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

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$109,004$108,033$107,086$106,161$105,259$101,403
2 years$53,963$52,958$51,984$51,039$50,123$46,282
3 years$35,618$34,608$33,637$32,701$31,800$28,094
4 years$26,447$25,441$24,479$23,559$22,680$19,137
5 years$20,946$19,946$18,997$18,096$17,241$13,870
6 years$17,280$16,287$15,352$14,471$13,642$10,446
7 years$14,662$13,678$12,758$11,898$11,095$8,073
8 years$12,700$11,725$10,820$9,981$9,204$6,353
9 years$11,175$10,208$9,319$8,501$7,751$5,068
10 years$9,955$8,998$8,124$7,328$6,604$4,084
11 years$8,958$8,011$7,153$6,378$5,680$3,317
12 years$8,127$7,190$6,348$5,594$4,922$2,710
13 years$7,425$6,498$5,671$4,939$4,292$2,226
14 years$6,824$5,906$5,096$4,384$3,763$1,835
15 years$6,303$5,395$4,601$3,910$3,313$1,518
16 years$5,848$4,950$4,171$3,501$2,928$1,258
17 years$5,447$4,559$3,796$3,146$2,596$1,046
18 years$5,091$4,213$3,465$2,835$2,308$870
19 years$4,772$3,904$3,172$2,561$2,057$726
20 years$4,486$3,628$2,911$2,320$1,838$606
21 years$4,228$3,379$2,678$2,105$1,645$506
22 years$3,993$3,154$2,468$1,914$1,474$423
23 years$3,779$2,950$2,279$1,743$1,323$354
24 years$3,583$2,764$2,107$1,590$1,189$296
25 years$3,403$2,594$1,952$1,452$1,070$248
26 years$3,237$2,438$1,810$1,328$964$208
27 years$3,084$2,294$1,681$1,215$869$174
28 years$2,942$2,162$1,563$1,114$784$146
29 years$2,810$2,040$1,454$1,021$708$123
30 years$2,687$1,926$1,355$937$640$103
31 years$2,572$1,821$1,263$861$579$86
32 years$2,465$1,723$1,178$791$523$72
33 years$2,364$1,632$1,100$727$474$61
34 years$2,269$1,546$1,028$669$429$51
35 years$2,180$1,467$961$616$388$43
36 years$2,096$1,392$899$567$352$36
37 years$2,017$1,322$841$523$319$30
38 years$1,943$1,257$788$482$289$25
39 years$1,872$1,195$738$444$262$21
40 years$1,805$1,137$692$410$238$18
41 years$1,741$1,082$649$378$216$15
42 years$1,681$1,031$609$349$196$13
43 years$1,623$982$571$322$178$11
44 years$1,568$936$536$297$161$9
45 years$1,516$893$503$275$146$7
46 years$1,466$852$473$254$133$6
47 years$1,419$813$444$234$121$5
48 years$1,374$776$417$217$110$4
49 years$1,330$741$392$200$100$4
50 years$1,289$708$369$185$90$3

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 $5,599 every year, while hoping to spend $36,012 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: 46/29/25 Blend
58$1,320,000$1,320,000$1,320,000$1,320,000
59$1,460,415$1,390,455$1,369,995$1,516,875
60$1,571,061$1,420,271$1,377,574$1,587,057
61$1,691,786$1,450,341$1,384,199$1,659,198
62$1,823,580$1,480,639$1,389,801$1,736,758
63$1,967,532$1,511,138$1,394,307$1,820,262
64$2,124,843$1,541,806$1,397,639$1,910,288
65$2,296,834$1,572,611$1,399,716$2,007,476
66$2,484,957$1,603,516$1,400,453$2,112,530
67$2,690,816$1,634,481$1,399,762$2,226,226
68$2,916,173$1,665,464$1,397,547$2,349,422
69$3,162,969$1,696,419$1,393,712$2,483,061
70$3,433,343$1,727,294$1,388,152$2,628,186
71$3,729,649$1,758,037$1,380,760$2,785,946
72$4,054,481$1,788,588$1,371,423$2,957,609
73$4,410,694$1,818,885$1,360,022$3,144,573
74$4,801,435$1,848,861$1,346,433$3,348,381
75$5,230,168$1,878,441$1,330,525$3,570,732
76$5,700,710$1,907,550$1,312,162$3,813,504
77$6,217,265$1,936,102$1,291,202$4,078,764
78$6,784,463$1,964,009$1,267,495$4,368,794
79$7,407,406$1,991,173$1,240,884$4,686,112
80$8,091,714$2,017,493$1,211,206$5,033,491
81$8,843,577$2,042,858$1,178,290$5,413,993
82$9,669,815$2,067,152$1,141,955$5,830,993
83$10,577,941$2,090,247$1,102,016$6,288,212
84$11,576,233$2,112,011$1,058,276$6,789,757
85$12,673,811$2,132,301$1,010,529$7,340,154
86$13,880,720$2,150,964$958,562$7,944,393
87$15,208,030$2,167,839$902,152$8,607,979
88$16,667,938$2,182,752$841,062$9,336,982
89$18,273,880$2,195,519$775,050$10,138,094
90$20,040,662$2,205,945$703,860$11,018,695
91$21,984,594$2,213,822$627,225$11,986,922
92$24,123,652$2,218,927$544,865$13,051,746
93$26,477,636$2,221,027$456,490$14,223,059
94$29,068,369$2,219,871$361,796$15,511,768
95$31,919,891$2,215,193$260,465$16,929,898
96$35,058,695$2,206,713$152,166$18,490,707
97$38,513,971$2,194,131$36,552$20,208,813
98$42,317,882$2,177,130$0$22,100,329
99$46,505,871$2,155,373$0$24,206,184
100$51,116,988$2,128,505$0$26,534,714