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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.3%
1 years$87,534$86,754$85,993$85,251$84,526$81,365
2 years$43,334$42,527$41,744$40,986$40,250$37,102
3 years$28,602$27,792$27,011$26,260$25,537$22,500
4 years$21,238$20,430$19,657$18,919$18,213$15,311
5 years$16,820$16,017$15,255$14,532$13,845$11,085
6 years$13,876$13,079$12,328$11,621$10,955$8,340
7 years$11,774$10,984$10,245$9,554$8,909$6,437
8 years$10,199$9,415$8,688$8,015$7,391$5,060
9 years$8,974$8,198$7,483$6,827$6,225$4,032
10 years$7,994$7,226$6,524$5,885$5,304$3,245
11 years$7,193$6,433$5,744$5,122$4,561$2,632
12 years$6,526$5,774$5,097$4,492$3,953$2,148
13 years$5,963$5,218$4,554$3,966$3,447$1,761
14 years$5,480$4,743$4,092$3,521$3,021$1,450
15 years$5,062$4,333$3,695$3,140$2,660$1,198
16 years$4,696$3,975$3,350$2,811$2,351$992
17 years$4,374$3,661$3,048$2,526$2,085$823
18 years$4,088$3,383$2,782$2,276$1,854$684
19 years$3,832$3,135$2,547$2,057$1,652$569
20 years$3,603$2,913$2,338$1,863$1,476$474
21 years$3,395$2,714$2,150$1,691$1,321$396
22 years$3,206$2,533$1,982$1,537$1,184$330
23 years$3,035$2,369$1,830$1,400$1,063$276
24 years$2,877$2,220$1,692$1,277$955$231
25 years$2,733$2,083$1,567$1,166$859$193
26 years$2,600$1,958$1,454$1,066$774$161
27 years$2,477$1,843$1,350$976$698$135
28 years$2,363$1,736$1,255$894$630$113
29 years$2,256$1,638$1,168$820$569$95
30 years$2,158$1,547$1,088$753$514$79
31 years$2,065$1,462$1,014$691$465$66
32 years$1,979$1,384$946$635$420$56
33 years$1,898$1,310$883$584$380$47
34 years$1,822$1,242$825$537$344$39
35 years$1,751$1,178$772$495$312$33
36 years$1,684$1,118$722$456$283$27
37 years$1,620$1,062$676$420$256$23
38 years$1,560$1,009$633$387$232$19
39 years$1,503$960$593$357$211$16
40 years$1,449$913$556$329$191$14
41 years$1,398$869$521$304$173$11
42 years$1,350$828$489$280$157$9
43 years$1,303$789$459$259$143$8
44 years$1,259$752$430$239$130$7
45 years$1,218$717$404$221$118$6
46 years$1,178$684$380$204$107$5
47 years$1,140$653$357$188$97$4
48 years$1,103$623$335$174$88$3
49 years$1,068$595$315$161$80$3
50 years$1,035$568$296$149$73$2

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 $3,937 every year, while hoping to spend $56,417 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: 69/11/20 Blend
41$1,060,000$1,060,000$1,060,000$1,060,000
42$1,172,181$1,116,001$1,099,571$1,247,025
43$1,231,716$1,110,658$1,076,379$1,292,169
44$1,295,433$1,103,162$1,050,520$1,334,564
45$1,363,699$1,093,348$1,021,844$1,379,573
46$1,436,916$1,081,042$990,195$1,427,450
47$1,515,526$1,066,057$955,411$1,478,475
48$1,600,013$1,048,198$917,321$1,532,961
49$1,690,910$1,027,256$875,747$1,591,249
50$1,788,801$1,003,009$830,503$1,653,721
51$1,894,327$975,225$781,394$1,720,799
52$2,008,194$943,657$728,216$1,792,946
53$2,131,176$908,042$670,757$1,870,679
54$2,264,123$868,104$608,795$1,954,566
55$2,407,972$823,548$542,097$2,045,237
56$2,563,749$774,067$470,422$2,143,388
57$2,732,586$719,331$393,515$2,249,789
58$2,915,726$658,993$311,114$2,365,291
59$3,114,534$592,689$222,941$2,490,833
60$3,330,516$520,029$128,708$2,627,455
61$3,565,324$440,606$28,115$2,776,306
62$3,820,778$353,987$0$2,938,653
63$4,098,880$259,715$0$3,132,808
64$4,401,832$157,307$0$3,350,913
65$4,732,058$46,255$0$3,588,746
66$5,092,227$0$0$3,848,272
67$5,485,274$0$0$4,140,614
68$5,914,431$0$0$4,465,983
69$6,383,257$0$0$4,821,485
70$6,895,668$0$0$5,210,097
71$7,455,976$0$0$5,635,098
72$8,068,930$0$0$6,100,096
73$8,739,757$0$0$6,609,065
74$9,474,214$0$0$7,166,383
75$10,278,640$0$0$7,776,868
76$11,160,017$0$0$8,445,826
77$12,126,032$0$0$9,179,104
78$13,185,152$0$0$9,983,137
79$14,346,705$0$0$10,865,017
80$15,620,961$0$0$11,832,552
81$17,019,234$0$0$12,894,343
82$18,553,986$0$0$14,059,866
83$20,238,945$0$0$15,339,556
84$22,089,232$0$0$16,744,911
85$24,121,505$0$0$18,288,595
86$26,354,113$0$0$19,984,559
87$28,807,272$0$0$21,848,172
88$31,503,252$0$0$23,896,368
89$34,466,588$0$0$26,147,800
90$37,724,309$0$0$28,623,019
91$41,306,194$0$0$31,344,667
92$45,245,054$0$0$34,337,689
93$49,577,034$0$0$37,629,569
94$54,341,961$0$0$41,250,588
95$59,583,715$0$0$45,234,109
96$65,350,642$0$0$49,616,892
97$71,696,011$0$0$54,439,440
98$78,678,516$0$0$59,746,378
99$86,362,826$0$0$65,586,879
100$94,820,197$0$0$72,015,122