Can I retire at age 59 with 989,000?

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 $989,000?

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$81,671$80,943$80,233$79,541$78,864$78,334
2 years$40,431$39,678$38,948$38,241$37,554$37,020
3 years$26,686$25,930$25,202$24,501$23,826$23,304
4 years$19,815$19,061$18,341$17,652$16,993$16,487
5 years$15,694$14,944$14,233$13,558$12,918$12,429
6 years$12,947$12,203$11,502$10,843$10,221$9,751
7 years$10,986$10,248$9,559$8,914$8,313$7,861
8 years$9,515$8,785$8,106$7,478$6,896$6,462
9 years$8,373$7,649$6,982$6,370$5,808$5,392
10 years$7,459$6,742$6,087$5,491$4,948$4,551
11 years$6,712$6,002$5,359$4,779$4,256$3,876
12 years$6,089$5,387$4,756$4,191$3,688$3,326
13 years$5,563$4,868$4,249$3,700$3,216$2,871
14 years$5,113$4,425$3,818$3,285$2,819$2,491
15 years$4,723$4,042$3,447$2,929$2,482$2,170
16 years$4,382$3,709$3,125$2,623$2,194$1,897
17 years$4,081$3,416$2,844$2,357$1,945$1,664
18 years$3,814$3,156$2,596$2,124$1,730$1,463
19 years$3,576$2,925$2,377$1,919$1,542$1,290
20 years$3,361$2,718$2,181$1,738$1,377$1,139
21 years$3,168$2,532$2,006$1,577$1,232$1,007
22 years$2,992$2,363$1,849$1,434$1,104$892
23 years$2,831$2,210$1,707$1,306$991$791
24 years$2,685$2,071$1,579$1,191$891$703
25 years$2,550$1,944$1,462$1,088$802$625
26 years$2,426$1,827$1,356$995$722$556
27 years$2,311$1,719$1,259$911$651$495
28 years$2,204$1,620$1,171$834$588$441
29 years$2,105$1,528$1,090$765$531$393
30 years$2,013$1,443$1,015$702$479$351
31 years$1,927$1,364$946$645$433$313
32 years$1,847$1,291$883$593$392$279
33 years$1,771$1,223$824$545$355$250
34 years$1,700$1,159$770$501$321$223
35 years$1,634$1,099$720$462$291$199
36 years$1,571$1,043$674$425$264$178
37 years$1,511$991$630$392$239$159
38 years$1,455$942$590$361$217$143
39 years$1,402$895$553$333$196$128
40 years$1,352$852$518$307$178$114
41 years$1,304$811$486$283$162$102
42 years$1,259$772$456$261$147$91
43 years$1,216$736$428$241$133$82
44 years$1,175$701$402$223$121$73
45 years$1,136$669$377$206$110$66
46 years$1,099$638$354$190$100$59
47 years$1,063$609$333$176$90$53
48 years$1,029$581$313$162$82$47
49 years$997$555$294$150$75$42
50 years$966$530$276$139$68$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $989,000, adding $5,313 every year, while hoping to spend $28,673 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: 70/18/12 Blend
58$989,000$989,000$989,000$989,000
59$1,095,358$1,042,941$1,027,612$1,168,870
60$1,176,577$1,063,538$1,031,529$1,238,929
61$1,265,119$1,084,182$1,034,616$1,311,592
62$1,361,701$1,104,847$1,036,816$1,390,354
63$1,467,112$1,125,502$1,038,067$1,475,809
64$1,582,220$1,146,114$1,038,305$1,568,614
65$1,707,981$1,166,648$1,037,463$1,669,491
66$1,845,448$1,187,067$1,035,470$1,779,235
67$1,995,779$1,207,328$1,032,253$1,898,725
68$2,160,249$1,227,388$1,027,735$2,028,925
69$2,340,264$1,247,200$1,021,833$2,170,901
70$2,537,370$1,266,711$1,014,464$2,325,826
71$2,753,270$1,285,869$1,005,537$2,494,992
72$2,989,841$1,304,613$994,959$2,679,824
73$3,249,147$1,322,882$982,633$2,881,891
74$3,533,464$1,340,607$968,455$3,102,923
75$3,845,298$1,357,718$952,320$3,344,826
76$4,187,409$1,374,137$934,113$3,609,702
77$4,562,837$1,389,782$913,718$3,899,865
78$4,974,931$1,404,565$891,011$4,217,866
79$5,427,378$1,418,393$865,865$4,566,518
80$5,924,243$1,431,166$838,143$4,948,919
81$6,470,001$1,442,779$807,706$5,368,485
82$7,069,583$1,453,117$774,406$5,828,980
83$7,728,421$1,462,060$738,090$6,334,553
84$8,452,500$1,469,481$698,595$6,889,775
85$9,248,411$1,475,242$655,755$7,499,687
86$10,123,419$1,479,199$609,393$8,169,841
87$11,085,526$1,481,197$559,325$8,906,359
88$12,143,547$1,481,073$505,360$9,715,987
89$13,307,196$1,478,653$447,297$10,606,161
90$14,587,174$1,473,752$384,926$11,585,075
91$15,995,274$1,466,174$318,029$12,661,761
92$17,544,487$1,455,712$246,378$13,846,174
93$19,249,127$1,442,144$169,734$15,149,285
94$21,124,966$1,425,237$87,848$16,583,184
95$23,189,382$1,404,743$460$18,161,200
96$25,461,523$1,380,399$0$19,898,018
97$27,962,488$1,351,928$0$21,821,711
98$30,715,523$1,319,034$0$23,939,071
99$33,746,245$1,281,405$0$26,269,740
100$37,082,879$1,238,711$0$28,835,430