Can I retire at age 59 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$117,262$116,218$115,199$114,204$113,233$108,869
2 years$58,051$56,969$55,922$54,906$53,920$49,576
3 years$38,316$37,230$36,185$35,179$34,209$30,021
4 years$28,451$27,368$26,333$25,344$24,398$20,398
5 years$22,533$21,457$20,436$19,467$18,547$14,745
6 years$18,589$17,521$16,515$15,568$14,676$11,075
7 years$15,773$14,714$13,724$12,799$11,935$8,534
8 years$13,662$12,613$11,639$10,737$9,902$6,697
9 years$12,021$10,982$10,025$9,145$8,339$5,325
10 years$10,709$9,680$8,740$7,883$7,105$4,278
11 years$9,636$8,617$7,694$6,861$6,110$3,463
12 years$8,743$7,735$6,829$6,018$5,295$2,820
13 years$7,988$6,990$6,101$5,313$4,617$2,308
14 years$7,341$6,354$5,482$4,716$4,048$1,896
15 years$6,781$5,804$4,949$4,206$3,564$1,563
16 years$6,291$5,325$4,487$3,766$3,150$1,291
17 years$5,860$4,904$4,083$3,384$2,793$1,069
18 years$5,476$4,532$3,727$3,049$2,483$886
19 years$5,134$4,200$3,412$2,755$2,213$736
20 years$4,826$3,903$3,132$2,496$1,977$612
21 years$4,548$3,635$2,880$2,265$1,769$509
22 years$4,295$3,393$2,655$2,059$1,586$424
23 years$4,065$3,174$2,451$1,875$1,424$354
24 years$3,855$2,974$2,267$1,711$1,280$295
25 years$3,661$2,791$2,100$1,562$1,151$246
26 years$3,483$2,623$1,947$1,428$1,037$205
27 years$3,318$2,468$1,808$1,307$935$171
28 years$3,165$2,326$1,681$1,198$844$143
29 years$3,023$2,194$1,564$1,098$762$120
30 years$2,891$2,072$1,457$1,008$688$100
31 years$2,767$1,959$1,358$926$622$83
32 years$2,651$1,854$1,267$851$563$70
33 years$2,543$1,755$1,183$782$509$58
34 years$2,441$1,664$1,106$720$461$49
35 years$2,346$1,578$1,034$663$418$41
36 years$2,255$1,498$967$610$379$34
37 years$2,170$1,422$905$562$343$28
38 years$2,090$1,352$848$518$311$24
39 years$2,014$1,285$794$478$282$20
40 years$1,941$1,223$744$441$256$17
41 years$1,873$1,164$698$407$232$14
42 years$1,808$1,109$655$375$211$12
43 years$1,746$1,056$614$347$191$10
44 years$1,687$1,007$577$320$173$8
45 years$1,631$960$541$295$158$7
46 years$1,578$916$509$273$143$6
47 years$1,527$874$478$252$130$5
48 years$1,478$835$449$233$118$4
49 years$1,431$797$422$215$107$3
50 years$1,386$761$397$199$97$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,420,000, adding $5,156 every year, while hoping to spend $28,474 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: 81/7/12 Blend
58$1,420,000$1,420,000$1,420,000$1,420,000
59$1,570,158$1,494,898$1,472,888$1,693,514
60$1,700,018$1,537,852$1,491,934$1,818,153
61$1,842,170$1,581,957$1,510,663$1,950,688
62$1,997,836$1,627,238$1,529,036$2,095,331
63$2,168,365$1,673,722$1,547,008$2,253,283
64$2,355,241$1,721,437$1,564,535$2,425,863
65$2,560,098$1,770,409$1,581,569$2,614,528
66$2,784,735$1,820,667$1,598,060$2,820,880
67$3,031,136$1,872,238$1,613,953$3,046,684
68$3,301,485$1,925,150$1,629,192$3,293,885
69$3,598,185$1,979,431$1,643,720$3,564,623
70$3,923,888$2,035,111$1,657,472$3,861,260
71$4,281,511$2,092,218$1,670,384$4,186,393
72$4,674,269$2,150,781$1,682,386$4,542,887
73$5,105,704$2,210,829$1,693,405$4,933,895
74$5,579,717$2,272,390$1,703,365$5,362,893
75$6,100,606$2,335,495$1,712,186$5,833,709
76$6,673,106$2,400,173$1,719,783$6,350,562
77$7,302,434$2,466,452$1,726,066$6,918,100
78$7,994,337$2,534,363$1,730,943$7,541,443
79$8,755,145$2,603,933$1,734,316$8,226,233
80$9,591,836$2,675,191$1,736,082$8,978,687
81$10,512,094$2,748,167$1,736,132$9,805,652
82$11,524,389$2,822,888$1,734,353$10,714,678
83$12,638,049$2,899,382$1,730,627$11,714,078
84$13,863,356$2,977,677$1,724,828$12,813,017
85$15,211,634$3,057,800$1,716,826$14,021,589
86$16,695,365$3,139,776$1,706,484$15,350,921
87$18,328,299$3,223,632$1,693,658$16,813,270
88$20,125,588$3,309,392$1,678,197$18,422,144
89$22,103,925$3,397,080$1,659,945$20,192,427
90$24,281,708$3,486,719$1,638,735$22,140,522
91$26,679,204$3,578,330$1,614,394$24,284,502
92$29,318,749$3,671,934$1,586,743$26,644,281
93$32,224,953$3,767,550$1,555,590$29,241,806
94$35,424,933$3,865,196$1,520,738$32,101,260
95$38,948,573$3,964,887$1,481,979$35,249,292
96$42,828,798$4,066,637$1,439,096$38,715,266
97$47,101,892$4,170,458$1,391,862$42,531,543
98$51,807,834$4,276,360$1,340,039$46,733,781
99$56,990,681$4,384,350$1,283,378$51,361,276
100$62,698,980$4,494,433$1,221,621$56,457,330