Can I retire at age 59 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$81,918$81,189$80,477$79,782$79,103$76,418
2 years$40,554$39,798$39,066$38,357$37,668$34,990
3 years$26,767$26,009$25,279$24,576$23,898$21,311
4 years$19,875$19,119$18,396$17,705$17,044$14,568
5 years$15,741$14,990$14,276$13,599$12,957$10,598
6 years$12,986$12,240$11,537$10,876$10,252$8,012
7 years$11,019$10,279$9,588$8,941$8,338$6,217
8 years$9,544$8,811$8,131$7,501$6,917$4,913
9 years$8,398$7,672$7,003$6,389$5,825$3,936
10 years$7,481$6,762$6,106$5,507$4,963$3,186
11 years$6,732$6,020$5,375$4,793$4,269$2,599
12 years$6,108$5,403$4,770$4,204$3,699$2,134
13 years$5,580$4,883$4,262$3,712$3,226$1,761
14 years$5,128$4,439$3,829$3,295$2,828$1,459
15 years$4,737$4,055$3,458$2,938$2,490$1,212
16 years$4,395$3,720$3,135$2,631$2,200$1,010
17 years$4,093$3,426$2,852$2,364$1,951$844
18 years$3,826$3,166$2,604$2,130$1,735$706
19 years$3,587$2,934$2,384$1,925$1,546$592
20 years$3,371$2,726$2,188$1,743$1,381$497
21 years$3,177$2,540$2,012$1,582$1,236$417
22 years$3,001$2,371$1,855$1,439$1,108$351
23 years$2,840$2,217$1,712$1,310$994$295
24 years$2,693$2,077$1,584$1,195$894$248
25 years$2,558$1,950$1,467$1,091$804$209
26 years$2,433$1,832$1,360$998$725$176
27 years$2,318$1,724$1,263$913$653$149
28 years$2,211$1,625$1,174$837$589$125
29 years$2,112$1,533$1,093$767$532$106
30 years$2,019$1,448$1,018$704$481$89
31 years$1,933$1,368$949$647$435$75
32 years$1,852$1,295$885$594$393$63
33 years$1,777$1,226$827$547$356$54
34 years$1,705$1,162$772$503$322$45
35 years$1,639$1,102$722$463$292$38
36 years$1,576$1,046$676$426$264$32
37 years$1,516$994$632$393$240$27
38 years$1,460$944$592$362$217$23
39 years$1,407$898$555$334$197$19
40 years$1,356$854$520$308$179$16
41 years$1,308$813$488$284$162$14
42 years$1,263$775$457$262$147$12
43 years$1,220$738$429$242$134$10
44 years$1,179$703$403$224$121$8
45 years$1,139$671$378$206$110$7
46 years$1,102$640$355$191$100$6
47 years$1,066$611$334$176$91$5
48 years$1,032$583$314$163$82$4
49 years$1,000$557$295$150$75$4
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $992,000, adding $6,382 every year, while hoping to spend $48,920 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: 58/30/12 Blend
58$992,000$992,000$992,000$992,000
59$1,099,767$1,047,191$1,031,815$1,159,931
60$1,159,893$1,046,453$1,014,330$1,200,527
61$1,224,512$1,044,039$994,620$1,238,752
62$1,294,031$1,039,816$972,559$1,279,252
63$1,368,896$1,033,641$948,014$1,322,252
64$1,449,598$1,025,364$920,847$1,368,000
65$1,536,676$1,014,825$890,914$1,416,772
66$1,630,720$1,001,856$858,063$1,468,875
67$1,732,383$986,275$822,137$1,524,649
68$1,842,378$967,895$782,971$1,584,470
69$1,961,491$946,512$740,391$1,648,756
70$2,090,586$921,914$694,217$1,717,970
71$2,230,613$893,875$644,261$1,792,624
72$2,382,617$862,156$590,324$1,873,287
73$2,547,746$826,504$532,203$1,960,589
74$2,727,264$786,652$469,680$2,055,225
75$2,922,563$742,315$402,532$2,157,969
76$3,135,171$693,195$330,523$2,269,674
77$3,366,772$638,975$253,409$2,391,287
78$3,619,218$579,320$170,934$2,523,855
79$3,894,549$513,877$82,830$2,668,537
80$4,195,007$442,272$0$2,826,615
81$4,523,064$364,109$0$3,000,940
82$4,881,437$278,972$0$3,203,061
83$5,273,121$186,419$0$3,424,133
84$5,701,411$85,985$0$3,666,118
85$6,169,935$0$0$3,931,179
86$6,682,688$0$0$4,229,240
87$7,244,070$0$0$4,586,728
88$7,858,924$0$0$4,978,351
89$8,532,587$0$0$5,407,520
90$9,270,933$0$0$5,877,986
91$10,080,432$0$0$6,393,886
92$10,968,213$0$0$6,959,772
93$11,942,123$0$0$7,580,661
94$13,010,810$0$0$8,262,077
95$14,183,797$0$0$9,010,104
96$15,471,573$0$0$9,831,448
97$16,885,695$0$0$10,733,491
98$18,438,893$0$0$11,724,369
99$20,145,188$0$0$12,813,042
100$22,020,030$0$0$14,009,383