Can I retire at age 59 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$82,579$81,843$81,126$80,425$79,741$76,820
2 years$40,881$40,119$39,381$38,666$37,972$35,062
3 years$26,983$26,218$25,482$24,774$24,091$21,283
4 years$20,036$19,273$18,545$17,848$17,182$14,497
5 years$15,868$15,111$14,391$13,709$13,061$10,508
6 years$13,091$12,339$11,630$10,963$10,335$7,914
7 years$11,108$10,362$9,665$9,013$8,405$6,116
8 years$9,621$8,882$8,197$7,561$6,973$4,813
9 years$8,466$7,734$7,060$6,440$5,872$3,839
10 years$7,542$6,817$6,155$5,552$5,003$3,094
11 years$6,786$6,069$5,419$4,832$4,303$2,513
12 years$6,157$5,447$4,809$4,238$3,729$2,053
13 years$5,625$4,922$4,296$3,742$3,252$1,686
14 years$5,170$4,474$3,860$3,321$2,850$1,390
15 years$4,775$4,087$3,485$2,962$2,510$1,150
16 years$4,430$3,750$3,160$2,652$2,218$953
17 years$4,126$3,454$2,875$2,383$1,967$792
18 years$3,857$3,191$2,625$2,148$1,749$659
19 years$3,615$2,958$2,403$1,940$1,559$550
20 years$3,399$2,748$2,205$1,757$1,392$459
21 years$3,203$2,560$2,029$1,595$1,246$383
22 years$3,025$2,390$1,870$1,450$1,117$321
23 years$2,863$2,235$1,726$1,321$1,002$268
24 years$2,714$2,094$1,596$1,205$901$225
25 years$2,578$1,965$1,479$1,100$811$188
26 years$2,453$1,847$1,371$1,006$730$158
27 years$2,336$1,738$1,273$921$658$132
28 years$2,229$1,638$1,184$844$594$111
29 years$2,129$1,545$1,102$774$537$93
30 years$2,036$1,459$1,026$710$485$78
31 years$1,949$1,380$957$652$438$65
32 years$1,867$1,305$893$599$396$55
33 years$1,791$1,236$833$551$359$46
34 years$1,719$1,172$779$507$325$39
35 years$1,652$1,111$728$467$294$32
36 years$1,588$1,055$681$430$267$27
37 years$1,528$1,002$637$396$242$23
38 years$1,472$952$597$365$219$19
39 years$1,418$905$559$337$199$16
40 years$1,367$861$524$310$180$14
41 years$1,319$820$492$286$163$11
42 years$1,273$781$461$264$148$10
43 years$1,230$744$433$244$135$8
44 years$1,188$709$406$225$122$7
45 years$1,149$676$381$208$111$6
46 years$1,111$645$358$192$101$5
47 years$1,075$616$336$178$91$4
48 years$1,041$588$316$164$83$3
49 years$1,008$561$297$152$75$3
50 years$976$536$279$140$69$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,000,000, adding $3,241 every year, while hoping to spend $25,644 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: 80/12/8 Blend
58$1,000,000$1,000,000$1,000,000$1,000,000
59$1,105,343$1,052,343$1,036,843$1,192,364
60$1,190,803$1,076,623$1,044,292$1,274,139
61$1,284,120$1,101,233$1,051,132$1,360,149
62$1,386,070$1,126,162$1,057,313$1,453,756
63$1,497,503$1,151,399$1,062,788$1,555,708
64$1,619,360$1,176,928$1,067,503$1,666,825
65$1,752,673$1,202,736$1,071,402$1,788,013
66$1,898,580$1,228,805$1,074,429$1,920,267
67$2,058,334$1,255,115$1,076,521$2,064,685
68$2,233,316$1,281,648$1,077,616$2,222,475
69$2,425,044$1,308,378$1,077,646$2,394,969
70$2,635,192$1,335,282$1,076,541$2,583,634
71$2,865,603$1,362,333$1,074,227$2,790,084
72$3,118,308$1,389,500$1,070,626$3,016,099
73$3,395,541$1,416,751$1,065,658$3,263,640
74$3,699,766$1,444,052$1,059,237$3,534,866
75$4,033,694$1,471,363$1,051,274$3,832,157
76$4,400,315$1,498,644$1,041,676$4,158,134
77$4,802,920$1,525,850$1,030,344$4,515,685
78$5,245,134$1,552,933$1,017,177$4,907,993
79$5,730,952$1,579,840$1,002,067$5,338,563
80$6,264,774$1,606,518$984,901$5,811,259
81$6,851,448$1,632,904$965,562$6,330,337
82$7,496,313$1,658,934$943,926$6,900,487
83$8,205,255$1,684,540$919,866$7,526,878
84$8,984,755$1,709,646$893,245$8,215,202
85$9,841,955$1,734,173$863,923$8,971,736
86$10,784,722$1,758,036$831,753$9,803,392
87$11,821,727$1,781,143$796,580$10,717,790
88$12,962,521$1,803,396$758,243$11,723,324
89$14,217,628$1,824,692$716,574$12,829,246
90$15,598,642$1,844,919$671,396$14,045,750
91$17,118,341$1,863,957$622,525$15,384,069
92$18,790,802$1,881,681$569,769$16,856,582
93$20,631,534$1,897,954$512,927$18,476,929
94$22,657,630$1,912,633$451,789$20,260,144
95$24,887,920$1,925,564$386,136$22,222,790
96$27,343,155$1,936,583$315,739$24,383,121
97$30,046,198$1,945,518$240,358$26,761,253
98$33,022,245$1,952,183$159,744$29,379,354
99$36,299,056$1,956,381$73,637$32,261,851
100$39,907,220$1,957,905$0$35,435,664