Can I retire at age 59 with 981,000?

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 $981,000?

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$81,010$80,288$79,584$78,897$78,226$75,241
2 years$40,104$39,357$38,633$37,931$37,251$34,279
3 years$26,470$25,720$24,998$24,303$23,633$20,768
4 years$19,655$18,907$18,192$17,509$16,855$14,118
5 years$15,567$14,823$14,118$13,449$12,813$10,211
6 years$12,842$12,104$11,409$10,755$10,139$7,673
7 years$10,897$10,165$9,481$8,842$8,245$5,916
8 years$9,438$8,714$8,041$7,418$6,840$4,645
9 years$8,305$7,587$6,926$6,318$5,761$3,696
10 years$7,398$6,687$6,038$5,446$4,908$2,971
11 years$6,657$5,953$5,316$4,740$4,221$2,407
12 years$6,040$5,343$4,718$4,157$3,658$1,961
13 years$5,518$4,829$4,215$3,670$3,190$1,606
14 years$5,071$4,389$3,787$3,258$2,796$1,321
15 years$4,684$4,010$3,419$2,906$2,462$1,089
16 years$4,346$3,679$3,100$2,602$2,176$900
17 years$4,048$3,388$2,821$2,338$1,929$746
18 years$3,783$3,131$2,575$2,107$1,716$619
19 years$3,547$2,902$2,357$1,904$1,529$515
20 years$3,334$2,696$2,163$1,724$1,366$428
21 years$3,142$2,511$1,990$1,565$1,222$357
22 years$2,968$2,344$1,834$1,423$1,096$297
23 years$2,808$2,193$1,693$1,296$983$248
24 years$2,663$2,054$1,566$1,182$884$207
25 years$2,529$1,928$1,451$1,079$795$173
26 years$2,406$1,812$1,345$987$716$144
27 years$2,292$1,705$1,249$903$646$121
28 years$2,186$1,607$1,161$828$583$101
29 years$2,088$1,516$1,081$759$526$84
30 years$1,997$1,432$1,007$696$476$70
31 years$1,912$1,353$938$640$430$59
32 years$1,832$1,280$876$588$389$49
33 years$1,757$1,213$818$541$352$41
34 years$1,687$1,149$764$497$319$34
35 years$1,620$1,090$714$458$289$29
36 years$1,558$1,035$668$422$262$24
37 years$1,499$983$625$389$237$20
38 years$1,444$934$586$358$215$17
39 years$1,391$888$549$330$195$14
40 years$1,341$845$514$305$177$12
41 years$1,294$804$482$281$160$10
42 years$1,249$766$452$259$146$8
43 years$1,206$730$424$239$132$7
44 years$1,166$696$398$221$120$6
45 years$1,127$663$374$204$109$5
46 years$1,090$633$351$189$99$4
47 years$1,055$604$330$174$90$3
48 years$1,021$577$310$161$81$3
49 years$989$551$292$149$74$2
50 years$958$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $981,000, adding $6,740 every year, while hoping to spend $39,317 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: 54/19/27 Blend
58$981,000$981,000$981,000$981,000
59$1,088,014$1,036,021$1,020,816$1,138,288
60$1,157,159$1,044,953$1,013,180$1,182,667
61$1,232,038$1,053,005$1,003,971$1,226,358
62$1,313,196$1,060,093$993,094$1,273,130
63$1,401,230$1,066,125$980,451$1,323,295
64$1,496,797$1,071,007$965,937$1,377,194
65$1,600,621$1,074,636$949,446$1,435,209
66$1,713,495$1,076,905$930,864$1,497,758
67$1,836,296$1,077,697$910,072$1,565,306
68$1,969,984$1,076,891$886,946$1,638,368
69$2,115,621$1,074,356$861,356$1,717,512
70$2,274,370$1,069,956$833,168$1,803,365
71$2,447,515$1,063,542$802,238$1,896,623
72$2,636,466$1,054,961$768,418$1,998,053
73$2,842,780$1,044,048$731,554$2,108,504
74$3,068,165$1,030,628$691,482$2,228,915
75$3,314,505$1,014,516$648,034$2,360,321
76$3,583,873$995,516$601,032$2,503,868
77$3,878,553$973,421$550,292$2,660,823
78$4,201,057$948,011$495,618$2,832,582
79$4,554,154$919,052$436,811$3,020,690
80$4,940,891$886,299$373,657$3,226,853
81$5,364,626$849,491$305,938$3,452,956
82$5,829,053$808,352$233,423$3,701,079
83$6,338,246$762,591$155,872$3,973,520
84$6,896,686$711,897$73,033$4,272,814
85$7,509,314$655,946$0$4,601,765
86$8,181,569$594,392$0$4,967,891
87$8,919,442$526,870$0$5,392,920
88$9,729,533$452,995$0$5,859,640
89$10,619,114$372,360$0$6,372,294
90$11,596,193$284,535$0$6,935,564
91$12,669,593$189,065$0$7,554,608
92$13,849,033$85,471$0$8,235,113
93$15,145,220$0$0$8,983,350
94$16,569,952$0$0$9,811,824
95$18,136,224$0$0$10,742,350
96$19,858,354$0$0$11,765,575
97$21,752,117$0$0$12,890,886
98$23,834,892$0$0$14,128,623
99$26,125,828$0$0$15,490,179
100$28,646,023$0$0$16,988,108