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%17.2%
1 years$117,262$116,218$115,199$114,204$113,233$109,916
2 years$58,051$56,969$55,922$54,906$53,920$50,606
3 years$38,316$37,230$36,185$35,179$34,209$31,001
4 years$28,451$27,368$26,333$25,344$24,398$21,321
5 years$22,533$21,457$20,436$19,467$18,547$15,608
6 years$18,589$17,521$16,515$15,568$14,676$11,878
7 years$15,773$14,714$13,724$12,799$11,935$9,280
8 years$13,662$12,613$11,639$10,737$9,902$7,386
9 years$12,021$10,982$10,025$9,145$8,339$5,960
10 years$10,709$9,680$8,740$7,883$7,105$4,861
11 years$9,636$8,617$7,694$6,861$6,110$3,996
12 years$8,743$7,735$6,829$6,018$5,295$3,307
13 years$7,988$6,990$6,101$5,313$4,617$2,751
14 years$7,341$6,354$5,482$4,716$4,048$2,298
15 years$6,781$5,804$4,949$4,206$3,564$1,927
16 years$6,291$5,325$4,487$3,766$3,150$1,620
17 years$5,860$4,904$4,083$3,384$2,793$1,365
18 years$5,476$4,532$3,727$3,049$2,483$1,152
19 years$5,134$4,200$3,412$2,755$2,213$975
20 years$4,826$3,903$3,132$2,496$1,977$825
21 years$4,548$3,635$2,880$2,265$1,769$700
22 years$4,295$3,393$2,655$2,059$1,586$594
23 years$4,065$3,174$2,451$1,875$1,424$504
24 years$3,855$2,974$2,267$1,711$1,280$429
25 years$3,661$2,791$2,100$1,562$1,151$364
26 years$3,483$2,623$1,947$1,428$1,037$310
27 years$3,318$2,468$1,808$1,307$935$264
28 years$3,165$2,326$1,681$1,198$844$225
29 years$3,023$2,194$1,564$1,098$762$191
30 years$2,891$2,072$1,457$1,008$688$163
31 years$2,767$1,959$1,358$926$622$139
32 years$2,651$1,854$1,267$851$563$118
33 years$2,543$1,755$1,183$782$509$101
34 years$2,441$1,664$1,106$720$461$86
35 years$2,346$1,578$1,034$663$418$73
36 years$2,255$1,498$967$610$379$63
37 years$2,170$1,422$905$562$343$53
38 years$2,090$1,352$848$518$311$46
39 years$2,014$1,285$794$478$282$39
40 years$1,941$1,223$744$441$256$33
41 years$1,873$1,164$698$407$232$28
42 years$1,808$1,109$655$375$211$24
43 years$1,746$1,056$614$347$191$21
44 years$1,687$1,007$577$320$173$18
45 years$1,631$960$541$295$158$15
46 years$1,578$916$509$273$143$13
47 years$1,527$874$478$252$130$11
48 years$1,478$835$449$233$118$9
49 years$1,431$797$422$215$107$8
50 years$1,386$761$397$199$97$7

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 $2,217 every year, while hoping to spend $20,002 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: 62/26/12 Blend
58$1,420,000$1,420,000$1,420,000$1,420,000
59$1,567,127$1,491,867$1,469,857$1,659,724
60$1,705,692$1,543,686$1,497,815$1,773,883
61$1,857,720$1,597,375$1,526,040$1,895,952
62$2,024,564$1,653,002$1,554,518$2,028,705
63$2,207,712$1,710,642$1,583,237$2,173,179
64$2,408,806$1,770,371$1,612,183$2,330,514
65$2,629,652$1,832,267$1,641,339$2,501,963
66$2,872,242$1,896,413$1,670,689$2,688,908
67$3,138,768$1,962,896$1,700,215$2,892,868
68$3,431,648$2,031,802$1,729,897$3,115,517
69$3,753,542$2,103,226$1,759,715$3,358,694
70$4,107,382$2,177,264$1,789,645$3,624,428
71$4,496,401$2,254,015$1,819,663$3,914,950
72$4,924,156$2,333,585$1,849,744$4,232,718
73$5,394,570$2,416,080$1,879,861$4,580,436
74$5,911,963$2,501,615$1,909,983$4,961,084
75$6,481,094$2,590,305$1,940,079$5,377,942
76$7,107,210$2,682,275$1,970,115$5,834,624
77$7,796,089$2,777,649$2,000,057$6,335,107
78$8,554,097$2,876,561$2,029,867$6,883,774
79$9,388,251$2,979,148$2,059,503$7,485,450
80$10,306,279$3,085,554$2,088,923$8,145,450
81$11,316,701$3,195,927$2,118,083$8,869,630
82$12,428,899$3,310,422$2,146,934$9,664,436
83$13,653,215$3,429,201$2,175,424$10,536,974
84$15,001,044$3,552,432$2,203,502$11,495,066
85$16,484,939$3,680,291$2,231,108$12,547,331
86$18,118,737$3,812,959$2,258,184$13,703,265
87$19,917,680$3,950,626$2,284,665$14,973,327
88$21,898,567$4,093,490$2,310,485$16,369,039
89$24,079,906$4,241,757$2,335,572$17,903,095
90$26,482,095$4,395,641$2,359,852$19,589,479
91$29,127,607$4,555,365$2,383,245$21,443,599
92$32,041,207$4,721,163$2,405,668$23,482,429
93$35,250,186$4,893,276$2,427,034$25,724,668
94$38,784,616$5,071,957$2,447,250$28,190,922
95$42,677,633$5,257,469$2,466,220$30,903,890
96$46,965,753$5,450,087$2,483,839$33,888,584
97$51,689,214$5,650,095$2,500,002$37,172,559
98$56,892,356$5,857,792$2,514,594$40,786,180
99$62,624,039$6,073,487$2,527,496$44,762,899
100$68,938,108$6,297,504$2,538,584$49,139,576