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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$82,579$81,843$81,126$80,425$79,741$78,324
2 years$40,881$40,119$39,381$38,666$37,972$36,549
3 years$26,983$26,218$25,482$24,774$24,091$22,706
4 years$20,036$19,273$18,545$17,848$17,182$15,846
5 years$15,868$15,111$14,391$13,709$13,061$11,779
6 years$13,091$12,339$11,630$10,963$10,335$9,107
7 years$11,108$10,362$9,665$9,013$8,405$7,232
8 years$9,621$8,882$8,197$7,561$6,973$5,854
9 years$8,466$7,734$7,060$6,440$5,872$4,807
10 years$7,542$6,817$6,155$5,552$5,003$3,992
11 years$6,786$6,069$5,419$4,832$4,303$3,343
12 years$6,157$5,447$4,809$4,238$3,729$2,820
13 years$5,625$4,922$4,296$3,742$3,252$2,392
14 years$5,170$4,474$3,860$3,321$2,850$2,038
15 years$4,775$4,087$3,485$2,962$2,510$1,743
16 years$4,430$3,750$3,160$2,652$2,218$1,496
17 years$4,126$3,454$2,875$2,383$1,967$1,287
18 years$3,857$3,191$2,625$2,148$1,749$1,110
19 years$3,615$2,958$2,403$1,940$1,559$960
20 years$3,399$2,748$2,205$1,757$1,392$831
21 years$3,203$2,560$2,029$1,595$1,246$720
22 years$3,025$2,390$1,870$1,450$1,117$625
23 years$2,863$2,235$1,726$1,321$1,002$543
24 years$2,714$2,094$1,596$1,205$901$472
25 years$2,578$1,965$1,479$1,100$811$411
26 years$2,453$1,847$1,371$1,006$730$358
27 years$2,336$1,738$1,273$921$658$312
28 years$2,229$1,638$1,184$844$594$272
29 years$2,129$1,545$1,102$774$537$237
30 years$2,036$1,459$1,026$710$485$207
31 years$1,949$1,380$957$652$438$181
32 years$1,867$1,305$893$599$396$158
33 years$1,791$1,236$833$551$359$138
34 years$1,719$1,172$779$507$325$120
35 years$1,652$1,111$728$467$294$105
36 years$1,588$1,055$681$430$267$92
37 years$1,528$1,002$637$396$242$80
38 years$1,472$952$597$365$219$70
39 years$1,418$905$559$337$199$61
40 years$1,367$861$524$310$180$54
41 years$1,319$820$492$286$163$47
42 years$1,273$781$461$264$148$41
43 years$1,230$744$433$244$135$36
44 years$1,188$709$406$225$122$31
45 years$1,149$676$381$208$111$27
46 years$1,111$645$358$192$101$24
47 years$1,075$616$336$178$91$21
48 years$1,041$588$316$164$83$18
49 years$1,008$561$297$152$75$16
50 years$976$536$279$140$69$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,000,000, adding $2,412 every year, while hoping to spend $36,950 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: 53/41/6 Blend
58$1,000,000$1,000,000$1,000,000$1,000,000
59$1,104,488$1,051,488$1,035,988$1,161,374
60$1,177,831$1,063,696$1,031,379$1,212,359
61$1,257,417$1,075,265$1,025,377$1,263,540
62$1,343,843$1,086,122$1,017,897$1,318,321
63$1,437,767$1,096,194$1,008,849$1,377,049
64$1,539,912$1,105,401$998,138$1,440,107
65$1,651,074$1,113,656$985,666$1,507,916
66$1,772,129$1,120,870$971,331$1,580,943
67$1,904,039$1,126,946$955,024$1,659,702
68$2,047,865$1,131,780$936,631$1,744,761
69$2,204,775$1,135,265$916,036$1,836,748
70$2,376,052$1,137,283$893,113$1,936,356
71$2,563,110$1,137,711$867,734$2,044,348
72$2,767,507$1,136,418$839,762$2,161,570
73$2,990,955$1,133,265$809,057$2,288,954
74$3,235,342$1,128,105$775,470$2,427,530
75$3,502,745$1,120,779$738,845$2,578,433
76$3,795,450$1,111,123$699,022$2,742,918
77$4,115,978$1,098,960$655,831$2,922,370
78$4,467,101$1,084,102$609,095$3,118,319
79$4,851,874$1,066,352$558,628$3,332,451
80$5,273,662$1,045,500$504,239$3,566,629
81$5,736,169$1,021,323$445,725$3,822,910
82$6,243,477$993,587$382,875$4,103,563
83$6,800,080$962,041$315,470$4,411,092
84$7,410,929$926,422$243,279$4,748,261
85$8,081,478$886,451$166,063$5,118,121
86$8,817,734$841,832$83,572$5,524,038
87$9,626,315$792,253$0$5,969,727
88$10,514,509$737,384$0$6,459,571
89$11,490,348$676,875$0$7,003,538
90$12,562,679$610,357$0$7,601,277
91$13,741,247$537,440$0$8,258,315
92$15,036,790$457,710$0$8,980,745
93$16,461,137$370,733$0$9,775,288
94$18,027,322$276,047$0$10,649,360
95$19,749,703$173,167$0$11,611,136
96$21,644,099$61,580$0$12,669,637
97$23,727,942$0$0$13,834,808
98$26,020,436$0$0$15,144,357
99$28,542,739$0$0$16,615,859
100$31,318,166$0$0$18,235,149