Can I retire at age 59 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$89,185$88,391$87,616$86,859$86,121$84,694
2 years$44,151$43,329$42,532$41,759$41,010$39,577
3 years$29,142$28,316$27,521$26,756$26,018$24,623
4 years$21,638$20,815$20,028$19,276$18,557$17,210
5 years$17,138$16,319$15,543$14,806$14,106$12,813
6 years$14,138$13,326$12,561$11,840$11,162$9,923
7 years$11,997$11,191$10,438$9,735$9,078$7,893
8 years$10,391$9,593$8,852$8,166$7,531$6,400
9 years$9,143$8,352$7,625$6,956$6,342$5,265
10 years$8,145$7,362$6,647$5,996$5,404$4,380
11 years$7,329$6,554$5,852$5,218$4,647$3,675
12 years$6,650$5,883$5,194$4,577$4,027$3,106
13 years$6,075$5,316$4,640$4,041$3,512$2,639
14 years$5,583$4,832$4,169$3,587$3,078$2,254
15 years$5,157$4,414$3,764$3,199$2,711$1,932
16 years$4,785$4,050$3,413$2,864$2,396$1,661
17 years$4,457$3,730$3,106$2,574$2,124$1,433
18 years$4,165$3,447$2,835$2,319$1,889$1,238
19 years$3,905$3,194$2,595$2,096$1,683$1,072
20 years$3,671$2,968$2,382$1,898$1,504$930
21 years$3,459$2,765$2,191$1,723$1,346$808
22 years$3,267$2,581$2,019$1,566$1,206$703
23 years$3,092$2,414$1,864$1,426$1,083$612
24 years$2,932$2,262$1,724$1,301$973$534
25 years$2,784$2,122$1,597$1,188$876$466
26 years$2,649$1,995$1,481$1,086$789$407
27 years$2,523$1,877$1,375$994$711$355
28 years$2,407$1,769$1,279$911$642$310
29 years$2,299$1,669$1,190$835$579$271
30 years$2,198$1,576$1,108$767$524$237
31 years$2,104$1,490$1,033$704$473$208
32 years$2,017$1,410$964$647$428$182
33 years$1,934$1,335$900$595$387$159
34 years$1,857$1,265$841$548$351$139
35 years$1,784$1,200$786$504$318$122
36 years$1,715$1,139$736$464$288$107
37 years$1,651$1,082$688$428$261$94
38 years$1,589$1,028$645$394$237$82
39 years$1,531$978$604$364$215$72
40 years$1,477$930$566$335$195$63
41 years$1,424$885$531$309$177$55
42 years$1,375$843$498$285$160$49
43 years$1,328$803$467$264$145$43
44 years$1,283$766$439$243$132$37
45 years$1,241$730$412$225$120$33
46 years$1,200$697$387$208$109$29
47 years$1,161$665$363$192$99$25
48 years$1,124$635$341$177$90$22
49 years$1,088$606$321$164$81$19
50 years$1,054$579$302$151$74$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,080,000, adding $5,944 every year, while hoping to spend $54,927 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: 35/50/15 Blend
58$1,080,000$1,080,000$1,080,000$1,080,000
59$1,196,291$1,139,051$1,122,311$1,232,428
60$1,259,871$1,136,423$1,101,467$1,256,553
61$1,328,095$1,131,825$1,078,083$1,276,950
62$1,401,379$1,125,102$1,052,017$1,297,773
63$1,480,179$1,116,092$1,023,119$1,319,088
64$1,564,997$1,104,620$991,233$1,340,973
65$1,656,381$1,090,501$956,194$1,363,519
66$1,754,938$1,073,541$917,832$1,386,830
67$1,861,329$1,053,532$875,967$1,411,025
68$1,976,285$1,030,256$830,413$1,436,243
69$2,100,608$1,003,480$780,973$1,462,639
70$2,235,177$972,958$727,443$1,490,394
71$2,380,963$938,430$669,610$1,519,712
72$2,539,029$899,621$607,250$1,550,824
73$2,710,547$856,240$540,130$1,583,994
74$2,896,805$807,977$468,006$1,619,519
75$3,099,219$754,508$390,624$1,657,735
76$3,319,348$695,488$307,719$1,699,021
77$3,558,906$630,552$219,012$1,743,805
78$3,819,780$559,315$124,215$1,792,568
79$4,104,047$481,370$23,025$1,845,850
80$4,413,990$396,287$0$1,904,259
81$4,752,124$303,612$0$1,982,073
82$5,121,216$202,866$0$2,071,273
83$5,524,314$93,540$0$2,169,080
84$5,964,772$0$0$2,276,505
85$6,446,280$0$0$2,408,377
86$6,972,905$0$0$2,609,041
87$7,549,123$0$0$2,828,755
88$8,179,862$0$0$3,069,418
89$8,870,549$0$0$3,333,121
90$9,627,161$0$0$3,622,167
91$10,456,280$0$0$3,939,090
92$11,365,154$0$0$4,286,685
93$12,361,766$0$0$4,668,028
94$13,454,911$0$0$5,086,506
95$14,654,271$0$0$5,545,854
96$15,970,516$0$0$6,050,181
97$17,415,395$0$0$6,604,017
98$19,001,852$0$0$7,212,350
99$20,744,145$0$0$7,880,678
100$22,657,982$0$0$8,615,054