Can I retire at age 59 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$102,398$101,486$100,596$99,727$98,879$95,106
2 years$50,692$49,748$48,833$47,946$47,085$43,329
3 years$33,459$32,511$31,598$30,719$29,873$26,251
4 years$24,844$23,899$22,995$22,132$21,306$17,845
5 years$19,677$18,737$17,845$16,999$16,196$12,907
6 years$16,233$15,300$14,422$13,594$12,815$9,699
7 years$13,774$12,849$11,985$11,177$10,422$7,478
8 years$11,930$11,014$10,164$9,376$8,646$5,872
9 years$10,497$9,590$8,754$7,986$7,282$4,672
10 years$9,352$8,453$7,632$6,884$6,204$3,755
11 years$8,415$7,525$6,719$5,991$5,336$3,042
12 years$7,635$6,754$5,963$5,255$4,624$2,479
13 years$6,975$6,104$5,328$4,640$4,032$2,030
14 years$6,410$5,548$4,787$4,118$3,535$1,669
15 years$5,921$5,068$4,322$3,673$3,112$1,377
16 years$5,494$4,650$3,918$3,289$2,750$1,138
17 years$5,117$4,283$3,566$2,955$2,439$943
18 years$4,782$3,957$3,255$2,663$2,168$783
19 years$4,483$3,668$2,980$2,406$1,933$650
20 years$4,214$3,408$2,735$2,179$1,726$541
21 years$3,971$3,174$2,515$1,978$1,545$451
22 years$3,751$2,963$2,318$1,798$1,385$376
23 years$3,550$2,771$2,141$1,638$1,243$313
24 years$3,366$2,597$1,980$1,494$1,117$262
25 years$3,197$2,437$1,834$1,364$1,005$218
26 years$3,041$2,290$1,701$1,247$906$182
27 years$2,897$2,155$1,579$1,142$817$152
28 years$2,764$2,031$1,468$1,046$737$127
29 years$2,640$1,916$1,366$959$665$106
30 years$2,524$1,810$1,272$880$601$89
31 years$2,416$1,711$1,186$809$543$74
32 years$2,315$1,619$1,107$743$492$62
33 years$2,221$1,533$1,033$683$445$52
34 years$2,132$1,453$966$629$403$44
35 years$2,048$1,378$903$579$365$36
36 years$1,969$1,308$844$533$331$30
37 years$1,895$1,242$790$491$300$25
38 years$1,825$1,180$740$453$272$21
39 years$1,758$1,123$693$417$246$18
40 years$1,695$1,068$650$385$223$15
41 years$1,635$1,017$609$355$203$12
42 years$1,579$968$572$328$184$10
43 years$1,525$922$536$303$167$9
44 years$1,473$879$504$279$152$7
45 years$1,424$839$473$258$138$6
46 years$1,378$800$444$238$125$5
47 years$1,333$763$417$220$113$4
48 years$1,290$729$392$203$103$4
49 years$1,250$696$369$188$94$3
50 years$1,211$665$346$174$85$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,240,000, adding $6,105 every year, while hoping to spend $35,167 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: 33/50/17 Blend
58$1,240,000$1,240,000$1,240,000$1,240,000
59$1,372,777$1,307,057$1,287,837$1,410,640
60$1,475,383$1,333,686$1,293,562$1,465,718
61$1,587,276$1,360,440$1,298,301$1,521,349
62$1,709,367$1,387,290$1,301,982$1,580,556
63$1,842,656$1,414,201$1,304,532$1,643,671
64$1,988,247$1,441,138$1,305,875$1,711,063
65$2,147,355$1,468,060$1,305,928$1,783,139
66$2,321,315$1,494,924$1,304,606$1,860,348
67$2,511,599$1,521,686$1,301,821$1,943,184
68$2,719,828$1,548,294$1,297,477$2,032,195
69$2,947,785$1,574,696$1,291,478$2,127,984
70$3,197,437$1,600,833$1,283,719$2,231,218
71$3,470,945$1,626,643$1,274,094$2,342,631
72$3,770,693$1,652,061$1,262,488$2,463,035
73$4,099,306$1,677,013$1,248,783$2,593,328
74$4,459,673$1,701,425$1,232,855$2,734,497
75$4,854,978$1,725,213$1,214,574$2,887,635
76$5,288,727$1,748,290$1,193,804$3,053,947
77$5,764,783$1,770,562$1,170,402$3,234,763
78$6,287,399$1,791,928$1,144,219$3,431,551
79$6,861,263$1,812,282$1,115,099$3,645,933
80$7,491,536$1,831,508$1,082,879$3,879,697
81$8,183,905$1,849,484$1,047,388$4,134,817
82$8,944,635$1,866,081$1,008,448$4,413,472
83$9,780,628$1,881,158$965,871$4,718,065
84$10,699,487$1,894,570$919,462$5,051,252
85$11,709,588$1,906,157$869,017$5,415,958
86$12,820,160$1,915,753$814,324$5,815,416
87$14,041,371$1,923,180$755,158$6,253,190
88$15,384,422$1,928,247$691,287$6,733,214
89$16,861,656$1,930,753$622,468$7,259,828
90$18,486,670$1,930,485$548,446$7,837,819
91$20,274,447$1,927,216$468,955$8,472,472
92$22,241,495$1,920,703$383,719$9,169,614
93$24,406,001$1,910,692$292,448$9,935,675
94$26,788,007$1,896,910$194,839$10,777,747
95$29,409,595$1,879,070$90,577$11,703,654
96$32,295,095$1,856,865$0$12,722,026
97$35,471,316$1,829,973$0$13,846,136
98$38,967,798$1,798,050$0$15,100,508
99$42,817,092$1,760,732$0$16,480,340
100$47,055,062$1,717,635$0$17,998,474