Can I retire at age 59 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$88,360$87,573$86,805$86,055$85,323$83,532
2 years$43,742$42,928$42,138$41,373$40,630$38,834
3 years$28,872$28,054$27,266$26,508$25,777$24,033
4 years$21,438$20,622$19,843$19,097$18,385$16,704
5 years$16,979$16,168$15,399$14,669$13,976$12,365
6 years$14,007$13,203$12,445$11,731$11,059$9,518
7 years$11,885$11,088$10,341$9,644$8,994$7,525
8 years$10,295$9,504$8,770$8,090$7,461$6,063
9 years$9,058$8,275$7,554$6,891$6,283$4,955
10 years$8,070$7,294$6,586$5,940$5,354$4,094
11 years$7,261$6,493$5,798$5,170$4,604$3,412
12 years$6,588$5,828$5,146$4,535$3,990$2,863
13 years$6,019$5,267$4,597$4,003$3,479$2,415
14 years$5,531$4,788$4,131$3,554$3,050$2,047
15 years$5,109$4,373$3,729$3,169$2,685$1,741
16 years$4,741$4,013$3,381$2,838$2,373$1,486
17 years$4,415$3,695$3,077$2,550$2,104$1,271
18 years$4,127$3,415$2,809$2,298$1,871$1,090
19 years$3,869$3,165$2,571$2,076$1,668$936
20 years$3,637$2,941$2,360$1,880$1,490$806
21 years$3,427$2,739$2,171$1,707$1,333$694
22 years$3,237$2,557$2,000$1,552$1,195$599
23 years$3,063$2,392$1,847$1,413$1,073$517
24 years$2,904$2,241$1,708$1,289$964$447
25 years$2,759$2,103$1,582$1,177$868$386
26 years$2,624$1,976$1,467$1,076$781$334
27 years$2,500$1,860$1,363$985$705$290
28 years$2,385$1,753$1,267$903$636$251
29 years$2,278$1,653$1,179$828$574$217
30 years$2,178$1,561$1,098$760$519$188
31 years$2,085$1,476$1,024$698$469$163
32 years$1,998$1,397$955$641$424$142
33 years$1,916$1,323$892$590$384$123
34 years$1,840$1,254$833$543$348$107
35 years$1,767$1,189$779$499$315$93
36 years$1,699$1,129$729$460$285$80
37 years$1,635$1,072$682$424$259$70
38 years$1,575$1,019$639$391$234$61
39 years$1,517$969$598$360$213$53
40 years$1,463$922$561$332$193$46
41 years$1,411$877$526$306$175$40
42 years$1,362$835$493$283$159$34
43 years$1,316$796$463$261$144$30
44 years$1,271$759$435$241$131$26
45 years$1,229$724$408$223$119$23
46 years$1,189$690$383$206$108$20
47 years$1,150$659$360$190$98$17
48 years$1,113$629$338$176$89$15
49 years$1,078$600$318$162$81$13
50 years$1,045$574$299$150$73$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,070,000, adding $6,751 every year, while hoping to spend $42,592 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: 53/35/12 Blend
58$1,070,000$1,070,000$1,070,000$1,070,000
59$1,186,104$1,129,394$1,112,809$1,244,899
60$1,261,769$1,139,416$1,104,770$1,295,708
61$1,343,724$1,148,503$1,095,035$1,345,811
62$1,432,566$1,156,562$1,083,501$1,399,340
63$1,528,952$1,163,497$1,070,062$1,456,628
64$1,633,602$1,169,205$1,054,606$1,518,047
65$1,747,310$1,173,577$1,037,016$1,584,005
66$1,870,950$1,176,496$1,017,170$1,654,953
67$2,005,481$1,177,839$994,940$1,731,393
68$2,151,961$1,177,474$970,191$1,813,876
69$2,311,552$1,175,262$942,784$1,903,013
70$2,485,535$1,171,054$912,571$1,999,480
71$2,675,317$1,164,693$879,400$2,104,021
72$2,882,449$1,156,013$843,110$2,217,462
73$3,108,637$1,144,836$803,533$2,340,714
74$3,355,760$1,130,975$760,493$2,474,782
75$3,625,887$1,114,232$713,808$2,620,781
76$3,921,293$1,094,394$663,286$2,779,938
77$4,244,485$1,071,241$608,727$2,953,611
78$4,598,225$1,044,534$549,922$3,143,299
79$4,985,552$1,014,023$486,652$3,350,660
80$5,409,812$979,445$418,689$3,577,523
81$5,874,693$940,517$345,795$3,825,909
82$6,384,253$896,945$267,721$4,098,048
83$6,942,965$848,413$184,207$4,396,406
84$7,555,752$794,589$94,983$4,723,702
85$8,228,038$735,124$0$5,082,942
86$8,965,798$669,645$0$5,477,472
87$9,775,611$597,760$0$5,923,903
88$10,664,729$519,055$0$6,414,143
89$11,641,134$433,091$0$6,952,695
90$12,713,623$339,407$0$7,544,526
91$13,891,887$237,512$0$8,195,115
92$15,186,600$126,890$0$8,910,508
93$16,609,523$6,998$0$9,697,374
94$18,173,611$0$0$10,563,068
95$19,893,139$0$0$11,562,976
96$21,783,832$0$0$12,665,496
97$23,863,016$0$0$13,878,050
98$26,149,779$0$0$15,211,787
99$28,665,153$0$0$16,678,987
100$31,432,311$0$0$18,293,183