Can I retire at age 59 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$183,326$181,693$180,099$178,544$177,026$175,984
2 years$90,755$89,065$87,427$85,839$84,298$83,247
3 years$59,902$58,205$56,571$54,998$53,482$52,454
4 years$44,479$42,787$41,169$39,623$38,144$37,147
5 years$35,228$33,545$31,949$30,434$28,996$28,034
6 years$29,062$27,392$25,820$24,338$22,944$22,017
7 years$24,659$23,004$21,456$20,010$18,660$17,768
8 years$21,359$19,719$18,197$16,786$15,480$14,625
9 years$18,794$17,169$15,673$14,298$13,036$12,217
10 years$16,742$15,133$13,664$12,325$11,108$10,323
11 years$15,065$13,472$12,029$10,726$9,553$8,803
12 years$13,669$12,092$10,676$9,408$8,278$7,563
13 years$12,488$10,928$9,538$8,306$7,219$6,537
14 years$11,477$9,933$8,570$7,373$6,328$5,678
15 years$10,601$9,074$7,738$6,576$5,572$4,954
16 years$9,835$8,325$7,015$5,888$4,924$4,337
17 years$9,161$7,667$6,384$5,290$4,366$3,809
18 years$8,562$7,085$5,827$4,768$3,882$3,354
19 years$8,026$6,566$5,335$4,308$3,460$2,960
20 years$7,545$6,102$4,896$3,902$3,091$2,618
21 years$7,110$5,683$4,503$3,541$2,766$2,319
22 years$6,715$5,305$4,150$3,220$2,479$2,057
23 years$6,356$4,962$3,832$2,932$2,226$1,828
24 years$6,026$4,649$3,544$2,674$2,000$1,625
25 years$5,724$4,363$3,283$2,442$1,800$1,447
26 years$5,445$4,100$3,044$2,233$1,621$1,289
27 years$5,187$3,859$2,827$2,044$1,462$1,150
28 years$4,948$3,636$2,628$1,873$1,319$1,026
29 years$4,726$3,430$2,446$1,717$1,191$916
30 years$4,519$3,240$2,278$1,576$1,076$819
31 years$4,326$3,062$2,124$1,448$973$732
32 years$4,145$2,898$1,982$1,330$880$655
33 years$3,976$2,744$1,850$1,223$797$586
34 years$3,817$2,601$1,729$1,126$721$524
35 years$3,667$2,467$1,616$1,036$653$469
36 years$3,526$2,341$1,512$954$592$420
37 years$3,393$2,224$1,415$879$536$376
38 years$3,267$2,113$1,325$810$486$337
39 years$3,148$2,010$1,242$747$441$302
40 years$3,035$1,912$1,164$689$400$271
41 years$2,928$1,820$1,091$636$363$243
42 years$2,826$1,733$1,024$587$329$218
43 years$2,730$1,652$960$542$299$195
44 years$2,638$1,574$902$500$271$175
45 years$2,550$1,501$847$462$246$157
46 years$2,466$1,432$795$427$224$141
47 years$2,387$1,367$747$394$203$126
48 years$2,310$1,305$702$364$184$113
49 years$2,237$1,246$660$337$167$102
50 years$2,167$1,190$620$311$152$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,220,000, adding $3,997 every year, while hoping to spend $56,957 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: 40/30/30 Blend
58$2,220,000$2,220,000$2,220,000$2,220,000
59$2,450,563$2,332,903$2,298,493$2,526,750
60$2,639,919$2,386,613$2,314,891$2,636,448
61$2,846,679$2,441,047$2,329,929$2,749,506
62$3,072,561$2,496,178$2,343,501$2,870,761
63$3,319,451$2,551,980$2,355,498$3,001,004
64$3,589,429$2,608,421$2,365,801$3,141,104
65$3,884,784$2,665,466$2,374,288$3,292,022
66$4,208,035$2,723,078$2,380,830$3,454,816
67$4,561,959$2,781,213$2,385,293$3,630,655
68$4,949,612$2,839,825$2,387,532$3,820,827
69$5,374,358$2,898,862$2,387,401$4,026,754
70$5,839,905$2,958,269$2,384,741$4,250,003
71$6,350,334$3,017,983$2,379,389$4,492,304
72$6,910,143$3,077,939$2,371,173$4,755,564
73$7,524,282$3,138,062$2,359,911$5,041,887
74$8,198,206$3,198,275$2,345,416$5,353,595
75$8,937,924$3,258,491$2,327,488$5,693,247
76$9,750,053$3,318,618$2,305,920$6,063,668
77$10,641,884$3,378,556$2,280,494$6,467,971
78$11,621,447$3,438,196$2,250,982$6,909,594
79$12,697,590$3,497,423$2,217,145$7,392,324
80$13,880,058$3,556,111$2,178,733$7,920,340
81$15,179,588$3,614,124$2,135,485$8,498,254
82$16,608,009$3,671,319$2,087,127$9,131,148
83$18,178,352$3,727,540$2,033,372$9,824,628
84$19,904,975$3,782,620$1,973,920$10,584,880
85$21,803,694$3,836,381$1,908,458$11,418,720
86$23,891,938$3,888,630$1,836,659$12,333,671
87$26,188,907$3,939,164$1,758,178$13,338,026
88$28,715,757$3,987,764$1,672,658$14,440,929
89$31,495,796$4,034,197$1,579,724$15,652,467
90$34,554,706$4,078,212$1,478,984$16,983,759
91$37,920,785$4,119,543$1,370,029$18,447,070
92$41,625,212$4,157,907$1,252,431$20,055,920
93$45,702,340$4,193,001$1,125,744$21,825,220
94$50,190,022$4,224,502$989,501$23,771,410
95$55,129,969$4,252,067$843,213$25,912,616
96$60,568,138$4,275,330$686,373$28,268,824
97$66,555,170$4,293,903$518,448$30,862,070
98$73,146,865$4,307,373$338,884$33,716,648
99$80,404,710$4,315,299$147,101$36,859,345
100$88,396,456$4,317,214$0$40,319,691