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

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$191,583$189,877$188,212$186,587$185,000$178,365
2 years$94,843$93,077$91,365$89,705$88,095$81,482
3 years$62,601$60,827$59,119$57,475$55,891$49,508
4 years$46,483$44,714$43,024$41,408$39,862$33,758
5 years$36,814$35,056$33,388$31,805$30,303$24,493
6 years$30,371$28,626$26,983$25,435$23,977$18,467
7 years$25,770$24,040$22,423$20,911$19,500$14,287
8 years$22,321$20,607$19,016$17,542$16,177$11,258
9 years$19,640$17,942$16,379$14,942$13,624$8,991
10 years$17,497$15,815$14,279$12,880$11,608$7,254
11 years$15,744$14,079$12,571$11,209$9,983$5,899
12 years$14,284$12,637$11,157$9,832$8,651$4,827
13 years$13,050$11,420$9,968$8,680$7,544$3,970
14 years$11,994$10,380$8,956$7,705$6,613$3,277
15 years$11,078$9,483$8,086$6,872$5,823$2,714
16 years$10,278$8,700$7,331$6,153$5,146$2,254
17 years$9,573$8,013$6,671$5,528$4,563$1,876
18 years$8,947$7,404$6,090$4,982$4,057$1,564
19 years$8,388$6,862$5,575$4,502$3,616$1,306
20 years$7,885$6,376$5,116$4,077$3,230$1,091
21 years$7,431$5,939$4,706$3,700$2,891$913
22 years$7,018$5,544$4,337$3,365$2,591$765
23 years$6,642$5,185$4,005$3,064$2,326$641
24 years$6,298$4,858$3,704$2,795$2,090$537
25 years$5,981$4,559$3,430$2,552$1,881$451
26 years$5,690$4,285$3,182$2,334$1,694$378
27 years$5,420$4,033$2,954$2,136$1,528$318
28 years$5,171$3,800$2,746$1,957$1,378$267
29 years$4,939$3,585$2,556$1,795$1,245$224
30 years$4,723$3,386$2,381$1,647$1,125$188
31 years$4,521$3,200$2,219$1,513$1,017$158
32 years$4,332$3,028$2,071$1,390$920$133
33 years$4,155$2,868$1,933$1,278$832$112
34 years$3,989$2,718$1,807$1,176$754$94
35 years$3,832$2,578$1,689$1,083$683$79
36 years$3,685$2,447$1,580$997$618$66
37 years$3,546$2,324$1,479$919$561$56
38 years$3,414$2,209$1,385$847$508$47
39 years$3,290$2,100$1,297$781$461$39
40 years$3,172$1,998$1,216$720$418$33
41 years$3,060$1,902$1,140$665$379$28
42 years$2,954$1,811$1,070$613$344$23
43 years$2,853$1,726$1,004$566$312$20
44 years$2,756$1,645$942$523$283$17
45 years$2,665$1,569$885$483$257$14
46 years$2,577$1,497$831$446$234$12
47 years$2,494$1,428$781$412$212$10
48 years$2,414$1,363$734$381$193$8
49 years$2,338$1,302$690$352$175$7
50 years$2,265$1,244$648$325$159$6

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 $3,885 every year, while hoping to spend $53,713 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: 24/46/30 Blend
58$2,320,000$2,320,000$2,320,000$2,320,000
59$2,560,647$2,437,687$2,401,727$2,597,949
60$2,764,683$2,499,984$2,425,035$2,692,689
61$2,987,730$2,563,533$2,447,323$2,789,359
62$3,231,672$2,628,338$2,468,501$2,891,820
63$3,498,579$2,694,404$2,488,473$3,000,593
64$3,790,736$2,761,731$2,507,138$3,116,250
65$4,110,654$2,830,320$2,524,391$3,239,424
66$4,461,102$2,900,166$2,540,119$3,370,811
67$4,845,127$2,971,267$2,554,206$3,511,179
68$5,266,086$3,043,615$2,566,528$3,661,373
69$5,727,676$3,117,201$2,576,956$3,822,327
70$6,233,968$3,192,013$2,585,353$3,995,070
71$6,789,447$3,268,036$2,591,576$4,180,737
72$7,399,053$3,345,252$2,595,476$4,380,579
73$8,068,226$3,423,639$2,596,894$4,595,976
74$8,802,961$3,503,174$2,595,666$4,828,450
75$9,609,860$3,583,826$2,591,618$5,079,680
76$10,496,196$3,665,564$2,584,568$5,351,517
77$11,469,981$3,748,350$2,574,324$5,646,004
78$12,540,043$3,832,142$2,560,687$5,965,393
79$13,716,104$3,916,895$2,543,447$6,312,169
80$15,008,879$4,002,554$2,522,385$6,689,071
81$16,430,169$4,089,064$2,497,269$7,099,122
82$17,992,978$4,176,360$2,467,859$7,545,656
83$19,711,632$4,264,372$2,433,903$8,032,350
84$21,601,914$4,353,022$2,395,135$8,563,259
85$23,681,216$4,442,227$2,351,278$9,142,856
86$25,968,698$4,531,893$2,302,044$9,776,075
87$28,485,470$4,621,922$2,247,128$10,468,356
88$31,254,795$4,712,202$2,186,213$11,225,702
89$34,302,300$4,802,617$2,118,968$12,054,730
90$37,656,226$4,893,036$2,045,044$12,962,740
91$41,347,688$4,983,321$1,964,080$13,957,782
92$45,410,970$5,073,322$1,875,695$15,048,733
93$49,883,850$5,162,876$1,779,492$16,245,383
94$54,807,955$5,251,809$1,675,056$17,558,529
95$60,229,150$5,339,932$1,561,955$19,000,078
96$66,197,978$5,427,042$1,439,734$20,583,157
97$72,770,127$5,512,923$1,307,921$22,322,245
98$80,006,964$5,597,341$1,166,021$24,233,306
99$87,976,109$5,680,045$1,013,517$26,333,943
100$96,752,072$5,760,767$849,869$28,643,567