Can I retire at age 59 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$81,506$80,780$80,071$79,380$78,705$77,625
2 years$40,349$39,598$38,870$38,163$37,478$36,392
3 years$26,632$25,878$25,151$24,452$23,778$22,719
4 years$19,775$19,023$18,304$17,616$16,959$15,936
5 years$15,662$14,914$14,204$13,531$12,892$11,908
6 years$12,921$12,178$11,479$10,821$10,201$9,256
7 years$10,963$10,227$9,539$8,896$8,296$7,392
8 years$9,496$8,767$8,090$7,463$6,882$6,018
9 years$8,356$7,633$6,968$6,357$5,796$4,972
10 years$7,444$6,728$6,075$5,480$4,938$4,153
11 years$6,698$5,990$5,348$4,769$4,247$3,500
12 years$6,077$5,376$4,746$4,183$3,680$2,971
13 years$5,552$4,858$4,241$3,693$3,209$2,537
14 years$5,102$4,416$3,810$3,278$2,813$2,176
15 years$4,713$4,034$3,440$2,924$2,477$1,874
16 years$4,373$3,701$3,119$2,618$2,189$1,620
17 years$4,073$3,409$2,838$2,352$1,941$1,404
18 years$3,806$3,150$2,591$2,120$1,726$1,220
19 years$3,568$2,919$2,372$1,915$1,538$1,062
20 years$3,355$2,713$2,177$1,735$1,374$926
21 years$3,161$2,527$2,002$1,574$1,230$809
22 years$2,986$2,359$1,845$1,431$1,102$707
23 years$2,826$2,206$1,704$1,304$989$619
24 years$2,679$2,067$1,576$1,189$889$543
25 years$2,545$1,940$1,459$1,086$800$476
26 years$2,421$1,823$1,354$993$721$418
27 years$2,306$1,716$1,257$909$650$367
28 years$2,200$1,617$1,168$833$586$323
29 years$2,101$1,525$1,087$764$530$284
30 years$2,009$1,440$1,013$701$478$250
31 years$1,923$1,362$944$644$433$220
32 years$1,843$1,288$881$591$391$193
33 years$1,768$1,220$823$544$354$170
34 years$1,697$1,156$769$500$321$150
35 years$1,630$1,097$719$461$290$132
36 years$1,568$1,041$672$424$263$117
37 years$1,508$989$629$391$238$103
38 years$1,452$940$589$360$216$91
39 years$1,400$893$552$332$196$80
40 years$1,349$850$517$306$178$70
41 years$1,302$809$485$283$161$62
42 years$1,257$771$455$261$146$55
43 years$1,214$734$427$241$133$48
44 years$1,173$700$401$222$121$43
45 years$1,134$667$376$205$109$38
46 years$1,097$637$354$190$99$33
47 years$1,061$608$332$175$90$29
48 years$1,027$580$312$162$82$26
49 years$995$554$293$150$74$23
50 years$964$529$276$138$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $987,000, adding $4,993 every year, while hoping to spend $25,768 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: 66/10/24 Blend
58$987,000$987,000$987,000$987,000
59$1,092,824$1,040,513$1,025,215$1,157,864
60$1,176,875$1,064,081$1,032,143$1,225,800
61$1,268,636$1,087,941$1,038,439$1,296,674
62$1,368,866$1,112,079$1,044,055$1,373,569
63$1,478,400$1,136,480$1,048,940$1,457,081
64$1,598,158$1,161,129$1,053,042$1,547,862
65$1,729,154$1,186,009$1,056,303$1,646,636
66$1,872,504$1,211,099$1,058,665$1,754,195
67$2,029,434$1,236,378$1,060,065$1,871,417
68$2,201,299$1,261,823$1,060,440$1,999,266
69$2,389,587$1,287,408$1,059,720$2,138,806
70$2,595,939$1,313,105$1,057,834$2,291,209
71$2,822,161$1,338,883$1,054,708$2,457,768
72$3,070,242$1,364,709$1,050,262$2,639,906
73$3,342,375$1,390,549$1,044,414$2,839,195
74$3,640,974$1,416,361$1,037,078$3,057,363
75$3,968,696$1,442,106$1,028,163$3,296,318
76$4,328,470$1,467,736$1,017,573$3,558,161
77$4,723,523$1,493,204$1,005,211$3,845,210
78$5,157,408$1,518,457$990,971$4,160,018
79$5,634,040$1,543,438$974,745$4,505,399
80$6,157,731$1,568,086$956,419$4,884,455
81$6,733,233$1,592,335$935,872$5,300,606
82$7,365,780$1,616,117$912,981$5,757,620
83$8,061,139$1,639,355$887,615$6,259,650
84$8,825,661$1,661,970$859,636$6,811,276
85$9,666,346$1,683,874$828,902$7,417,544
86$10,590,906$1,704,977$795,263$8,084,016
87$11,607,837$1,725,179$758,562$8,816,821
88$12,726,500$1,744,376$718,638$9,622,718
89$13,957,208$1,762,456$675,317$10,509,153
90$15,311,325$1,779,298$628,422$11,484,335
91$16,801,373$1,794,776$577,767$12,557,311
92$18,441,147$1,808,754$523,156$13,738,053
93$20,245,847$1,821,087$464,385$15,037,551
94$22,232,224$1,831,620$401,242$16,467,919
95$24,418,732$1,840,191$333,505$18,042,506
96$26,825,707$1,846,624$260,942$19,776,029
97$29,475,555$1,850,735$183,310$21,684,704
98$32,392,968$1,852,327$100,356$23,786,405
99$35,605,150$1,851,190$11,817$26,100,834
100$39,142,079$1,847,103$0$28,649,703