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

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$175,068$173,508$171,987$170,502$169,052$168,198
2 years$86,667$85,053$83,489$81,972$80,501$79,639
3 years$57,204$55,583$54,023$52,520$51,073$50,230
4 years$42,476$40,859$39,315$37,838$36,426$35,608
5 years$33,641$32,034$30,510$29,063$27,690$26,900
6 years$27,753$26,158$24,656$23,242$21,910$21,149
7 years$23,549$21,968$20,490$19,109$17,819$17,087
8 years$20,397$18,830$17,377$16,030$14,783$14,080
9 years$17,947$16,395$14,967$13,654$12,449$11,775
10 years$15,988$14,452$13,048$11,770$10,607$9,962
11 years$14,387$12,865$11,488$10,243$9,123$8,506
12 years$13,053$11,547$10,195$8,985$7,905$7,316
13 years$11,925$10,435$9,108$7,932$6,894$6,332
14 years$10,960$9,486$8,184$7,041$6,043$5,508
15 years$10,123$8,665$7,389$6,280$5,321$4,811
16 years$9,392$7,950$6,699$5,623$4,702$4,218
17 years$8,748$7,322$6,096$5,052$4,170$3,710
18 years$8,176$6,766$5,565$4,553$3,707$3,271
19 years$7,665$6,270$5,094$4,114$3,304$2,891
20 years$7,205$5,827$4,675$3,726$2,952$2,560
21 years$6,790$5,427$4,300$3,381$2,641$2,271
22 years$6,413$5,066$3,964$3,075$2,368$2,018
23 years$6,069$4,738$3,660$2,800$2,125$1,795
24 years$5,755$4,440$3,385$2,554$1,910$1,599
25 years$5,466$4,166$3,135$2,332$1,719$1,426
26 years$5,199$3,916$2,907$2,132$1,548$1,273
27 years$4,953$3,685$2,700$1,952$1,396$1,137
28 years$4,725$3,472$2,510$1,788$1,260$1,016
29 years$4,513$3,276$2,336$1,640$1,137$909
30 years$4,315$3,094$2,175$1,505$1,028$813
31 years$4,131$2,925$2,028$1,382$929$728
32 years$3,958$2,767$1,892$1,270$840$652
33 years$3,797$2,621$1,767$1,168$761$585
34 years$3,645$2,484$1,651$1,075$689$524
35 years$3,502$2,356$1,543$989$624$470
36 years$3,367$2,236$1,444$911$565$422
37 years$3,240$2,124$1,351$840$512$378
38 years$3,120$2,018$1,266$774$464$339
39 years$3,006$1,919$1,186$714$421$305
40 years$2,898$1,826$1,111$658$382$274
41 years$2,796$1,738$1,042$607$347$246
42 years$2,699$1,655$977$560$314$221
43 years$2,607$1,577$917$517$285$198
44 years$2,519$1,503$861$478$259$178
45 years$2,435$1,434$808$441$235$160
46 years$2,355$1,368$759$407$214$144
47 years$2,279$1,305$713$376$194$129
48 years$2,206$1,246$670$348$176$116
49 years$2,137$1,190$630$321$160$104
50 years$2,070$1,137$592$297$145$94

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 $5,012 every year, while hoping to spend $41,102 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: 57/14/29 Blend
58$2,120,000$2,120,000$2,120,000$2,120,000
59$2,341,410$2,229,050$2,196,190$2,455,936
60$2,536,501$2,294,541$2,226,030$2,600,696
61$2,750,115$2,361,864$2,255,492$2,753,696
62$2,984,096$2,431,064$2,284,521$2,919,638
63$3,240,477$2,502,190$2,313,056$3,099,788
64$3,521,497$2,575,289$2,341,035$3,295,543
65$3,829,622$2,650,410$2,368,391$3,508,436
66$4,167,567$2,727,604$2,395,056$3,740,162
67$4,538,323$2,806,921$2,420,955$3,992,583
68$4,945,185$2,888,413$2,446,009$4,267,754
69$5,391,781$2,972,132$2,470,138$4,567,937
70$5,882,109$3,058,132$2,493,253$4,895,626
71$6,420,571$3,146,469$2,515,265$5,253,567
72$7,012,020$3,237,195$2,536,076$5,644,785
73$7,661,797$3,330,369$2,555,586$6,072,617
74$8,375,790$3,426,047$2,573,688$6,540,735
75$9,160,483$3,524,286$2,590,269$7,053,188
76$10,023,022$3,625,146$2,605,213$7,614,438
77$10,971,277$3,728,685$2,618,394$8,229,400
78$12,013,920$3,834,963$2,629,683$8,903,492
79$13,160,506$3,944,042$2,638,943$9,642,683
80$14,421,559$4,055,982$2,646,030$10,453,550
81$15,808,679$4,170,846$2,650,792$11,343,343
82$17,334,643$4,288,695$2,653,072$12,320,050
83$19,013,529$4,409,594$2,652,703$13,392,474
84$20,860,851$4,533,606$2,649,510$14,570,316
85$22,893,699$4,660,795$2,643,311$15,864,267
86$25,130,907$4,791,224$2,633,912$17,286,109
87$27,593,225$4,924,960$2,621,114$18,848,824
88$30,303,517$5,062,065$2,604,704$20,566,721
89$33,286,975$5,202,606$2,584,461$22,455,569
90$36,571,360$5,346,648$2,560,154$24,532,744
91$40,187,260$5,494,254$2,531,540$26,817,398
92$44,168,378$5,645,490$2,498,364$29,330,634
93$48,551,854$5,800,420$2,460,360$32,095,711
94$53,378,611$5,959,109$2,417,250$35,138,261
95$58,693,742$6,121,619$2,368,742$38,486,530
96$64,546,939$6,288,013$2,314,529$42,171,650
97$70,992,954$6,458,353$2,254,293$46,227,927
98$78,092,123$6,632,699$2,187,700$50,693,169
99$85,910,930$6,811,113$2,114,399$55,609,041
100$94,522,638$6,993,651$2,034,024$61,021,463