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%18.9%
1 years$168,461$166,961$165,497$164,068$162,672$156,838
2 years$83,397$81,843$80,338$78,879$77,463$71,648
3 years$55,046$53,486$51,984$50,538$49,146$43,533
4 years$40,873$39,318$37,831$36,410$35,051$29,684
5 years$32,371$30,825$29,359$27,966$26,645$21,537
6 years$26,705$25,171$23,726$22,365$21,084$16,238
7 years$22,660$21,139$19,716$18,387$17,147$12,563
8 years$19,627$18,120$16,721$15,425$14,225$9,899
9 years$17,270$15,777$14,402$13,138$11,979$7,906
10 years$15,385$13,906$12,556$11,326$10,207$6,379
11 years$13,844$12,380$11,054$9,857$8,778$5,187
12 years$12,560$11,112$9,810$8,646$7,607$4,245
13 years$11,475$10,042$8,765$7,633$6,634$3,491
14 years$10,546$9,128$7,875$6,775$5,815$2,882
15 years$9,741$8,338$7,110$6,043$5,120$2,387
16 years$9,038$7,650$6,446$5,410$4,525$1,982
17 years$8,418$7,045$5,866$4,861$4,012$1,649
18 years$7,867$6,510$5,355$4,381$3,567$1,375
19 years$7,376$6,034$4,902$3,959$3,180$1,148
20 years$6,933$5,607$4,499$3,585$2,840$960
21 years$6,534$5,223$4,138$3,254$2,542$803
22 years$6,171$4,875$3,814$2,958$2,278$672
23 years$5,840$4,560$3,522$2,694$2,045$564
24 years$5,538$4,272$3,257$2,457$1,838$473
25 years$5,259$4,009$3,016$2,244$1,654$396
26 years$5,003$3,768$2,798$2,052$1,490$333
27 years$4,766$3,546$2,598$1,878$1,343$279
28 years$4,547$3,341$2,415$1,721$1,212$235
29 years$4,343$3,152$2,247$1,578$1,094$197
30 years$4,153$2,977$2,093$1,448$989$166
31 years$3,975$2,814$1,952$1,330$894$139
32 years$3,809$2,663$1,821$1,222$809$117
33 years$3,653$2,522$1,700$1,124$732$98
34 years$3,507$2,390$1,589$1,034$663$83
35 years$3,370$2,267$1,485$952$600$69
36 years$3,240$2,152$1,389$877$544$58
37 years$3,118$2,044$1,300$808$493$49
38 years$3,002$1,942$1,218$745$447$41
39 years$2,893$1,847$1,141$687$405$35
40 years$2,789$1,757$1,069$633$368$29
41 years$2,691$1,673$1,003$584$333$25
42 years$2,597$1,593$941$539$303$21
43 years$2,508$1,518$883$498$275$17
44 years$2,424$1,447$828$460$249$15
45 years$2,343$1,380$778$424$226$12
46 years$2,266$1,316$731$392$205$10
47 years$2,193$1,256$686$362$187$9
48 years$2,123$1,199$645$335$169$7
49 years$2,056$1,145$606$309$154$6
50 years$1,992$1,094$570$286$140$5

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 $6,647 every year, while hoping to spend $56,092 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: 35/44/21 Blend
58$2,040,000$2,040,000$2,040,000$2,040,000
59$2,254,936$2,146,816$2,115,196$2,319,244
60$2,425,258$2,192,329$2,126,374$2,412,648
61$2,611,073$2,238,192$2,136,046$2,507,706
62$2,813,902$2,284,362$2,144,103$2,609,121
63$3,035,419$2,330,795$2,150,430$2,717,493
64$3,277,468$2,377,440$2,154,905$2,833,485
65$3,542,077$2,424,242$2,157,402$2,957,825
66$3,831,482$2,471,142$2,157,787$3,091,320
67$4,148,140$2,518,076$2,155,921$3,234,859
68$4,494,763$2,564,974$2,151,656$3,389,422
69$4,874,331$2,611,760$2,144,839$3,556,092
70$5,290,130$2,658,354$2,135,309$3,736,062
71$5,745,778$2,704,667$2,122,895$3,930,652
72$6,245,256$2,750,605$2,107,422$4,141,316
73$6,792,954$2,796,067$2,088,702$4,369,659
74$7,393,704$2,840,943$2,066,542$4,617,453
75$8,052,828$2,885,115$2,040,738$4,886,651
76$8,776,189$2,928,458$2,011,075$5,179,412
77$9,570,245$2,970,838$1,977,331$5,498,115
78$10,442,110$3,012,108$1,939,271$5,845,386
79$11,399,620$3,052,116$1,896,651$6,224,125
80$12,451,406$3,090,695$1,849,214$6,637,528
81$13,606,979$3,127,668$1,796,692$7,089,124
82$14,876,815$3,162,848$1,738,805$7,582,805
83$16,272,454$3,196,032$1,675,260$8,122,867
84$17,806,612$3,227,005$1,605,749$8,714,048
85$19,493,297$3,255,539$1,529,952$9,361,576
86$21,347,942$3,281,389$1,447,533$10,071,219
87$23,387,550$3,304,294$1,358,143$10,849,338
88$25,630,854$3,323,979$1,261,415$11,702,952
89$28,098,496$3,340,148$1,156,967$12,639,803
90$30,813,215$3,352,489$1,044,399$13,668,432
91$33,800,069$3,360,667$923,292$14,798,259
92$37,086,666$3,364,329$793,212$16,039,673
93$40,703,423$3,363,098$653,702$17,404,136
94$44,683,858$3,356,576$504,287$18,904,288
95$49,064,901$3,344,337$344,470$20,554,068
96$53,887,244$3,325,933$173,732$22,368,853
97$59,195,724$3,300,885$0$24,365,598
98$65,039,746$3,268,687$0$26,564,903
99$71,473,750$3,228,802$0$29,027,156
100$78,557,721$3,180,662$0$31,736,261