Can I retire at age 59 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$87,534$86,754$85,993$85,251$84,526$81,820
2 years$43,334$42,527$41,744$40,986$40,250$37,549
3 years$28,602$27,792$27,011$26,260$25,537$22,925
4 years$21,238$20,430$19,657$18,919$18,213$15,711
5 years$16,820$16,017$15,255$14,532$13,845$11,459
6 years$13,876$13,079$12,328$11,621$10,955$8,687
7 years$11,774$10,984$10,245$9,554$8,909$6,760
8 years$10,199$9,415$8,688$8,015$7,391$5,358
9 years$8,974$8,198$7,483$6,827$6,225$4,305
10 years$7,994$7,226$6,524$5,885$5,304$3,496
11 years$7,193$6,433$5,744$5,122$4,561$2,861
12 years$6,526$5,774$5,097$4,492$3,953$2,357
13 years$5,963$5,218$4,554$3,966$3,447$1,951
14 years$5,480$4,743$4,092$3,521$3,021$1,622
15 years$5,062$4,333$3,695$3,140$2,660$1,353
16 years$4,696$3,975$3,350$2,811$2,351$1,132
17 years$4,374$3,661$3,048$2,526$2,085$949
18 years$4,088$3,383$2,782$2,276$1,854$797
19 years$3,832$3,135$2,547$2,057$1,652$670
20 years$3,603$2,913$2,338$1,863$1,476$565
21 years$3,395$2,714$2,150$1,691$1,321$476
22 years$3,206$2,533$1,982$1,537$1,184$402
23 years$3,035$2,369$1,830$1,400$1,063$340
24 years$2,877$2,220$1,692$1,277$955$287
25 years$2,733$2,083$1,567$1,166$859$243
26 years$2,600$1,958$1,454$1,066$774$205
27 years$2,477$1,843$1,350$976$698$174
28 years$2,363$1,736$1,255$894$630$147
29 years$2,256$1,638$1,168$820$569$125
30 years$2,158$1,547$1,088$753$514$106
31 years$2,065$1,462$1,014$691$465$89
32 years$1,979$1,384$946$635$420$76
33 years$1,898$1,310$883$584$380$64
34 years$1,822$1,242$825$537$344$54
35 years$1,751$1,178$772$495$312$46
36 years$1,684$1,118$722$456$283$39
37 years$1,620$1,062$676$420$256$33
38 years$1,560$1,009$633$387$232$28
39 years$1,503$960$593$357$211$24
40 years$1,449$913$556$329$191$20
41 years$1,398$869$521$304$173$17
42 years$1,350$828$489$280$157$15
43 years$1,303$789$459$259$143$12
44 years$1,259$752$430$239$130$10
45 years$1,218$717$404$221$118$9
46 years$1,178$684$380$204$107$8
47 years$1,140$653$357$188$97$6
48 years$1,103$623$335$174$88$5
49 years$1,068$595$315$161$80$5
50 years$1,035$568$296$149$73$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,060,000, adding $2,567 every year, while hoping to spend $58,143 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: 59/16/25 Blend
58$1,060,000$1,060,000$1,060,000$1,060,000
59$1,170,768$1,114,588$1,098,158$1,231,817
60$1,228,322$1,107,339$1,073,082$1,266,470
61$1,289,799$1,097,786$1,045,218$1,297,787
62$1,355,536$1,085,755$1,014,411$1,330,702
63$1,425,905$1,071,061$980,497$1,365,385
64$1,501,312$1,053,509$943,310$1,402,022
65$1,582,206$1,032,890$902,670$1,440,825
66$1,669,074$1,008,985$858,393$1,482,027
67$1,762,456$981,562$810,285$1,525,889
68$1,862,942$950,374$758,145$1,572,701
69$1,971,180$915,160$701,761$1,622,787
70$2,087,882$875,644$640,911$1,676,507
71$2,213,830$831,535$575,366$1,734,261
72$2,349,884$782,524$504,884$1,796,493
73$2,496,988$728,283$429,214$1,863,698
74$2,656,181$668,469$348,092$1,936,425
75$2,828,602$602,715$261,245$2,015,285
76$3,015,508$530,636$168,385$2,100,954
77$3,218,277$451,825$69,213$2,194,184
78$3,438,428$365,851$0$2,295,809
79$3,677,628$272,258$0$2,416,521
80$3,937,713$170,566$0$2,567,917
81$4,220,704$60,267$0$2,732,740
82$4,528,822$0$0$2,912,345
83$4,864,513$0$0$3,118,645
84$5,230,467$0$0$3,355,190
85$5,629,647$0$0$3,613,293
86$6,065,312$0$0$3,895,073
87$6,541,049$0$0$4,202,862
88$7,060,810$0$0$4,539,225
89$7,628,943$0$0$4,906,989
90$8,250,235$0$0$5,309,265
91$8,929,957$0$0$5,749,478
92$9,673,915$0$0$6,231,402
93$10,488,499$0$0$6,759,189
94$11,380,748$0$0$7,337,414
95$12,358,412$0$0$7,971,115
96$13,430,028$0$0$8,665,840
97$14,604,997$0$0$9,427,699
98$15,893,674$0$0$10,263,424
99$17,307,464$0$0$11,180,426
100$18,858,928$0$0$12,186,872