Can I retire at age 59 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$81,258$80,534$79,828$79,139$78,466$77,517
2 years$40,227$39,477$38,751$38,047$37,365$36,410
3 years$26,551$25,799$25,075$24,377$23,706$22,775
4 years$19,715$18,965$18,248$17,562$16,907$16,007
5 years$15,614$14,869$14,161$13,490$12,852$11,986
6 years$12,881$12,141$11,444$10,788$10,170$9,337
7 years$10,930$10,196$9,510$8,869$8,271$7,473
8 years$9,467$8,740$8,065$7,440$6,861$6,099
9 years$8,330$7,610$6,947$6,337$5,778$5,050
10 years$7,421$6,708$6,056$5,463$4,923$4,229
11 years$6,678$5,972$5,332$4,754$4,234$3,573
12 years$6,059$5,360$4,732$4,170$3,669$3,041
13 years$5,535$4,844$4,228$3,682$3,200$2,603
14 years$5,087$4,403$3,799$3,268$2,805$2,239
15 years$4,699$4,022$3,430$2,915$2,470$1,934
16 years$4,359$3,690$3,109$2,610$2,183$1,676
17 years$4,060$3,398$2,829$2,345$1,935$1,456
18 years$3,795$3,140$2,583$2,113$1,721$1,269
19 years$3,558$2,910$2,365$1,909$1,534$1,108
20 years$3,344$2,704$2,170$1,729$1,370$969
21 years$3,152$2,519$1,996$1,569$1,226$849
22 years$2,977$2,351$1,840$1,427$1,099$745
23 years$2,817$2,199$1,699$1,300$986$654
24 years$2,671$2,061$1,571$1,185$887$575
25 years$2,537$1,934$1,455$1,083$798$506
26 years$2,413$1,817$1,349$990$719$446
27 years$2,299$1,710$1,253$906$648$393
28 years$2,193$1,612$1,165$830$585$346
29 years$2,095$1,520$1,084$761$528$305
30 years$2,003$1,436$1,010$699$477$270
31 years$1,917$1,357$941$642$431$238
32 years$1,837$1,284$878$590$390$210
33 years$1,762$1,216$820$542$353$186
34 years$1,692$1,153$766$499$320$164
35 years$1,625$1,093$716$459$290$145
36 years$1,563$1,038$670$423$262$128
37 years$1,504$986$627$390$238$114
38 years$1,448$937$587$359$216$100
39 years$1,395$891$550$331$195$89
40 years$1,345$847$516$305$177$79
41 years$1,298$807$484$282$161$70
42 years$1,253$768$454$260$146$62
43 years$1,210$732$426$240$132$55
44 years$1,169$698$400$222$120$48
45 years$1,130$665$375$205$109$43
46 years$1,093$635$352$189$99$38
47 years$1,058$606$331$175$90$33
48 years$1,024$578$311$161$82$30
49 years$992$552$292$149$74$26
50 years$961$528$275$138$67$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $984,000, adding $5,076 every year, while hoping to spend $28,994 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: 40/43/17 Blend
58$984,000$984,000$984,000$984,000
59$1,089,604$1,037,452$1,022,200$1,127,502
60$1,169,894$1,057,438$1,025,594$1,174,944
61$1,257,402$1,077,431$1,028,130$1,223,047
62$1,352,834$1,097,402$1,029,749$1,274,474
63$1,456,965$1,117,317$1,030,388$1,329,540
64$1,570,652$1,137,141$1,029,983$1,388,596
65$1,694,834$1,156,837$1,028,463$1,452,027
66$1,830,548$1,176,363$1,025,758$1,520,259
67$1,978,935$1,195,676$1,021,791$1,593,761
68$2,141,250$1,214,727$1,016,484$1,673,052
69$2,318,875$1,233,467$1,009,754$1,758,704
70$2,513,334$1,251,840$1,001,515$1,851,348
71$2,726,302$1,269,788$991,673$1,951,681
72$2,959,626$1,287,249$980,136$2,060,472
73$3,215,339$1,304,156$966,802$2,178,569
74$3,495,681$1,320,437$951,567$2,306,908
75$3,803,117$1,336,015$934,321$2,446,525
76$4,140,365$1,350,809$914,951$2,598,558
77$4,510,415$1,364,732$893,335$2,764,267
78$4,916,565$1,377,691$869,349$2,945,040
79$5,362,443$1,389,587$842,861$3,142,410
80$5,852,049$1,400,314$813,734$3,358,068
81$6,389,789$1,409,759$781,824$3,593,879
82$6,980,513$1,417,804$746,981$3,851,904
83$7,629,570$1,424,320$709,049$4,134,412
84$8,342,846$1,429,172$667,863$4,443,911
85$9,126,832$1,432,217$623,251$4,783,165
86$9,988,673$1,433,300$575,035$5,155,225
87$10,936,247$1,432,261$523,027$5,563,456
88$11,978,227$1,428,925$467,032$6,011,570
89$13,124,174$1,423,110$406,845$6,503,662
90$14,384,619$1,414,621$342,253$7,044,250
91$15,771,165$1,403,253$273,034$7,638,317
92$17,296,597$1,388,785$198,954$8,291,358
93$18,975,002$1,370,988$119,771$9,009,436
94$20,821,900$1,349,614$35,231$9,799,236
95$22,854,392$1,324,403$0$10,668,135
96$25,091,320$1,295,080$0$11,634,238
97$27,553,448$1,261,351$0$12,704,009
98$30,263,651$1,222,909$0$13,880,995
99$33,247,138$1,179,426$0$15,176,160
100$36,531,682$1,130,554$0$16,601,591