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%17.6%
1 years$184,977$183,329$181,722$180,153$178,621$173,111
2 years$91,573$89,867$88,215$86,612$85,057$79,555
3 years$60,442$58,729$57,081$55,493$53,964$48,641
4 years$44,880$43,172$41,540$39,980$38,488$33,385
5 years$35,545$33,848$32,237$30,708$29,258$24,389
6 years$29,324$27,639$26,052$24,558$23,151$18,520
7 years$24,882$23,211$21,649$20,190$18,828$14,435
8 years$21,552$19,896$18,360$16,937$15,619$11,462
9 years$18,963$17,323$15,814$14,427$13,154$9,227
10 years$16,893$15,270$13,787$12,436$11,208$7,506
11 years$15,201$13,594$12,138$10,823$9,639$6,156
12 years$13,792$12,201$10,772$9,493$8,353$5,081
13 years$12,600$11,026$9,624$8,381$7,284$4,215
14 years$11,580$10,022$8,647$7,440$6,385$3,512
15 years$10,696$9,156$7,807$6,635$5,622$2,935
16 years$9,924$8,400$7,078$5,941$4,969$2,461
17 years$9,243$7,736$6,441$5,338$4,406$2,067
18 years$8,639$7,149$5,880$4,810$3,917$1,740
19 years$8,099$6,625$5,383$4,347$3,491$1,467
20 years$7,613$6,157$4,940$3,937$3,119$1,239
21 years$7,174$5,735$4,544$3,573$2,791$1,047
22 years$6,776$5,353$4,188$3,249$2,502$886
23 years$6,413$5,007$3,867$2,959$2,246$750
24 years$6,080$4,691$3,576$2,698$2,018$635
25 years$5,775$4,402$3,312$2,464$1,816$539
26 years$5,494$4,137$3,072$2,253$1,636$457
27 years$5,234$3,894$2,853$2,062$1,475$388
28 years$4,992$3,669$2,652$1,890$1,331$329
29 years$4,768$3,461$2,468$1,733$1,202$279
30 years$4,560$3,269$2,299$1,590$1,086$237
31 years$4,365$3,090$2,143$1,461$982$201
32 years$4,182$2,924$1,999$1,342$888$171
33 years$4,012$2,769$1,867$1,234$804$145
34 years$3,851$2,624$1,744$1,136$728$124
35 years$3,700$2,489$1,631$1,045$659$105
36 years$3,558$2,363$1,526$963$597$89
37 years$3,423$2,244$1,428$887$541$76
38 years$3,296$2,132$1,337$818$491$64
39 years$3,176$2,028$1,253$754$445$55
40 years$3,062$1,929$1,174$695$404$47
41 years$2,954$1,836$1,101$642$366$40
42 years$2,852$1,749$1,033$592$332$34
43 years$2,754$1,666$969$547$302$29
44 years$2,661$1,588$910$505$274$24
45 years$2,573$1,515$854$466$248$21
46 years$2,489$1,445$802$431$226$18
47 years$2,408$1,379$754$398$205$15
48 years$2,331$1,316$708$368$186$13
49 years$2,257$1,257$666$340$169$11
50 years$2,187$1,201$626$314$153$9

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 $2,363 every year, while hoping to spend $21,315 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: 67/28/5 Blend
58$2,240,000$2,240,000$2,240,000$2,240,000
59$2,470,917$2,352,197$2,317,477$2,634,816
60$2,700,272$2,444,776$2,372,434$2,836,293
61$2,952,306$2,541,177$2,428,517$3,053,653
62$3,229,311$2,641,564$2,485,742$3,290,681
63$3,533,811$2,746,110$2,544,124$3,549,293
64$3,868,585$2,854,995$2,603,678$3,831,595
65$4,236,698$2,968,407$2,664,418$4,139,905
66$4,641,523$3,086,542$2,726,358$4,476,773
67$5,086,781$3,209,604$2,789,514$4,845,006
68$5,576,567$3,337,809$2,853,897$5,247,693
69$6,115,396$3,471,381$2,919,521$5,688,232
70$6,708,241$3,610,553$2,986,400$6,170,366
71$7,360,581$3,755,571$3,054,545$6,698,213
72$8,078,456$3,906,689$3,123,967$7,276,306
73$8,868,518$4,064,176$3,194,679$7,909,638
74$9,738,097$4,228,311$3,266,691$8,603,704
75$10,695,270$4,399,385$3,340,012$9,364,552
76$11,748,937$4,577,704$3,414,652$10,198,845
77$12,908,904$4,763,588$3,490,619$11,113,917
78$14,185,979$4,957,370$3,567,921$12,117,845
79$15,592,066$5,159,398$3,646,564$13,219,524
80$17,140,286$5,370,038$3,726,553$14,428,747
81$18,845,096$5,589,671$3,807,894$15,756,302
82$20,722,427$5,818,696$3,890,589$17,214,067
83$22,789,832$6,057,530$3,974,641$18,815,127
84$25,066,655$6,306,608$4,060,051$20,573,891
85$27,574,209$6,566,388$4,146,819$22,506,231
86$30,335,983$6,837,345$4,234,942$24,629,629
87$33,377,858$7,119,980$4,324,417$26,963,340
88$36,728,354$7,414,813$4,415,239$29,528,575
89$40,418,898$7,722,391$4,507,402$32,348,698
90$44,484,121$8,043,284$4,600,895$35,449,445
91$48,962,186$8,378,089$4,695,710$38,859,170
92$53,895,144$8,727,431$4,791,832$42,609,103
93$59,329,337$9,091,963$4,889,246$46,733,651
94$65,315,830$9,472,370$4,987,937$51,270,718
95$71,910,895$9,869,366$5,087,882$56,262,060
96$79,176,541$10,283,700$5,189,061$61,753,680
97$87,181,101$10,716,154$5,291,447$67,796,261
98$95,999,875$11,167,547$5,395,013$74,445,638
99$105,715,843$11,638,738$5,499,727$81,763,330
100$116,420,445$12,130,622$5,605,554$89,817,111