Can I retire at age 59 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$80,927$80,207$79,503$78,817$78,147$75,919
2 years$40,063$39,317$38,594$37,893$37,213$34,986
3 years$26,443$25,694$24,973$24,278$23,609$21,453
4 years$19,635$18,888$18,174$17,491$16,838$14,769
5 years$15,551$14,808$14,104$13,435$12,800$10,823
6 years$12,829$12,092$11,398$10,744$10,128$8,246
7 years$10,886$10,155$9,472$8,833$8,237$6,449
8 years$9,429$8,705$8,033$7,410$6,833$5,139
9 years$8,296$7,579$6,919$6,312$5,755$4,152
10 years$7,391$6,680$6,032$5,441$4,903$3,390
11 years$6,650$5,947$5,310$4,735$4,217$2,791
12 years$6,034$5,338$4,713$4,153$3,654$2,313
13 years$5,513$4,824$4,211$3,667$3,187$1,927
14 years$5,066$4,385$3,783$3,255$2,793$1,612
15 years$4,680$4,006$3,416$2,903$2,460$1,353
16 years$4,342$3,675$3,097$2,599$2,174$1,139
17 years$4,044$3,385$2,818$2,335$1,927$961
18 years$3,779$3,128$2,572$2,105$1,714$813
19 years$3,543$2,899$2,355$1,902$1,528$688
20 years$3,331$2,693$2,161$1,722$1,364$584
21 years$3,139$2,509$1,988$1,563$1,221$496
22 years$2,964$2,342$1,832$1,421$1,094$421
23 years$2,806$2,190$1,692$1,294$982$358
24 years$2,660$2,052$1,565$1,181$883$305
25 years$2,527$1,926$1,449$1,078$795$260
26 years$2,403$1,810$1,344$986$716$221
27 years$2,290$1,703$1,248$902$645$189
28 years$2,184$1,605$1,160$827$582$161
29 years$2,086$1,514$1,080$758$526$137
30 years$1,995$1,430$1,006$696$475$117
31 years$1,910$1,352$938$639$430$100
32 years$1,830$1,279$875$587$389$85
33 years$1,755$1,211$817$540$352$73
34 years$1,685$1,148$763$497$318$62
35 years$1,619$1,089$713$457$288$53
36 years$1,556$1,034$667$421$261$45
37 years$1,498$982$625$388$237$39
38 years$1,442$933$585$358$215$33
39 years$1,390$887$548$330$195$28
40 years$1,340$844$514$304$177$24
41 years$1,293$803$482$281$160$21
42 years$1,248$765$452$259$145$18
43 years$1,205$729$424$239$132$15
44 years$1,164$695$398$221$120$13
45 years$1,126$663$374$204$109$11
46 years$1,089$632$351$188$99$9
47 years$1,054$603$330$174$90$8
48 years$1,020$576$310$161$81$7
49 years$988$550$291$149$74$6
50 years$957$525$274$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $980,000, adding $3,940 every year, while hoping to spend $22,606 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: 29/43/28 Blend
58$980,000$980,000$980,000$980,000
59$1,084,024$1,032,084$1,016,894$1,105,999
60$1,170,542$1,058,604$1,026,907$1,150,196
61$1,265,127$1,085,665$1,036,499$1,195,451
62$1,368,578$1,113,271$1,045,630$1,243,654
63$1,481,775$1,141,423$1,054,260$1,295,074
64$1,605,687$1,170,123$1,062,348$1,350,010
65$1,741,380$1,199,372$1,069,850$1,408,790
66$1,890,028$1,229,169$1,076,718$1,471,777
67$2,052,927$1,259,514$1,082,903$1,539,368
68$2,231,499$1,290,404$1,088,355$1,612,004
69$2,427,315$1,321,837$1,093,018$1,690,169
70$2,642,103$1,353,809$1,096,835$1,774,397
71$2,877,766$1,386,314$1,099,748$1,865,277
72$3,136,401$1,419,346$1,101,692$1,963,458
73$3,420,317$1,452,897$1,102,602$2,069,655
74$3,732,058$1,486,958$1,102,408$2,184,657
75$4,074,428$1,521,519$1,101,039$2,309,335
76$4,450,513$1,556,567$1,098,417$2,444,647
77$4,863,715$1,592,088$1,094,463$2,591,651
78$5,317,779$1,628,065$1,089,093$2,751,512
79$5,816,833$1,664,482$1,082,218$2,925,517
80$6,365,426$1,701,317$1,073,748$3,115,082
81$6,968,566$1,738,548$1,063,585$3,321,771
82$7,631,773$1,776,150$1,051,629$3,547,307
83$8,361,128$1,814,096$1,037,773$3,793,591
84$9,163,331$1,852,354$1,021,906$4,062,717
85$10,045,764$1,890,893$1,003,913$4,356,998
86$11,016,560$1,929,675$983,672$4,678,980
87$12,084,680$1,968,660$961,057$5,031,472
88$13,259,999$2,007,805$935,933$5,417,572
89$14,553,394$2,047,063$908,162$5,840,695
90$15,976,852$2,086,382$877,598$6,304,607
91$17,543,583$2,125,706$844,089$6,813,459
92$19,268,139$2,164,976$807,476$7,371,830
93$21,166,555$2,204,125$767,592$7,984,766
94$23,256,501$2,243,085$724,264$8,657,833
95$25,557,447$2,281,779$677,310$9,397,166
96$28,090,846$2,320,126$626,539$10,209,529
97$30,880,337$2,358,037$571,754$11,102,381
98$33,951,970$2,395,419$512,746$12,083,943
99$37,334,447$2,432,171$449,299$13,163,280
100$41,059,398$2,468,185$381,187$14,350,387