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%13.9%
1 years$88,360$87,573$86,805$86,055$85,323$83,944
2 years$43,742$42,928$42,138$41,373$40,630$39,245
3 years$28,872$28,054$27,266$26,508$25,777$24,429
4 years$21,438$20,622$19,843$19,097$18,385$17,083
5 years$16,979$16,168$15,399$14,669$13,976$12,725
6 years$14,007$13,203$12,445$11,731$11,059$9,860
7 years$11,885$11,088$10,341$9,644$8,994$7,847
8 years$10,295$9,504$8,770$8,090$7,461$6,367
9 years$9,058$8,275$7,554$6,891$6,283$5,241
10 years$8,070$7,294$6,586$5,940$5,354$4,362
11 years$7,261$6,493$5,798$5,170$4,604$3,663
12 years$6,588$5,828$5,146$4,535$3,990$3,097
13 years$6,019$5,267$4,597$4,003$3,479$2,634
14 years$5,531$4,788$4,131$3,554$3,050$2,250
15 years$5,109$4,373$3,729$3,169$2,685$1,930
16 years$4,741$4,013$3,381$2,838$2,373$1,661
17 years$4,415$3,695$3,077$2,550$2,104$1,434
18 years$4,127$3,415$2,809$2,298$1,871$1,240
19 years$3,869$3,165$2,571$2,076$1,668$1,075
20 years$3,637$2,941$2,360$1,880$1,490$933
21 years$3,427$2,739$2,171$1,707$1,333$811
22 years$3,237$2,557$2,000$1,552$1,195$706
23 years$3,063$2,392$1,847$1,413$1,073$616
24 years$2,904$2,241$1,708$1,289$964$537
25 years$2,759$2,103$1,582$1,177$868$469
26 years$2,624$1,976$1,467$1,076$781$410
27 years$2,500$1,860$1,363$985$705$358
28 years$2,385$1,753$1,267$903$636$313
29 years$2,278$1,653$1,179$828$574$274
30 years$2,178$1,561$1,098$760$519$240
31 years$2,085$1,476$1,024$698$469$210
32 years$1,998$1,397$955$641$424$184
33 years$1,916$1,323$892$590$384$161
34 years$1,840$1,254$833$543$348$141
35 years$1,767$1,189$779$499$315$124
36 years$1,699$1,129$729$460$285$109
37 years$1,635$1,072$682$424$259$95
38 years$1,575$1,019$639$391$234$84
39 years$1,517$969$598$360$213$73
40 years$1,463$922$561$332$193$64
41 years$1,411$877$526$306$175$56
42 years$1,362$835$493$283$159$50
43 years$1,316$796$463$261$144$43
44 years$1,271$759$435$241$131$38
45 years$1,229$724$408$223$119$33
46 years$1,189$690$383$206$108$29
47 years$1,150$659$360$190$98$26
48 years$1,113$629$338$176$89$23
49 years$1,078$600$318$162$81$20
50 years$1,045$574$299$150$73$17

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 $5,803 every year, while hoping to spend $59,229 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: 79/12/9 Blend
58$1,070,000$1,070,000$1,070,000$1,070,000
59$1,185,126$1,128,416$1,111,831$1,276,673
60$1,242,989$1,120,689$1,086,058$1,329,852
61$1,304,770$1,110,598$1,057,437$1,379,883
62$1,370,805$1,097,966$1,025,809$1,433,022
63$1,441,463$1,082,602$991,009$1,489,554
64$1,517,149$1,064,307$952,865$1,549,789
65$1,598,308$1,042,868$911,196$1,614,071
66$1,685,428$1,018,060$865,813$1,682,778
67$1,779,042$989,646$816,519$1,756,329
68$1,879,739$957,373$763,106$1,835,184
69$1,988,162$920,974$705,361$1,919,850
70$2,105,021$880,168$643,056$2,010,887
71$2,231,092$834,655$575,958$2,108,914
72$2,367,230$784,120$503,819$2,214,612
73$2,514,374$728,229$426,384$2,328,732
74$2,673,556$666,628$343,384$2,452,104
75$2,845,910$598,944$254,538$2,585,642
76$3,032,684$524,783$159,556$2,730,356
77$3,235,247$443,727$58,131$2,887,358
78$3,455,109$355,336$0$3,057,877
79$3,693,928$259,145$0$3,248,079
80$3,953,527$154,662$0$3,460,916
81$4,235,915$41,368$0$3,692,482
82$4,543,298$0$0$3,944,631
83$4,878,107$0$0$4,230,138
84$5,243,016$0$0$4,547,296
85$5,640,967$0$0$4,893,203
86$6,075,198$0$0$5,270,678
87$6,549,274$0$0$5,682,825
88$7,067,121$0$0$6,133,058
89$7,633,057$0$0$6,625,138
90$8,251,838$0$0$7,163,205
91$8,928,702$0$0$7,751,818
92$9,669,414$0$0$8,395,995
93$10,480,324$0$0$9,101,264
94$11,368,422$0$0$9,873,709
95$12,341,408$0$0$10,720,034
96$13,407,760$0$0$11,647,618
97$14,576,818$0$0$12,664,592
98$15,858,866$0$0$13,779,908
99$17,265,232$0$0$15,003,427
100$18,808,393$0$0$16,346,011