Can I retire at age 59 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$91,663$90,846$90,050$89,272$88,513$87,625
2 years$45,378$44,532$43,713$42,919$42,149$41,255
3 years$29,951$29,102$28,285$27,499$26,741$25,868
4 years$22,240$21,393$20,585$19,811$19,072$18,227
5 years$17,614$16,773$15,974$15,217$14,498$13,684
6 years$14,531$13,696$12,910$12,169$11,472$10,689
7 years$12,330$11,502$10,728$10,005$9,330$8,579
8 years$10,680$9,859$9,098$8,393$7,740$7,021
9 years$9,397$8,584$7,836$7,149$6,518$5,831
10 years$8,371$7,567$6,832$6,162$5,554$4,898
11 years$7,533$6,736$6,015$5,363$4,776$4,151
12 years$6,834$6,046$5,338$4,704$4,139$3,544
13 years$6,244$5,464$4,769$4,153$3,609$3,043
14 years$5,738$4,966$4,285$3,687$3,164$2,626
15 years$5,300$4,537$3,869$3,288$2,786$2,276
16 years$4,918$4,163$3,508$2,944$2,462$1,979
17 years$4,580$3,834$3,192$2,645$2,183$1,726
18 years$4,281$3,542$2,914$2,384$1,941$1,509
19 years$4,013$3,283$2,667$2,154$1,730$1,322
20 years$3,773$3,051$2,448$1,951$1,545$1,161
21 years$3,555$2,842$2,252$1,770$1,383$1,021
22 years$3,358$2,653$2,075$1,610$1,240$899
23 years$3,178$2,481$1,916$1,466$1,113$792
24 years$3,013$2,324$1,772$1,337$1,000$699
25 years$2,862$2,181$1,641$1,221$900$618
26 years$2,722$2,050$1,522$1,117$811$546
27 years$2,593$1,929$1,414$1,022$731$483
28 years$2,474$1,818$1,314$936$660$428
29 years$2,363$1,715$1,223$859$596$379
30 years$2,259$1,620$1,139$788$538$336
31 years$2,163$1,531$1,062$724$486$298
32 years$2,073$1,449$991$665$440$264
33 years$1,988$1,372$925$612$398$234
34 years$1,908$1,300$864$563$361$208
35 years$1,833$1,233$808$518$327$185
36 years$1,763$1,171$756$477$296$164
37 years$1,696$1,112$708$440$268$146
38 years$1,633$1,057$663$405$243$129
39 years$1,574$1,005$621$374$220$115
40 years$1,518$956$582$345$200$102
41 years$1,464$910$546$318$181$91
42 years$1,413$867$512$293$165$81
43 years$1,365$826$480$271$149$72
44 years$1,319$787$451$250$136$64
45 years$1,275$751$423$231$123$57
46 years$1,233$716$398$213$112$50
47 years$1,193$683$373$197$102$45
48 years$1,155$652$351$182$92$40
49 years$1,119$623$330$168$84$35
50 years$1,084$595$310$156$76$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,110,000, adding $2,553 every year, while hoping to spend $24,718 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: 64/26/10 Blend
58$1,110,000$1,110,000$1,110,000$1,110,000
59$1,225,853$1,167,023$1,149,818$1,301,483
60$1,324,591$1,197,908$1,162,038$1,383,161
61$1,432,571$1,229,477$1,173,838$1,469,215
62$1,550,710$1,261,739$1,185,178$1,562,577
63$1,680,018$1,294,700$1,196,018$1,663,957
64$1,821,607$1,328,367$1,206,311$1,774,137
65$1,976,700$1,362,745$1,216,011$1,893,976
66$2,146,644$1,397,841$1,225,069$2,024,421
67$2,332,925$1,433,659$1,233,432$2,166,516
68$2,537,178$1,470,202$1,241,046$2,321,409
69$2,761,202$1,507,474$1,247,853$2,490,364
70$3,006,982$1,545,478$1,253,794$2,674,776
71$3,276,702$1,584,214$1,258,803$2,876,178
72$3,572,768$1,623,683$1,262,816$3,096,262
73$3,897,830$1,663,883$1,265,760$3,336,888
74$4,254,810$1,704,814$1,267,564$3,600,109
75$4,646,922$1,746,472$1,268,149$3,888,184
76$5,077,710$1,788,851$1,267,434$4,203,603
77$5,551,078$1,831,946$1,265,335$4,549,108
78$6,071,327$1,875,750$1,261,762$4,927,720
79$6,643,192$1,920,252$1,256,621$5,342,770
80$7,271,895$1,965,441$1,249,815$5,797,924
81$7,963,184$2,011,304$1,241,240$6,297,224
82$8,723,397$2,057,826$1,230,789$6,845,124
83$9,559,511$2,104,988$1,218,349$7,446,530
84$10,479,219$2,152,770$1,203,801$8,106,848
85$11,490,994$2,201,149$1,187,022$8,832,035
86$12,604,170$2,250,101$1,167,883$9,628,655
87$13,829,035$2,299,595$1,146,246$10,503,942
88$15,176,922$2,349,601$1,121,971$11,465,865
89$16,660,320$2,400,083$1,094,908$12,523,208
90$18,292,987$2,451,002$1,064,903$13,685,648
91$20,090,086$2,502,315$1,031,791$14,963,850
92$22,068,322$2,553,976$995,404$16,369,566
93$24,246,104$2,605,934$955,563$17,915,747
94$26,643,714$2,658,131$912,081$19,616,664
95$29,283,502$2,710,509$864,765$21,488,042
96$32,190,095$2,763,000$813,411$23,547,213
97$35,390,631$2,815,533$757,806$25,813,274
98$38,915,011$2,868,030$697,729$28,307,270
99$42,796,186$2,920,408$632,947$31,052,395
100$47,070,464$2,972,575$563,217$34,074,205