Can I retire at age 59 with 1,010,000?

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 $1,010,000?

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$83,405$82,662$81,937$81,230$80,539$79,665
2 years$41,290$40,521$39,775$39,053$38,352$37,472
3 years$27,253$26,481$25,737$25,021$24,332$23,473
4 years$20,236$19,466$18,730$18,027$17,354$16,523
5 years$16,027$15,262$14,535$13,846$13,192$12,391
6 years$13,222$12,462$11,747$11,073$10,438$9,669
7 years$11,219$10,466$9,762$9,104$8,489$7,752
8 years$9,717$8,971$8,279$7,637$7,043$6,337
9 years$8,550$7,811$7,130$6,505$5,931$5,256
10 years$7,617$6,885$6,216$5,607$5,053$4,410
11 years$6,854$6,129$5,473$4,880$4,346$3,733
12 years$6,219$5,501$4,857$4,280$3,766$3,183
13 years$5,681$4,972$4,339$3,779$3,284$2,730
14 years$5,221$4,519$3,899$3,355$2,879$2,353
15 years$4,823$4,128$3,520$2,992$2,535$2,036
16 years$4,475$3,788$3,192$2,679$2,240$1,768
17 years$4,168$3,488$2,904$2,407$1,986$1,540
18 years$3,895$3,223$2,651$2,169$1,766$1,344
19 years$3,652$2,987$2,427$1,960$1,574$1,176
20 years$3,433$2,776$2,227$1,775$1,406$1,031
21 years$3,235$2,586$2,049$1,611$1,258$905
22 years$3,055$2,414$1,888$1,465$1,128$796
23 years$2,891$2,257$1,743$1,334$1,013$701
24 years$2,742$2,115$1,612$1,217$910$618
25 years$2,604$1,985$1,493$1,111$819$545
26 years$2,477$1,865$1,385$1,016$738$481
27 years$2,360$1,756$1,286$930$665$425
28 years$2,251$1,654$1,196$852$600$375
29 years$2,150$1,561$1,113$781$542$332
30 years$2,056$1,474$1,036$717$490$294
31 years$1,968$1,393$966$659$443$260
32 years$1,886$1,318$901$605$400$230
33 years$1,809$1,248$842$557$362$204
34 years$1,736$1,183$786$512$328$181
35 years$1,668$1,122$735$471$297$160
36 years$1,604$1,065$688$434$269$142
37 years$1,544$1,012$644$400$244$126
38 years$1,486$962$603$369$221$112
39 years$1,432$914$565$340$201$99
40 years$1,381$870$529$314$182$88
41 years$1,332$828$496$289$165$78
42 years$1,286$789$466$267$150$69
43 years$1,242$751$437$246$136$61
44 years$1,200$716$410$228$123$54
45 years$1,160$683$385$210$112$48
46 years$1,122$652$362$194$102$43
47 years$1,086$622$340$179$92$38
48 years$1,051$594$319$166$84$34
49 years$1,018$567$300$153$76$30
50 years$986$541$282$142$69$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,010,000, adding $5,149 every year, while hoping to spend $39,915 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: 31/46/23 Blend
58$1,010,000$1,010,000$1,010,000$1,010,000
59$1,118,331$1,064,801$1,049,146$1,144,912
60$1,189,932$1,074,507$1,041,823$1,175,271
61$1,267,498$1,083,351$1,032,917$1,204,003
62$1,351,596$1,091,248$1,022,333$1,234,112
63$1,442,848$1,098,109$1,009,971$1,265,746
64$1,541,940$1,103,838$995,726$1,299,067
65$1,649,625$1,108,333$979,490$1,334,258
66$1,766,731$1,111,486$961,148$1,371,522
67$1,894,171$1,113,182$940,580$1,411,087
68$2,032,948$1,113,299$917,660$1,453,207
69$2,184,165$1,111,708$892,259$1,498,166
70$2,349,038$1,108,270$864,238$1,546,279
71$2,528,904$1,102,839$833,454$1,597,900
72$2,725,235$1,095,260$799,757$1,653,420
73$2,939,650$1,085,369$762,990$1,713,276
74$3,173,934$1,072,992$722,989$1,777,955
75$3,430,049$1,057,942$679,584$1,847,997
76$3,710,158$1,040,025$632,593$1,924,004
77$4,016,641$1,019,033$581,832$2,006,645
78$4,352,118$994,746$527,103$2,096,662
79$4,719,476$966,931$468,203$2,194,881
80$5,121,893$935,341$404,919$2,302,217
81$5,562,869$899,715$337,026$2,419,688
82$6,046,259$859,779$264,294$2,548,423
83$6,576,308$815,238$186,478$2,689,672
84$7,157,691$765,785$103,325$2,844,824
85$7,795,560$711,093$14,571$3,015,418
86$8,495,587$650,816$0$3,203,160
87$9,264,020$584,589$0$3,429,609
88$10,107,742$512,026$0$3,682,283
89$11,034,336$432,720$0$3,959,997
90$12,052,154$346,239$0$4,265,396
91$13,170,398$252,128$0$4,601,402
92$14,399,203$149,907$0$4,971,245
93$15,749,738$39,069$0$5,378,496
94$17,234,304$0$0$5,827,098
95$18,866,456$0$0$6,362,369
96$20,661,127$0$0$6,972,857
97$22,634,768$0$0$7,644,402
98$24,805,506$0$0$8,383,195
99$27,193,312$0$0$9,196,055
100$29,820,189$0$0$10,090,497