Can I retire at age 59 with 978,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$80,762$80,043$79,341$78,656$77,987$77,334
2 years$39,981$39,237$38,515$37,815$37,137$36,478
3 years$26,389$25,642$24,922$24,229$23,561$22,918
4 years$19,595$18,849$18,137$17,455$16,804$16,181
5 years$15,519$14,778$14,075$13,407$12,774$12,173
6 years$12,803$12,067$11,375$10,722$10,108$9,529
7 years$10,863$10,134$9,452$8,815$8,220$7,665
8 years$9,410$8,687$8,016$7,395$6,820$6,287
9 years$8,279$7,563$6,904$6,299$5,743$5,234
10 years$7,376$6,667$6,019$5,430$4,893$4,407
11 years$6,637$5,935$5,299$4,725$4,208$3,744
12 years$6,022$5,327$4,703$4,145$3,647$3,204
13 years$5,501$4,814$4,202$3,659$3,180$2,759
14 years$5,056$4,376$3,775$3,248$2,788$2,387
15 years$4,670$3,997$3,409$2,897$2,455$2,074
16 years$4,333$3,668$3,091$2,594$2,169$1,809
17 years$4,036$3,378$2,812$2,331$1,923$1,582
18 years$3,772$3,121$2,567$2,100$1,710$1,387
19 years$3,536$2,893$2,350$1,898$1,524$1,219
20 years$3,324$2,688$2,157$1,719$1,362$1,073
21 years$3,132$2,504$1,984$1,560$1,219$947
22 years$2,958$2,337$1,828$1,418$1,092$836
23 years$2,800$2,186$1,688$1,292$980$739
24 years$2,655$2,048$1,561$1,178$881$655
25 years$2,521$1,922$1,446$1,076$793$580
26 years$2,399$1,806$1,341$984$714$514
27 years$2,285$1,700$1,245$900$644$457
28 years$2,180$1,602$1,158$825$581$406
29 years$2,082$1,511$1,077$757$525$360
30 years$1,991$1,427$1,004$694$474$320
31 years$1,906$1,349$936$638$429$285
32 years$1,826$1,277$873$586$388$254
33 years$1,751$1,209$815$539$351$226
34 years$1,681$1,146$762$496$318$201
35 years$1,615$1,087$712$456$288$179
36 years$1,553$1,032$666$420$261$160
37 years$1,495$980$623$387$236$142
38 years$1,439$931$584$357$214$127
39 years$1,387$885$547$329$194$113
40 years$1,337$842$513$304$176$101
41 years$1,290$802$481$280$160$90
42 years$1,245$764$451$259$145$80
43 years$1,203$728$423$239$132$72
44 years$1,162$694$397$220$119$64
45 years$1,123$661$373$204$108$57
46 years$1,087$631$350$188$98$51
47 years$1,051$602$329$174$89$45
48 years$1,018$575$309$160$81$40
49 years$986$549$291$148$74$36
50 years$955$524$273$137$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $978,000, adding $5,119 every year, while hoping to spend $27,919 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 84/10/6 Blend
58$978,000$978,000$978,000$978,000
59$1,083,036$1,031,202$1,016,043$1,173,234
60$1,163,800$1,052,026$1,020,375$1,253,688
61$1,251,867$1,072,933$1,023,916$1,337,709
62$1,347,951$1,093,901$1,026,611$1,429,108
63$1,452,839$1,114,900$1,028,400$1,528,607
64$1,567,400$1,135,901$1,029,223$1,637,002
65$1,692,586$1,156,871$1,029,013$1,755,170
66$1,829,449$1,177,777$1,027,704$1,884,074
67$1,979,145$1,198,580$1,025,224$2,024,777
68$2,142,946$1,219,239$1,021,498$2,178,449
69$2,322,257$1,239,712$1,016,448$2,346,379
70$2,518,620$1,259,951$1,009,992$2,529,985
71$2,733,736$1,279,906$1,002,044$2,730,833
72$2,969,478$1,299,522$992,513$2,950,643
73$3,227,908$1,318,741$981,306$3,191,313
74$3,511,298$1,337,503$968,322$3,454,934
75$3,822,148$1,355,739$953,459$3,743,807
76$4,163,216$1,373,378$936,608$4,060,470
77$4,537,535$1,390,345$917,656$4,407,716
78$4,948,450$1,406,558$896,484$4,788,626
79$5,399,642$1,421,930$872,966$5,206,592
80$5,895,170$1,436,368$846,975$5,665,351
81$6,439,501$1,449,774$818,372$6,169,021
82$7,037,559$1,462,042$787,017$6,722,140
83$7,694,768$1,473,061$752,760$7,329,709
84$8,417,103$1,482,709$715,446$7,997,234
85$9,211,146$1,490,860$674,912$8,730,788
86$10,084,150$1,497,379$630,988$9,537,058
87$11,044,104$1,502,122$583,497$10,423,416
88$12,099,812$1,504,935$532,254$11,397,981
89$13,260,972$1,505,656$477,064$12,469,703
90$14,538,270$1,504,112$417,724$13,648,444
91$15,943,480$1,500,120$354,025$14,945,070
92$17,489,574$1,493,485$285,744$16,371,555
93$19,190,845$1,484,001$212,651$17,941,094
94$21,063,042$1,471,448$134,505$19,668,228
95$23,123,518$1,455,593$51,056$21,568,979
96$25,391,391$1,436,192$0$23,661,005
97$27,887,729$1,412,982$0$25,966,196
98$30,635,746$1,385,686$0$28,507,207
99$33,661,019$1,354,012$0$31,304,413
100$36,991,735$1,317,650$0$34,383,871