Can I retire at age 59 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$98,269$97,394$96,540$95,706$94,892$92,299
2 years$48,648$47,742$46,864$46,013$45,187$42,593
3 years$32,110$31,200$30,324$29,481$28,668$26,155
4 years$23,842$22,935$22,068$21,239$20,447$18,033
5 years$18,883$17,982$17,126$16,314$15,543$13,237
6 years$15,578$14,683$13,840$13,046$12,299$10,101
7 years$13,218$12,331$11,501$10,726$10,002$7,914
8 years$11,449$10,570$9,754$8,998$8,298$6,317
9 years$10,074$9,203$8,401$7,664$6,988$5,113
10 years$8,975$8,112$7,324$6,607$5,954$4,183
11 years$8,076$7,222$6,448$5,750$5,121$3,450
12 years$7,327$6,482$5,723$5,043$4,437$2,865
13 years$6,694$5,858$5,113$4,452$3,870$2,391
14 years$6,152$5,324$4,594$3,952$3,392$2,005
15 years$5,682$4,864$4,148$3,525$2,987$1,686
16 years$5,272$4,463$3,760$3,156$2,640$1,423
17 years$4,910$4,110$3,422$2,836$2,340$1,203
18 years$4,589$3,798$3,124$2,556$2,081$1,020
19 years$4,302$3,520$2,860$2,309$1,855$866
20 years$4,044$3,271$2,624$2,091$1,657$736
21 years$3,811$3,046$2,414$1,898$1,483$626
22 years$3,600$2,844$2,225$1,726$1,329$533
23 years$3,407$2,660$2,054$1,572$1,193$455
24 years$3,230$2,492$1,900$1,433$1,072$388
25 years$3,068$2,339$1,760$1,309$965$331
26 years$2,919$2,198$1,632$1,197$869$283
27 years$2,780$2,069$1,515$1,096$784$242
28 years$2,652$1,949$1,409$1,004$707$207
29 years$2,533$1,839$1,311$921$638$177
30 years$2,422$1,737$1,221$845$577$151
31 years$2,319$1,642$1,138$776$522$130
32 years$2,222$1,553$1,062$713$472$111
33 years$2,131$1,471$992$656$427$95
34 years$2,046$1,394$927$603$387$81
35 years$1,966$1,322$866$555$350$70
36 years$1,890$1,255$810$512$317$60
37 years$1,819$1,192$759$471$288$51
38 years$1,751$1,133$710$434$261$44
39 years$1,687$1,077$666$401$236$37
40 years$1,627$1,025$624$369$214$32
41 years$1,570$976$585$341$195$27
42 years$1,515$929$549$315$176$24
43 years$1,463$885$515$290$160$20
44 years$1,414$844$483$268$145$17
45 years$1,367$805$454$248$132$15
46 years$1,322$768$426$229$120$13
47 years$1,279$733$400$211$109$11
48 years$1,238$699$376$195$99$9
49 years$1,199$668$354$180$90$8
50 years$1,162$638$333$167$82$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,190,000, adding $3,947 every year, while hoping to spend $47,433 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: 62/18/20 Blend
58$1,190,000$1,190,000$1,190,000$1,190,000
59$1,315,451$1,252,381$1,233,936$1,389,978
60$1,399,159$1,263,280$1,224,805$1,451,636
61$1,489,815$1,273,122$1,213,778$1,513,280
62$1,588,078$1,281,807$1,200,741$1,579,492
63$1,694,673$1,289,226$1,185,577$1,650,721
64$1,810,395$1,295,264$1,168,159$1,727,465
65$1,936,122$1,299,798$1,148,359$1,810,271
66$2,072,816$1,302,698$1,126,039$1,899,746
67$2,221,538$1,303,825$1,101,056$1,996,559
68$2,383,454$1,303,032$1,073,261$2,101,447
69$2,559,849$1,300,163$1,042,497$2,215,227
70$2,752,134$1,295,051$1,008,601$2,338,798
71$2,961,864$1,287,522$971,402$2,473,154
72$3,190,751$1,277,387$930,720$2,619,392
73$3,440,678$1,264,449$886,370$2,778,723
74$3,713,718$1,248,498$838,154$2,952,484
75$4,012,154$1,229,311$785,869$3,142,151
76$4,338,499$1,206,652$729,301$3,349,351
77$4,695,520$1,180,273$668,226$3,575,883
78$5,086,263$1,149,907$602,413$3,823,729
79$5,514,085$1,115,274$531,616$4,095,080
80$5,982,678$1,076,079$455,582$4,392,350
81$6,496,112$1,032,008$374,044$4,718,206
82$7,058,866$982,728$286,726$5,075,589
83$7,675,877$927,887$193,338$5,467,744
84$8,352,578$867,116$93,576$5,898,254
85$9,094,956$800,020$0$6,371,068
86$9,909,605$726,184$0$6,893,295
87$10,803,788$645,170$0$7,488,484
88$11,785,504$556,513$0$8,142,021
89$12,863,567$459,724$0$8,859,836
90$14,047,684$354,284$0$9,648,464
91$15,348,551$239,646$0$10,515,106
92$16,777,948$115,234$0$11,467,704
93$18,348,854$0$0$12,515,009
94$20,075,569$0$0$13,670,543
95$21,973,846$0$0$14,966,076
96$24,061,039$0$0$16,390,640
97$26,356,271$0$0$17,957,296
98$28,880,609$0$0$19,680,438
99$31,657,263$0$0$21,575,922
100$34,711,806$0$0$23,661,221