Can I retire at age 59 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$86,708$85,936$85,182$84,447$83,728$82,923
2 years$42,925$42,125$41,351$40,599$39,871$39,059
3 years$28,332$27,529$26,757$26,012$25,296$24,504
4 years$21,037$20,237$19,472$18,740$18,041$17,274
5 years$16,662$15,866$15,111$14,394$13,715$12,975
6 years$13,745$12,956$12,212$11,511$10,852$10,141
7 years$11,663$10,880$10,148$9,464$8,825$8,144
8 years$10,102$9,326$8,606$7,939$7,322$6,668
9 years$8,889$8,120$7,413$6,762$6,166$5,541
10 years$7,919$7,158$6,463$5,829$5,254$4,657
11 years$7,125$6,372$5,690$5,073$4,518$3,950
12 years$6,465$5,719$5,049$4,450$3,915$3,374
13 years$5,906$5,168$4,511$3,929$3,414$2,899
14 years$5,428$4,698$4,053$3,487$2,993$2,504
15 years$5,014$4,292$3,660$3,110$2,635$2,171
16 years$4,652$3,938$3,318$2,785$2,329$1,889
17 years$4,333$3,626$3,019$2,502$2,065$1,649
18 years$4,049$3,351$2,756$2,255$1,836$1,443
19 years$3,796$3,106$2,523$2,037$1,637$1,265
20 years$3,569$2,886$2,316$1,845$1,462$1,111
21 years$3,363$2,688$2,130$1,675$1,308$978
22 years$3,176$2,509$1,963$1,523$1,173$862
23 years$3,006$2,347$1,813$1,387$1,053$760
24 years$2,850$2,199$1,676$1,265$946$672
25 years$2,707$2,063$1,553$1,155$851$594
26 years$2,575$1,939$1,440$1,056$767$525
27 years$2,453$1,825$1,337$967$691$465
28 years$2,340$1,720$1,243$886$624$412
29 years$2,235$1,622$1,157$812$563$365
30 years$2,137$1,532$1,077$745$509$324
31 years$2,046$1,448$1,004$685$460$288
32 years$1,961$1,371$937$629$416$255
33 years$1,880$1,298$875$579$377$227
34 years$1,805$1,230$818$532$341$201
35 years$1,734$1,167$764$490$309$179
36 years$1,668$1,107$715$451$280$159
37 years$1,605$1,052$669$416$254$141
38 years$1,545$1,000$627$383$230$126
39 years$1,489$951$587$353$209$112
40 years$1,436$904$550$326$189$99
41 years$1,385$861$516$301$172$88
42 years$1,337$820$484$278$156$79
43 years$1,291$781$454$256$141$70
44 years$1,248$745$426$237$128$62
45 years$1,206$710$400$218$116$55
46 years$1,167$677$376$202$106$49
47 years$1,129$646$353$186$96$44
48 years$1,093$617$332$172$87$39
49 years$1,058$589$312$159$79$35
50 years$1,025$563$293$147$72$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,050,000, adding $6,011 every year, while hoping to spend $31,342 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: 49/32/19 Blend
58$1,050,000$1,050,000$1,050,000$1,050,000
59$1,163,300$1,107,650$1,091,375$1,213,836
60$1,248,609$1,128,578$1,094,589$1,270,406
61$1,341,569$1,149,480$1,096,859$1,328,140
62$1,442,928$1,170,323$1,098,123$1,390,194
63$1,553,507$1,191,069$1,098,310$1,456,987
64$1,674,213$1,211,679$1,097,352$1,528,978
65$1,806,041$1,232,110$1,095,171$1,606,679
66$1,950,089$1,252,316$1,091,692$1,690,650
67$2,107,565$1,272,246$1,086,830$1,781,510
68$2,279,798$1,291,847$1,080,500$1,879,943
69$2,468,253$1,311,063$1,072,612$1,986,704
70$2,674,541$1,329,832$1,063,071$2,102,622
71$2,900,439$1,348,088$1,051,779$2,228,616
72$3,147,900$1,365,761$1,038,630$2,365,697
73$3,419,078$1,382,776$1,023,516$2,514,981
74$3,716,345$1,399,052$1,006,325$2,677,700
75$4,042,311$1,414,504$986,936$2,855,212
76$4,399,853$1,429,041$965,224$3,049,014
77$4,792,138$1,442,565$941,060$3,260,760
78$5,222,658$1,454,972$914,306$3,492,271
79$5,695,254$1,466,151$884,821$3,745,559
80$6,214,162$1,475,984$852,454$4,022,840
81$6,784,045$1,484,346$817,050$4,326,560
82$7,410,041$1,491,102$778,445$4,659,418
83$8,097,810$1,496,112$736,468$5,024,389
84$8,853,589$1,499,223$690,941$5,424,753
85$9,684,245$1,500,275$641,678$5,864,130
86$10,597,348$1,499,098$588,484$6,346,510
87$11,601,234$1,495,511$531,155$6,876,297
88$12,705,090$1,489,321$469,479$7,458,343
89$13,919,036$1,480,324$403,233$8,098,001
90$15,254,222$1,468,304$332,186$8,801,175
91$16,722,933$1,453,032$256,095$9,574,373
92$18,338,706$1,434,264$174,707$10,424,775
93$20,116,454$1,411,743$87,760$11,360,293
94$22,072,608$1,385,195$0$12,389,657
95$24,225,275$1,354,330$0$13,523,509
96$26,594,404$1,318,843$0$14,790,492
97$29,201,976$1,278,409$0$16,184,557
98$32,072,211$1,232,685$0$17,718,666
99$35,231,796$1,181,306$0$19,407,107
100$38,710,138$1,123,889$0$21,265,631