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%17.6%
1 years$162,681$161,232$159,818$158,438$157,091$152,245
2 years$80,535$79,035$77,582$76,172$74,805$69,965
3 years$53,157$51,650$50,200$48,804$47,459$42,778
4 years$39,470$37,968$36,533$35,161$33,848$29,361
5 years$31,260$29,768$28,351$27,007$25,731$21,449
6 years$25,789$24,308$22,912$21,598$20,360$16,288
7 years$21,883$20,413$19,040$17,757$16,558$12,695
8 years$18,954$17,498$16,147$14,896$13,737$10,080
9 years$16,677$15,235$13,908$12,688$11,568$8,115
10 years$14,857$13,429$12,125$10,937$9,857$6,601
11 years$13,369$11,955$10,675$9,518$8,477$5,414
12 years$12,129$10,730$9,474$8,349$7,346$4,468
13 years$11,082$9,697$8,464$7,371$6,406$3,707
14 years$10,184$8,814$7,605$6,543$5,615$3,088
15 years$9,407$8,052$6,866$5,835$4,944$2,582
16 years$8,728$7,388$6,225$5,225$4,370$2,164
17 years$8,129$6,804$5,665$4,694$3,875$1,818
18 years$7,598$6,287$5,171$4,231$3,445$1,531
19 years$7,122$5,827$4,734$3,823$3,071$1,290
20 years$6,695$5,414$4,345$3,462$2,743$1,089
21 years$6,310$5,043$3,996$3,142$2,454$921
22 years$5,959$4,708$3,683$2,857$2,200$779
23 years$5,640$4,403$3,401$2,602$1,975$660
24 years$5,347$4,125$3,145$2,373$1,775$559
25 years$5,079$3,871$2,913$2,167$1,597$474
26 years$4,831$3,639$2,702$1,982$1,439$402
27 years$4,603$3,424$2,509$1,814$1,297$341
28 years$4,391$3,227$2,332$1,662$1,170$289
29 years$4,194$3,044$2,170$1,524$1,057$246
30 years$4,010$2,875$2,022$1,399$955$209
31 years$3,839$2,718$1,885$1,285$863$177
32 years$3,678$2,571$1,758$1,180$781$150
33 years$3,528$2,435$1,642$1,086$707$128
34 years$3,387$2,308$1,534$999$640$109
35 years$3,254$2,189$1,434$919$580$92
36 years$3,129$2,078$1,342$847$525$78
37 years$3,011$1,973$1,256$780$476$67
38 years$2,899$1,875$1,176$719$432$57
39 years$2,793$1,783$1,102$663$391$48
40 years$2,693$1,697$1,033$612$355$41
41 years$2,598$1,615$968$564$322$35
42 years$2,508$1,538$908$521$292$30
43 years$2,422$1,466$852$481$265$25
44 years$2,341$1,397$800$444$241$21
45 years$2,263$1,332$751$410$219$18
46 years$2,189$1,271$706$379$198$15
47 years$2,118$1,213$663$350$180$13
48 years$2,050$1,158$623$323$164$11
49 years$1,985$1,106$586$299$149$10
50 years$1,923$1,056$550$276$135$8

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 $4,128 every year, while hoping to spend $41,799 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: 56/14/30 Blend
58$1,970,000$1,970,000$1,970,000$1,970,000
59$2,175,198$2,070,788$2,040,253$2,278,739
60$2,352,594$2,127,783$2,064,128$2,407,594
61$2,546,684$2,186,169$2,087,401$2,543,266
62$2,759,126$2,245,972$2,110,009$2,690,267
63$2,991,747$2,307,214$2,131,884$2,849,708
64$3,246,557$2,369,920$2,152,955$3,022,813
65$3,525,772$2,434,112$2,173,145$3,210,926
66$3,831,831$2,499,814$2,192,375$3,415,534
67$4,167,421$2,567,047$2,210,563$3,638,271
68$4,535,500$2,635,835$2,227,619$3,880,939
69$4,939,327$2,706,198$2,243,451$4,145,524
70$5,382,494$2,778,156$2,257,961$4,434,215
71$5,868,952$2,851,730$2,271,047$4,749,422
72$6,403,060$2,926,939$2,282,601$5,093,804
73$6,989,613$3,003,800$2,292,510$5,470,288
74$7,633,898$3,082,331$2,300,654$5,882,103
75$8,341,738$3,162,548$2,306,908$6,332,804
76$9,119,547$3,244,464$2,311,140$6,826,313
77$9,974,391$3,328,093$2,313,214$7,366,950
78$10,914,055$3,413,446$2,312,983$7,959,475
79$11,947,118$3,500,534$2,310,297$8,609,136
80$13,083,027$3,589,363$2,304,995$9,321,717
81$14,332,194$3,679,940$2,296,910$10,103,591
82$15,706,089$3,772,268$2,285,868$10,961,784
83$17,217,349$3,866,349$2,271,684$11,904,037
84$18,879,899$3,962,181$2,254,166$12,938,884
85$20,709,081$4,059,759$2,233,112$14,075,730
86$22,721,797$4,159,077$2,208,311$15,324,938
87$24,936,672$4,260,123$2,179,542$16,697,934
88$27,374,228$4,362,885$2,146,572$18,207,307
89$30,057,076$4,467,343$2,109,159$19,866,934
90$33,010,131$4,573,476$2,067,049$21,692,109
91$36,260,845$4,681,257$2,019,976$23,699,687
92$39,839,468$4,790,656$1,967,662$25,908,244
93$43,779,332$4,901,636$1,909,816$28,338,256
94$48,117,162$5,014,155$1,846,134$31,012,287
95$52,893,431$5,128,166$1,776,297$33,955,206
96$58,152,730$5,243,616$1,699,973$37,194,422
97$63,944,200$5,360,444$1,616,813$40,760,144
98$70,321,986$5,478,584$1,526,454$44,685,665
99$77,345,753$5,597,959$1,428,515$49,007,675
100$85,081,249$5,718,489$1,322,600$53,766,614