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

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$98,269$97,394$96,540$95,706$94,892$94,373
2 years$48,648$47,742$46,864$46,013$45,187$44,663
3 years$32,110$31,200$30,324$29,481$28,668$28,156
4 years$23,842$22,935$22,068$21,239$20,447$19,950
5 years$18,883$17,982$17,126$16,314$15,543$15,063
6 years$15,578$14,683$13,840$13,046$12,299$11,837
7 years$13,218$12,331$11,501$10,726$10,002$9,558
8 years$11,449$10,570$9,754$8,998$8,298$7,871
9 years$10,074$9,203$8,401$7,664$6,988$6,579
10 years$8,975$8,112$7,324$6,607$5,954$5,563
11 years$8,076$7,222$6,448$5,750$5,121$4,747
12 years$7,327$6,482$5,723$5,043$4,437$4,080
13 years$6,694$5,858$5,113$4,452$3,870$3,529
14 years$6,152$5,324$4,594$3,952$3,392$3,068
15 years$5,682$4,864$4,148$3,525$2,987$2,678
16 years$5,272$4,463$3,760$3,156$2,640$2,346
17 years$4,910$4,110$3,422$2,836$2,340$2,062
18 years$4,589$3,798$3,124$2,556$2,081$1,817
19 years$4,302$3,520$2,860$2,309$1,855$1,605
20 years$4,044$3,271$2,624$2,091$1,657$1,420
21 years$3,811$3,046$2,414$1,898$1,483$1,259
22 years$3,600$2,844$2,225$1,726$1,329$1,118
23 years$3,407$2,660$2,054$1,572$1,193$994
24 years$3,230$2,492$1,900$1,433$1,072$884
25 years$3,068$2,339$1,760$1,309$965$788
26 years$2,919$2,198$1,632$1,197$869$703
27 years$2,780$2,069$1,515$1,096$784$627
28 years$2,652$1,949$1,409$1,004$707$560
29 years$2,533$1,839$1,311$921$638$501
30 years$2,422$1,737$1,221$845$577$448
31 years$2,319$1,642$1,138$776$522$400
32 years$2,222$1,553$1,062$713$472$358
33 years$2,131$1,471$992$656$427$321
34 years$2,046$1,394$927$603$387$288
35 years$1,966$1,322$866$555$350$258
36 years$1,890$1,255$810$512$317$231
37 years$1,819$1,192$759$471$288$207
38 years$1,751$1,133$710$434$261$186
39 years$1,687$1,077$666$401$236$166
40 years$1,627$1,025$624$369$214$149
41 years$1,570$976$585$341$195$134
42 years$1,515$929$549$315$176$120
43 years$1,463$885$515$290$160$108
44 years$1,414$844$483$268$145$97
45 years$1,367$805$454$248$132$87
46 years$1,322$768$426$229$120$78
47 years$1,279$733$400$211$109$70
48 years$1,238$699$376$195$99$63
49 years$1,199$668$354$180$90$56
50 years$1,162$638$333$167$82$51

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 $6,819 every year, while hoping to spend $34,586 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: 57/20/23 Blend
58$1,190,000$1,190,000$1,190,000$1,190,000
59$1,318,414$1,255,344$1,236,899$1,385,005
60$1,416,093$1,280,056$1,241,536$1,455,963
61$1,522,576$1,304,821$1,245,169$1,528,996
62$1,638,724$1,329,603$1,247,728$1,607,852
63$1,765,487$1,354,366$1,249,139$1,693,101
64$1,903,907$1,379,070$1,249,326$1,785,371
65$2,055,133$1,403,673$1,248,206$1,885,358
66$2,220,432$1,428,127$1,245,696$1,993,824
67$2,401,194$1,452,384$1,241,704$2,111,614
68$2,598,953$1,476,388$1,236,140$2,239,657
69$2,815,399$1,500,084$1,228,903$2,378,979
70$3,052,390$1,523,408$1,219,891$2,530,709
71$3,311,973$1,546,294$1,208,996$2,696,095
72$3,596,403$1,568,671$1,196,107$2,876,511
73$3,908,163$1,590,463$1,181,103$3,073,473
74$4,249,988$1,611,588$1,163,862$3,288,651
75$4,624,889$1,631,959$1,144,254$3,523,890
76$5,036,185$1,651,481$1,122,144$3,781,221
77$5,487,528$1,670,057$1,097,389$4,062,885
78$5,982,945$1,687,579$1,069,840$4,371,353
79$6,526,869$1,703,933$1,039,343$4,709,348
80$7,124,183$1,719,000$1,005,735$5,079,875
81$7,780,268$1,732,649$968,845$5,486,246
82$8,501,051$1,744,744$928,496$5,932,113
83$9,293,059$1,755,138$884,502$6,421,502
84$10,163,487$1,763,675$836,669$6,958,852
85$11,120,259$1,770,191$784,793$7,549,059
86$12,172,104$1,774,509$728,663$8,197,519
87$13,328,641$1,776,443$668,055$8,910,182
88$14,600,467$1,775,793$602,740$9,693,607
89$15,999,257$1,772,349$532,474$10,555,026
90$17,537,873$1,765,887$457,004$11,502,413
91$19,230,490$1,756,169$376,067$12,544,558
92$21,092,722$1,742,943$289,387$13,691,150
93$23,141,774$1,725,941$196,676$14,952,874
94$25,396,603$1,704,881$97,634$16,341,505
95$27,878,098$1,679,462$0$17,870,027
96$30,609,273$1,649,364$0$19,554,732
97$33,615,488$1,614,252$0$21,435,115
98$36,924,685$1,573,767$0$23,504,668
99$40,567,653$1,527,532$0$25,782,651
100$44,578,318$1,475,146$0$28,290,290