Can I retire at age 59 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$95,792$94,938$94,106$93,293$92,500$90,118
2 years$47,422$46,538$45,683$44,853$44,048$41,663
3 years$31,300$30,413$29,560$28,738$27,946$25,634
4 years$23,241$22,357$21,512$20,704$19,931$17,710
5 years$18,407$17,528$16,694$15,902$15,151$13,026
6 years$15,185$14,313$13,491$12,717$11,989$9,962
7 years$12,885$12,020$11,211$10,456$9,750$7,823
8 years$11,161$10,303$9,508$8,771$8,089$6,259
9 years$9,820$8,971$8,189$7,471$6,812$5,079
10 years$8,748$7,908$7,140$6,440$5,804$4,165
11 years$7,872$7,040$6,286$5,605$4,992$3,444
12 years$7,142$6,318$5,578$4,916$4,326$2,867
13 years$6,525$5,710$4,984$4,340$3,772$2,400
14 years$5,997$5,190$4,478$3,853$3,307$2,017
15 years$5,539$4,741$4,043$3,436$2,911$1,702
16 years$5,139$4,350$3,666$3,077$2,573$1,440
17 years$4,787$4,006$3,336$2,764$2,281$1,221
18 years$4,474$3,702$3,045$2,491$2,029$1,038
19 years$4,194$3,431$2,788$2,251$1,808$884
20 years$3,942$3,188$2,558$2,039$1,615$754
21 years$3,715$2,970$2,353$1,850$1,445$643
22 years$3,509$2,772$2,169$1,682$1,295$550
23 years$3,321$2,593$2,002$1,532$1,163$470
24 years$3,149$2,429$1,852$1,397$1,045$403
25 years$2,991$2,280$1,715$1,276$941$345
26 years$2,845$2,143$1,591$1,167$847$296
27 years$2,710$2,016$1,477$1,068$764$253
28 years$2,585$1,900$1,373$979$689$217
29 years$2,469$1,792$1,278$897$622$186
30 years$2,361$1,693$1,190$824$562$160
31 years$2,260$1,600$1,110$756$508$137
32 years$2,166$1,514$1,035$695$460$118
33 years$2,077$1,434$967$639$416$101
34 years$1,994$1,359$903$588$377$87
35 years$1,916$1,289$844$541$341$75
36 years$1,842$1,223$790$499$309$64
37 years$1,773$1,162$739$459$280$55
38 years$1,707$1,104$692$423$254$47
39 years$1,645$1,050$649$390$230$41
40 years$1,586$999$608$360$209$35
41 years$1,530$951$570$332$190$30
42 years$1,477$906$535$307$172$26
43 years$1,426$863$502$283$156$22
44 years$1,378$823$471$261$142$19
45 years$1,332$784$442$241$129$16
46 years$1,289$748$415$223$117$14
47 years$1,247$714$390$206$106$12
48 years$1,207$682$367$190$96$10
49 years$1,169$651$345$176$87$9
50 years$1,133$622$324$163$79$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,160,000, adding $4,229 every year, while hoping to spend $55,415 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: 67/8/25 Blend
58$1,160,000$1,160,000$1,160,000$1,160,000
59$1,282,682$1,221,202$1,203,222$1,360,070
60$1,354,555$1,222,080$1,184,569$1,413,496
61$1,431,901$1,221,144$1,163,434$1,465,214
62$1,515,221$1,218,245$1,139,675$1,520,505
63$1,605,063$1,213,229$1,113,143$1,579,723
64$1,702,030$1,205,929$1,083,685$1,643,258
65$1,806,786$1,196,168$1,051,137$1,711,544
66$1,920,058$1,183,760$1,015,330$1,785,060
67$2,042,647$1,168,507$976,086$1,864,333
68$2,175,432$1,150,199$933,221$1,949,947
69$2,319,381$1,128,614$886,538$2,042,550
70$2,475,558$1,103,515$835,837$2,142,853
71$2,645,132$1,074,655$780,904$2,251,645
72$2,829,390$1,041,767$721,519$2,369,797
73$3,029,747$1,004,574$657,450$2,498,271
74$3,247,762$962,778$588,455$2,638,130
75$3,485,147$916,068$514,282$2,790,548
76$3,743,788$864,111$434,666$2,956,820
77$4,025,759$806,557$349,332$3,138,379
78$4,333,345$743,037$257,994$3,336,806
79$4,669,059$673,159$160,349$3,553,845
80$5,035,668$596,508$56,086$3,791,426
81$5,436,217$512,648$0$4,051,674
82$5,874,061$421,117$0$4,351,660
83$6,352,889$321,426$0$4,696,180
84$6,876,768$213,060$0$5,073,212
85$7,450,173$95,475$0$5,486,017
86$8,078,032$0$0$5,938,185
87$8,765,773$0$0$6,436,478
88$9,519,373$0$0$6,991,768
89$10,345,414$0$0$7,600,509
90$11,251,145$0$0$8,268,052
91$12,244,552$0$0$9,000,292
92$13,334,429$0$0$9,803,721
93$14,530,463$0$0$10,685,489
94$15,843,324$0$0$11,653,475
95$17,284,765$0$0$12,716,353
96$18,867,734$0$0$13,883,684
97$20,606,494$0$0$15,165,995
98$22,516,755$0$0$16,574,887
99$24,615,829$0$0$18,123,137
100$26,922,782$0$0$19,824,824