Can I retire at age 59 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$99,095$98,212$97,351$96,510$95,690$94,027
2 years$49,057$48,143$47,258$46,399$45,567$43,897
3 years$32,380$31,462$30,579$29,728$28,909$27,285
4 years$24,043$23,128$22,254$21,418$20,618$19,051
5 years$19,042$18,133$17,270$16,451$15,674$14,168
6 years$15,709$14,807$13,956$13,156$12,402$10,960
7 years$13,329$12,435$11,598$10,816$10,086$8,709
8 years$11,546$10,659$9,836$9,073$8,367$7,054
9 years$10,159$9,280$8,472$7,729$7,047$5,796
10 years$9,050$8,180$7,386$6,662$6,004$4,815
11 years$8,143$7,282$6,502$5,798$5,164$4,036
12 years$7,388$6,536$5,771$5,086$4,475$3,406
13 years$6,750$5,907$5,156$4,490$3,902$2,891
14 years$6,204$5,369$4,632$3,986$3,421$2,465
15 years$5,730$4,905$4,182$3,554$3,012$2,110
16 years$5,316$4,500$3,792$3,183$2,662$1,812
17 years$4,952$4,144$3,451$2,860$2,360$1,560
18 years$4,628$3,830$3,150$2,577$2,098$1,347
19 years$4,339$3,549$2,884$2,329$1,870$1,165
20 years$4,078$3,298$2,646$2,109$1,671$1,009
21 years$3,843$3,072$2,434$1,914$1,495$875
22 years$3,630$2,868$2,244$1,740$1,340$760
23 years$3,435$2,682$2,071$1,585$1,203$661
24 years$3,257$2,513$1,916$1,446$1,081$575
25 years$3,094$2,358$1,774$1,320$973$501
26 years$2,943$2,216$1,646$1,207$876$437
27 years$2,804$2,086$1,528$1,105$790$381
28 years$2,675$1,966$1,421$1,012$713$332
29 years$2,555$1,854$1,322$928$644$290
30 years$2,443$1,751$1,231$852$582$253
31 years$2,338$1,655$1,148$782$526$221
32 years$2,241$1,566$1,071$719$476$193
33 years$2,149$1,483$1,000$661$431$169
34 years$2,063$1,406$934$608$390$148
35 years$1,982$1,333$874$560$353$129
36 years$1,906$1,266$817$516$320$113
37 years$1,834$1,202$765$475$290$99
38 years$1,766$1,142$716$438$263$87
39 years$1,702$1,086$671$404$238$76
40 years$1,641$1,034$629$373$216$66
41 years$1,583$984$590$344$196$58
42 years$1,528$937$553$317$178$51
43 years$1,476$893$519$293$162$44
44 years$1,426$851$487$270$147$39
45 years$1,378$811$458$250$133$34
46 years$1,333$774$430$231$121$30
47 years$1,290$739$404$213$110$26
48 years$1,249$705$379$197$100$23
49 years$1,209$673$357$182$91$20
50 years$1,172$643$335$168$82$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,200,000, adding $6,160 every year, while hoping to spend $26,302 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: 35/48/17 Blend
58$1,200,000$1,200,000$1,200,000$1,200,000
59$1,328,754$1,265,154$1,246,554$1,368,132
60$1,436,302$1,299,161$1,260,328$1,431,385
61$1,553,938$1,333,954$1,273,683$1,496,680
62$1,682,664$1,369,541$1,286,575$1,566,573
63$1,823,581$1,405,935$1,298,962$1,641,487
64$1,977,905$1,443,145$1,310,795$1,721,887
65$2,146,972$1,481,179$1,322,028$1,808,286
66$2,332,255$1,520,048$1,332,607$1,901,246
67$2,535,374$1,559,760$1,342,479$2,001,388
68$2,758,117$1,600,323$1,351,586$2,109,395
69$3,002,449$1,641,743$1,359,868$2,226,018
70$3,270,538$1,684,027$1,367,263$2,352,086
71$3,564,769$1,727,181$1,373,703$2,488,510
72$3,887,773$1,771,210$1,379,119$2,636,294
73$4,242,444$1,816,118$1,383,438$2,796,544
74$4,631,972$1,861,906$1,386,582$2,970,478
75$5,059,871$1,908,577$1,388,470$3,159,439
76$5,530,012$1,956,132$1,389,018$3,364,904
77$6,046,659$2,004,569$1,388,136$3,588,503
78$6,614,511$2,053,885$1,385,732$3,832,030
79$7,238,744$2,104,078$1,381,706$4,097,462
80$7,925,058$2,155,141$1,375,956$4,386,978
81$8,679,738$2,207,066$1,368,374$4,702,978
82$9,509,705$2,259,846$1,358,848$5,048,108
83$10,422,584$2,313,467$1,347,259$5,425,281
84$11,426,777$2,367,917$1,333,482$5,837,712
85$12,531,543$2,423,179$1,317,388$6,288,938
86$13,747,080$2,479,235$1,298,840$6,782,862
87$15,084,628$2,536,064$1,277,697$7,323,782
88$16,556,570$2,593,640$1,253,810$7,916,436
89$18,176,548$2,651,937$1,227,021$8,566,045
90$19,959,598$2,710,923$1,197,167$9,278,364
91$21,922,283$2,770,565$1,164,079$10,059,734
92$24,082,857$2,830,823$1,127,576$10,917,145
93$26,461,431$2,891,656$1,087,472$11,858,299
94$29,080,166$2,953,017$1,043,572$12,891,688
95$31,963,482$3,014,854$995,671$14,026,667
96$35,138,286$3,077,110$943,555$15,273,550
97$38,634,227$3,139,725$887,000$16,643,701
98$42,483,978$3,202,631$825,774$18,149,647
99$46,723,538$3,265,755$759,632$19,805,194
100$51,392,579$3,329,017$688,320$21,625,560