Can I retire at age 59 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$192,409$190,695$189,023$187,391$185,797$184,627
2 years$95,252$93,478$91,759$90,092$88,475$87,294
3 years$62,871$61,089$59,374$57,723$56,132$54,977
4 years$46,683$44,907$43,209$41,586$40,034$38,914
5 years$36,973$35,208$33,532$31,942$30,433$29,352
6 years$30,502$28,750$27,099$25,544$24,081$23,040
7 years$25,881$24,144$22,519$21,001$19,584$18,584
8 years$22,418$20,696$19,098$17,618$16,247$15,287
9 years$19,725$18,019$16,449$15,006$13,682$12,762
10 years$17,572$15,883$14,341$12,936$11,658$10,778
11 years$15,812$14,140$12,625$11,258$10,026$9,185
12 years$14,346$12,691$11,205$9,875$8,689$7,886
13 years$13,107$11,469$10,011$8,718$7,577$6,812
14 years$12,045$10,425$8,995$7,739$6,642$5,914
15 years$11,126$9,524$8,121$6,902$5,848$5,156
16 years$10,323$8,738$7,363$6,180$5,168$4,511
17 years$9,615$8,047$6,700$5,552$4,583$3,959
18 years$8,986$7,436$6,116$5,004$4,075$3,484
19 years$8,424$6,891$5,599$4,521$3,632$3,072
20 years$7,919$6,404$5,139$4,095$3,244$2,715
21 years$7,463$5,965$4,726$3,716$2,903$2,403
22 years$7,048$5,568$4,356$3,379$2,602$2,130
23 years$6,670$5,208$4,022$3,077$2,336$1,891
24 years$6,325$4,879$3,720$2,807$2,099$1,681
25 years$6,007$4,579$3,445$2,563$1,889$1,495
26 years$5,714$4,303$3,195$2,344$1,702$1,331
27 years$5,444$4,050$2,967$2,145$1,534$1,186
28 years$5,193$3,816$2,758$1,966$1,384$1,058
29 years$4,960$3,600$2,567$1,802$1,250$944
30 years$4,743$3,400$2,391$1,654$1,130$843
31 years$4,540$3,214$2,229$1,519$1,021$753
32 years$4,350$3,041$2,080$1,396$924$673
33 years$4,173$2,880$1,942$1,284$836$601
34 years$4,006$2,730$1,814$1,181$757$538
35 years$3,849$2,589$1,696$1,087$686$481
36 years$3,701$2,457$1,587$1,002$621$430
37 years$3,561$2,334$1,485$923$563$385
38 years$3,429$2,218$1,391$851$510$345
39 years$3,304$2,109$1,303$784$463$309
40 years$3,185$2,007$1,221$723$420$276
41 years$3,073$1,910$1,145$667$381$248
42 years$2,966$1,819$1,074$616$346$222
43 years$2,865$1,733$1,008$569$314$199
44 years$2,768$1,652$946$525$285$178
45 years$2,676$1,576$889$485$258$160
46 years$2,589$1,503$835$448$235$143
47 years$2,505$1,434$784$414$213$128
48 years$2,425$1,369$737$382$194$115
49 years$2,348$1,308$692$353$176$103
50 years$2,275$1,249$651$327$160$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,330,000, adding $2,586 every year, while hoping to spend $25,852 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: 35/47/18 Blend
58$2,330,000$2,330,000$2,330,000$2,330,000
59$2,570,327$2,446,837$2,410,722$2,646,034
60$2,804,995$2,539,226$2,463,975$2,793,956
61$3,062,731$2,635,275$2,518,146$2,950,853
62$3,345,863$2,735,137$2,573,237$3,119,599
63$3,656,953$2,838,971$2,629,252$3,301,259
64$3,998,823$2,946,941$2,686,193$3,497,005
65$4,374,582$3,059,221$2,744,060$3,708,122
66$4,787,658$3,175,991$2,802,854$3,936,019
67$5,241,823$3,297,439$2,862,574$4,182,245
68$5,741,237$3,423,761$2,923,218$4,448,501
69$6,290,480$3,555,162$2,984,783$4,736,654
70$6,894,601$3,691,857$3,047,265$5,048,756
71$7,559,161$3,834,069$3,110,659$5,387,061
72$8,290,287$3,982,030$3,174,958$5,754,046
73$9,094,731$4,135,984$3,240,153$6,152,433
74$9,979,932$4,296,185$3,306,236$6,585,217
75$10,954,085$4,462,898$3,373,196$7,055,685
76$12,026,222$4,636,401$3,441,018$7,567,457
77$13,206,294$4,816,982$3,509,690$8,124,510
78$14,505,266$5,004,943$3,579,194$8,731,219
79$15,935,218$5,200,601$3,649,512$9,392,396
80$17,509,464$5,404,284$3,720,624$10,113,334
81$19,242,671$5,616,336$3,792,507$10,899,857
82$21,151,004$5,837,117$3,865,137$11,758,372
83$23,252,273$6,067,002$3,938,485$12,695,927
84$25,566,102$6,306,383$4,012,522$13,720,281
85$28,114,119$6,555,669$4,087,215$14,839,970
86$30,920,152$6,815,290$4,162,530$16,064,390
87$34,010,459$7,085,691$4,238,427$17,403,882
88$37,413,976$7,367,340$4,314,864$18,869,829
89$41,162,587$7,660,725$4,391,797$20,474,762
90$45,291,427$7,966,356$4,469,178$22,232,474
91$49,839,211$8,284,766$4,546,954$24,158,151
92$54,848,603$8,616,512$4,625,070$26,268,512
93$60,366,615$8,962,176$4,703,464$28,581,968
94$66,445,053$9,322,367$4,782,074$31,118,786
95$73,141,006$9,697,719$4,860,830$33,901,287
96$80,517,379$10,088,899$4,939,659$36,954,048
97$88,643,497$10,496,600$5,018,483$40,304,135
98$97,595,749$10,921,548$5,097,217$43,981,355
99$107,458,315$11,364,504$5,175,774$48,018,533
100$118,323,958$11,826,260$5,254,057$52,451,823