Can I retire at age 59 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$81,340$80,616$79,909$79,219$78,545$76,306
2 years$40,268$39,518$38,791$38,086$37,403$35,164
3 years$26,578$25,825$25,100$24,402$23,730$21,562
4 years$19,735$18,984$18,267$17,580$16,924$14,844
5 years$15,630$14,884$14,176$13,503$12,866$10,879
6 years$12,895$12,154$11,456$10,799$10,180$8,288
7 years$10,941$10,207$9,520$8,878$8,279$6,482
8 years$9,477$8,749$8,074$7,448$6,868$5,165
9 years$8,339$7,618$6,954$6,344$5,784$4,173
10 years$7,429$6,715$6,063$5,468$4,928$3,408
11 years$6,684$5,978$5,337$4,759$4,239$2,805
12 years$6,065$5,365$4,737$4,174$3,673$2,325
13 years$5,541$4,849$4,232$3,685$3,203$1,937
14 years$5,092$4,407$3,802$3,271$2,808$1,620
15 years$4,704$4,026$3,433$2,918$2,472$1,360
16 years$4,364$3,694$3,113$2,612$2,185$1,145
17 years$4,065$3,402$2,832$2,347$1,937$966
18 years$3,799$3,143$2,586$2,115$1,723$817
19 years$3,561$2,913$2,367$1,911$1,535$692
20 years$3,348$2,707$2,172$1,731$1,371$587
21 years$3,155$2,522$1,998$1,571$1,227$498
22 years$2,980$2,354$1,842$1,428$1,100$424
23 years$2,820$2,202$1,700$1,301$987$360
24 years$2,674$2,063$1,573$1,187$888$307
25 years$2,539$1,936$1,456$1,084$799$261
26 years$2,416$1,819$1,351$991$719$223
27 years$2,301$1,712$1,254$907$649$190
28 years$2,195$1,613$1,166$831$585$162
29 years$2,097$1,522$1,085$762$528$138
30 years$2,005$1,437$1,011$699$477$118
31 years$1,919$1,359$942$642$432$101
32 years$1,839$1,286$879$590$391$86
33 years$1,764$1,218$821$543$353$73
34 years$1,693$1,154$767$499$320$63
35 years$1,627$1,095$717$460$290$53
36 years$1,564$1,039$671$423$263$46
37 years$1,505$987$628$390$238$39
38 years$1,450$938$588$360$216$33
39 years$1,397$892$551$332$196$28
40 years$1,347$848$516$306$177$24
41 years$1,299$808$484$282$161$21
42 years$1,254$769$454$260$146$18
43 years$1,211$733$426$240$133$15
44 years$1,170$698$400$222$120$13
45 years$1,131$666$376$205$109$11
46 years$1,094$635$353$189$99$9
47 years$1,059$606$331$175$90$8
48 years$1,025$579$311$162$82$7
49 years$993$553$293$149$74$6
50 years$962$528$275$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $985,000, adding $6,491 every year, while hoping to spend $50,918 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: 82/13/5 Blend
58$985,000$985,000$985,000$985,000
59$1,092,165$1,039,960$1,024,693$1,181,081
60$1,149,390$1,036,742$1,004,844$1,236,908
61$1,210,745$1,031,660$982,623$1,290,666
62$1,276,598$1,024,568$957,898$1,348,089
63$1,347,352$1,015,313$930,528$1,409,516
64$1,423,449$1,003,731$900,369$1,475,314
65$1,505,377$989,650$867,268$1,545,894
66$1,593,669$972,886$831,064$1,621,704
67$1,688,911$953,245$791,593$1,703,239
68$1,791,747$930,521$748,678$1,791,044
69$1,902,886$904,497$702,139$1,885,720
70$2,023,105$874,942$651,785$1,987,928
71$2,153,258$841,611$597,417$2,098,399
72$2,294,287$804,247$538,827$2,217,936
73$2,447,225$762,576$475,799$2,347,424
74$2,613,209$716,309$408,105$2,487,840
75$2,793,489$665,140$335,509$2,640,260
76$2,989,440$608,747$257,763$2,805,870
77$3,202,574$546,787$174,610$2,985,978
78$3,434,557$478,900$85,780$3,182,024
79$3,687,220$404,704$0$3,395,598
80$3,962,578$323,797$0$3,628,931
81$4,262,850$235,751$0$3,888,389
82$4,590,476$140,118$0$4,171,534
83$4,948,143$36,423$0$4,480,731
84$5,338,810$0$0$4,818,584
85$5,765,733$0$0$5,198,811
86$6,232,496$0$0$5,620,240
87$6,743,047$0$0$6,081,226
88$7,301,731$0$0$6,585,695
89$7,913,334$0$0$7,137,972
90$8,583,126$0$0$7,742,819
91$9,316,909$0$0$8,405,478
92$10,121,075$0$0$9,131,724
93$11,002,661$0$0$9,927,917
94$11,969,421$0$0$10,801,062
95$13,029,891$0$0$11,758,874
96$14,193,477$0$0$12,809,849
97$15,470,536$0$0$13,963,349
98$16,872,479$0$0$15,229,682
99$18,411,874$0$0$16,620,207
100$20,102,567$0$0$18,147,434