Can I retire at age 59 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$96,618$95,757$94,917$94,098$93,297$90,023
2 years$47,830$46,940$46,076$45,239$44,427$41,163
3 years$31,570$30,676$29,814$28,985$28,187$25,034
4 years$23,442$22,550$21,697$20,882$20,103$17,087
5 years$18,566$17,679$16,838$16,040$15,282$12,411
6 years$15,316$14,436$13,608$12,827$12,092$9,368
7 years$12,996$12,124$11,308$10,546$9,834$7,256
8 years$11,257$10,392$9,590$8,847$8,158$5,724
9 years$9,905$9,048$8,260$7,535$6,870$4,577
10 years$8,824$7,976$7,201$6,496$5,854$3,698
11 years$7,940$7,100$6,340$5,653$5,035$3,011
12 years$7,204$6,373$5,626$4,958$4,363$2,467
13 years$6,581$5,759$5,027$4,378$3,805$2,031
14 years$6,048$5,235$4,517$3,886$3,335$1,680
15 years$5,587$4,782$4,078$3,466$2,936$1,393
16 years$5,184$4,388$3,697$3,103$2,595$1,158
17 years$4,828$4,041$3,364$2,788$2,301$966
18 years$4,512$3,734$3,071$2,513$2,046$806
19 years$4,230$3,461$2,812$2,270$1,824$674
20 years$3,976$3,216$2,580$2,056$1,629$564
21 years$3,747$2,995$2,373$1,866$1,458$473
22 years$3,539$2,796$2,187$1,697$1,307$397
23 years$3,350$2,615$2,020$1,545$1,173$333
24 years$3,176$2,450$1,868$1,409$1,054$280
25 years$3,016$2,299$1,730$1,287$949$235
26 years$2,869$2,161$1,605$1,177$855$197
27 years$2,734$2,034$1,490$1,077$770$166
28 years$2,608$1,916$1,385$987$695$140
29 years$2,491$1,808$1,289$905$628$118
30 years$2,382$1,707$1,201$831$567$99
31 years$2,280$1,614$1,119$763$513$83
32 years$2,185$1,527$1,044$701$464$70
33 years$2,095$1,446$975$645$420$59
34 years$2,011$1,371$911$593$380$50
35 years$1,933$1,300$852$546$344$42
36 years$1,858$1,234$797$503$312$35
37 years$1,788$1,172$746$463$283$30
38 years$1,722$1,114$698$427$256$25
39 years$1,659$1,059$654$394$232$21
40 years$1,600$1,008$613$363$211$18
41 years$1,543$959$575$335$191$15
42 years$1,490$914$539$309$174$13
43 years$1,439$870$506$286$157$11
44 years$1,390$830$475$264$143$9
45 years$1,344$791$446$243$130$8
46 years$1,300$755$419$225$118$6
47 years$1,258$720$394$208$107$5
48 years$1,218$688$370$192$97$4
49 years$1,179$657$348$177$88$4
50 years$1,142$627$327$164$80$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,170,000, adding $4,888 every year, while hoping to spend $22,163 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: 43/50/7 Blend
58$1,170,000$1,170,000$1,170,000$1,170,000
59$1,294,382$1,232,372$1,214,237$1,347,222
60$1,402,828$1,269,177$1,231,333$1,421,175
61$1,521,592$1,307,043$1,248,258$1,498,590
62$1,651,704$1,345,997$1,264,985$1,581,941
63$1,794,297$1,386,071$1,281,481$1,671,778
64$1,950,620$1,427,292$1,297,715$1,768,706
65$2,122,046$1,469,693$1,313,651$1,873,390
66$2,310,091$1,513,303$1,329,255$1,986,561
67$2,516,421$1,558,156$1,344,486$2,109,023
68$2,742,874$1,604,284$1,359,304$2,241,661
69$2,991,474$1,651,720$1,373,667$2,385,449
70$3,264,448$1,700,499$1,387,529$2,541,457
71$3,564,253$1,750,655$1,400,842$2,710,864
72$3,893,593$1,802,223$1,413,557$2,894,967
73$4,255,449$1,855,241$1,425,620$3,095,192
74$4,653,101$1,909,745$1,436,975$3,313,112
75$5,090,168$1,965,773$1,447,564$3,550,454
76$5,570,633$2,023,363$1,457,325$3,809,123
77$6,098,885$2,082,555$1,466,193$4,091,214
78$6,679,760$2,143,390$1,474,100$4,399,037
79$7,318,587$2,205,906$1,480,973$4,735,130
80$8,021,234$2,270,148$1,486,737$5,102,293
81$8,794,171$2,336,155$1,491,314$5,503,606
82$9,644,522$2,403,973$1,494,619$5,942,464
83$10,580,140$2,473,644$1,496,565$6,422,603
84$11,609,674$2,545,213$1,497,060$6,948,139
85$12,742,658$2,618,725$1,496,008$7,523,606
86$13,989,593$2,694,226$1,493,308$8,153,998
87$15,362,051$2,771,764$1,488,854$8,844,815
88$16,872,784$2,851,384$1,482,535$9,602,116
89$18,535,842$2,933,136$1,474,233$10,432,576
90$20,366,706$3,017,067$1,463,828$11,343,547
91$22,382,434$3,103,228$1,451,191$12,343,130
92$24,601,824$3,191,668$1,436,187$13,440,249
93$27,045,588$3,282,437$1,418,677$14,644,734
94$29,736,548$3,375,587$1,398,514$15,967,418
95$32,699,855$3,471,169$1,375,542$17,420,232
96$35,963,219$3,569,235$1,349,602$19,016,324
97$39,557,178$3,669,838$1,320,524$20,770,180
98$43,515,380$3,773,030$1,288,131$22,697,760
99$47,874,905$3,878,865$1,252,240$24,816,649
100$52,676,612$3,987,396$1,212,657$27,146,223