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%17.2%
1 years$100,746$99,849$98,974$98,119$97,285$94,435
2 years$49,874$48,946$48,045$47,173$46,326$43,478
3 years$32,919$31,987$31,089$30,224$29,391$26,635
4 years$24,443$23,513$22,625$21,775$20,962$18,318
5 years$19,359$18,435$17,558$16,725$15,935$13,410
6 years$15,971$15,053$14,189$13,375$12,609$10,205
7 years$13,552$12,642$11,791$10,996$10,254$7,973
8 years$11,738$10,836$10,000$9,225$8,507$6,345
9 years$10,328$9,435$8,613$7,857$7,164$5,121
10 years$9,201$8,317$7,509$6,773$6,104$4,176
11 years$8,279$7,404$6,611$5,895$5,250$3,434
12 years$7,512$6,645$5,867$5,170$4,549$2,841
13 years$6,863$6,005$5,242$4,565$3,967$2,364
14 years$6,307$5,459$4,710$4,052$3,478$1,975
15 years$5,826$4,987$4,252$3,614$3,062$1,655
16 years$5,405$4,575$3,855$3,236$2,706$1,392
17 years$5,034$4,213$3,508$2,907$2,399$1,173
18 years$4,705$3,893$3,202$2,620$2,133$990
19 years$4,411$3,608$2,932$2,367$1,902$837
20 years$4,146$3,353$2,691$2,144$1,699$709
21 years$3,907$3,123$2,475$1,946$1,520$601
22 years$3,690$2,915$2,281$1,769$1,362$510
23 years$3,493$2,727$2,106$1,611$1,223$433
24 years$3,312$2,555$1,948$1,470$1,099$368
25 years$3,145$2,398$1,804$1,342$989$313
26 years$2,992$2,253$1,673$1,227$891$266
27 years$2,850$2,121$1,554$1,123$803$227
28 years$2,719$1,998$1,444$1,029$725$193
29 years$2,597$1,885$1,344$944$655$164
30 years$2,483$1,780$1,252$866$591$140
31 years$2,377$1,683$1,167$795$535$119
32 years$2,278$1,592$1,089$731$484$102
33 years$2,185$1,508$1,017$672$438$87
34 years$2,097$1,429$950$619$396$74
35 years$2,015$1,356$888$569$359$63
36 years$1,938$1,287$831$524$325$54
37 years$1,864$1,222$778$483$295$46
38 years$1,795$1,161$728$445$267$39
39 years$1,730$1,104$682$411$242$33
40 years$1,668$1,051$640$379$220$28
41 years$1,609$1,000$600$349$199$24
42 years$1,553$953$563$323$181$21
43 years$1,500$908$528$298$164$18
44 years$1,450$865$495$275$149$15
45 years$1,401$825$465$254$135$13
46 years$1,355$787$437$234$123$11
47 years$1,312$751$411$217$112$9
48 years$1,270$717$386$200$101$8
49 years$1,230$685$363$185$92$7
50 years$1,191$654$341$171$84$6

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 $3,359 every year, while hoping to spend $26,062 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: 26/49/25 Blend
58$1,220,000$1,220,000$1,220,000$1,220,000
59$1,347,905$1,283,245$1,264,335$1,372,271
60$1,457,661$1,318,394$1,278,960$1,427,402
61$1,577,740$1,354,392$1,293,202$1,484,041
62$1,709,165$1,391,253$1,307,020$1,544,267
63$1,853,066$1,428,991$1,320,372$1,608,400
64$2,010,686$1,467,619$1,333,212$1,676,790
65$2,183,395$1,507,151$1,345,493$1,749,826
66$2,372,700$1,547,600$1,357,166$1,827,934
67$2,580,262$1,588,980$1,368,178$1,911,581
68$2,807,911$1,631,301$1,378,473$2,001,284
69$3,057,659$1,674,577$1,387,994$2,097,612
70$3,331,728$1,718,818$1,396,679$2,201,191
71$3,632,560$1,764,036$1,404,464$2,312,709
72$3,962,849$1,810,242$1,411,281$2,432,927
73$4,325,560$1,857,444$1,417,059$2,562,681
74$4,723,960$1,905,651$1,421,724$2,702,892
75$5,161,648$1,954,873$1,425,196$2,854,576
76$5,642,590$2,005,115$1,427,394$3,018,850
77$6,171,153$2,056,385$1,428,230$3,196,947
78$6,752,150$2,108,687$1,427,615$3,390,226
79$7,390,881$2,162,025$1,425,452$3,600,183
80$8,093,189$2,216,402$1,421,643$3,828,467
81$8,865,508$2,271,819$1,416,082$4,076,896
82$9,714,928$2,328,277$1,408,659$4,347,472
83$10,649,261$2,385,772$1,399,259$4,642,404
84$11,677,113$2,444,303$1,387,762$4,964,124
85$12,807,967$2,503,862$1,374,040$5,315,314
86$14,052,272$2,564,444$1,357,963$5,698,929
87$15,421,540$2,626,037$1,339,391$6,118,228
88$16,928,455$2,688,631$1,318,178$6,576,801
89$18,586,993$2,752,210$1,294,173$7,078,606
90$20,412,556$2,816,757$1,267,217$7,628,006
91$22,422,110$2,882,253$1,237,143$8,229,809
92$24,634,355$2,948,673$1,203,777$8,889,315
93$27,069,893$3,015,991$1,166,936$9,612,368
94$29,751,424$3,084,177$1,126,431$10,405,406
95$32,703,964$3,153,197$1,082,062$11,275,529
96$35,955,078$3,223,012$1,033,620$12,230,559
97$39,535,136$3,293,580$980,887$13,279,123
98$43,477,610$3,364,855$923,636$14,430,726
99$47,819,376$3,436,784$861,628$15,695,847
100$52,601,076$3,509,309$794,615$17,086,036