Can I retire at age 59 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$171,764$170,234$168,742$167,285$165,862$164,610
2 years$85,032$83,448$81,913$80,425$78,982$77,720
3 years$56,125$54,534$53,003$51,529$50,109$48,876
4 years$41,674$40,089$38,573$37,124$35,738$34,543
5 years$33,006$31,430$29,934$28,515$27,168$26,014
6 years$27,229$25,665$24,191$22,803$21,497$20,387
7 years$23,104$21,553$20,103$18,748$17,483$16,417
8 years$20,012$18,475$17,049$15,727$14,504$13,481
9 years$17,609$16,086$14,684$13,396$12,214$11,235
10 years$15,687$14,179$12,802$11,548$10,407$9,471
11 years$14,115$12,623$11,271$10,050$8,950$8,057
12 years$12,807$11,329$10,003$8,815$7,756$6,904
13 years$11,700$10,239$8,937$7,782$6,764$5,952
14 years$10,753$9,307$8,030$6,908$5,929$5,157
15 years$9,932$8,502$7,250$6,161$5,220$4,487
16 years$9,215$7,800$6,573$5,517$4,614$3,918
17 years$8,583$7,184$5,981$4,957$4,091$3,431
18 years$8,022$6,638$5,460$4,467$3,637$3,013
19 years$7,520$6,152$4,998$4,036$3,242$2,652
20 years$7,069$5,717$4,587$3,656$2,896$2,338
21 years$6,662$5,325$4,219$3,318$2,591$2,065
22 years$6,292$4,971$3,889$3,016$2,323$1,827
23 years$5,955$4,649$3,591$2,747$2,085$1,618
24 years$5,646$4,356$3,321$2,506$1,874$1,434
25 years$5,363$4,088$3,076$2,288$1,686$1,273
26 years$5,101$3,842$2,852$2,092$1,519$1,131
27 years$4,860$3,616$2,649$1,915$1,370$1,005
28 years$4,636$3,407$2,462$1,755$1,236$894
29 years$4,428$3,214$2,291$1,609$1,116$796
30 years$4,234$3,035$2,134$1,477$1,008$709
31 years$4,053$2,869$1,990$1,356$912$632
32 years$3,884$2,715$1,857$1,246$825$563
33 years$3,725$2,571$1,733$1,146$746$502
34 years$3,576$2,437$1,620$1,055$676$448
35 years$3,436$2,311$1,514$971$612$400
36 years$3,304$2,194$1,417$894$554$357
37 years$3,179$2,084$1,326$824$503$318
38 years$3,061$1,980$1,242$759$456$284
39 years$2,949$1,883$1,163$700$413$254
40 years$2,844$1,791$1,090$646$375$227
41 years$2,743$1,705$1,022$596$340$203
42 years$2,648$1,624$959$550$309$181
43 years$2,558$1,547$900$508$280$162
44 years$2,471$1,475$845$469$254$145
45 years$2,389$1,407$793$433$231$129
46 years$2,311$1,342$745$400$209$116
47 years$2,236$1,280$700$369$190$103
48 years$2,165$1,222$658$341$173$92
49 years$2,096$1,167$618$315$157$83
50 years$2,031$1,115$581$292$143$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,080,000, adding $6,870 every year, while hoping to spend $53,872 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: 31/44/25 Blend
58$2,080,000$2,080,000$2,080,000$2,080,000
59$2,299,246$2,189,006$2,156,766$2,352,645
60$2,476,450$2,238,948$2,171,699$2,444,055
61$2,669,923$2,289,532$2,185,326$2,537,128
62$2,881,268$2,340,732$2,197,547$2,636,232
63$3,112,249$2,392,519$2,208,256$2,741,928
64$3,364,808$2,444,862$2,217,342$2,854,836
65$3,641,084$2,497,726$2,224,689$2,975,642
66$3,943,432$2,551,072$2,230,174$3,105,099
67$4,274,445$2,604,857$2,233,667$3,244,041
68$4,636,978$2,659,035$2,235,034$3,393,387
69$5,034,175$2,713,553$2,234,133$3,554,151
70$5,469,499$2,768,355$2,230,815$3,727,450
71$5,946,764$2,823,381$2,224,923$3,914,520
72$6,470,170$2,878,563$2,216,295$4,116,723
73$7,044,344$2,933,829$2,204,758$4,335,562
74$7,674,382$2,989,102$2,190,132$4,572,694
75$8,365,897$3,044,295$2,172,229$4,829,951
76$9,125,071$3,099,318$2,150,851$5,109,349
77$9,958,715$3,154,071$2,125,791$5,413,118
78$10,874,331$3,208,449$2,096,833$5,743,716
79$11,880,185$3,262,335$2,063,749$6,103,854
80$12,985,382$3,315,607$2,026,302$6,496,524
81$14,199,951$3,368,131$1,984,243$6,925,028
82$15,534,943$3,419,767$1,937,312$7,393,008
83$17,002,531$3,470,360$1,885,237$7,904,483
84$18,616,130$3,519,748$1,827,733$8,463,885
85$20,390,514$3,567,755$1,764,501$9,076,104
86$22,341,965$3,614,194$1,695,230$9,746,537
87$24,488,421$3,658,864$1,619,595$10,481,134
88$26,849,643$3,701,551$1,537,255$11,286,460
89$29,447,407$3,742,028$1,447,854$12,169,756
90$32,305,705$3,780,050$1,351,019$13,139,010
91$35,450,971$3,815,356$1,246,362$14,203,033
92$38,912,331$3,847,670$1,133,477$15,371,542
93$42,721,880$3,876,697$1,011,939$16,655,255
94$46,914,978$3,902,121$881,305$18,065,993
95$51,530,589$3,923,608$741,112$19,616,792
96$56,611,646$3,940,802$590,877$21,322,031
97$62,205,456$3,953,324$430,094$23,197,565
98$68,364,148$3,960,772$258,236$25,260,881
99$75,145,158$3,962,717$74,754$27,531,262
100$82,611,779$3,958,705$0$30,029,971