Can I retire at age 59 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$101,572$100,667$99,785$98,923$98,082$97,301
2 years$50,283$49,347$48,439$47,559$46,706$45,918
3 years$33,189$32,249$31,343$30,472$29,632$28,863
4 years$24,644$23,706$22,810$21,953$21,134$20,389
5 years$19,518$18,586$17,701$16,862$16,066$15,347
6 years$16,102$15,177$14,305$13,485$12,712$12,020
7 years$13,663$12,745$11,888$11,087$10,338$9,674
8 years$11,834$10,925$10,082$9,300$8,577$7,940
9 years$10,413$9,512$8,683$7,922$7,223$6,613
10 years$9,276$8,385$7,570$6,829$6,154$5,571
11 years$8,347$7,464$6,665$5,943$5,293$4,737
12 years$7,573$6,700$5,915$5,213$4,587$4,056
13 years$6,919$6,055$5,285$4,602$4,000$3,495
14 years$6,359$5,503$4,748$4,085$3,506$3,026
15 years$5,873$5,027$4,287$3,643$3,087$2,631
16 years$5,449$4,613$3,887$3,262$2,728$2,296
17 years$5,076$4,248$3,537$2,931$2,419$2,009
18 years$4,744$3,925$3,229$2,641$2,151$1,763
19 years$4,447$3,638$2,956$2,387$1,917$1,550
20 years$4,180$3,381$2,713$2,162$1,712$1,366
21 years$3,939$3,149$2,495$1,962$1,532$1,206
22 years$3,721$2,939$2,300$1,784$1,374$1,066
23 years$3,521$2,749$2,123$1,625$1,233$943
24 years$3,339$2,576$1,964$1,482$1,108$836
25 years$3,171$2,417$1,819$1,353$997$741
26 years$3,017$2,272$1,687$1,237$898$658
27 years$2,874$2,138$1,566$1,132$810$584
28 years$2,741$2,015$1,456$1,038$731$519
29 years$2,618$1,901$1,355$951$660$462
30 years$2,504$1,795$1,262$873$596$411
31 years$2,397$1,697$1,177$802$539$366
32 years$2,297$1,606$1,098$737$488$326
33 years$2,203$1,520$1,025$678$441$290
34 years$2,115$1,441$958$624$400$259
35 years$2,032$1,367$895$574$362$231
36 years$1,954$1,297$838$529$328$206
37 years$1,880$1,232$784$487$297$184
38 years$1,810$1,171$734$449$269$164
39 years$1,744$1,113$688$414$244$146
40 years$1,682$1,059$645$382$222$130
41 years$1,622$1,008$605$352$201$116
42 years$1,566$960$567$325$182$104
43 years$1,512$915$532$300$166$93
44 years$1,461$872$500$277$150$83
45 years$1,413$832$469$256$136$74
46 years$1,366$793$441$236$124$66
47 years$1,322$757$414$218$112$59
48 years$1,280$723$389$202$102$53
49 years$1,240$690$366$187$93$47
50 years$1,201$659$344$172$84$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,230,000, adding $5,454 every year, while hoping to spend $24,199 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: 70/18/12 Blend
58$1,230,000$1,230,000$1,230,000$1,230,000
59$1,361,086$1,295,896$1,276,831$1,452,511
60$1,474,169$1,333,647$1,293,857$1,551,626
61$1,597,976$1,372,437$1,310,643$1,656,605
62$1,733,574$1,412,291$1,327,154$1,770,849
63$1,882,140$1,453,236$1,343,356$1,895,266
64$2,044,970$1,495,296$1,359,210$2,030,857
65$2,223,491$1,538,499$1,374,677$2,178,721
66$2,419,274$1,582,872$1,389,715$2,340,070
67$2,634,049$1,628,442$1,404,280$2,516,241
68$2,869,724$1,675,238$1,418,325$2,708,704
69$3,128,398$1,723,287$1,431,801$2,919,077
70$3,412,385$1,772,618$1,444,657$3,149,143
71$3,724,232$1,823,260$1,456,837$3,400,869
72$4,066,747$1,875,244$1,468,285$3,676,416
73$4,443,022$1,928,597$1,478,939$3,978,169
74$4,856,464$1,983,352$1,488,736$4,308,754
75$5,310,824$2,039,537$1,497,610$4,671,062
76$5,810,237$2,097,183$1,505,489$5,068,281
77$6,359,259$2,156,323$1,512,300$5,503,919
78$6,962,906$2,216,986$1,517,966$5,981,846
79$7,626,708$2,279,204$1,522,403$6,506,321
80$8,356,756$2,343,008$1,525,528$7,082,038
81$9,159,761$2,408,431$1,527,248$7,714,169
82$10,043,117$2,475,505$1,527,471$8,408,413
83$11,014,970$2,544,260$1,526,097$9,171,048
84$12,084,297$2,614,729$1,523,021$10,008,991
85$13,260,989$2,686,943$1,518,135$10,929,864
86$14,555,941$2,760,935$1,511,325$11,942,065
87$15,981,163$2,836,736$1,502,469$13,054,849
88$17,549,883$2,914,378$1,491,444$14,278,410
89$19,276,680$2,993,891$1,478,116$15,623,985
90$21,177,616$3,075,307$1,462,348$17,103,952
91$23,270,391$3,158,656$1,443,995$18,731,954
92$25,574,509$3,243,967$1,422,906$20,523,022
93$28,111,458$3,331,271$1,398,923$22,493,719
94$30,904,919$3,420,595$1,371,879$24,662,298
95$33,980,985$3,511,969$1,341,601$27,048,869
96$37,368,408$3,605,418$1,307,908$29,675,596
97$41,098,871$3,700,969$1,270,608$32,566,900
98$45,207,287$3,798,647$1,229,504$35,749,693
99$49,732,125$3,898,476$1,184,388$39,253,630
100$54,715,778$4,000,478$1,135,041$43,111,389