Can I retire at age 59 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$162,681$161,232$159,818$158,438$157,091$151,457
2 years$80,535$79,035$77,582$76,172$74,805$69,190
3 years$53,157$51,650$50,200$48,804$47,459$42,040
4 years$39,470$37,968$36,533$35,161$33,848$28,665
5 years$31,260$29,768$28,351$27,007$25,731$20,798
6 years$25,789$24,308$22,912$21,598$20,360$15,681
7 years$21,883$20,413$19,040$17,757$16,558$12,132
8 years$18,954$17,498$16,147$14,896$13,737$9,560
9 years$16,677$15,235$13,908$12,688$11,568$7,635
10 years$14,857$13,429$12,125$10,937$9,857$6,160
11 years$13,369$11,955$10,675$9,518$8,477$5,009
12 years$12,129$10,730$9,474$8,349$7,346$4,099
13 years$11,082$9,697$8,464$7,371$6,406$3,371
14 years$10,184$8,814$7,605$6,543$5,615$2,783
15 years$9,407$8,052$6,866$5,835$4,944$2,305
16 years$8,728$7,388$6,225$5,225$4,370$1,914
17 years$8,129$6,804$5,665$4,694$3,875$1,593
18 years$7,598$6,287$5,171$4,231$3,445$1,328
19 years$7,122$5,827$4,734$3,823$3,071$1,109
20 years$6,695$5,414$4,345$3,462$2,743$927
21 years$6,310$5,043$3,996$3,142$2,454$775
22 years$5,959$4,708$3,683$2,857$2,200$649
23 years$5,640$4,403$3,401$2,602$1,975$544
24 years$5,347$4,125$3,145$2,373$1,775$456
25 years$5,079$3,871$2,913$2,167$1,597$383
26 years$4,831$3,639$2,702$1,982$1,439$321
27 years$4,603$3,424$2,509$1,814$1,297$270
28 years$4,391$3,227$2,332$1,662$1,170$227
29 years$4,194$3,044$2,170$1,524$1,057$190
30 years$4,010$2,875$2,022$1,399$955$160
31 years$3,839$2,718$1,885$1,285$863$134
32 years$3,678$2,571$1,758$1,180$781$113
33 years$3,528$2,435$1,642$1,086$707$95
34 years$3,387$2,308$1,534$999$640$80
35 years$3,254$2,189$1,434$919$580$67
36 years$3,129$2,078$1,342$847$525$56
37 years$3,011$1,973$1,256$780$476$47
38 years$2,899$1,875$1,176$719$432$40
39 years$2,793$1,783$1,102$663$391$34
40 years$2,693$1,697$1,033$612$355$28
41 years$2,598$1,615$968$564$322$24
42 years$2,508$1,538$908$521$292$20
43 years$2,422$1,466$852$481$265$17
44 years$2,341$1,397$800$444$241$14
45 years$2,263$1,332$751$410$219$12
46 years$2,189$1,271$706$379$198$10
47 years$2,118$1,213$663$350$180$8
48 years$2,050$1,158$623$323$164$7
49 years$1,985$1,106$586$299$149$6
50 years$1,923$1,056$550$276$135$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,970,000, adding $3,980 every year, while hoping to spend $21,546 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: 26/45/29 Blend
58$1,970,000$1,970,000$1,970,000$1,970,000
59$2,175,045$2,070,635$2,040,100$2,211,847
60$2,373,975$2,149,172$2,085,519$2,321,105
61$2,592,474$2,230,834$2,131,737$2,436,153
62$2,832,514$2,315,753$2,178,758$2,559,152
63$3,096,271$2,404,065$2,226,587$2,690,790
64$3,386,138$2,495,912$2,275,225$2,831,823
65$3,704,753$2,591,441$2,324,674$2,983,076
66$4,055,025$2,690,808$2,374,938$3,145,456
67$4,440,154$2,794,175$2,426,015$3,319,956
68$4,863,669$2,901,709$2,477,906$3,507,668
69$5,329,458$3,013,586$2,530,610$3,709,788
70$5,841,802$3,129,992$2,584,124$3,927,628
71$6,405,420$3,251,116$2,638,447$4,162,632
72$7,025,512$3,377,159$2,693,574$4,416,381
73$7,707,805$3,508,332$2,749,500$4,690,614
74$8,458,612$3,644,850$2,806,219$4,987,242
75$9,284,886$3,786,944$2,863,723$5,308,361
76$10,194,291$3,934,850$2,922,004$5,656,277
77$11,195,268$4,088,817$2,981,050$6,033,524
78$12,297,122$4,249,105$3,040,852$6,442,886
79$13,510,102$4,415,986$3,101,395$6,887,424
80$14,845,505$4,589,742$3,162,664$7,370,504
81$16,315,776$4,770,669$3,224,643$7,895,827
82$17,934,630$4,959,076$3,287,313$8,467,463
83$19,717,179$5,155,287$3,350,654$9,089,887
84$21,680,073$5,359,638$3,414,643$9,768,024
85$23,841,663$5,572,483$3,479,256$10,507,290
86$26,222,167$5,794,189$3,544,465$11,313,644
87$28,843,864$6,025,141$3,610,242$12,193,642
88$31,731,307$6,265,741$3,676,553$13,154,499
89$34,911,548$6,516,410$3,743,365$14,204,155
90$38,414,398$6,777,586$3,810,640$15,351,347
91$42,272,708$7,049,730$3,878,338$16,605,692
92$46,522,677$7,333,319$3,946,415$17,977,775
93$51,204,195$7,628,856$4,014,825$19,479,249
94$56,361,217$7,936,865$4,083,516$21,122,940
95$62,042,184$8,257,894$4,152,436$22,922,969
96$68,300,470$8,592,514$4,221,527$24,894,883
97$75,194,897$8,941,326$4,290,727$27,055,799
98$82,790,280$9,304,955$4,359,969$29,424,565
99$91,158,045$9,684,054$4,429,185$32,021,933
100$100,376,902$10,079,309$4,498,299$34,870,756