Can I retire at age 59 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$97,443$96,575$95,728$94,902$94,095$92,422
2 years$48,239$47,341$46,470$45,626$44,807$43,127
3 years$31,840$30,938$30,069$29,233$28,427$26,793
4 years$23,642$22,743$21,883$21,061$20,275$18,699
5 years$18,725$17,830$16,982$16,177$15,413$13,899
6 years$15,447$14,560$13,724$12,937$12,195$10,746
7 years$13,107$12,227$11,405$10,636$9,918$8,534
8 years$11,353$10,481$9,672$8,922$8,228$6,908
9 years$9,989$9,126$8,331$7,600$6,929$5,673
10 years$8,899$8,044$7,263$6,551$5,904$4,710
11 years$8,008$7,161$6,394$5,701$5,078$3,945
12 years$7,265$6,427$5,675$5,001$4,400$3,327
13 years$6,638$5,808$5,070$4,415$3,837$2,822
14 years$6,100$5,280$4,555$3,919$3,364$2,405
15 years$5,635$4,823$4,113$3,495$2,962$2,057
16 years$5,228$4,425$3,729$3,130$2,617$1,765
17 years$4,869$4,075$3,393$2,812$2,321$1,519
18 years$4,551$3,766$3,097$2,534$2,064$1,310
19 years$4,266$3,490$2,836$2,290$1,839$1,132
20 years$4,010$3,243$2,602$2,074$1,643$980
21 years$3,779$3,021$2,394$1,882$1,470$850
22 years$3,569$2,820$2,206$1,711$1,318$737
23 years$3,378$2,637$2,037$1,558$1,183$641
24 years$3,203$2,471$1,884$1,421$1,063$557
25 years$3,042$2,319$1,745$1,298$957$485
26 years$2,894$2,179$1,618$1,187$862$422
27 years$2,757$2,051$1,503$1,086$777$368
28 years$2,630$1,933$1,397$995$701$321
29 years$2,512$1,823$1,300$913$633$280
30 years$2,402$1,722$1,211$838$572$244
31 years$2,299$1,628$1,129$769$517$213
32 years$2,203$1,540$1,053$707$468$186
33 years$2,113$1,459$983$650$423$163
34 years$2,029$1,382$919$598$383$142
35 years$1,949$1,311$859$551$347$124
36 years$1,874$1,245$804$507$315$108
37 years$1,803$1,182$752$467$285$95
38 years$1,736$1,123$704$431$258$83
39 years$1,673$1,068$660$397$234$72
40 years$1,613$1,016$619$366$213$63
41 years$1,556$967$580$338$193$55
42 years$1,502$921$544$312$175$48
43 years$1,451$878$511$288$159$42
44 years$1,402$837$479$266$144$37
45 years$1,355$798$450$246$131$32
46 years$1,311$761$423$227$119$28
47 years$1,269$726$397$210$108$25
48 years$1,228$693$373$194$98$22
49 years$1,189$662$351$179$89$19
50 years$1,152$633$330$165$81$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,180,000, adding $4,904 every year, while hoping to spend $30,243 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: 70/13/17 Blend
58$1,180,000$1,180,000$1,180,000$1,180,000
59$1,305,418$1,242,878$1,224,588$1,391,223
60$1,406,393$1,271,601$1,233,434$1,477,694
61$1,516,653$1,300,718$1,241,562$1,568,232
62$1,637,114$1,330,215$1,248,917$1,666,557
63$1,768,784$1,360,080$1,255,440$1,773,436
64$1,912,771$1,390,296$1,261,068$1,889,710
65$2,070,298$1,420,844$1,265,738$2,016,309
66$2,242,709$1,451,706$1,269,381$2,154,254
67$2,431,485$1,482,859$1,271,925$2,304,673
68$2,638,256$1,514,279$1,273,294$2,468,807
69$2,864,820$1,545,940$1,273,411$2,648,024
70$3,113,152$1,577,812$1,272,191$2,843,832
71$3,385,433$1,609,864$1,269,548$3,057,891
72$3,684,060$1,642,060$1,265,392$3,292,031
73$4,011,677$1,674,364$1,259,625$3,548,270
74$4,371,193$1,706,733$1,252,148$3,828,828
75$4,765,816$1,739,124$1,242,856$4,136,155
76$5,199,076$1,771,488$1,231,638$4,472,949
77$5,674,864$1,803,773$1,218,380$4,842,184
78$6,197,465$1,835,922$1,202,960$5,247,137
79$6,771,599$1,867,876$1,185,253$5,691,418
80$7,402,468$1,899,568$1,165,125$6,179,009
81$8,095,801$1,930,928$1,142,438$6,714,294
82$8,857,910$1,961,880$1,117,046$7,302,107
83$9,695,749$1,992,344$1,088,799$7,947,774
84$10,616,978$2,022,232$1,057,537$8,657,166
85$11,630,039$2,051,451$1,023,094$9,436,753
86$12,744,232$2,079,901$985,296$10,293,664
87$13,969,802$2,107,474$943,962$11,235,756
88$15,318,038$2,134,057$898,901$12,271,689
89$16,801,379$2,159,527$849,915$13,411,006
90$18,433,529$2,183,753$796,797$14,664,226
91$20,229,588$2,206,596$739,329$16,042,939
92$22,206,194$2,227,908$677,284$17,559,919
93$24,381,680$2,247,529$610,427$19,229,246
94$26,776,244$2,265,290$538,509$21,066,435
95$29,412,144$2,281,013$461,273$23,088,585
96$32,313,905$2,294,505$378,447$25,314,542
97$35,508,550$2,305,562$289,752$27,765,074
98$39,025,855$2,313,968$194,892$30,463,070
99$42,898,632$2,319,491$93,560$33,433,754
100$47,163,034$2,321,888$0$36,704,927