Can I retire at age 59 with 998,000?

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 $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%15.1%
1 years$82,414$81,680$80,964$80,265$79,582$77,911
2 years$40,799$40,039$39,303$38,589$37,896$36,221
3 years$26,929$26,166$25,431$24,724$24,043$22,415
4 years$19,996$19,235$18,508$17,812$17,148$15,580
5 years$15,837$15,080$14,363$13,682$13,035$11,533
6 years$13,065$12,314$11,607$10,941$10,314$8,878
7 years$11,086$10,341$9,646$8,995$8,388$7,018
8 years$9,602$8,865$8,180$7,546$6,959$5,655
9 years$8,449$7,718$7,046$6,428$5,860$4,622
10 years$7,527$6,803$6,143$5,541$4,993$3,819
11 years$6,773$6,056$5,408$4,822$4,294$3,182
12 years$6,145$5,436$4,799$4,230$3,722$2,670
13 years$5,614$4,913$4,288$3,734$3,245$2,253
14 years$5,159$4,465$3,853$3,315$2,845$1,909
15 years$4,766$4,079$3,478$2,956$2,505$1,624
16 years$4,422$3,743$3,154$2,647$2,214$1,386
17 years$4,118$3,447$2,870$2,378$1,963$1,186
18 years$3,849$3,185$2,620$2,143$1,745$1,017
19 years$3,608$2,952$2,398$1,937$1,556$873
20 years$3,392$2,743$2,201$1,754$1,389$752
21 years$3,196$2,555$2,024$1,592$1,243$648
22 years$3,019$2,385$1,866$1,447$1,115$559
23 years$2,857$2,231$1,723$1,318$1,000$482
24 years$2,709$2,090$1,593$1,202$899$417
25 years$2,573$1,961$1,476$1,098$809$360
26 years$2,448$1,843$1,369$1,004$729$312
27 years$2,332$1,735$1,271$919$657$270
28 years$2,224$1,635$1,181$842$593$234
29 years$2,124$1,542$1,099$772$535$203
30 years$2,031$1,456$1,024$709$484$176
31 years$1,945$1,377$955$651$437$152
32 years$1,863$1,303$891$598$396$132
33 years$1,787$1,234$832$550$358$115
34 years$1,716$1,169$777$506$324$99
35 years$1,648$1,109$727$466$294$86
36 years$1,585$1,053$680$429$266$75
37 years$1,525$1,000$636$395$241$65
38 years$1,469$950$596$364$219$56
39 years$1,415$903$558$336$198$49
40 years$1,364$860$523$310$180$43
41 years$1,316$818$491$286$163$37
42 years$1,271$779$460$264$148$32
43 years$1,227$742$432$244$134$28
44 years$1,186$708$405$225$122$24
45 years$1,146$675$381$208$111$21
46 years$1,109$644$357$192$101$18
47 years$1,073$614$336$177$91$16
48 years$1,039$587$316$164$83$14
49 years$1,006$560$297$151$75$12
50 years$974$535$279$140$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $998,000, adding $3,128 every year, while hoping to spend $50,981 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: 62/30/8 Blend
58$998,000$998,000$998,000$998,000
59$1,103,023$1,050,129$1,034,660$1,169,390
60$1,161,287$1,047,341$1,015,077$1,211,336
61$1,223,787$1,042,709$993,130$1,250,903
62$1,290,898$1,036,087$968,686$1,292,794
63$1,363,037$1,027,323$941,604$1,337,232
64$1,440,659$1,016,254$911,740$1,384,465
65$1,524,265$1,002,708$878,941$1,434,768
66$1,614,402$986,504$843,048$1,488,447
67$1,711,676$967,447$803,895$1,545,840
68$1,816,748$945,333$761,307$1,607,321
69$1,930,348$919,946$715,102$1,673,304
70$2,053,276$891,056$665,091$1,744,249
71$2,186,413$858,421$611,074$1,820,665
72$2,330,727$821,783$552,844$1,903,115
73$2,487,281$780,871$490,185$1,992,223
74$2,657,247$735,396$422,870$2,088,681
75$2,841,912$685,056$350,661$2,193,251
76$3,042,692$629,529$273,313$2,306,782
77$3,261,145$568,474$190,567$2,430,208
78$3,498,985$501,533$102,155$2,564,567
79$3,758,098$428,325$7,794$2,711,005
80$4,040,561$348,450$0$2,870,789
81$4,348,659$261,484$0$3,053,252
82$4,684,904$166,979$0$3,253,241
83$5,052,067$64,464$0$3,471,833
84$5,453,193$0$0$3,710,951
85$5,891,637$0$0$3,988,093
86$6,371,092$0$0$4,314,501
87$6,895,625$0$0$4,671,671
88$7,469,712$0$0$5,062,660
89$8,098,285$0$0$5,490,836
90$8,786,771$0$0$5,959,907
91$9,541,151$0$0$6,473,957
92$10,368,009$0$0$7,037,484
93$11,274,596$0$0$7,655,440
94$12,268,901$0$0$8,333,283
95$13,359,720$0$0$9,077,020
96$14,556,743$0$0$9,893,272
97$15,870,644$0$0$10,789,329
98$17,313,180$0$0$11,773,222
99$18,897,302$0$0$12,853,799
100$20,637,277$0$0$14,040,805