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%14.3%
1 years$86,708$85,936$85,182$84,447$83,728$82,240
2 years$42,925$42,125$41,351$40,599$39,871$38,376
3 years$28,332$27,529$26,757$26,012$25,296$23,841
4 years$21,037$20,237$19,472$18,740$18,041$16,639
5 years$16,662$15,866$15,111$14,394$13,715$12,368
6 years$13,745$12,956$12,212$11,511$10,852$9,562
7 years$11,663$10,880$10,148$9,464$8,825$7,594
8 years$10,102$9,326$8,606$7,939$7,322$6,147
9 years$8,889$8,120$7,413$6,762$6,166$5,048
10 years$7,919$7,158$6,463$5,829$5,254$4,191
11 years$7,125$6,372$5,690$5,073$4,518$3,510
12 years$6,465$5,719$5,049$4,450$3,915$2,961
13 years$5,906$5,168$4,511$3,929$3,414$2,511
14 years$5,428$4,698$4,053$3,487$2,993$2,140
15 years$5,014$4,292$3,660$3,110$2,635$1,830
16 years$4,652$3,938$3,318$2,785$2,329$1,571
17 years$4,333$3,626$3,019$2,502$2,065$1,352
18 years$4,049$3,351$2,756$2,255$1,836$1,166
19 years$3,796$3,106$2,523$2,037$1,637$1,007
20 years$3,569$2,886$2,316$1,845$1,462$872
21 years$3,363$2,688$2,130$1,675$1,308$756
22 years$3,176$2,509$1,963$1,523$1,173$656
23 years$3,006$2,347$1,813$1,387$1,053$570
24 years$2,850$2,199$1,676$1,265$946$496
25 years$2,707$2,063$1,553$1,155$851$431
26 years$2,575$1,939$1,440$1,056$767$376
27 years$2,453$1,825$1,337$967$691$327
28 years$2,340$1,720$1,243$886$624$285
29 years$2,235$1,622$1,157$812$563$249
30 years$2,137$1,532$1,077$745$509$217
31 years$2,046$1,448$1,004$685$460$190
32 years$1,961$1,371$937$629$416$166
33 years$1,880$1,298$875$579$377$145
34 years$1,805$1,230$818$532$341$126
35 years$1,734$1,167$764$490$309$110
36 years$1,668$1,107$715$451$280$96
37 years$1,605$1,052$669$416$254$84
38 years$1,545$1,000$627$383$230$74
39 years$1,489$951$587$353$209$64
40 years$1,436$904$550$326$189$56
41 years$1,385$861$516$301$172$49
42 years$1,337$820$484$278$156$43
43 years$1,291$781$454$256$141$38
44 years$1,248$745$426$237$128$33
45 years$1,206$710$400$218$116$29
46 years$1,167$677$376$202$106$25
47 years$1,129$646$353$186$96$22
48 years$1,093$617$332$172$87$19
49 years$1,058$589$312$159$79$17
50 years$1,025$563$293$147$72$15

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 $3,307 every year, while hoping to spend $58,695 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: 76/8/16 Blend
58$1,050,000$1,050,000$1,050,000$1,050,000
59$1,160,511$1,104,861$1,088,586$1,244,384
60$1,216,432$1,096,548$1,062,603$1,291,941
61$1,276,090$1,085,861$1,033,782$1,336,414
62$1,339,804$1,072,621$1,001,966$1,383,580
63$1,407,923$1,056,639$966,991$1,433,688
64$1,480,832$1,037,714$928,686$1,487,016
65$1,558,950$1,015,636$886,870$1,543,867
66$1,642,740$990,178$841,357$1,604,579
67$1,732,706$961,104$791,949$1,669,523
68$1,829,404$928,160$738,442$1,739,110
69$1,933,445$891,082$680,621$1,813,792
70$2,045,497$849,585$618,263$1,894,070
71$2,166,296$803,373$551,133$1,980,495
72$2,296,649$752,130$478,987$2,073,678
73$2,437,444$695,521$401,570$2,174,293
74$2,589,657$633,195$318,615$2,283,081
75$2,754,358$564,777$229,845$2,400,865
76$2,932,726$489,875$134,969$2,528,549
77$3,126,057$408,071$33,682$2,667,134
78$3,335,774$318,926$0$2,817,724
79$3,563,444$221,975$0$2,994,240
80$3,810,791$116,727$0$3,192,287
81$4,079,709$2,665$0$3,407,652
82$4,372,284$0$0$3,642,035
83$4,690,809$0$0$3,907,939
84$5,037,810$0$0$4,197,906
85$5,416,063$0$0$4,514,028
86$5,828,626$0$0$4,858,864
87$6,278,865$0$0$5,235,233
88$6,770,484$0$0$5,646,234
89$7,307,559$0$0$6,095,284
90$7,894,581$0$0$6,586,141
91$8,536,491$0$0$7,122,943
92$9,238,730$0$0$7,710,246
93$10,007,291$0$0$8,353,069
94$10,848,771$0$0$9,056,936
95$11,770,434$0$0$9,827,930
96$12,780,283$0$0$10,672,752
97$13,887,128$0$0$11,598,780
98$15,100,674$0$0$12,614,142
99$16,431,608$0$0$13,727,788
100$17,891,704$0$0$14,949,576