Can I retire at age 59 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$82,166$81,434$80,720$80,023$79,343$78,876
2 years$40,676$39,919$39,185$38,473$37,782$37,311
3 years$26,848$26,087$25,355$24,650$23,971$23,510
4 years$19,935$19,177$18,452$17,759$17,096$16,649
5 years$15,789$15,035$14,319$13,640$12,996$12,565
6 years$13,025$12,277$11,572$10,908$10,283$9,868
7 years$11,052$10,310$9,617$8,968$8,363$7,964
8 years$9,573$8,838$8,156$7,523$6,938$6,555
9 years$8,423$7,695$7,024$6,408$5,843$5,475
10 years$7,504$6,783$6,124$5,524$4,978$4,627
11 years$6,752$6,038$5,392$4,808$4,282$3,946
12 years$6,126$5,420$4,785$4,217$3,710$3,390
13 years$5,597$4,898$4,275$3,723$3,235$2,930
14 years$5,144$4,452$3,841$3,305$2,836$2,545
15 years$4,751$4,067$3,468$2,947$2,497$2,220
16 years$4,408$3,731$3,144$2,639$2,207$1,944
17 years$4,106$3,436$2,861$2,371$1,957$1,707
18 years$3,837$3,175$2,612$2,137$1,740$1,503
19 years$3,597$2,943$2,391$1,931$1,551$1,327
20 years$3,382$2,735$2,194$1,749$1,385$1,173
21 years$3,187$2,547$2,018$1,587$1,240$1,039
22 years$3,010$2,378$1,860$1,443$1,111$922
23 years$2,849$2,224$1,718$1,314$997$819
24 years$2,701$2,084$1,588$1,199$897$729
25 years$2,565$1,955$1,471$1,095$807$649
26 years$2,440$1,838$1,365$1,001$727$578
27 years$2,325$1,730$1,267$916$655$515
28 years$2,218$1,630$1,178$839$591$460
29 years$2,118$1,537$1,096$770$534$411
30 years$2,025$1,452$1,021$706$482$367
31 years$1,939$1,373$952$649$436$328
32 years$1,858$1,299$888$596$394$293
33 years$1,782$1,230$829$548$357$263
34 years$1,711$1,166$775$504$323$235
35 years$1,644$1,106$724$464$293$210
36 years$1,580$1,049$678$428$265$188
37 years$1,521$997$634$394$240$169
38 years$1,464$947$594$363$218$151
39 years$1,411$901$556$335$198$135
40 years$1,360$857$522$309$179$121
41 years$1,312$816$489$285$163$109
42 years$1,267$777$459$263$148$98
43 years$1,223$740$430$243$134$87
44 years$1,182$706$404$224$122$78
45 years$1,143$673$379$207$110$70
46 years$1,105$642$356$191$100$63
47 years$1,070$613$335$177$91$57
48 years$1,035$585$315$163$83$51
49 years$1,003$558$296$151$75$46
50 years$971$533$278$139$68$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $995,000, adding $3,119 every year, while hoping to spend $56,654 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: 54/36/10 Blend
58$995,000$995,000$995,000$995,000
59$1,099,707$1,046,972$1,031,550$1,156,158
60$1,151,598$1,037,994$1,005,827$1,185,819
61$1,206,883$1,026,678$977,344$1,211,645
62$1,265,848$1,012,848$945,948$1,238,416
63$1,328,807$996,321$911,481$1,266,231
64$1,396,105$976,899$873,774$1,295,206
65$1,468,117$954,377$832,655$1,325,467
66$1,545,256$928,533$787,941$1,357,159
67$1,627,977$899,136$739,442$1,390,445
68$1,716,777$865,940$686,959$1,425,507
69$1,812,200$828,683$630,284$1,462,550
70$1,914,847$787,090$569,200$1,501,803
71$2,025,374$740,870$503,481$1,543,526
72$2,144,504$689,715$432,890$1,588,007
73$2,273,030$633,298$357,179$1,635,570
74$2,411,824$571,275$276,089$1,686,577
75$2,561,845$503,281$189,353$1,741,433
76$2,724,143$428,933$96,686$1,800,590
77$2,899,878$347,822$0$1,864,552
78$3,090,320$259,520$0$1,934,119
79$3,296,869$163,573$0$2,020,708
80$3,521,063$59,501$0$2,114,726
81$3,764,594$0$0$2,216,990
82$4,029,323$0$0$2,349,479
83$4,317,298$0$0$2,519,326
84$4,630,772$0$0$2,704,299
85$4,972,222$0$0$2,905,871
86$5,344,378$0$0$3,125,664
87$5,750,241$0$0$3,365,463
88$6,193,115$0$0$3,627,232
89$6,676,637$0$0$3,913,134
90$7,204,811$0$0$4,225,550
91$7,782,044$0$0$4,567,100
92$8,413,188$0$0$4,940,670
93$9,103,587$0$0$5,349,439
94$9,859,122$0$0$5,796,903
95$10,686,271$0$0$6,286,916
96$11,592,168$0$0$6,823,720
97$12,584,667$0$0$7,411,988
98$13,672,418$0$0$8,056,865
99$14,864,950$0$0$8,764,018
100$16,172,755$0$0$9,539,690