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

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$110,656$109,670$108,709$107,770$106,853$104,525
2 years$54,780$53,760$52,771$51,813$50,883$48,549
3 years$36,157$35,133$34,146$33,197$32,282$30,015
4 years$26,848$25,826$24,850$23,916$23,024$20,842
5 years$21,263$20,248$19,285$18,370$17,502$15,411
6 years$17,542$16,534$15,585$14,691$13,849$11,851
7 years$14,885$13,885$12,951$12,078$11,263$9,358
8 years$12,893$11,902$10,983$10,132$9,344$7,531
9 years$11,344$10,363$9,460$8,630$7,869$6,148
10 years$10,106$9,135$8,248$7,439$6,705$5,073
11 years$9,093$8,132$7,261$6,474$5,766$4,222
12 years$8,250$7,299$6,444$5,679$4,997$3,538
13 years$7,538$6,596$5,757$5,014$4,357$2,981
14 years$6,927$5,996$5,173$4,451$3,820$2,523
15 years$6,399$5,477$4,670$3,969$3,363$2,143
16 years$5,937$5,025$4,234$3,554$2,972$1,826
17 years$5,529$4,628$3,853$3,193$2,635$1,560
18 years$5,168$4,276$3,517$2,878$2,343$1,336
19 years$4,845$3,963$3,220$2,600$2,089$1,146
20 years$4,554$3,683$2,955$2,355$1,866$985
21 years$4,292$3,430$2,718$2,137$1,670$847
22 years$4,053$3,202$2,505$1,943$1,496$730
23 years$3,836$2,995$2,313$1,770$1,343$629
24 years$3,637$2,806$2,139$1,614$1,207$543
25 years$3,455$2,633$1,981$1,474$1,086$469
26 years$3,286$2,475$1,838$1,348$979$405
27 years$3,131$2,329$1,706$1,234$882$350
28 years$2,987$2,195$1,586$1,130$796$303
29 years$2,853$2,071$1,476$1,037$719$262
30 years$2,728$1,955$1,375$951$650$227
31 years$2,611$1,849$1,282$874$587$196
32 years$2,502$1,749$1,196$803$531$170
33 years$2,400$1,656$1,117$738$481$147
34 years$2,304$1,570$1,043$679$435$127
35 years$2,213$1,489$976$625$394$110
36 years$2,128$1,413$913$576$357$96
37 years$2,048$1,342$854$531$324$83
38 years$1,972$1,276$800$489$294$72
39 years$1,900$1,213$749$451$266$62
40 years$1,832$1,154$702$416$241$54
41 years$1,767$1,099$659$384$219$47
42 years$1,706$1,046$618$354$199$41
43 years$1,648$997$580$327$180$35
44 years$1,592$950$544$302$164$30
45 years$1,539$906$511$279$149$26
46 years$1,489$864$480$258$135$23
47 years$1,441$825$451$238$123$20
48 years$1,394$788$424$220$111$17
49 years$1,350$752$398$203$101$15
50 years$1,308$718$374$188$92$13

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 $2,290 every year, while hoping to spend $42,052 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: 33/50/17 Blend
58$1,340,000$1,340,000$1,340,000$1,340,000
59$1,479,042$1,408,022$1,387,252$1,519,959
60$1,585,161$1,432,272$1,388,982$1,574,581
61$1,700,695$1,456,301$1,389,361$1,629,356
62$1,826,560$1,480,054$1,388,298$1,687,492
63$1,963,764$1,503,471$1,385,700$1,749,309
64$2,113,415$1,526,488$1,381,468$1,815,159
65$2,276,735$1,549,038$1,375,499$1,885,432
66$2,455,068$1,571,046$1,367,685$1,960,561
67$2,649,893$1,592,436$1,357,910$2,041,021
68$2,862,839$1,613,123$1,346,058$2,127,340
69$3,095,700$1,633,017$1,332,001$2,220,102
70$3,350,449$1,652,022$1,315,611$2,319,952
71$3,629,261$1,670,037$1,296,750$2,427,602
72$3,934,529$1,686,952$1,275,274$2,543,842
73$4,268,889$1,702,651$1,251,035$2,669,541
74$4,635,245$1,717,010$1,223,874$2,805,664
75$5,036,793$1,729,897$1,193,627$2,953,275
76$5,477,056$1,741,172$1,160,123$3,113,551
77$5,959,909$1,750,683$1,123,181$3,287,792
78$6,489,627$1,758,273$1,082,614$3,477,435
79$7,070,912$1,763,772$1,038,225$3,684,067
80$7,708,947$1,766,999$989,808$3,909,444
81$8,409,442$1,767,764$937,148$4,155,502
82$9,178,684$1,765,863$880,021$4,424,383
83$10,023,599$1,761,081$818,192$4,718,452
84$10,951,821$1,753,188$751,416$5,040,320
85$11,971,753$1,741,941$679,435$5,392,873
86$13,092,659$1,727,083$601,983$5,779,296
87$14,324,740$1,708,340$518,779$6,203,107
88$15,679,237$1,685,422$429,532$6,668,191
89$17,168,535$1,658,023$333,937$7,178,837
90$18,806,276$1,625,817$231,674$7,739,780
91$20,607,493$1,588,459$122,412$8,356,247
92$22,588,748$1,545,584$5,804$9,034,011
93$24,768,289$1,496,806$0$9,779,439
94$27,166,221$1,441,716$0$10,621,084
95$29,804,696$1,379,881$0$11,547,707
96$32,708,122$1,310,842$0$12,566,889
97$35,903,394$1,234,116$0$13,688,158
98$39,420,143$1,149,191$0$14,922,019
99$43,291,020$1,055,524$0$16,280,061
100$47,552,003$952,543$0$17,775,069