Can I retire at age 59 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$191,583$189,877$188,212$186,587$185,000$179,150
2 years$94,843$93,077$91,365$89,705$88,095$82,254
3 years$62,601$60,827$59,119$57,475$55,891$50,243
4 years$46,483$44,714$43,024$41,408$39,862$34,449
5 years$36,814$35,056$33,388$31,805$30,303$25,140
6 years$30,371$28,626$26,983$25,435$23,977$19,070
7 years$25,770$24,040$22,423$20,911$19,500$14,847
8 years$22,321$20,607$19,016$17,542$16,177$11,775
9 years$19,640$17,942$16,379$14,942$13,624$9,467
10 years$17,497$15,815$14,279$12,880$11,608$7,692
11 years$15,744$14,079$12,571$11,209$9,983$6,300
12 years$14,284$12,637$11,157$9,832$8,651$5,193
13 years$13,050$11,420$9,968$8,680$7,544$4,302
14 years$11,994$10,380$8,956$7,705$6,613$3,579
15 years$11,078$9,483$8,086$6,872$5,823$2,988
16 years$10,278$8,700$7,331$6,153$5,146$2,501
17 years$9,573$8,013$6,671$5,528$4,563$2,098
18 years$8,947$7,404$6,090$4,982$4,057$1,764
19 years$8,388$6,862$5,575$4,502$3,616$1,485
20 years$7,885$6,376$5,116$4,077$3,230$1,252
21 years$7,431$5,939$4,706$3,700$2,891$1,056
22 years$7,018$5,544$4,337$3,365$2,591$892
23 years$6,642$5,185$4,005$3,064$2,326$754
24 years$6,298$4,858$3,704$2,795$2,090$638
25 years$5,981$4,559$3,430$2,552$1,881$540
26 years$5,690$4,285$3,182$2,334$1,694$457
27 years$5,420$4,033$2,954$2,136$1,528$387
28 years$5,171$3,800$2,746$1,957$1,378$328
29 years$4,939$3,585$2,556$1,795$1,245$278
30 years$4,723$3,386$2,381$1,647$1,125$236
31 years$4,521$3,200$2,219$1,513$1,017$200
32 years$4,332$3,028$2,071$1,390$920$170
33 years$4,155$2,868$1,933$1,278$832$144
34 years$3,989$2,718$1,807$1,176$754$122
35 years$3,832$2,578$1,689$1,083$683$104
36 years$3,685$2,447$1,580$997$618$88
37 years$3,546$2,324$1,479$919$561$75
38 years$3,414$2,209$1,385$847$508$63
39 years$3,290$2,100$1,297$781$461$54
40 years$3,172$1,998$1,216$720$418$46
41 years$3,060$1,902$1,140$665$379$39
42 years$2,954$1,811$1,070$613$344$33
43 years$2,853$1,726$1,004$566$312$28
44 years$2,756$1,645$942$523$283$24
45 years$2,665$1,569$885$483$257$20
46 years$2,577$1,497$831$446$234$17
47 years$2,494$1,428$781$412$212$14
48 years$2,414$1,363$734$381$193$12
49 years$2,338$1,302$690$352$175$10
50 years$2,265$1,244$648$325$159$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,320,000, adding $6,911 every year, while hoping to spend $40,191 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: 69/19/12 Blend
58$2,320,000$2,320,000$2,320,000$2,320,000
59$2,563,769$2,440,809$2,404,849$2,733,569
60$2,782,510$2,517,645$2,442,648$2,924,074
61$3,022,216$2,596,900$2,480,367$3,126,929
62$3,284,983$2,678,649$2,517,960$3,347,803
63$3,573,119$2,762,970$2,555,379$3,588,462
64$3,889,166$2,849,944$2,592,573$3,850,850
65$4,235,925$2,939,656$2,629,488$4,137,104
66$4,616,480$3,032,190$2,666,067$4,449,582
67$5,034,229$3,127,636$2,702,249$4,790,877
68$5,492,916$3,226,085$2,737,969$5,163,845
69$5,996,662$3,327,631$2,773,160$5,571,631
70$6,550,009$3,432,373$2,807,748$6,017,700
71$7,157,961$3,540,410$2,841,659$6,505,867
72$7,826,029$3,651,847$2,874,811$7,040,333
73$8,560,286$3,766,789$2,907,119$7,625,727
74$9,367,421$3,885,348$2,938,493$8,267,146
75$10,254,804$4,007,636$2,968,839$8,970,206
76$11,230,556$4,133,772$2,998,057$9,741,091
77$12,303,622$4,263,876$3,026,041$10,586,615
78$13,483,858$4,398,073$3,052,680$11,514,285
79$14,782,124$4,536,491$3,077,857$12,532,368
80$16,210,385$4,679,263$3,101,450$13,649,975
81$17,781,824$4,826,527$3,123,328$14,877,140
82$19,510,966$4,978,423$3,143,356$16,224,919
83$21,413,816$5,135,097$3,161,389$17,705,494
84$23,508,007$5,296,699$3,177,278$19,332,285
85$25,812,971$5,463,383$3,190,863$21,120,077
86$28,350,115$5,635,311$3,201,979$23,085,161
87$31,143,032$5,812,646$3,210,450$25,245,487
88$34,217,713$5,995,558$3,216,093$27,620,830
89$37,602,803$6,184,223$3,218,714$30,232,981
90$41,329,860$6,378,821$3,218,112$33,105,948
91$45,433,661$6,579,539$3,214,075$36,266,187
92$49,952,527$6,786,569$3,206,379$39,742,846
93$54,928,684$7,000,110$3,194,792$43,568,044
94$60,408,660$7,220,365$3,179,067$47,777,171
95$66,443,726$7,447,546$3,158,949$52,409,223
96$73,090,382$7,681,871$3,134,169$57,507,171
97$80,410,882$7,923,564$3,104,445$63,118,362
98$88,473,829$8,172,856$3,069,481$69,294,971
99$97,354,819$8,429,986$3,028,969$76,094,490
100$107,137,156$8,695,200$2,982,584$83,580,268