Can I retire at age 59 with 1,120,000?

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 $1,120,000?

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$92,489$91,665$90,861$90,076$89,310$87,867
2 years$45,786$44,934$44,107$43,306$42,529$41,079
3 years$30,221$29,365$28,540$27,747$26,982$25,570
4 years$22,440$21,586$20,770$19,990$19,244$17,881
5 years$17,772$16,924$16,118$15,354$14,629$13,319
6 years$14,662$13,820$13,026$12,279$11,575$10,320
7 years$12,441$11,606$10,825$10,095$9,414$8,214
8 years$10,776$9,948$9,180$8,469$7,810$6,664
9 years$9,482$8,662$7,907$7,213$6,577$5,486
10 years$8,447$7,635$6,893$6,218$5,604$4,566
11 years$7,601$6,797$6,069$5,411$4,819$3,834
12 years$6,896$6,100$5,386$4,747$4,176$3,242
13 years$6,300$5,513$4,812$4,191$3,642$2,757
14 years$5,790$5,011$4,324$3,720$3,193$2,356
15 years$5,348$4,578$3,904$3,317$2,811$2,021
16 years$4,962$4,200$3,539$2,970$2,484$1,739
17 years$4,622$3,868$3,221$2,669$2,203$1,501
18 years$4,319$3,574$2,940$2,405$1,959$1,298
19 years$4,049$3,313$2,691$2,173$1,746$1,125
20 years$3,807$3,078$2,470$1,968$1,559$977
21 years$3,587$2,867$2,272$1,786$1,395$849
22 years$3,388$2,677$2,094$1,624$1,251$739
23 years$3,206$2,503$1,933$1,479$1,123$644
24 years$3,040$2,345$1,788$1,349$1,009$562
25 years$2,888$2,201$1,656$1,232$908$491
26 years$2,747$2,069$1,536$1,127$818$429
27 years$2,617$1,947$1,426$1,031$737$375
28 years$2,496$1,834$1,326$945$665$328
29 years$2,384$1,731$1,234$866$601$287
30 years$2,280$1,634$1,149$795$543$251
31 years$2,182$1,545$1,071$730$491$220
32 years$2,091$1,462$1,000$671$444$193
33 years$2,006$1,384$933$617$402$169
34 years$1,925$1,312$872$568$364$148
35 years$1,850$1,245$815$523$330$130
36 years$1,779$1,181$763$481$299$114
37 years$1,712$1,122$714$444$271$100
38 years$1,648$1,066$669$409$245$88
39 years$1,588$1,014$626$377$222$77
40 years$1,531$965$587$348$202$67
41 years$1,477$918$551$321$183$59
42 years$1,426$874$516$296$166$52
43 years$1,377$833$485$273$151$45
44 years$1,331$794$455$252$137$40
45 years$1,286$757$427$233$124$35
46 years$1,244$723$401$215$113$31
47 years$1,204$689$377$199$102$27
48 years$1,166$658$354$184$93$24
49 years$1,129$629$333$170$84$21
50 years$1,094$600$313$157$77$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,120,000, adding $4,855 every year, while hoping to spend $44,386 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: 57/32/11 Blend
58$1,120,000$1,120,000$1,120,000$1,120,000
59$1,239,248$1,179,888$1,162,528$1,306,260
60$1,318,425$1,190,476$1,154,246$1,362,655
61$1,404,190$1,200,095$1,144,200$1,418,730
62$1,497,169$1,208,652$1,132,282$1,478,770
63$1,598,049$1,216,044$1,118,382$1,543,161
64$1,707,586$1,222,166$1,102,384$1,612,328
65$1,826,612$1,226,904$1,084,165$1,686,743
66$1,956,041$1,230,137$1,063,600$1,766,924
67$2,096,880$1,231,737$1,040,553$1,853,447
68$2,250,236$1,231,567$1,014,886$1,946,944
69$2,417,328$1,229,481$986,453$2,048,117
70$2,599,497$1,225,327$955,100$2,157,738
71$2,798,218$1,218,941$920,669$2,276,662
72$3,015,117$1,210,150$882,992$2,405,832
73$3,251,981$1,198,769$841,894$2,546,291
74$3,510,779$1,184,604$797,193$2,699,188
75$3,793,677$1,167,449$748,698$2,865,794
76$4,103,063$1,147,084$696,210$3,047,512
77$4,441,562$1,123,278$639,519$3,245,890
78$4,812,068$1,095,785$578,410$3,462,639
79$5,217,765$1,064,345$512,653$3,699,646
80$5,662,162$1,028,683$442,012$3,958,995
81$6,149,121$988,507$366,238$4,242,987
82$6,682,897$943,510$285,073$4,554,162
83$7,268,175$893,364$198,245$4,895,323
84$7,910,115$837,725$105,472$5,269,563
85$8,614,401$776,228$6,460$5,680,297
86$9,387,295$708,488$0$6,131,293
87$10,235,692$634,097$0$6,638,354
88$11,167,188$552,623$0$7,195,990
89$12,190,152$463,613$0$7,808,548
90$13,313,802$366,584$0$8,481,654
91$14,548,291$261,028$0$9,221,517
92$15,904,808$146,409$0$10,034,983
93$17,395,676$22,161$0$10,929,604
94$19,034,473$0$0$11,913,707
95$20,836,157$0$0$13,036,025
96$22,817,208$0$0$14,278,765
97$24,995,782$0$0$15,645,525
98$27,391,885$0$0$17,148,870
99$30,027,556$0$0$18,802,643
100$32,927,079$0$0$20,622,095