Can I retire at age 59 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$162,681$161,232$159,818$158,438$157,091$154,045
2 years$80,535$79,035$77,582$76,172$74,805$71,749
3 years$53,157$51,650$50,200$48,804$47,459$44,488
4 years$39,470$37,968$36,533$35,161$33,848$30,985
5 years$31,260$29,768$28,351$27,007$25,731$22,983
6 years$25,789$24,308$22,912$21,598$20,360$17,731
7 years$21,883$20,413$19,040$17,757$16,558$14,049
8 years$18,954$17,498$16,147$14,896$13,737$11,346
9 years$16,677$15,235$13,908$12,688$11,568$9,295
10 years$14,857$13,429$12,125$10,937$9,857$7,699
11 years$13,369$11,955$10,675$9,518$8,477$6,432
12 years$12,129$10,730$9,474$8,349$7,346$5,411
13 years$11,082$9,697$8,464$7,371$6,406$4,577
14 years$10,184$8,814$7,605$6,543$5,615$3,890
15 years$9,407$8,052$6,866$5,835$4,944$3,318
16 years$8,728$7,388$6,225$5,225$4,370$2,840
17 years$8,129$6,804$5,665$4,694$3,875$2,437
18 years$7,598$6,287$5,171$4,231$3,445$2,095
19 years$7,122$5,827$4,734$3,823$3,071$1,805
20 years$6,695$5,414$4,345$3,462$2,743$1,558
21 years$6,310$5,043$3,996$3,142$2,454$1,347
22 years$5,959$4,708$3,683$2,857$2,200$1,165
23 years$5,640$4,403$3,401$2,602$1,975$1,009
24 years$5,347$4,125$3,145$2,373$1,775$875
25 years$5,079$3,871$2,913$2,167$1,597$759
26 years$4,831$3,639$2,702$1,982$1,439$659
27 years$4,603$3,424$2,509$1,814$1,297$572
28 years$4,391$3,227$2,332$1,662$1,170$497
29 years$4,194$3,044$2,170$1,524$1,057$432
30 years$4,010$2,875$2,022$1,399$955$376
31 years$3,839$2,718$1,885$1,285$863$327
32 years$3,678$2,571$1,758$1,180$781$285
33 years$3,528$2,435$1,642$1,086$707$248
34 years$3,387$2,308$1,534$999$640$216
35 years$3,254$2,189$1,434$919$580$188
36 years$3,129$2,078$1,342$847$525$164
37 years$3,011$1,973$1,256$780$476$143
38 years$2,899$1,875$1,176$719$432$124
39 years$2,793$1,783$1,102$663$391$108
40 years$2,693$1,697$1,033$612$355$94
41 years$2,598$1,615$968$564$322$82
42 years$2,508$1,538$908$521$292$72
43 years$2,422$1,466$852$481$265$62
44 years$2,341$1,397$800$444$241$54
45 years$2,263$1,332$751$410$219$47
46 years$2,189$1,271$706$379$198$41
47 years$2,118$1,213$663$350$180$36
48 years$2,050$1,158$623$323$164$31
49 years$1,985$1,106$586$299$149$27
50 years$1,923$1,056$550$276$135$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $1,970,000, adding $5,733 every year, while hoping to spend $53,866 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: 75/7/18 Blend
58$1,970,000$1,970,000$1,970,000$1,970,000
59$2,176,854$2,072,444$2,041,909$2,330,697
60$2,341,580$2,116,680$2,053,000$2,477,590
61$2,521,302$2,161,279$2,062,657$2,631,357
62$2,717,495$2,206,201$2,070,775$2,798,479
63$2,931,778$2,251,404$2,077,245$2,980,272
64$3,165,936$2,296,840$2,081,949$3,178,185
65$3,421,935$2,342,458$2,084,768$3,393,818
66$3,701,937$2,388,204$2,085,573$3,628,930
67$4,008,325$2,434,016$2,084,230$3,885,461
68$4,343,722$2,479,830$2,080,599$4,165,548
69$4,711,015$2,525,576$2,074,533$4,471,545
70$5,113,386$2,571,176$2,065,877$4,806,048
71$5,554,337$2,616,549$2,054,469$5,171,915
72$6,037,725$2,661,606$2,040,139$5,572,296
73$6,567,799$2,706,251$2,022,711$6,010,664
74$7,149,239$2,750,382$2,001,996$6,490,843
75$7,787,199$2,793,888$1,977,800$7,017,051
76$8,487,357$2,836,651$1,949,920$7,593,931
77$9,255,964$2,878,545$1,918,139$8,226,605
78$10,099,912$2,919,432$1,882,236$8,920,713
79$11,026,786$2,959,168$1,841,975$9,682,474
80$12,044,948$2,997,597$1,797,110$10,518,740
81$13,163,605$3,034,551$1,747,386$11,437,062
82$14,392,902$3,069,854$1,692,533$12,445,762
83$15,744,016$3,103,315$1,632,270$13,554,011
84$17,229,259$3,134,731$1,566,305$14,771,916
85$18,862,197$3,163,885$1,494,329$16,110,617
86$20,657,774$3,190,549$1,416,022$17,582,389
87$22,632,456$3,214,475$1,331,048$19,200,761
88$24,804,385$3,235,403$1,239,057$20,980,642
89$27,193,549$3,253,054$1,139,682$22,938,465
90$29,821,969$3,267,132$1,032,540$25,092,338
91$32,713,911$3,277,322$917,230$27,462,219
92$35,896,109$3,283,290$793,337$30,070,102
93$39,398,020$3,284,680$660,422$32,940,226
94$43,252,103$3,281,114$518,030$36,099,306
95$47,494,119$3,272,190$365,686$39,576,782
96$52,163,476$3,257,484$202,894$43,405,101
97$57,303,594$3,236,544$29,133$47,620,020
98$62,962,315$3,208,890$0$52,260,946
99$69,192,360$3,174,014$0$57,401,329
100$76,051,818$3,131,378$0$63,066,934