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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$92,489$91,665$90,861$90,076$89,310$86,834
2 years$45,786$44,934$44,107$43,306$42,529$40,053
3 years$30,221$29,365$28,540$27,747$26,982$24,584
4 years$22,440$21,586$20,770$19,990$19,244$16,941
5 years$17,772$16,924$16,118$15,354$14,629$12,428
6 years$14,662$13,820$13,026$12,279$11,575$9,479
7 years$12,441$11,606$10,825$10,095$9,414$7,422
8 years$10,776$9,948$9,180$8,469$7,810$5,921
9 years$9,482$8,662$7,907$7,213$6,577$4,790
10 years$8,447$7,635$6,893$6,218$5,604$3,916
11 years$7,601$6,797$6,069$5,411$4,819$3,228
12 years$6,896$6,100$5,386$4,747$4,176$2,679
13 years$6,300$5,513$4,812$4,191$3,642$2,234
14 years$5,790$5,011$4,324$3,720$3,193$1,872
15 years$5,348$4,578$3,904$3,317$2,811$1,573
16 years$4,962$4,200$3,539$2,970$2,484$1,327
17 years$4,622$3,868$3,221$2,669$2,203$1,121
18 years$4,319$3,574$2,940$2,405$1,959$949
19 years$4,049$3,313$2,691$2,173$1,746$805
20 years$3,807$3,078$2,470$1,968$1,559$684
21 years$3,587$2,867$2,272$1,786$1,395$582
22 years$3,388$2,677$2,094$1,624$1,251$495
23 years$3,206$2,503$1,933$1,479$1,123$422
24 years$3,040$2,345$1,788$1,349$1,009$360
25 years$2,888$2,201$1,656$1,232$908$307
26 years$2,747$2,069$1,536$1,127$818$262
27 years$2,617$1,947$1,426$1,031$737$224
28 years$2,496$1,834$1,326$945$665$191
29 years$2,384$1,731$1,234$866$601$163
30 years$2,280$1,634$1,149$795$543$140
31 years$2,182$1,545$1,071$730$491$119
32 years$2,091$1,462$1,000$671$444$102
33 years$2,006$1,384$933$617$402$87
34 years$1,925$1,312$872$568$364$75
35 years$1,850$1,245$815$523$330$64
36 years$1,779$1,181$763$481$299$55
37 years$1,712$1,122$714$444$271$47
38 years$1,648$1,066$669$409$245$40
39 years$1,588$1,014$626$377$222$34
40 years$1,531$965$587$348$202$29
41 years$1,477$918$551$321$183$25
42 years$1,426$874$516$296$166$21
43 years$1,377$833$485$273$151$18
44 years$1,331$794$455$252$137$16
45 years$1,286$757$427$233$124$13
46 years$1,244$723$401$215$113$12
47 years$1,204$689$377$199$102$10
48 years$1,166$658$354$184$93$8
49 years$1,129$629$333$170$84$7
50 years$1,094$600$313$157$77$6

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 $4,835 every year, while hoping to spend $24,423 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: 62/13/25 Blend
58$1,120,000$1,120,000$1,120,000$1,120,000
59$1,239,227$1,179,867$1,162,507$1,307,562
60$1,339,643$1,211,695$1,175,465$1,386,274
61$1,449,482$1,244,264$1,188,039$1,469,074
62$1,569,680$1,277,584$1,200,190$1,558,947
63$1,701,268$1,311,666$1,211,876$1,656,589
64$1,845,379$1,346,519$1,223,056$1,762,763
65$2,003,263$1,382,154$1,233,684$1,878,313
66$2,176,295$1,418,579$1,243,711$2,004,168
67$2,365,991$1,455,802$1,253,089$2,141,352
68$2,574,018$1,493,833$1,261,764$2,290,992
69$2,802,215$1,532,678$1,269,680$2,454,329
70$3,052,606$1,572,345$1,276,780$2,632,735
71$3,327,421$1,612,839$1,283,001$2,827,716
72$3,629,116$1,654,165$1,288,279$3,040,935
73$3,960,396$1,696,330$1,292,547$3,274,224
74$4,324,241$1,739,335$1,295,732$3,529,601
75$4,723,935$1,783,184$1,297,760$3,809,290
76$5,163,094$1,827,877$1,298,553$4,115,742
77$5,645,703$1,873,417$1,298,028$4,451,660
78$6,176,152$1,919,801$1,296,099$4,820,018
79$6,759,275$1,967,027$1,292,674$5,224,099
80$7,400,402$2,015,092$1,287,660$5,667,516
81$8,105,401$2,063,990$1,280,955$6,154,254
82$8,880,741$2,113,714$1,272,455$6,688,704
83$9,733,545$2,164,255$1,262,051$7,275,705
84$10,671,666$2,215,602$1,249,629$7,920,589
85$11,703,751$2,267,742$1,235,067$8,629,233
86$12,839,331$2,320,660$1,218,239$9,408,115
87$14,088,908$2,374,337$1,199,015$10,264,371
88$15,464,050$2,428,753$1,177,256$11,205,869
89$16,977,506$2,483,884$1,152,817$12,241,279
90$18,643,323$2,539,706$1,125,547$13,380,155
91$20,476,977$2,596,186$1,095,288$14,633,027
92$22,495,523$2,653,294$1,061,874$16,011,500
93$24,717,752$2,710,991$1,025,133$17,528,363
94$27,164,371$2,769,238$984,883$19,197,712
95$29,858,195$2,827,989$940,935$21,035,081
96$32,824,366$2,887,196$893,091$23,057,589
97$36,090,586$2,946,803$841,145$25,284,103
98$39,687,382$3,006,752$784,879$27,735,416
99$43,648,391$3,066,979$724,069$30,434,445
100$48,010,680$3,127,414$658,478$33,406,443