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%14.6%
1 years$92,489$91,665$90,861$90,076$89,310$87,615
2 years$45,786$44,934$44,107$43,306$42,529$40,827
3 years$30,221$29,365$28,540$27,747$26,982$25,327
4 years$22,440$21,586$20,770$19,990$19,244$17,649
5 years$17,772$16,924$16,118$15,354$14,629$13,098
6 years$14,662$13,820$13,026$12,279$11,575$10,110
7 years$12,441$11,606$10,825$10,095$9,414$8,015
8 years$10,776$9,948$9,180$8,469$7,810$6,477
9 years$9,482$8,662$7,907$7,213$6,577$5,309
10 years$8,447$7,635$6,893$6,218$5,604$4,400
11 years$7,601$6,797$6,069$5,411$4,819$3,678
12 years$6,896$6,100$5,386$4,747$4,176$3,096
13 years$6,300$5,513$4,812$4,191$3,642$2,621
14 years$5,790$5,011$4,324$3,720$3,193$2,229
15 years$5,348$4,578$3,904$3,317$2,811$1,903
16 years$4,962$4,200$3,539$2,970$2,484$1,629
17 years$4,622$3,868$3,221$2,669$2,203$1,399
18 years$4,319$3,574$2,940$2,405$1,959$1,204
19 years$4,049$3,313$2,691$2,173$1,746$1,038
20 years$3,807$3,078$2,470$1,968$1,559$897
21 years$3,587$2,867$2,272$1,786$1,395$776
22 years$3,388$2,677$2,094$1,624$1,251$672
23 years$3,206$2,503$1,933$1,479$1,123$582
24 years$3,040$2,345$1,788$1,349$1,009$505
25 years$2,888$2,201$1,656$1,232$908$438
26 years$2,747$2,069$1,536$1,127$818$381
27 years$2,617$1,947$1,426$1,031$737$331
28 years$2,496$1,834$1,326$945$665$288
29 years$2,384$1,731$1,234$866$601$251
30 years$2,280$1,634$1,149$795$543$218
31 years$2,182$1,545$1,071$730$491$190
32 years$2,091$1,462$1,000$671$444$165
33 years$2,006$1,384$933$617$402$144
34 years$1,925$1,312$872$568$364$126
35 years$1,850$1,245$815$523$330$109
36 years$1,779$1,181$763$481$299$95
37 years$1,712$1,122$714$444$271$83
38 years$1,648$1,066$669$409$245$73
39 years$1,588$1,014$626$377$222$63
40 years$1,531$965$587$348$202$55
41 years$1,477$918$551$321$183$48
42 years$1,426$874$516$296$166$42
43 years$1,377$833$485$273$151$37
44 years$1,331$794$455$252$137$32
45 years$1,286$757$427$233$124$28
46 years$1,244$723$401$215$113$24
47 years$1,204$689$377$199$102$21
48 years$1,166$658$354$184$93$18
49 years$1,129$629$333$170$84$16
50 years$1,094$600$313$157$77$14

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 $3,503 every year, while hoping to spend $50,699 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: 50/23/27 Blend
58$1,120,000$1,120,000$1,120,000$1,120,000
59$1,237,853$1,178,493$1,161,133$1,290,143
60$1,310,171$1,182,296$1,146,088$1,330,814
61$1,388,166$1,184,586$1,128,839$1,369,650
62$1,472,364$1,185,236$1,109,260$1,410,861
63$1,563,341$1,184,109$1,087,217$1,454,696
64$1,661,734$1,181,062$1,062,571$1,501,430
65$1,768,239$1,175,942$1,035,175$1,551,372
66$1,883,623$1,168,587$1,004,877$1,604,861
67$2,008,730$1,158,825$971,518$1,662,277
68$2,144,487$1,146,474$934,930$1,724,040
69$2,291,913$1,131,339$894,938$1,790,616
70$2,452,130$1,113,217$851,361$1,862,523
71$2,626,372$1,091,889$804,006$1,940,336
72$2,815,997$1,067,127$752,675$2,024,692
73$3,022,498$1,038,685$697,159$2,116,296
74$3,247,519$1,006,307$637,240$2,215,932
75$3,492,869$969,720$572,691$2,324,468
76$3,760,539$928,634$503,274$2,442,863
77$4,052,721$882,743$428,740$2,572,184
78$4,371,826$831,726$348,831$2,713,609
79$4,720,511$775,238$263,275$2,868,443
80$5,101,698$712,920$171,790$3,038,132
81$5,518,606$644,388$74,080$3,224,274
82$5,974,781$569,240$0$3,428,639
83$6,474,123$487,047$0$3,661,883
84$7,020,930$397,359$0$3,940,815
85$7,619,935$299,699$0$4,246,561
86$8,276,348$193,565$0$4,581,871
87$8,995,910$78,424$0$4,949,779
88$9,784,942$0$0$5,353,632
89$10,650,405$0$0$5,808,836
90$11,599,969$0$0$6,330,170
91$12,642,080$0$0$6,902,438
92$13,786,042$0$0$7,530,766
93$15,042,103$0$0$8,220,798
94$16,421,555$0$0$8,978,752
95$17,936,833$0$0$9,811,480
96$19,601,638$0$0$10,726,529
97$21,431,064$0$0$11,732,212
98$23,441,737$0$0$12,837,690
99$25,651,978$0$0$14,053,053
100$28,081,968$0$0$15,389,420