Can I retire at age 59 with 982,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$81,093$80,370$79,666$78,978$78,306$75,378
2 years$40,145$39,397$38,673$37,970$37,289$34,372
3 years$26,497$25,747$25,024$24,328$23,657$20,844
4 years$19,675$18,926$18,211$17,527$16,873$14,184
5 years$15,583$14,839$14,132$13,462$12,826$10,270
6 years$12,855$12,117$11,421$10,766$10,149$7,726
7 years$10,908$10,176$9,491$8,851$8,254$5,964
8 years$9,448$8,722$8,049$7,425$6,847$4,688
9 years$8,313$7,594$6,933$6,325$5,767$3,735
10 years$7,406$6,694$6,044$5,452$4,913$3,006
11 years$6,664$5,959$5,321$4,745$4,226$2,438
12 years$6,046$5,349$4,722$4,162$3,662$1,990
13 years$5,524$4,834$4,219$3,674$3,193$1,632
14 years$5,077$4,394$3,791$3,262$2,799$1,343
15 years$4,689$4,014$3,423$2,909$2,465$1,109
16 years$4,351$3,683$3,103$2,604$2,178$919
17 years$4,052$3,392$2,824$2,340$1,931$762
18 years$3,787$3,134$2,578$2,109$1,717$634
19 years$3,550$2,904$2,360$1,906$1,531$527
20 years$3,338$2,699$2,166$1,726$1,367$439
21 years$3,145$2,514$1,992$1,566$1,223$367
22 years$2,971$2,347$1,836$1,424$1,097$306
23 years$2,811$2,195$1,695$1,297$984$256
24 years$2,666$2,056$1,568$1,183$885$214
25 years$2,532$1,930$1,452$1,080$796$179
26 years$2,408$1,814$1,347$988$717$149
27 years$2,294$1,707$1,251$904$647$125
28 years$2,189$1,608$1,163$828$583$105
29 years$2,090$1,517$1,082$760$527$88
30 years$1,999$1,433$1,008$697$476$73
31 years$1,913$1,355$939$640$430$61
32 years$1,834$1,282$877$588$389$52
33 years$1,759$1,214$818$541$352$43
34 years$1,688$1,150$765$498$319$36
35 years$1,622$1,091$715$458$289$30
36 years$1,560$1,036$669$422$262$25
37 years$1,501$984$626$389$237$21
38 years$1,445$935$586$358$215$18
39 years$1,392$889$549$331$195$15
40 years$1,343$846$515$305$177$13
41 years$1,295$805$483$281$161$10
42 years$1,250$767$453$260$146$9
43 years$1,207$731$425$240$132$7
44 years$1,167$696$399$221$120$6
45 years$1,128$664$374$204$109$5
46 years$1,091$633$352$189$99$4
47 years$1,056$605$330$174$90$4
48 years$1,022$577$311$161$82$3
49 years$990$551$292$149$74$3
50 years$959$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 $982,000, adding $3,231 every year, while hoping to spend $37,015 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: 43/32/25 Blend
58$982,000$982,000$982,000$982,000
59$1,085,497$1,033,451$1,018,230$1,124,141
60$1,156,834$1,044,706$1,012,957$1,163,262
61$1,234,207$1,055,273$1,006,267$1,201,828
62$1,318,192$1,065,077$998,073$1,242,886
63$1,409,423$1,074,042$988,284$1,286,687
64$1,508,599$1,082,084$976,806$1,333,509
65$1,616,486$1,089,117$963,539$1,383,661
66$1,733,929$1,095,045$948,379$1,437,484
67$1,861,857$1,099,769$931,217$1,495,357
68$2,001,292$1,103,184$911,939$1,557,699
69$2,153,360$1,105,175$890,424$1,624,976
70$2,319,299$1,105,625$866,549$1,697,701
71$2,500,471$1,104,404$840,183$1,776,444
72$2,698,378$1,101,379$811,188$1,861,836
73$2,914,672$1,096,406$779,422$1,954,574
74$3,151,171$1,089,333$744,735$2,055,431
75$3,409,878$1,079,997$706,971$2,165,261
76$3,692,997$1,068,229$665,967$2,285,009
77$4,002,957$1,053,847$621,551$2,415,722
78$4,342,432$1,036,657$573,545$2,558,554
79$4,714,364$1,016,458$521,763$2,714,785
80$5,121,997$993,033$466,011$2,885,830
81$5,568,902$966,152$406,083$3,073,250
82$6,059,012$935,575$341,769$3,278,774
83$6,596,658$901,046$272,845$3,504,310
84$7,186,613$862,293$199,081$3,751,971
85$7,834,131$819,029$120,234$4,024,087
86$8,545,003$770,952$36,052$4,323,234
87$9,325,605$717,740$0$4,652,260
88$10,182,962$659,055$0$5,028,655
89$11,124,814$594,538$0$5,452,740
90$12,159,684$523,810$0$5,918,801
91$13,296,966$446,471$0$6,431,153
92$14,547,006$362,097$0$6,994,557
93$15,921,203$270,242$0$7,614,262
94$17,432,116$170,434$0$8,296,062
95$19,093,581$62,175$0$9,046,345
96$20,920,842$0$0$9,872,157
97$22,930,695$0$0$10,800,659
98$25,141,644$0$0$11,846,283
99$27,574,079$0$0$12,996,796
100$30,250,464$0$0$14,262,840