Can I retire at age 59 with 2,030,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$167,636$166,142$164,685$163,264$161,875$156,318
2 years$82,988$81,442$79,944$78,492$77,083$71,542
3 years$54,776$53,223$51,729$50,291$48,905$43,552
4 years$40,672$39,125$37,646$36,232$34,879$29,757
5 years$32,213$30,674$29,215$27,829$26,515$21,636
6 years$26,575$25,048$23,610$22,255$20,980$16,348
7 years$22,549$21,035$19,620$18,297$17,063$12,677
8 years$19,531$18,031$16,639$15,349$14,155$10,013
9 years$17,185$15,699$14,331$13,074$11,921$8,016
10 years$15,310$13,838$12,494$11,270$10,157$6,484
11 years$13,776$12,319$11,000$9,808$8,735$5,287
12 years$12,499$11,057$9,762$8,603$7,570$4,338
13 years$11,419$9,992$8,722$7,595$6,601$3,577
14 years$10,494$9,083$7,837$6,742$5,786$2,961
15 years$9,694$8,297$7,075$6,013$5,095$2,460
16 years$8,994$7,613$6,415$5,384$4,503$2,048
17 years$8,377$7,011$5,837$4,837$3,993$1,710
18 years$7,829$6,478$5,329$4,359$3,550$1,430
19 years$7,339$6,004$4,878$3,939$3,164$1,197
20 years$6,899$5,579$4,477$3,568$2,826$1,004
21 years$6,502$5,197$4,118$3,238$2,529$842
22 years$6,141$4,851$3,795$2,944$2,267$708
23 years$5,812$4,537$3,504$2,681$2,035$595
24 years$5,510$4,251$3,241$2,445$1,829$500
25 years$5,234$3,989$3,002$2,233$1,646$421
26 years$4,979$3,749$2,784$2,042$1,483$355
27 years$4,743$3,529$2,585$1,869$1,337$299
28 years$4,524$3,325$2,403$1,712$1,206$252
29 years$4,321$3,137$2,236$1,570$1,089$212
30 years$4,132$2,962$2,083$1,441$984$179
31 years$3,956$2,800$1,942$1,324$890$151
32 years$3,790$2,650$1,812$1,216$805$127
33 years$3,635$2,509$1,692$1,119$728$107
34 years$3,490$2,378$1,581$1,029$659$90
35 years$3,353$2,256$1,478$947$597$76
36 years$3,224$2,141$1,383$873$541$64
37 years$3,102$2,034$1,294$804$490$54
38 years$2,987$1,933$1,212$741$445$46
39 years$2,878$1,838$1,135$683$403$39
40 years$2,775$1,748$1,064$630$366$33
41 years$2,677$1,664$998$581$332$27
42 years$2,584$1,585$936$537$301$23
43 years$2,496$1,510$878$495$273$20
44 years$2,412$1,440$824$457$248$17
45 years$2,332$1,373$774$422$225$14
46 years$2,255$1,310$727$390$204$12
47 years$2,182$1,250$683$360$186$10
48 years$2,113$1,193$642$333$169$8
49 years$2,046$1,139$603$308$153$7
50 years$1,982$1,088$567$285$139$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,030,000, adding $5,403 every year, while hoping to spend $38,152 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: 47/29/24 Blend
58$2,030,000$2,030,000$2,030,000$2,030,000
59$2,242,633$2,135,043$2,103,578$2,332,431
60$2,430,788$2,199,067$2,133,455$2,460,012
61$2,636,857$2,264,949$2,163,053$2,594,216
62$2,862,625$2,332,740$2,192,324$2,739,127
63$3,110,061$2,402,493$2,221,216$2,895,765
64$3,381,332$2,474,260$2,249,671$3,065,256
65$3,678,826$2,548,096$2,277,633$3,248,839
66$4,005,170$2,624,057$2,305,038$3,447,876
67$4,363,261$2,702,200$2,331,821$3,663,869
68$4,756,289$2,782,583$2,357,912$3,898,470
69$5,187,767$2,865,266$2,383,238$4,153,500
70$5,661,566$2,950,311$2,407,723$4,430,962
71$6,181,948$3,037,778$2,431,284$4,733,064
72$6,753,611$3,127,733$2,453,836$5,062,236
73$7,381,728$3,220,241$2,475,288$5,421,156
74$8,071,999$3,315,368$2,495,545$5,812,773
75$8,830,704$3,413,182$2,514,507$6,240,334
76$9,664,760$3,513,753$2,532,068$6,707,419
77$10,581,791$3,617,151$2,548,117$7,217,969
78$11,590,191$3,723,450$2,562,537$7,776,326
79$12,699,215$3,832,723$2,575,206$8,387,274
80$13,919,053$3,945,044$2,585,994$9,056,084
81$15,260,937$4,060,492$2,594,765$9,788,563
82$16,737,241$4,179,145$2,601,378$10,591,107
83$18,361,598$4,301,081$2,605,683$11,470,766
84$20,149,030$4,426,383$2,607,522$12,435,306
85$22,116,088$4,555,133$2,606,732$13,493,284
86$24,281,010$4,687,416$2,603,138$14,654,129
87$26,663,890$4,823,316$2,596,560$15,928,229
88$29,286,869$4,962,921$2,586,807$17,327,033
89$32,174,346$5,106,320$2,573,681$18,863,154
90$35,353,201$5,253,601$2,556,971$20,550,491
91$38,853,057$5,404,858$2,536,460$22,404,360
92$42,706,555$5,560,181$2,511,917$24,441,638
93$46,949,659$5,719,666$2,483,102$26,680,924
94$51,622,002$5,883,407$2,449,763$29,142,709
95$56,767,253$6,051,501$2,411,637$31,849,577
96$62,433,534$6,224,046$2,368,448$34,826,414
97$68,673,871$6,401,140$2,319,907$38,100,641
98$75,546,693$6,582,883$2,265,711$41,702,479
99$83,116,387$6,769,376$2,205,544$45,665,227
100$91,453,905$6,960,722$2,139,076$50,025,584