Can I retire at age 59 with 986,000?

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 $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%11.3%
1 years$81,423$80,698$79,990$79,299$78,625$78,195
2 years$40,308$39,558$38,830$38,125$37,440$37,007
3 years$26,605$25,851$25,126$24,427$23,754$23,329
4 years$19,755$19,004$18,285$17,598$16,941$16,530
5 years$15,646$14,899$14,190$13,517$12,879$12,481
6 years$12,908$12,166$11,468$10,810$10,190$9,807
7 years$10,952$10,217$9,530$8,887$8,288$7,919
8 years$9,487$8,758$8,082$7,455$6,875$6,522
9 years$8,347$7,625$6,961$6,350$5,790$5,451
10 years$7,436$6,721$6,069$5,474$4,933$4,609
11 years$6,691$5,984$5,343$4,764$4,243$3,933
12 years$6,071$5,371$4,742$4,179$3,677$3,381
13 years$5,546$4,853$4,236$3,689$3,206$2,924
14 years$5,097$4,412$3,806$3,275$2,811$2,542
15 years$4,708$4,030$3,437$2,921$2,475$2,219
16 years$4,368$3,698$3,116$2,615$2,187$1,944
17 years$4,069$3,405$2,835$2,350$1,939$1,708
18 years$3,803$3,147$2,588$2,117$1,724$1,505
19 years$3,565$2,916$2,369$1,913$1,537$1,330
20 years$3,351$2,710$2,174$1,733$1,373$1,177
21 years$3,158$2,524$2,000$1,573$1,228$1,043
22 years$2,983$2,356$1,843$1,430$1,101$926
23 years$2,823$2,204$1,702$1,302$988$823
24 years$2,676$2,065$1,574$1,188$888$733
25 years$2,542$1,938$1,458$1,085$799$653
26 years$2,418$1,821$1,352$992$720$582
27 years$2,304$1,714$1,256$908$649$520
28 years$2,198$1,615$1,167$832$586$464
29 years$2,099$1,524$1,086$763$529$415
30 years$2,007$1,439$1,012$700$478$371
31 years$1,921$1,360$943$643$432$332
32 years$1,841$1,287$880$591$391$297
33 years$1,766$1,219$822$543$354$266
34 years$1,695$1,155$768$500$320$238
35 years$1,629$1,096$718$460$290$213
36 years$1,566$1,040$672$424$263$191
37 years$1,507$988$629$391$238$172
38 years$1,451$939$589$360$216$154
39 years$1,398$893$551$332$196$138
40 years$1,348$849$517$306$178$124
41 years$1,300$808$485$282$161$111
42 years$1,255$770$455$261$146$100
43 years$1,212$734$427$241$133$89
44 years$1,172$699$400$222$120$80
45 years$1,133$667$376$205$109$72
46 years$1,095$636$353$190$99$65
47 years$1,060$607$332$175$90$58
48 years$1,026$579$312$162$82$52
49 years$994$553$293$150$74$47
50 years$963$529$276$138$68$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $986,000, adding $3,197 every year, while hoping to spend $56,854 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: 53/40/7 Blend
58$986,000$986,000$986,000$986,000
59$1,089,870$1,037,612$1,022,329$1,145,641
60$1,140,544$1,027,962$996,085$1,174,139
61$1,194,482$1,015,935$967,056$1,198,640
62$1,251,956$1,001,352$935,089$1,223,926
63$1,313,265$984,028$900,024$1,250,082
64$1,378,736$963,763$861,692$1,277,204
65$1,448,728$940,349$819,920$1,305,400
66$1,523,633$913,561$774,523$1,334,795
67$1,603,885$883,166$725,310$1,365,526
68$1,689,954$848,914$672,081$1,397,753
69$1,782,360$810,542$614,626$1,431,652
70$1,881,672$767,770$552,728$1,467,423
71$1,988,516$720,305$486,158$1,505,291
72$2,103,578$667,833$414,677$1,545,509
73$2,227,612$610,025$338,037$1,588,362
74$2,361,445$546,533$255,978$1,634,167
75$2,505,988$476,989$168,229$1,683,283
76$2,662,239$401,002$74,506$1,736,110
77$2,831,299$318,162$0$1,793,095
78$3,014,374$228,035$0$1,856,646
79$3,212,793$130,161$0$1,931,479
80$3,428,016$24,057$0$2,012,673
81$3,661,648$0$0$2,100,951
82$3,915,455$0$0$2,237,081
83$4,191,382$0$0$2,396,671
84$4,491,564$0$0$2,570,377
85$4,818,353$0$0$2,759,574
86$5,174,338$0$0$2,965,769
87$5,562,365$0$0$3,190,625
88$5,985,568$0$0$3,435,970
89$6,447,397$0$0$3,703,817
90$6,951,649$0$0$3,996,382
91$7,502,503$0$0$4,316,104
92$8,104,560$0$0$4,665,669
93$8,762,887$0$0$5,048,033
94$9,483,060$0$0$5,466,451
95$10,271,221$0$0$5,924,510
96$11,134,132$0$0$6,426,155
97$12,079,241$0$0$6,975,734
98$13,114,747$0$0$7,578,035
99$14,249,683$0$0$8,238,331
100$15,493,996$0$0$8,962,427