Can I retire at age 59 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$194,887$193,151$191,457$189,804$188,190$182,531
2 years$96,479$94,682$92,940$91,252$89,614$83,961
3 years$63,680$61,876$60,139$58,466$56,855$51,384
4 years$47,284$45,485$43,765$42,121$40,549$35,303
5 years$37,449$35,661$33,964$32,353$30,825$25,818
6 years$30,895$29,120$27,448$25,873$24,391$19,627
7 years$26,215$24,455$22,809$21,272$19,836$15,315
8 years$22,706$20,962$19,344$17,844$16,456$12,175
9 years$19,979$18,251$16,661$15,199$13,858$9,813
10 years$17,798$16,088$14,525$13,102$11,808$7,993
11 years$16,015$14,322$12,788$11,403$10,155$6,563
12 years$14,531$12,855$11,349$10,002$8,800$5,424
13 years$13,275$11,617$10,140$8,830$7,674$4,506
14 years$12,200$10,559$9,110$7,838$6,727$3,759
15 years$11,269$9,646$8,226$6,990$5,923$3,147
16 years$10,456$8,850$7,458$6,259$5,235$2,642
17 years$9,738$8,151$6,786$5,624$4,642$2,223
18 years$9,102$7,532$6,195$5,068$4,127$1,874
19 years$8,532$6,980$5,671$4,580$3,679$1,582
20 years$8,021$6,486$5,205$4,148$3,286$1,338
21 years$7,559$6,042$4,787$3,764$2,940$1,133
22 years$7,139$5,640$4,412$3,423$2,636$960
23 years$6,756$5,275$4,074$3,117$2,366$814
24 years$6,406$4,942$3,768$2,843$2,127$691
25 years$6,084$4,638$3,490$2,596$1,914$586
26 years$5,788$4,359$3,236$2,374$1,724$498
27 years$5,514$4,102$3,005$2,173$1,554$423
28 years$5,260$3,866$2,794$1,991$1,402$360
29 years$5,024$3,647$2,600$1,826$1,266$306
30 years$4,804$3,444$2,422$1,675$1,144$260
31 years$4,599$3,256$2,258$1,539$1,034$221
32 years$4,407$3,080$2,106$1,414$936$188
33 years$4,226$2,917$1,967$1,300$847$160
34 years$4,057$2,765$1,838$1,197$767$136
35 years$3,898$2,622$1,718$1,101$694$116
36 years$3,748$2,489$1,607$1,014$629$99
37 years$3,607$2,364$1,504$935$570$84
38 years$3,473$2,247$1,409$862$517$72
39 years$3,346$2,136$1,320$794$469$61
40 years$3,226$2,033$1,237$733$425$52
41 years$3,113$1,935$1,160$676$386$44
42 years$3,005$1,843$1,088$624$350$38
43 years$2,902$1,756$1,021$576$318$32
44 years$2,804$1,674$958$532$288$27
45 years$2,711$1,596$900$491$262$23
46 years$2,622$1,522$845$454$238$20
47 years$2,537$1,453$794$419$216$17
48 years$2,456$1,387$746$387$196$14
49 years$2,378$1,324$701$358$178$12
50 years$2,304$1,265$659$331$162$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,360,000, adding $5,428 every year, while hoping to spend $37,665 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: 37/43/20 Blend
58$2,360,000$2,360,000$2,360,000$2,360,000
59$2,606,319$2,481,239$2,444,659$2,686,857
60$2,832,088$2,562,744$2,486,480$2,827,313
61$3,079,624$2,646,981$2,528,439$2,974,996
62$3,351,105$2,734,044$2,570,502$3,133,741
63$3,648,935$2,824,029$2,612,631$3,304,564
64$3,975,758$2,917,038$2,654,786$3,488,580
65$4,334,488$3,013,175$2,696,924$3,687,017
66$4,728,334$3,112,549$2,738,999$3,901,222
67$5,160,832$3,215,272$2,780,963$4,132,677
68$5,635,876$3,321,460$2,822,765$4,383,013
69$6,157,757$3,431,233$2,864,349$4,654,022
70$6,731,201$3,544,716$2,905,657$4,947,674
71$7,361,415$3,662,038$2,946,628$5,266,140
72$8,054,135$3,783,334$2,987,196$5,611,804
73$8,815,681$3,908,741$3,027,291$5,987,292
74$9,653,016$4,038,404$3,066,840$6,395,492
75$10,573,809$4,172,472$3,105,766$6,839,584
76$11,586,514$4,311,099$3,143,985$7,323,067
77$12,700,441$4,454,446$3,181,411$7,849,790
78$13,925,850$4,602,678$3,217,952$8,423,994
79$15,274,044$4,755,966$3,253,511$9,050,346
80$16,757,478$4,914,491$3,287,986$9,733,982
81$18,389,876$5,078,435$3,321,268$10,480,559
82$20,186,357$5,247,992$3,353,244$11,296,307
83$22,163,581$5,423,360$3,383,793$12,188,081
84$24,339,906$5,604,744$3,412,790$13,163,435
85$26,735,559$5,792,359$3,440,101$14,230,686
86$29,372,827$5,986,426$3,465,586$15,398,990
87$32,276,269$6,187,175$3,489,097$16,678,437
88$35,472,946$6,394,844$3,510,479$18,080,134
89$38,992,676$6,609,680$3,529,569$19,616,318
90$42,868,315$6,831,941$3,546,196$21,300,466
91$47,136,068$7,061,891$3,560,178$23,147,423
92$51,835,831$7,299,807$3,571,328$25,173,542
93$57,011,563$7,545,975$3,579,445$27,396,835
94$62,711,708$7,800,693$3,584,322$29,837,146
95$68,989,643$8,064,268$3,585,738$32,516,332
96$75,904,190$8,337,021$3,583,463$35,458,475
97$83,520,166$8,619,283$3,577,258$38,690,102
98$91,908,994$8,911,399$3,566,867$42,240,441
99$101,149,380$9,213,727$3,552,026$46,141,688
100$111,328,055$9,526,637$3,532,456$50,429,317