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

Use the below retirement simulation to view the chances of a successful retirement.
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%18.1%
1 years$163,507$162,050$160,629$159,242$157,888$152,712
2 years$80,944$79,436$77,975$76,559$75,185$70,019
3 years$53,427$51,913$50,455$49,052$47,700$42,707
4 years$39,671$38,161$36,718$35,339$34,020$29,238
5 years$31,419$29,919$28,495$27,144$25,862$21,304
6 years$25,920$24,431$23,028$21,707$20,463$16,133
7 years$21,994$20,517$19,137$17,847$16,642$12,539
8 years$19,050$17,587$16,229$14,971$13,806$9,927
9 years$16,762$15,313$13,978$12,752$11,627$7,967
10 years$14,932$13,497$12,187$10,992$9,907$6,461
11 years$13,437$12,016$10,729$9,567$8,520$5,281
12 years$12,191$10,785$9,522$8,391$7,383$4,345
13 years$11,138$9,746$8,507$7,408$6,438$3,592
14 years$10,236$8,859$7,644$6,576$5,644$2,982
15 years$9,455$8,093$6,901$5,865$4,969$2,484
16 years$8,772$7,425$6,257$5,251$4,392$2,075
17 years$8,170$6,838$5,693$4,718$3,894$1,737
18 years$7,636$6,319$5,197$4,252$3,463$1,457
19 years$7,159$5,856$4,758$3,842$3,086$1,224
20 years$6,729$5,442$4,367$3,480$2,757$1,029
21 years$6,342$5,069$4,016$3,158$2,467$866
22 years$5,989$4,732$3,702$2,871$2,211$730
23 years$5,668$4,425$3,418$2,615$1,985$616
24 years$5,375$4,146$3,161$2,385$1,784$520
25 years$5,105$3,891$2,928$2,178$1,605$439
26 years$4,856$3,657$2,715$1,992$1,446$371
27 years$4,626$3,442$2,521$1,823$1,304$313
28 years$4,413$3,243$2,344$1,670$1,176$265
29 years$4,215$3,059$2,181$1,532$1,062$224
30 years$4,030$2,889$2,032$1,406$960$189
31 years$3,858$2,731$1,894$1,291$868$160
32 years$3,697$2,584$1,767$1,186$785$135
33 years$3,546$2,448$1,650$1,091$710$115
34 years$3,404$2,320$1,542$1,004$643$97
35 years$3,270$2,200$1,441$924$583$82
36 years$3,145$2,088$1,348$851$528$69
37 years$3,026$1,983$1,262$784$478$59
38 years$2,914$1,885$1,182$723$434$50
39 years$2,808$1,792$1,107$666$393$42
40 years$2,707$1,705$1,038$615$357$36
41 years$2,612$1,623$973$567$324$30
42 years$2,521$1,546$913$523$294$26
43 years$2,435$1,473$857$483$267$22
44 years$2,353$1,404$804$446$242$18
45 years$2,274$1,339$755$412$220$16
46 years$2,200$1,277$709$381$199$13
47 years$2,129$1,219$666$352$181$11
48 years$2,060$1,164$626$325$164$9
49 years$1,995$1,111$588$300$149$8
50 years$1,933$1,061$553$278$136$7

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 $2,283 every year, while hoping to spend $34,356 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: 66/19/15 Blend
58$1,980,000$1,980,000$1,980,000$1,980,000
59$2,184,315$2,079,375$2,048,685$2,320,541
60$2,370,561$2,144,710$2,080,761$2,477,173
61$2,574,652$2,212,095$2,112,761$2,644,098
62$2,798,372$2,281,593$2,144,645$2,825,706
63$3,043,688$2,353,273$2,176,371$3,023,433
64$3,312,761$2,427,200$2,207,897$3,238,861
65$3,607,977$2,503,447$2,239,176$3,473,729
66$3,931,959$2,582,085$2,270,157$3,729,955
67$4,287,601$2,663,190$2,300,790$4,009,647
68$4,678,088$2,746,837$2,331,018$4,315,131
69$5,106,929$2,833,108$2,360,783$4,648,965
70$5,577,990$2,922,084$2,390,023$5,013,968
71$6,095,528$3,013,850$2,418,672$5,413,243
72$6,664,236$3,108,492$2,446,661$5,850,210
73$7,289,281$3,206,102$2,473,917$6,328,634
74$7,976,358$3,306,771$2,500,364$6,852,664
75$8,731,739$3,410,595$2,525,918$7,426,867
76$9,562,335$3,517,673$2,550,495$8,056,278
77$10,475,761$3,628,107$2,574,005$8,746,440
78$11,480,405$3,742,000$2,596,350$9,503,462
79$12,585,511$3,859,463$2,617,433$10,334,071
80$13,801,261$3,980,605$2,637,145$11,245,682
81$15,138,878$4,105,543$2,655,377$12,246,459
82$16,610,722$4,234,393$2,672,011$13,345,401
83$18,230,417$4,367,279$2,686,925$14,552,421
84$20,012,970$4,504,327$2,699,988$15,878,440
85$21,974,921$4,645,666$2,711,065$17,335,491
86$24,134,489$4,791,431$2,720,012$18,936,832
87$26,511,755$4,941,759$2,726,680$20,697,071
88$29,128,842$5,096,793$2,730,912$22,632,304
89$32,010,128$5,256,679$2,732,541$24,760,264
90$35,182,474$5,421,570$2,731,394$27,100,493
91$38,675,480$5,591,620$2,727,290$29,674,521
92$42,521,761$5,766,991$2,720,036$32,506,072
93$46,757,256$5,947,850$2,709,432$35,621,289
94$51,421,567$6,134,365$2,695,270$39,048,976
95$56,558,332$6,326,715$2,677,327$42,820,874
96$62,215,639$6,525,081$2,655,374$46,971,958
97$68,446,474$6,729,649$2,629,169$51,540,766
98$75,309,226$6,940,614$2,598,458$56,569,766
99$82,868,238$7,158,175$2,562,977$62,105,753
100$91,194,409$7,382,536$2,522,447$68,200,293