Can I retire at age 59 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$143,688$142,408$141,159$139,940$138,750$135,671
2 years$71,132$69,808$68,524$67,279$66,071$62,986
3 years$46,951$45,620$44,339$43,106$41,918$38,922
4 years$34,862$33,536$32,268$31,056$29,897$27,013
5 years$27,611$26,292$25,041$23,854$22,727$19,963
6 years$22,778$21,470$20,237$19,076$17,983$15,343
7 years$19,328$18,030$16,817$15,683$14,625$12,109
8 years$16,741$15,455$14,262$13,156$12,133$9,740
9 years$14,730$13,457$12,284$11,206$10,218$7,946
10 years$13,122$11,861$10,709$9,660$8,706$6,553
11 years$11,808$10,559$9,428$8,407$7,487$5,450
12 years$10,713$9,478$8,367$7,374$6,488$4,564
13 years$9,788$8,565$7,476$6,510$5,658$3,843
14 years$8,995$7,785$6,717$5,779$4,960$3,250
15 years$8,309$7,112$6,065$5,154$4,367$2,759
16 years$7,709$6,525$5,498$4,615$3,860$2,350
17 years$7,180$6,009$5,003$4,146$3,422$2,006
18 years$6,711$5,553$4,567$3,737$3,043$1,716
19 years$6,291$5,146$4,181$3,376$2,712$1,471
20 years$5,914$4,782$3,837$3,058$2,423$1,263
21 years$5,573$4,455$3,530$2,775$2,168$1,086
22 years$5,263$4,158$3,253$2,523$1,943$934
23 years$4,981$3,889$3,004$2,298$1,744$805
24 years$4,723$3,644$2,778$2,096$1,568$694
25 years$4,486$3,419$2,573$1,914$1,411$599
26 years$4,267$3,214$2,386$1,750$1,271$517
27 years$4,065$3,025$2,216$1,602$1,146$446
28 years$3,878$2,850$2,060$1,468$1,034$386
29 years$3,704$2,689$1,917$1,346$934$333
30 years$3,542$2,539$1,786$1,235$843$288
31 years$3,391$2,400$1,665$1,135$763$249
32 years$3,249$2,271$1,553$1,043$690$216
33 years$3,116$2,151$1,450$959$624$187
34 years$2,991$2,039$1,355$882$565$162
35 years$2,874$1,934$1,267$812$512$140
36 years$2,764$1,835$1,185$748$464$121
37 years$2,659$1,743$1,109$689$420$105
38 years$2,561$1,656$1,039$635$381$91
39 years$2,467$1,575$973$586$346$79
40 years$2,379$1,499$912$540$313$68
41 years$2,295$1,427$855$498$284$59
42 years$2,215$1,359$802$460$258$51
43 years$2,139$1,294$753$425$234$44
44 years$2,067$1,234$707$392$213$38
45 years$1,999$1,177$664$362$193$33
46 years$1,933$1,122$623$334$175$29
47 years$1,871$1,071$585$309$159$25
48 years$1,811$1,023$550$286$145$22
49 years$1,754$977$517$264$131$19
50 years$1,699$933$486$244$119$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,740,000, adding $6,071 every year, while hoping to spend $35,312 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: 49/37/14 Blend
58$1,740,000$1,740,000$1,740,000$1,740,000
59$1,923,742$1,831,522$1,804,552$2,010,296
60$2,082,392$1,883,695$1,827,433$2,122,715
61$2,256,041$1,937,241$1,849,897$2,240,601
62$2,446,181$1,992,190$1,871,892$2,367,872
63$2,654,457$2,048,572$1,893,366$2,505,419
64$2,882,677$2,106,418$1,914,259$2,654,222
65$3,132,836$2,165,758$1,934,513$2,815,363
66$3,407,129$2,226,624$1,954,063$2,990,029
67$3,707,975$2,289,047$1,972,843$3,179,529
68$4,038,036$2,353,059$1,990,781$3,385,303
69$4,400,247$2,418,690$2,007,803$3,608,936
70$4,797,839$2,485,972$2,023,831$3,852,175
71$5,234,371$2,554,938$2,038,782$4,116,942
72$5,713,765$2,625,618$2,052,570$4,405,355
73$6,240,340$2,698,044$2,065,102$4,719,744
74$6,818,855$2,772,248$2,076,282$5,062,677
75$7,454,551$2,848,261$2,086,010$5,436,984
76$8,153,203$2,926,113$2,094,180$5,845,778
77$8,921,174$3,005,837$2,100,679$6,292,492
78$9,765,473$3,087,462$2,105,391$6,780,906
79$10,693,822$3,171,019$2,108,192$7,315,182
80$11,714,729$3,256,536$2,108,954$7,899,909
81$12,837,568$3,344,043$2,107,541$8,540,139
82$14,072,666$3,433,568$2,103,810$9,241,441
83$15,431,403$3,525,137$2,097,613$10,009,946
84$16,926,316$3,618,779$2,088,792$10,852,414
85$18,571,219$3,714,518$2,077,186$11,776,290
86$20,381,332$3,812,378$2,062,620$12,789,777
87$22,373,426$3,912,382$2,044,916$13,901,914
88$24,565,979$4,014,553$2,023,884$15,122,660
89$26,979,352$4,118,909$1,999,327$16,462,989
90$29,635,980$4,225,470$1,971,039$17,934,993
91$32,560,583$4,334,251$1,938,802$19,551,996
92$35,780,401$4,445,267$1,902,389$21,328,678
93$39,325,446$4,558,530$1,861,564$23,281,218
94$43,228,793$4,674,049$1,816,078$25,427,442
95$47,526,884$4,791,832$1,765,671$27,786,994
96$52,259,876$4,911,881$1,710,071$30,381,520
97$57,472,019$5,034,199$1,648,993$33,234,874
98$63,212,072$5,158,781$1,582,141$36,373,341
99$69,533,764$5,285,622$1,509,204$39,825,885
100$76,496,301$5,414,712$1,429,856$43,624,428