Can I retire at age 59 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$170,113$168,598$167,119$165,676$164,267$158,250
2 years$84,214$82,646$81,126$79,652$78,223$72,227
3 years$55,585$54,010$52,494$51,034$49,628$43,843
4 years$41,273$39,703$38,202$36,767$35,395$29,865
5 years$32,689$31,128$29,646$28,241$26,907$21,646
6 years$26,967$25,418$23,959$22,584$21,290$16,302
7 years$22,882$21,346$19,910$18,568$17,315$12,598
8 years$19,820$18,298$16,885$15,576$14,364$9,915
9 years$17,439$15,931$14,543$13,267$12,097$7,909
10 years$15,536$14,043$12,679$11,437$10,307$6,373
11 years$13,980$12,501$11,162$9,953$8,864$5,176
12 years$12,684$11,221$9,906$8,730$7,682$4,230
13 years$11,588$10,140$8,851$7,708$6,699$3,474
14 years$10,649$9,217$7,952$6,842$5,872$2,864
15 years$9,837$8,420$7,180$6,102$5,170$2,368
16 years$9,127$7,725$6,510$5,463$4,569$1,964
17 years$8,501$7,115$5,924$4,909$4,052$1,632
18 years$7,945$6,574$5,407$4,424$3,602$1,358
19 years$7,448$6,093$4,950$3,997$3,211$1,132
20 years$7,001$5,662$4,543$3,620$2,868$945
21 years$6,598$5,274$4,179$3,286$2,567$790
22 years$6,231$4,923$3,851$2,987$2,301$660
23 years$5,897$4,604$3,556$2,721$2,065$552
24 years$5,592$4,314$3,289$2,481$1,856$462
25 years$5,311$4,048$3,046$2,266$1,670$387
26 years$5,052$3,805$2,825$2,072$1,505$325
27 years$4,813$3,581$2,623$1,897$1,356$272
28 years$4,591$3,374$2,439$1,738$1,224$228
29 years$4,385$3,183$2,269$1,594$1,105$191
30 years$4,193$3,006$2,114$1,462$999$160
31 years$4,014$2,842$1,971$1,343$903$135
32 years$3,846$2,689$1,839$1,234$817$113
33 years$3,689$2,546$1,717$1,135$739$95
34 years$3,542$2,413$1,604$1,044$669$80
35 years$3,403$2,289$1,500$961$606$67
36 years$3,272$2,173$1,403$885$549$56
37 years$3,148$2,064$1,313$816$498$47
38 years$3,032$1,961$1,230$752$451$39
39 years$2,921$1,865$1,152$693$409$33
40 years$2,816$1,774$1,080$640$371$28
41 years$2,717$1,689$1,013$590$337$23
42 years$2,623$1,608$950$545$306$20
43 years$2,533$1,533$891$503$277$16
44 years$2,448$1,461$837$464$252$14
45 years$2,366$1,393$786$429$228$12
46 years$2,289$1,329$738$396$207$10
47 years$2,215$1,268$693$366$188$8
48 years$2,144$1,211$651$338$171$7
49 years$2,076$1,156$612$312$155$6
50 years$2,011$1,104$576$289$141$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,060,000, adding $2,221 every year, while hoping to spend $58,276 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: 53/37/10 Blend
58$2,060,000$2,060,000$2,060,000$2,060,000
59$2,272,411$2,163,231$2,131,301$2,386,936
60$2,442,192$2,207,224$2,140,694$2,509,001
61$2,627,337$2,251,420$2,148,449$2,635,240
62$2,829,352$2,295,766$2,154,449$2,771,213
63$3,049,895$2,340,207$2,158,572$2,917,855
64$3,290,789$2,384,683$2,160,689$3,076,195
65$3,554,044$2,429,126$2,160,666$3,247,366
66$3,841,870$2,473,467$2,158,362$3,432,618
67$4,156,701$2,517,627$2,153,628$3,633,326
68$4,501,218$2,561,525$2,146,308$3,851,010
69$4,878,373$2,605,070$2,136,240$4,087,341
70$5,291,416$2,648,167$2,123,253$4,344,163
71$5,743,926$2,690,713$2,107,167$4,623,507
72$6,239,844$2,732,596$2,087,795$4,927,615
73$6,783,512$2,773,697$2,064,941$5,258,955
74$7,379,712$2,813,890$2,038,397$5,620,248
75$8,033,708$2,853,036$2,007,950$6,014,497
76$8,751,302$2,890,991$1,973,372$6,445,007
77$9,538,883$2,927,597$1,934,428$6,915,427
78$10,403,488$2,962,688$1,890,870$7,429,776
79$11,352,869$2,996,085$1,842,439$7,992,487
80$12,395,566$3,027,598$1,788,865$8,608,444
81$13,540,986$3,057,022$1,729,865$9,283,036
82$14,799,493$3,084,143$1,665,141$10,022,199
83$16,182,503$3,108,728$1,594,386$10,832,482
84$17,702,595$3,130,532$1,517,274$11,721,101
85$19,373,624$3,149,293$1,433,467$12,696,013
86$21,210,858$3,164,732$1,342,612$13,765,990
87$23,231,114$3,176,552$1,244,339$14,940,703
88$25,452,925$3,184,440$1,138,261$16,230,813
89$27,896,705$3,188,060$1,023,974$17,648,073
90$30,584,950$3,187,056$901,059$19,205,438
91$33,542,443$3,181,050$769,073$20,917,194
92$36,796,493$3,169,642$627,557$22,799,087
93$40,377,186$3,152,405$476,031$24,868,474
94$44,317,674$3,128,888$313,993$27,144,492
95$48,654,486$3,098,613$140,921$29,648,236
96$53,427,869$3,061,071$0$32,402,960
97$58,682,173$3,015,724$0$35,438,970
98$64,466,262$2,962,002$0$38,796,203
99$70,833,981$2,899,300$0$42,490,820
100$77,844,661$2,826,979$0$46,557,226