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%15.5%
1 years$85,056$84,299$83,560$82,838$82,134$80,279
2 years$42,107$41,323$40,563$39,826$39,111$37,252
3 years$27,793$27,005$26,247$25,517$24,814$23,009
4 years$20,637$19,852$19,101$18,384$17,697$15,961
5 years$16,344$15,564$14,823$14,120$13,453$11,789
6 years$13,484$12,709$11,979$11,292$10,645$9,056
7 years$11,441$10,673$9,955$9,284$8,657$7,143
8 years$9,910$9,149$8,443$7,788$7,182$5,742
9 years$8,720$7,966$7,272$6,634$6,048$4,681
10 years$7,768$7,021$6,339$5,718$5,154$3,858
11 years$6,990$6,251$5,581$4,977$4,432$3,207
12 years$6,342$5,610$4,953$4,365$3,841$2,684
13 years$5,794$5,070$4,425$3,854$3,349$2,258
14 years$5,325$4,609$3,976$3,421$2,936$1,909
15 years$4,918$4,210$3,590$3,051$2,585$1,619
16 years$4,563$3,863$3,255$2,732$2,285$1,378
17 years$4,250$3,557$2,962$2,454$2,026$1,176
18 years$3,972$3,287$2,704$2,212$1,801$1,005
19 years$3,724$3,046$2,475$1,999$1,605$861
20 years$3,501$2,831$2,272$1,810$1,434$738
21 years$3,299$2,637$2,089$1,643$1,283$634
22 years$3,116$2,461$1,926$1,494$1,150$545
23 years$2,949$2,302$1,778$1,360$1,033$469
24 years$2,796$2,157$1,644$1,241$928$404
25 years$2,655$2,024$1,523$1,133$835$349
26 years$2,526$1,902$1,413$1,036$752$301
27 years$2,407$1,790$1,312$948$678$260
28 years$2,296$1,687$1,219$869$612$224
29 years$2,193$1,592$1,135$797$553$194
30 years$2,097$1,503$1,057$731$499$167
31 years$2,007$1,421$985$672$451$145
32 years$1,923$1,344$919$617$408$125
33 years$1,845$1,273$858$568$370$108
34 years$1,771$1,207$802$522$335$93
35 years$1,701$1,145$750$481$303$81
36 years$1,636$1,086$701$443$275$70
37 years$1,574$1,032$657$408$249$60
38 years$1,516$981$615$376$226$52
39 years$1,461$932$576$347$205$45
40 years$1,408$887$540$320$186$39
41 years$1,359$844$506$295$168$34
42 years$1,311$804$475$272$153$29
43 years$1,266$766$446$251$139$25
44 years$1,224$730$418$232$126$22
45 years$1,183$697$393$214$114$19
46 years$1,144$664$369$198$104$16
47 years$1,107$634$347$183$94$14
48 years$1,072$605$326$169$86$12
49 years$1,038$578$306$156$78$11
50 years$1,006$552$288$144$71$9

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 $3,843 every year, while hoping to spend $31,809 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: 36/34/30 Blend
58$1,030,000$1,030,000$1,030,000$1,030,000
59$1,139,024$1,084,434$1,068,469$1,169,675
60$1,221,360$1,103,727$1,070,418$1,212,223
61$1,311,028$1,122,899$1,071,367$1,254,996
62$1,408,743$1,141,910$1,071,247$1,300,574
63$1,515,290$1,160,719$1,069,989$1,349,234
64$1,631,535$1,179,280$1,067,519$1,401,279
65$1,758,429$1,197,543$1,063,759$1,457,045
66$1,897,023$1,215,456$1,058,629$1,516,905
67$2,048,468$1,232,963$1,052,042$1,581,270
68$2,214,037$1,250,003$1,043,910$1,650,594
69$2,395,127$1,266,511$1,034,140$1,725,382
70$2,593,279$1,282,419$1,022,632$1,806,188
71$2,810,189$1,297,653$1,009,286$1,893,628
72$3,047,724$1,312,134$993,993$1,988,381
73$3,307,940$1,325,777$976,640$2,091,198
74$3,593,104$1,338,494$957,111$2,202,910
75$3,905,708$1,350,188$935,282$2,324,433
76$4,248,500$1,360,757$911,024$2,456,782
77$4,624,506$1,370,093$884,203$2,601,076
78$5,037,059$1,378,081$854,676$2,758,552
79$5,489,828$1,384,596$822,297$2,930,578
80$5,986,859$1,389,509$786,912$3,118,663
81$6,532,604$1,392,680$748,359$3,324,474
82$7,131,970$1,393,962$706,470$3,549,854
83$7,790,362$1,393,198$661,068$3,796,835
84$8,513,735$1,390,220$611,969$4,067,665
85$9,308,647$1,384,853$558,982$4,364,822
86$10,182,326$1,376,907$501,904$4,691,044
87$11,142,732$1,366,184$440,527$5,049,353
88$12,198,636$1,352,473$374,630$5,443,086
89$13,359,703$1,335,549$303,986$5,875,926
90$14,636,577$1,315,176$228,354$6,351,938
91$16,040,989$1,291,101$147,485$6,875,608
92$17,585,863$1,263,058$61,119$7,451,887
93$19,285,438$1,230,765$0$8,086,241
94$21,155,403$1,193,922$0$8,794,636
95$23,213,043$1,152,214$0$9,595,313
96$25,477,407$1,105,306$0$10,476,123
97$27,969,480$1,052,843$0$11,445,264
98$30,712,385$994,451$0$12,511,775
99$33,731,603$929,733$0$13,685,622
100$37,055,207$858,271$0$14,977,793