Can I retire at age 42 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$102,398$101,486$100,596$99,727$98,879$96,685
2 years$50,692$49,748$48,833$47,946$47,085$44,886
3 years$33,459$32,511$31,598$30,719$29,873$27,738
4 years$24,844$23,899$22,995$22,132$21,306$19,250
5 years$19,677$18,737$17,845$16,999$16,196$14,227
6 years$16,233$15,300$14,422$13,594$12,815$10,934
7 years$13,774$12,849$11,985$11,177$10,422$8,629
8 years$11,930$11,014$10,164$9,376$8,646$6,941
9 years$10,497$9,590$8,754$7,986$7,282$5,662
10 years$9,352$8,453$7,632$6,884$6,204$4,670
11 years$8,415$7,525$6,719$5,991$5,336$3,884
12 years$7,635$6,754$5,963$5,255$4,624$3,252
13 years$6,975$6,104$5,328$4,640$4,032$2,739
14 years$6,410$5,548$4,787$4,118$3,535$2,316
15 years$5,921$5,068$4,322$3,673$3,112$1,966
16 years$5,494$4,650$3,918$3,289$2,750$1,674
17 years$5,117$4,283$3,566$2,955$2,439$1,430
18 years$4,782$3,957$3,255$2,663$2,168$1,223
19 years$4,483$3,668$2,980$2,406$1,933$1,048
20 years$4,214$3,408$2,735$2,179$1,726$900
21 years$3,971$3,174$2,515$1,978$1,545$774
22 years$3,751$2,963$2,318$1,798$1,385$666
23 years$3,550$2,771$2,141$1,638$1,243$574
24 years$3,366$2,597$1,980$1,494$1,117$494
25 years$3,197$2,437$1,834$1,364$1,005$427
26 years$3,041$2,290$1,701$1,247$906$368
27 years$2,897$2,155$1,579$1,142$817$318
28 years$2,764$2,031$1,468$1,046$737$275
29 years$2,640$1,916$1,366$959$665$238
30 years$2,524$1,810$1,272$880$601$205
31 years$2,416$1,711$1,186$809$543$178
32 years$2,315$1,619$1,107$743$492$154
33 years$2,221$1,533$1,033$683$445$133
34 years$2,132$1,453$966$629$403$115
35 years$2,048$1,378$903$579$365$100
36 years$1,969$1,308$844$533$331$86
37 years$1,895$1,242$790$491$300$75
38 years$1,825$1,180$740$453$272$65
39 years$1,758$1,123$693$417$246$56
40 years$1,695$1,068$650$385$223$49
41 years$1,635$1,017$609$355$203$42
42 years$1,579$968$572$328$184$36
43 years$1,525$922$536$303$167$32
44 years$1,473$879$504$279$152$27
45 years$1,424$839$473$258$138$24
46 years$1,378$800$444$238$125$21
47 years$1,333$763$417$220$113$18
48 years$1,290$729$392$203$103$15
49 years$1,250$696$369$188$94$13
50 years$1,211$665$346$174$85$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 42 starting with $1,240,000, adding $2,391 every year, while hoping to spend $35,139 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: 50/36/14 Blend
41$1,240,000$1,240,000$1,240,000$1,240,000
42$1,368,946$1,303,226$1,284,006$1,432,042
43$1,471,191$1,329,697$1,289,633$1,502,112
44$1,582,687$1,356,287$1,294,270$1,574,345
45$1,704,341$1,382,964$1,297,848$1,652,058
46$1,837,151$1,409,697$1,300,293$1,735,776
47$1,982,215$1,436,446$1,301,527$1,826,081
48$2,140,741$1,463,173$1,301,469$1,923,612
49$2,314,063$1,489,834$1,300,034$2,029,074
50$2,503,644$1,516,383$1,297,132$2,143,243
51$2,711,100$1,542,770$1,292,670$2,266,978
52$2,938,207$1,568,940$1,286,549$2,401,221
53$3,186,921$1,594,835$1,278,666$2,547,016
54$3,459,399$1,620,394$1,268,913$2,705,510
55$3,758,013$1,645,548$1,257,177$2,877,969
56$4,085,377$1,670,227$1,243,339$3,065,789
57$4,444,369$1,694,352$1,227,274$3,270,509
58$4,838,160$1,717,841$1,208,854$3,493,826
59$5,270,243$1,740,606$1,187,941$3,737,613
60$5,744,464$1,762,551$1,164,393$4,003,931
61$6,265,060$1,783,577$1,138,061$4,295,056
62$6,836,699$1,803,575$1,108,789$4,613,496
63$7,464,522$1,822,430$1,076,413$4,962,018
64$8,154,193$1,840,018$1,040,762$5,343,671
65$8,911,951$1,856,210$1,001,658$5,761,818
66$9,744,671$1,870,865$958,915$6,220,167
67$10,659,924$1,883,835$912,336$6,722,807
68$11,666,055$1,894,961$861,717$7,274,244
69$12,772,254$1,904,075$806,846$7,879,450
70$13,988,647$1,910,998$747,498$8,543,903
71$15,326,391$1,915,539$683,442$9,273,646
72$16,797,779$1,917,496$614,433$10,075,341
73$18,416,353$1,916,654$540,217$10,956,331
74$20,197,035$1,912,785$460,529$11,924,715
75$22,156,267$1,905,646$375,091$12,989,420
76$24,312,164$1,894,980$283,613$14,160,288
77$26,684,684$1,880,513$185,794$15,448,170
78$29,295,821$1,861,958$81,318$16,865,030
79$32,169,807$1,839,006$0$18,424,057
80$35,333,342$1,811,332$0$20,144,298
81$38,815,848$1,778,592$0$22,050,530
82$42,649,742$1,740,421$0$24,148,318
83$46,870,746$1,696,432$0$26,457,197
84$51,518,220$1,646,215$0$28,998,701
85$56,635,537$1,589,338$0$31,796,563
86$62,270,487$1,525,340$0$34,876,944
87$68,475,733$1,453,738$0$38,268,675
88$75,309,304$1,374,018$0$42,003,539
89$82,835,144$1,285,636$0$46,116,561
90$91,123,716$1,188,019$0$50,646,349
91$100,252,662$1,080,559$0$55,635,457
92$110,307,542$962,615$0$61,130,783
93$121,382,637$833,509$0$67,184,020
94$133,581,839$692,524$0$73,852,143
95$147,019,631$538,903$0$81,197,944
96$161,822,171$371,846$0$89,290,635
97$178,128,476$190,510$0$98,206,494
98$196,091,738$0$0$108,029,594
99$215,880,768$0$0$118,854,968
100$237,681,591$0$0$130,864,219