Can I retire at age 42 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$87,534$86,754$85,993$85,251$84,526$82,718
2 years$43,334$42,527$41,744$40,986$40,250$38,438
3 years$28,602$27,792$27,011$26,260$25,537$23,776
4 years$21,238$20,430$19,657$18,919$18,213$16,517
5 years$16,820$16,017$15,255$14,532$13,845$12,220
6 years$13,876$13,079$12,328$11,621$10,955$9,402
7 years$11,774$10,984$10,245$9,554$8,909$7,428
8 years$10,199$9,415$8,688$8,015$7,391$5,982
9 years$8,974$8,198$7,483$6,827$6,225$4,886
10 years$7,994$7,226$6,524$5,885$5,304$4,034
11 years$7,193$6,433$5,744$5,122$4,561$3,360
12 years$6,526$5,774$5,097$4,492$3,953$2,817
13 years$5,963$5,218$4,554$3,966$3,447$2,375
14 years$5,480$4,743$4,092$3,521$3,021$2,012
15 years$5,062$4,333$3,695$3,140$2,660$1,710
16 years$4,696$3,975$3,350$2,811$2,351$1,458
17 years$4,374$3,661$3,048$2,526$2,085$1,247
18 years$4,088$3,383$2,782$2,276$1,854$1,068
19 years$3,832$3,135$2,547$2,057$1,652$917
20 years$3,603$2,913$2,338$1,863$1,476$789
21 years$3,395$2,714$2,150$1,691$1,321$679
22 years$3,206$2,533$1,982$1,537$1,184$585
23 years$3,035$2,369$1,830$1,400$1,063$505
24 years$2,877$2,220$1,692$1,277$955$436
25 years$2,733$2,083$1,567$1,166$859$377
26 years$2,600$1,958$1,454$1,066$774$326
27 years$2,477$1,843$1,350$976$698$282
28 years$2,363$1,736$1,255$894$630$244
29 years$2,256$1,638$1,168$820$569$211
30 years$2,158$1,547$1,088$753$514$183
31 years$2,065$1,462$1,014$691$465$158
32 years$1,979$1,384$946$635$420$137
33 years$1,898$1,310$883$584$380$119
34 years$1,822$1,242$825$537$344$103
35 years$1,751$1,178$772$495$312$89
36 years$1,684$1,118$722$456$283$78
37 years$1,620$1,062$676$420$256$67
38 years$1,560$1,009$633$387$232$58
39 years$1,503$960$593$357$211$51
40 years$1,449$913$556$329$191$44
41 years$1,398$869$521$304$173$38
42 years$1,350$828$489$280$157$33
43 years$1,303$789$459$259$143$29
44 years$1,259$752$430$239$130$25
45 years$1,218$717$404$221$118$22
46 years$1,178$684$380$204$107$19
47 years$1,140$653$357$188$97$16
48 years$1,103$623$335$174$88$14
49 years$1,068$595$315$161$80$12
50 years$1,035$568$296$149$73$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 42 starting with $1,060,000, adding $2,404 every year, while hoping to spend $31,976 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: 77/7/16 Blend
41$1,060,000$1,060,000$1,060,000$1,060,000
42$1,170,600$1,114,420$1,097,990$1,256,480
43$1,255,979$1,135,004$1,100,750$1,334,083
44$1,348,995$1,155,525$1,102,531$1,414,905
45$1,450,393$1,175,947$1,103,267$1,502,663
46$1,560,993$1,196,228$1,102,887$1,598,038
47$1,681,699$1,216,328$1,101,317$1,701,781
48$1,813,503$1,236,199$1,098,482$1,814,718
49$1,957,499$1,255,792$1,094,301$1,937,762
50$2,114,893$1,275,054$1,088,689$2,071,916
51$2,287,009$1,293,929$1,081,557$2,218,286
52$2,475,307$1,312,355$1,072,812$2,378,092
53$2,681,395$1,330,267$1,062,358$2,552,676
54$2,907,043$1,347,596$1,050,093$2,743,519
55$3,154,199$1,364,266$1,035,909$2,952,251
56$3,425,011$1,380,198$1,019,695$3,180,670
57$3,721,841$1,395,306$1,001,334$3,430,755
58$4,047,293$1,409,501$980,703$3,704,690
59$4,404,236$1,422,685$957,675$4,004,879
60$4,795,826$1,434,754$932,115$4,333,972
61$5,225,542$1,445,600$903,883$4,694,890
62$5,697,217$1,455,103$872,832$5,090,852
63$6,215,070$1,463,141$838,809$5,525,404
64$6,783,752$1,469,579$801,654$6,002,456
65$7,408,383$1,474,278$761,199$6,526,316
66$8,094,607$1,477,086$717,268$7,101,731
67$8,848,639$1,477,845$669,678$7,733,935
68$9,677,326$1,476,385$618,238$8,428,692
69$10,588,212$1,472,527$562,747$9,192,359
70$11,589,608$1,466,079$502,998$10,031,940
71$12,690,670$1,456,839$438,770$10,955,152
72$13,901,487$1,444,592$369,838$11,970,504
73$15,233,172$1,429,111$295,961$13,087,369
74$16,697,973$1,410,155$216,892$14,316,082
75$18,309,379$1,387,466$132,372$15,668,027
76$20,082,258$1,360,774$42,129$17,155,756
77$22,032,989$1,329,792$0$18,793,098
78$24,179,618$1,294,216$0$20,604,546
79$26,542,029$1,253,723$0$22,605,926
80$29,142,133$1,207,973$0$24,808,604
81$32,004,072$1,156,604$0$27,233,038
82$35,154,446$1,099,237$0$29,901,772
83$38,622,566$1,035,465$0$32,839,647
84$42,440,729$964,864$0$36,074,038
85$46,644,521$886,981$0$39,635,107
86$51,273,159$801,339$0$43,556,094
87$56,369,850$707,434$0$47,873,628
88$61,982,209$604,733$0$52,628,071
89$68,162,702$492,672$0$57,863,900
90$74,969,142$370,657$0$63,630,128
91$82,465,234$238,059$0$69,980,767
92$90,721,179$94,215$0$76,975,333
93$99,814,332$0$0$84,679,415
94$109,829,934$0$0$93,170,031
95$120,861,915$0$0$102,530,319
96$133,013,782$0$0$112,840,850
97$146,399,594$0$0$124,198,407
98$161,145,038$0$0$136,709,640
99$177,388,618$0$0$150,492,074
100$195,282,956$0$0$165,675,214