Can I retire at age 59 with 992,000?

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 $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%13.5%
1 years$81,918$81,189$80,477$79,782$79,103$77,954
2 years$40,554$39,798$39,066$38,357$37,668$36,512
3 years$26,767$26,009$25,279$24,576$23,898$22,772
4 years$19,875$19,119$18,396$17,705$17,044$15,957
5 years$15,741$14,990$14,276$13,599$12,957$11,911
6 years$12,986$12,240$11,537$10,876$10,252$9,249
7 years$11,019$10,279$9,588$8,941$8,338$7,378
8 years$9,544$8,811$8,131$7,501$6,917$6,000
9 years$8,398$7,672$7,003$6,389$5,825$4,950
10 years$7,481$6,762$6,106$5,507$4,963$4,131
11 years$6,732$6,020$5,375$4,793$4,269$3,477
12 years$6,108$5,403$4,770$4,204$3,699$2,948
13 years$5,580$4,883$4,262$3,712$3,226$2,513
14 years$5,128$4,439$3,829$3,295$2,828$2,153
15 years$4,737$4,055$3,458$2,938$2,490$1,852
16 years$4,395$3,720$3,135$2,631$2,200$1,598
17 years$4,093$3,426$2,852$2,364$1,951$1,383
18 years$3,826$3,166$2,604$2,130$1,735$1,200
19 years$3,587$2,934$2,384$1,925$1,546$1,043
20 years$3,371$2,726$2,188$1,743$1,381$908
21 years$3,177$2,540$2,012$1,582$1,236$792
22 years$3,001$2,371$1,855$1,439$1,108$692
23 years$2,840$2,217$1,712$1,310$994$605
24 years$2,693$2,077$1,584$1,195$894$529
25 years$2,558$1,950$1,467$1,091$804$463
26 years$2,433$1,832$1,360$998$725$406
27 years$2,318$1,724$1,263$913$653$356
28 years$2,211$1,625$1,174$837$589$313
29 years$2,112$1,533$1,093$767$532$274
30 years$2,019$1,448$1,018$704$481$241
31 years$1,933$1,368$949$647$435$212
32 years$1,852$1,295$885$594$393$186
33 years$1,777$1,226$827$547$356$164
34 years$1,705$1,162$772$503$322$144
35 years$1,639$1,102$722$463$292$127
36 years$1,576$1,046$676$426$264$111
37 years$1,516$994$632$393$240$98
38 years$1,460$944$592$362$217$86
39 years$1,407$898$555$334$197$76
40 years$1,356$854$520$308$179$67
41 years$1,308$813$488$284$162$59
42 years$1,263$775$457$262$147$52
43 years$1,220$738$429$242$134$46
44 years$1,179$703$403$224$121$40
45 years$1,139$671$378$206$110$35
46 years$1,102$640$355$191$100$31
47 years$1,066$611$334$176$91$27
48 years$1,032$583$314$163$82$24
49 years$1,000$557$295$150$75$21
50 years$969$532$277$139$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $992,000, adding $3,863 every year, while hoping to spend $33,521 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: 79/15/6 Blend
58$992,000$992,000$992,000$992,000
59$1,097,169$1,044,593$1,029,217$1,183,003
60$1,173,414$1,060,112$1,028,029$1,255,315
61$1,256,312$1,075,268$1,025,679$1,329,825
62$1,346,508$1,090,007$1,022,091$1,410,548
63$1,444,708$1,104,274$1,017,187$1,498,088
64$1,551,691$1,118,006$1,010,886$1,593,106
65$1,668,315$1,131,140$1,003,102$1,696,335
66$1,795,523$1,143,605$993,745$1,808,578
67$1,934,352$1,155,328$982,721$1,930,723
68$2,085,946$1,166,229$969,933$2,063,746
69$2,251,563$1,176,225$955,276$2,208,722
70$2,432,587$1,185,225$938,643$2,366,837
71$2,630,544$1,193,134$919,920$2,539,395
72$2,847,113$1,199,850$898,991$2,727,836
73$3,084,141$1,205,266$875,730$2,933,745
74$3,343,665$1,209,265$850,008$3,158,867
75$3,627,926$1,211,727$821,691$3,405,126
76$3,939,393$1,212,519$790,635$3,674,642
77$4,280,783$1,211,506$756,694$3,969,752
78$4,655,093$1,208,539$719,713$4,293,030
79$5,065,618$1,203,463$679,529$4,647,311
80$5,515,992$1,196,113$635,974$5,035,722
81$6,010,215$1,186,315$588,871$5,461,708
82$6,552,693$1,173,881$538,035$5,929,064
83$7,148,282$1,158,615$483,273$6,441,974
84$7,802,328$1,140,308$424,384$7,005,047
85$8,520,722$1,118,740$361,157$7,623,364
86$9,309,952$1,093,675$293,373$8,302,525
87$10,177,168$1,064,865$220,801$9,048,698
88$11,130,244$1,032,049$143,203$9,868,685
89$12,177,856$994,947$60,328$10,769,979
90$13,329,563$953,265$0$11,760,839
91$14,595,896$906,692$0$12,852,168
92$15,988,456$854,899$0$14,056,436
93$17,520,026$797,536$0$15,380,849
94$19,204,690$734,237$0$16,837,611
95$21,057,965$664,611$0$18,440,170
96$23,096,948$588,247$0$20,203,344
97$25,340,475$504,710$0$22,143,465
98$27,809,303$413,540$0$24,278,530
99$30,526,300$314,252$0$26,628,373
100$33,516,665$206,332$0$29,214,849