Can I retire at age 59 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$98,269$97,394$96,540$95,706$94,892$93,551
2 years$48,648$47,742$46,864$46,013$45,187$43,839
3 years$32,110$31,200$30,324$29,481$28,668$27,355
4 years$23,842$22,935$22,068$21,239$20,447$19,177
5 years$18,883$17,982$17,126$16,314$15,543$14,322
6 years$15,578$14,683$13,840$13,046$12,299$11,128
7 years$13,218$12,331$11,501$10,726$10,002$8,881
8 years$11,449$10,570$9,754$8,998$8,298$7,227
9 years$10,074$9,203$8,401$7,664$6,988$5,966
10 years$8,975$8,112$7,324$6,607$5,954$4,981
11 years$8,076$7,222$6,448$5,750$5,121$4,196
12 years$7,327$6,482$5,723$5,043$4,437$3,559
13 years$6,694$5,858$5,113$4,452$3,870$3,037
14 years$6,152$5,324$4,594$3,952$3,392$2,603
15 years$5,682$4,864$4,148$3,525$2,987$2,241
16 years$5,272$4,463$3,760$3,156$2,640$1,935
17 years$4,910$4,110$3,422$2,836$2,340$1,676
18 years$4,589$3,798$3,124$2,556$2,081$1,455
19 years$4,302$3,520$2,860$2,309$1,855$1,266
20 years$4,044$3,271$2,624$2,091$1,657$1,103
21 years$3,811$3,046$2,414$1,898$1,483$963
22 years$3,600$2,844$2,225$1,726$1,329$841
23 years$3,407$2,660$2,054$1,572$1,193$736
24 years$3,230$2,492$1,900$1,433$1,072$644
25 years$3,068$2,339$1,760$1,309$965$565
26 years$2,919$2,198$1,632$1,197$869$496
27 years$2,780$2,069$1,515$1,096$784$435
28 years$2,652$1,949$1,409$1,004$707$382
29 years$2,533$1,839$1,311$921$638$336
30 years$2,422$1,737$1,221$845$577$295
31 years$2,319$1,642$1,138$776$522$259
32 years$2,222$1,553$1,062$713$472$228
33 years$2,131$1,471$992$656$427$201
34 years$2,046$1,394$927$603$387$177
35 years$1,966$1,322$866$555$350$156
36 years$1,890$1,255$810$512$317$137
37 years$1,819$1,192$759$471$288$121
38 years$1,751$1,133$710$434$261$106
39 years$1,687$1,077$666$401$236$94
40 years$1,627$1,025$624$369$214$83
41 years$1,570$976$585$341$195$73
42 years$1,515$929$549$315$176$64
43 years$1,463$885$515$290$160$56
44 years$1,414$844$483$268$145$50
45 years$1,367$805$454$248$132$44
46 years$1,322$768$426$229$120$39
47 years$1,279$733$400$211$109$34
48 years$1,238$699$376$195$99$30
49 years$1,199$668$354$180$90$26
50 years$1,162$638$333$167$82$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,190,000, adding $2,702 every year, while hoping to spend $51,159 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: 49/28/23 Blend
58$1,190,000$1,190,000$1,190,000$1,190,000
59$1,314,167$1,251,097$1,232,652$1,369,905
60$1,393,779$1,257,968$1,219,513$1,415,875
61$1,479,797$1,263,461$1,204,219$1,460,423
62$1,572,821$1,267,455$1,186,645$1,507,775
63$1,673,508$1,269,820$1,166,657$1,558,218
64$1,782,584$1,270,418$1,144,118$1,612,069
65$1,900,844$1,269,106$1,118,882$1,669,682
66$2,029,164$1,265,726$1,090,799$1,731,447
67$2,168,508$1,260,116$1,059,710$1,797,800
68$2,319,935$1,252,100$1,025,449$1,869,221
69$2,484,609$1,241,494$987,843$1,946,245
70$2,663,814$1,228,102$946,710$2,029,462
71$2,858,960$1,211,716$901,862$2,119,530
72$3,071,598$1,192,114$853,099$2,217,174
73$3,303,438$1,169,065$800,214$2,323,200
74$3,556,360$1,142,320$742,992$2,438,498
75$3,832,432$1,111,618$681,207$2,564,057
76$4,133,934$1,076,681$614,621$2,700,967
77$4,463,373$1,037,215$542,988$2,850,439
78$4,823,509$992,911$466,050$3,013,812
79$5,217,383$943,440$383,539$3,192,565
80$5,648,341$888,453$295,172$3,388,339
81$6,120,068$827,584$200,657$3,602,945
82$6,636,623$760,444$99,687$3,838,387
83$7,202,475$686,621$0$4,096,883
84$7,822,543$605,682$0$4,382,863
85$8,502,250$517,168$0$4,723,292
86$9,247,564$420,593$0$5,096,761
87$10,065,059$315,446$0$5,506,670
88$10,961,977$201,185$0$5,956,768
89$11,946,295$77,239$0$6,451,196
90$13,026,799$0$0$6,994,518
91$14,213,166$0$0$7,609,334
92$15,516,058$0$0$8,310,807
93$16,947,220$0$0$9,081,477
94$18,519,588$0$0$9,928,330
95$20,247,416$0$0$10,859,058
96$22,146,406$0$0$11,882,140
97$24,233,856$0$0$13,006,912
98$26,528,824$0$0$14,243,664
99$29,052,307$0$0$15,603,731
100$31,827,438$0$0$17,099,602