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

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$170,939$169,416$167,930$166,481$165,065$162,665
2 years$84,623$83,047$81,520$80,039$78,602$76,190
3 years$55,855$54,272$52,749$51,282$49,868$47,518
4 years$41,474$39,896$38,387$36,945$35,567$33,296
5 years$32,847$31,279$29,790$28,378$27,037$24,854
6 years$27,098$25,541$24,075$22,694$21,394$19,300
7 years$22,993$21,450$20,006$18,658$17,399$15,395
8 years$19,916$18,386$16,967$15,652$14,434$12,520
9 years$17,524$16,009$14,614$13,332$12,155$10,330
10 years$15,611$14,111$12,741$11,492$10,357$8,619
11 years$14,047$12,562$11,217$10,002$8,907$7,255
12 years$12,745$11,275$9,954$8,773$7,719$6,151
13 years$11,644$10,189$8,894$7,745$6,731$5,244
14 years$10,701$9,262$7,991$6,875$5,900$4,493
15 years$9,885$8,461$7,215$6,131$5,195$3,864
16 years$9,171$7,763$6,541$5,490$4,592$3,335
17 years$8,542$7,149$5,952$4,933$4,071$2,886
18 years$7,983$6,606$5,434$4,445$3,620$2,504
19 years$7,484$6,122$4,974$4,017$3,226$2,176
20 years$7,035$5,689$4,565$3,638$2,882$1,895
21 years$6,630$5,299$4,199$3,302$2,579$1,653
22 years$6,262$4,947$3,870$3,002$2,312$1,443
23 years$5,926$4,627$3,573$2,734$2,075$1,262
24 years$5,619$4,335$3,305$2,494$1,865$1,104
25 years$5,337$4,068$3,061$2,277$1,678$967
26 years$5,077$3,823$2,839$2,082$1,512$848
27 years$4,836$3,598$2,636$1,906$1,363$743
28 years$4,614$3,391$2,451$1,746$1,230$652
29 years$4,407$3,199$2,280$1,601$1,111$573
30 years$4,214$3,021$2,124$1,470$1,003$503
31 years$4,034$2,856$1,980$1,350$907$442
32 years$3,865$2,702$1,848$1,240$821$388
33 years$3,707$2,559$1,725$1,141$743$342
34 years$3,559$2,425$1,612$1,050$672$300
35 years$3,419$2,300$1,507$966$609$264
36 years$3,288$2,183$1,410$890$552$232
37 years$3,164$2,074$1,320$820$500$205
38 years$3,046$1,971$1,236$756$453$180
39 years$2,935$1,874$1,158$697$411$158
40 years$2,830$1,783$1,085$643$373$139
41 years$2,730$1,697$1,017$593$338$123
42 years$2,635$1,616$954$547$307$108
43 years$2,545$1,540$896$505$279$95
44 years$2,459$1,468$841$466$253$84
45 years$2,378$1,400$789$431$230$74
46 years$2,300$1,335$741$398$208$65
47 years$2,225$1,274$697$368$189$57
48 years$2,154$1,217$655$340$172$50
49 years$2,086$1,162$615$314$156$44
50 years$2,021$1,110$578$290$142$39

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 $2,705 every year, while hoping to spend $35,003 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: 40/32/28 Blend
58$2,070,000$2,070,000$2,070,000$2,070,000
59$2,283,930$2,174,220$2,142,135$2,356,306
60$2,479,648$2,243,514$2,176,654$2,478,465
61$2,694,156$2,315,030$2,211,156$2,607,088
62$2,929,334$2,388,840$2,245,603$2,745,579
63$3,187,252$2,465,019$2,279,956$2,894,864
64$3,470,189$2,543,643$2,314,173$3,055,962
65$3,780,659$2,624,792$2,348,208$3,229,993
66$4,121,426$2,708,547$2,382,013$3,418,191
67$4,495,538$2,794,992$2,415,537$3,621,912
68$4,906,352$2,884,216$2,448,727$3,842,650
69$5,357,566$2,976,309$2,481,525$4,082,049
70$5,853,253$3,071,363$2,513,871$4,341,918
71$6,397,900$3,169,475$2,545,701$4,624,248
72$6,996,451$3,270,744$2,576,947$4,931,234
73$7,654,352$3,375,273$2,607,538$5,265,290
74$8,377,603$3,483,169$2,637,398$5,629,074
75$9,172,814$3,594,541$2,666,447$6,025,514
76$10,047,270$3,709,501$2,694,601$6,457,834
77$11,008,992$3,828,168$2,721,771$6,929,585
78$12,066,823$3,950,662$2,747,864$7,444,677
79$13,230,503$4,077,108$2,772,781$8,007,418
80$14,510,763$4,207,635$2,796,418$8,622,551
81$15,919,428$4,342,376$2,818,665$9,295,302
82$17,469,526$4,481,470$2,839,407$10,031,427
83$19,175,414$4,625,058$2,858,524$10,837,267
84$21,052,908$4,773,287$2,875,886$11,719,806
85$23,119,437$4,926,311$2,891,361$12,686,740
86$25,394,205$5,084,285$2,904,806$13,746,545
87$27,898,371$5,247,373$2,916,075$14,908,561
88$30,655,252$5,415,741$2,925,011$16,183,076
89$33,690,540$5,589,564$2,931,450$17,581,427
90$37,032,542$5,769,020$2,935,221$19,116,103
91$40,712,455$5,954,295$2,936,144$20,800,864
92$44,764,650$6,145,580$2,934,030$22,650,873
93$49,227,004$6,343,074$2,928,679$24,682,833
94$54,141,253$6,546,979$2,919,885$26,915,152
95$59,553,389$6,757,509$2,907,429$29,368,109
96$65,514,088$6,974,881$2,891,082$32,064,051
97$72,079,196$7,199,321$2,870,604$35,027,601
98$79,310,250$7,431,063$2,845,744$38,285,889
99$87,275,058$7,670,348$2,816,240$41,868,813
100$96,048,344$7,917,425$2,781,814$45,809,314