Can I retire at age 59 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$109,004$108,033$107,086$106,161$105,259$103,430
2 years$53,963$52,958$51,984$51,039$50,123$48,287
3 years$35,618$34,608$33,637$32,701$31,800$30,013
4 years$26,447$25,441$24,479$23,559$22,680$20,956
5 years$20,946$19,946$18,997$18,096$17,241$15,585
6 years$17,280$16,287$15,352$14,471$13,642$12,057
7 years$14,662$13,678$12,758$11,898$11,095$9,580
8 years$12,700$11,725$10,820$9,981$9,204$7,759
9 years$11,175$10,208$9,319$8,501$7,751$6,376
10 years$9,955$8,998$8,124$7,328$6,604$5,297
11 years$8,958$8,011$7,153$6,378$5,680$4,439
12 years$8,127$7,190$6,348$5,594$4,922$3,746
13 years$7,425$6,498$5,671$4,939$4,292$3,180
14 years$6,824$5,906$5,096$4,384$3,763$2,711
15 years$6,303$5,395$4,601$3,910$3,313$2,321
16 years$5,848$4,950$4,171$3,501$2,928$1,993
17 years$5,447$4,559$3,796$3,146$2,596$1,716
18 years$5,091$4,213$3,465$2,835$2,308$1,481
19 years$4,772$3,904$3,172$2,561$2,057$1,281
20 years$4,486$3,628$2,911$2,320$1,838$1,110
21 years$4,228$3,379$2,678$2,105$1,645$963
22 years$3,993$3,154$2,468$1,914$1,474$836
23 years$3,779$2,950$2,279$1,743$1,323$727
24 years$3,583$2,764$2,107$1,590$1,189$633
25 years$3,403$2,594$1,952$1,452$1,070$551
26 years$3,237$2,438$1,810$1,328$964$480
27 years$3,084$2,294$1,681$1,215$869$419
28 years$2,942$2,162$1,563$1,114$784$366
29 years$2,810$2,040$1,454$1,021$708$319
30 years$2,687$1,926$1,355$937$640$279
31 years$2,572$1,821$1,263$861$579$243
32 years$2,465$1,723$1,178$791$523$213
33 years$2,364$1,632$1,100$727$474$186
34 years$2,269$1,546$1,028$669$429$163
35 years$2,180$1,467$961$616$388$142
36 years$2,096$1,392$899$567$352$124
37 years$2,017$1,322$841$523$319$109
38 years$1,943$1,257$788$482$289$95
39 years$1,872$1,195$738$444$262$83
40 years$1,805$1,137$692$410$238$73
41 years$1,741$1,082$649$378$216$64
42 years$1,681$1,031$609$349$196$56
43 years$1,623$982$571$322$178$49
44 years$1,568$936$536$297$161$43
45 years$1,516$893$503$275$146$37
46 years$1,466$852$473$254$133$33
47 years$1,419$813$444$234$121$29
48 years$1,374$776$417$217$110$25
49 years$1,330$741$392$200$100$22
50 years$1,289$708$369$185$90$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,320,000, adding $5,331 every year, while hoping to spend $25,222 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: 50/31/19 Blend
58$1,320,000$1,320,000$1,320,000$1,320,000
59$1,460,139$1,390,179$1,369,719$1,525,175
60$1,582,237$1,431,462$1,388,768$1,611,962
61$1,715,944$1,473,922$1,407,611$1,703,204
62$1,862,417$1,517,591$1,426,213$1,801,827
63$2,022,931$1,562,500$1,444,538$1,908,538
64$2,198,889$1,608,682$1,462,549$2,024,113
65$2,391,838$1,656,170$1,480,207$2,149,407
66$2,603,481$1,704,998$1,497,470$2,285,362
67$2,835,693$1,755,200$1,514,292$2,433,014
68$3,090,541$1,806,811$1,530,628$2,593,502
69$3,370,300$1,859,869$1,546,427$2,768,084
70$3,677,476$1,914,408$1,561,639$2,958,142
71$4,014,832$1,970,467$1,576,207$3,165,199
72$4,385,409$2,028,085$1,590,074$3,390,933
73$4,792,559$2,087,298$1,603,179$3,637,191
74$5,239,972$2,148,149$1,615,458$3,906,006
75$5,731,717$2,210,676$1,626,844$4,199,621
76$6,272,274$2,274,920$1,637,265$4,520,504
77$6,866,579$2,340,925$1,646,646$4,871,373
78$7,520,071$2,408,731$1,654,910$5,255,223
79$8,238,742$2,478,382$1,661,973$5,675,355
80$9,029,193$2,549,923$1,667,749$6,135,403
81$9,898,699$2,623,397$1,672,146$6,639,371
82$10,855,273$2,698,850$1,675,070$7,191,671
83$11,907,745$2,776,328$1,676,418$7,797,165
84$13,065,843$2,855,877$1,676,087$8,461,206
85$14,340,289$2,937,544$1,673,966$9,189,695
86$15,742,892$3,021,378$1,669,938$9,989,134
87$17,286,668$3,107,426$1,663,881$10,866,684
88$18,985,956$3,195,737$1,655,669$11,830,239
89$20,856,556$3,286,362$1,645,167$12,888,494
90$22,915,880$3,379,349$1,632,235$14,051,031
91$25,183,112$3,474,748$1,616,727$15,328,409
92$27,679,390$3,572,612$1,598,488$16,732,262
93$30,428,008$3,672,990$1,577,358$18,275,409
94$33,454,633$3,775,935$1,553,167$19,971,976
95$36,787,547$3,881,497$1,525,740$21,837,529
96$40,457,915$3,989,728$1,494,890$23,889,222
97$44,500,079$4,100,682$1,460,426$26,145,955
98$48,951,881$4,214,409$1,422,143$28,628,556
99$53,855,019$4,330,961$1,379,832$31,359,978
100$59,255,444$4,450,391$1,333,269$34,365,512