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%13.3%
1 years$82,579$81,843$81,126$80,425$79,741$78,647
2 years$40,881$40,119$39,381$38,666$37,972$36,872
3 years$26,983$26,218$25,482$24,774$24,091$23,019
4 years$20,036$19,273$18,545$17,848$17,182$16,146
5 years$15,868$15,111$14,391$13,709$13,061$12,064
6 years$13,091$12,339$11,630$10,963$10,335$9,378
7 years$11,108$10,362$9,665$9,013$8,405$7,489
8 years$9,621$8,882$8,197$7,561$6,973$6,098
9 years$8,466$7,734$7,060$6,440$5,872$5,037
10 years$7,542$6,817$6,155$5,552$5,003$4,208
11 years$6,786$6,069$5,419$4,832$4,303$3,547
12 years$6,157$5,447$4,809$4,238$3,729$3,010
13 years$5,625$4,922$4,296$3,742$3,252$2,570
14 years$5,170$4,474$3,860$3,321$2,850$2,205
15 years$4,775$4,087$3,485$2,962$2,510$1,899
16 years$4,430$3,750$3,160$2,652$2,218$1,641
17 years$4,126$3,454$2,875$2,383$1,967$1,422
18 years$3,857$3,191$2,625$2,148$1,749$1,236
19 years$3,615$2,958$2,403$1,940$1,559$1,076
20 years$3,399$2,748$2,205$1,757$1,392$938
21 years$3,203$2,560$2,029$1,595$1,246$819
22 years$3,025$2,390$1,870$1,450$1,117$717
23 years$2,863$2,235$1,726$1,321$1,002$627
24 years$2,714$2,094$1,596$1,205$901$550
25 years$2,578$1,965$1,479$1,100$811$482
26 years$2,453$1,847$1,371$1,006$730$423
27 years$2,336$1,738$1,273$921$658$372
28 years$2,229$1,638$1,184$844$594$327
29 years$2,129$1,545$1,102$774$537$288
30 years$2,036$1,459$1,026$710$485$253
31 years$1,949$1,380$957$652$438$223
32 years$1,867$1,305$893$599$396$196
33 years$1,791$1,236$833$551$359$173
34 years$1,719$1,172$779$507$325$152
35 years$1,652$1,111$728$467$294$134
36 years$1,588$1,055$681$430$267$118
37 years$1,528$1,002$637$396$242$104
38 years$1,472$952$597$365$219$92
39 years$1,418$905$559$337$199$81
40 years$1,367$861$524$310$180$71
41 years$1,319$820$492$286$163$63
42 years$1,273$781$461$264$148$55
43 years$1,230$744$433$244$135$49
44 years$1,188$709$406$225$122$43
45 years$1,149$676$381$208$111$38
46 years$1,111$645$358$192$101$34
47 years$1,075$616$336$178$91$30
48 years$1,041$588$316$164$83$26
49 years$1,008$561$297$152$75$23
50 years$976$536$279$140$69$20

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 $6,110 every year, while hoping to spend $26,623 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: 69/18/13 Blend
58$1,000,000$1,000,000$1,000,000$1,000,000
59$1,108,302$1,055,302$1,039,802$1,181,169
60$1,193,023$1,078,686$1,046,309$1,253,772
61$1,285,492$1,102,322$1,052,142$1,329,405
62$1,386,473$1,126,197$1,057,249$1,411,460
63$1,496,804$1,150,292$1,061,578$1,500,564
64$1,617,410$1,174,588$1,065,073$1,597,409
65$1,749,308$1,199,064$1,067,675$1,702,757
66$1,893,617$1,223,698$1,069,322$1,817,447
67$2,051,571$1,248,465$1,069,949$1,942,403
68$2,224,528$1,273,336$1,069,489$2,078,642
69$2,413,983$1,298,282$1,067,869$2,227,288
70$2,621,582$1,323,271$1,065,016$2,389,577
71$2,849,140$1,348,268$1,060,851$2,566,869
72$3,098,654$1,373,235$1,055,291$2,760,666
73$3,372,324$1,398,130$1,048,250$2,972,622
74$3,672,572$1,422,910$1,039,638$3,204,559
75$4,002,068$1,447,527$1,029,360$3,458,483
76$4,363,753$1,471,929$1,017,317$3,736,609
77$4,760,863$1,496,061$1,003,404$4,041,374
78$5,196,967$1,519,864$987,514$4,375,464
79$5,675,994$1,543,274$969,532$4,741,841
80$6,202,273$1,566,222$949,340$5,143,768
81$6,780,574$1,588,636$926,811$5,584,840
82$7,416,150$1,610,436$901,817$6,069,021
83$8,114,789$1,631,539$874,220$6,600,677
84$8,882,869$1,651,856$843,877$7,184,621
85$9,727,414$1,671,290$810,640$7,826,157
86$10,656,166$1,689,738$774,352$8,531,131
87$11,677,651$1,707,092$734,849$9,305,984
88$12,801,267$1,723,235$691,962$10,157,817
89$14,037,365$1,738,042$645,511$11,094,455
90$15,397,352$1,751,382$595,312$12,124,519
91$16,893,795$1,763,113$541,168$13,257,514
92$18,540,541$1,773,085$482,876$14,503,913
93$20,352,849$1,781,138$420,224$15,875,259
94$22,347,528$1,787,102$352,991$17,384,274
95$24,543,104$1,790,798$280,944$19,044,978
96$26,959,986$1,792,033$203,841$20,872,822
97$29,620,665$1,790,603$121,430$22,884,834
98$32,549,922$1,786,292$33,448$25,099,783
99$35,775,064$1,778,870$0$27,538,351
100$39,326,180$1,768,094$0$30,231,717