Can I retire at age 59 with 1,320,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$109,004$108,033$107,086$106,161$105,259$101,971
2 years$53,963$52,958$51,984$51,039$50,123$46,840
3 years$35,618$34,608$33,637$32,701$31,800$28,625
4 years$26,447$25,441$24,479$23,559$22,680$19,637
5 years$20,946$19,946$18,997$18,096$17,241$14,338
6 years$17,280$16,287$15,352$14,471$13,642$10,882
7 years$14,662$13,678$12,758$11,898$11,095$8,477
8 years$12,700$11,725$10,820$9,981$9,204$6,727
9 years$11,175$10,208$9,319$8,501$7,751$5,412
10 years$9,955$8,998$8,124$7,328$6,604$4,400
11 years$8,958$8,011$7,153$6,378$5,680$3,606
12 years$8,127$7,190$6,348$5,594$4,922$2,974
13 years$7,425$6,498$5,671$4,939$4,292$2,466
14 years$6,824$5,906$5,096$4,384$3,763$2,053
15 years$6,303$5,395$4,601$3,910$3,313$1,715
16 years$5,848$4,950$4,171$3,501$2,928$1,436
17 years$5,447$4,559$3,796$3,146$2,596$1,206
18 years$5,091$4,213$3,465$2,835$2,308$1,014
19 years$4,772$3,904$3,172$2,561$2,057$855
20 years$4,486$3,628$2,911$2,320$1,838$721
21 years$4,228$3,379$2,678$2,105$1,645$609
22 years$3,993$3,154$2,468$1,914$1,474$515
23 years$3,779$2,950$2,279$1,743$1,323$435
24 years$3,583$2,764$2,107$1,590$1,189$369
25 years$3,403$2,594$1,952$1,452$1,070$312
26 years$3,237$2,438$1,810$1,328$964$265
27 years$3,084$2,294$1,681$1,215$869$224
28 years$2,942$2,162$1,563$1,114$784$190
29 years$2,810$2,040$1,454$1,021$708$161
30 years$2,687$1,926$1,355$937$640$137
31 years$2,572$1,821$1,263$861$579$116
32 years$2,465$1,723$1,178$791$523$99
33 years$2,364$1,632$1,100$727$474$84
34 years$2,269$1,546$1,028$669$429$71
35 years$2,180$1,467$961$616$388$60
36 years$2,096$1,392$899$567$352$51
37 years$2,017$1,322$841$523$319$44
38 years$1,943$1,257$788$482$289$37
39 years$1,872$1,195$738$444$262$31
40 years$1,805$1,137$692$410$238$27
41 years$1,741$1,082$649$378$216$23
42 years$1,681$1,031$609$349$196$19
43 years$1,623$982$571$322$178$16
44 years$1,568$936$536$297$161$14
45 years$1,516$893$503$275$146$12
46 years$1,466$852$473$254$133$10
47 years$1,419$813$444$234$121$9
48 years$1,374$776$417$217$110$7
49 years$1,330$741$392$200$100$6
50 years$1,289$708$369$185$90$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,320,000, adding $2,034 every year, while hoping to spend $53,170 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: 40/30/30 Blend
58$1,320,000$1,320,000$1,320,000$1,320,000
59$1,456,738$1,386,778$1,366,318$1,502,039
60$1,548,753$1,398,158$1,355,517$1,546,677
61$1,648,371$1,408,313$1,342,573$1,589,888
62$1,756,312$1,417,128$1,327,356$1,635,645
63$1,873,367$1,424,478$1,309,734$1,684,217
64$2,000,406$1,430,233$1,289,565$1,735,901
65$2,138,386$1,434,253$1,266,704$1,791,032
66$2,288,358$1,436,388$1,240,996$1,849,977
67$2,451,482$1,436,482$1,212,280$1,913,149
68$2,629,029$1,434,366$1,180,387$1,981,003
69$2,822,403$1,429,862$1,145,143$2,054,047
70$3,033,145$1,422,782$1,106,362$2,132,844
71$3,262,952$1,412,926$1,063,852$2,218,020
72$3,513,694$1,400,079$1,017,411$2,310,270
73$3,787,425$1,384,018$966,829$2,410,363
74$4,086,411$1,364,502$911,886$2,519,154
75$4,413,141$1,341,280$852,351$2,637,590
76$4,770,361$1,314,082$787,984$2,766,722
77$5,161,090$1,282,624$718,534$2,907,714
78$5,588,654$1,246,606$643,738$3,061,857
79$6,056,716$1,205,708$563,321$3,230,579
80$6,569,307$1,159,594$476,999$3,415,464
81$7,130,869$1,107,907$384,471$3,618,263
82$7,746,292$1,050,269$285,426$3,840,918
83$8,420,963$986,281$179,537$4,085,576
84$9,160,814$915,521$66,463$4,354,614
85$9,972,378$837,543$0$4,650,662
86$10,862,852$751,874$0$4,993,980
87$11,840,163$658,017$0$5,394,266
88$12,913,043$555,443$0$5,833,904
89$14,091,110$443,596$0$6,316,960
90$15,384,959$321,888$0$6,847,916
91$16,806,263$189,698$0$7,431,722
92$18,367,878$46,370$0$8,073,837
93$20,083,971$0$0$8,780,287
94$21,970,146$0$0$9,593,632
95$24,043,596$0$0$10,504,748
96$26,323,261$0$0$11,506,674
97$28,830,010$0$0$12,608,605
98$31,586,832$0$0$13,820,673
99$34,619,060$0$0$15,154,041
100$37,954,602$0$0$16,621,007