Can I retire at age 42 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%11.6%
1 years$102,398$101,486$100,596$99,727$98,879$98,215
2 years$50,692$49,748$48,833$47,946$47,085$46,415
3 years$33,459$32,511$31,598$30,719$29,873$29,218
4 years$24,844$23,899$22,995$22,132$21,306$20,671
5 years$19,677$18,737$17,845$16,999$16,196$15,583
6 years$16,233$15,300$14,422$13,594$12,815$12,225
7 years$13,774$12,849$11,985$11,177$10,422$9,855
8 years$11,930$11,014$10,164$9,376$8,646$8,103
9 years$10,497$9,590$8,754$7,986$7,282$6,761
10 years$9,352$8,453$7,632$6,884$6,204$5,706
11 years$8,415$7,525$6,719$5,991$5,336$4,860
12 years$7,635$6,754$5,963$5,255$4,624$4,170
13 years$6,975$6,104$5,328$4,640$4,032$3,599
14 years$6,410$5,548$4,787$4,118$3,535$3,123
15 years$5,921$5,068$4,322$3,673$3,112$2,721
16 years$5,494$4,650$3,918$3,289$2,750$2,379
17 years$5,117$4,283$3,566$2,955$2,439$2,086
18 years$4,782$3,957$3,255$2,663$2,168$1,835
19 years$4,483$3,668$2,980$2,406$1,933$1,617
20 years$4,214$3,408$2,735$2,179$1,726$1,428
21 years$3,971$3,174$2,515$1,978$1,545$1,263
22 years$3,751$2,963$2,318$1,798$1,385$1,119
23 years$3,550$2,771$2,141$1,638$1,243$992
24 years$3,366$2,597$1,980$1,494$1,117$881
25 years$3,197$2,437$1,834$1,364$1,005$783
26 years$3,041$2,290$1,701$1,247$906$697
27 years$2,897$2,155$1,579$1,142$817$620
28 years$2,764$2,031$1,468$1,046$737$553
29 years$2,640$1,916$1,366$959$665$493
30 years$2,524$1,810$1,272$880$601$440
31 years$2,416$1,711$1,186$809$543$392
32 years$2,315$1,619$1,107$743$492$350
33 years$2,221$1,533$1,033$683$445$313
34 years$2,132$1,453$966$629$403$280
35 years$2,048$1,378$903$579$365$250
36 years$1,969$1,308$844$533$331$223
37 years$1,895$1,242$790$491$300$200
38 years$1,825$1,180$740$453$272$179
39 years$1,758$1,123$693$417$246$160
40 years$1,695$1,068$650$385$223$143
41 years$1,635$1,017$609$355$203$128
42 years$1,579$968$572$328$184$115
43 years$1,525$922$536$303$167$103
44 years$1,473$879$504$279$152$92
45 years$1,424$839$473$258$138$82
46 years$1,378$800$444$238$125$74
47 years$1,333$763$417$220$113$66
48 years$1,290$729$392$203$103$59
49 years$1,250$696$369$188$94$53
50 years$1,211$665$346$174$85$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 42 starting with $1,240,000, adding $5,258 every year, while hoping to spend $59,677 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: 49/37/14 Blend
41$1,240,000$1,240,000$1,240,000$1,240,000
42$1,371,904$1,306,184$1,286,964$1,433,585
43$1,448,342$1,306,691$1,266,581$1,477,126
44$1,530,577$1,305,223$1,243,516$1,517,769
45$1,619,137$1,301,619$1,217,614$1,560,594
46$1,714,601$1,295,712$1,188,717$1,605,824
47$1,817,608$1,287,319$1,156,657$1,653,709
48$1,928,858$1,276,251$1,121,258$1,704,529
49$2,049,119$1,262,305$1,082,338$1,758,593
50$2,179,237$1,245,267$1,039,705$1,816,248
51$2,320,143$1,224,908$993,158$1,877,879
52$2,472,858$1,200,989$942,489$1,943,913
53$2,638,505$1,173,253$887,479$2,014,827
54$2,818,321$1,141,431$827,898$2,091,151
55$3,013,665$1,105,236$763,507$2,173,473
56$3,226,033$1,064,366$694,058$2,262,447
57$3,457,068$1,018,500$619,289$2,358,799
58$3,708,581$967,299$538,928$2,463,336
59$3,982,564$910,404$452,689$2,576,952
60$4,281,208$847,436$360,277$2,700,642
61$4,606,925$777,994$261,380$2,835,507
62$4,962,369$701,654$155,674$2,982,770
63$5,350,463$617,968$42,822$3,143,786
64$5,774,424$526,462$0$3,320,057
65$6,237,792$426,635$0$3,524,842
66$6,744,467$317,961$0$3,755,972
67$7,298,741$199,879$0$4,009,144
68$7,905,341$71,801$0$4,286,682
69$8,569,470$0$0$4,591,154
70$9,296,862$0$0$4,952,637
71$10,093,826$0$0$5,380,856
72$10,967,314$0$0$5,850,329
73$11,924,981$0$0$6,365,189
74$12,975,259$0$0$6,929,985
75$14,127,434$0$0$7,549,730
76$15,391,735$0$0$8,229,945
77$16,779,428$0$0$8,976,711
78$18,302,926$0$0$9,796,728
79$19,975,897$0$0$10,697,375
80$21,813,403$0$0$11,686,781
81$23,832,034$0$0$12,773,903
82$26,050,065$0$0$13,968,605
83$28,487,631$0$0$15,281,758
84$31,166,913$0$0$16,725,336
85$34,112,349$0$0$18,312,530
86$37,350,861$0$0$20,057,877
87$40,912,112$0$0$21,977,390
88$44,828,781$0$0$24,088,711
89$49,136,874$0$0$26,411,281
90$53,876,064$0$0$28,966,517
91$59,090,058$0$0$31,778,017
92$64,827,017$0$0$34,871,783
93$71,140,004$0$0$38,276,464
94$78,087,485$0$0$42,023,626
95$85,733,882$0$0$46,148,053
96$94,150,178$0$0$50,688,069
97$103,414,587$0$0$55,685,903
98$113,613,289$0$0$61,188,088
99$124,841,247$0$0$67,245,895
100$137,203,098$0$0$73,915,822