Can I retire at age 59 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$160,203$158,776$157,384$156,025$154,698$150,228
2 years$79,309$77,832$76,400$75,012$73,666$69,198
3 years$52,347$50,864$49,436$48,061$46,737$42,410
4 years$38,869$37,390$35,977$34,625$33,333$29,182
5 years$30,784$29,314$27,919$26,596$25,339$21,375
6 years$25,396$23,937$22,563$21,269$20,050$16,276
7 years$21,549$20,103$18,750$17,486$16,306$12,722
8 years$18,665$17,232$15,901$14,669$13,527$10,132
9 years$16,423$15,003$13,696$12,494$11,392$8,181
10 years$14,631$13,225$11,940$10,770$9,707$6,676
11 years$13,165$11,773$10,512$9,373$8,348$5,493
12 years$11,945$10,567$9,329$8,222$7,234$4,548
13 years$10,913$9,549$8,335$7,259$6,308$3,786
14 years$10,029$8,680$7,489$6,443$5,530$3,165
15 years$9,264$7,929$6,762$5,746$4,869$2,655
16 years$8,595$7,275$6,130$5,145$4,303$2,234
17 years$8,005$6,700$5,578$4,623$3,816$1,884
18 years$7,482$6,191$5,092$4,166$3,393$1,592
19 years$7,014$5,738$4,662$3,765$3,024$1,347
20 years$6,593$5,332$4,278$3,409$2,701$1,142
21 years$6,213$4,967$3,935$3,094$2,417$969
22 years$5,868$4,636$3,627$2,813$2,167$823
23 years$5,554$4,336$3,349$2,562$1,945$699
24 years$5,266$4,063$3,097$2,337$1,748$595
25 years$5,002$3,813$2,869$2,134$1,573$506
26 years$4,758$3,583$2,660$1,951$1,417$431
27 years$4,533$3,372$2,470$1,786$1,277$367
28 years$4,324$3,178$2,297$1,637$1,153$313
29 years$4,130$2,998$2,137$1,501$1,041$267
30 years$3,949$2,831$1,991$1,377$940$227
31 years$3,780$2,676$1,856$1,265$850$194
32 years$3,622$2,532$1,732$1,163$769$165
33 years$3,474$2,398$1,617$1,069$696$141
34 years$3,335$2,273$1,511$984$630$120
35 years$3,204$2,156$1,412$905$571$103
36 years$3,081$2,046$1,321$834$517$88
37 years$2,965$1,943$1,237$768$469$75
38 years$2,855$1,847$1,158$708$425$64
39 years$2,751$1,756$1,085$653$385$55
40 years$2,652$1,671$1,017$602$350$47
41 years$2,559$1,591$954$556$317$40
42 years$2,470$1,515$894$513$288$34
43 years$2,385$1,443$839$473$261$29
44 years$2,305$1,376$788$437$237$25
45 years$2,228$1,312$740$404$215$21
46 years$2,155$1,251$695$373$195$18
47 years$2,086$1,194$653$345$177$15
48 years$2,019$1,140$613$318$161$13
49 years$1,955$1,089$577$294$146$11
50 years$1,894$1,040$542$272$133$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,940,000, adding $6,456 every year, while hoping to spend $28,871 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: 64/13/23 Blend
58$1,940,000$1,940,000$1,940,000$1,940,000
59$2,144,539$2,041,719$2,011,649$2,268,581
60$2,332,564$2,111,045$2,048,321$2,422,328
61$2,538,799$2,182,800$2,085,254$2,586,422
62$2,765,072$2,257,073$2,122,425$2,765,052
63$3,013,396$2,333,956$2,159,813$2,959,643
64$3,285,987$2,413,544$2,197,391$3,171,766
65$3,585,286$2,495,936$2,235,132$3,403,150
66$3,913,984$2,581,236$2,273,008$3,655,699
67$4,275,044$2,669,550$2,310,987$3,931,511
68$4,671,729$2,760,989$2,349,036$4,232,895
69$5,107,636$2,855,668$2,387,120$4,562,394
70$5,586,727$2,953,708$2,425,200$4,922,810
71$6,113,365$3,055,231$2,463,236$5,317,229
72$6,692,360$3,160,369$2,501,186$5,749,048
73$7,329,008$3,269,254$2,539,003$6,222,013
74$8,029,146$3,382,027$2,576,639$6,740,246
75$8,799,204$3,498,832$2,614,041$7,308,291
76$9,646,267$3,619,819$2,651,156$7,931,151
77$10,578,142$3,745,145$2,687,925$8,614,341
78$11,603,428$3,874,973$2,724,286$9,363,933
79$12,731,603$4,009,472$2,760,175$10,186,618
80$13,973,106$4,148,816$2,795,521$11,089,769
81$15,339,444$4,293,189$2,830,252$12,081,506
82$16,843,293$4,442,781$2,864,291$13,170,779
83$18,498,620$4,597,788$2,897,555$14,367,445
84$20,320,815$4,758,416$2,929,960$15,682,367
85$22,326,837$4,924,877$2,961,413$17,127,513
86$24,535,373$5,097,394$2,991,818$18,716,069
87$26,967,012$5,276,197$3,021,075$20,462,565
88$29,644,442$5,461,526$3,049,076$22,383,010
89$32,592,665$5,653,631$3,075,709$24,495,044
90$35,839,227$5,852,769$3,100,857$26,818,102
91$39,414,486$6,059,212$3,124,393$29,373,603
92$43,351,890$6,273,240$3,146,186$32,185,143
93$47,688,299$6,495,145$3,166,099$35,278,727
94$52,464,328$6,725,230$3,183,987$38,683,008
95$57,724,735$6,963,812$3,199,696$42,429,558
96$63,518,839$7,211,220$3,213,067$46,553,168
97$69,900,986$7,467,795$3,223,930$51,092,174
98$76,931,063$7,733,893$3,232,108$56,088,821
99$84,675,064$8,009,887$3,237,416$61,589,659
100$93,205,710$8,296,160$3,239,659$67,645,982