Can I retire at age 59 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$88,360$87,573$86,805$86,055$85,323$84,048
2 years$43,742$42,928$42,138$41,373$40,630$39,348
3 years$28,872$28,054$27,266$26,508$25,777$24,529
4 years$21,438$20,622$19,843$19,097$18,385$17,179
5 years$16,979$16,168$15,399$14,669$13,976$12,816
6 years$14,007$13,203$12,445$11,731$11,059$9,947
7 years$11,885$11,088$10,341$9,644$8,994$7,930
8 years$10,295$9,504$8,770$8,090$7,461$6,445
9 years$9,058$8,275$7,554$6,891$6,283$5,315
10 years$8,070$7,294$6,586$5,940$5,354$4,432
11 years$7,261$6,493$5,798$5,170$4,604$3,728
12 years$6,588$5,828$5,146$4,535$3,990$3,159
13 years$6,019$5,267$4,597$4,003$3,479$2,691
14 years$5,531$4,788$4,131$3,554$3,050$2,304
15 years$5,109$4,373$3,729$3,169$2,685$1,981
16 years$4,741$4,013$3,381$2,838$2,373$1,708
17 years$4,415$3,695$3,077$2,550$2,104$1,477
18 years$4,127$3,415$2,809$2,298$1,871$1,280
19 years$3,869$3,165$2,571$2,076$1,668$1,112
20 years$3,637$2,941$2,360$1,880$1,490$968
21 years$3,427$2,739$2,171$1,707$1,333$843
22 years$3,237$2,557$2,000$1,552$1,195$736
23 years$3,063$2,392$1,847$1,413$1,073$643
24 years$2,904$2,241$1,708$1,289$964$562
25 years$2,759$2,103$1,582$1,177$868$492
26 years$2,624$1,976$1,467$1,076$781$431
27 years$2,500$1,860$1,363$985$705$378
28 years$2,385$1,753$1,267$903$636$331
29 years$2,278$1,653$1,179$828$574$290
30 years$2,178$1,561$1,098$760$519$255
31 years$2,085$1,476$1,024$698$469$224
32 years$1,998$1,397$955$641$424$197
33 years$1,916$1,323$892$590$384$173
34 years$1,840$1,254$833$543$348$152
35 years$1,767$1,189$779$499$315$133
36 years$1,699$1,129$729$460$285$117
37 years$1,635$1,072$682$424$259$103
38 years$1,575$1,019$639$391$234$91
39 years$1,517$969$598$360$213$80
40 years$1,463$922$561$332$193$70
41 years$1,411$877$526$306$175$62
42 years$1,362$835$493$283$159$54
43 years$1,316$796$463$261$144$48
44 years$1,271$759$435$241$131$42
45 years$1,229$724$408$223$119$37
46 years$1,189$690$383$206$108$33
47 years$1,150$659$360$190$98$29
48 years$1,113$629$338$176$89$25
49 years$1,078$600$318$162$81$22
50 years$1,045$574$299$150$73$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,070,000, adding $6,725 every year, while hoping to spend $47,448 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: 42/35/23 Blend
58$1,070,000$1,070,000$1,070,000$1,070,000
59$1,186,077$1,129,367$1,112,782$1,227,655
60$1,256,572$1,134,222$1,099,576$1,262,814
61$1,332,668$1,137,724$1,084,337$1,295,805
62$1,414,885$1,139,757$1,066,947$1,330,582
63$1,503,797$1,140,199$1,047,283$1,367,336
64$1,600,032$1,138,916$1,025,215$1,406,279
65$1,704,283$1,135,770$1,000,607$1,447,648
66$1,817,310$1,130,614$973,318$1,491,707
67$1,939,950$1,123,289$943,199$1,538,751
68$2,073,124$1,113,629$910,095$1,589,108
69$2,217,844$1,101,458$873,844$1,643,142
70$2,375,223$1,086,588$834,277$1,701,261
71$2,546,486$1,068,821$791,216$1,763,916
72$2,732,981$1,047,947$744,475$1,831,610
73$2,936,191$1,023,742$693,861$1,904,903
74$3,157,749$995,972$639,171$1,984,414
75$3,399,451$964,386$580,195$2,070,833
76$3,663,274$928,720$516,711$2,164,927
77$3,951,395$888,694$448,487$2,267,545
78$4,266,210$844,013$375,285$2,379,631
79$4,610,357$794,363$296,850$2,502,232
80$4,986,740$739,414$212,922$2,636,506
81$5,398,558$678,815$123,224$2,783,741
82$5,849,330$612,197$27,472$2,945,364
83$6,342,936$539,168$0$3,122,953
84$6,883,643$459,315$0$3,336,596
85$7,476,156$372,203$0$3,578,282
86$8,125,651$277,368$0$3,843,489
87$8,837,834$174,325$0$4,134,677
88$9,618,984$62,559$0$4,454,566
89$10,476,023$0$0$4,806,156
90$11,416,571$0$0$5,215,285
91$12,449,022$0$0$5,690,979
92$13,582,623$0$0$6,213,421
93$14,827,562$0$0$6,787,324
94$16,195,060$0$0$7,417,880
95$17,697,477$0$0$8,110,806
96$19,348,433$0$0$8,872,405
97$21,162,928$0$0$9,709,618
98$23,157,493$0$0$10,630,091
99$25,350,335$0$0$11,642,250
100$27,761,517$0$0$12,755,378