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

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$123,869$122,765$121,689$120,638$119,612$118,610
2 years$61,321$60,179$59,072$57,999$56,958$55,948
3 years$40,475$39,328$38,224$37,161$36,137$35,150
4 years$30,053$28,910$27,817$26,772$25,773$24,817
5 years$23,802$22,666$21,587$20,564$19,592$18,670
6 years$19,636$18,508$17,446$16,445$15,503$14,616
7 years$16,662$15,543$14,497$13,520$12,608$11,756
8 years$14,432$13,323$12,295$11,342$10,459$9,643
9 years$12,698$11,600$10,590$9,661$8,808$8,027
10 years$11,312$10,225$9,232$8,328$7,505$6,759
11 years$10,179$9,103$8,128$7,247$6,455$5,743
12 years$9,236$8,170$7,213$6,357$5,593$4,915
13 years$8,438$7,384$6,445$5,612$4,878$4,232
14 years$7,754$6,711$5,791$4,982$4,276$3,662
15 years$7,163$6,131$5,228$4,443$3,765$3,182
16 years$6,646$5,625$4,740$3,978$3,327$2,774
17 years$6,190$5,181$4,313$3,574$2,950$2,426
18 years$5,785$4,787$3,937$3,221$2,623$2,128
19 years$5,423$4,437$3,605$2,911$2,338$1,870
20 years$5,098$4,123$3,308$2,636$2,088$1,646
21 years$4,804$3,840$3,043$2,393$1,869$1,452
22 years$4,537$3,585$2,804$2,175$1,675$1,282
23 years$4,294$3,353$2,589$1,981$1,504$1,134
24 years$4,072$3,141$2,395$1,807$1,352$1,004
25 years$3,867$2,948$2,218$1,650$1,216$890
26 years$3,679$2,770$2,057$1,509$1,096$789
27 years$3,505$2,607$1,910$1,381$988$700
28 years$3,343$2,457$1,776$1,265$891$622
29 years$3,193$2,318$1,652$1,160$805$553
30 years$3,053$2,189$1,539$1,065$727$491
31 years$2,923$2,069$1,435$978$657$437
32 years$2,801$1,958$1,339$899$595$389
33 years$2,686$1,854$1,250$827$538$346
34 years$2,579$1,757$1,168$761$487$308
35 years$2,478$1,667$1,092$700$441$275
36 years$2,382$1,582$1,022$645$400$245
37 years$2,292$1,503$956$594$362$218
38 years$2,207$1,428$895$548$329$194
39 years$2,127$1,358$839$505$298$173
40 years$2,051$1,292$786$466$270$155
41 years$1,978$1,230$737$430$245$138
42 years$1,910$1,171$692$397$222$123
43 years$1,844$1,116$649$366$202$110
44 years$1,782$1,064$609$338$183$98
45 years$1,723$1,014$572$312$166$87
46 years$1,666$968$537$288$151$78
47 years$1,613$923$505$266$137$70
48 years$1,561$882$474$246$125$62
49 years$1,512$842$446$227$113$55
50 years$1,465$804$419$210$103$49

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 $2,516 every year, while hoping to spend $40,118 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: 48/40/12 Blend
58$1,500,000$1,500,000$1,500,000$1,500,000
59$1,655,595$1,576,095$1,552,845$1,729,469
60$1,781,781$1,610,639$1,562,180$1,815,154
61$1,919,493$1,645,530$1,570,484$1,903,766
62$2,069,864$1,680,744$1,577,678$1,999,076
63$2,234,143$1,716,253$1,583,683$2,101,721
64$2,413,702$1,752,027$1,588,413$2,212,405
65$2,610,055$1,788,031$1,591,780$2,331,902
66$2,824,865$1,824,229$1,593,689$2,461,068
67$3,059,966$1,860,581$1,594,042$2,600,842
68$3,317,377$1,897,044$1,592,737$2,752,261
69$3,599,321$1,933,570$1,589,665$2,916,469
70$3,908,245$1,970,109$1,584,713$3,094,724
71$4,246,846$2,006,605$1,577,761$3,288,415
72$4,618,093$2,042,997$1,568,685$3,499,072
73$5,025,257$2,079,222$1,557,354$3,728,381
74$5,471,939$2,115,210$1,543,631$3,978,203
75$5,962,107$2,150,885$1,527,373$4,250,586
76$6,500,131$2,186,168$1,508,429$4,547,789
77$7,090,825$2,220,971$1,486,642$4,872,304
78$7,739,492$2,255,201$1,461,847$5,226,876
79$8,451,973$2,288,758$1,433,871$5,614,532
80$9,234,703$2,321,536$1,402,535$6,038,608
81$10,094,771$2,353,420$1,367,649$6,502,783
82$11,039,988$2,384,288$1,329,015$7,011,113
83$12,078,956$2,414,007$1,286,426$7,568,067
84$13,221,155$2,442,439$1,239,667$8,178,575
85$14,477,028$2,469,434$1,188,511$8,848,070
86$15,858,081$2,494,832$1,132,722$9,582,541
87$17,376,989$2,518,463$1,072,052$10,388,593
88$19,047,719$2,540,145$1,006,244$11,273,504
89$20,885,660$2,559,686$935,026$12,245,301
90$22,907,766$2,576,879$858,118$13,312,829
91$25,132,717$2,591,505$775,224$14,485,843
92$27,581,096$2,603,331$686,036$15,775,095
93$30,275,583$2,612,109$590,233$17,192,435
94$33,241,165$2,617,575$487,479$18,750,931
95$36,505,378$2,619,450$377,423$20,464,987
96$40,098,558$2,617,435$259,699$22,350,479
97$44,054,137$2,611,215$133,924$24,424,912
98$48,408,949$2,600,454$0$26,707,579
99$53,203,582$2,584,797$0$29,219,787
100$58,482,761$2,563,865$0$32,003,247