Can I retire at age 59 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$85,056$84,299$83,560$82,838$82,134$80,508
2 years$42,107$41,323$40,563$39,826$39,111$37,481
3 years$27,793$27,005$26,247$25,517$24,814$23,229
4 years$20,637$19,852$19,101$18,384$17,697$16,170
5 years$16,344$15,564$14,823$14,120$13,453$11,988
6 years$13,484$12,709$11,979$11,292$10,645$9,244
7 years$11,441$10,673$9,955$9,284$8,657$7,320
8 years$9,910$9,149$8,443$7,788$7,182$5,908
9 years$8,720$7,966$7,272$6,634$6,048$4,837
10 years$7,768$7,021$6,339$5,718$5,154$4,004
11 years$6,990$6,251$5,581$4,977$4,432$3,343
12 years$6,342$5,610$4,953$4,365$3,841$2,810
13 years$5,794$5,070$4,425$3,854$3,349$2,376
14 years$5,325$4,609$3,976$3,421$2,936$2,018
15 years$4,918$4,210$3,590$3,051$2,585$1,720
16 years$4,563$3,863$3,255$2,732$2,285$1,471
17 years$4,250$3,557$2,962$2,454$2,026$1,261
18 years$3,972$3,287$2,704$2,212$1,801$1,084
19 years$3,724$3,046$2,475$1,999$1,605$933
20 years$3,501$2,831$2,272$1,810$1,434$805
21 years$3,299$2,637$2,089$1,643$1,283$695
22 years$3,116$2,461$1,926$1,494$1,150$601
23 years$2,949$2,302$1,778$1,360$1,033$520
24 years$2,796$2,157$1,644$1,241$928$450
25 years$2,655$2,024$1,523$1,133$835$390
26 years$2,526$1,902$1,413$1,036$752$339
27 years$2,407$1,790$1,312$948$678$294
28 years$2,296$1,687$1,219$869$612$255
29 years$2,193$1,592$1,135$797$553$222
30 years$2,097$1,503$1,057$731$499$193
31 years$2,007$1,421$985$672$451$167
32 years$1,923$1,344$919$617$408$146
33 years$1,845$1,273$858$568$370$127
34 years$1,771$1,207$802$522$335$110
35 years$1,701$1,145$750$481$303$96
36 years$1,636$1,086$701$443$275$83
37 years$1,574$1,032$657$408$249$73
38 years$1,516$981$615$376$226$63
39 years$1,461$932$576$347$205$55
40 years$1,408$887$540$320$186$48
41 years$1,359$844$506$295$168$42
42 years$1,311$804$475$272$153$36
43 years$1,266$766$446$251$139$32
44 years$1,224$730$418$232$126$28
45 years$1,183$697$393$214$114$24
46 years$1,144$664$369$198$104$21
47 years$1,107$634$347$183$94$18
48 years$1,072$605$326$169$86$16
49 years$1,038$578$306$156$78$14
50 years$1,006$552$288$144$71$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,030,000, adding $3,408 every year, while hoping to spend $28,375 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: 51/26/23 Blend
58$1,030,000$1,030,000$1,030,000$1,030,000
59$1,138,575$1,083,985$1,068,020$1,189,167
60$1,224,519$1,106,910$1,073,608$1,247,493
61$1,318,278$1,130,007$1,078,432$1,307,702
62$1,420,620$1,153,254$1,082,437$1,372,584
63$1,532,389$1,176,629$1,085,564$1,442,592
64$1,654,514$1,200,106$1,087,752$1,518,228
65$1,788,019$1,223,656$1,088,937$1,600,043
66$1,934,032$1,247,249$1,089,051$1,688,647
67$2,093,792$1,270,854$1,088,023$1,784,712
68$2,268,666$1,294,433$1,085,779$1,888,978
69$2,460,159$1,317,948$1,082,241$2,002,262
70$2,669,926$1,341,359$1,077,328$2,125,464
71$2,899,793$1,364,620$1,070,953$2,259,577
72$3,151,769$1,387,684$1,063,026$2,405,695
73$3,428,067$1,410,497$1,053,455$2,565,027
74$3,731,123$1,433,005$1,042,139$2,738,903
75$4,063,624$1,455,148$1,028,977$2,928,792
76$4,428,525$1,476,862$1,013,859$3,136,312
77$4,829,083$1,498,078$996,672$3,363,248
78$5,268,888$1,518,722$977,299$3,611,569
79$5,751,891$1,538,715$955,615$3,883,445
80$6,282,445$1,557,974$931,490$4,181,269
81$6,865,348$1,576,408$904,788$4,507,681
82$7,505,883$1,593,921$875,368$4,865,590
83$8,209,871$1,610,411$843,080$5,258,204
84$8,983,725$1,625,768$807,770$5,689,061
85$9,834,510$1,639,876$769,276$6,162,062
86$10,770,010$1,652,610$727,427$6,681,507
87$11,798,801$1,663,838$682,046$7,252,137
88$12,930,332$1,673,419$632,947$7,879,182
89$14,175,012$1,681,203$579,937$8,568,404
90$15,544,312$1,687,031$522,814$9,326,158
91$17,050,870$1,690,733$461,366$10,159,451
92$18,708,609$1,692,129$395,372$11,076,008
93$20,532,871$1,691,028$324,602$12,084,343
94$22,540,562$1,687,227$248,814$13,193,845
95$24,750,308$1,680,509$167,757$14,414,865
96$27,182,631$1,670,647$81,170$15,758,811
97$29,860,148$1,657,396$0$17,238,263
98$32,807,775$1,640,500$0$18,869,844
99$36,052,969$1,619,686$0$20,687,521
100$39,625,986$1,594,665$0$22,688,276