Can I retire at age 59 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$127,172$126,039$124,934$123,855$122,802$119,979
2 years$62,956$61,784$60,647$59,546$58,477$55,649
3 years$41,554$40,376$39,243$38,152$37,100$34,355
4 years$30,855$29,681$28,559$27,486$26,460$23,819
5 years$24,437$23,270$22,163$21,112$20,115$17,585
6 years$20,160$19,002$17,911$16,883$15,916$13,500
7 years$17,106$15,958$14,884$13,881$12,944$10,642
8 years$14,817$13,679$12,623$11,644$10,738$8,550
9 years$13,037$11,910$10,872$9,918$9,043$6,967
10 years$11,614$10,498$9,478$8,550$7,705$5,738
11 years$10,451$9,346$8,345$7,441$6,627$4,767
12 years$9,482$8,388$7,406$6,527$5,743$3,987
13 years$8,663$7,580$6,617$5,762$5,008$3,352
14 years$7,961$6,890$5,945$5,115$4,390$2,831
15 years$7,354$6,295$5,368$4,562$3,865$2,400
16 years$6,823$5,775$4,866$4,084$3,416$2,041
17 years$6,355$5,319$4,428$3,670$3,029$1,740
18 years$5,939$4,915$4,042$3,307$2,693$1,487
19 years$5,568$4,555$3,701$2,988$2,400$1,272
20 years$5,234$4,233$3,396$2,707$2,144$1,091
21 years$4,932$3,943$3,124$2,456$1,919$936
22 years$4,658$3,680$2,879$2,233$1,720$804
23 years$4,409$3,442$2,658$2,034$1,544$692
24 years$4,180$3,225$2,459$1,855$1,388$595
25 years$3,970$3,026$2,277$1,694$1,249$513
26 years$3,777$2,844$2,112$1,549$1,125$442
27 years$3,598$2,677$1,961$1,418$1,014$381
28 years$3,432$2,522$1,823$1,299$915$329
29 years$3,278$2,380$1,697$1,191$826$284
30 years$3,135$2,247$1,580$1,093$747$245
31 years$3,001$2,124$1,473$1,004$675$212
32 years$2,875$2,010$1,375$923$611$183
33 years$2,758$1,904$1,283$849$553$158
34 years$2,648$1,804$1,199$781$500$136
35 years$2,544$1,711$1,121$719$453$118
36 years$2,446$1,624$1,049$662$411$102
37 years$2,354$1,543$982$610$372$88
38 years$2,266$1,466$919$562$337$76
39 years$2,184$1,394$861$518$306$66
40 years$2,105$1,326$807$478$277$57
41 years$2,031$1,263$757$441$252$49
42 years$1,961$1,202$710$407$228$43
43 years$1,894$1,146$666$376$207$37
44 years$1,830$1,092$625$347$188$32
45 years$1,769$1,041$587$320$171$28
46 years$1,711$993$552$296$155$24
47 years$1,656$948$518$273$141$21
48 years$1,603$905$487$253$128$18
49 years$1,552$864$458$234$116$15
50 years$1,504$826$430$216$106$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,540,000, adding $6,533 every year, while hoping to spend $30,618 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: 50/40/10 Blend
58$1,540,000$1,540,000$1,540,000$1,540,000
59$1,703,819$1,622,199$1,598,329$1,784,168
60$1,845,031$1,669,109$1,619,295$1,886,734
61$1,999,621$1,717,292$1,639,938$1,994,339
62$2,168,920$1,766,777$1,660,214$2,110,561
63$2,354,396$1,817,596$1,680,078$2,236,215
64$2,557,664$1,869,778$1,699,480$2,372,200
65$2,780,504$1,923,355$1,718,371$2,519,504
66$3,024,875$1,978,359$1,736,696$2,679,215
67$3,292,936$2,034,823$1,754,399$2,852,530
68$3,587,065$2,092,778$1,771,420$3,040,766
69$3,909,879$2,152,257$1,787,697$3,245,374
70$4,264,264$2,213,295$1,803,161$3,467,950
71$4,653,396$2,275,924$1,817,745$3,710,252
72$5,080,777$2,340,179$1,831,374$3,974,215
73$5,550,262$2,406,093$1,843,970$4,261,971
74$6,066,098$2,473,701$1,855,453$4,575,865
75$6,632,966$2,543,038$1,865,736$4,918,483
76$7,256,019$2,614,138$1,874,730$5,292,669
77$7,940,939$2,687,037$1,882,339$5,701,560
78$8,693,983$2,761,769$1,888,465$6,148,606
79$9,522,043$2,838,370$1,893,002$6,637,610
80$10,432,715$2,916,874$1,895,842$7,172,761
81$11,434,368$2,997,317$1,896,869$7,758,673
82$12,536,221$3,079,733$1,895,962$8,400,428
83$13,748,433$3,164,158$1,892,994$9,103,625
84$15,082,197$3,250,625$1,887,832$9,874,431
85$16,549,844$3,339,168$1,880,338$10,719,643
86$18,164,963$3,429,822$1,870,364$11,646,746
87$19,942,526$3,522,620$1,857,758$12,663,988
88$21,899,029$3,617,594$1,842,358$13,780,456
89$24,052,650$3,714,776$1,823,997$15,006,162
90$26,423,418$3,814,198$1,802,499$16,352,138
91$29,033,403$3,915,890$1,777,678$17,830,536
92$31,906,921$4,019,880$1,749,342$19,454,749
93$35,070,771$4,126,197$1,717,289$21,239,533
94$38,554,477$4,234,869$1,681,305$23,201,146
95$42,390,575$4,345,919$1,641,171$25,357,503
96$46,614,918$4,459,373$1,596,654$27,728,344
97$51,267,009$4,575,251$1,547,511$30,335,422
98$56,390,380$4,693,575$1,493,489$33,202,704
99$62,033,001$4,814,362$1,434,323$36,356,602
100$68,247,729$4,937,628$1,369,735$39,826,219