Can I retire at age 59 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$168,461$166,961$165,497$164,068$162,672$159,846
2 years$83,397$81,843$80,338$78,879$77,463$74,625
3 years$55,046$53,486$51,984$50,538$49,146$46,384
4 years$40,873$39,318$37,831$36,410$35,051$32,387
5 years$32,371$30,825$29,359$27,966$26,645$24,086
6 years$26,705$25,171$23,726$22,365$21,084$18,633
7 years$22,660$21,139$19,716$18,387$17,147$14,805
8 years$19,627$18,120$16,721$15,425$14,225$11,991
9 years$17,270$15,777$14,402$13,138$11,979$9,853
10 years$15,385$13,906$12,556$11,326$10,207$8,186
11 years$13,844$12,380$11,054$9,857$8,778$6,861
12 years$12,560$11,112$9,810$8,646$7,607$5,790
13 years$11,475$10,042$8,765$7,633$6,634$4,914
14 years$10,546$9,128$7,875$6,775$5,815$4,190
15 years$9,741$8,338$7,110$6,043$5,120$3,587
16 years$9,038$7,650$6,446$5,410$4,525$3,080
17 years$8,418$7,045$5,866$4,861$4,012$2,653
18 years$7,867$6,510$5,355$4,381$3,567$2,289
19 years$7,376$6,034$4,902$3,959$3,180$1,980
20 years$6,933$5,607$4,499$3,585$2,840$1,715
21 years$6,534$5,223$4,138$3,254$2,542$1,488
22 years$6,171$4,875$3,814$2,958$2,278$1,292
23 years$5,840$4,560$3,522$2,694$2,045$1,124
24 years$5,538$4,272$3,257$2,457$1,838$978
25 years$5,259$4,009$3,016$2,244$1,654$852
26 years$5,003$3,768$2,798$2,052$1,490$742
27 years$4,766$3,546$2,598$1,878$1,343$647
28 years$4,547$3,341$2,415$1,721$1,212$565
29 years$4,343$3,152$2,247$1,578$1,094$493
30 years$4,153$2,977$2,093$1,448$989$431
31 years$3,975$2,814$1,952$1,330$894$376
32 years$3,809$2,663$1,821$1,222$809$329
33 years$3,653$2,522$1,700$1,124$732$287
34 years$3,507$2,390$1,589$1,034$663$251
35 years$3,370$2,267$1,485$952$600$220
36 years$3,240$2,152$1,389$877$544$192
37 years$3,118$2,044$1,300$808$493$168
38 years$3,002$1,942$1,218$745$447$147
39 years$2,893$1,847$1,141$687$405$129
40 years$2,789$1,757$1,069$633$368$113
41 years$2,691$1,673$1,003$584$333$99
42 years$2,597$1,593$941$539$303$86
43 years$2,508$1,518$883$498$275$75
44 years$2,424$1,447$828$460$249$66
45 years$2,343$1,380$778$424$226$58
46 years$2,266$1,316$731$392$205$51
47 years$2,193$1,256$686$362$187$44
48 years$2,123$1,199$645$335$169$39
49 years$2,056$1,145$606$309$154$34
50 years$1,992$1,094$570$286$140$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,040,000, adding $3,970 every year, while hoping to spend $58,774 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: 61/21/18 Blend
58$2,040,000$2,040,000$2,040,000$2,040,000
59$2,252,175$2,144,055$2,112,435$2,378,926
60$2,419,362$2,186,579$2,120,667$2,507,444
61$2,601,632$2,229,216$2,127,204$2,640,733
62$2,800,461$2,271,911$2,131,928$2,784,834
63$3,017,476$2,314,602$2,134,715$2,940,803
64$3,254,464$2,357,223$2,135,434$3,109,803
65$3,513,394$2,399,702$2,133,946$3,293,117
66$3,796,435$2,441,962$2,130,108$3,492,160
67$4,105,974$2,483,921$2,123,769$3,708,488
68$4,444,638$2,525,487$2,114,770$3,943,820
69$4,815,321$2,566,567$2,102,945$4,200,048
70$5,221,210$2,607,054$2,088,120$4,479,260
71$5,665,814$2,646,840$2,070,112$4,783,757
72$6,152,996$2,685,804$2,048,730$5,116,074
73$6,687,013$2,723,820$2,023,773$5,479,007
74$7,272,551$2,760,750$1,995,033$5,875,638
75$7,914,774$2,796,450$1,962,289$6,309,365
76$8,619,366$2,830,761$1,925,311$6,783,932
77$9,392,592$2,863,518$1,883,859$7,303,468
78$10,241,349$2,894,544$1,837,681$7,872,526
79$11,173,237$2,923,646$1,786,514$8,496,122
80$12,196,626$2,950,624$1,730,081$9,179,788
81$13,320,738$2,975,261$1,668,095$9,929,623
82$14,555,731$2,997,327$1,600,254$10,752,347
83$15,912,797$3,016,576$1,526,243$11,655,372
84$17,404,263$3,032,750$1,445,733$12,646,866
85$19,043,712$3,045,568$1,358,379$13,735,836
86$20,846,107$3,054,738$1,263,822$14,932,208
87$22,827,935$3,059,945$1,161,685$16,246,925
88$25,007,358$3,060,856$1,051,575$17,692,051
89$27,404,388$3,057,118$933,083$19,280,885
90$30,041,073$3,048,354$805,779$21,028,085
91$32,941,705$3,034,166$669,215$22,949,810
92$36,133,050$3,014,131$522,924$25,063,872
93$39,644,597$2,987,800$366,418$27,389,906
94$43,508,841$2,954,697$199,188$29,949,556
95$47,761,583$2,914,317$20,701$32,766,680
96$52,442,272$2,866,126$0$35,867,573
97$57,594,375$2,809,558$0$39,313,832
98$63,265,787$2,744,011$0$43,111,162
99$69,509,281$2,668,852$0$47,290,919
100$76,383,010$2,583,408$0$51,892,044