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%12.5%
1 years$83,405$82,662$81,937$81,230$80,539$79,698
2 years$41,290$40,521$39,775$39,053$38,352$37,505
3 years$27,253$26,481$25,737$25,021$24,332$23,505
4 years$20,236$19,466$18,730$18,027$17,354$16,554
5 years$16,027$15,262$14,535$13,846$13,192$12,421
6 years$13,222$12,462$11,747$11,073$10,438$9,698
7 years$11,219$10,466$9,762$9,104$8,489$7,779
8 years$9,717$8,971$8,279$7,637$7,043$6,362
9 years$8,550$7,811$7,130$6,505$5,931$5,281
10 years$7,617$6,885$6,216$5,607$5,053$4,433
11 years$6,854$6,129$5,473$4,880$4,346$3,755
12 years$6,219$5,501$4,857$4,280$3,766$3,203
13 years$5,681$4,972$4,339$3,779$3,284$2,749
14 years$5,221$4,519$3,899$3,355$2,879$2,371
15 years$4,823$4,128$3,520$2,992$2,535$2,053
16 years$4,475$3,788$3,192$2,679$2,240$1,784
17 years$4,168$3,488$2,904$2,407$1,986$1,555
18 years$3,895$3,223$2,651$2,169$1,766$1,359
19 years$3,652$2,987$2,427$1,960$1,574$1,190
20 years$3,433$2,776$2,227$1,775$1,406$1,044
21 years$3,235$2,586$2,049$1,611$1,258$917
22 years$3,055$2,414$1,888$1,465$1,128$807
23 years$2,891$2,257$1,743$1,334$1,013$711
24 years$2,742$2,115$1,612$1,217$910$627
25 years$2,604$1,985$1,493$1,111$819$553
26 years$2,477$1,865$1,385$1,016$738$489
27 years$2,360$1,756$1,286$930$665$432
28 years$2,251$1,654$1,196$852$600$382
29 years$2,150$1,561$1,113$781$542$338
30 years$2,056$1,474$1,036$717$490$300
31 years$1,968$1,393$966$659$443$265
32 years$1,886$1,318$901$605$400$235
33 years$1,809$1,248$842$557$362$209
34 years$1,736$1,183$786$512$328$185
35 years$1,668$1,122$735$471$297$164
36 years$1,604$1,065$688$434$269$146
37 years$1,544$1,012$644$400$244$129
38 years$1,486$962$603$369$221$115
39 years$1,432$914$565$340$201$102
40 years$1,381$870$529$314$182$90
41 years$1,332$828$496$289$165$80
42 years$1,286$789$466$267$150$71
43 years$1,242$751$437$246$136$63
44 years$1,200$716$410$228$123$56
45 years$1,160$683$385$210$112$50
46 years$1,122$652$362$194$102$44
47 years$1,086$622$340$179$92$39
48 years$1,051$594$319$166$84$35
49 years$1,018$567$300$153$76$31
50 years$986$541$282$142$69$28

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 $6,945 every year, while hoping to spend $43,886 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: 54/38/8 Blend
58$1,010,000$1,010,000$1,010,000$1,010,000
59$1,120,184$1,066,654$1,050,999$1,178,138
60$1,187,748$1,072,225$1,039,513$1,223,729
61$1,260,733$1,076,599$1,026,171$1,267,914
62$1,339,646$1,079,670$1,010,866$1,314,948
63$1,425,042$1,081,327$993,482$1,365,108
64$1,517,535$1,081,450$973,902$1,418,702
65$1,617,796$1,079,914$952,001$1,476,070
66$1,726,567$1,076,585$927,648$1,537,588
67$1,844,661$1,071,322$900,709$1,603,673
68$1,972,972$1,063,973$871,039$1,674,786
69$2,112,487$1,054,379$838,490$1,751,436
70$2,264,287$1,042,370$802,906$1,834,189
71$2,429,565$1,027,767$764,124$1,923,669
72$2,609,633$1,010,380$721,975$2,020,566
73$2,805,934$990,007$676,279$2,125,644
74$3,020,056$966,434$626,851$2,239,749
75$3,253,748$939,436$573,497$2,363,814
76$3,508,935$908,772$516,013$2,498,873
77$3,787,734$874,190$454,188$2,646,069
78$4,092,479$835,422$387,799$2,806,664
79$4,425,738$792,183$316,616$2,982,055
80$4,790,337$744,174$240,397$3,173,784
81$5,189,390$691,078$158,889$3,383,557
82$5,626,326$632,558$71,830$3,613,260
83$6,104,919$568,262$0$3,864,973
84$6,629,327$497,813$0$4,142,799
85$7,204,129$420,815$0$4,454,140
86$7,834,366$336,852$0$4,795,691
87$8,525,593$245,479$0$5,170,583
88$9,283,927$146,231$0$5,582,269
89$10,116,106$38,615$0$6,034,562
90$11,029,552$0$0$6,531,671
91$12,032,440$0$0$7,110,813
92$13,133,775$0$0$7,764,637
93$14,343,478$0$0$8,482,901
94$15,672,478$0$0$9,272,104
95$17,132,813$0$0$10,139,411
96$18,737,748$0$0$11,092,712
97$20,501,894$0$0$12,140,701
98$22,441,348$0$0$13,292,956
99$24,573,848$0$0$14,560,028
100$26,918,932$0$0$15,953,544