Can I retire at age 59 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$81,010$80,288$79,584$78,897$78,226$77,442
2 years$40,104$39,357$38,633$37,931$37,251$36,460
3 years$26,470$25,720$24,998$24,303$23,633$22,862
4 years$19,655$18,907$18,192$17,509$16,855$16,109
5 years$15,567$14,823$14,118$13,449$12,813$12,094
6 years$12,842$12,104$11,409$10,755$10,139$9,447
7 years$10,897$10,165$9,481$8,842$8,245$7,582
8 years$9,438$8,714$8,041$7,418$6,840$6,205
9 years$8,305$7,587$6,926$6,318$5,761$5,153
10 years$7,398$6,687$6,038$5,446$4,908$4,328
11 years$6,657$5,953$5,316$4,740$4,221$3,668
12 years$6,040$5,343$4,718$4,157$3,658$3,132
13 years$5,518$4,829$4,215$3,670$3,190$2,689
14 years$5,071$4,389$3,787$3,258$2,796$2,321
15 years$4,684$4,010$3,419$2,906$2,462$2,011
16 years$4,346$3,679$3,100$2,602$2,176$1,749
17 years$4,048$3,388$2,821$2,338$1,929$1,525
18 years$3,783$3,131$2,575$2,107$1,716$1,334
19 years$3,547$2,902$2,357$1,904$1,529$1,169
20 years$3,334$2,696$2,163$1,724$1,366$1,026
21 years$3,142$2,511$1,990$1,565$1,222$902
22 years$2,968$2,344$1,834$1,423$1,096$794
23 years$2,808$2,193$1,693$1,296$983$700
24 years$2,663$2,054$1,566$1,182$884$618
25 years$2,529$1,928$1,451$1,079$795$546
26 years$2,406$1,812$1,345$987$716$483
27 years$2,292$1,705$1,249$903$646$427
28 years$2,186$1,607$1,161$828$583$378
29 years$2,088$1,516$1,081$759$526$335
30 years$1,997$1,432$1,007$696$476$297
31 years$1,912$1,353$938$640$430$263
32 years$1,832$1,280$876$588$389$234
33 years$1,757$1,213$818$541$352$207
34 years$1,687$1,149$764$497$319$184
35 years$1,620$1,090$714$458$289$163
36 years$1,558$1,035$668$422$262$145
37 years$1,499$983$625$389$237$129
38 years$1,444$934$586$358$215$114
39 years$1,391$888$549$330$195$102
40 years$1,341$845$514$305$177$90
41 years$1,294$804$482$281$160$80
42 years$1,249$766$452$259$146$71
43 years$1,206$730$424$239$132$63
44 years$1,166$696$398$221$120$56
45 years$1,127$663$374$204$109$50
46 years$1,090$633$351$189$99$45
47 years$1,055$604$330$174$90$40
48 years$1,021$577$310$161$81$35
49 years$989$551$292$149$74$31
50 years$958$526$274$138$67$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $981,000, adding $4,766 every year, while hoping to spend $59,848 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: 54/20/26 Blend
58$981,000$981,000$981,000$981,000
59$1,085,978$1,033,985$1,018,780$1,136,568
60$1,133,070$1,020,973$989,231$1,158,970
61$1,182,960$1,005,317$956,687$1,176,776
62$1,235,869$986,824$920,983$1,194,940
63$1,292,040$965,292$881,949$1,213,517
64$1,351,740$940,503$839,406$1,232,573
65$1,415,259$912,228$793,167$1,252,182
66$1,482,914$880,226$743,036$1,272,429
67$1,555,053$844,240$688,811$1,293,415
68$1,632,059$803,998$630,276$1,315,251
69$1,714,349$759,213$567,210$1,338,067
70$1,802,380$709,582$499,379$1,362,009
71$1,896,655$654,785$426,541$1,387,243
72$1,997,725$594,480$348,442$1,413,957
73$2,106,195$528,311$264,815$1,442,365
74$2,222,725$455,897$175,386$1,472,709
75$2,348,046$376,839$79,864$1,505,258
76$2,482,955$290,713$0$1,540,320
77$2,628,331$197,072$0$1,584,362
78$2,785,136$95,444$0$1,655,689
79$2,954,430$0$0$1,732,647
80$3,137,377$0$0$1,819,045
81$3,335,253$0$0$1,935,287
82$3,549,466$0$0$2,061,204
83$3,781,561$0$0$2,197,711
84$4,033,235$0$0$2,345,820
85$4,306,358$0$0$2,506,641
86$4,602,984$0$0$2,681,393
87$4,925,373$0$0$2,871,421
88$5,276,012$0$0$3,078,203
89$5,657,636$0$0$3,303,364
90$6,073,255$0$0$3,548,694
91$6,526,181$0$0$3,816,162
92$7,020,059$0$0$4,107,935
93$7,558,901$0$0$4,426,398
94$8,147,124$0$0$4,774,177
95$8,789,587$0$0$5,154,163
96$9,491,643$0$0$5,569,537
97$10,259,181$0$0$6,023,803
98$11,098,690$0$0$6,520,819
99$12,017,310$0$0$7,064,832
100$13,022,906$0$0$7,660,520