Can I retire at age 59 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$87,534$86,754$85,993$85,251$84,526$82,183
2 years$43,334$42,527$41,744$40,986$40,250$37,907
3 years$28,602$27,792$27,011$26,260$25,537$23,267
4 years$21,238$20,430$19,657$18,919$18,213$16,034
5 years$16,820$16,017$15,255$14,532$13,845$11,763
6 years$13,876$13,079$12,328$11,621$10,955$8,971
7 years$11,774$10,984$10,245$9,554$8,909$7,024
8 years$10,199$9,415$8,688$8,015$7,391$5,604
9 years$8,974$8,198$7,483$6,827$6,225$4,533
10 years$7,994$7,226$6,524$5,885$5,304$3,706
11 years$7,193$6,433$5,744$5,122$4,561$3,055
12 years$6,526$5,774$5,097$4,492$3,953$2,535
13 years$5,963$5,218$4,554$3,966$3,447$2,115
14 years$5,480$4,743$4,092$3,521$3,021$1,771
15 years$5,062$4,333$3,695$3,140$2,660$1,489
16 years$4,696$3,975$3,350$2,811$2,351$1,255
17 years$4,374$3,661$3,048$2,526$2,085$1,061
18 years$4,088$3,383$2,782$2,276$1,854$898
19 years$3,832$3,135$2,547$2,057$1,652$762
20 years$3,603$2,913$2,338$1,863$1,476$647
21 years$3,395$2,714$2,150$1,691$1,321$551
22 years$3,206$2,533$1,982$1,537$1,184$469
23 years$3,035$2,369$1,830$1,400$1,063$399
24 years$2,877$2,220$1,692$1,277$955$340
25 years$2,733$2,083$1,567$1,166$859$290
26 years$2,600$1,958$1,454$1,066$774$248
27 years$2,477$1,843$1,350$976$698$212
28 years$2,363$1,736$1,255$894$630$181
29 years$2,256$1,638$1,168$820$569$155
30 years$2,158$1,547$1,088$753$514$132
31 years$2,065$1,462$1,014$691$465$113
32 years$1,979$1,384$946$635$420$97
33 years$1,898$1,310$883$584$380$83
34 years$1,822$1,242$825$537$344$71
35 years$1,751$1,178$772$495$312$60
36 years$1,684$1,118$722$456$283$52
37 years$1,620$1,062$676$420$256$44
38 years$1,560$1,009$633$387$232$38
39 years$1,503$960$593$357$211$32
40 years$1,449$913$556$329$191$28
41 years$1,398$869$521$304$173$24
42 years$1,350$828$489$280$157$20
43 years$1,303$789$459$259$143$17
44 years$1,259$752$430$239$130$15
45 years$1,218$717$404$221$118$13
46 years$1,178$684$380$204$107$11
47 years$1,140$653$357$188$97$9
48 years$1,103$623$335$174$88$8
49 years$1,068$595$315$161$80$7
50 years$1,035$568$296$149$73$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,060,000, adding $6,891 every year, while hoping to spend $28,246 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: 47/48/5 Blend
58$1,060,000$1,060,000$1,060,000$1,060,000
59$1,175,228$1,119,048$1,102,618$1,228,619
60$1,265,048$1,143,828$1,109,502$1,290,691
61$1,363,082$1,168,875$1,115,670$1,354,466
62$1,470,140$1,194,173$1,121,069$1,423,004
63$1,587,110$1,219,704$1,125,640$1,496,753
64$1,714,973$1,245,446$1,129,326$1,576,206
65$1,854,805$1,271,379$1,132,064$1,661,908
66$2,007,795$1,297,476$1,133,788$1,754,459
67$2,175,250$1,323,712$1,134,429$1,854,517
68$2,358,609$1,350,057$1,133,916$1,962,810
69$2,559,457$1,376,480$1,132,172$2,080,141
70$2,779,540$1,402,946$1,129,119$2,207,390
71$3,020,780$1,429,418$1,124,672$2,345,532
72$3,285,296$1,455,855$1,118,744$2,495,639
73$3,575,419$1,482,215$1,111,245$2,658,890
74$3,893,717$1,508,449$1,102,077$2,836,589
75$4,243,021$1,534,507$1,091,141$3,030,170
76$4,626,446$1,560,335$1,078,331$3,241,214
77$5,047,425$1,585,873$1,063,537$3,471,464
78$5,509,740$1,611,059$1,046,643$3,722,842
79$6,017,557$1,635,824$1,027,529$3,997,463
80$6,575,465$1,660,096$1,006,069$4,297,664
81$7,188,519$1,683,798$982,129$4,626,015
82$7,862,289$1,706,845$955,571$4,985,352
83$8,602,910$1,729,148$926,250$5,378,801
84$9,417,143$1,750,612$894,016$5,809,808
85$10,312,435$1,771,135$858,708$6,282,171
86$11,296,991$1,790,609$820,162$6,800,075
87$12,379,851$1,808,916$778,205$7,368,137
88$13,570,976$1,825,933$732,655$7,991,443
89$14,881,339$1,841,527$683,323$8,675,600
90$16,323,033$1,855,559$630,011$9,426,792
91$17,909,379$1,867,878$572,513$10,251,831
92$19,655,056$1,878,325$510,613$11,158,229
93$21,576,238$1,886,729$444,085$12,154,267
94$23,690,746$1,892,911$372,694$13,249,072
95$26,018,217$1,896,678$296,194$14,452,704
96$28,580,287$1,897,827$214,328$15,776,256
97$31,400,796$1,896,141$126,828$17,231,951
98$34,506,015$1,891,390$33,415$18,833,267
99$37,924,890$1,883,329$0$20,595,058
100$41,689,317$1,871,701$0$22,537,234