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%18.8%
1 years$101,572$100,667$99,785$98,923$98,082$94,602
2 years$50,283$49,347$48,439$47,559$46,706$43,237
3 years$33,189$32,249$31,343$30,472$29,632$26,283
4 years$24,644$23,706$22,810$21,953$21,134$17,931
5 years$19,518$18,586$17,701$16,862$16,066$13,016
6 years$16,102$15,177$14,305$13,485$12,712$9,819
7 years$13,663$12,745$11,888$11,087$10,338$7,601
8 years$11,834$10,925$10,082$9,300$8,577$5,993
9 years$10,413$9,512$8,683$7,922$7,223$4,789
10 years$9,276$8,385$7,570$6,829$6,154$3,867
11 years$8,347$7,464$6,665$5,943$5,293$3,146
12 years$7,573$6,700$5,915$5,213$4,587$2,576
13 years$6,919$6,055$5,285$4,602$4,000$2,120
14 years$6,359$5,503$4,748$4,085$3,506$1,752
15 years$5,873$5,027$4,287$3,643$3,087$1,452
16 years$5,449$4,613$3,887$3,262$2,728$1,206
17 years$5,076$4,248$3,537$2,931$2,419$1,005
18 years$4,744$3,925$3,229$2,641$2,151$838
19 years$4,447$3,638$2,956$2,387$1,917$700
20 years$4,180$3,381$2,713$2,162$1,712$586
21 years$3,939$3,149$2,495$1,962$1,532$491
22 years$3,721$2,939$2,300$1,784$1,374$411
23 years$3,521$2,749$2,123$1,625$1,233$345
24 years$3,339$2,576$1,964$1,482$1,108$289
25 years$3,171$2,417$1,819$1,353$997$243
26 years$3,017$2,272$1,687$1,237$898$204
27 years$2,874$2,138$1,566$1,132$810$171
28 years$2,741$2,015$1,456$1,038$731$144
29 years$2,618$1,901$1,355$951$660$121
30 years$2,504$1,795$1,262$873$596$102
31 years$2,397$1,697$1,177$802$539$86
32 years$2,297$1,606$1,098$737$488$72
33 years$2,203$1,520$1,025$678$441$61
34 years$2,115$1,441$958$624$400$51
35 years$2,032$1,367$895$574$362$43
36 years$1,954$1,297$838$529$328$36
37 years$1,880$1,232$784$487$297$30
38 years$1,810$1,171$734$449$269$26
39 years$1,744$1,113$688$414$244$22
40 years$1,682$1,059$645$382$222$18
41 years$1,622$1,008$605$352$201$15
42 years$1,566$960$567$325$182$13
43 years$1,512$915$532$300$166$11
44 years$1,461$872$500$277$150$9
45 years$1,413$832$469$256$136$8
46 years$1,366$793$441$236$124$6
47 years$1,322$757$414$218$112$5
48 years$1,280$723$389$202$102$5
49 years$1,240$690$366$187$93$4
50 years$1,201$659$344$172$84$3

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 $2,398 every year, while hoping to spend $28,683 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: 59/26/15 Blend
58$1,230,000$1,230,000$1,230,000$1,230,000
59$1,357,934$1,292,744$1,273,679$1,432,743
60$1,465,924$1,325,569$1,285,828$1,516,365
61$1,583,969$1,359,043$1,297,424$1,604,117
62$1,713,062$1,393,164$1,308,416$1,699,138
63$1,854,300$1,427,935$1,318,754$1,802,134
64$2,008,889$1,463,354$1,328,382$1,913,880
65$2,178,158$1,499,421$1,337,246$2,035,231
66$2,363,570$1,536,133$1,345,283$2,167,129
67$2,566,736$1,573,485$1,352,432$2,310,609
68$2,789,431$1,611,473$1,358,626$2,466,815
69$3,033,608$1,650,090$1,363,795$2,637,004
70$3,301,421$1,689,329$1,367,867$2,822,563
71$3,595,239$1,729,180$1,370,764$3,025,018
72$3,917,675$1,769,631$1,372,406$3,246,052
73$4,271,604$1,810,670$1,372,708$3,487,518
74$4,660,196$1,852,281$1,371,582$3,751,459
75$5,086,940$1,894,446$1,368,934$4,040,125
76$5,555,681$1,937,147$1,364,666$4,355,995
77$6,070,654$1,980,362$1,358,676$4,701,801
78$6,636,526$2,024,065$1,350,857$5,080,554
79$7,258,438$2,068,229$1,341,096$5,495,571
80$7,942,051$2,112,825$1,329,276$5,950,508
81$8,693,604$2,157,818$1,315,271$6,449,393
82$9,519,973$2,203,172$1,298,954$6,996,666
83$10,428,729$2,248,847$1,280,188$7,597,217
84$11,428,217$2,294,797$1,258,831$8,256,439
85$12,527,629$2,340,976$1,234,735$8,980,271
86$13,737,093$2,387,330$1,207,745$9,775,262
87$15,067,769$2,433,802$1,177,698$10,648,626
88$16,531,954$2,480,330$1,144,423$11,608,314
89$18,143,194$2,526,847$1,107,742$12,663,089
90$19,916,418$2,573,281$1,067,469$13,822,609
91$21,868,073$2,619,552$1,023,410$15,097,516
92$24,016,283$2,665,576$975,360$16,499,539
93$26,381,016$2,711,262$923,107$18,041,603
94$28,984,277$2,756,512$866,429$19,737,955
95$31,850,311$2,801,219$805,092$21,604,293
96$35,005,835$2,845,270$738,854$23,657,919
97$38,480,285$2,888,543$667,461$25,917,900
98$42,306,101$2,930,909$590,648$28,405,252
99$46,519,027$2,972,226$508,138$31,143,133
100$51,158,448$3,012,346$419,641$34,157,067