Can I retire at age 59 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$84,231$83,480$82,748$82,034$81,336$79,081
2 years$41,698$40,922$40,169$39,439$38,732$36,477
3 years$27,523$26,743$25,992$25,269$24,573$22,389
4 years$20,436$19,659$18,916$18,205$17,526$15,429
5 years$16,186$15,413$14,679$13,983$13,323$11,319
6 years$13,353$12,586$11,863$11,182$10,542$8,633
7 years$11,330$10,569$9,858$9,194$8,573$6,759
8 years$9,814$9,060$8,361$7,712$7,112$5,393
9 years$8,635$7,888$7,201$6,569$5,990$4,362
10 years$7,692$6,953$6,278$5,663$5,103$3,566
11 years$6,922$6,190$5,527$4,928$4,389$2,940
12 years$6,280$5,556$4,905$4,323$3,804$2,439
13 years$5,738$5,021$4,382$3,816$3,317$2,035
14 years$5,273$4,564$3,938$3,388$2,907$1,705
15 years$4,871$4,169$3,555$3,021$2,560$1,433
16 years$4,519$3,825$3,223$2,705$2,262$1,208
17 years$4,209$3,523$2,933$2,431$2,006$1,021
18 years$3,934$3,255$2,677$2,190$1,784$865
19 years$3,688$3,017$2,451$1,979$1,590$733
20 years$3,467$2,803$2,249$1,793$1,420$623
21 years$3,267$2,611$2,069$1,627$1,271$530
22 years$3,085$2,438$1,907$1,479$1,139$451
23 years$2,920$2,280$1,761$1,347$1,023$384
24 years$2,769$2,136$1,628$1,229$919$328
25 years$2,630$2,005$1,508$1,122$827$279
26 years$2,502$1,884$1,399$1,026$745$239
27 years$2,383$1,773$1,299$939$672$204
28 years$2,273$1,671$1,208$860$606$174
29 years$2,171$1,576$1,124$789$547$149
30 years$2,076$1,488$1,047$724$494$127
31 years$1,988$1,407$976$665$447$109
32 years$1,905$1,331$910$611$404$93
33 years$1,827$1,261$850$562$366$79
34 years$1,754$1,195$794$517$331$68
35 years$1,685$1,133$743$476$300$58
36 years$1,620$1,076$695$438$272$50
37 years$1,559$1,022$650$404$246$43
38 years$1,501$971$609$372$223$36
39 years$1,446$923$570$343$203$31
40 years$1,395$879$535$317$184$27
41 years$1,345$836$501$292$167$23
42 years$1,299$796$470$270$151$20
43 years$1,254$759$441$249$137$17
44 years$1,212$723$414$230$125$14
45 years$1,172$690$389$212$113$12
46 years$1,133$658$365$196$103$11
47 years$1,097$628$343$181$93$9
48 years$1,061$599$323$167$85$8
49 years$1,028$572$303$155$77$7
50 years$996$547$285$143$70$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,020,000, adding $2,118 every year, while hoping to spend $46,517 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: 27/47/26 Blend
58$1,020,000$1,020,000$1,020,000$1,020,000
59$1,126,225$1,072,165$1,056,355$1,147,430
60$1,191,606$1,075,207$1,042,249$1,167,656
61$1,262,097$1,076,839$1,026,111$1,185,191
62$1,338,170$1,076,944$1,007,825$1,203,059
63$1,420,343$1,075,394$987,268$1,221,319
64$1,509,188$1,072,058$964,310$1,240,042
65$1,605,329$1,066,793$938,819$1,259,306
66$1,709,456$1,059,449$910,653$1,279,207
67$1,822,326$1,049,868$879,665$1,299,852
68$1,944,772$1,037,880$845,703$1,321,363
69$2,077,710$1,023,307$808,604$1,343,881
70$2,222,146$1,005,958$768,202$1,367,569
71$2,379,188$985,634$724,321$1,392,610
72$2,550,056$962,120$676,776$1,419,211
73$2,736,090$935,193$625,377$1,447,610
74$2,938,767$904,613$569,922$1,478,075
75$3,159,710$870,127$510,203$1,510,908
76$3,400,706$831,470$446,001$1,546,450
77$3,663,724$788,357$377,088$1,585,086
78$3,950,927$740,491$303,224$1,627,250
79$4,264,701$687,554$224,161$1,673,427
80$4,607,670$629,213$139,640$1,724,165
81$4,982,722$565,114$49,387$1,780,076
82$5,393,039$494,885$0$1,841,846
83$5,842,124$418,129$0$1,923,262
84$6,333,834$334,431$0$2,027,634
85$6,872,417$243,349$0$2,142,290
86$7,462,550$144,420$0$2,268,394
87$8,109,384$37,151$0$2,407,235
88$8,818,594$0$0$2,560,245
89$9,596,427$0$0$2,769,858
90$10,449,768$0$0$3,021,069
91$11,386,196$0$0$3,296,916
92$12,414,062$0$0$3,599,883
93$13,542,564$0$0$3,932,703
94$14,781,835$0$0$4,298,388
95$16,143,037$0$0$4,700,257
96$17,638,464$0$0$5,141,963
97$19,281,664$0$0$5,627,536
98$21,087,559$0$0$6,161,412
99$23,072,588$0$0$6,748,479
100$25,254,865$0$0$7,394,122