Can I retire at age 59 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$184,977$183,329$181,722$180,153$178,621$173,529
2 years$91,573$89,867$88,215$86,612$85,057$79,967
3 years$60,442$58,729$57,081$55,493$53,964$49,035
4 years$44,880$43,172$41,540$39,980$38,488$33,757
5 years$35,545$33,848$32,237$30,708$29,258$24,739
6 years$29,324$27,639$26,052$24,558$23,151$18,848
7 years$24,882$23,211$21,649$20,190$18,828$14,741
8 years$21,552$19,896$18,360$16,937$15,619$11,746
9 years$18,963$17,323$15,814$14,427$13,154$9,490
10 years$16,893$15,270$13,787$12,436$11,208$7,749
11 years$15,201$13,594$12,138$10,823$9,639$6,380
12 years$13,792$12,201$10,772$9,493$8,353$5,287
13 years$12,600$11,026$9,624$8,381$7,284$4,404
14 years$11,580$10,022$8,647$7,440$6,385$3,684
15 years$10,696$9,156$7,807$6,635$5,622$3,093
16 years$9,924$8,400$7,078$5,941$4,969$2,604
17 years$9,243$7,736$6,441$5,338$4,406$2,197
18 years$8,639$7,149$5,880$4,810$3,917$1,858
19 years$8,099$6,625$5,383$4,347$3,491$1,573
20 years$7,613$6,157$4,940$3,937$3,119$1,335
21 years$7,174$5,735$4,544$3,573$2,791$1,133
22 years$6,776$5,353$4,188$3,249$2,502$963
23 years$6,413$5,007$3,867$2,959$2,246$819
24 years$6,080$4,691$3,576$2,698$2,018$697
25 years$5,775$4,402$3,312$2,464$1,816$594
26 years$5,494$4,137$3,072$2,253$1,636$506
27 years$5,234$3,894$2,853$2,062$1,475$432
28 years$4,992$3,669$2,652$1,890$1,331$368
29 years$4,768$3,461$2,468$1,733$1,202$314
30 years$4,560$3,269$2,299$1,590$1,086$268
31 years$4,365$3,090$2,143$1,461$982$229
32 years$4,182$2,924$1,999$1,342$888$195
33 years$4,012$2,769$1,867$1,234$804$167
34 years$3,851$2,624$1,744$1,136$728$142
35 years$3,700$2,489$1,631$1,045$659$122
36 years$3,558$2,363$1,526$963$597$104
37 years$3,423$2,244$1,428$887$541$89
38 years$3,296$2,132$1,337$818$491$76
39 years$3,176$2,028$1,253$754$445$65
40 years$3,062$1,929$1,174$695$404$55
41 years$2,954$1,836$1,101$642$366$47
42 years$2,852$1,749$1,033$592$332$40
43 years$2,754$1,666$969$547$302$35
44 years$2,661$1,588$910$505$274$30
45 years$2,573$1,515$854$466$248$25
46 years$2,489$1,445$802$431$226$22
47 years$2,408$1,379$754$398$205$18
48 years$2,331$1,316$708$368$186$16
49 years$2,257$1,257$666$340$169$13
50 years$2,187$1,201$626$314$153$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,240,000, adding $3,938 every year, while hoping to spend $58,325 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: 57/32/11 Blend
58$2,240,000$2,240,000$2,240,000$2,240,000
59$2,472,542$2,353,822$2,319,102$2,606,566
60$2,662,684$2,407,102$2,334,735$2,750,788
61$2,870,266$2,461,038$2,348,936$2,901,050
62$3,097,004$2,515,600$2,361,597$3,063,385
63$3,344,790$2,570,756$2,372,602$3,238,956
64$3,615,705$2,626,469$2,381,830$3,429,045
65$3,912,040$2,682,699$2,389,155$3,635,065
66$4,236,318$2,739,402$2,394,442$3,858,569
67$4,591,319$2,796,529$2,397,551$4,101,271
68$4,980,100$2,854,026$2,398,337$4,365,059
69$5,406,032$2,911,835$2,396,643$4,652,011
70$5,872,825$2,969,892$2,392,308$4,964,418
71$6,384,565$3,028,129$2,385,162$5,304,806
72$6,945,753$3,086,470$2,375,027$5,675,955
73$7,561,346$3,144,833$2,361,717$6,080,932
74$8,236,804$3,203,130$2,345,035$6,523,113
75$8,978,141$3,261,267$2,324,777$7,006,223
76$9,791,982$3,319,139$2,300,727$7,534,362
77$10,685,624$3,376,636$2,272,661$8,112,053
78$11,667,105$3,433,639$2,240,342$8,744,278
79$12,745,281$3,490,018$2,203,525$9,436,528
80$13,929,907$3,545,637$2,161,951$10,194,856
81$15,231,730$3,600,346$2,115,349$11,025,932
82$16,662,590$3,653,986$2,063,436$11,937,107
83$18,235,530$3,706,387$2,005,917$12,936,484
84$19,964,920$3,757,366$1,942,482$14,032,993
85$21,866,593$3,806,729$1,872,806$15,236,478
86$23,957,993$3,854,265$1,796,552$16,557,787
87$26,258,337$3,899,753$1,713,365$18,008,877
88$28,788,800$3,942,953$1,622,875$19,602,926
89$31,572,711$3,983,612$1,524,696$21,354,460
90$34,635,776$4,021,457$1,418,422$23,279,488
91$38,006,318$4,056,201$1,303,631$25,395,657
92$41,715,542$4,087,534$1,179,882$27,722,415
93$45,797,833$4,115,129$1,046,714$30,281,198
94$50,291,077$4,138,637$903,645$33,095,632
95$55,237,022$4,157,684$750,171$36,191,759
96$60,681,665$4,171,878$585,769$39,598,280
97$66,675,691$4,180,796$409,888$43,346,829
98$73,274,950$4,183,993$221,958$47,472,273
99$80,540,980$4,180,994$21,379$52,013,040
100$88,541,593$4,171,296$0$57,011,486