Can I retire at age 59 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$100,746$99,849$98,974$98,119$97,285$95,831
2 years$49,874$48,946$48,045$47,173$46,326$44,865
3 years$32,919$31,987$31,089$30,224$29,391$27,968
4 years$24,443$23,513$22,625$21,775$20,962$19,587
5 years$19,359$18,435$17,558$16,725$15,935$14,613
6 years$15,971$15,053$14,189$13,375$12,609$11,341
7 years$13,552$12,642$11,791$10,996$10,254$9,042
8 years$11,738$10,836$10,000$9,225$8,507$7,349
9 years$10,328$9,435$8,613$7,857$7,164$6,060
10 years$9,201$8,317$7,509$6,773$6,104$5,053
11 years$8,279$7,404$6,611$5,895$5,250$4,251
12 years$7,512$6,645$5,867$5,170$4,549$3,601
13 years$6,863$6,005$5,242$4,565$3,967$3,069
14 years$6,307$5,459$4,710$4,052$3,478$2,627
15 years$5,826$4,987$4,252$3,614$3,062$2,258
16 years$5,405$4,575$3,855$3,236$2,706$1,947
17 years$5,034$4,213$3,508$2,907$2,399$1,684
18 years$4,705$3,893$3,202$2,620$2,133$1,460
19 years$4,411$3,608$2,932$2,367$1,902$1,268
20 years$4,146$3,353$2,691$2,144$1,699$1,104
21 years$3,907$3,123$2,475$1,946$1,520$962
22 years$3,690$2,915$2,281$1,769$1,362$839
23 years$3,493$2,727$2,106$1,611$1,223$733
24 years$3,312$2,555$1,948$1,470$1,099$641
25 years$3,145$2,398$1,804$1,342$989$561
26 years$2,992$2,253$1,673$1,227$891$491
27 years$2,850$2,121$1,554$1,123$803$430
28 years$2,719$1,998$1,444$1,029$725$377
29 years$2,597$1,885$1,344$944$655$331
30 years$2,483$1,780$1,252$866$591$291
31 years$2,377$1,683$1,167$795$535$255
32 years$2,278$1,592$1,089$731$484$224
33 years$2,185$1,508$1,017$672$438$197
34 years$2,097$1,429$950$619$396$173
35 years$2,015$1,356$888$569$359$152
36 years$1,938$1,287$831$524$325$134
37 years$1,864$1,222$778$483$295$117
38 years$1,795$1,161$728$445$267$103
39 years$1,730$1,104$682$411$242$91
40 years$1,668$1,051$640$379$220$80
41 years$1,609$1,000$600$349$199$70
42 years$1,553$953$563$323$181$62
43 years$1,500$908$528$298$164$54
44 years$1,450$865$495$275$149$48
45 years$1,401$825$465$254$135$42
46 years$1,355$787$437$234$123$37
47 years$1,312$751$411$217$112$33
48 years$1,270$717$386$200$101$29
49 years$1,230$685$363$185$92$25
50 years$1,191$654$341$171$84$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,220,000, adding $2,944 every year, while hoping to spend $41,725 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: 65/10/25 Blend
58$1,220,000$1,220,000$1,220,000$1,220,000
59$1,347,477$1,282,817$1,263,907$1,426,085
60$1,440,524$1,301,280$1,261,853$1,497,916
61$1,541,664$1,319,249$1,258,331$1,571,449
62$1,651,678$1,336,656$1,253,249$1,650,879
63$1,771,425$1,353,428$1,246,509$1,736,790
64$1,901,852$1,369,487$1,238,008$1,829,825
65$2,043,999$1,384,750$1,227,640$1,930,693
66$2,199,012$1,399,128$1,215,291$2,040,177
67$2,368,152$1,412,526$1,200,844$2,159,138
68$2,552,806$1,424,843$1,184,175$2,288,530
69$2,754,503$1,435,971$1,165,156$2,429,401
70$2,974,925$1,445,796$1,143,650$2,582,910
71$3,215,922$1,454,195$1,119,518$2,750,335
72$3,479,534$1,461,039$1,092,610$2,933,082
73$3,768,006$1,466,189$1,062,772$3,132,707
74$4,083,809$1,469,499$1,029,841$3,350,921
75$4,429,665$1,470,811$993,648$3,589,616
76$4,808,571$1,469,962$954,016$3,850,875
77$5,223,829$1,466,774$910,759$4,136,996
78$5,679,075$1,461,060$863,684$4,450,515
79$6,178,311$1,452,623$812,588$4,794,225
80$6,725,948$1,441,251$757,259$5,171,209
81$7,326,844$1,426,721$697,476$5,584,868
82$7,986,349$1,408,797$633,009$6,038,947
83$8,710,357$1,387,229$563,615$6,537,582
84$9,505,359$1,361,749$489,042$7,085,329
85$10,378,508$1,332,077$409,028$7,687,214
86$11,337,682$1,297,915$323,296$8,348,777
87$12,391,560$1,258,947$231,561$9,076,129
88$13,549,702$1,214,838$133,521$9,876,005
89$14,822,642$1,165,236$28,864$10,755,833
90$16,221,984$1,109,765$0$11,723,802
91$17,760,513$1,048,031$0$12,811,033
92$19,452,315$979,614$0$14,015,040
93$21,312,908$904,071$0$15,339,183
94$23,359,390$820,936$0$16,795,661
95$25,610,598$729,712$0$18,397,915
96$28,087,289$629,878$0$20,160,756
97$30,812,332$520,882$0$22,100,507
98$33,810,923$402,138$0$24,235,154
99$37,110,826$273,032$0$26,584,519
100$40,742,632$132,912$0$29,170,444