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%14.1%
1 years$97,443$96,575$95,728$94,902$94,095$92,498
2 years$48,239$47,341$46,470$45,626$44,807$43,203
3 years$31,840$30,938$30,069$29,233$28,427$26,866
4 years$23,642$22,743$21,883$21,061$20,275$18,769
5 years$18,725$17,830$16,982$16,177$15,413$13,966
6 years$15,447$14,560$13,724$12,937$12,195$10,810
7 years$13,107$12,227$11,405$10,636$9,918$8,594
8 years$11,353$10,481$9,672$8,922$8,228$6,965
9 years$9,989$9,126$8,331$7,600$6,929$5,726
10 years$8,899$8,044$7,263$6,551$5,904$4,760
11 years$8,008$7,161$6,394$5,701$5,078$3,992
12 years$7,265$6,427$5,675$5,001$4,400$3,371
13 years$6,638$5,808$5,070$4,415$3,837$2,863
14 years$6,100$5,280$4,555$3,919$3,364$2,443
15 years$5,635$4,823$4,113$3,495$2,962$2,093
16 years$5,228$4,425$3,729$3,130$2,617$1,798
17 years$4,869$4,075$3,393$2,812$2,321$1,550
18 years$4,551$3,766$3,097$2,534$2,064$1,339
19 years$4,266$3,490$2,836$2,290$1,839$1,158
20 years$4,010$3,243$2,602$2,074$1,643$1,004
21 years$3,779$3,021$2,394$1,882$1,470$872
22 years$3,569$2,820$2,206$1,711$1,318$758
23 years$3,378$2,637$2,037$1,558$1,183$659
24 years$3,203$2,471$1,884$1,421$1,063$574
25 years$3,042$2,319$1,745$1,298$957$501
26 years$2,894$2,179$1,618$1,187$862$437
27 years$2,757$2,051$1,503$1,086$777$381
28 years$2,630$1,933$1,397$995$701$333
29 years$2,512$1,823$1,300$913$633$291
30 years$2,402$1,722$1,211$838$572$254
31 years$2,299$1,628$1,129$769$517$222
32 years$2,203$1,540$1,053$707$468$194
33 years$2,113$1,459$983$650$423$170
34 years$2,029$1,382$919$598$383$149
35 years$1,949$1,311$859$551$347$130
36 years$1,874$1,245$804$507$315$114
37 years$1,803$1,182$752$467$285$100
38 years$1,736$1,123$704$431$258$87
39 years$1,673$1,068$660$397$234$77
40 years$1,613$1,016$619$366$213$67
41 years$1,556$967$580$338$193$59
42 years$1,502$921$544$312$175$51
43 years$1,451$878$511$288$159$45
44 years$1,402$837$479$266$144$39
45 years$1,355$798$450$246$131$35
46 years$1,311$761$423$227$119$30
47 years$1,269$726$397$210$108$27
48 years$1,228$693$373$194$98$23
49 years$1,189$662$351$179$89$20
50 years$1,152$633$330$165$81$18

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 $2,202 every year, while hoping to spend $43,636 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: 49/30/21 Blend
58$1,180,000$1,180,000$1,180,000$1,180,000
59$1,302,631$1,240,091$1,221,801$1,358,662
60$1,389,071$1,254,427$1,216,303$1,412,149
61$1,482,866$1,268,004$1,209,159$1,465,623
62$1,584,719$1,280,736$1,200,266$1,522,807
63$1,695,405$1,292,537$1,189,519$1,584,068
64$1,815,775$1,303,311$1,176,808$1,649,812
65$1,946,768$1,312,957$1,162,015$1,720,489
66$2,089,414$1,321,367$1,145,018$1,796,596
67$2,244,849$1,328,429$1,125,690$1,878,681
68$2,414,321$1,334,019$1,103,898$1,967,352
69$2,599,204$1,338,009$1,079,502$2,063,281
70$2,801,013$1,340,261$1,052,355$2,167,209
71$3,021,411$1,340,629$1,022,304$2,279,956
72$3,262,233$1,338,958$989,189$2,402,430
73$3,525,497$1,335,083$952,843$2,535,632
74$3,813,425$1,328,829$913,091$2,680,669
75$4,128,464$1,320,012$869,749$2,838,764
76$4,473,309$1,308,433$822,627$3,011,269
77$4,850,925$1,293,885$771,523$3,199,677
78$5,264,581$1,276,147$716,230$3,405,638
79$5,717,873$1,254,983$656,529$3,630,972
80$6,214,765$1,230,146$592,192$3,877,693
81$6,759,620$1,201,372$522,980$4,148,023
82$7,357,245$1,168,384$448,644$4,444,415
83$8,012,935$1,130,885$368,924$4,769,579
84$8,732,521$1,088,565$283,549$5,126,507
85$9,522,425$1,041,092$192,235$5,518,503
86$10,389,725$988,118$94,687$5,949,212
87$11,342,213$929,272$0$6,422,661
88$12,388,476$864,164$0$6,945,403
89$13,537,973$792,380$0$7,543,012
90$14,801,124$713,484$0$8,199,737
91$16,189,407$627,013$0$8,921,631
92$17,715,471$532,481$0$9,715,369
93$19,393,247$429,371$0$10,588,313
94$21,238,087$317,139$0$11,548,579
95$23,266,902$195,209$0$12,605,117
96$25,498,326$62,974$0$13,767,798
97$27,952,889$0$0$15,047,505
98$30,653,210$0$0$16,482,715
99$33,624,211$0$0$18,084,810
100$36,893,351$0$0$19,847,825