Can I retire at age 59 with 989,000?

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 $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%17.5%
1 years$81,671$80,943$80,233$79,541$78,864$76,462
2 years$40,431$39,678$38,948$38,241$37,554$35,155
3 years$26,686$25,930$25,202$24,501$23,826$21,505
4 years$19,815$19,061$18,341$17,652$16,993$14,767
5 years$15,694$14,944$14,233$13,558$12,918$10,794
6 years$12,947$12,203$11,502$10,843$10,221$8,201
7 years$10,986$10,248$9,559$8,914$8,313$6,396
8 years$9,515$8,785$8,106$7,478$6,896$5,081
9 years$8,373$7,649$6,982$6,370$5,808$4,093
10 years$7,459$6,742$6,087$5,491$4,948$3,332
11 years$6,712$6,002$5,359$4,779$4,256$2,734
12 years$6,089$5,387$4,756$4,191$3,688$2,258
13 years$5,563$4,868$4,249$3,700$3,216$1,875
14 years$5,113$4,425$3,818$3,285$2,819$1,563
15 years$4,723$4,042$3,447$2,929$2,482$1,307
16 years$4,382$3,709$3,125$2,623$2,194$1,097
17 years$4,081$3,416$2,844$2,357$1,945$922
18 years$3,814$3,156$2,596$2,124$1,730$777
19 years$3,576$2,925$2,377$1,919$1,542$655
20 years$3,361$2,718$2,181$1,738$1,377$554
21 years$3,168$2,532$2,006$1,577$1,232$468
22 years$2,992$2,363$1,849$1,434$1,104$397
23 years$2,831$2,210$1,707$1,306$991$336
24 years$2,685$2,071$1,579$1,191$891$285
25 years$2,550$1,944$1,462$1,088$802$242
26 years$2,426$1,827$1,356$995$722$205
27 years$2,311$1,719$1,259$911$651$174
28 years$2,204$1,620$1,171$834$588$148
29 years$2,105$1,528$1,090$765$531$126
30 years$2,013$1,443$1,015$702$479$107
31 years$1,927$1,364$946$645$433$91
32 years$1,847$1,291$883$593$392$77
33 years$1,771$1,223$824$545$355$66
34 years$1,700$1,159$770$501$321$56
35 years$1,634$1,099$720$462$291$48
36 years$1,571$1,043$674$425$264$40
37 years$1,511$991$630$392$239$34
38 years$1,455$942$590$361$217$29
39 years$1,402$895$553$333$196$25
40 years$1,352$852$518$307$178$21
41 years$1,304$811$486$283$162$18
42 years$1,259$772$456$261$147$15
43 years$1,216$736$428$241$133$13
44 years$1,175$701$402$223$121$11
45 years$1,136$669$377$206$110$9
46 years$1,099$638$354$190$100$8
47 years$1,063$609$333$176$90$7
48 years$1,029$581$313$162$82$6
49 years$997$555$294$150$75$5
50 years$966$530$276$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $989,000, adding $4,799 every year, while hoping to spend $21,991 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: 52/39/9 Blend
58$989,000$989,000$989,000$989,000
59$1,094,828$1,042,411$1,027,082$1,149,003
60$1,183,102$1,070,091$1,038,091$1,214,067
61$1,279,644$1,098,390$1,048,731$1,282,011
62$1,385,272$1,127,316$1,058,968$1,355,383
63$1,500,890$1,156,874$1,068,764$1,434,700
64$1,627,492$1,187,073$1,078,079$1,520,530
65$1,766,173$1,217,916$1,086,871$1,613,498
66$1,918,139$1,249,410$1,095,098$1,714,295
67$2,084,717$1,281,560$1,102,712$1,823,679
68$2,267,371$1,314,369$1,109,666$1,942,485
69$2,467,711$1,347,841$1,115,908$2,071,633
70$2,687,511$1,381,979$1,121,384$2,212,137
71$2,928,726$1,416,785$1,126,039$2,365,110
72$3,193,508$1,452,259$1,129,814$2,531,783
73$3,484,229$1,488,403$1,132,645$2,713,508
74$3,803,499$1,525,214$1,134,468$2,911,775
75$4,154,198$1,562,691$1,135,215$3,128,227
76$4,539,495$1,600,831$1,134,813$3,364,671
77$4,962,881$1,639,630$1,133,186$3,623,101
78$5,428,203$1,679,080$1,130,257$3,905,710
79$5,939,701$1,719,176$1,125,941$4,214,918
80$6,502,042$1,759,908$1,120,152$4,553,387
81$7,120,372$1,801,265$1,112,799$4,924,054
82$7,800,358$1,843,235$1,103,786$5,330,151
83$8,548,244$1,885,803$1,093,012$5,775,242
84$9,370,911$1,928,953$1,080,374$6,263,254
85$10,275,938$1,972,665$1,065,761$6,798,511
86$11,271,677$2,016,920$1,049,057$7,385,781
87$12,367,331$2,061,692$1,030,144$8,030,316
88$13,573,039$2,106,955$1,008,893$8,737,904
89$14,899,973$2,152,679$985,175$9,514,922
90$16,360,442$2,198,832$958,850$10,368,399
91$17,968,010$2,245,378$929,775$11,306,078
92$19,737,622$2,292,277$897,798$12,336,494
93$21,685,747$2,339,486$862,761$13,469,051
94$23,830,529$2,386,956$824,499$14,714,113
95$26,191,963$2,434,637$782,840$16,083,100
96$28,792,081$2,482,473$737,603$17,588,598
97$31,655,160$2,530,401$688,600$19,244,476
98$34,807,951$2,578,355$635,633$21,066,018
99$38,279,932$2,626,264$578,496$23,070,067
100$42,103,584$2,674,050$516,975$25,275,186