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%14.6%
1 years$81,918$81,189$80,477$79,782$79,103$77,602
2 years$40,554$39,798$39,066$38,357$37,668$36,161
3 years$26,767$26,009$25,279$24,576$23,898$22,433
4 years$19,875$19,119$18,396$17,705$17,044$15,632
5 years$15,741$14,990$14,276$13,599$12,957$11,601
6 years$12,986$12,240$11,537$10,876$10,252$8,955
7 years$11,019$10,279$9,588$8,941$8,338$7,099
8 years$9,544$8,811$8,131$7,501$6,917$5,737
9 years$8,398$7,672$7,003$6,389$5,825$4,703
10 years$7,481$6,762$6,106$5,507$4,963$3,897
11 years$6,732$6,020$5,375$4,793$4,269$3,258
12 years$6,108$5,403$4,770$4,204$3,699$2,743
13 years$5,580$4,883$4,262$3,712$3,226$2,322
14 years$5,128$4,439$3,829$3,295$2,828$1,974
15 years$4,737$4,055$3,458$2,938$2,490$1,685
16 years$4,395$3,720$3,135$2,631$2,200$1,443
17 years$4,093$3,426$2,852$2,364$1,951$1,239
18 years$3,826$3,166$2,604$2,130$1,735$1,067
19 years$3,587$2,934$2,384$1,925$1,546$920
20 years$3,371$2,726$2,188$1,743$1,381$794
21 years$3,177$2,540$2,012$1,582$1,236$687
22 years$3,001$2,371$1,855$1,439$1,108$595
23 years$2,840$2,217$1,712$1,310$994$516
24 years$2,693$2,077$1,584$1,195$894$447
25 years$2,558$1,950$1,467$1,091$804$388
26 years$2,433$1,832$1,360$998$725$337
27 years$2,318$1,724$1,263$913$653$293
28 years$2,211$1,625$1,174$837$589$255
29 years$2,112$1,533$1,093$767$532$222
30 years$2,019$1,448$1,018$704$481$193
31 years$1,933$1,368$949$647$435$168
32 years$1,852$1,295$885$594$393$147
33 years$1,777$1,226$827$547$356$128
34 years$1,705$1,162$772$503$322$111
35 years$1,639$1,102$722$463$292$97
36 years$1,576$1,046$676$426$264$84
37 years$1,516$994$632$393$240$74
38 years$1,460$944$592$362$217$64
39 years$1,407$898$555$334$197$56
40 years$1,356$854$520$308$179$49
41 years$1,308$813$488$284$162$43
42 years$1,263$775$457$262$147$37
43 years$1,220$738$429$242$134$32
44 years$1,179$703$403$224$121$28
45 years$1,139$671$378$206$110$25
46 years$1,102$640$355$191$100$22
47 years$1,066$611$334$176$91$19
48 years$1,032$583$314$163$82$16
49 years$1,000$557$295$150$75$14
50 years$969$532$277$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $992,000, adding $2,377 every year, while hoping to spend $57,957 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: 78/6/16 Blend
58$992,000$992,000$992,000$992,000
59$1,095,636$1,043,060$1,027,684$1,177,137
60$1,145,725$1,032,504$1,000,445$1,220,657
61$1,198,981$1,019,488$970,352$1,260,808
62$1,255,665$1,003,831$937,247$1,303,248
63$1,316,064$985,340$900,966$1,348,183
64$1,380,492$963,812$861,338$1,395,842
65$1,449,292$939,029$818,183$1,446,478
66$1,522,842$910,763$771,314$1,500,368
67$1,601,554$878,773$720,536$1,557,821
68$1,685,882$842,802$665,642$1,619,177
69$1,776,321$802,578$606,421$1,684,809
70$1,873,417$757,816$542,647$1,755,132
71$1,977,769$708,212$474,089$1,830,602
72$2,090,031$653,445$400,501$1,911,723
73$2,210,927$593,176$321,630$1,999,052
74$2,341,246$527,046$237,210$2,093,203
75$2,481,860$454,678$146,963$2,194,854
76$2,633,723$375,671$50,600$2,304,754
77$2,797,886$289,601$0$2,423,729
78$2,975,502$196,024$0$2,561,608
79$3,167,840$94,466$0$2,720,279
80$3,376,296$0$0$2,892,262
81$3,602,401$0$0$3,079,869
82$3,847,844$0$0$3,290,319
83$4,114,479$0$0$3,518,968
84$4,404,346$0$0$3,767,570
85$4,719,691$0$0$4,038,053
86$5,062,984$0$0$4,332,541
87$5,436,941$0$0$4,653,369
88$5,844,555$0$0$5,003,107
89$6,289,116$0$0$5,384,584
90$6,774,247$0$0$5,800,913
91$7,303,937$0$0$6,255,521
92$7,882,574$0$0$6,752,181
93$8,514,992$0$0$7,295,046
94$9,206,511$0$0$7,888,689
95$9,962,989$0$0$8,538,145
96$10,790,877$0$0$9,248,956
97$11,697,276$0$0$10,027,227
98$12,690,009$0$0$10,879,681
99$13,777,688$0$0$11,813,720
100$14,969,799$0$0$12,837,497