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%12.1%
1 years$100,746$99,849$98,974$98,119$97,285$96,429
2 years$49,874$48,946$48,045$47,173$46,326$45,464
3 years$32,919$31,987$31,089$30,224$29,391$28,549
4 years$24,443$23,513$22,625$21,775$20,962$20,147
5 years$19,359$18,435$17,558$16,725$15,935$15,149
6 years$15,971$15,053$14,189$13,375$12,609$11,853
7 years$13,552$12,642$11,791$10,996$10,254$9,528
8 years$11,738$10,836$10,000$9,225$8,507$7,811
9 years$10,328$9,435$8,613$7,857$7,164$6,499
10 years$9,201$8,317$7,509$6,773$6,104$5,468
11 years$8,279$7,404$6,611$5,895$5,250$4,643
12 years$7,512$6,645$5,867$5,170$4,549$3,971
13 years$6,863$6,005$5,242$4,565$3,967$3,417
14 years$6,307$5,459$4,710$4,052$3,478$2,955
15 years$5,826$4,987$4,252$3,614$3,062$2,566
16 years$5,405$4,575$3,855$3,236$2,706$2,236
17 years$5,034$4,213$3,508$2,907$2,399$1,954
18 years$4,705$3,893$3,202$2,620$2,133$1,712
19 years$4,411$3,608$2,932$2,367$1,902$1,504
20 years$4,146$3,353$2,691$2,144$1,699$1,323
21 years$3,907$3,123$2,475$1,946$1,520$1,166
22 years$3,690$2,915$2,281$1,769$1,362$1,029
23 years$3,493$2,727$2,106$1,611$1,223$909
24 years$3,312$2,555$1,948$1,470$1,099$804
25 years$3,145$2,398$1,804$1,342$989$712
26 years$2,992$2,253$1,673$1,227$891$631
27 years$2,850$2,121$1,554$1,123$803$560
28 years$2,719$1,998$1,444$1,029$725$497
29 years$2,597$1,885$1,344$944$655$441
30 years$2,483$1,780$1,252$866$591$392
31 years$2,377$1,683$1,167$795$535$348
32 years$2,278$1,592$1,089$731$484$310
33 years$2,185$1,508$1,017$672$438$276
34 years$2,097$1,429$950$619$396$245
35 years$2,015$1,356$888$569$359$218
36 years$1,938$1,287$831$524$325$194
37 years$1,864$1,222$778$483$295$173
38 years$1,795$1,161$728$445$267$154
39 years$1,730$1,104$682$411$242$137
40 years$1,668$1,051$640$379$220$122
41 years$1,609$1,000$600$349$199$109
42 years$1,553$953$563$323$181$97
43 years$1,500$908$528$298$164$87
44 years$1,450$865$495$275$149$77
45 years$1,401$825$465$254$135$69
46 years$1,355$787$437$234$123$61
47 years$1,312$751$411$217$112$55
48 years$1,270$717$386$200$101$49
49 years$1,230$685$363$185$92$43
50 years$1,191$654$341$171$84$39

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 $6,473 every year, while hoping to spend $35,250 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: 63/12/25 Blend
58$1,220,000$1,220,000$1,220,000$1,220,000
59$1,351,117$1,286,457$1,267,547$1,426,944
60$1,451,425$1,311,988$1,272,504$1,504,547
61$1,560,783$1,337,588$1,276,446$1,584,804
62$1,680,077$1,363,224$1,279,301$1,671,686
63$1,810,282$1,388,859$1,280,995$1,765,845
64$1,952,472$1,414,454$1,281,448$1,868,002
65$2,107,827$1,439,965$1,280,580$1,978,951
66$2,277,649$1,465,347$1,278,303$2,099,567
67$2,463,369$1,490,549$1,274,526$2,230,814
68$2,666,566$1,515,518$1,269,156$2,373,755
69$2,888,974$1,540,197$1,262,091$2,529,564
70$3,132,505$1,564,523$1,253,227$2,699,534
71$3,399,267$1,588,431$1,242,456$2,885,088
72$3,691,576$1,611,847$1,229,662$3,087,799
73$4,011,986$1,634,698$1,214,725$3,309,399
74$4,363,310$1,656,899$1,197,520$3,551,797
75$4,748,645$1,678,365$1,177,915$3,817,100
76$5,171,404$1,699,002$1,155,772$4,107,628
77$5,635,343$1,718,709$1,130,946$4,425,942
78$6,144,602$1,737,380$1,103,287$4,774,861
79$6,703,741$1,754,901$1,072,637$5,157,497
80$7,317,783$1,771,151$1,038,830$5,577,280
81$7,992,260$1,786,001$1,001,694$6,037,989
82$8,733,268$1,799,312$961,048$6,543,793
83$9,547,521$1,810,938$916,703$7,099,285
84$10,442,417$1,820,723$868,461$7,709,532
85$11,426,105$1,828,500$816,116$8,380,117
86$12,507,564$1,834,093$759,453$9,117,196
87$13,696,686$1,837,314$698,245$9,927,554
88$15,004,369$1,837,963$632,257$10,818,673
89$16,442,620$1,835,828$561,243$11,798,797
90$18,024,668$1,830,685$484,946$12,877,017
91$19,765,090$1,822,295$403,097$14,063,354
92$21,679,945$1,810,403$315,416$15,368,852
93$23,786,928$1,794,741$221,611$16,805,688
94$26,105,535$1,775,024$121,376$18,387,282
95$28,657,249$1,750,950$14,392$20,128,429
96$31,465,740$1,722,197$0$22,045,435
97$34,557,089$1,688,428$0$24,182,892
98$37,960,033$1,649,282$0$26,539,823
99$41,706,238$1,604,379$0$29,134,321
100$45,830,596$1,553,316$0$31,990,557