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

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$95,792$94,938$94,106$93,293$92,500$90,227
2 years$47,422$46,538$45,683$44,853$44,048$41,772
3 years$31,300$30,413$29,560$28,738$27,946$25,738
4 years$23,241$22,357$21,512$20,704$19,931$17,809
5 years$18,407$17,528$16,694$15,902$15,151$13,120
6 years$15,185$14,313$13,491$12,717$11,989$10,050
7 years$12,885$12,020$11,211$10,456$9,750$7,905
8 years$11,161$10,303$9,508$8,771$8,089$6,336
9 years$9,820$8,971$8,189$7,471$6,812$5,150
10 years$8,748$7,908$7,140$6,440$5,804$4,232
11 years$7,872$7,040$6,286$5,605$4,992$3,506
12 years$7,142$6,318$5,578$4,916$4,326$2,925
13 years$6,525$5,710$4,984$4,340$3,772$2,453
14 years$5,997$5,190$4,478$3,853$3,307$2,066
15 years$5,539$4,741$4,043$3,436$2,911$1,747
16 years$5,139$4,350$3,666$3,077$2,573$1,481
17 years$4,787$4,006$3,336$2,764$2,281$1,259
18 years$4,474$3,702$3,045$2,491$2,029$1,072
19 years$4,194$3,431$2,788$2,251$1,808$915
20 years$3,942$3,188$2,558$2,039$1,615$782
21 years$3,715$2,970$2,353$1,850$1,445$669
22 years$3,509$2,772$2,169$1,682$1,295$573
23 years$3,321$2,593$2,002$1,532$1,163$491
24 years$3,149$2,429$1,852$1,397$1,045$422
25 years$2,991$2,280$1,715$1,276$941$362
26 years$2,845$2,143$1,591$1,167$847$311
27 years$2,710$2,016$1,477$1,068$764$267
28 years$2,585$1,900$1,373$979$689$230
29 years$2,469$1,792$1,278$897$622$198
30 years$2,361$1,693$1,190$824$562$170
31 years$2,260$1,600$1,110$756$508$146
32 years$2,166$1,514$1,035$695$460$126
33 years$2,077$1,434$967$639$416$109
34 years$1,994$1,359$903$588$377$93
35 years$1,916$1,289$844$541$341$81
36 years$1,842$1,223$790$499$309$69
37 years$1,773$1,162$739$459$280$60
38 years$1,707$1,104$692$423$254$51
39 years$1,645$1,050$649$390$230$44
40 years$1,586$999$608$360$209$38
41 years$1,530$951$570$332$190$33
42 years$1,477$906$535$307$172$28
43 years$1,426$863$502$283$156$24
44 years$1,378$823$471$261$142$21
45 years$1,332$784$442$241$129$18
46 years$1,289$748$415$223$117$16
47 years$1,247$714$390$206$106$14
48 years$1,207$682$367$190$96$12
49 years$1,169$651$345$176$87$10
50 years$1,133$622$324$163$79$9

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 $2,610 every year, while hoping to spend $36,129 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: 76/7/17 Blend
58$1,160,000$1,160,000$1,160,000$1,160,000
59$1,281,012$1,219,532$1,201,552$1,373,297
60$1,373,234$1,240,848$1,203,363$1,455,982
61$1,473,653$1,261,998$1,204,024$1,541,859
62$1,583,064$1,282,935$1,203,458$1,635,039
63$1,702,347$1,303,610$1,201,585$1,736,242
64$1,832,469$1,323,968$1,198,319$1,846,257
65$1,974,491$1,343,954$1,193,574$1,965,957
66$2,129,586$1,363,504$1,187,256$2,096,300
67$2,299,043$1,382,554$1,179,267$2,238,345
68$2,484,279$1,401,033$1,169,506$2,393,256
69$2,686,857$1,418,866$1,157,867$2,562,319
70$2,908,498$1,435,972$1,144,237$2,746,947
71$3,151,095$1,452,264$1,128,499$2,948,701
72$3,416,733$1,467,652$1,110,530$3,169,299
73$3,707,710$1,482,037$1,090,203$3,410,635
74$4,026,554$1,495,315$1,067,383$3,674,796
75$4,376,052$1,507,374$1,041,928$3,964,082
76$4,759,269$1,518,095$1,013,693$4,281,028
77$5,179,586$1,527,353$982,524$4,628,428
78$5,640,724$1,535,014$948,258$5,009,360
79$6,146,781$1,540,933$910,728$5,427,218
80$6,702,274$1,544,960$869,759$5,885,740
81$7,312,175$1,546,932$825,165$6,389,050
82$7,981,964$1,546,678$776,755$6,941,688
83$8,717,675$1,544,017$724,327$7,548,662
84$9,525,958$1,538,754$667,672$8,215,489
85$10,414,137$1,530,684$606,570$8,948,249
86$11,390,280$1,519,589$540,792$9,753,646
87$12,463,279$1,505,238$470,098$10,639,064
88$13,642,925$1,487,387$394,238$11,612,645
89$14,940,010$1,465,775$312,952$12,683,361
90$16,366,421$1,440,128$225,966$13,861,100
91$17,935,256$1,410,154$132,995$15,156,761
92$19,660,944$1,375,544$33,743$16,582,354
93$21,559,386$1,335,972$0$18,151,119
94$23,648,100$1,291,091$0$19,890,735
95$25,946,386$1,240,534$0$21,811,574
96$28,475,513$1,183,915$0$23,925,291
97$31,258,912$1,120,824$0$26,251,482
98$34,322,403$1,050,826$0$28,811,737
99$37,694,435$973,464$0$31,629,850
100$41,406,355$888,252$0$34,732,039