Can I retire at age 59 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$110,656$109,670$108,709$107,770$106,853$105,040
2 years$54,780$53,760$52,771$51,813$50,883$49,061
3 years$36,157$35,133$34,146$33,197$32,282$30,509
4 years$26,848$25,826$24,850$23,916$23,024$21,314
5 years$21,263$20,248$19,285$18,370$17,502$15,859
6 years$17,542$16,534$15,585$14,691$13,849$12,275
7 years$14,885$13,885$12,951$12,078$11,263$9,759
8 years$12,893$11,902$10,983$10,132$9,344$7,909
9 years$11,344$10,363$9,460$8,630$7,869$6,502
10 years$10,106$9,135$8,248$7,439$6,705$5,406
11 years$9,093$8,132$7,261$6,474$5,766$4,533
12 years$8,250$7,299$6,444$5,679$4,997$3,828
13 years$7,538$6,596$5,757$5,014$4,357$3,251
14 years$6,927$5,996$5,173$4,451$3,820$2,774
15 years$6,399$5,477$4,670$3,969$3,363$2,376
16 years$5,937$5,025$4,234$3,554$2,972$2,042
17 years$5,529$4,628$3,853$3,193$2,635$1,760
18 years$5,168$4,276$3,517$2,878$2,343$1,520
19 years$4,845$3,963$3,220$2,600$2,089$1,316
20 years$4,554$3,683$2,955$2,355$1,866$1,140
21 years$4,292$3,430$2,718$2,137$1,670$990
22 years$4,053$3,202$2,505$1,943$1,496$861
23 years$3,836$2,995$2,313$1,770$1,343$749
24 years$3,637$2,806$2,139$1,614$1,207$652
25 years$3,455$2,633$1,981$1,474$1,086$569
26 years$3,286$2,475$1,838$1,348$979$496
27 years$3,131$2,329$1,706$1,234$882$433
28 years$2,987$2,195$1,586$1,130$796$378
29 years$2,853$2,071$1,476$1,037$719$330
30 years$2,728$1,955$1,375$951$650$289
31 years$2,611$1,849$1,282$874$587$252
32 years$2,502$1,749$1,196$803$531$221
33 years$2,400$1,656$1,117$738$481$193
34 years$2,304$1,570$1,043$679$435$169
35 years$2,213$1,489$976$625$394$148
36 years$2,128$1,413$913$576$357$129
37 years$2,048$1,342$854$531$324$113
38 years$1,972$1,276$800$489$294$99
39 years$1,900$1,213$749$451$266$87
40 years$1,832$1,154$702$416$241$76
41 years$1,767$1,099$659$384$219$67
42 years$1,706$1,046$618$354$199$58
43 years$1,648$997$580$327$180$51
44 years$1,592$950$544$302$164$45
45 years$1,539$906$511$279$149$39
46 years$1,489$864$480$258$135$34
47 years$1,441$825$451$238$123$30
48 years$1,394$788$424$220$111$26
49 years$1,350$752$398$203$101$23
50 years$1,308$718$374$188$92$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,340,000, adding $6,660 every year, while hoping to spend $28,838 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: 73/5/22 Blend
58$1,340,000$1,340,000$1,340,000$1,340,000
59$1,483,550$1,412,530$1,391,760$1,583,409
60$1,604,188$1,451,060$1,407,700$1,689,268
61$1,736,166$1,490,512$1,423,208$1,801,116
62$1,880,608$1,530,901$1,438,239$1,922,933
63$2,038,754$1,572,239$1,452,745$2,055,709
64$2,211,971$1,614,543$1,466,676$2,200,531
65$2,401,762$1,657,825$1,479,979$2,358,597
66$2,609,783$1,702,100$1,492,599$2,531,228
67$2,837,858$1,747,380$1,504,478$2,719,879
68$3,087,995$1,793,677$1,515,554$2,926,153
69$3,362,408$1,841,005$1,525,763$3,151,815
70$3,663,533$1,889,374$1,535,035$3,398,811
71$3,994,055$1,938,795$1,543,301$3,669,285
72$4,356,931$1,989,278$1,550,483$3,965,600
73$4,755,418$2,040,832$1,556,504$4,290,358
74$5,193,104$2,093,466$1,561,281$4,646,427
75$5,673,942$2,147,187$1,564,725$5,036,968
76$6,202,286$2,202,002$1,566,745$5,465,464
77$6,782,934$2,257,915$1,567,246$5,935,753
78$7,421,170$2,314,930$1,566,126$6,452,062
79$8,122,818$2,373,049$1,563,279$7,019,053
80$8,894,291$2,432,274$1,558,595$7,641,860
81$9,742,657$2,492,604$1,551,956$8,326,143
82$10,675,703$2,554,037$1,543,241$9,078,138
83$11,702,007$2,616,567$1,532,322$9,904,717
84$12,831,022$2,680,189$1,519,065$10,813,453
85$14,073,161$2,744,893$1,503,329$11,812,692
86$15,439,901$2,810,670$1,484,968$12,911,631
87$16,943,882$2,877,505$1,463,826$14,120,405
88$18,599,037$2,945,381$1,439,743$15,450,184
89$20,420,715$3,014,281$1,412,550$16,913,276
90$22,425,828$3,084,180$1,382,071$18,523,245
91$24,633,011$3,155,054$1,348,119$20,295,040
92$27,062,800$3,226,873$1,310,502$22,245,135
93$29,737,819$3,299,604$1,269,018$24,391,683
94$32,683,000$3,373,208$1,223,454$26,754,691
95$35,925,816$3,447,645$1,173,589$29,356,207
96$39,496,537$3,522,867$1,119,192$32,220,528
97$43,428,520$3,598,824$1,060,021$35,374,429
98$47,758,520$3,675,457$995,823$38,847,420
99$52,527,039$3,752,705$926,333$42,672,020
100$57,778,707$3,830,498$851,276$46,884,064