Can I retire at age 59 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$135,430$134,223$133,046$131,898$130,776$126,236
2 years$67,044$65,796$64,586$63,412$62,274$57,748
3 years$44,252$42,998$41,791$40,629$39,509$35,138
4 years$32,858$31,608$30,413$29,271$28,178$23,996
5 years$26,024$24,781$23,602$22,483$21,421$17,438
6 years$21,469$20,236$19,074$17,980$16,950$13,169
7 years$18,217$16,994$15,850$14,782$13,784$10,206
8 years$15,779$14,567$13,442$12,400$11,436$8,056
9 years$13,884$12,683$11,578$10,562$9,630$6,446
10 years$12,368$11,180$10,094$9,105$8,206$5,211
11 years$11,129$9,953$8,887$7,924$7,057$4,246
12 years$10,098$8,933$7,887$6,950$6,116$3,481
13 years$9,225$8,073$7,046$6,136$5,333$2,868
14 years$8,478$7,338$6,331$5,447$4,675$2,373
15 years$7,831$6,703$5,716$4,858$4,116$1,970
16 years$7,266$6,150$5,182$4,350$3,638$1,639
17 years$6,767$5,664$4,716$3,908$3,225$1,367
18 years$6,325$5,234$4,305$3,522$2,868$1,142
19 years$5,929$4,851$3,941$3,182$2,556$956
20 years$5,574$4,507$3,617$2,882$2,283$801
21 years$5,253$4,199$3,327$2,616$2,043$672
22 years$4,961$3,919$3,066$2,378$1,832$564
23 years$4,695$3,666$2,831$2,166$1,644$474
24 years$4,452$3,434$2,618$1,976$1,478$398
25 years$4,228$3,223$2,425$1,804$1,330$335
26 years$4,022$3,029$2,249$1,650$1,198$282
27 years$3,832$2,851$2,088$1,510$1,080$237
28 years$3,655$2,686$1,941$1,383$974$200
29 years$3,491$2,534$1,807$1,269$880$168
30 years$3,338$2,393$1,683$1,164$795$142
31 years$3,196$2,262$1,569$1,069$719$119
32 years$3,062$2,141$1,464$983$650$100
33 years$2,937$2,027$1,367$904$588$85
34 years$2,819$1,921$1,277$831$533$71
35 years$2,709$1,822$1,194$765$483$60
36 years$2,605$1,730$1,117$705$437$51
37 years$2,506$1,643$1,045$650$396$43
38 years$2,413$1,561$979$599$359$36
39 years$2,325$1,485$917$552$326$30
40 years$2,242$1,412$860$509$295$26
41 years$2,163$1,345$806$470$268$22
42 years$2,088$1,281$756$434$243$18
43 years$2,017$1,220$710$400$221$15
44 years$1,949$1,163$666$370$200$13
45 years$1,884$1,109$625$341$182$11
46 years$1,822$1,058$587$315$165$9
47 years$1,763$1,010$552$291$150$8
48 years$1,707$964$519$269$136$7
49 years$1,653$920$487$249$124$6
50 years$1,601$879$458$230$112$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,640,000, adding $6,790 every year, while hoping to spend $30,002 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: 79/9/12 Blend
58$1,640,000$1,640,000$1,640,000$1,640,000
59$1,814,284$1,727,364$1,701,944$1,953,011
60$1,967,419$1,780,083$1,727,037$2,097,882
61$2,135,168$1,834,379$1,751,965$2,252,228
62$2,318,991$1,890,299$1,776,692$2,420,699
63$2,520,493$1,947,890$1,801,176$2,604,692
64$2,741,445$2,007,198$1,825,378$2,805,747
65$2,983,796$2,068,274$1,849,251$3,025,561
66$3,249,693$2,131,169$1,872,750$3,266,002
67$3,541,500$2,195,934$1,895,826$3,529,128
68$3,861,822$2,262,624$1,918,425$3,817,203
69$4,213,527$2,331,293$1,940,492$4,132,726
70$4,599,778$2,401,997$1,961,969$4,478,445
71$5,024,055$2,474,794$1,982,795$4,857,390
72$5,490,194$2,549,744$2,002,904$5,272,897
73$6,002,420$2,626,908$2,022,227$5,728,642
74$6,565,388$2,706,348$2,040,693$6,228,675
75$7,184,227$2,788,128$2,058,226$6,777,457
76$7,864,586$2,872,314$2,074,744$7,379,903
77$8,612,690$2,958,974$2,090,165$8,041,429
78$9,435,397$3,048,177$2,104,398$8,768,000
79$10,340,263$3,139,993$2,117,351$9,566,189
80$11,335,613$3,234,495$2,128,925$10,443,239
81$12,430,619$3,331,759$2,139,017$11,407,130
82$13,635,386$3,431,859$2,147,518$12,466,653
83$14,961,050$3,534,875$2,154,315$13,631,496
84$16,419,881$3,640,887$2,159,288$14,912,332
85$18,025,395$3,749,977$2,162,310$16,320,923
86$19,792,488$3,862,229$2,163,250$17,870,227
87$21,737,572$3,977,729$2,161,970$19,574,525
88$23,878,732$4,096,565$2,158,323$21,449,550
89$26,235,894$4,218,828$2,152,158$23,512,639
90$28,831,015$4,344,610$2,143,315$25,782,898
91$31,688,288$4,474,006$2,131,626$28,281,377
92$34,834,374$4,607,112$2,116,916$31,031,272
93$38,298,647$4,744,028$2,099,000$34,058,145
94$42,113,478$4,884,854$2,077,685$37,390,161
95$46,314,535$5,029,695$2,052,770$41,058,359
96$50,941,123$5,178,655$2,024,043$45,096,940
97$56,036,552$5,331,843$1,991,283$49,543,591
98$61,648,547$5,489,370$1,954,257$54,439,844
99$67,829,697$5,651,348$1,912,724$59,831,462
100$74,637,955$5,817,892$1,866,428$65,768,876