Can I retire at age 59 with 987,000?

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 $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%11.6%
1 years$81,506$80,780$80,071$79,380$78,705$78,176
2 years$40,349$39,598$38,870$38,163$37,478$36,945
3 years$26,632$25,878$25,151$24,452$23,778$23,257
4 years$19,775$19,023$18,304$17,616$16,959$16,453
5 years$15,662$14,914$14,204$13,531$12,892$12,404
6 years$12,921$12,178$11,479$10,821$10,201$9,731
7 years$10,963$10,227$9,539$8,896$8,296$7,845
8 years$9,496$8,767$8,090$7,463$6,882$6,449
9 years$8,356$7,633$6,968$6,357$5,796$5,381
10 years$7,444$6,728$6,075$5,480$4,938$4,542
11 years$6,698$5,990$5,348$4,769$4,247$3,868
12 years$6,077$5,376$4,746$4,183$3,680$3,319
13 years$5,552$4,858$4,241$3,693$3,209$2,865
14 years$5,102$4,416$3,810$3,278$2,813$2,486
15 years$4,713$4,034$3,440$2,924$2,477$2,166
16 years$4,373$3,701$3,119$2,618$2,189$1,893
17 years$4,073$3,409$2,838$2,352$1,941$1,661
18 years$3,806$3,150$2,591$2,120$1,726$1,460
19 years$3,568$2,919$2,372$1,915$1,538$1,287
20 years$3,355$2,713$2,177$1,735$1,374$1,136
21 years$3,161$2,527$2,002$1,574$1,230$1,005
22 years$2,986$2,359$1,845$1,431$1,102$890
23 years$2,826$2,206$1,704$1,304$989$790
24 years$2,679$2,067$1,576$1,189$889$701
25 years$2,545$1,940$1,459$1,086$800$623
26 years$2,421$1,823$1,354$993$721$555
27 years$2,306$1,716$1,257$909$650$494
28 years$2,200$1,617$1,168$833$586$440
29 years$2,101$1,525$1,087$764$530$392
30 years$2,009$1,440$1,013$701$478$350
31 years$1,923$1,362$944$644$433$312
32 years$1,843$1,288$881$591$391$279
33 years$1,768$1,220$823$544$354$249
34 years$1,697$1,156$769$500$321$223
35 years$1,630$1,097$719$461$290$199
36 years$1,568$1,041$672$424$263$178
37 years$1,508$989$629$391$238$159
38 years$1,452$940$589$360$216$142
39 years$1,400$893$552$332$196$127
40 years$1,349$850$517$306$178$114
41 years$1,302$809$485$283$161$102
42 years$1,257$771$455$261$146$91
43 years$1,214$734$427$241$133$82
44 years$1,173$700$401$222$121$73
45 years$1,134$667$376$205$109$65
46 years$1,097$637$354$190$99$59
47 years$1,061$608$332$175$90$52
48 years$1,027$580$312$162$82$47
49 years$995$554$293$150$74$42
50 years$964$529$276$138$68$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $987,000, adding $3,137 every year, while hoping to spend $40,531 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: 76/13/11 Blend
58$987,000$987,000$987,000$987,000
59$1,090,910$1,038,599$1,023,300$1,171,343
60$1,159,058$1,046,365$1,014,456$1,232,532
61$1,232,799$1,053,154$1,003,957$1,294,143
62$1,312,660$1,058,875$991,706$1,360,538
63$1,399,222$1,063,430$977,598$1,432,179
64$1,493,122$1,066,717$961,527$1,509,574
65$1,595,062$1,068,628$943,380$1,593,283
66$1,705,813$1,069,046$923,038$1,683,923
67$1,826,225$1,067,848$900,379$1,782,175
68$1,957,231$1,064,904$875,273$1,888,787
69$2,099,859$1,060,075$847,585$2,004,587
70$2,255,239$1,053,213$817,174$2,130,485
71$2,424,616$1,044,162$783,891$2,267,486
72$2,609,358$1,032,758$747,583$2,416,695
73$2,810,973$1,018,823$708,087$2,579,334
74$3,031,120$1,002,173$665,236$2,756,747
75$3,271,625$982,610$618,852$2,950,417
76$3,534,498$959,925$568,750$3,161,979
77$3,821,953$933,898$514,740$3,393,234
78$4,136,426$904,293$456,618$3,646,169
79$4,480,602$870,864$394,175$3,922,974
80$4,857,436$833,349$327,192$4,226,063
81$5,270,180$791,469$255,439$4,558,097
82$5,722,419$744,931$178,676$4,922,011
83$6,218,098$693,425$96,655$5,321,039
84$6,761,565$636,624$9,114$5,758,748
85$7,357,605$574,179$0$6,239,068
86$8,011,493$505,726$0$6,776,229
87$8,729,034$430,875$0$7,366,897
88$9,516,626$349,218$0$8,015,304
89$10,381,315$260,323$0$8,727,291
90$11,330,863$163,733$0$9,509,297
91$12,373,820$58,966$0$10,368,418
92$13,519,607$0$0$11,312,473
93$14,778,599$0$0$12,357,873
94$16,162,227$0$0$13,516,076
95$17,683,087$0$0$14,789,192
96$19,355,052$0$0$16,188,843
97$21,193,409$0$0$17,727,829
98$23,214,998$0$0$19,420,256
99$25,438,375$0$0$21,281,661
100$27,883,984$0$0$23,329,167