Can I retire at age 59 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$82,414$81,680$80,964$80,265$79,582$79,014
2 years$40,799$40,039$39,303$38,589$37,896$37,324
3 years$26,929$26,166$25,431$24,724$24,043$23,483
4 years$19,996$19,235$18,508$17,812$17,148$16,605
5 years$15,837$15,080$14,363$13,682$13,035$12,512
6 years$13,065$12,314$11,607$10,941$10,314$9,811
7 years$11,086$10,341$9,646$8,995$8,388$7,904
8 years$9,602$8,865$8,180$7,546$6,959$6,495
9 years$8,449$7,718$7,046$6,428$5,860$5,416
10 years$7,527$6,803$6,143$5,541$4,993$4,568
11 years$6,773$6,056$5,408$4,822$4,294$3,889
12 years$6,145$5,436$4,799$4,230$3,722$3,334
13 years$5,614$4,913$4,288$3,734$3,245$2,876
14 years$5,159$4,465$3,853$3,315$2,845$2,494
15 years$4,766$4,079$3,478$2,956$2,505$2,171
16 years$4,422$3,743$3,154$2,647$2,214$1,897
17 years$4,118$3,447$2,870$2,378$1,963$1,663
18 years$3,849$3,185$2,620$2,143$1,745$1,461
19 years$3,608$2,952$2,398$1,937$1,556$1,287
20 years$3,392$2,743$2,201$1,754$1,389$1,135
21 years$3,196$2,555$2,024$1,592$1,243$1,004
22 years$3,019$2,385$1,866$1,447$1,115$888
23 years$2,857$2,231$1,723$1,318$1,000$787
24 years$2,709$2,090$1,593$1,202$899$699
25 years$2,573$1,961$1,476$1,098$809$621
26 years$2,448$1,843$1,369$1,004$729$552
27 years$2,332$1,735$1,271$919$657$491
28 years$2,224$1,635$1,181$842$593$437
29 years$2,124$1,542$1,099$772$535$389
30 years$2,031$1,456$1,024$709$484$347
31 years$1,945$1,377$955$651$437$309
32 years$1,863$1,303$891$598$396$276
33 years$1,787$1,234$832$550$358$246
34 years$1,716$1,169$777$506$324$220
35 years$1,648$1,109$727$466$294$196
36 years$1,585$1,053$680$429$266$175
37 years$1,525$1,000$636$395$241$157
38 years$1,469$950$596$364$219$140
39 years$1,415$903$558$336$198$125
40 years$1,364$860$523$310$180$112
41 years$1,316$818$491$286$163$100
42 years$1,271$779$460$264$148$90
43 years$1,227$742$432$244$134$80
44 years$1,186$708$405$225$122$72
45 years$1,146$675$381$208$111$64
46 years$1,109$644$357$192$101$57
47 years$1,073$614$336$177$91$51
48 years$1,039$587$316$164$83$46
49 years$1,006$560$297$151$75$41
50 years$974$535$279$140$68$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $998,000, adding $3,160 every year, while hoping to spend $28,077 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: 54/26/20 Blend
58$998,000$998,000$998,000$998,000
59$1,103,056$1,050,162$1,034,693$1,156,455
60$1,185,693$1,071,746$1,039,481$1,214,977
61$1,275,819$1,093,447$1,043,489$1,275,427
62$1,374,168$1,115,240$1,046,660$1,340,624
63$1,481,546$1,137,100$1,048,937$1,411,030
64$1,598,844$1,158,999$1,050,257$1,487,154
65$1,727,042$1,180,905$1,050,556$1,569,558
66$1,867,217$1,202,786$1,049,766$1,658,859
67$2,020,556$1,224,605$1,047,816$1,755,740
68$2,188,366$1,246,324$1,044,631$1,860,954
69$2,372,087$1,267,902$1,040,134$1,975,328
70$2,573,304$1,289,293$1,034,242$2,099,777
71$2,793,761$1,310,449$1,026,870$2,235,308
72$3,035,382$1,331,318$1,017,927$2,383,034
73$3,300,282$1,351,844$1,007,319$2,544,178
74$3,590,794$1,371,967$994,948$2,720,093
75$3,909,486$1,391,624$980,709$2,912,266
76$4,259,185$1,410,746$964,495$3,122,341
77$4,643,009$1,429,259$946,192$3,352,128
78$5,064,388$1,447,085$925,682$3,603,623
79$5,527,103$1,464,140$902,840$3,879,028
80$6,035,319$1,480,334$877,536$4,180,770
81$6,593,623$1,495,572$849,635$4,511,525
82$7,207,069$1,509,752$818,995$4,874,243
83$7,881,225$1,522,765$785,466$5,272,177
84$8,622,225$1,534,494$748,893$5,708,914
85$9,436,825$1,544,818$709,115$6,188,408
86$10,332,472$1,553,605$665,961$6,715,018
87$11,317,366$1,560,714$619,253$7,293,550
88$12,400,546$1,565,997$568,806$7,929,305
89$13,591,968$1,569,297$514,427$8,628,123
90$14,902,602$1,570,446$455,914$9,396,446
91$16,344,534$1,569,265$393,054$10,241,373
92$17,931,082$1,565,564$325,627$11,170,733
93$19,676,919$1,559,144$253,402$12,193,155
94$21,598,213$1,549,790$176,139$13,318,153
95$23,712,778$1,537,277$93,587$14,556,213
96$26,040,242$1,521,364$5,483$15,918,897
97$28,602,234$1,501,798$0$17,418,949
98$31,422,584$1,478,308$0$19,089,313
99$34,527,552$1,450,609$0$20,929,059
100$37,946,072$1,418,399$0$22,954,150