Can I retire at age 59 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$170,939$169,416$167,930$166,481$165,065$163,750
2 years$84,623$83,047$81,520$80,039$78,602$77,277
3 years$55,855$54,272$52,749$51,282$49,868$48,574
4 years$41,474$39,896$38,387$36,945$35,567$34,312
5 years$32,847$31,279$29,790$28,378$27,037$25,827
6 years$27,098$25,541$24,075$22,694$21,394$20,229
7 years$22,993$21,450$20,006$18,658$17,399$16,281
8 years$19,916$18,386$16,967$15,652$14,434$13,362
9 years$17,524$16,009$14,614$13,332$12,155$11,129
10 years$15,611$14,111$12,741$11,492$10,357$9,376
11 years$14,047$12,562$11,217$10,002$8,907$7,971
12 years$12,745$11,275$9,954$8,773$7,719$6,827
13 years$11,644$10,189$8,894$7,745$6,731$5,882
14 years$10,701$9,262$7,991$6,875$5,900$5,093
15 years$9,885$8,461$7,215$6,131$5,195$4,428
16 years$9,171$7,763$6,541$5,490$4,592$3,864
17 years$8,542$7,149$5,952$4,933$4,071$3,382
18 years$7,983$6,606$5,434$4,445$3,620$2,967
19 years$7,484$6,122$4,974$4,017$3,226$2,609
20 years$7,035$5,689$4,565$3,638$2,882$2,299
21 years$6,630$5,299$4,199$3,302$2,579$2,029
22 years$6,262$4,947$3,870$3,002$2,312$1,794
23 years$5,926$4,627$3,573$2,734$2,075$1,587
24 years$5,619$4,335$3,305$2,494$1,865$1,406
25 years$5,337$4,068$3,061$2,277$1,678$1,247
26 years$5,077$3,823$2,839$2,082$1,512$1,107
27 years$4,836$3,598$2,636$1,906$1,363$983
28 years$4,614$3,391$2,451$1,746$1,230$874
29 years$4,407$3,199$2,280$1,601$1,111$777
30 years$4,214$3,021$2,124$1,470$1,003$692
31 years$4,034$2,856$1,980$1,350$907$616
32 years$3,865$2,702$1,848$1,240$821$549
33 years$3,707$2,559$1,725$1,141$743$489
34 years$3,559$2,425$1,612$1,050$672$436
35 years$3,419$2,300$1,507$966$609$388
36 years$3,288$2,183$1,410$890$552$346
37 years$3,164$2,074$1,320$820$500$309
38 years$3,046$1,971$1,236$756$453$276
39 years$2,935$1,874$1,158$697$411$246
40 years$2,830$1,783$1,085$643$373$219
41 years$2,730$1,697$1,017$593$338$196
42 years$2,635$1,616$954$547$307$175
43 years$2,545$1,540$896$505$279$156
44 years$2,459$1,468$841$466$253$139
45 years$2,378$1,400$789$431$230$124
46 years$2,300$1,335$741$398$208$111
47 years$2,225$1,274$697$368$189$99
48 years$2,154$1,217$655$340$172$89
49 years$2,086$1,162$615$314$156$79
50 years$2,021$1,110$578$290$142$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,070,000, adding $3,723 every year, while hoping to spend $21,818 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: 76/11/13 Blend
58$2,070,000$2,070,000$2,070,000$2,070,000
59$2,284,980$2,175,270$2,143,185$2,452,334
60$2,494,834$2,258,644$2,191,768$2,646,599
61$2,725,362$2,345,372$2,241,247$2,856,390
62$2,978,649$2,435,596$2,291,629$3,085,769
63$3,256,993$2,529,462$2,342,920$3,336,678
64$3,562,926$2,627,126$2,395,128$3,611,257
65$3,899,237$2,728,747$2,448,257$3,911,860
66$4,268,997$2,834,493$2,502,311$4,241,081
67$4,675,592$2,944,541$2,557,296$4,601,775
68$5,122,751$3,059,072$2,613,214$4,997,087
69$5,614,583$3,178,278$2,670,068$5,430,482
70$6,155,615$3,302,358$2,727,860$5,905,774
71$6,750,835$3,431,521$2,786,591$6,427,165
72$7,405,739$3,565,985$2,846,261$6,999,282
73$8,126,383$3,705,976$2,906,869$7,627,225
74$8,919,438$3,851,733$2,968,412$8,316,607
75$9,792,255$4,003,503$3,030,889$9,073,615
76$10,752,936$4,161,545$3,094,294$9,905,061
77$11,810,405$4,326,130$3,158,623$10,818,451
78$12,974,496$4,497,541$3,223,867$11,822,054
79$14,256,048$4,676,073$3,290,019$12,924,979
80$15,666,999$4,862,035$3,357,069$14,137,261
81$17,220,507$5,055,749$3,425,006$15,469,954
82$18,931,071$5,257,553$3,493,815$16,935,239
83$20,814,666$5,467,799$3,563,484$18,546,534
84$22,888,895$5,686,854$3,633,993$20,318,623
85$25,173,156$5,915,103$3,705,326$22,267,793
86$27,688,824$6,152,949$3,777,460$24,411,991
87$30,459,452$6,400,812$3,850,373$26,770,987
88$33,510,995$6,659,131$3,924,040$29,366,568
89$36,872,053$6,928,364$3,998,431$32,222,734
90$40,574,141$7,208,993$4,073,517$35,365,934
91$44,651,987$7,501,518$4,149,265$38,825,305
92$49,143,862$7,806,464$4,225,637$42,632,956
93$54,091,935$8,124,380$4,302,595$46,824,262
94$59,542,677$8,455,839$4,380,096$51,438,205
95$65,547,295$8,801,440$4,458,095$56,517,734
96$72,162,219$9,161,811$4,536,541$62,110,177
97$79,449,633$9,537,606$4,615,382$68,267,682
98$87,478,058$9,929,512$4,694,560$75,047,710
99$96,323,007$10,338,245$4,774,014$82,513,578
100$106,067,689$10,764,555$4,853,680$90,735,053