Can I retire at age 59 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$193,235$191,514$189,834$188,195$186,595$184,646
2 years$95,661$93,879$92,153$90,479$88,855$86,892
3 years$63,140$61,351$59,629$57,970$56,373$54,458
4 years$46,883$45,100$43,395$41,764$40,206$38,352
5 years$37,132$35,359$33,676$32,079$30,564$28,778
6 years$30,633$28,873$27,215$25,654$24,184$22,468
7 years$25,992$24,247$22,616$21,092$19,668$18,022
8 years$22,514$20,785$19,180$17,693$16,317$14,741
9 years$19,810$18,097$16,520$15,071$13,741$12,235
10 years$17,647$15,951$14,402$12,991$11,708$10,270
11 years$15,880$14,201$12,680$11,306$10,069$8,699
12 years$14,408$12,746$11,253$9,917$8,726$7,422
13 years$13,163$11,518$10,054$8,755$7,609$6,370
14 years$12,097$10,470$9,033$7,772$6,670$5,493
15 years$11,174$9,564$8,156$6,931$5,873$4,757
16 years$10,367$8,775$7,394$6,206$5,190$4,134
17 years$9,656$8,082$6,729$5,576$4,602$3,603
18 years$9,024$7,468$6,142$5,025$4,092$3,148
19 years$8,460$6,921$5,623$4,541$3,647$2,756
20 years$7,953$6,431$5,161$4,112$3,258$2,418
21 years$7,495$5,991$4,747$3,732$2,915$2,125
22 years$7,078$5,592$4,375$3,394$2,613$1,869
23 years$6,699$5,230$4,039$3,091$2,346$1,647
24 years$6,352$4,900$3,736$2,819$2,108$1,452
25 years$6,033$4,599$3,460$2,574$1,897$1,282
26 years$5,739$4,322$3,209$2,354$1,709$1,133
27 years$5,467$4,067$2,980$2,154$1,541$1,001
28 years$5,215$3,833$2,770$1,974$1,390$886
29 years$4,981$3,616$2,578$1,810$1,255$784
30 years$4,763$3,415$2,401$1,661$1,134$694
31 years$4,560$3,228$2,239$1,526$1,026$615
32 years$4,369$3,054$2,089$1,402$928$545
33 years$4,191$2,893$1,950$1,289$840$483
34 years$4,023$2,741$1,822$1,186$760$429
35 years$3,865$2,600$1,704$1,092$688$380
36 years$3,716$2,468$1,594$1,006$624$337
37 years$3,576$2,344$1,492$927$565$299
38 years$3,444$2,228$1,397$854$513$266
39 years$3,318$2,118$1,309$788$465$236
40 years$3,199$2,015$1,227$726$422$209
41 years$3,086$1,918$1,150$670$382$186
42 years$2,979$1,827$1,079$619$347$165
43 years$2,877$1,741$1,012$571$315$147
44 years$2,780$1,659$950$527$286$130
45 years$2,688$1,582$892$487$260$116
46 years$2,600$1,510$838$450$236$103
47 years$2,516$1,441$787$416$214$91
48 years$2,435$1,375$740$384$194$81
49 years$2,358$1,313$695$355$177$72
50 years$2,285$1,254$654$328$160$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,340,000, adding $6,926 every year, while hoping to spend $40,652 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: 35/41/24 Blend
58$2,340,000$2,340,000$2,340,000$2,340,000
59$2,585,824$2,461,804$2,425,534$2,657,323
60$2,806,325$2,539,179$2,463,536$2,788,291
61$3,047,954$2,618,983$2,501,449$2,925,301
62$3,312,824$2,701,292$2,539,226$3,072,322
63$3,603,261$2,786,184$2,576,819$3,230,272
64$3,921,828$2,873,741$2,614,176$3,400,162
65$4,271,345$2,964,046$2,651,242$3,583,102
66$4,654,923$3,057,184$2,687,959$3,780,315
67$5,075,984$3,153,245$2,724,265$3,993,143
68$5,538,300$3,252,320$2,760,094$4,223,065
69$6,046,027$3,354,504$2,795,377$4,471,707
70$6,603,741$3,459,894$2,830,041$4,740,857
71$7,216,483$3,568,590$2,864,009$5,032,484
72$7,889,809$3,680,695$2,897,198$5,348,756
73$8,629,838$3,796,317$2,929,522$5,692,057
74$9,443,310$3,915,565$2,960,889$6,065,011
75$10,337,653$4,038,553$2,991,204$6,470,509
76$11,321,049$4,165,398$3,020,366$6,911,731
77$12,402,514$4,296,221$3,048,266$7,392,181
78$13,591,980$4,431,145$3,074,793$7,915,715
79$14,900,391$4,570,300$3,099,827$8,486,579
80$16,339,803$4,713,817$3,123,243$9,109,451
81$17,923,502$4,861,833$3,144,911$9,789,480
82$19,666,125$5,014,489$3,164,691$10,532,338
83$21,583,800$5,171,929$3,182,438$11,344,273
84$23,694,297$5,334,303$3,197,999$12,232,164
85$26,017,197$5,501,765$3,211,214$13,203,591
86$28,574,074$5,674,474$3,221,913$14,266,902
87$31,388,701$5,852,595$3,229,918$15,431,292
88$34,487,272$6,036,296$3,235,044$16,706,891
89$37,898,651$6,225,751$3,237,095$18,104,859
90$41,654,641$6,421,141$3,235,865$19,637,488
91$45,790,287$6,622,650$3,231,140$21,318,322
92$50,344,206$6,830,469$3,222,692$23,162,281
93$55,358,948$7,044,795$3,210,286$25,185,805
94$60,881,403$7,265,832$3,193,673$27,407,003
95$66,963,237$7,493,789$3,172,592$29,845,829
96$73,661,384$7,728,882$3,146,771$32,524,268
97$81,038,581$7,971,333$3,115,923$35,466,543
98$89,163,960$8,221,372$3,079,750$38,699,342
99$98,113,700$8,479,235$3,037,938$42,252,073
100$107,971,746$8,745,166$2,990,157$46,157,135