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%11.7%
1 years$100,746$99,849$98,974$98,119$97,285$96,590
2 years$49,874$48,946$48,045$47,173$46,326$45,626
3 years$32,919$31,987$31,089$30,224$29,391$28,707
4 years$24,443$23,513$22,625$21,775$20,962$20,299
5 years$19,359$18,435$17,558$16,725$15,935$15,295
6 years$15,971$15,053$14,189$13,375$12,609$11,993
7 years$13,552$12,642$11,791$10,996$10,254$9,663
8 years$11,738$10,836$10,000$9,225$8,507$7,939
9 years$10,328$9,435$8,613$7,857$7,164$6,621
10 years$9,201$8,317$7,509$6,773$6,104$5,585
11 years$8,279$7,404$6,611$5,895$5,250$4,754
12 years$7,512$6,645$5,867$5,170$4,549$4,076
13 years$6,863$6,005$5,242$4,565$3,967$3,516
14 years$6,307$5,459$4,710$4,052$3,478$3,049
15 years$5,826$4,987$4,252$3,614$3,062$2,654
16 years$5,405$4,575$3,855$3,236$2,706$2,319
17 years$5,034$4,213$3,508$2,907$2,399$2,033
18 years$4,705$3,893$3,202$2,620$2,133$1,786
19 years$4,411$3,608$2,932$2,367$1,902$1,573
20 years$4,146$3,353$2,691$2,144$1,699$1,388
21 years$3,907$3,123$2,475$1,946$1,520$1,227
22 years$3,690$2,915$2,281$1,769$1,362$1,086
23 years$3,493$2,727$2,106$1,611$1,223$962
24 years$3,312$2,555$1,948$1,470$1,099$854
25 years$3,145$2,398$1,804$1,342$989$759
26 years$2,992$2,253$1,673$1,227$891$674
27 years$2,850$2,121$1,554$1,123$803$600
28 years$2,719$1,998$1,444$1,029$725$534
29 years$2,597$1,885$1,344$944$655$476
30 years$2,483$1,780$1,252$866$591$424
31 years$2,377$1,683$1,167$795$535$378
32 years$2,278$1,592$1,089$731$484$337
33 years$2,185$1,508$1,017$672$438$301
34 years$2,097$1,429$950$619$396$269
35 years$2,015$1,356$888$569$359$240
36 years$1,938$1,287$831$524$325$214
37 years$1,864$1,222$778$483$295$192
38 years$1,795$1,161$728$445$267$171
39 years$1,730$1,104$682$411$242$153
40 years$1,668$1,051$640$379$220$137
41 years$1,609$1,000$600$349$199$122
42 years$1,553$953$563$323$181$109
43 years$1,500$908$528$298$164$98
44 years$1,450$865$495$275$149$88
45 years$1,401$825$465$254$135$78
46 years$1,355$787$437$234$123$70
47 years$1,312$751$411$217$112$63
48 years$1,270$717$386$200$101$56
49 years$1,230$685$363$185$92$50
50 years$1,191$654$341$171$84$45

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 $5,953 every year, while hoping to spend $36,052 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: 44/48/8 Blend
58$1,220,000$1,220,000$1,220,000$1,220,000
59$1,350,581$1,285,921$1,267,011$1,406,676
60$1,449,981$1,310,572$1,271,096$1,470,786
61$1,558,311$1,335,222$1,274,111$1,536,061
62$1,676,445$1,359,834$1,275,980$1,605,978
63$1,805,343$1,384,367$1,276,626$1,680,975
64$1,946,063$1,408,775$1,275,967$1,761,537
65$2,099,768$1,433,012$1,273,919$1,848,197
66$2,267,740$1,457,025$1,270,390$1,941,543
67$2,451,390$1,480,760$1,265,289$2,042,224
68$2,652,270$1,504,156$1,258,515$2,150,954
69$2,872,092$1,527,150$1,249,965$2,268,522
70$3,112,738$1,549,673$1,239,532$2,395,798
71$3,376,283$1,571,652$1,227,102$2,533,742
72$3,665,010$1,593,009$1,212,555$2,683,412
73$3,981,433$1,613,659$1,195,769$2,845,974
74$4,328,324$1,633,512$1,176,611$3,022,715
75$4,708,732$1,652,474$1,154,947$3,215,056
76$5,126,017$1,670,440$1,130,632$3,424,562
77$5,583,881$1,687,301$1,103,519$3,652,961
78$6,086,400$1,702,942$1,073,450$3,902,157
79$6,638,065$1,717,238$1,040,262$4,174,252
80$7,243,820$1,730,056$1,003,784$4,471,564
81$7,909,117$1,741,255$963,837$4,796,649
82$8,639,955$1,750,685$920,234$5,152,326
83$9,442,949$1,758,187$872,780$5,541,705
84$10,325,382$1,763,591$821,271$5,968,217
85$11,295,280$1,766,716$765,492$6,435,643
86$12,361,484$1,767,370$705,222$6,948,157
87$13,533,734$1,765,350$640,225$7,510,359
88$14,822,763$1,760,440$570,260$8,127,324
89$16,240,392$1,752,409$495,072$8,804,649
90$17,799,650$1,741,015$414,394$9,548,505
91$19,514,888$1,725,998$327,951$10,365,700
92$21,401,920$1,707,086$235,451$11,263,738
93$23,478,170$1,683,987$136,592$12,250,897
94$25,762,834$1,656,393$31,059$13,336,305
95$28,277,066$1,623,980$0$14,530,027
96$31,044,172$1,586,400$0$15,850,123
97$34,089,833$1,543,288$0$17,305,153
98$37,442,344$1,494,257$0$18,905,986
99$41,132,884$1,438,898$0$20,667,535
100$45,195,810$1,376,775$0$22,606,240