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%12.6%
1 years$84,231$83,480$82,748$82,034$81,336$80,453
2 years$41,698$40,922$40,169$39,439$38,732$37,843
3 years$27,523$26,743$25,992$25,269$24,573$23,705
4 years$20,436$19,659$18,916$18,205$17,526$16,686
5 years$16,186$15,413$14,679$13,983$13,323$12,514
6 years$13,353$12,586$11,863$11,182$10,542$9,765
7 years$11,330$10,569$9,858$9,194$8,573$7,828
8 years$9,814$9,060$8,361$7,712$7,112$6,399
9 years$8,635$7,888$7,201$6,569$5,990$5,308
10 years$7,692$6,953$6,278$5,663$5,103$4,453
11 years$6,922$6,190$5,527$4,928$4,389$3,770
12 years$6,280$5,556$4,905$4,323$3,804$3,214
13 years$5,738$5,021$4,382$3,816$3,317$2,757
14 years$5,273$4,564$3,938$3,388$2,907$2,376
15 years$4,871$4,169$3,555$3,021$2,560$2,056
16 years$4,519$3,825$3,223$2,705$2,262$1,785
17 years$4,209$3,523$2,933$2,431$2,006$1,555
18 years$3,934$3,255$2,677$2,190$1,784$1,358
19 years$3,688$3,017$2,451$1,979$1,590$1,188
20 years$3,467$2,803$2,249$1,793$1,420$1,041
21 years$3,267$2,611$2,069$1,627$1,271$914
22 years$3,085$2,438$1,907$1,479$1,139$804
23 years$2,920$2,280$1,761$1,347$1,023$708
24 years$2,769$2,136$1,628$1,229$919$624
25 years$2,630$2,005$1,508$1,122$827$550
26 years$2,502$1,884$1,399$1,026$745$486
27 years$2,383$1,773$1,299$939$672$429
28 years$2,273$1,671$1,208$860$606$379
29 years$2,171$1,576$1,124$789$547$335
30 years$2,076$1,488$1,047$724$494$297
31 years$1,988$1,407$976$665$447$263
32 years$1,905$1,331$910$611$404$233
33 years$1,827$1,261$850$562$366$206
34 years$1,754$1,195$794$517$331$183
35 years$1,685$1,133$743$476$300$162
36 years$1,620$1,076$695$438$272$143
37 years$1,559$1,022$650$404$246$127
38 years$1,501$971$609$372$223$113
39 years$1,446$923$570$343$203$100
40 years$1,395$879$535$317$184$89
41 years$1,345$836$501$292$167$79
42 years$1,299$796$470$270$151$70
43 years$1,254$759$441$249$137$62
44 years$1,212$723$414$230$125$55
45 years$1,172$690$389$212$113$49
46 years$1,133$658$365$196$103$43
47 years$1,097$628$343$181$93$38
48 years$1,061$599$323$167$85$34
49 years$1,028$572$303$155$77$30
50 years$996$547$285$143$70$27

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 $5,721 every year, while hoping to spend $58,182 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: 65/18/17 Blend
58$1,020,000$1,020,000$1,020,000$1,020,000
59$1,129,941$1,075,881$1,060,071$1,198,297
60$1,183,290$1,066,694$1,033,678$1,235,619
61$1,240,130$1,055,107$1,004,451$1,269,168
62$1,300,757$1,040,941$972,234$1,304,422
63$1,365,493$1,024,005$936,862$1,341,548
64$1,434,691$1,004,100$898,166$1,380,730
65$1,508,741$981,012$855,965$1,422,176
66$1,588,066$954,515$810,073$1,466,115
67$1,673,134$924,371$760,296$1,512,801
68$1,764,455$890,327$706,428$1,562,519
69$1,862,593$852,116$648,256$1,615,581
70$1,968,162$809,455$585,558$1,672,337
71$2,081,841$762,044$518,100$1,733,176
72$2,204,372$709,567$445,639$1,798,527
73$2,336,571$651,690$367,922$1,868,868
74$2,479,337$588,059$284,683$1,944,727
75$2,633,655$518,299$195,645$2,026,692
76$2,800,608$442,015$100,519$2,115,415
77$2,981,387$358,791$0$2,211,616
78$3,177,302$268,186$0$2,316,276
79$3,389,793$169,732$0$2,449,569
80$3,620,442$62,940$0$2,594,285
81$3,870,991$0$0$2,751,572
82$4,143,357$0$0$2,933,140
83$4,439,645$0$0$3,144,277
84$4,762,176$0$0$3,374,177
85$5,113,499$0$0$3,624,665
86$5,496,424$0$0$3,897,753
87$5,914,039$0$0$4,195,652
88$6,369,746$0$0$4,520,797
89$6,867,289$0$0$4,875,868
90$7,410,787$0$0$5,263,815
91$8,004,777$0$0$5,687,888
92$8,654,254$0$0$6,151,662
93$9,364,717$0$0$6,659,074
94$10,142,221$0$0$7,214,460
95$10,993,433$0$0$7,822,595
96$11,925,694$0$0$8,488,736
97$12,947,091$0$0$9,218,673
98$14,066,526$0$0$10,018,782
99$15,293,808$0$0$10,896,086
100$16,639,736$0$0$11,858,319