Can I retire at age 59 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$85,056$84,299$83,560$82,838$82,134$79,792
2 years$42,107$41,323$40,563$39,826$39,111$36,771
3 years$27,793$27,005$26,247$25,517$24,814$22,547
4 years$20,637$19,852$19,101$18,384$17,697$15,522
5 years$16,344$15,564$14,823$14,120$13,453$11,376
6 years$13,484$12,709$11,979$11,292$10,645$8,667
7 years$11,441$10,673$9,955$9,284$8,657$6,778
8 years$9,910$9,149$8,443$7,788$7,182$5,401
9 years$8,720$7,966$7,272$6,634$6,048$4,364
10 years$7,768$7,021$6,339$5,718$5,154$3,563
11 years$6,990$6,251$5,581$4,977$4,432$2,934
12 years$6,342$5,610$4,953$4,365$3,841$2,431
13 years$5,794$5,070$4,425$3,854$3,349$2,025
14 years$5,325$4,609$3,976$3,421$2,936$1,694
15 years$4,918$4,210$3,590$3,051$2,585$1,422
16 years$4,563$3,863$3,255$2,732$2,285$1,197
17 years$4,250$3,557$2,962$2,454$2,026$1,010
18 years$3,972$3,287$2,704$2,212$1,801$854
19 years$3,724$3,046$2,475$1,999$1,605$724
20 years$3,501$2,831$2,272$1,810$1,434$614
21 years$3,299$2,637$2,089$1,643$1,283$521
22 years$3,116$2,461$1,926$1,494$1,150$443
23 years$2,949$2,302$1,778$1,360$1,033$377
24 years$2,796$2,157$1,644$1,241$928$321
25 years$2,655$2,024$1,523$1,133$835$273
26 years$2,526$1,902$1,413$1,036$752$233
27 years$2,407$1,790$1,312$948$678$198
28 years$2,296$1,687$1,219$869$612$169
29 years$2,193$1,592$1,135$797$553$144
30 years$2,097$1,503$1,057$731$499$123
31 years$2,007$1,421$985$672$451$105
32 years$1,923$1,344$919$617$408$90
33 years$1,845$1,273$858$568$370$77
34 years$1,771$1,207$802$522$335$65
35 years$1,701$1,145$750$481$303$56
36 years$1,636$1,086$701$443$275$48
37 years$1,574$1,032$657$408$249$41
38 years$1,516$981$615$376$226$35
39 years$1,461$932$576$347$205$30
40 years$1,408$887$540$320$186$25
41 years$1,359$844$506$295$168$22
42 years$1,311$804$475$272$153$19
43 years$1,266$766$446$251$139$16
44 years$1,224$730$418$232$126$14
45 years$1,183$697$393$214$114$12
46 years$1,144$664$369$198$104$10
47 years$1,107$634$347$183$94$8
48 years$1,072$605$326$169$86$7
49 years$1,038$578$306$156$78$6
50 years$1,006$552$288$144$71$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,030,000, adding $3,430 every year, while hoping to spend $28,142 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: 47/42/11 Blend
58$1,030,000$1,030,000$1,030,000$1,030,000
59$1,138,598$1,084,008$1,068,043$1,188,483
60$1,224,792$1,107,182$1,073,880$1,246,417
61$1,318,835$1,130,547$1,078,969$1,306,067
62$1,421,497$1,154,085$1,083,255$1,370,167
63$1,533,627$1,177,773$1,086,681$1,439,142
64$1,656,160$1,201,586$1,089,188$1,513,458
65$1,790,122$1,225,498$1,090,710$1,593,628
66$1,936,648$1,249,481$1,091,182$1,680,219
67$2,096,983$1,273,502$1,090,533$1,773,855
68$2,272,500$1,297,529$1,088,691$1,875,223
69$2,464,712$1,321,524$1,085,579$1,985,082
70$2,675,282$1,345,448$1,081,115$2,104,268
71$2,906,044$1,369,259$1,075,216$2,233,701
72$3,159,017$1,392,909$1,067,792$2,374,398
73$3,436,424$1,416,349$1,058,751$2,527,477
74$3,740,716$1,439,527$1,047,996$2,694,172
75$4,074,590$1,462,384$1,035,424$2,875,845
76$4,441,016$1,484,860$1,020,929$3,073,995
77$4,843,269$1,506,887$1,004,400$3,290,276
78$5,284,954$1,528,396$985,719$3,526,510
79$5,770,043$1,549,310$964,763$3,784,708
80$6,302,910$1,569,549$941,405$4,067,085
81$6,888,375$1,589,026$915,511$4,376,085
82$7,531,749$1,607,648$886,941$4,714,401
83$8,238,882$1,625,317$855,547$5,085,003
84$9,016,216$1,641,926$821,177$5,491,166
85$9,870,854$1,657,364$783,670$5,936,497
86$10,810,616$1,671,510$742,858$6,424,979
87$11,844,122$1,684,237$698,566$6,960,997
88$12,980,866$1,695,408$650,612$7,549,390
89$14,231,311$1,704,879$598,804$8,195,490
90$15,606,982$1,712,496$542,941$8,905,178
91$17,120,580$1,718,094$482,816$9,684,935
92$18,786,098$1,721,500$418,209$10,541,907
93$20,618,955$1,722,528$348,894$11,483,973
94$22,636,138$1,720,982$274,631$12,519,819
95$24,856,366$1,716,652$195,174$13,659,019
96$27,300,265$1,709,317$110,262$14,912,129
97$29,990,561$1,698,743$19,624$16,290,785
98$32,952,296$1,684,679$0$17,807,817
99$36,213,062$1,666,860$0$19,486,415
100$39,803,265$1,645,007$0$21,336,166