Can I retire at age 59 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$143,688$142,408$141,159$139,940$138,750$134,904
2 years$71,132$69,808$68,524$67,279$66,071$62,225
3 years$46,951$45,620$44,339$43,106$41,918$38,192
4 years$34,862$33,536$32,268$31,056$29,897$26,319
5 years$27,611$26,292$25,041$23,854$22,727$19,309
6 years$22,778$21,470$20,237$19,076$17,983$14,727
7 years$19,328$18,030$16,817$15,683$14,625$11,531
8 years$16,741$15,455$14,262$13,156$12,133$9,199
9 years$14,730$13,457$12,284$11,206$10,218$7,441
10 years$13,122$11,861$10,709$9,660$8,706$6,084
11 years$11,808$10,559$9,428$8,407$7,487$5,015
12 years$10,713$9,478$8,367$7,374$6,488$4,161
13 years$9,788$8,565$7,476$6,510$5,658$3,471
14 years$8,995$7,785$6,717$5,779$4,960$2,908
15 years$8,309$7,112$6,065$5,154$4,367$2,444
16 years$7,709$6,525$5,498$4,615$3,860$2,061
17 years$7,180$6,009$5,003$4,146$3,422$1,742
18 years$6,711$5,553$4,567$3,737$3,043$1,475
19 years$6,291$5,146$4,181$3,376$2,712$1,251
20 years$5,914$4,782$3,837$3,058$2,423$1,063
21 years$5,573$4,455$3,530$2,775$2,168$904
22 years$5,263$4,158$3,253$2,523$1,943$769
23 years$4,981$3,889$3,004$2,298$1,744$655
24 years$4,723$3,644$2,778$2,096$1,568$559
25 years$4,486$3,419$2,573$1,914$1,411$477
26 years$4,267$3,214$2,386$1,750$1,271$407
27 years$4,065$3,025$2,216$1,602$1,146$348
28 years$3,878$2,850$2,060$1,468$1,034$297
29 years$3,704$2,689$1,917$1,346$934$254
30 years$3,542$2,539$1,786$1,235$843$217
31 years$3,391$2,400$1,665$1,135$763$185
32 years$3,249$2,271$1,553$1,043$690$159
33 years$3,116$2,151$1,450$959$624$136
34 years$2,991$2,039$1,355$882$565$116
35 years$2,874$1,934$1,267$812$512$99
36 years$2,764$1,835$1,185$748$464$85
37 years$2,659$1,743$1,109$689$420$73
38 years$2,561$1,656$1,039$635$381$62
39 years$2,467$1,575$973$586$346$53
40 years$2,379$1,499$912$540$313$46
41 years$2,295$1,427$855$498$284$39
42 years$2,215$1,359$802$460$258$33
43 years$2,139$1,294$753$425$234$29
44 years$2,067$1,234$707$392$213$24
45 years$1,999$1,177$664$362$193$21
46 years$1,933$1,122$623$334$175$18
47 years$1,871$1,071$585$309$159$15
48 years$1,811$1,023$550$286$145$13
49 years$1,754$977$517$264$131$11
50 years$1,699$933$486$244$119$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,740,000, adding $4,522 every year, while hoping to spend $23,328 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: 42/40/18 Blend
58$1,740,000$1,740,000$1,740,000$1,740,000
59$1,922,144$1,829,924$1,802,954$1,992,566
60$2,093,382$1,894,770$1,838,533$2,107,668
61$2,281,305$1,962,011$1,874,521$2,229,609
62$2,487,589$2,031,740$1,910,908$2,361,168
63$2,714,082$2,104,055$1,947,682$2,503,239
64$2,962,819$2,179,054$1,984,831$2,656,804
65$3,236,042$2,256,844$2,022,338$2,822,941
66$3,536,221$2,337,532$2,060,189$3,002,837
67$3,866,077$2,421,232$2,098,367$3,197,794
68$4,228,606$2,508,062$2,136,851$3,409,247
69$4,627,111$2,598,144$2,175,624$3,638,771
70$5,065,231$2,691,607$2,214,661$3,888,100
71$5,546,972$2,788,584$2,253,940$4,159,141
72$6,076,751$2,889,212$2,293,435$4,453,990
73$6,659,433$2,993,637$2,333,119$4,774,956
74$7,300,379$3,102,009$2,372,962$5,124,576
75$8,005,494$3,214,484$2,412,932$5,505,645
76$8,781,286$3,331,225$2,452,997$5,921,235
77$9,634,925$3,452,403$2,493,120$6,374,731
78$10,574,310$3,578,193$2,533,262$6,869,856
79$11,608,146$3,708,781$2,573,383$7,410,709
80$12,746,024$3,844,358$2,613,438$8,001,801
81$13,998,512$3,985,125$2,653,381$8,648,098
82$15,377,253$4,131,290$2,693,163$9,355,068
83$16,895,080$4,283,070$2,732,731$10,128,733
84$18,566,129$4,440,691$2,772,028$10,975,719
85$20,405,979$4,604,390$2,810,996$11,903,325
86$22,431,797$4,774,413$2,849,572$12,919,589
87$24,662,496$4,951,015$2,887,689$14,033,359
88$27,118,921$5,134,465$2,925,277$15,254,382
89$29,824,038$5,325,041$2,962,261$16,593,392
90$32,803,154$5,523,033$2,998,561$18,062,208
91$36,084,158$5,728,744$3,034,095$19,673,850
92$39,697,780$5,942,490$3,068,775$21,442,658
93$43,677,882$6,164,600$3,102,507$23,384,426
94$48,061,778$6,395,418$3,135,194$25,516,549
95$52,890,588$6,635,301$3,166,731$27,858,191
96$58,209,621$6,884,624$3,197,010$30,430,460
97$64,068,808$7,143,776$3,225,915$33,256,606
98$70,523,168$7,413,163$3,253,325$36,362,245
99$77,633,333$7,693,210$3,279,113$39,775,592
100$85,466,113$7,984,357$3,303,144$43,527,732