Can I retire at age 59 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$117,262$116,218$115,199$114,204$113,233$110,316
2 years$58,051$56,969$55,922$54,906$53,920$51,002
3 years$38,316$37,230$36,185$35,179$34,209$31,379
4 years$28,451$27,368$26,333$25,344$24,398$21,679
5 years$22,533$21,457$20,436$19,467$18,547$15,946
6 years$18,589$17,521$16,515$15,568$14,676$12,195
7 years$15,773$14,714$13,724$12,799$11,935$9,576
8 years$13,662$12,613$11,639$10,737$9,902$7,662
9 years$12,021$10,982$10,025$9,145$8,339$6,217
10 years$10,709$9,680$8,740$7,883$7,105$5,098
11 years$9,636$8,617$7,694$6,861$6,110$4,216
12 years$8,743$7,735$6,829$6,018$5,295$3,510
13 years$7,988$6,990$6,101$5,313$4,617$2,938
14 years$7,341$6,354$5,482$4,716$4,048$2,469
15 years$6,781$5,804$4,949$4,206$3,564$2,083
16 years$6,291$5,325$4,487$3,766$3,150$1,763
17 years$5,860$4,904$4,083$3,384$2,793$1,495
18 years$5,476$4,532$3,727$3,049$2,483$1,271
19 years$5,134$4,200$3,412$2,755$2,213$1,082
20 years$4,826$3,903$3,132$2,496$1,977$922
21 years$4,548$3,635$2,880$2,265$1,769$788
22 years$4,295$3,393$2,655$2,059$1,586$673
23 years$4,065$3,174$2,451$1,875$1,424$576
24 years$3,855$2,974$2,267$1,711$1,280$493
25 years$3,661$2,791$2,100$1,562$1,151$422
26 years$3,483$2,623$1,947$1,428$1,037$362
27 years$3,318$2,468$1,808$1,307$935$310
28 years$3,165$2,326$1,681$1,198$844$266
29 years$3,023$2,194$1,564$1,098$762$228
30 years$2,891$2,072$1,457$1,008$688$196
31 years$2,767$1,959$1,358$926$622$168
32 years$2,651$1,854$1,267$851$563$144
33 years$2,543$1,755$1,183$782$509$124
34 years$2,441$1,664$1,106$720$461$107
35 years$2,346$1,578$1,034$663$418$92
36 years$2,255$1,498$967$610$379$79
37 years$2,170$1,422$905$562$343$68
38 years$2,090$1,352$848$518$311$58
39 years$2,014$1,285$794$478$282$50
40 years$1,941$1,223$744$441$256$43
41 years$1,873$1,164$698$407$232$37
42 years$1,808$1,109$655$375$211$32
43 years$1,746$1,056$614$347$191$27
44 years$1,687$1,007$577$320$173$23
45 years$1,631$960$541$295$158$20
46 years$1,578$916$509$273$143$17
47 years$1,527$874$478$252$130$15
48 years$1,478$835$449$233$118$13
49 years$1,431$797$422$215$107$11
50 years$1,386$761$397$199$97$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,420,000, adding $3,639 every year, while hoping to spend $55,835 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: 63/32/5 Blend
58$1,420,000$1,420,000$1,420,000$1,420,000
59$1,568,594$1,493,334$1,471,324$1,666,018
60$1,669,182$1,507,099$1,461,205$1,745,106
61$1,778,159$1,519,667$1,448,876$1,824,499
62$1,896,322$1,530,922$1,434,204$1,909,712
63$2,024,546$1,540,736$1,417,049$2,001,303
64$2,163,795$1,548,977$1,397,265$2,099,890
65$2,315,129$1,555,504$1,374,701$2,206,153
66$2,479,714$1,560,165$1,349,195$2,320,842
67$2,658,832$1,562,801$1,320,580$2,444,787
68$2,853,896$1,563,241$1,288,682$2,578,901
69$3,066,457$1,561,304$1,253,317$2,724,192
70$3,298,226$1,556,798$1,214,293$2,881,773
71$3,551,084$1,549,519$1,171,411$3,052,871
72$3,827,100$1,539,252$1,124,459$3,238,840
73$4,128,556$1,525,767$1,073,220$3,441,175
74$4,457,959$1,508,820$1,017,463$3,661,526
75$4,818,072$1,488,154$956,950$3,901,709
76$5,211,938$1,463,495$891,429$4,163,734
77$5,642,903$1,434,554$820,640$4,449,815
78$6,114,657$1,401,025$744,310$4,762,394
79$6,631,259$1,362,582$662,151$5,104,167
80$7,197,182$1,318,883$573,867$5,478,108
81$7,817,348$1,269,562$479,145$5,887,498
82$8,497,182$1,214,235$377,662$6,335,957
83$9,242,657$1,152,495$269,076$6,827,476
84$10,060,352$1,083,911$153,033$7,366,462
85$10,957,512$1,008,027$29,164$7,957,772
86$11,942,119$924,361$0$8,606,766
87$13,022,965$832,404$0$9,324,854
88$14,209,733$731,618$0$10,115,077
89$15,513,092$621,433$0$10,983,094
90$16,944,794$501,250$0$11,936,862
91$18,517,784$370,433$0$12,985,156
92$20,246,325$228,311$0$14,137,652
93$22,146,129$74,176$0$15,405,021
94$24,234,505$0$0$16,799,029
95$26,530,523$0$0$18,365,301
96$29,055,195$0$0$20,116,385
97$31,831,667$0$0$22,042,232
98$34,885,445$0$0$24,160,545
99$38,244,626$0$0$26,490,831
100$41,940,172$0$0$29,054,583