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

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$96,618$95,757$94,917$94,098$93,297$92,285
2 years$47,830$46,940$46,076$45,239$44,427$43,408
3 years$31,570$30,676$29,814$28,985$28,187$27,192
4 years$23,442$22,550$21,697$20,882$20,103$19,140
5 years$18,566$17,679$16,838$16,040$15,282$14,354
6 years$15,316$14,436$13,608$12,827$12,092$11,201
7 years$12,996$12,124$11,308$10,546$9,834$8,980
8 years$11,257$10,392$9,590$8,847$8,158$7,340
9 years$9,905$9,048$8,260$7,535$6,870$6,089
10 years$8,824$7,976$7,201$6,496$5,854$5,108
11 years$7,940$7,100$6,340$5,653$5,035$4,324
12 years$7,204$6,373$5,626$4,958$4,363$3,687
13 years$6,581$5,759$5,027$4,378$3,805$3,162
14 years$6,048$5,235$4,517$3,886$3,335$2,725
15 years$5,587$4,782$4,078$3,466$2,936$2,358
16 years$5,184$4,388$3,697$3,103$2,595$2,048
17 years$4,828$4,041$3,364$2,788$2,301$1,784
18 years$4,512$3,734$3,071$2,513$2,046$1,557
19 years$4,230$3,461$2,812$2,270$1,824$1,363
20 years$3,976$3,216$2,580$2,056$1,629$1,195
21 years$3,747$2,995$2,373$1,866$1,458$1,049
22 years$3,539$2,796$2,187$1,697$1,307$922
23 years$3,350$2,615$2,020$1,545$1,173$812
24 years$3,176$2,450$1,868$1,409$1,054$715
25 years$3,016$2,299$1,730$1,287$949$631
26 years$2,869$2,161$1,605$1,177$855$557
27 years$2,734$2,034$1,490$1,077$770$492
28 years$2,608$1,916$1,385$987$695$435
29 years$2,491$1,808$1,289$905$628$385
30 years$2,382$1,707$1,201$831$567$340
31 years$2,280$1,614$1,119$763$513$301
32 years$2,185$1,527$1,044$701$464$267
33 years$2,095$1,446$975$645$420$236
34 years$2,011$1,371$911$593$380$209
35 years$1,933$1,300$852$546$344$186
36 years$1,858$1,234$797$503$312$165
37 years$1,788$1,172$746$463$283$146
38 years$1,722$1,114$698$427$256$129
39 years$1,659$1,059$654$394$232$115
40 years$1,600$1,008$613$363$211$102
41 years$1,543$959$575$335$191$90
42 years$1,490$914$539$309$174$80
43 years$1,439$870$506$286$157$71
44 years$1,390$830$475$264$143$63
45 years$1,344$791$446$243$130$56
46 years$1,300$755$419$225$118$50
47 years$1,258$720$394$208$107$44
48 years$1,218$688$370$192$97$39
49 years$1,179$657$348$177$88$35
50 years$1,142$627$327$164$80$31

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 $3,050 every year, while hoping to spend $40,406 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: 77/6/17 Blend
58$1,170,000$1,170,000$1,170,000$1,170,000
59$1,292,486$1,230,476$1,212,341$1,386,900
60$1,381,328$1,247,778$1,209,963$1,466,979
61$1,477,878$1,264,573$1,206,151$1,549,411
62$1,582,878$1,280,794$1,200,814$1,638,713
63$1,697,148$1,296,369$1,193,857$1,735,560
64$1,821,587$1,311,222$1,185,182$1,840,691
65$1,957,186$1,325,268$1,174,682$1,954,925
66$2,105,035$1,338,422$1,162,250$2,079,162
67$2,266,332$1,350,589$1,147,769$2,214,394
68$2,442,400$1,361,669$1,131,121$2,361,713
69$2,634,691$1,371,557$1,112,180$2,522,325
70$2,844,805$1,380,140$1,090,814$2,697,558
71$3,074,504$1,387,296$1,066,885$2,888,874
72$3,325,728$1,392,897$1,040,250$3,097,887
73$3,600,612$1,396,809$1,010,758$3,326,372
74$3,901,507$1,398,885$978,251$3,576,290
75$4,231,003$1,398,973$942,565$3,849,799
76$4,591,951$1,396,908$903,527$4,149,277
77$4,987,492$1,392,518$860,956$4,477,347
78$5,421,083$1,385,619$814,665$4,836,899
79$5,896,534$1,376,014$764,457$5,231,118
80$6,418,039$1,363,498$710,125$5,663,516
81$6,990,220$1,347,851$651,456$6,137,961
82$7,618,166$1,328,839$588,223$6,658,719
83$8,307,484$1,306,216$520,192$7,230,489
84$9,064,347$1,279,721$447,119$7,858,453
85$9,895,561$1,249,077$368,748$8,548,321
86$10,808,617$1,213,992$284,810$9,306,387
87$11,811,772$1,174,153$195,027$10,139,586
88$12,914,121$1,129,234$99,108$11,055,566
89$14,125,681$1,078,887$0$12,062,752
90$15,457,492$1,022,744$0$13,171,022
91$16,921,713$960,416$0$14,409,246
92$18,531,744$891,491$0$15,770,769
93$20,302,344$815,537$0$17,268,090
94$22,249,776$732,091$0$18,914,979
95$24,391,959$640,670$0$20,726,609
96$26,748,636$540,759$0$22,719,700
97$29,341,557$431,817$0$24,912,674
98$32,194,690$313,270$0$27,325,832
99$35,334,441$184,513$0$29,981,544
100$38,789,908$44,908$0$32,904,457