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%14.5%
1 years$82,414$81,680$80,964$80,265$79,582$78,103
2 years$40,799$40,039$39,303$38,589$37,896$36,412
3 years$26,929$26,166$25,431$24,724$24,043$22,599
4 years$19,996$19,235$18,508$17,812$17,148$15,756
5 years$15,837$15,080$14,363$13,682$13,035$11,699
6 years$13,065$12,314$11,607$10,941$10,314$9,036
7 years$11,086$10,341$9,646$8,995$8,388$7,167
8 years$9,602$8,865$8,180$7,546$6,959$5,795
9 years$8,449$7,718$7,046$6,428$5,860$4,753
10 years$7,527$6,803$6,143$5,541$4,993$3,942
11 years$6,773$6,056$5,408$4,822$4,294$3,297
12 years$6,145$5,436$4,799$4,230$3,722$2,777
13 years$5,614$4,913$4,288$3,734$3,245$2,353
14 years$5,159$4,465$3,853$3,315$2,845$2,002
15 years$4,766$4,079$3,478$2,956$2,505$1,710
16 years$4,422$3,743$3,154$2,647$2,214$1,466
17 years$4,118$3,447$2,870$2,378$1,963$1,259
18 years$3,849$3,185$2,620$2,143$1,745$1,085
19 years$3,608$2,952$2,398$1,937$1,556$936
20 years$3,392$2,743$2,201$1,754$1,389$809
21 years$3,196$2,555$2,024$1,592$1,243$700
22 years$3,019$2,385$1,866$1,447$1,115$607
23 years$2,857$2,231$1,723$1,318$1,000$526
24 years$2,709$2,090$1,593$1,202$899$457
25 years$2,573$1,961$1,476$1,098$809$397
26 years$2,448$1,843$1,369$1,004$729$345
27 years$2,332$1,735$1,271$919$657$300
28 years$2,224$1,635$1,181$842$593$261
29 years$2,124$1,542$1,099$772$535$228
30 years$2,031$1,456$1,024$709$484$198
31 years$1,945$1,377$955$651$437$173
32 years$1,863$1,303$891$598$396$151
33 years$1,787$1,234$832$550$358$131
34 years$1,716$1,169$777$506$324$115
35 years$1,648$1,109$727$466$294$100
36 years$1,585$1,053$680$429$266$87
37 years$1,525$1,000$636$395$241$76
38 years$1,469$950$596$364$219$66
39 years$1,415$903$558$336$198$58
40 years$1,364$860$523$310$180$51
41 years$1,316$818$491$286$163$44
42 years$1,271$779$460$264$148$39
43 years$1,227$742$432$244$134$34
44 years$1,186$708$405$225$122$29
45 years$1,146$675$381$208$111$26
46 years$1,109$644$357$192$101$22
47 years$1,073$614$336$177$91$20
48 years$1,039$587$316$164$83$17
49 years$1,006$560$297$151$75$15
50 years$974$535$279$140$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $998,000, adding $6,372 every year, while hoping to spend $48,159 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: 63/27/10 Blend
58$998,000$998,000$998,000$998,000
59$1,106,369$1,053,475$1,038,006$1,173,230
60$1,167,978$1,053,854$1,021,538$1,219,081
61$1,234,256$1,052,638$1,002,905$1,262,957
62$1,305,631$1,049,698$981,982$1,309,648
63$1,382,568$1,044,896$958,641$1,359,429
64$1,465,581$1,038,087$932,747$1,412,600
65$1,555,234$1,029,117$904,158$1,469,496
66$1,652,148$1,017,823$872,727$1,530,484
67$1,757,002$1,004,031$838,298$1,595,973
68$1,870,545$987,559$800,711$1,666,413
69$1,993,602$968,210$759,796$1,742,305
70$2,127,077$945,779$715,376$1,824,200
71$2,271,965$920,049$667,267$1,912,708
72$2,429,361$890,787$615,277$2,008,504
73$2,600,470$857,750$559,202$2,112,335
74$2,786,616$820,678$498,834$2,225,026
75$2,989,257$779,298$433,952$2,347,487
76$3,209,998$733,320$364,326$2,480,728
77$3,450,603$682,438$289,716$2,625,863
78$3,713,016$626,328$209,872$2,784,123
79$3,999,373$564,648$124,533$2,956,868
80$4,312,030$497,036$33,425$3,145,602
81$4,653,576$423,110$0$3,351,987
82$5,026,863$342,465$0$3,584,665
83$5,435,033$254,676$0$3,843,104
84$5,881,542$159,291$0$4,126,007
85$6,370,198$55,834$0$4,435,883
86$6,905,191$0$0$4,775,498
87$7,491,139$0$0$5,164,604
88$8,133,124$0$0$5,609,168
89$8,836,745$0$0$6,096,488
90$9,608,168$0$0$6,630,843
91$10,454,184$0$0$7,216,947
92$11,382,271$0$0$7,859,990
93$12,400,669$0$0$8,565,692
94$13,518,452$0$0$9,340,350
95$14,745,615$0$0$10,190,904
96$16,093,170$0$0$11,124,996
97$17,573,246$0$0$12,151,047
98$19,199,204$0$0$13,278,330
99$20,985,766$0$0$14,517,064
100$22,949,146$0$0$15,878,507