Can I retire at age 59 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$163,507$162,050$160,629$159,242$157,888$152,529
2 years$80,944$79,436$77,975$76,559$75,185$69,839
3 years$53,427$51,913$50,455$49,052$47,700$42,536
4 years$39,671$38,161$36,718$35,339$34,020$29,077
5 years$31,419$29,919$28,495$27,144$25,862$21,153
6 years$25,920$24,431$23,028$21,707$20,463$15,992
7 years$21,994$20,517$19,137$17,847$16,642$12,408
8 years$19,050$17,587$16,229$14,971$13,806$9,806
9 years$16,762$15,313$13,978$12,752$11,627$7,856
10 years$14,932$13,497$12,187$10,992$9,907$6,358
11 years$13,437$12,016$10,729$9,567$8,520$5,188
12 years$12,191$10,785$9,522$8,391$7,383$4,259
13 years$11,138$9,746$8,507$7,408$6,438$3,514
14 years$10,236$8,859$7,644$6,576$5,644$2,911
15 years$9,455$8,093$6,901$5,865$4,969$2,420
16 years$8,772$7,425$6,257$5,251$4,392$2,017
17 years$8,170$6,838$5,693$4,718$3,894$1,685
18 years$7,636$6,319$5,197$4,252$3,463$1,410
19 years$7,159$5,856$4,758$3,842$3,086$1,181
20 years$6,729$5,442$4,367$3,480$2,757$991
21 years$6,342$5,069$4,016$3,158$2,467$833
22 years$5,989$4,732$3,702$2,871$2,211$700
23 years$5,668$4,425$3,418$2,615$1,985$589
24 years$5,375$4,146$3,161$2,385$1,784$496
25 years$5,105$3,891$2,928$2,178$1,605$418
26 years$4,856$3,657$2,715$1,992$1,446$352
27 years$4,626$3,442$2,521$1,823$1,304$297
28 years$4,413$3,243$2,344$1,670$1,176$250
29 years$4,215$3,059$2,181$1,532$1,062$211
30 years$4,030$2,889$2,032$1,406$960$178
31 years$3,858$2,731$1,894$1,291$868$150
32 years$3,697$2,584$1,767$1,186$785$127
33 years$3,546$2,448$1,650$1,091$710$107
34 years$3,404$2,320$1,542$1,004$643$90
35 years$3,270$2,200$1,441$924$583$76
36 years$3,145$2,088$1,348$851$528$64
37 years$3,026$1,983$1,262$784$478$54
38 years$2,914$1,885$1,182$723$434$46
39 years$2,808$1,792$1,107$666$393$39
40 years$2,707$1,705$1,038$615$357$33
41 years$2,612$1,623$973$567$324$28
42 years$2,521$1,546$913$523$294$23
43 years$2,435$1,473$857$483$267$20
44 years$2,353$1,404$804$446$242$17
45 years$2,274$1,339$755$412$220$14
46 years$2,200$1,277$709$381$199$12
47 years$2,129$1,219$666$352$181$10
48 years$2,060$1,164$626$325$164$8
49 years$1,995$1,111$588$300$149$7
50 years$1,933$1,061$553$278$136$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,980,000, adding $2,307 every year, while hoping to spend $46,700 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: 57/32/11 Blend
58$1,980,000$1,980,000$1,980,000$1,980,000
59$2,184,340$2,079,400$2,048,710$2,302,807
60$2,357,454$2,131,602$2,067,653$2,435,259
61$2,546,661$2,184,797$2,085,666$2,574,133
62$2,753,552$2,238,984$2,102,667$2,724,337
63$2,979,881$2,294,160$2,118,573$2,886,963
64$3,227,577$2,350,323$2,133,294$3,063,210
65$3,498,767$2,407,466$2,146,736$3,254,402
66$3,795,790$2,465,580$2,158,801$3,461,996
67$4,121,225$2,524,658$2,169,385$3,687,595
68$4,477,909$2,584,685$2,178,378$3,932,965
69$4,868,968$2,645,648$2,185,667$4,200,054
70$5,297,847$2,707,529$2,191,131$4,491,003
71$5,768,337$2,770,307$2,194,644$4,808,175
72$6,284,616$2,833,960$2,196,072$5,154,170
73$6,851,284$2,898,462$2,195,278$5,531,855
74$7,473,410$2,963,781$2,192,115$5,944,385
75$8,156,576$3,029,885$2,186,429$6,395,240
76$8,906,933$3,096,736$2,178,061$6,888,252
77$9,731,256$3,164,291$2,166,841$7,427,642
78$10,637,008$3,232,505$2,152,594$8,018,065
79$11,632,411$3,301,326$2,135,134$8,664,647
80$12,726,524$3,370,698$2,114,268$9,373,036
81$13,929,325$3,440,559$2,089,793$10,149,458
82$15,251,811$3,510,840$2,061,495$11,000,772
83$16,706,093$3,581,469$2,029,153$11,934,537
84$18,305,518$3,652,365$1,992,533$12,959,082
85$20,064,790$3,723,439$1,951,392$14,083,587
86$22,000,109$3,794,598$1,905,473$15,318,168
87$24,129,325$3,865,738$1,854,511$16,673,972
88$26,472,104$3,936,748$1,798,226$18,163,284
89$29,050,117$4,007,507$1,736,325$19,799,641
90$31,887,240$4,077,886$1,668,503$21,597,964
91$35,009,781$4,147,745$1,594,440$23,574,695
92$38,446,728$4,216,933$1,513,803$25,747,954
93$42,230,020$4,285,289$1,426,242$28,137,710
94$46,394,853$4,352,638$1,331,391$30,765,970
95$50,980,006$4,418,795$1,228,870$33,656,989
96$56,028,210$4,483,560$1,118,281$36,837,495
97$61,586,550$4,546,717$999,206$40,336,945
98$67,706,910$4,608,038$871,212$44,187,803
99$74,446,461$4,667,278$733,843$48,425,848
100$81,868,199$4,724,174$586,627$53,090,508