Can I retire at age 59 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$82,001$81,271$80,558$79,862$79,183$78,097
2 years$40,595$39,839$39,106$38,395$37,706$36,614
3 years$26,794$26,035$25,304$24,600$23,922$22,857
4 years$19,895$19,138$18,415$17,723$17,062$16,033
5 years$15,757$15,005$14,291$13,613$12,970$11,980
6 years$12,999$12,253$11,549$10,886$10,263$9,313
7 years$11,030$10,290$9,597$8,950$8,346$7,437
8 years$9,554$8,820$8,139$7,508$6,924$6,055
9 years$8,406$7,680$7,010$6,395$5,831$5,002
10 years$7,489$6,769$6,112$5,513$4,968$4,179
11 years$6,739$6,026$5,381$4,798$4,273$3,522
12 years$6,114$5,409$4,775$4,208$3,703$2,989
13 years$5,586$4,888$4,266$3,715$3,229$2,552
14 years$5,133$4,443$3,833$3,298$2,831$2,189
15 years$4,742$4,059$3,461$2,941$2,492$1,886
16 years$4,399$3,724$3,138$2,634$2,203$1,630
17 years$4,098$3,429$2,855$2,366$1,953$1,412
18 years$3,830$3,169$2,607$2,132$1,737$1,227
19 years$3,590$2,937$2,386$1,927$1,548$1,068
20 years$3,375$2,729$2,190$1,745$1,383$932
21 years$3,180$2,542$2,014$1,584$1,237$814
22 years$3,004$2,373$1,857$1,440$1,109$712
23 years$2,843$2,219$1,714$1,312$995$623
24 years$2,695$2,079$1,585$1,196$895$546
25 years$2,560$1,951$1,468$1,092$805$479
26 years$2,435$1,834$1,362$999$725$420
27 years$2,320$1,726$1,265$914$654$369
28 years$2,213$1,626$1,176$838$590$325
29 years$2,114$1,534$1,094$768$533$285
30 years$2,021$1,449$1,019$705$481$251
31 years$1,935$1,370$950$647$435$221
32 years$1,854$1,296$886$595$394$195
33 years$1,778$1,227$828$547$356$171
34 years$1,707$1,163$773$503$323$151
35 years$1,640$1,103$723$463$292$133
36 years$1,577$1,047$676$427$265$117
37 years$1,518$995$633$393$240$103
38 years$1,461$945$593$362$218$91
39 years$1,408$899$555$334$197$80
40 years$1,358$855$521$308$179$71
41 years$1,310$814$488$284$162$62
42 years$1,264$775$458$262$147$55
43 years$1,221$739$430$242$134$49
44 years$1,180$704$403$224$121$43
45 years$1,141$671$379$207$110$38
46 years$1,103$641$356$191$100$33
47 years$1,067$611$334$176$91$29
48 years$1,033$584$314$163$82$26
49 years$1,001$557$295$151$75$23
50 years$970$532$277$139$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $993,000, adding $3,187 every year, while hoping to spend $26,701 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: 66/29/5 Blend
58$993,000$993,000$993,000$993,000
59$1,097,573$1,044,944$1,029,553$1,169,098
60$1,181,116$1,067,737$1,035,633$1,239,746
61$1,272,286$1,090,752$1,041,022$1,313,409
62$1,371,831$1,113,971$1,045,669$1,393,191
63$1,480,578$1,137,375$1,049,519$1,479,683
64$1,599,435$1,160,945$1,052,516$1,573,537
65$1,729,402$1,184,656$1,054,600$1,675,470
66$1,871,581$1,208,484$1,055,709$1,786,272
67$2,027,184$1,232,402$1,055,777$1,906,815
68$2,197,547$1,256,380$1,054,736$2,038,056
69$2,384,140$1,280,385$1,052,513$2,181,052
70$2,588,583$1,304,384$1,049,032$2,336,967
71$2,812,658$1,328,339$1,044,214$2,507,081
72$3,058,330$1,352,209$1,037,977$2,692,807
73$3,327,762$1,375,950$1,030,232$2,895,700
74$3,623,337$1,399,514$1,020,888$3,117,475
75$3,947,680$1,422,853$1,009,849$3,360,020
76$4,303,680$1,445,909$997,016$3,625,416
77$4,694,522$1,468,626$982,283$3,915,955
78$5,123,714$1,490,939$965,541$4,234,164
79$5,595,120$1,512,782$946,673$4,582,827
80$6,112,996$1,534,082$925,560$4,965,011
81$6,682,031$1,554,762$902,076$5,384,097
82$7,307,391$1,574,738$876,089$5,843,812
83$7,994,768$1,593,923$847,460$6,348,258
84$8,750,431$1,612,222$816,047$6,901,962
85$9,581,287$1,629,533$781,697$7,509,909
86$10,494,948$1,645,750$744,253$8,177,593
87$11,499,797$1,660,756$703,551$8,911,068
88$12,605,074$1,674,431$659,417$9,717,010
89$13,820,957$1,686,643$611,673$10,602,771
90$15,158,659$1,697,253$560,129$11,576,456
91$16,630,539$1,706,115$504,589$12,646,998
92$18,250,209$1,713,070$444,848$13,824,240
93$20,032,672$1,717,951$380,692$15,119,031
94$21,994,455$1,720,582$311,896$16,543,328
95$24,153,771$1,720,772$238,226$18,110,306
96$26,530,688$1,718,322$159,439$19,834,489
97$29,147,317$1,713,019$75,279$21,731,881
98$32,028,024$1,704,637$0$23,820,121
99$35,199,654$1,692,936$0$26,119,423
100$38,691,790$1,677,662$0$28,654,772