Can I retire at age 59 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$125,520$124,402$123,311$122,247$121,207$119,792
2 years$62,139$60,981$59,860$58,772$57,718$56,293
3 years$41,014$39,852$38,733$37,656$36,618$35,229
4 years$30,454$29,295$28,188$27,129$26,117$24,773
5 years$24,120$22,968$21,875$20,838$19,853$18,559
6 years$19,898$18,755$17,678$16,664$15,709$14,466
7 years$16,884$15,751$14,691$13,700$12,776$11,584
8 years$14,624$13,501$12,459$11,493$10,599$9,459
9 years$12,868$11,755$10,731$9,789$8,926$7,837
10 years$11,463$10,362$9,355$8,439$7,605$6,567
11 years$10,315$9,224$8,236$7,344$6,541$5,552
12 years$9,359$8,279$7,310$6,442$5,668$4,728
13 years$8,550$7,482$6,531$5,687$4,943$4,049
14 years$7,858$6,801$5,868$5,048$4,333$3,486
15 years$7,258$6,213$5,298$4,502$3,815$3,012
16 years$6,734$5,700$4,803$4,031$3,372$2,612
17 years$6,272$5,250$4,371$3,622$2,989$2,272
18 years$5,862$4,851$3,990$3,264$2,658$1,981
19 years$5,495$4,496$3,653$2,950$2,369$1,731
20 years$5,166$4,178$3,352$2,671$2,116$1,515
21 years$4,868$3,891$3,083$2,424$1,894$1,328
22 years$4,598$3,632$2,842$2,204$1,698$1,166
23 years$4,352$3,397$2,624$2,008$1,524$1,025
24 years$4,126$3,183$2,427$1,831$1,370$902
25 years$3,919$2,987$2,248$1,672$1,232$794
26 years$3,728$2,807$2,084$1,529$1,110$700
27 years$3,551$2,642$1,936$1,399$1,001$617
28 years$3,388$2,490$1,799$1,282$903$545
29 years$3,236$2,349$1,675$1,176$815$481
30 years$3,094$2,218$1,560$1,079$737$425
31 years$2,962$2,097$1,454$991$666$375
32 years$2,838$1,984$1,357$911$603$332
33 years$2,722$1,879$1,267$838$545$294
34 years$2,613$1,781$1,184$771$494$260
35 years$2,511$1,689$1,107$709$447$230
36 years$2,414$1,603$1,035$653$405$203
37 years$2,323$1,523$969$602$367$180
38 years$2,237$1,447$907$555$333$159
39 years$2,155$1,376$850$512$302$141
40 years$2,078$1,309$797$472$274$125
41 years$2,005$1,246$747$435$248$111
42 years$1,935$1,187$701$402$225$98
43 years$1,869$1,131$658$371$205$87
44 years$1,806$1,078$617$342$186$77
45 years$1,746$1,028$580$316$169$68
46 years$1,689$981$544$292$153$60
47 years$1,634$936$511$270$139$54
48 years$1,582$893$481$249$126$47
49 years$1,532$853$452$231$115$42
50 years$1,484$815$425$213$104$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,520,000, adding $2,531 every year, while hoping to spend $56,793 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: 41/44/15 Blend
58$1,520,000$1,520,000$1,520,000$1,520,000
59$1,677,651$1,597,091$1,573,531$1,738,907
60$1,788,344$1,614,921$1,565,817$1,800,267
61$1,908,424$1,631,721$1,555,941$1,860,875
62$2,038,789$1,647,381$1,543,771$1,925,252
63$2,180,426$1,661,784$1,529,167$1,993,769
64$2,334,421$1,674,802$1,511,986$2,066,835
65$2,501,969$1,686,304$1,492,074$2,144,906
66$2,684,383$1,696,147$1,469,273$2,228,485
67$2,883,112$1,704,179$1,443,414$2,318,130
68$3,099,745$1,710,240$1,414,325$2,414,459
69$3,336,036$1,714,159$1,381,821$2,518,156
70$3,593,912$1,715,753$1,345,713$2,629,980
71$3,875,495$1,714,829$1,305,799$2,750,769
72$4,183,123$1,711,184$1,261,870$2,881,451
73$4,519,367$1,704,597$1,213,709$3,023,056
74$4,887,060$1,694,839$1,161,085$3,176,720
75$5,289,319$1,681,665$1,103,760$3,343,702
76$5,729,577$1,664,814$1,041,483$3,525,394
77$6,211,615$1,644,011$973,994$3,723,338
78$6,739,596$1,618,964$901,019$3,939,238
79$7,318,104$1,589,363$822,273$4,174,977
80$7,952,189$1,554,880$737,458$4,432,639
81$8,647,411$1,515,168$646,261$4,714,529
82$9,409,896$1,469,860$548,359$5,023,195
83$10,246,387$1,418,565$443,412$5,361,451
84$11,164,316$1,360,873$331,064$5,732,410
85$12,171,867$1,296,346$210,945$6,139,512
86$13,278,056$1,224,525$82,670$6,586,557
87$14,492,812$1,144,921$0$7,077,745
88$15,827,076$1,057,019$0$7,626,394
89$17,292,898$960,274$0$8,243,635
90$18,903,556$854,109$0$8,921,955
91$20,673,674$737,916$0$9,667,682
92$22,619,366$611,051$0$10,487,797
93$24,758,383$472,834$0$11,390,008
94$27,110,283$322,548$0$12,382,819
95$29,696,613$159,434$0$13,475,614
96$32,541,112$0$0$14,678,750
97$35,669,937$0$0$16,012,035
98$39,111,906$0$0$17,563,898
99$42,898,770$0$0$19,271,488
100$47,065,513$0$0$21,150,608