Can I retire at age 59 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$123,869$122,765$121,689$120,638$119,612$114,912
2 years$61,321$60,179$59,072$57,999$56,958$52,280
3 years$40,475$39,328$38,224$37,161$36,137$31,628
4 years$30,053$28,910$27,817$26,772$25,773$21,468
5 years$23,802$22,666$21,587$20,564$19,592$15,503
6 years$19,636$18,508$17,446$16,445$15,503$11,631
7 years$16,662$15,543$14,497$13,520$12,608$8,952
8 years$14,432$13,323$12,295$11,342$10,459$7,016
9 years$12,698$11,600$10,590$9,661$8,808$5,573
10 years$11,312$10,225$9,232$8,328$7,505$4,471
11 years$10,179$9,103$8,128$7,247$6,455$3,614
12 years$9,236$8,170$7,213$6,357$5,593$2,940
13 years$8,438$7,384$6,445$5,612$4,878$2,403
14 years$7,754$6,711$5,791$4,982$4,276$1,971
15 years$7,163$6,131$5,228$4,443$3,765$1,622
16 years$6,646$5,625$4,740$3,978$3,327$1,338
17 years$6,190$5,181$4,313$3,574$2,950$1,106
18 years$5,785$4,787$3,937$3,221$2,623$916
19 years$5,423$4,437$3,605$2,911$2,338$760
20 years$5,098$4,123$3,308$2,636$2,088$631
21 years$4,804$3,840$3,043$2,393$1,869$524
22 years$4,537$3,585$2,804$2,175$1,675$436
23 years$4,294$3,353$2,589$1,981$1,504$363
24 years$4,072$3,141$2,395$1,807$1,352$302
25 years$3,867$2,948$2,218$1,650$1,216$251
26 years$3,679$2,770$2,057$1,509$1,096$209
27 years$3,505$2,607$1,910$1,381$988$175
28 years$3,343$2,457$1,776$1,265$891$146
29 years$3,193$2,318$1,652$1,160$805$121
30 years$3,053$2,189$1,539$1,065$727$101
31 years$2,923$2,069$1,435$978$657$84
32 years$2,801$1,958$1,339$899$595$70
33 years$2,686$1,854$1,250$827$538$59
34 years$2,579$1,757$1,168$761$487$49
35 years$2,478$1,667$1,092$700$441$41
36 years$2,382$1,582$1,022$645$400$34
37 years$2,292$1,503$956$594$362$28
38 years$2,207$1,428$895$548$329$24
39 years$2,127$1,358$839$505$298$20
40 years$2,051$1,292$786$466$270$17
41 years$1,978$1,230$737$430$245$14
42 years$1,910$1,171$692$397$222$12
43 years$1,844$1,116$649$366$202$10
44 years$1,782$1,064$609$338$183$8
45 years$1,723$1,014$572$312$166$7
46 years$1,666$968$537$288$151$6
47 years$1,613$923$505$266$137$5
48 years$1,561$882$474$246$125$4
49 years$1,512$842$446$227$113$3
50 years$1,465$804$419$210$103$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,500,000, adding $6,119 every year, while hoping to spend $32,401 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: 74/11/15 Blend
58$1,500,000$1,500,000$1,500,000$1,500,000
59$1,659,312$1,579,812$1,556,562$1,776,194
60$1,794,087$1,622,748$1,574,232$1,897,298
61$1,941,524$1,666,702$1,591,409$2,025,357
62$2,102,879$1,711,690$1,608,040$2,164,804
63$2,279,536$1,757,727$1,624,074$2,316,762
64$2,473,021$1,804,828$1,639,452$2,482,467
65$2,685,012$1,853,007$1,654,117$2,663,280
66$2,917,358$1,902,280$1,668,005$2,860,700
67$3,172,095$1,952,658$1,681,049$3,076,381
68$3,451,467$2,004,156$1,693,182$3,312,142
69$3,757,942$2,056,785$1,704,329$3,569,987
70$4,094,242$2,110,558$1,714,414$3,852,125
71$4,463,364$2,165,484$1,723,357$4,160,988
72$4,868,609$2,221,575$1,731,071$4,499,256
73$5,313,613$2,278,838$1,737,468$4,869,883
74$5,802,383$2,337,282$1,742,454$5,276,122
75$6,339,331$2,396,914$1,745,931$5,721,556
76$6,929,318$2,457,738$1,747,795$6,210,134
77$7,577,700$2,519,759$1,747,938$6,746,209
78$8,290,378$2,582,979$1,746,246$7,334,574
79$9,073,850$2,647,399$1,742,600$7,980,511
80$9,935,280$2,713,018$1,736,873$8,689,842
81$10,882,555$2,779,834$1,728,936$9,468,979
82$11,924,370$2,847,840$1,718,649$10,324,990
83$13,070,302$2,917,030$1,705,870$11,265,662
84$14,330,903$2,987,394$1,690,447$12,299,575
85$15,717,799$3,058,920$1,672,220$13,436,185
86$17,243,800$3,131,593$1,651,026$14,685,911
87$18,923,021$3,205,395$1,626,689$16,060,234
88$20,771,014$3,280,304$1,599,027$17,571,807
89$22,804,914$3,356,296$1,567,852$19,234,570
90$25,043,603$3,433,342$1,532,962$21,063,886
91$27,507,884$3,511,409$1,494,150$23,076,686
92$30,220,682$3,590,462$1,451,198$25,291,626
93$33,207,256$3,670,459$1,403,877$27,729,264
94$36,495,438$3,751,353$1,351,949$30,412,254
95$40,115,897$3,833,095$1,295,164$33,365,563
96$44,102,428$3,915,626$1,233,262$36,616,703
97$48,492,269$3,998,884$1,165,969$40,195,990
98$53,326,452$4,082,801$1,093,000$44,136,835
99$58,650,193$4,167,301$1,014,059$48,476,055
100$64,513,316$4,252,302$928,832$53,254,222