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

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$135,430$134,223$133,046$131,898$130,776$129,410
2 years$67,044$65,796$64,586$63,412$62,274$60,899
3 years$44,252$42,998$41,791$40,629$39,509$38,167
4 years$32,858$31,608$30,413$29,271$28,178$26,880
5 years$26,024$24,781$23,602$22,483$21,421$20,169
6 years$21,469$20,236$19,074$17,980$16,950$15,747
7 years$18,217$16,994$15,850$14,782$13,784$12,631
8 years$15,779$14,567$13,442$12,400$11,436$10,331
9 years$13,884$12,683$11,578$10,562$9,630$8,575
10 years$12,368$11,180$10,094$9,105$8,206$7,198
11 years$11,129$9,953$8,887$7,924$7,057$6,097
12 years$10,098$8,933$7,887$6,950$6,116$5,202
13 years$9,225$8,073$7,046$6,136$5,333$4,464
14 years$8,478$7,338$6,331$5,447$4,675$3,850
15 years$7,831$6,703$5,716$4,858$4,116$3,334
16 years$7,266$6,150$5,182$4,350$3,638$2,897
17 years$6,767$5,664$4,716$3,908$3,225$2,525
18 years$6,325$5,234$4,305$3,522$2,868$2,206
19 years$5,929$4,851$3,941$3,182$2,556$1,932
20 years$5,574$4,507$3,617$2,882$2,283$1,695
21 years$5,253$4,199$3,327$2,616$2,043$1,489
22 years$4,961$3,919$3,066$2,378$1,832$1,310
23 years$4,695$3,666$2,831$2,166$1,644$1,154
24 years$4,452$3,434$2,618$1,976$1,478$1,018
25 years$4,228$3,223$2,425$1,804$1,330$899
26 years$4,022$3,029$2,249$1,650$1,198$794
27 years$3,832$2,851$2,088$1,510$1,080$702
28 years$3,655$2,686$1,941$1,383$974$621
29 years$3,491$2,534$1,807$1,269$880$549
30 years$3,338$2,393$1,683$1,164$795$487
31 years$3,196$2,262$1,569$1,069$719$431
32 years$3,062$2,141$1,464$983$650$382
33 years$2,937$2,027$1,367$904$588$339
34 years$2,819$1,921$1,277$831$533$300
35 years$2,709$1,822$1,194$765$483$266
36 years$2,605$1,730$1,117$705$437$236
37 years$2,506$1,643$1,045$650$396$210
38 years$2,413$1,561$979$599$359$186
39 years$2,325$1,485$917$552$326$165
40 years$2,242$1,412$860$509$295$147
41 years$2,163$1,345$806$470$268$130
42 years$2,088$1,281$756$434$243$116
43 years$2,017$1,220$710$400$221$103
44 years$1,949$1,163$666$370$200$91
45 years$1,884$1,109$625$341$182$81
46 years$1,822$1,058$587$315$165$72
47 years$1,763$1,010$552$291$150$64
48 years$1,707$964$519$269$136$57
49 years$1,653$920$487$249$124$51
50 years$1,601$879$458$230$112$45

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 $4,778 every year, while hoping to spend $58,951 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: 61/28/11 Blend
58$1,640,000$1,640,000$1,640,000$1,640,000
59$1,812,209$1,725,289$1,699,869$1,917,812
60$1,934,330$1,747,104$1,694,091$2,011,042
61$2,066,933$1,768,013$1,686,144$2,105,575
62$2,211,023$1,787,909$1,675,892$2,207,276
63$2,367,708$1,806,677$1,663,195$2,316,839
64$2,538,206$1,824,196$1,647,904$2,435,032
65$2,723,858$1,840,337$1,629,864$2,562,699
66$2,926,140$1,854,962$1,608,913$2,700,774
67$3,146,675$1,867,923$1,584,880$2,850,286
68$3,387,249$1,879,065$1,557,587$3,012,370
69$3,649,830$1,888,220$1,526,847$3,188,278
70$3,936,581$1,895,212$1,492,466$3,379,392
71$4,249,888$1,899,853$1,454,239$3,587,234
72$4,592,372$1,901,941$1,411,952$3,813,487
73$4,966,924$1,901,266$1,365,381$4,060,003
74$5,376,723$1,897,600$1,314,294$4,328,829
75$5,825,271$1,890,705$1,258,445$4,622,220
76$6,316,424$1,880,326$1,197,579$4,942,666
77$6,854,431$1,866,193$1,131,429$5,292,912
78$7,443,966$1,848,020$1,059,716$5,675,985
79$8,090,181$1,825,504$982,147$6,095,227
80$8,798,749$1,798,322$898,418$6,554,321
81$9,575,916$1,766,135$808,210$7,057,332
82$10,428,565$1,728,581$711,190$7,608,742
83$11,364,275$1,685,278$607,012$8,213,493
84$12,391,396$1,635,821$495,311$8,877,040
85$13,519,123$1,579,781$375,709$9,605,395
86$14,757,589$1,516,706$247,810$10,405,192
87$16,117,953$1,446,114$111,202$11,283,743
88$17,612,509$1,367,499$0$12,249,117
89$19,254,802$1,280,323$0$13,314,268
90$21,059,751$1,184,019$0$14,499,139
91$23,043,796$1,077,986$0$15,801,539
92$25,225,046$961,590$0$17,233,455
93$27,623,453$834,160$0$18,808,102
94$30,260,999$694,988$0$20,540,048
95$33,161,903$543,325$0$22,445,354
96$36,352,850$378,380$0$24,541,726
97$39,863,239$199,319$0$26,848,680
98$43,725,463$5,259$0$29,387,733
99$47,975,213$0$0$32,182,603
100$52,651,815$0$0$35,322,517