Can I retire at age 59 with 982,000?

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 $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%14.9%
1 years$81,093$80,370$79,666$78,978$78,306$76,725
2 years$40,145$39,397$38,673$37,970$37,289$35,703
3 years$26,497$25,747$25,024$24,328$23,657$22,116
4 years$19,675$18,926$18,211$17,527$16,873$15,388
5 years$15,583$14,839$14,132$13,462$12,826$11,402
6 years$12,855$12,117$11,421$10,766$10,149$8,787
7 years$10,908$10,176$9,491$8,851$8,254$6,954
8 years$9,448$8,722$8,049$7,425$6,847$5,610
9 years$8,313$7,594$6,933$6,325$5,767$4,590
10 years$7,406$6,694$6,044$5,452$4,913$3,797
11 years$6,664$5,959$5,321$4,745$4,226$3,168
12 years$6,046$5,349$4,722$4,162$3,662$2,662
13 years$5,524$4,834$4,219$3,674$3,193$2,249
14 years$5,077$4,394$3,791$3,262$2,799$1,909
15 years$4,689$4,014$3,423$2,909$2,465$1,626
16 years$4,351$3,683$3,103$2,604$2,178$1,389
17 years$4,052$3,392$2,824$2,340$1,931$1,190
18 years$3,787$3,134$2,578$2,109$1,717$1,022
19 years$3,550$2,904$2,360$1,906$1,531$879
20 years$3,338$2,699$2,166$1,726$1,367$758
21 years$3,145$2,514$1,992$1,566$1,223$654
22 years$2,971$2,347$1,836$1,424$1,097$565
23 years$2,811$2,195$1,695$1,297$984$489
24 years$2,666$2,056$1,568$1,183$885$423
25 years$2,532$1,930$1,452$1,080$796$366
26 years$2,408$1,814$1,347$988$717$317
27 years$2,294$1,707$1,251$904$647$275
28 years$2,189$1,608$1,163$828$583$239
29 years$2,090$1,517$1,082$760$527$207
30 years$1,999$1,433$1,008$697$476$180
31 years$1,913$1,355$939$640$430$156
32 years$1,834$1,282$877$588$389$136
33 years$1,759$1,214$818$541$352$118
34 years$1,688$1,150$765$498$319$103
35 years$1,622$1,091$715$458$289$89
36 years$1,560$1,036$669$422$262$78
37 years$1,501$984$626$389$237$67
38 years$1,445$935$586$358$215$59
39 years$1,392$889$549$331$195$51
40 years$1,343$846$515$305$177$44
41 years$1,295$805$483$281$161$39
42 years$1,250$767$453$260$146$34
43 years$1,207$731$425$240$132$29
44 years$1,167$696$399$221$120$25
45 years$1,128$664$374$204$109$22
46 years$1,091$633$352$189$99$19
47 years$1,056$605$330$174$90$17
48 years$1,022$577$311$161$82$15
49 years$990$551$292$149$74$13
50 years$959$526$274$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $982,000, adding $4,238 every year, while hoping to spend $28,178 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: 84/7/9 Blend
58$982,000$982,000$982,000$982,000
59$1,086,535$1,034,489$1,019,268$1,176,151
60$1,167,381$1,055,198$1,023,433$1,256,061
61$1,255,528$1,075,977$1,026,792$1,339,582
62$1,351,692$1,096,801$1,029,290$1,430,451
63$1,456,660$1,117,639$1,030,867$1,529,387
64$1,571,299$1,138,463$1,031,460$1,637,185
65$1,696,561$1,159,237$1,031,003$1,754,719
66$1,833,497$1,179,927$1,029,429$1,882,953
67$1,983,263$1,200,492$1,026,664$2,022,946
68$2,147,132$1,220,892$1,022,633$2,175,867
69$2,326,505$1,241,082$1,017,257$2,343,003
70$2,522,926$1,261,012$1,010,453$2,525,772
71$2,738,094$1,280,631$1,002,132$2,725,734
72$2,973,880$1,299,883$992,205$2,944,609
73$3,232,347$1,318,708$980,574$3,184,293
74$3,515,764$1,337,042$967,141$3,446,873
75$3,826,631$1,354,817$951,799$3,734,650
76$4,167,703$1,371,958$934,440$4,050,156
77$4,542,013$1,388,389$914,949$4,396,184
78$4,952,903$1,404,024$893,204$4,775,809
79$5,404,053$1,418,775$869,080$5,192,421
80$5,899,518$1,432,547$842,446$5,649,753
81$6,443,764$1,445,237$813,163$6,151,921
82$7,041,712$1,456,737$781,088$6,703,458
83$7,698,782$1,466,933$746,070$7,309,358
84$8,420,946$1,475,701$707,952$7,975,126
85$9,214,783$1,482,911$666,568$8,706,829
86$10,087,540$1,488,423$621,748$9,511,147
87$11,047,204$1,492,090$573,311$10,395,447
88$12,102,571$1,493,755$521,069$11,367,844
89$13,263,335$1,493,251$464,827$12,437,279
90$14,540,176$1,490,400$404,379$13,613,607
91$15,944,860$1,485,016$339,511$14,907,686
92$17,490,351$1,476,897$270,001$16,331,482
93$19,190,935$1,465,833$195,614$17,898,182
94$21,062,350$1,451,599$116,107$19,622,315
95$23,121,938$1,433,956$31,225$21,519,894
96$25,388,808$1,412,652$0$23,608,564
97$27,884,015$1,387,421$0$25,913,469
98$30,630,758$1,357,977$0$28,453,909
99$33,654,599$1,324,022$0$31,250,523
100$36,983,706$1,285,238$0$34,329,360