Can I retire at age 59 with 979,000?

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 $979,000?

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$80,845$80,125$79,422$78,736$78,067$77,510
2 years$40,022$39,277$38,554$37,854$37,175$36,613
3 years$26,416$25,668$24,947$24,253$23,585$23,036
4 years$19,615$18,869$18,155$17,473$16,821$16,289
5 years$15,535$14,793$14,089$13,421$12,787$12,274
6 years$12,816$12,080$11,386$10,733$10,118$9,624
7 years$10,875$10,145$9,462$8,824$8,229$7,754
8 years$9,419$8,696$8,024$7,402$6,826$6,371
9 years$8,288$7,571$6,911$6,305$5,749$5,313
10 years$7,383$6,674$6,026$5,435$4,898$4,481
11 years$6,644$5,941$5,305$4,730$4,213$3,814
12 years$6,028$5,332$4,708$4,149$3,651$3,271
13 years$5,507$4,819$4,206$3,663$3,183$2,822
14 years$5,061$4,380$3,779$3,252$2,791$2,446
15 years$4,675$4,002$3,412$2,900$2,457$2,130
16 years$4,337$3,671$3,094$2,596$2,172$1,861
17 years$4,040$3,381$2,815$2,333$1,925$1,631
18 years$3,776$3,124$2,570$2,102$1,712$1,433
19 years$3,540$2,896$2,353$1,900$1,526$1,262
20 years$3,327$2,691$2,159$1,721$1,363$1,114
21 years$3,136$2,506$1,986$1,562$1,220$984
22 years$2,961$2,340$1,830$1,420$1,093$871
23 years$2,803$2,188$1,690$1,293$981$772
24 years$2,657$2,050$1,563$1,179$882$685
25 years$2,524$1,924$1,448$1,077$794$609
26 years$2,401$1,808$1,343$985$715$541
27 years$2,287$1,702$1,247$901$645$481
28 years$2,182$1,604$1,159$826$582$429
29 years$2,084$1,513$1,079$757$525$382
30 years$1,993$1,429$1,005$695$475$340
31 years$1,908$1,351$937$638$429$304
32 years$1,828$1,278$874$587$388$271
33 years$1,753$1,210$816$539$351$242
34 years$1,683$1,147$762$496$318$216
35 years$1,617$1,088$713$457$288$193
36 years$1,555$1,033$667$421$261$172
37 years$1,496$981$624$388$237$154
38 years$1,441$932$584$357$214$137
39 years$1,388$886$548$330$194$123
40 years$1,338$843$513$304$176$110
41 years$1,291$803$481$280$160$98
42 years$1,246$764$451$259$145$88
43 years$1,204$728$424$239$132$79
44 years$1,163$694$398$221$120$70
45 years$1,125$662$373$204$109$63
46 years$1,088$632$351$188$99$56
47 years$1,052$603$329$174$90$50
48 years$1,019$575$310$161$81$45
49 years$987$549$291$148$74$40
50 years$956$525$274$137$67$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $979,000, adding $6,820 every year, while hoping to spend $23,169 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: 23/47/30 Blend
58$979,000$979,000$979,000$979,000
59$1,085,893$1,034,006$1,018,831$1,100,517
60$1,172,002$1,060,020$1,028,311$1,139,899
61$1,266,118$1,086,533$1,037,331$1,179,666
62$1,369,033$1,113,544$1,045,852$1,221,755
63$1,481,619$1,141,053$1,053,833$1,266,375
64$1,604,837$1,169,057$1,061,229$1,313,754
65$1,739,743$1,197,554$1,067,993$1,364,144
66$1,887,504$1,226,540$1,074,077$1,417,824
67$2,049,400$1,256,012$1,079,430$1,475,102
68$2,226,846$1,285,963$1,083,997$1,536,314
69$2,421,395$1,316,386$1,087,723$1,601,836
70$2,634,762$1,347,274$1,090,546$1,672,078
71$2,868,833$1,378,616$1,092,405$1,747,494
72$3,125,688$1,410,402$1,093,234$1,828,587
73$3,407,615$1,442,618$1,092,964$1,915,908
74$3,717,136$1,475,251$1,091,523$2,010,067
75$4,057,030$1,508,284$1,088,835$2,111,737
76$4,430,357$1,541,700$1,084,821$2,221,660
77$4,840,487$1,575,477$1,079,396$2,340,656
78$5,291,135$1,609,594$1,072,474$2,469,626
79$5,786,392$1,644,025$1,063,963$2,609,567
80$6,330,766$1,678,744$1,053,768$2,761,579
81$6,929,222$1,713,720$1,041,787$2,926,875
82$7,587,230$1,748,921$1,027,915$3,106,792
83$8,310,820$1,784,310$1,012,042$3,302,806
84$9,106,630$1,819,848$994,052$3,516,546
85$9,981,979$1,855,493$973,825$3,749,807
86$10,944,928$1,891,199$951,235$4,004,571
87$12,004,357$1,926,914$926,149$4,283,024
88$13,170,055$1,962,586$898,428$4,587,575
89$14,452,803$1,998,156$867,928$4,920,886
90$15,864,483$2,033,559$834,497$5,285,888
91$17,418,185$2,068,729$797,978$5,685,817
92$19,128,334$2,103,590$758,204$6,124,242
93$21,010,823$2,138,065$715,003$6,605,099
94$23,083,165$2,172,069$668,194$7,132,728
95$25,364,657$2,205,509$617,587$7,711,918
96$27,876,562$2,238,289$562,986$8,347,948
97$30,642,310$2,270,303$504,184$9,046,641
98$33,687,717$2,301,440$440,966$9,814,419
99$37,041,233$2,331,579$373,107$10,658,363
100$40,734,204$2,360,592$300,372$11,586,283