Can I retire at age 59 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$96,618$95,757$94,917$94,098$93,297$91,941
2 years$47,830$46,940$46,076$45,239$44,427$43,064
3 years$31,570$30,676$29,814$28,985$28,187$26,858
4 years$23,442$22,550$21,697$20,882$20,103$18,820
5 years$18,566$17,679$16,838$16,040$15,282$14,048
6 years$15,316$14,436$13,608$12,827$12,092$10,908
7 years$12,996$12,124$11,308$10,546$9,834$8,701
8 years$11,257$10,392$9,590$8,847$8,158$7,076
9 years$9,905$9,048$8,260$7,535$6,870$5,839
10 years$8,824$7,976$7,201$6,496$5,854$4,872
11 years$7,940$7,100$6,340$5,653$5,035$4,101
12 years$7,204$6,373$5,626$4,958$4,363$3,476
13 years$6,581$5,759$5,027$4,378$3,805$2,964
14 years$6,048$5,235$4,517$3,886$3,335$2,539
15 years$5,587$4,782$4,078$3,466$2,936$2,184
16 years$5,184$4,388$3,697$3,103$2,595$1,885
17 years$4,828$4,041$3,364$2,788$2,301$1,631
18 years$4,512$3,734$3,071$2,513$2,046$1,415
19 years$4,230$3,461$2,812$2,270$1,824$1,230
20 years$3,976$3,216$2,580$2,056$1,629$1,071
21 years$3,747$2,995$2,373$1,866$1,458$934
22 years$3,539$2,796$2,187$1,697$1,307$816
23 years$3,350$2,615$2,020$1,545$1,173$713
24 years$3,176$2,450$1,868$1,409$1,054$624
25 years$3,016$2,299$1,730$1,287$949$547
26 years$2,869$2,161$1,605$1,177$855$479
27 years$2,734$2,034$1,490$1,077$770$420
28 years$2,608$1,916$1,385$987$695$369
29 years$2,491$1,808$1,289$905$628$324
30 years$2,382$1,707$1,201$831$567$284
31 years$2,280$1,614$1,119$763$513$250
32 years$2,185$1,527$1,044$701$464$220
33 years$2,095$1,446$975$645$420$193
34 years$2,011$1,371$911$593$380$170
35 years$1,933$1,300$852$546$344$149
36 years$1,858$1,234$797$503$312$131
37 years$1,788$1,172$746$463$283$116
38 years$1,722$1,114$698$427$256$102
39 years$1,659$1,059$654$394$232$90
40 years$1,600$1,008$613$363$211$79
41 years$1,543$959$575$335$191$69
42 years$1,490$914$539$309$174$61
43 years$1,439$870$506$286$157$54
44 years$1,390$830$475$264$143$47
45 years$1,344$791$446$243$130$42
46 years$1,300$755$419$225$118$37
47 years$1,258$720$394$208$107$32
48 years$1,218$688$370$192$97$29
49 years$1,179$657$348$177$88$25
50 years$1,142$627$327$164$80$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,170,000, adding $3,257 every year, while hoping to spend $52,234 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: 72/23/5 Blend
58$1,170,000$1,170,000$1,170,000$1,170,000
59$1,292,700$1,230,690$1,212,555$1,384,977
60$1,368,978$1,235,417$1,197,599$1,450,958
61$1,451,287$1,238,625$1,180,391$1,516,301
62$1,540,185$1,240,185$1,160,801$1,586,356
63$1,636,288$1,239,958$1,138,692$1,661,572
64$1,740,273$1,237,799$1,113,921$1,742,443
65$1,852,881$1,233,552$1,086,339$1,829,512
66$1,974,932$1,227,053$1,055,788$1,923,382
67$2,107,323$1,218,126$1,022,104$2,024,714
68$2,251,043$1,206,587$985,118$2,134,240
69$2,407,178$1,192,239$944,648$2,252,765
70$2,576,926$1,174,874$900,509$2,381,178
71$2,761,600$1,154,270$852,504$2,520,460
72$2,962,648$1,130,195$800,428$2,671,693
73$3,181,663$1,102,399$744,067$2,836,069
74$3,420,398$1,070,622$683,199$3,014,905
75$3,680,781$1,034,585$617,589$3,209,652
76$3,964,936$993,995$546,993$3,421,911
77$4,275,199$948,540$471,157$3,653,449
78$4,614,143$897,892$389,814$3,906,214
79$4,984,599$841,703$302,686$4,182,354
80$5,389,687$779,604$209,485$4,484,240
81$5,832,837$711,208$109,905$4,814,487
82$6,317,832$636,102$3,632$5,175,979
83$6,848,832$553,852$0$5,571,896
84$7,430,422$464,000$0$6,011,604
85$8,067,648$366,060$0$6,493,703
86$8,766,071$259,519$0$7,022,286
87$9,531,811$143,836$0$7,602,080
88$10,371,612$18,441$0$8,238,299
89$11,292,902$0$0$8,936,688
90$12,303,859$0$0$9,733,266
91$13,413,495$0$0$10,612,778
92$14,631,735$0$0$11,578,433
93$15,969,512$0$0$12,638,903
94$17,438,871$0$0$13,803,745
95$19,053,080$0$0$15,083,485
96$20,826,754$0$0$16,489,718
97$22,775,996$0$0$18,035,220
98$24,918,546$0$0$19,734,066
99$27,273,946$0$0$21,601,760
100$29,863,730$0$0$23,655,385