Can I retire at age 59 with 996,000?

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 $996,000?

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$82,249$81,516$80,801$80,104$79,422$78,171
2 years$40,717$39,959$39,224$38,511$37,820$36,563
3 years$26,875$26,114$25,380$24,675$23,995$22,770
4 years$19,956$19,196$18,470$17,777$17,113$15,931
5 years$15,805$15,050$14,334$13,654$13,009$11,873
6 years$13,039$12,290$11,584$10,919$10,294$9,205
7 years$11,063$10,321$9,626$8,977$8,372$7,330
8 years$9,583$8,847$8,164$7,531$6,945$5,951
9 years$8,432$7,703$7,032$6,415$5,849$4,901
10 years$7,511$6,790$6,130$5,530$4,983$4,082
11 years$6,759$6,044$5,397$4,812$4,286$3,430
12 years$6,132$5,425$4,790$4,221$3,714$2,902
13 years$5,603$4,903$4,279$3,727$3,239$2,469
14 years$5,149$4,456$3,845$3,308$2,839$2,111
15 years$4,756$4,071$3,471$2,950$2,500$1,812
16 years$4,413$3,735$3,147$2,642$2,209$1,561
17 years$4,110$3,440$2,864$2,373$1,959$1,348
18 years$3,841$3,179$2,614$2,139$1,742$1,167
19 years$3,601$2,946$2,393$1,933$1,552$1,012
20 years$3,385$2,737$2,197$1,750$1,387$879
21 years$3,190$2,550$2,020$1,589$1,241$765
22 years$3,013$2,380$1,862$1,444$1,112$667
23 years$2,851$2,226$1,719$1,315$998$581
24 years$2,704$2,086$1,590$1,200$897$508
25 years$2,568$1,957$1,473$1,096$808$443
26 years$2,443$1,840$1,366$1,002$727$388
27 years$2,327$1,731$1,268$917$656$339
28 years$2,220$1,631$1,179$840$592$297
29 years$2,120$1,539$1,097$770$534$260
30 years$2,027$1,453$1,022$707$483$228
31 years$1,941$1,374$953$649$437$200
32 years$1,860$1,300$889$597$395$175
33 years$1,784$1,231$830$549$357$154
34 years$1,712$1,167$776$505$324$135
35 years$1,645$1,107$725$465$293$118
36 years$1,582$1,050$678$428$266$104
37 years$1,522$998$635$394$241$91
38 years$1,466$948$595$364$218$80
39 years$1,412$902$557$335$198$70
40 years$1,362$858$522$309$179$62
41 years$1,314$817$490$285$163$54
42 years$1,268$778$459$263$148$48
43 years$1,225$741$431$243$134$42
44 years$1,183$706$404$224$122$37
45 years$1,144$674$380$207$110$32
46 years$1,107$643$357$191$100$28
47 years$1,071$613$335$177$91$25
48 years$1,036$585$315$163$83$22
49 years$1,004$559$296$151$75$19
50 years$972$534$278$140$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $996,000, adding $4,704 every year, while hoping to spend $56,769 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: 45/48/7 Blend
58$996,000$996,000$996,000$996,000
59$1,102,444$1,049,656$1,034,218$1,149,697
60$1,154,492$1,040,688$1,008,463$1,173,811
61$1,209,945$1,029,377$979,942$1,193,689
62$1,269,093$1,015,549$948,503$1,213,924
63$1,332,249$999,020$913,986$1,234,568
64$1,399,759$979,592$876,225$1,255,682
65$1,472,000$957,059$835,045$1,277,336
66$1,549,389$931,199$790,264$1,299,612
67$1,632,380$901,781$741,690$1,322,605
68$1,721,471$868,557$689,126$1,346,423
69$1,817,212$831,266$632,362$1,371,193
70$1,920,202$789,634$571,181$1,397,058
71$2,031,104$743,366$505,356$1,424,181
72$2,150,641$692,156$434,650$1,452,751
73$2,279,610$635,675$358,815$1,482,979
74$2,418,887$573,580$277,592$1,515,109
75$2,569,432$505,504$190,710$1,549,412
76$2,732,304$431,063$97,889$1,586,200
77$2,908,663$349,850$0$1,625,822
78$3,099,788$261,434$0$1,668,761
79$3,307,082$165,359$0$1,723,181
80$3,532,090$61,148$0$1,782,288
81$3,776,511$0$0$1,846,669
82$4,042,214$0$0$1,944,293
83$4,331,254$0$0$2,085,731
84$4,645,894$0$0$2,239,803
85$4,988,621$0$0$2,407,743
86$5,362,175$0$0$2,590,906
87$5,769,571$0$0$2,790,785
88$6,214,125$0$0$3,009,023
89$6,699,489$0$0$3,247,430
90$7,229,683$0$0$3,507,995
91$7,809,133$0$0$3,792,913
92$8,442,711$0$0$4,104,595
93$9,135,780$0$0$4,445,701
94$9,894,248$0$0$4,819,156
95$10,724,618$0$0$5,228,183
96$11,634,052$0$0$5,676,332
97$12,630,438$0$0$6,167,510
98$13,722,460$0$0$6,706,022
99$14,919,686$0$0$7,296,610
100$16,232,652$0$0$7,944,494