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

Use the below retirement simulation to view the chances of a successful retirement.
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%19%
1 years$89,185$88,391$87,616$86,859$86,121$82,999
2 years$44,151$43,329$42,532$41,759$41,010$37,899
3 years$29,142$28,316$27,521$26,756$26,018$23,016
4 years$21,638$20,815$20,028$19,276$18,557$15,686
5 years$17,138$16,319$15,543$14,806$14,106$11,375
6 years$14,138$13,326$12,561$11,840$11,162$8,572
7 years$11,997$11,191$10,438$9,735$9,078$6,628
8 years$10,391$9,593$8,852$8,166$7,531$5,219
9 years$9,143$8,352$7,625$6,956$6,342$4,166
10 years$8,145$7,362$6,647$5,996$5,404$3,359
11 years$7,329$6,554$5,852$5,218$4,647$2,730
12 years$6,650$5,883$5,194$4,577$4,027$2,232
13 years$6,075$5,316$4,640$4,041$3,512$1,834
14 years$5,583$4,832$4,169$3,587$3,078$1,513
15 years$5,157$4,414$3,764$3,199$2,711$1,253
16 years$4,785$4,050$3,413$2,864$2,396$1,039
17 years$4,457$3,730$3,106$2,574$2,124$864
18 years$4,165$3,447$2,835$2,319$1,889$720
19 years$3,905$3,194$2,595$2,096$1,683$601
20 years$3,671$2,968$2,382$1,898$1,504$502
21 years$3,459$2,765$2,191$1,723$1,346$420
22 years$3,267$2,581$2,019$1,566$1,206$351
23 years$3,092$2,414$1,864$1,426$1,083$294
24 years$2,932$2,262$1,724$1,301$973$246
25 years$2,784$2,122$1,597$1,188$876$206
26 years$2,649$1,995$1,481$1,086$789$173
27 years$2,523$1,877$1,375$994$711$145
28 years$2,407$1,769$1,279$911$642$122
29 years$2,299$1,669$1,190$835$579$102
30 years$2,198$1,576$1,108$767$524$86
31 years$2,104$1,490$1,033$704$473$72
32 years$2,017$1,410$964$647$428$61
33 years$1,934$1,335$900$595$387$51
34 years$1,857$1,265$841$548$351$43
35 years$1,784$1,200$786$504$318$36
36 years$1,715$1,139$736$464$288$30
37 years$1,651$1,082$688$428$261$25
38 years$1,589$1,028$645$394$237$21
39 years$1,531$978$604$364$215$18
40 years$1,477$930$566$335$195$15
41 years$1,424$885$531$309$177$13
42 years$1,375$843$498$285$160$11
43 years$1,328$803$467$264$145$9
44 years$1,283$766$439$243$132$7
45 years$1,241$730$412$225$120$6
46 years$1,200$697$387$208$109$5
47 years$1,161$665$363$192$99$4
48 years$1,124$635$341$177$90$4
49 years$1,088$606$321$164$81$3
50 years$1,054$579$302$151$74$3

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 $4,471 every year, while hoping to spend $21,627 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: 34/41/25 Blend
58$1,080,000$1,080,000$1,080,000$1,080,000
59$1,194,772$1,137,532$1,120,792$1,226,192
60$1,293,628$1,170,260$1,135,327$1,282,807
61$1,401,842$1,203,867$1,149,625$1,341,546
62$1,520,346$1,238,373$1,163,654$1,404,460
63$1,650,167$1,273,798$1,177,382$1,471,933
64$1,792,434$1,310,164$1,190,774$1,544,389
65$1,948,391$1,347,492$1,203,794$1,622,293
66$2,119,410$1,385,801$1,216,404$1,706,158
67$2,306,999$1,425,115$1,228,563$1,796,550
68$2,512,822$1,465,455$1,240,229$1,894,088
69$2,738,710$1,506,842$1,251,357$1,999,458
70$2,986,680$1,549,300$1,261,899$2,113,412
71$3,258,955$1,592,849$1,271,806$2,236,780
72$3,557,982$1,637,512$1,281,025$2,370,476
73$3,886,459$1,683,313$1,289,502$2,515,504
74$4,247,355$1,730,272$1,297,178$2,672,973
75$4,643,944$1,778,414$1,303,992$2,844,104
76$5,079,830$1,827,761$1,309,880$3,030,239
77$5,558,987$1,878,335$1,314,774$3,232,861
78$6,085,789$1,930,159$1,318,605$3,453,599
79$6,665,059$1,983,255$1,321,297$3,694,252
80$7,302,107$2,037,647$1,322,773$3,956,798
81$8,002,786$2,093,356$1,322,950$4,243,420
82$8,773,544$2,150,405$1,321,743$4,556,519
83$9,621,486$2,208,815$1,319,062$4,898,746
84$10,554,439$2,268,608$1,314,811$5,273,016
85$11,581,026$2,329,805$1,308,892$5,682,545
86$12,710,752$2,392,426$1,301,201$6,130,876
87$13,954,087$2,456,493$1,291,629$6,621,912
88$15,322,566$2,522,024$1,280,062$7,159,955
89$16,828,904$2,589,039$1,266,380$7,749,746
90$18,487,106$2,657,556$1,250,457$8,396,508
91$20,312,607$2,727,592$1,232,164$9,105,998
92$22,322,413$2,799,164$1,211,361$9,884,560
93$24,535,264$2,872,288$1,187,907$10,739,184
94$26,971,808$2,946,978$1,161,649$11,677,575
95$29,654,800$3,023,246$1,132,431$12,708,223
96$32,609,310$3,101,106$1,100,089$13,840,484
97$35,862,967$3,180,567$1,064,449$15,084,671
98$39,446,213$3,261,639$1,025,331$16,452,147
99$43,392,594$3,344,327$982,548$17,955,435
100$47,739,077$3,428,637$935,901$19,608,337