Can I retire at age 59 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$81,423$80,698$79,990$79,299$78,625$76,693
2 years$40,308$39,558$38,830$38,125$37,440$35,506
3 years$26,605$25,851$25,126$24,427$23,754$21,877
4 years$19,755$19,004$18,285$17,598$16,941$15,137
5 years$15,646$14,899$14,190$13,517$12,879$11,152
6 years$12,908$12,166$11,468$10,810$10,190$8,543
7 years$10,952$10,217$9,530$8,887$8,288$6,719
8 years$9,487$8,758$8,082$7,455$6,875$5,386
9 years$8,347$7,625$6,961$6,350$5,790$4,378
10 years$7,436$6,721$6,069$5,474$4,933$3,597
11 years$6,691$5,984$5,343$4,764$4,243$2,980
12 years$6,071$5,371$4,742$4,179$3,677$2,486
13 years$5,546$4,853$4,236$3,689$3,206$2,085
14 years$5,097$4,412$3,806$3,275$2,811$1,756
15 years$4,708$4,030$3,437$2,921$2,475$1,485
16 years$4,368$3,698$3,116$2,615$2,187$1,259
17 years$4,069$3,405$2,835$2,350$1,939$1,070
18 years$3,803$3,147$2,588$2,117$1,724$911
19 years$3,565$2,916$2,369$1,913$1,537$778
20 years$3,351$2,710$2,174$1,733$1,373$665
21 years$3,158$2,524$2,000$1,573$1,228$569
22 years$2,983$2,356$1,843$1,430$1,101$487
23 years$2,823$2,204$1,702$1,302$988$418
24 years$2,676$2,065$1,574$1,188$888$358
25 years$2,542$1,938$1,458$1,085$799$308
26 years$2,418$1,821$1,352$992$720$264
27 years$2,304$1,714$1,256$908$649$227
28 years$2,198$1,615$1,167$832$586$195
29 years$2,099$1,524$1,086$763$529$168
30 years$2,007$1,439$1,012$700$478$145
31 years$1,921$1,360$943$643$432$124
32 years$1,841$1,287$880$591$391$107
33 years$1,766$1,219$822$543$354$92
34 years$1,695$1,155$768$500$320$79
35 years$1,629$1,096$718$460$290$68
36 years$1,566$1,040$672$424$263$59
37 years$1,507$988$629$391$238$51
38 years$1,451$939$589$360$216$44
39 years$1,398$893$551$332$196$38
40 years$1,348$849$517$306$178$32
41 years$1,300$808$485$282$161$28
42 years$1,255$770$455$261$146$24
43 years$1,212$734$427$241$133$21
44 years$1,172$699$400$222$120$18
45 years$1,133$667$376$205$109$15
46 years$1,095$636$353$190$99$13
47 years$1,060$607$332$175$90$11
48 years$1,026$579$312$162$82$10
49 years$994$553$293$150$74$9
50 years$963$529$276$138$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $986,000, adding $3,663 every year, while hoping to spend $32,883 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: 51/23/26 Blend
58$986,000$986,000$986,000$986,000
59$1,090,350$1,038,092$1,022,809$1,137,826
60$1,166,579$1,053,972$1,022,086$1,187,096
61$1,249,481$1,069,527$1,020,237$1,237,024
62$1,339,701$1,084,708$1,017,189$1,290,655
63$1,437,952$1,099,459$1,012,866$1,348,356
64$1,545,015$1,113,725$1,007,188$1,410,531
65$1,661,750$1,127,441$1,000,073$1,477,626
66$1,789,106$1,140,543$991,432$1,550,134
67$1,928,124$1,152,959$981,175$1,628,600
68$2,079,953$1,164,614$969,204$1,713,625
69$2,245,856$1,175,428$955,421$1,805,873
70$2,427,224$1,185,315$939,718$1,906,076
71$2,625,589$1,194,183$921,986$2,015,044
72$2,842,637$1,201,936$902,111$2,133,671
73$3,080,225$1,208,469$879,970$2,262,942
74$3,340,397$1,213,674$855,439$2,403,947
75$3,625,405$1,217,432$828,384$2,557,886
76$3,937,730$1,219,619$798,668$2,726,088
77$4,280,101$1,220,103$766,146$2,910,016
78$4,655,527$1,218,744$730,668$3,111,286
79$5,067,321$1,215,392$692,075$3,331,682
80$5,519,130$1,209,889$650,202$3,573,172
81$6,014,975$1,202,067$604,878$3,837,928
82$6,559,283$1,191,748$555,921$4,128,346
83$7,156,929$1,178,743$503,143$4,447,073
84$7,813,286$1,162,852$446,349$4,797,025
85$8,534,271$1,143,862$385,332$5,181,423
86$9,326,404$1,121,549$319,878$5,603,818
87$10,196,866$1,095,673$249,762$6,068,129
88$11,153,569$1,065,984$174,752$6,578,679
89$12,205,229$1,032,213$94,602$7,140,238
90$13,361,449$994,079$9,059$7,758,065
91$14,632,810$951,281$0$8,437,963
92$16,030,967$903,504$0$9,209,145
93$17,568,762$850,413$0$10,060,022
94$19,260,346$791,653$0$10,995,946
95$21,121,307$726,850$0$12,025,586
96$23,168,824$655,609$0$13,158,501
97$25,421,821$577,511$0$14,405,226
98$27,901,152$492,114$0$15,777,373
99$30,629,794$398,952$0$17,287,742
100$33,633,062$297,530$0$18,950,442