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%18.5%
1 years$193,235$191,514$189,834$188,195$186,595$180,189
2 years$95,661$93,879$92,153$90,479$88,855$82,467
3 years$63,140$61,351$59,629$57,970$56,373$50,203
4 years$46,883$45,100$43,395$41,764$40,206$34,301
5 years$37,132$35,359$33,676$32,079$30,564$24,939
6 years$30,633$28,873$27,215$25,654$24,184$18,845
7 years$25,992$24,247$22,616$21,092$19,668$14,613
8 years$22,514$20,785$19,180$17,693$16,317$11,542
9 years$19,810$18,097$16,520$15,071$13,741$9,240
10 years$17,647$15,951$14,402$12,991$11,708$7,474
11 years$15,880$14,201$12,680$11,306$10,069$6,094
12 years$14,408$12,746$11,253$9,917$8,726$5,000
13 years$13,163$11,518$10,054$8,755$7,609$4,123
14 years$12,097$10,470$9,033$7,772$6,670$3,413
15 years$11,174$9,564$8,156$6,931$5,873$2,835
16 years$10,367$8,775$7,394$6,206$5,190$2,361
17 years$9,656$8,082$6,729$5,576$4,602$1,971
18 years$9,024$7,468$6,142$5,025$4,092$1,648
19 years$8,460$6,921$5,623$4,541$3,647$1,380
20 years$7,953$6,431$5,161$4,112$3,258$1,157
21 years$7,495$5,991$4,747$3,732$2,915$971
22 years$7,078$5,592$4,375$3,394$2,613$816
23 years$6,699$5,230$4,039$3,091$2,346$686
24 years$6,352$4,900$3,736$2,819$2,108$577
25 years$6,033$4,599$3,460$2,574$1,897$486
26 years$5,739$4,322$3,209$2,354$1,709$409
27 years$5,467$4,067$2,980$2,154$1,541$344
28 years$5,215$3,833$2,770$1,974$1,390$290
29 years$4,981$3,616$2,578$1,810$1,255$244
30 years$4,763$3,415$2,401$1,661$1,134$206
31 years$4,560$3,228$2,239$1,526$1,026$174
32 years$4,369$3,054$2,089$1,402$928$146
33 years$4,191$2,893$1,950$1,289$840$124
34 years$4,023$2,741$1,822$1,186$760$104
35 years$3,865$2,600$1,704$1,092$688$88
36 years$3,716$2,468$1,594$1,006$624$74
37 years$3,576$2,344$1,492$927$565$63
38 years$3,444$2,228$1,397$854$513$53
39 years$3,318$2,118$1,309$788$465$45
40 years$3,199$2,015$1,227$726$422$38
41 years$3,086$1,918$1,150$670$382$32
42 years$2,979$1,827$1,079$619$347$27
43 years$2,877$1,741$1,012$571$315$23
44 years$2,780$1,659$950$527$286$19
45 years$2,688$1,582$892$487$260$16
46 years$2,600$1,510$838$450$236$14
47 years$2,516$1,441$787$416$214$11
48 years$2,435$1,375$740$384$194$10
49 years$2,358$1,313$695$355$177$8
50 years$2,285$1,254$654$328$160$7

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 $4,081 every year, while hoping to spend $21,762 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: 35/35/30 Blend
58$2,340,000$2,340,000$2,340,000$2,340,000
59$2,582,890$2,458,870$2,422,600$2,649,857
60$2,823,190$2,556,200$2,480,602$2,797,980
61$3,087,271$2,657,569$2,539,818$2,955,460
62$3,377,536$2,763,154$2,600,266$3,124,970
63$3,696,633$2,873,136$2,661,962$3,307,603
64$4,047,476$2,987,707$2,724,925$3,504,560
65$4,433,280$3,107,066$2,789,172$3,717,159
66$4,857,585$3,231,422$2,854,719$3,946,847
67$5,324,290$3,360,993$2,921,583$4,195,213
68$5,837,692$3,496,007$2,989,781$4,464,005
69$6,402,527$3,636,701$3,059,329$4,755,140
70$7,024,011$3,783,325$3,130,242$5,070,727
71$7,707,891$3,936,140$3,202,537$5,413,083
72$8,460,502$4,095,416$3,276,227$5,784,755
73$9,288,820$4,261,439$3,351,328$6,188,544
74$10,200,536$4,434,505$3,427,854$6,627,529
75$11,204,120$4,614,926$3,505,816$7,105,096
76$12,308,909$4,803,025$3,585,230$7,624,969
77$13,525,188$4,999,144$3,666,105$8,191,244
78$14,864,291$5,203,637$3,748,454$8,808,426
79$16,338,709$5,416,875$3,832,288$9,481,472
80$17,962,203$5,639,247$3,917,614$10,215,835
81$19,749,936$5,871,159$4,004,443$11,017,517
82$21,718,620$6,113,036$4,092,782$11,893,121
83$23,886,666$6,365,321$4,182,637$12,849,914
84$26,274,364$6,628,481$4,274,014$13,895,893
85$28,904,073$6,902,999$4,366,917$15,039,862
86$31,800,427$7,189,386$4,461,348$16,291,511
87$34,990,577$7,488,171$4,557,309$17,661,506
88$38,504,436$7,799,912$4,654,800$19,161,590
89$42,374,971$8,125,191$4,753,818$20,804,692
90$46,638,508$8,464,615$4,854,361$22,605,043
91$51,335,076$8,818,821$4,956,422$24,578,317
92$56,508,787$9,188,476$5,059,995$26,741,769
93$62,208,248$9,574,277$5,165,070$29,114,400
94$68,487,025$9,976,951$5,271,635$31,717,134
95$75,404,143$10,397,264$5,379,676$34,573,014
96$83,024,648$10,836,012$5,489,177$37,707,416
97$91,420,216$11,294,031$5,600,119$41,148,286
98$100,669,835$11,772,195$5,712,480$44,926,404
99$110,860,544$12,271,419$5,826,234$49,075,669
100$122,088,262$12,792,660$5,941,355$53,633,420