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%16.9%
1 years$81,010$80,288$79,584$78,897$78,226$76,027
2 years$40,104$39,357$38,633$37,931$37,251$35,052
3 years$26,470$25,720$24,998$24,303$23,633$21,504
4 years$19,655$18,907$18,192$17,509$16,855$14,811
5 years$15,567$14,823$14,118$13,449$12,813$10,860
6 years$12,842$12,104$11,409$10,755$10,139$8,279
7 years$10,897$10,165$9,481$8,842$8,245$6,478
8 years$9,438$8,714$8,041$7,418$6,840$5,165
9 years$8,305$7,587$6,926$6,318$5,761$4,176
10 years$7,398$6,687$6,038$5,446$4,908$3,412
11 years$6,657$5,953$5,316$4,740$4,221$2,811
12 years$6,040$5,343$4,718$4,157$3,658$2,331
13 years$5,518$4,829$4,215$3,670$3,190$1,943
14 years$5,071$4,389$3,787$3,258$2,796$1,626
15 years$4,684$4,010$3,419$2,906$2,462$1,366
16 years$4,346$3,679$3,100$2,602$2,176$1,151
17 years$4,048$3,388$2,821$2,338$1,929$972
18 years$3,783$3,131$2,575$2,107$1,716$823
19 years$3,547$2,902$2,357$1,904$1,529$697
20 years$3,334$2,696$2,163$1,724$1,366$592
21 years$3,142$2,511$1,990$1,565$1,222$503
22 years$2,968$2,344$1,834$1,423$1,096$428
23 years$2,808$2,193$1,693$1,296$983$364
24 years$2,663$2,054$1,566$1,182$884$310
25 years$2,529$1,928$1,451$1,079$795$264
26 years$2,406$1,812$1,345$987$716$226
27 years$2,292$1,705$1,249$903$646$192
28 years$2,186$1,607$1,161$828$583$164
29 years$2,088$1,516$1,081$759$526$140
30 years$1,997$1,432$1,007$696$476$120
31 years$1,912$1,353$938$640$430$102
32 years$1,832$1,280$876$588$389$87
33 years$1,757$1,213$818$541$352$75
34 years$1,687$1,149$764$497$319$64
35 years$1,620$1,090$714$458$289$55
36 years$1,558$1,035$668$422$262$47
37 years$1,499$983$625$389$237$40
38 years$1,444$934$586$358$215$34
39 years$1,391$888$549$330$195$29
40 years$1,341$845$514$305$177$25
41 years$1,294$804$482$281$160$21
42 years$1,249$766$452$259$146$18
43 years$1,206$730$424$239$132$16
44 years$1,166$696$398$221$120$13
45 years$1,127$663$374$204$109$11
46 years$1,090$633$351$189$99$10
47 years$1,055$604$330$174$90$8
48 years$1,021$577$310$161$81$7
49 years$989$551$292$149$74$6
50 years$958$526$274$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $981,000, adding $3,922 every year, while hoping to spend $23,155 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: 65/26/9 Blend
58$981,000$981,000$981,000$981,000
59$1,085,108$1,033,115$1,017,909$1,153,383
60$1,171,152$1,059,100$1,027,372$1,225,338
61$1,265,196$1,085,584$1,036,376$1,300,826
62$1,368,033$1,112,564$1,044,882$1,382,703
63$1,480,534$1,140,040$1,052,846$1,471,590
64$1,603,657$1,168,012$1,060,226$1,568,169
65$1,738,461$1,196,475$1,066,974$1,673,191
66$1,886,108$1,225,427$1,073,042$1,787,486
67$2,047,881$1,254,862$1,078,379$1,911,966
68$2,225,191$1,284,776$1,082,930$2,047,633
69$2,419,591$1,315,161$1,086,639$2,195,596
70$2,632,794$1,346,009$1,089,446$2,357,072
71$2,866,686$1,377,310$1,091,289$2,533,404
72$3,123,343$1,409,053$1,092,103$2,726,070
73$3,405,053$1,441,226$1,091,817$2,936,700
74$3,714,336$1,473,814$1,090,361$3,167,087
75$4,053,968$1,506,800$1,087,658$3,419,209
76$4,427,007$1,540,167$1,083,628$3,695,244
77$4,836,820$1,573,895$1,078,189$3,997,591
78$5,287,121$1,607,960$1,071,253$4,328,895
79$5,781,995$1,642,338$1,062,728$4,692,068
80$6,325,948$1,677,002$1,052,518$5,090,321
81$6,923,940$1,711,921$1,040,524$5,527,190
82$7,581,440$1,747,063$1,026,639$6,006,572
83$8,304,469$1,782,391$1,010,754$6,532,762
84$9,099,664$1,817,867$992,753$7,110,491
85$9,974,334$1,853,447$972,515$7,744,973
86$10,936,536$1,889,086$949,914$8,441,954
87$11,995,144$1,924,733$924,817$9,207,766
88$13,159,938$1,960,334$897,088$10,049,385
89$14,441,691$1,995,829$866,579$10,974,500
90$15,852,275$2,031,156$833,141$11,991,583
91$17,404,771$2,066,247$796,615$13,109,970
92$19,113,592$2,101,027$756,836$14,339,951
93$20,994,618$2,135,418$713,631$15,692,863
94$23,065,350$2,169,334$666,818$17,181,202
95$25,345,069$2,202,685$616,210$18,818,736
96$27,855,022$2,235,372$561,608$20,620,639
97$30,618,619$2,267,290$502,807$22,603,635
98$33,661,658$2,298,328$439,591$24,786,150
99$37,012,566$2,328,364$371,736$27,188,492
100$40,702,665$2,357,271$299,006$29,833,043