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%18.3%
1 years$87,534$86,754$85,993$85,251$84,526$81,689
2 years$43,334$42,527$41,744$40,986$40,250$37,421
3 years$28,602$27,792$27,011$26,260$25,537$22,802
4 years$21,238$20,430$19,657$18,919$18,213$15,595
5 years$16,820$16,017$15,255$14,532$13,845$11,351
6 years$13,876$13,079$12,328$11,621$10,955$8,587
7 years$11,774$10,984$10,245$9,554$8,909$6,666
8 years$10,199$9,415$8,688$8,015$7,391$5,271
9 years$8,974$8,198$7,483$6,827$6,225$4,225
10 years$7,994$7,226$6,524$5,885$5,304$3,422
11 years$7,193$6,433$5,744$5,122$4,561$2,794
12 years$6,526$5,774$5,097$4,492$3,953$2,295
13 years$5,963$5,218$4,554$3,966$3,447$1,895
14 years$5,480$4,743$4,092$3,521$3,021$1,571
15 years$5,062$4,333$3,695$3,140$2,660$1,307
16 years$4,696$3,975$3,350$2,811$2,351$1,090
17 years$4,374$3,661$3,048$2,526$2,085$911
18 years$4,088$3,383$2,782$2,276$1,854$763
19 years$3,832$3,135$2,547$2,057$1,652$640
20 years$3,603$2,913$2,338$1,863$1,476$537
21 years$3,395$2,714$2,150$1,691$1,321$452
22 years$3,206$2,533$1,982$1,537$1,184$380
23 years$3,035$2,369$1,830$1,400$1,063$320
24 years$2,877$2,220$1,692$1,277$955$270
25 years$2,733$2,083$1,567$1,166$859$227
26 years$2,600$1,958$1,454$1,066$774$192
27 years$2,477$1,843$1,350$976$698$162
28 years$2,363$1,736$1,255$894$630$136
29 years$2,256$1,638$1,168$820$569$115
30 years$2,158$1,547$1,088$753$514$97
31 years$2,065$1,462$1,014$691$465$82
32 years$1,979$1,384$946$635$420$69
33 years$1,898$1,310$883$584$380$59
34 years$1,822$1,242$825$537$344$49
35 years$1,751$1,178$772$495$312$42
36 years$1,684$1,118$722$456$283$35
37 years$1,620$1,062$676$420$256$30
38 years$1,560$1,009$633$387$232$25
39 years$1,503$960$593$357$211$21
40 years$1,449$913$556$329$191$18
41 years$1,398$869$521$304$173$15
42 years$1,350$828$489$280$157$13
43 years$1,303$789$459$259$143$11
44 years$1,259$752$430$239$130$9
45 years$1,218$717$404$221$118$8
46 years$1,178$684$380$204$107$7
47 years$1,140$653$357$188$97$6
48 years$1,103$623$335$174$88$5
49 years$1,068$595$315$161$80$4
50 years$1,035$568$296$149$73$3

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 $5,035 every year, while hoping to spend $46,851 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: 64/17/19 Blend
58$1,060,000$1,060,000$1,060,000$1,060,000
59$1,173,314$1,117,134$1,100,704$1,242,457
60$1,243,142$1,122,024$1,087,728$1,294,432
61$1,318,524$1,125,584$1,072,748$1,345,416
62$1,399,974$1,127,698$1,055,646$1,400,010
63$1,488,062$1,128,246$1,036,300$1,458,569
64$1,583,411$1,127,097$1,014,583$1,521,485
65$1,686,708$1,124,114$990,361$1,589,192
66$1,798,708$1,119,151$963,493$1,662,169
67$1,920,240$1,112,053$933,834$1,740,945
68$2,052,218$1,102,657$901,231$1,826,104
69$2,195,645$1,090,788$865,523$1,918,293
70$2,351,625$1,076,262$826,543$2,018,224
71$2,521,375$1,058,882$784,116$2,126,686
72$2,706,230$1,038,443$738,059$2,244,549
73$2,907,662$1,014,723$688,181$2,372,773
74$3,127,291$987,491$634,282$2,512,420
75$3,366,897$956,501$576,153$2,664,662
76$3,628,443$921,492$513,576$2,830,795
77$3,914,088$882,189$446,324$3,012,245
78$4,226,207$838,299$374,159$3,210,592
79$4,567,419$789,514$296,832$3,427,578
80$4,940,604$735,508$214,084$3,665,124
81$5,348,934$675,936$125,644$3,925,354
82$5,795,902$610,434$31,230$4,210,612
83$6,285,353$538,615$0$4,523,483
84$6,821,525$460,072$0$4,880,916
85$7,409,080$374,376$0$5,279,640
86$8,053,157$281,071$0$5,716,859
87$8,759,412$179,676$0$6,196,476
88$9,534,078$69,686$0$6,722,795
89$10,384,017$0$0$7,300,562
90$11,316,791$0$0$7,944,255
91$12,340,726$0$0$8,665,242
92$13,464,995$0$0$9,456,956
93$14,699,704$0$0$10,326,523
94$16,055,983$0$0$11,281,792
95$17,546,095$0$0$12,331,410
96$19,183,549$0$0$13,484,903
97$20,983,228$0$0$14,752,768
98$22,961,528$0$0$16,146,565
99$25,136,511$0$0$17,679,033
100$27,528,079$0$0$19,364,207