Can I retire at age 59 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$101,572$100,667$99,785$98,923$98,082$95,984
2 years$50,283$49,347$48,439$47,559$46,706$44,602
3 years$33,189$32,249$31,343$30,472$29,632$27,589
4 years$24,644$23,706$22,810$21,953$21,134$19,166
5 years$19,518$18,586$17,701$16,862$16,066$14,180
6 years$16,102$15,177$14,305$13,485$12,712$10,910
7 years$13,663$12,745$11,888$11,087$10,338$8,620
8 years$11,834$10,925$10,082$9,300$8,577$6,941
9 years$10,413$9,512$8,683$7,922$7,223$5,670
10 years$9,276$8,385$7,570$6,829$6,154$4,681
11 years$8,347$7,464$6,665$5,943$5,293$3,899
12 years$7,573$6,700$5,915$5,213$4,587$3,269
13 years$6,919$6,055$5,285$4,602$4,000$2,756
14 years$6,359$5,503$4,748$4,085$3,506$2,334
15 years$5,873$5,027$4,287$3,643$3,087$1,984
16 years$5,449$4,613$3,887$3,262$2,728$1,692
17 years$5,076$4,248$3,537$2,931$2,419$1,447
18 years$4,744$3,925$3,229$2,641$2,151$1,240
19 years$4,447$3,638$2,956$2,387$1,917$1,064
20 years$4,180$3,381$2,713$2,162$1,712$915
21 years$3,939$3,149$2,495$1,962$1,532$788
22 years$3,721$2,939$2,300$1,784$1,374$679
23 years$3,521$2,749$2,123$1,625$1,233$586
24 years$3,339$2,576$1,964$1,482$1,108$506
25 years$3,171$2,417$1,819$1,353$997$437
26 years$3,017$2,272$1,687$1,237$898$378
27 years$2,874$2,138$1,566$1,132$810$327
28 years$2,741$2,015$1,456$1,038$731$283
29 years$2,618$1,901$1,355$951$660$245
30 years$2,504$1,795$1,262$873$596$212
31 years$2,397$1,697$1,177$802$539$184
32 years$2,297$1,606$1,098$737$488$159
33 years$2,203$1,520$1,025$678$441$138
34 years$2,115$1,441$958$624$400$120
35 years$2,032$1,367$895$574$362$104
36 years$1,954$1,297$838$529$328$90
37 years$1,880$1,232$784$487$297$78
38 years$1,810$1,171$734$449$269$68
39 years$1,744$1,113$688$414$244$59
40 years$1,682$1,059$645$382$222$51
41 years$1,622$1,008$605$352$201$44
42 years$1,566$960$567$325$182$38
43 years$1,512$915$532$300$166$33
44 years$1,461$872$500$277$150$29
45 years$1,413$832$469$256$136$25
46 years$1,366$793$441$236$124$22
47 years$1,322$757$414$218$112$19
48 years$1,280$723$389$202$102$16
49 years$1,240$690$366$187$93$14
50 years$1,201$659$344$172$84$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,230,000, adding $6,046 every year, while hoping to spend $32,876 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: 82/8/10 Blend
58$1,230,000$1,230,000$1,230,000$1,230,000
59$1,361,696$1,296,506$1,277,441$1,470,743
60$1,465,610$1,325,055$1,285,256$1,571,593
61$1,579,020$1,353,901$1,292,230$1,677,317
62$1,702,862$1,383,024$1,298,302$1,792,401
63$1,838,163$1,412,402$1,303,404$1,917,764
64$1,986,056$1,442,010$1,307,468$2,054,420
65$2,147,786$1,471,821$1,310,421$2,203,486
66$2,324,727$1,501,806$1,312,186$2,366,192
67$2,518,388$1,531,933$1,312,683$2,543,892
68$2,730,433$1,562,168$1,311,828$2,738,078
69$2,962,695$1,592,472$1,309,532$2,950,394
70$3,217,190$1,622,804$1,305,702$3,182,648
71$3,496,142$1,653,120$1,300,242$3,436,837
72$3,801,997$1,683,371$1,293,048$3,715,156
73$4,137,451$1,713,506$1,284,015$4,020,026
74$4,505,472$1,743,469$1,273,031$4,354,113
75$4,909,330$1,773,199$1,259,977$4,720,356
76$5,352,627$1,802,631$1,244,732$5,121,991
77$5,839,330$1,831,695$1,227,166$5,562,583
78$6,373,811$1,860,317$1,207,144$6,046,064
79$6,960,882$1,888,416$1,184,527$6,576,761
80$7,605,849$1,915,905$1,159,165$7,159,445
81$8,314,554$1,942,692$1,130,905$7,799,372
82$9,093,433$1,968,678$1,099,585$8,502,334
83$9,949,577$1,993,758$1,065,036$9,274,713
84$10,890,800$2,017,818$1,027,080$10,123,541
85$11,925,708$2,040,738$985,534$11,056,565
86$13,063,784$2,062,388$940,203$12,082,326
87$14,315,476$2,082,631$890,886$13,210,231
88$15,692,295$2,101,320$837,371$14,450,649
89$17,206,923$2,118,299$779,437$15,815,004
90$18,873,336$2,133,402$716,855$17,315,886
91$20,706,928$2,146,450$649,381$18,967,169
92$22,724,665$2,157,257$576,766$20,784,141
93$24,945,238$2,165,620$498,745$22,783,649
94$27,389,244$2,171,327$415,044$24,984,257
95$30,079,375$2,174,150$325,377$27,406,425
96$33,040,637$2,173,849$229,443$30,072,696
97$36,300,583$2,170,169$126,930$33,007,916
98$39,889,572$2,162,836$17,511$36,239,462
99$43,841,057$2,151,564$0$39,797,504
100$48,191,900$2,136,046$0$43,725,881