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%15%
1 years$81,093$80,370$79,666$78,978$78,306$76,694
2 years$40,145$39,397$38,673$37,970$37,289$35,671
3 years$26,497$25,747$25,024$24,328$23,657$22,086
4 years$19,675$18,926$18,211$17,527$16,873$15,359
5 years$15,583$14,839$14,132$13,462$12,826$11,375
6 years$12,855$12,117$11,421$10,766$10,149$8,761
7 years$10,908$10,176$9,491$8,851$8,254$6,930
8 years$9,448$8,722$8,049$7,425$6,847$5,587
9 years$8,313$7,594$6,933$6,325$5,767$4,569
10 years$7,406$6,694$6,044$5,452$4,913$3,777
11 years$6,664$5,959$5,321$4,745$4,226$3,150
12 years$6,046$5,349$4,722$4,162$3,662$2,644
13 years$5,524$4,834$4,219$3,674$3,193$2,233
14 years$5,077$4,394$3,791$3,262$2,799$1,893
15 years$4,689$4,014$3,423$2,909$2,465$1,612
16 years$4,351$3,683$3,103$2,604$2,178$1,376
17 years$4,052$3,392$2,824$2,340$1,931$1,179
18 years$3,787$3,134$2,578$2,109$1,717$1,011
19 years$3,550$2,904$2,360$1,906$1,531$869
20 years$3,338$2,699$2,166$1,726$1,367$749
21 years$3,145$2,514$1,992$1,566$1,223$646
22 years$2,971$2,347$1,836$1,424$1,097$557
23 years$2,811$2,195$1,695$1,297$984$482
24 years$2,666$2,056$1,568$1,183$885$416
25 years$2,532$1,930$1,452$1,080$796$360
26 years$2,408$1,814$1,347$988$717$312
27 years$2,294$1,707$1,251$904$647$270
28 years$2,189$1,608$1,163$828$583$234
29 years$2,090$1,517$1,082$760$527$203
30 years$1,999$1,433$1,008$697$476$176
31 years$1,913$1,355$939$640$430$153
32 years$1,834$1,282$877$588$389$133
33 years$1,759$1,214$818$541$352$115
34 years$1,688$1,150$765$498$319$100
35 years$1,622$1,091$715$458$289$87
36 years$1,560$1,036$669$422$262$76
37 years$1,501$984$626$389$237$66
38 years$1,445$935$586$358$215$57
39 years$1,392$889$549$331$195$50
40 years$1,343$846$515$305$177$43
41 years$1,295$805$483$281$161$37
42 years$1,250$767$453$260$146$33
43 years$1,207$731$425$240$132$28
44 years$1,167$696$399$221$120$25
45 years$1,128$664$374$204$109$21
46 years$1,091$633$352$189$99$19
47 years$1,056$605$330$174$90$16
48 years$1,022$577$311$161$82$14
49 years$990$551$292$149$74$12
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 $2,803 every year, while hoping to spend $32,120 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: 61/15/24 Blend
58$982,000$982,000$982,000$982,000
59$1,085,055$1,033,009$1,017,788$1,144,168
60$1,161,556$1,049,451$1,017,709$1,201,037
61$1,244,782$1,065,622$1,016,550$1,259,324
62$1,335,388$1,081,476$1,014,242$1,322,239
63$1,434,089$1,096,960$1,010,711$1,390,238
64$1,541,677$1,112,022$1,005,881$1,463,824
65$1,659,020$1,126,603$999,670$1,543,553
66$1,787,075$1,140,641$991,994$1,630,036
67$1,926,895$1,154,071$982,764$1,723,951
68$2,079,639$1,166,821$971,887$1,826,040
69$2,246,583$1,178,816$959,266$1,937,127
70$2,429,132$1,189,976$944,799$2,058,119
71$2,628,834$1,200,215$928,380$2,190,014
72$2,847,390$1,209,441$909,896$2,333,917
73$3,086,678$1,217,557$889,232$2,491,044
74$3,348,762$1,224,460$866,263$2,662,736
75$3,635,916$1,230,039$840,864$2,850,473
76$3,950,646$1,234,178$812,899$3,055,889
77$4,295,710$1,236,751$782,230$3,280,783
78$4,674,147$1,237,626$748,709$3,527,141
79$5,089,303$1,236,663$712,184$3,797,152
80$5,544,865$1,233,712$672,495$4,093,231
81$6,044,891$1,228,614$629,474$4,418,041
82$6,593,856$1,221,202$582,947$4,774,520
83$7,196,686$1,211,297$532,732$5,165,905
84$7,858,807$1,198,710$478,638$5,595,769
85$8,586,198$1,183,240$420,465$6,068,048
86$9,385,446$1,164,674$358,006$6,587,086
87$10,263,806$1,142,788$291,044$7,157,671
88$11,229,271$1,117,341$219,351$7,785,083
89$12,290,649$1,088,083$142,691$8,475,143
90$13,457,640$1,054,745$60,817$9,234,269
91$14,740,935$1,017,043$0$10,069,540
92$16,152,311$974,678$0$10,995,559
93$17,704,743$927,334$0$12,031,190
94$19,412,527$874,673$0$13,170,400
95$21,291,415$816,342$0$14,423,721
96$23,358,762$751,966$0$15,802,760
97$25,633,690$681,147$0$17,320,308
98$28,137,270$603,466$0$18,990,464
99$30,892,716$518,481$0$20,828,761
100$33,925,610$425,723$0$22,852,322