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

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 $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%
1 years$168,461$166,961$165,497$164,068$162,672$159,978
2 years$83,397$81,843$80,338$78,879$77,463$74,756
3 years$55,046$53,486$51,984$50,538$49,146$46,511
4 years$40,873$39,318$37,831$36,410$35,051$32,508
5 years$32,371$30,825$29,359$27,966$26,645$24,202
6 years$26,705$25,171$23,726$22,365$21,084$18,743
7 years$22,660$21,139$19,716$18,387$17,147$14,909
8 years$19,627$18,120$16,721$15,425$14,225$12,090
9 years$17,270$15,777$14,402$13,138$11,979$9,946
10 years$15,385$13,906$12,556$11,326$10,207$8,273
11 years$13,844$12,380$11,054$9,857$8,778$6,942
12 years$12,560$11,112$9,810$8,646$7,607$5,866
13 years$11,475$10,042$8,765$7,633$6,634$4,985
14 years$10,546$9,128$7,875$6,775$5,815$4,257
15 years$9,741$8,338$7,110$6,043$5,120$3,649
16 years$9,038$7,650$6,446$5,410$4,525$3,138
17 years$8,418$7,045$5,866$4,861$4,012$2,706
18 years$7,867$6,510$5,355$4,381$3,567$2,339
19 years$7,376$6,034$4,902$3,959$3,180$2,026
20 years$6,933$5,607$4,499$3,585$2,840$1,758
21 years$6,534$5,223$4,138$3,254$2,542$1,527
22 years$6,171$4,875$3,814$2,958$2,278$1,328
23 years$5,840$4,560$3,522$2,694$2,045$1,157
24 years$5,538$4,272$3,257$2,457$1,838$1,008
25 years$5,259$4,009$3,016$2,244$1,654$880
26 years$5,003$3,768$2,798$2,052$1,490$768
27 years$4,766$3,546$2,598$1,878$1,343$671
28 years$4,547$3,341$2,415$1,721$1,212$586
29 years$4,343$3,152$2,247$1,578$1,094$513
30 years$4,153$2,977$2,093$1,448$989$448
31 years$3,975$2,814$1,952$1,330$894$392
32 years$3,809$2,663$1,821$1,222$809$343
33 years$3,653$2,522$1,700$1,124$732$301
34 years$3,507$2,390$1,589$1,034$663$263
35 years$3,370$2,267$1,485$952$600$231
36 years$3,240$2,152$1,389$877$544$202
37 years$3,118$2,044$1,300$808$493$177
38 years$3,002$1,942$1,218$745$447$155
39 years$2,893$1,847$1,141$687$405$136
40 years$2,789$1,757$1,069$633$368$119
41 years$2,691$1,673$1,003$584$333$104
42 years$2,597$1,593$941$539$303$92
43 years$2,508$1,518$883$498$275$80
44 years$2,424$1,447$828$460$249$70
45 years$2,343$1,380$778$424$226$62
46 years$2,266$1,316$731$392$205$54
47 years$2,193$1,256$686$362$187$47
48 years$2,123$1,199$645$335$169$42
49 years$2,056$1,145$606$309$154$37
50 years$1,992$1,094$570$286$140$32

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 $4,471 every year, while hoping to spend $22,501 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: 44/46/10 Blend
58$2,040,000$2,040,000$2,040,000$2,040,000
59$2,252,692$2,144,572$2,112,952$2,345,174
60$2,458,526$2,225,715$2,159,795$2,490,995
61$2,684,600$2,310,080$2,207,453$2,646,303
62$2,932,956$2,397,801$2,255,930$2,814,120
63$3,205,843$2,489,018$2,305,228$2,995,604
64$3,505,736$2,583,877$2,355,350$3,192,028
65$3,835,364$2,682,530$2,406,298$3,404,789
66$4,197,734$2,785,137$2,458,071$3,635,419
67$4,596,157$2,891,863$2,510,671$3,885,607
68$5,034,282$3,002,881$2,564,096$4,157,204
69$5,516,129$3,118,373$2,618,344$4,452,246
70$6,046,128$3,238,527$2,673,412$4,772,973
71$6,629,159$3,363,540$2,729,297$5,121,845
72$7,270,598$3,493,619$2,785,993$5,501,569
73$7,976,369$3,628,976$2,843,494$5,915,119
74$8,753,001$3,769,838$2,901,793$6,365,769
75$9,607,685$3,916,438$2,960,881$6,857,117
76$10,548,346$4,069,020$3,020,747$7,393,124
77$11,583,715$4,227,840$3,081,380$7,978,145
78$12,723,414$4,393,165$3,142,767$8,616,973
79$13,978,045$4,565,273$3,204,892$9,314,881
80$15,359,289$4,744,454$3,267,739$10,077,672
81$16,880,017$4,931,013$3,331,290$10,911,732
82$18,554,413$5,125,267$3,395,522$11,824,090
83$20,398,106$5,327,548$3,460,414$12,822,480
84$22,428,316$5,538,201$3,525,942$13,915,418
85$24,664,020$5,757,589$3,592,077$15,112,277
86$27,126,129$5,986,089$3,658,789$16,423,375
87$29,837,683$6,224,096$3,726,048$17,860,073
88$32,824,073$6,472,024$3,793,818$19,434,876
89$36,113,279$6,730,303$3,862,060$21,161,556
90$39,736,129$6,999,384$3,930,735$23,055,275
91$43,726,598$7,279,738$3,999,799$25,132,728
92$48,122,123$7,571,856$4,069,204$27,412,301
93$52,963,956$7,876,254$4,138,899$29,914,241
94$58,297,558$8,193,469$4,208,830$32,660,842
95$64,173,022$8,524,062$4,278,939$35,676,661
96$70,645,551$8,868,622$4,349,164$38,988,740
97$77,775,975$9,227,762$4,419,439$42,626,865
98$85,631,326$9,602,123$4,489,692$46,623,841
99$94,285,472$9,992,378$4,559,847$51,015,801
100$103,819,813$10,399,228$4,629,825$55,842,545