Can I retire at age 59 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$175,068$173,508$171,987$170,502$169,052$167,356
2 years$86,667$85,053$83,489$81,972$80,501$78,793
3 years$57,204$55,583$54,023$52,520$51,073$49,406
4 years$42,476$40,859$39,315$37,838$36,426$34,812
5 years$33,641$32,034$30,510$29,063$27,690$26,135
6 years$27,753$26,158$24,656$23,242$21,910$20,415
7 years$23,549$21,968$20,490$19,109$17,819$16,385
8 years$20,397$18,830$17,377$16,030$14,783$13,409
9 years$17,947$16,395$14,967$13,654$12,449$11,136
10 years$15,988$14,452$13,048$11,770$10,607$9,354
11 years$14,387$12,865$11,488$10,243$9,123$7,928
12 years$13,053$11,547$10,195$8,985$7,905$6,768
13 years$11,925$10,435$9,108$7,932$6,894$5,812
14 years$10,960$9,486$8,184$7,041$6,043$5,016
15 years$10,123$8,665$7,389$6,280$5,321$4,347
16 years$9,392$7,950$6,699$5,623$4,702$3,780
17 years$8,748$7,322$6,096$5,052$4,170$3,297
18 years$8,176$6,766$5,565$4,553$3,707$2,882
19 years$7,665$6,270$5,094$4,114$3,304$2,526
20 years$7,205$5,827$4,675$3,726$2,952$2,217
21 years$6,790$5,427$4,300$3,381$2,641$1,950
22 years$6,413$5,066$3,964$3,075$2,368$1,717
23 years$6,069$4,738$3,660$2,800$2,125$1,514
24 years$5,755$4,440$3,385$2,554$1,910$1,336
25 years$5,466$4,166$3,135$2,332$1,719$1,180
26 years$5,199$3,916$2,907$2,132$1,548$1,043
27 years$4,953$3,685$2,700$1,952$1,396$923
28 years$4,725$3,472$2,510$1,788$1,260$817
29 years$4,513$3,276$2,336$1,640$1,137$724
30 years$4,315$3,094$2,175$1,505$1,028$642
31 years$4,131$2,925$2,028$1,382$929$569
32 years$3,958$2,767$1,892$1,270$840$505
33 years$3,797$2,621$1,767$1,168$761$448
34 years$3,645$2,484$1,651$1,075$689$397
35 years$3,502$2,356$1,543$989$624$353
36 years$3,367$2,236$1,444$911$565$313
37 years$3,240$2,124$1,351$840$512$278
38 years$3,120$2,018$1,266$774$464$247
39 years$3,006$1,919$1,186$714$421$220
40 years$2,898$1,826$1,111$658$382$195
41 years$2,796$1,738$1,042$607$347$173
42 years$2,699$1,655$977$560$314$154
43 years$2,607$1,577$917$517$285$137
44 years$2,519$1,503$861$478$259$122
45 years$2,435$1,434$808$441$235$108
46 years$2,355$1,368$759$407$214$96
47 years$2,279$1,305$713$376$194$86
48 years$2,206$1,246$670$348$176$76
49 years$2,137$1,190$630$321$160$68
50 years$2,070$1,137$592$297$145$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,120,000, adding $2,215 every year, while hoping to spend $24,423 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: 71/12/17 Blend
58$2,120,000$2,120,000$2,120,000$2,120,000
59$2,338,525$2,226,165$2,193,305$2,495,099
60$2,551,068$2,309,261$2,240,795$2,682,576
61$2,784,473$2,395,610$2,289,057$2,884,614
62$3,040,840$2,485,346$2,338,091$3,105,183
63$3,322,486$2,578,609$2,387,898$3,346,112
64$3,631,962$2,675,542$2,438,474$3,609,416
65$3,972,077$2,776,299$2,489,818$3,897,311
66$4,345,929$2,881,037$2,541,927$4,212,239
67$4,756,927$2,989,922$2,594,795$4,556,890
68$5,208,830$3,103,124$2,648,417$4,934,225
69$5,705,778$3,220,825$2,702,786$5,347,503
70$6,252,332$3,343,210$2,757,894$5,800,318
71$6,853,519$3,470,476$2,813,733$6,296,623
72$7,514,876$3,602,827$2,870,291$6,840,775
73$8,242,503$3,740,476$2,927,555$7,437,574
74$9,043,123$3,883,644$2,985,514$8,092,303
75$9,924,143$4,032,564$3,044,150$8,810,785
76$10,893,724$4,187,478$3,103,447$9,599,432
77$11,960,857$4,348,638$3,163,386$10,465,309
78$13,135,451$4,516,308$3,223,946$11,416,198
79$14,428,423$4,690,763$3,285,104$12,460,671
80$15,851,803$4,872,291$3,346,835$13,608,173
81$17,418,845$5,061,192$3,409,113$14,869,106
82$19,144,156$5,257,778$3,471,907$16,254,935
83$21,043,829$5,462,379$3,535,184$17,778,286
84$23,135,598$5,675,334$3,598,912$19,453,071
85$25,439,005$5,897,000$3,663,051$21,294,619
86$27,975,581$6,127,751$3,727,561$23,319,818
87$30,769,055$6,367,976$3,792,399$25,547,273
88$33,845,572$6,618,080$3,857,518$27,997,485
89$37,233,943$6,878,489$3,922,868$30,693,040
90$40,965,916$7,149,646$3,988,394$33,658,825
91$45,076,475$7,432,014$4,054,041$36,922,261
92$49,604,170$7,726,077$4,119,746$40,513,561
93$54,591,481$8,032,341$4,185,443$44,466,013
94$60,085,221$8,351,334$4,251,064$48,816,300
95$66,136,972$8,683,607$4,316,533$53,604,838
96$72,803,578$9,029,739$4,381,771$58,876,160
97$80,147,677$9,390,331$4,446,696$64,679,339
98$88,238,297$9,766,013$4,511,216$71,068,445
99$97,151,499$10,157,444$4,575,238$78,103,058
100$106,971,104$10,565,311$4,638,661$85,848,829