Can I retire at age 59 with 986,000?

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 $986,000?

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$81,423$80,698$79,990$79,299$78,625$77,386
2 years$40,308$39,558$38,830$38,125$37,440$36,196
3 years$26,605$25,851$25,126$24,427$23,754$22,542
4 years$19,755$19,004$18,285$17,598$16,941$15,771
5 years$15,646$14,899$14,190$13,517$12,879$11,754
6 years$12,908$12,166$11,468$10,810$10,190$9,112
7 years$10,952$10,217$9,530$8,887$8,288$7,256
8 years$9,487$8,758$8,082$7,455$6,875$5,891
9 years$8,347$7,625$6,961$6,350$5,790$4,852
10 years$7,436$6,721$6,069$5,474$4,933$4,041
11 years$6,691$5,984$5,343$4,764$4,243$3,395
12 years$6,071$5,371$4,742$4,179$3,677$2,873
13 years$5,546$4,853$4,236$3,689$3,206$2,445
14 years$5,097$4,412$3,806$3,275$2,811$2,090
15 years$4,708$4,030$3,437$2,921$2,475$1,794
16 years$4,368$3,698$3,116$2,615$2,187$1,545
17 years$4,069$3,405$2,835$2,350$1,939$1,334
18 years$3,803$3,147$2,588$2,117$1,724$1,155
19 years$3,565$2,916$2,369$1,913$1,537$1,002
20 years$3,351$2,710$2,174$1,733$1,373$870
21 years$3,158$2,524$2,000$1,573$1,228$757
22 years$2,983$2,356$1,843$1,430$1,101$660
23 years$2,823$2,204$1,702$1,302$988$576
24 years$2,676$2,065$1,574$1,188$888$502
25 years$2,542$1,938$1,458$1,085$799$439
26 years$2,418$1,821$1,352$992$720$384
27 years$2,304$1,714$1,256$908$649$336
28 years$2,198$1,615$1,167$832$586$294
29 years$2,099$1,524$1,086$763$529$257
30 years$2,007$1,439$1,012$700$478$226
31 years$1,921$1,360$943$643$432$198
32 years$1,841$1,287$880$591$391$173
33 years$1,766$1,219$822$543$354$152
34 years$1,695$1,155$768$500$320$133
35 years$1,629$1,096$718$460$290$117
36 years$1,566$1,040$672$424$263$103
37 years$1,507$988$629$391$238$90
38 years$1,451$939$589$360$216$79
39 years$1,398$893$551$332$196$69
40 years$1,348$849$517$306$178$61
41 years$1,300$808$485$282$161$54
42 years$1,255$770$455$261$146$47
43 years$1,212$734$427$241$133$41
44 years$1,172$699$400$222$120$36
45 years$1,133$667$376$205$109$32
46 years$1,095$636$353$190$99$28
47 years$1,060$607$332$175$90$25
48 years$1,026$579$312$162$82$22
49 years$994$553$293$150$74$19
50 years$963$529$276$138$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $986,000, adding $6,390 every year, while hoping to spend $36,628 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: 49/38/13 Blend
58$986,000$986,000$986,000$986,000
59$1,093,163$1,040,905$1,025,622$1,142,529
60$1,165,694$1,052,938$1,021,009$1,189,194
61$1,244,395$1,064,332$1,015,013$1,235,517
62$1,329,858$1,075,019$1,007,550$1,285,015
63$1,422,731$1,084,923$998,531$1,337,996
64$1,523,731$1,093,964$987,863$1,394,803
65$1,633,642$1,102,060$975,447$1,455,813
66$1,753,331$1,109,118$961,182$1,521,445
67$1,883,749$1,115,044$944,960$1,592,158
68$2,025,945$1,119,734$926,670$1,668,465
69$2,181,072$1,123,081$906,193$1,750,928
70$2,350,399$1,124,969$883,408$1,840,171
71$2,535,322$1,125,276$858,185$1,936,882
72$2,737,382$1,123,871$830,391$2,041,821
73$2,958,270$1,120,616$799,885$2,155,830
74$3,199,852$1,115,365$766,519$2,279,837
75$3,464,180$1,107,961$730,140$2,414,869
76$3,753,515$1,098,239$690,588$2,562,057
77$4,070,345$1,086,025$647,695$2,722,654
78$4,417,412$1,071,132$601,285$2,898,043
79$4,797,735$1,053,364$551,175$3,089,751
80$5,214,638$1,032,513$497,173$3,299,465
81$5,671,782$1,008,357$439,079$3,529,045
82$6,173,200$980,662$376,684$3,780,551
83$6,723,334$949,183$309,771$4,056,250
84$7,327,076$913,655$238,111$4,358,652
85$7,989,816$873,802$161,465$4,690,523
86$8,717,490$829,331$79,587$5,054,919
87$9,516,637$779,931$0$5,455,212
88$10,394,460$725,275$0$5,896,207
89$11,358,897$665,014$0$6,392,783
90$12,418,688$598,784$0$6,938,463
91$13,583,465$526,195$0$7,538,293
92$14,863,839$446,839$0$8,197,839
93$16,271,498$360,282$0$8,923,241
94$17,819,323$266,068$0$9,721,270
95$19,521,503$163,714$0$10,599,396
96$21,393,669$52,709$0$11,565,856
97$23,453,048$0$0$12,629,738
98$25,718,615$0$0$13,829,279
99$28,211,281$0$0$15,173,434
100$30,954,084$0$0$16,652,600