Can I retire at age 59 with 995,000?

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 $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%13.8%
1 years$82,166$81,434$80,720$80,023$79,343$78,093
2 years$40,676$39,919$39,185$38,473$37,782$36,526
3 years$26,848$26,087$25,355$24,650$23,971$22,747
4 years$19,935$19,177$18,452$17,759$17,096$15,915
5 years$15,789$15,035$14,319$13,640$12,996$11,861
6 years$13,025$12,277$11,572$10,908$10,283$9,195
7 years$11,052$10,310$9,617$8,968$8,363$7,323
8 years$9,573$8,838$8,156$7,523$6,938$5,945
9 years$8,423$7,695$7,024$6,408$5,843$4,896
10 years$7,504$6,783$6,124$5,524$4,978$4,078
11 years$6,752$6,038$5,392$4,808$4,282$3,426
12 years$6,126$5,420$4,785$4,217$3,710$2,899
13 years$5,597$4,898$4,275$3,723$3,235$2,467
14 years$5,144$4,452$3,841$3,305$2,836$2,109
15 years$4,751$4,067$3,468$2,947$2,497$1,810
16 years$4,408$3,731$3,144$2,639$2,207$1,559
17 years$4,106$3,436$2,861$2,371$1,957$1,346
18 years$3,837$3,175$2,612$2,137$1,740$1,166
19 years$3,597$2,943$2,391$1,931$1,551$1,011
20 years$3,382$2,735$2,194$1,749$1,385$878
21 years$3,187$2,547$2,018$1,587$1,240$764
22 years$3,010$2,378$1,860$1,443$1,111$666
23 years$2,849$2,224$1,718$1,314$997$581
24 years$2,701$2,084$1,588$1,199$897$507
25 years$2,565$1,955$1,471$1,095$807$443
26 years$2,440$1,838$1,365$1,001$727$387
27 years$2,325$1,730$1,267$916$655$339
28 years$2,218$1,630$1,178$839$591$297
29 years$2,118$1,537$1,096$770$534$260
30 years$2,025$1,452$1,021$706$482$228
31 years$1,939$1,373$952$649$436$200
32 years$1,858$1,299$888$596$394$175
33 years$1,782$1,230$829$548$357$153
34 years$1,711$1,166$775$504$323$135
35 years$1,644$1,106$724$464$293$118
36 years$1,580$1,049$678$428$265$104
37 years$1,521$997$634$394$240$91
38 years$1,464$947$594$363$218$80
39 years$1,411$901$556$335$198$70
40 years$1,360$857$522$309$179$62
41 years$1,312$816$489$285$163$54
42 years$1,267$777$459$263$148$47
43 years$1,223$740$430$243$134$42
44 years$1,182$706$404$224$122$37
45 years$1,143$673$379$207$110$32
46 years$1,105$642$356$191$100$28
47 years$1,070$613$335$177$91$25
48 years$1,035$585$315$163$83$22
49 years$1,003$558$296$151$75$19
50 years$971$533$278$139$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $995,000, adding $6,887 every year, while hoping to spend $24,284 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: 67/15/18 Blend
58$995,000$995,000$995,000$995,000
59$1,103,594$1,050,859$1,035,436$1,172,222
60$1,190,323$1,076,513$1,044,286$1,244,632
61$1,285,084$1,102,610$1,052,617$1,320,321
62$1,388,671$1,129,147$1,060,389$1,402,493
63$1,501,958$1,156,118$1,067,554$1,491,785
64$1,625,907$1,183,517$1,074,067$1,588,897
65$1,761,577$1,211,337$1,079,876$1,694,602
66$1,910,136$1,239,570$1,084,929$1,809,748
67$2,072,867$1,268,206$1,089,171$1,935,274
68$2,251,185$1,297,234$1,092,545$2,072,212
69$2,446,649$1,326,641$1,094,988$2,221,697
70$2,660,974$1,356,414$1,096,437$2,384,984
71$2,896,050$1,386,535$1,096,824$2,563,453
72$3,153,959$1,416,988$1,096,080$2,758,625
73$3,436,994$1,447,751$1,094,130$2,972,175
74$3,747,681$1,478,804$1,090,897$3,205,952
75$4,088,802$1,510,123$1,086,299$3,461,990
76$4,463,420$1,541,680$1,080,251$3,742,532
77$4,874,913$1,573,446$1,072,663$4,050,050
78$5,326,999$1,605,390$1,063,442$4,387,267
79$5,823,776$1,637,477$1,052,490$4,757,185
80$6,369,757$1,669,669$1,039,704$5,163,111
81$6,969,914$1,701,925$1,024,977$5,608,690
82$7,629,726$1,734,200$1,008,194$6,097,940
83$8,355,229$1,766,446$989,240$6,635,288
84$9,153,072$1,798,612$967,989$7,225,611
85$10,030,582$1,830,641$944,313$7,874,287
86$10,995,831$1,862,471$918,077$8,587,241
87$12,057,712$1,894,039$889,139$9,371,003
88$13,226,025$1,925,273$857,351$10,232,770
89$14,511,566$1,956,098$822,559$11,180,472
90$15,926,231$1,986,432$784,601$12,222,852
91$17,483,129$2,016,190$743,307$13,369,541
92$19,196,701$2,045,276$698,501$14,631,155
93$21,082,863$2,073,592$649,998$16,019,396
94$23,159,147$2,101,031$597,606$17,547,156
95$25,444,877$2,127,478$541,122$19,228,646
96$27,961,341$2,152,811$480,336$21,079,527
97$30,731,998$2,176,899$415,028$23,117,058
98$33,782,699$2,199,604$344,968$25,360,261
99$37,141,926$2,220,777$269,917$27,830,099
100$40,841,066$2,240,258$189,623$30,549,673