Can I retire at age 59 with 984,000?

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 $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%17.4%
1 years$81,258$80,534$79,828$79,139$78,466$76,106
2 years$40,227$39,477$38,751$38,047$37,365$35,007
3 years$26,551$25,799$25,075$24,377$23,706$21,425
4 years$19,715$18,965$18,248$17,562$16,907$14,720
5 years$15,614$14,869$14,161$13,490$12,852$10,765
6 years$12,881$12,141$11,444$10,788$10,170$8,183
7 years$10,930$10,196$9,510$8,869$8,271$6,386
8 years$9,467$8,740$8,065$7,440$6,861$5,076
9 years$8,330$7,610$6,947$6,337$5,778$4,092
10 years$7,421$6,708$6,056$5,463$4,923$3,333
11 years$6,678$5,972$5,332$4,754$4,234$2,737
12 years$6,059$5,360$4,732$4,170$3,669$2,262
13 years$5,535$4,844$4,228$3,682$3,200$1,879
14 years$5,087$4,403$3,799$3,268$2,805$1,567
15 years$4,699$4,022$3,430$2,915$2,470$1,312
16 years$4,359$3,690$3,109$2,610$2,183$1,101
17 years$4,060$3,398$2,829$2,345$1,935$927
18 years$3,795$3,140$2,583$2,113$1,721$781
19 years$3,558$2,910$2,365$1,909$1,534$660
20 years$3,344$2,704$2,170$1,729$1,370$558
21 years$3,152$2,519$1,996$1,569$1,226$472
22 years$2,977$2,351$1,840$1,427$1,099$400
23 years$2,817$2,199$1,699$1,300$986$339
24 years$2,671$2,061$1,571$1,185$887$288
25 years$2,537$1,934$1,455$1,083$798$244
26 years$2,413$1,817$1,349$990$719$208
27 years$2,299$1,710$1,253$906$648$176
28 years$2,193$1,612$1,165$830$585$150
29 years$2,095$1,520$1,084$761$528$128
30 years$2,003$1,436$1,010$699$477$109
31 years$1,917$1,357$941$642$431$92
32 years$1,837$1,284$878$590$390$79
33 years$1,762$1,216$820$542$353$67
34 years$1,692$1,153$766$499$320$57
35 years$1,625$1,093$716$459$290$48
36 years$1,563$1,038$670$423$262$41
37 years$1,504$986$627$390$238$35
38 years$1,448$937$587$359$216$30
39 years$1,395$891$550$331$195$25
40 years$1,345$847$516$305$177$22
41 years$1,298$807$484$282$161$18
42 years$1,253$768$454$260$146$16
43 years$1,210$732$426$240$132$13
44 years$1,169$698$400$222$120$11
45 years$1,130$665$375$205$109$10
46 years$1,093$635$352$189$99$8
47 years$1,058$606$331$175$90$7
48 years$1,024$578$311$161$82$6
49 years$992$552$292$149$74$5
50 years$961$528$275$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $984,000, adding $6,708 every year, while hoping to spend $25,797 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: 45/34/21 Blend
58$984,000$984,000$984,000$984,000
59$1,091,287$1,039,135$1,023,883$1,133,524
60$1,175,151$1,062,605$1,030,736$1,187,362
61$1,266,704$1,086,360$1,036,953$1,242,645
62$1,366,703$1,110,388$1,042,486$1,302,068
63$1,475,983$1,134,673$1,047,286$1,366,026
64$1,595,460$1,159,198$1,051,297$1,434,959
65$1,726,145$1,183,947$1,054,463$1,509,348
66$1,869,150$1,208,899$1,056,726$1,589,725
67$2,025,701$1,234,032$1,058,023$1,676,676
68$2,197,145$1,259,323$1,058,290$1,770,848
69$2,384,968$1,284,744$1,057,457$1,872,953
70$2,590,807$1,310,268$1,055,454$1,983,777
71$2,816,462$1,335,864$1,052,204$2,104,185
72$3,063,918$1,361,498$1,047,630$2,235,132
73$3,335,359$1,387,134$1,041,648$2,377,672
74$3,633,194$1,412,731$1,034,171$2,532,966
75$3,960,073$1,438,249$1,025,109$2,702,292
76$4,318,918$1,463,640$1,014,367$2,887,064
77$4,712,944$1,488,855$1,001,845$3,088,835
78$5,145,696$1,513,840$987,438$3,309,324
79$5,621,078$1,538,539$971,038$3,550,421
80$6,143,390$1,562,890$952,530$3,814,212
81$6,717,370$1,586,826$931,795$4,102,997
82$7,348,238$1,610,276$908,706$4,419,312
83$8,041,743$1,633,165$883,133$4,765,954
84$8,804,222$1,655,412$854,939$5,146,006
85$9,642,654$1,676,928$823,981$5,562,866
86$10,564,729$1,697,621$790,108$6,020,282
87$11,578,918$1,717,392$753,163$6,522,386
88$12,694,557$1,736,133$712,984$7,073,735
89$13,921,932$1,753,733$669,398$7,679,351
90$15,272,372$1,770,070$622,227$8,344,771
91$16,758,366$1,785,015$571,283$9,076,102
92$18,393,670$1,798,431$516,372$9,880,074
93$20,193,442$1,810,172$457,288$10,764,107
94$22,174,385$1,820,082$393,819$11,736,384
95$24,354,902$1,827,996$325,742$12,805,922
96$26,755,272$1,833,738$252,824$13,982,666
97$29,397,839$1,837,120$174,823$15,277,576
98$32,307,224$1,837,945$91,485$16,702,737
99$35,510,556$1,836,000$2,545$18,271,468
100$39,037,731$1,831,062$0$19,998,456