Can I retire at age 59 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$132,127$130,950$129,801$128,681$127,586$126,097
2 years$65,409$64,191$63,010$61,866$60,755$59,256
3 years$43,173$41,950$40,772$39,638$38,546$37,083
4 years$32,057$30,837$29,671$28,557$27,491$26,077
5 years$25,389$24,177$23,026$21,934$20,898$19,536
6 years$20,945$19,742$18,609$17,541$16,536$15,228
7 years$17,773$16,579$15,464$14,422$13,448$12,194
8 years$15,394$14,212$13,115$12,098$11,157$9,957
9 years$13,545$12,374$11,296$10,305$9,396$8,249
10 years$12,067$10,907$9,848$8,883$8,005$6,912
11 years$10,858$9,710$8,670$7,731$6,885$5,844
12 years$9,851$8,715$7,694$6,781$5,966$4,976
13 years$9,000$7,876$6,874$5,986$5,203$4,263
14 years$8,271$7,159$6,177$5,314$4,561$3,669
15 years$7,640$6,540$5,577$4,739$4,016$3,171
16 years$7,089$6,000$5,056$4,243$3,549$2,750
17 years$6,602$5,526$4,601$3,813$3,147$2,391
18 years$6,171$5,106$4,200$3,436$2,798$2,085
19 years$5,785$4,732$3,845$3,105$2,494$1,822
20 years$5,438$4,398$3,529$2,812$2,228$1,595
21 years$5,124$4,096$3,246$2,552$1,993$1,398
22 years$4,840$3,824$2,991$2,320$1,787$1,227
23 years$4,581$3,576$2,762$2,113$1,604$1,079
24 years$4,343$3,351$2,554$1,927$1,442$949
25 years$4,125$3,144$2,366$1,760$1,297$836
26 years$3,924$2,955$2,194$1,609$1,169$737
27 years$3,738$2,781$2,038$1,473$1,054$650
28 years$3,566$2,621$1,894$1,350$951$573
29 years$3,406$2,472$1,763$1,238$858$506
30 years$3,257$2,335$1,642$1,136$776$447
31 years$3,118$2,207$1,531$1,043$701$395
32 years$2,987$2,088$1,428$959$634$349
33 years$2,865$1,978$1,333$882$574$309
34 years$2,751$1,875$1,246$811$520$273
35 years$2,643$1,778$1,165$747$471$242
36 years$2,541$1,688$1,090$688$427$214
37 years$2,445$1,603$1,020$634$387$189
38 years$2,355$1,523$955$584$350$168
39 years$2,269$1,448$895$539$318$149
40 years$2,187$1,378$839$497$288$132
41 years$2,110$1,312$786$458$262$117
42 years$2,037$1,249$738$423$237$103
43 years$1,967$1,190$692$390$215$91
44 years$1,901$1,135$650$361$195$81
45 years$1,838$1,082$610$333$177$72
46 years$1,778$1,032$573$308$161$64
47 years$1,720$985$538$284$146$56
48 years$1,665$940$506$263$133$50
49 years$1,612$898$476$243$121$44
50 years$1,562$858$447$224$110$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,600,000, adding $5,180 every year, while hoping to spend $37,203 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: 53/34/13 Blend
58$1,600,000$1,600,000$1,600,000$1,600,000
59$1,768,543$1,683,743$1,658,943$1,855,945
60$1,909,351$1,726,663$1,674,934$1,959,015
61$2,063,274$1,770,439$1,690,214$2,066,675
62$2,231,611$1,815,074$1,704,719$2,182,958
63$2,415,792$1,860,569$1,718,384$2,308,693
64$2,617,391$1,906,925$1,731,138$2,444,788
65$2,838,142$1,954,140$1,742,907$2,592,247
66$3,079,952$2,002,214$1,753,615$2,752,173
67$3,344,926$2,051,141$1,763,180$2,925,782
68$3,635,378$2,100,916$1,771,516$3,114,412
69$3,953,858$2,151,532$1,778,533$3,319,539
70$4,303,174$2,202,981$1,784,137$3,542,787
71$4,686,421$2,255,249$1,788,228$3,785,946
72$5,107,005$2,308,325$1,790,703$4,050,986
73$5,568,679$2,362,193$1,791,451$4,340,080
74$6,075,578$2,416,834$1,790,358$4,655,621
75$6,632,256$2,472,228$1,787,304$5,000,246
76$7,243,729$2,528,351$1,782,162$5,376,858
77$7,915,525$2,585,175$1,774,800$5,788,658
78$8,653,732$2,642,672$1,765,079$6,239,174
79$9,465,056$2,700,806$1,752,853$6,732,292
80$10,356,888$2,759,542$1,737,970$7,272,293
81$11,337,368$2,818,837$1,720,269$7,863,896
82$12,415,465$2,878,646$1,699,584$8,512,302
83$13,601,062$2,938,919$1,675,739$9,223,240
84$14,905,045$2,999,600$1,648,551$10,003,025
85$16,339,409$3,060,631$1,617,827$10,858,616
86$17,917,371$3,121,944$1,583,367$11,797,681
87$19,653,493$3,183,469$1,544,959$12,828,673
88$21,563,818$3,245,127$1,502,384$13,960,905
89$23,666,025$3,306,836$1,455,411$15,204,641
90$25,979,591$3,368,504$1,403,800$16,571,193
91$28,525,981$3,430,031$1,347,298$18,073,028
92$31,328,840$3,491,312$1,285,642$19,723,884
93$34,414,228$3,552,232$1,218,557$21,538,902
94$37,810,855$3,612,668$1,145,755$23,534,770
95$41,550,359$3,672,485$1,066,934$25,729,878
96$45,667,600$3,731,542$981,782$28,144,494
97$50,200,992$3,789,684$889,968$30,800,954
98$55,192,862$3,846,747$791,150$33,723,876
99$60,689,851$3,902,554$684,970$36,940,390
100$66,743,353$3,956,917$571,054$40,480,395