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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$82,579$81,843$81,126$80,425$79,741$78,876
2 years$40,881$40,119$39,381$38,666$37,972$37,101
3 years$26,983$26,218$25,482$24,774$24,091$23,241
4 years$20,036$19,273$18,545$17,848$17,182$16,359
5 years$15,868$15,111$14,391$13,709$13,061$12,269
6 years$13,091$12,339$11,630$10,963$10,335$9,573
7 years$11,108$10,362$9,665$9,013$8,405$7,675
8 years$9,621$8,882$8,197$7,561$6,973$6,274
9 years$8,466$7,734$7,060$6,440$5,872$5,204
10 years$7,542$6,817$6,155$5,552$5,003$4,366
11 years$6,786$6,069$5,419$4,832$4,303$3,696
12 years$6,157$5,447$4,809$4,238$3,729$3,151
13 years$5,625$4,922$4,296$3,742$3,252$2,703
14 years$5,170$4,474$3,860$3,321$2,850$2,329
15 years$4,775$4,087$3,485$2,962$2,510$2,016
16 years$4,430$3,750$3,160$2,652$2,218$1,750
17 years$4,126$3,454$2,875$2,383$1,967$1,525
18 years$3,857$3,191$2,625$2,148$1,749$1,331
19 years$3,615$2,958$2,403$1,940$1,559$1,165
20 years$3,399$2,748$2,205$1,757$1,392$1,021
21 years$3,203$2,560$2,029$1,595$1,246$896
22 years$3,025$2,390$1,870$1,450$1,117$788
23 years$2,863$2,235$1,726$1,321$1,002$694
24 years$2,714$2,094$1,596$1,205$901$611
25 years$2,578$1,965$1,479$1,100$811$539
26 years$2,453$1,847$1,371$1,006$730$476
27 years$2,336$1,738$1,273$921$658$421
28 years$2,229$1,638$1,184$844$594$372
29 years$2,129$1,545$1,102$774$537$329
30 years$2,036$1,459$1,026$710$485$291
31 years$1,949$1,380$957$652$438$257
32 years$1,867$1,305$893$599$396$228
33 years$1,791$1,236$833$551$359$202
34 years$1,719$1,172$779$507$325$179
35 years$1,652$1,111$728$467$294$159
36 years$1,588$1,055$681$430$267$141
37 years$1,528$1,002$637$396$242$125
38 years$1,472$952$597$365$219$111
39 years$1,418$905$559$337$199$98
40 years$1,367$861$524$310$180$87
41 years$1,319$820$492$286$163$77
42 years$1,273$781$461$264$148$68
43 years$1,230$744$433$244$135$61
44 years$1,188$709$406$225$122$54
45 years$1,149$676$381$208$111$48
46 years$1,111$645$358$192$101$43
47 years$1,075$616$336$178$91$38
48 years$1,041$588$316$164$83$33
49 years$1,008$561$297$152$75$30
50 years$976$536$279$140$69$26

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 $3,607 every year, while hoping to spend $51,113 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: 29/49/22 Blend
58$1,000,000$1,000,000$1,000,000$1,000,000
59$1,105,721$1,052,721$1,037,221$1,130,081
60$1,164,120$1,049,920$1,017,584$1,146,382
61$1,226,764$1,045,269$995,576$1,159,112
62$1,294,030$1,038,623$971,064$1,171,727
63$1,366,334$1,029,829$943,908$1,184,250
64$1,444,133$1,018,724$913,962$1,196,711
65$1,527,928$1,005,135$881,073$1,209,146
66$1,618,271$988,880$845,082$1,221,601
67$1,715,764$969,766$805,823$1,234,132
68$1,821,073$947,585$763,119$1,246,806
69$1,934,929$922,123$716,790$1,259,704
70$2,058,133$893,148$666,643$1,272,921
71$2,191,568$860,418$612,481$1,286,568
72$2,336,203$823,674$554,095$1,300,775
73$2,493,106$782,644$491,267$1,315,695
74$2,663,450$737,040$423,771$1,331,502
75$2,848,523$686,557$351,370$1,348,398
76$3,049,747$630,873$273,815$1,366,616
77$3,268,681$569,646$190,848$1,386,419
78$3,507,045$502,516$102,199$1,408,111
79$3,766,727$429,104$7,587$1,432,036
80$4,049,810$349,006$0$1,458,585
81$4,358,581$261,798$0$1,510,124
82$4,695,561$167,030$0$1,568,558
83$5,063,524$64,230$0$1,632,747
84$5,465,522$0$0$1,703,410
85$5,904,919$0$0$1,806,746
86$6,385,415$0$0$1,957,771
87$6,911,084$0$0$2,123,154
88$7,486,413$0$0$2,304,325
89$8,116,344$0$0$2,502,860
90$8,806,316$0$0$2,720,496
91$9,562,323$0$0$2,959,145
92$10,390,961$0$0$3,220,913
93$11,299,499$0$0$3,508,119
94$12,295,940$0$0$3,823,318
95$13,389,101$0$0$4,169,324
96$14,588,692$0$0$4,549,238
97$15,905,409$0$0$4,966,475
98$17,351,035$0$0$5,424,796
99$18,938,548$0$0$5,928,345
100$20,682,244$0$0$6,481,689