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%15.4%
1 years$81,423$80,698$79,990$79,299$78,625$76,880
2 years$40,308$39,558$38,830$38,125$37,440$35,692
3 years$26,605$25,851$25,126$24,427$23,754$22,056
4 years$19,755$19,004$18,285$17,598$16,941$15,307
5 years$15,646$14,899$14,190$13,517$12,879$11,313
6 years$12,908$12,166$11,468$10,810$10,190$8,694
7 years$10,952$10,217$9,530$8,887$8,288$6,862
8 years$9,487$8,758$8,082$7,455$6,875$5,519
9 years$8,347$7,625$6,961$6,350$5,790$4,503
10 years$7,436$6,721$6,069$5,474$4,933$3,713
11 years$6,691$5,984$5,343$4,764$4,243$3,088
12 years$6,071$5,371$4,742$4,179$3,677$2,586
13 years$5,546$4,853$4,236$3,689$3,206$2,178
14 years$5,097$4,412$3,806$3,275$2,811$1,842
15 years$4,708$4,030$3,437$2,921$2,475$1,564
16 years$4,368$3,698$3,116$2,615$2,187$1,331
17 years$4,069$3,405$2,835$2,350$1,939$1,137
18 years$3,803$3,147$2,588$2,117$1,724$973
19 years$3,565$2,916$2,369$1,913$1,537$834
20 years$3,351$2,710$2,174$1,733$1,373$716
21 years$3,158$2,524$2,000$1,573$1,228$615
22 years$2,983$2,356$1,843$1,430$1,101$529
23 years$2,823$2,204$1,702$1,302$988$456
24 years$2,676$2,065$1,574$1,188$888$393
25 years$2,542$1,938$1,458$1,085$799$339
26 years$2,418$1,821$1,352$992$720$293
27 years$2,304$1,714$1,256$908$649$253
28 years$2,198$1,615$1,167$832$586$219
29 years$2,099$1,524$1,086$763$529$189
30 years$2,007$1,439$1,012$700$478$163
31 years$1,921$1,360$943$643$432$141
32 years$1,841$1,287$880$591$391$122
33 years$1,766$1,219$822$543$354$106
34 years$1,695$1,155$768$500$320$92
35 years$1,629$1,096$718$460$290$79
36 years$1,566$1,040$672$424$263$69
37 years$1,507$988$629$391$238$59
38 years$1,451$939$589$360$216$51
39 years$1,398$893$551$332$196$45
40 years$1,348$849$517$306$178$39
41 years$1,300$808$485$282$161$33
42 years$1,255$770$455$261$146$29
43 years$1,212$734$427$241$133$25
44 years$1,172$699$400$222$120$22
45 years$1,133$667$376$205$109$19
46 years$1,095$636$353$190$99$16
47 years$1,060$607$332$175$90$14
48 years$1,026$579$312$162$82$12
49 years$994$553$293$150$74$11
50 years$963$529$276$138$68$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $986,000, adding $6,201 every year, while hoping to spend $58,979 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: 26/49/25 Blend
58$986,000$986,000$986,000$986,000
59$1,092,968$1,040,710$1,025,427$1,112,661
60$1,141,698$1,028,952$997,026$1,117,314
61$1,193,421$1,014,641$965,696$1,116,799
62$1,248,381$997,589$931,278$1,115,009
63$1,306,844$977,599$893,604$1,111,874
64$1,369,100$954,460$852,498$1,107,325
65$1,435,469$927,949$807,777$1,101,292
66$1,506,299$897,830$759,250$1,093,702
67$1,581,973$863,855$706,716$1,084,488
68$1,662,910$825,760$649,967$1,073,578
69$1,749,568$783,264$588,782$1,060,905
70$1,842,453$736,072$522,935$1,046,402
71$1,942,116$683,873$452,187$1,030,006
72$2,049,165$626,336$376,288$1,011,656
73$2,164,265$563,111$294,978$991,297
74$2,288,146$493,830$207,986$968,878
75$2,421,612$418,102$115,029$944,356
76$2,565,544$335,517$15,810$917,695
77$2,720,910$245,637$0$888,869
78$2,888,774$148,005$0$881,892
79$3,070,306$42,134$0$878,797
80$3,266,791$0$0$875,466
81$3,479,641$0$0$911,111
82$3,710,411$0$0$974,526
83$3,960,809$0$0$1,043,480
84$4,232,713$0$0$1,118,507
85$4,528,190$0$0$1,200,199
86$4,849,514$0$0$1,289,202
87$5,199,185$0$0$1,386,231
88$5,579,956$0$0$1,492,071
89$5,994,855$0$0$1,607,587
90$6,447,215$0$0$1,733,730
91$6,940,703$0$0$1,871,548
92$7,479,357$0$0$2,022,195
93$8,067,621$0$0$2,186,939
94$8,710,386$0$0$2,367,180
95$9,413,040$0$0$2,564,456
96$10,181,512$0$0$2,780,462
97$11,022,330$0$0$3,017,066
98$11,942,684$0$0$3,276,323
99$12,950,491$0$0$3,560,497
100$14,054,469$0$0$3,872,081