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

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$170,113$168,598$167,119$165,676$164,267$162,552
2 years$84,214$82,646$81,126$79,652$78,223$76,495
3 years$55,585$54,010$52,494$51,034$49,628$47,942
4 years$41,273$39,703$38,202$36,767$35,395$33,763
5 years$32,689$31,128$29,646$28,241$26,907$25,334
6 years$26,967$25,418$23,959$22,584$21,290$19,779
7 years$22,882$21,346$19,910$18,568$17,315$15,866
8 years$19,820$18,298$16,885$15,576$14,364$12,977
9 years$17,439$15,931$14,543$13,267$12,097$10,771
10 years$15,536$14,043$12,679$11,437$10,307$9,041
11 years$13,980$12,501$11,162$9,953$8,864$7,658
12 years$12,684$11,221$9,906$8,730$7,682$6,534
13 years$11,588$10,140$8,851$7,708$6,699$5,607
14 years$10,649$9,217$7,952$6,842$5,872$4,836
15 years$9,837$8,420$7,180$6,102$5,170$4,188
16 years$9,127$7,725$6,510$5,463$4,569$3,639
17 years$8,501$7,115$5,924$4,909$4,052$3,172
18 years$7,945$6,574$5,407$4,424$3,602$2,771
19 years$7,448$6,093$4,950$3,997$3,211$2,427
20 years$7,001$5,662$4,543$3,620$2,868$2,129
21 years$6,598$5,274$4,179$3,286$2,567$1,870
22 years$6,231$4,923$3,851$2,987$2,301$1,646
23 years$5,897$4,604$3,556$2,721$2,065$1,450
24 years$5,592$4,314$3,289$2,481$1,856$1,279
25 years$5,311$4,048$3,046$2,266$1,670$1,129
26 years$5,052$3,805$2,825$2,072$1,505$997
27 years$4,813$3,581$2,623$1,897$1,356$882
28 years$4,591$3,374$2,439$1,738$1,224$780
29 years$4,385$3,183$2,269$1,594$1,105$690
30 years$4,193$3,006$2,114$1,462$999$611
31 years$4,014$2,842$1,971$1,343$903$541
32 years$3,846$2,689$1,839$1,234$817$480
33 years$3,689$2,546$1,717$1,135$739$425
34 years$3,542$2,413$1,604$1,044$669$377
35 years$3,403$2,289$1,500$961$606$335
36 years$3,272$2,173$1,403$885$549$297
37 years$3,148$2,064$1,313$816$498$264
38 years$3,032$1,961$1,230$752$451$234
39 years$2,921$1,865$1,152$693$409$208
40 years$2,816$1,774$1,080$640$371$184
41 years$2,717$1,689$1,013$590$337$164
42 years$2,623$1,608$950$545$306$145
43 years$2,533$1,533$891$503$277$129
44 years$2,448$1,461$837$464$252$115
45 years$2,366$1,393$786$429$228$102
46 years$2,289$1,329$738$396$207$91
47 years$2,215$1,268$693$366$188$80
48 years$2,144$1,211$651$338$171$71
49 years$2,076$1,156$612$312$155$64
50 years$2,011$1,104$576$289$141$56

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 $4,862 every year, while hoping to spend $30,094 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: 29/49/22 Blend
58$2,060,000$2,060,000$2,060,000$2,060,000
59$2,275,135$2,165,955$2,134,025$2,325,318
60$2,475,179$2,240,067$2,173,495$2,438,574
61$2,694,619$2,316,802$2,213,279$2,557,252
62$2,935,401$2,396,257$2,253,355$2,684,218
63$3,199,670$2,478,531$2,293,700$2,820,201
64$3,489,788$2,563,730$2,334,290$2,966,007
65$3,808,355$2,651,962$2,375,098$3,122,515
66$4,158,239$2,743,340$2,416,096$3,290,693
67$4,542,596$2,837,980$2,457,251$3,471,603
68$4,964,904$2,936,004$2,498,532$3,666,412
69$5,428,995$3,037,539$2,539,904$3,876,402
70$5,939,090$3,142,716$2,581,328$4,102,980
71$6,499,839$3,251,671$2,622,764$4,347,693
72$7,116,365$3,364,546$2,664,170$4,612,243
73$7,794,314$3,481,489$2,705,500$4,898,498
74$8,539,905$3,602,652$2,746,704$5,208,513
75$9,359,989$3,728,195$2,787,732$5,544,550
76$10,262,115$3,858,284$2,828,529$5,909,092
77$11,254,601$3,993,090$2,869,035$6,304,873
78$12,346,612$4,132,793$2,909,189$6,734,901
79$13,548,245$4,277,579$2,948,926$7,202,483
80$14,870,627$4,427,641$2,988,176$7,711,258
81$16,326,016$4,583,181$3,026,865$8,265,231
82$17,927,921$4,744,408$3,064,916$8,868,810
83$19,691,224$4,911,539$3,102,246$9,526,843
84$21,632,326$5,084,801$3,138,768$10,244,668
85$23,769,296$5,264,430$3,174,390$11,028,161
86$26,122,048$5,450,671$3,209,016$11,883,789
87$28,712,522$5,643,778$3,242,542$12,818,673
88$31,564,893$5,844,018$3,274,862$13,840,649
89$34,705,803$6,051,665$3,305,860$14,958,349
90$38,164,606$6,267,008$3,335,418$16,181,273
91$41,973,650$6,490,346$3,363,409$17,519,885
92$46,168,578$6,721,989$3,389,699$18,985,705
93$50,788,668$6,962,261$3,414,148$20,591,421
94$55,877,200$7,211,500$3,436,610$22,351,004
95$61,481,867$7,470,056$3,456,930$24,279,840
96$67,655,224$7,738,295$3,474,943$26,394,877
97$74,455,183$8,016,597$3,490,479$28,714,778
98$81,945,560$8,305,359$3,503,359$31,260,101
99$90,196,678$8,604,992$3,513,392$34,053,489
100$99,286,029$8,915,926$3,520,380$37,119,882