Can I retire at age 59 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$80,845$80,125$79,422$78,736$78,067$75,088
2 years$40,022$39,277$38,554$37,854$37,175$34,209
3 years$26,416$25,668$24,947$24,253$23,585$20,725
4 years$19,615$18,869$18,155$17,473$16,821$14,089
5 years$15,535$14,793$14,089$13,421$12,787$10,190
6 years$12,816$12,080$11,386$10,733$10,118$7,658
7 years$10,875$10,145$9,462$8,824$8,229$5,904
8 years$9,419$8,696$8,024$7,402$6,826$4,636
9 years$8,288$7,571$6,911$6,305$5,749$3,689
10 years$7,383$6,674$6,026$5,435$4,898$2,965
11 years$6,644$5,941$5,305$4,730$4,213$2,402
12 years$6,028$5,332$4,708$4,149$3,651$1,957
13 years$5,507$4,819$4,206$3,663$3,183$1,603
14 years$5,061$4,380$3,779$3,252$2,791$1,318
15 years$4,675$4,002$3,412$2,900$2,457$1,087
16 years$4,337$3,671$3,094$2,596$2,172$899
17 years$4,040$3,381$2,815$2,333$1,925$745
18 years$3,776$3,124$2,570$2,102$1,712$618
19 years$3,540$2,896$2,353$1,900$1,526$514
20 years$3,327$2,691$2,159$1,721$1,363$427
21 years$3,136$2,506$1,986$1,562$1,220$356
22 years$2,961$2,340$1,830$1,420$1,093$297
23 years$2,803$2,188$1,690$1,293$981$247
24 years$2,657$2,050$1,563$1,179$882$206
25 years$2,524$1,924$1,448$1,077$794$172
26 years$2,401$1,808$1,343$985$715$144
27 years$2,287$1,702$1,247$901$645$120
28 years$2,182$1,604$1,159$826$582$101
29 years$2,084$1,513$1,079$757$525$84
30 years$1,993$1,429$1,005$695$475$70
31 years$1,908$1,351$937$638$429$59
32 years$1,828$1,278$874$587$388$49
33 years$1,753$1,210$816$539$351$41
34 years$1,683$1,147$762$496$318$34
35 years$1,617$1,088$713$457$288$29
36 years$1,555$1,033$667$421$261$24
37 years$1,496$981$624$388$237$20
38 years$1,441$932$584$357$214$17
39 years$1,388$886$548$330$194$14
40 years$1,338$843$513$304$176$12
41 years$1,291$803$481$280$160$10
42 years$1,246$764$451$259$145$8
43 years$1,204$728$424$239$132$7
44 years$1,163$694$398$221$120$6
45 years$1,125$662$373$204$109$5
46 years$1,088$632$351$188$99$4
47 years$1,052$603$329$174$90$3
48 years$1,019$575$310$161$81$3
49 years$987$549$291$148$74$2
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $979,000, adding $2,514 every year, while hoping to spend $22,087 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: 31/45/24 Blend
58$979,000$979,000$979,000$979,000
59$1,081,451$1,029,564$1,014,390$1,106,900
60$1,168,259$1,056,512$1,024,871$1,153,487
61$1,263,181$1,084,041$1,034,964$1,201,458
62$1,367,021$1,112,155$1,044,631$1,252,647
63$1,480,665$1,140,858$1,053,834$1,307,352
64$1,605,088$1,170,156$1,062,533$1,365,895
65$1,741,365$1,200,051$1,070,686$1,428,636
66$1,890,678$1,230,547$1,078,247$1,495,968
67$2,054,328$1,261,645$1,085,170$1,568,327
68$2,233,752$1,293,348$1,091,405$1,646,190
69$2,430,527$1,325,655$1,096,900$1,730,084
70$2,646,396$1,358,567$1,101,601$1,820,592
71$2,883,273$1,392,081$1,105,449$1,918,351
72$3,143,271$1,426,197$1,108,386$2,024,068
73$3,428,714$1,460,911$1,110,346$2,138,521
74$3,742,165$1,496,217$1,111,265$2,262,564
75$4,086,445$1,532,111$1,111,071$2,397,144
76$4,464,662$1,568,585$1,109,693$2,543,298
77$4,880,242$1,605,630$1,107,052$2,702,176
78$5,336,957$1,643,236$1,103,068$2,875,040
79$5,838,964$1,681,391$1,097,658$3,063,285
80$6,390,840$1,720,082$1,090,731$3,268,445
81$6,997,632$1,759,291$1,082,197$3,492,214
82$7,664,896$1,799,002$1,071,956$3,736,458
83$8,398,756$1,839,195$1,059,908$4,003,234
84$9,205,960$1,879,846$1,045,945$4,294,810
85$10,093,940$1,920,931$1,029,957$4,613,687
86$11,070,887$1,962,421$1,011,825$4,962,619
87$12,145,825$2,004,287$991,428$5,344,645
88$13,328,696$2,046,494$968,638$5,763,113
89$14,630,455$2,089,004$943,320$6,221,716
90$16,063,174$2,131,778$915,334$6,724,524
91$17,640,154$2,174,772$884,534$7,276,023
92$19,376,050$2,217,935$850,765$7,881,159
93$21,287,009$2,261,217$813,869$8,545,383
94$23,390,827$2,304,559$773,676$9,274,707
95$25,707,109$2,347,900$730,012$10,075,755
96$28,257,460$2,391,173$682,693$10,955,831
97$31,065,686$2,434,306$631,528$11,922,987
98$34,158,019$2,477,220$576,318$12,986,096
99$37,563,365$2,519,831$516,852$14,154,944
100$41,313,574$2,562,048$452,912$15,440,313