Can I retire at age 59 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$195,712$193,969$192,268$190,608$188,987$184,945
2 years$96,887$95,083$93,334$91,639$89,994$85,941
3 years$63,950$62,138$60,393$58,714$57,096$53,159
4 years$47,484$45,678$43,951$42,300$40,721$36,930
5 years$37,608$35,812$34,108$32,490$30,956$27,322
6 years$31,025$29,243$27,564$25,983$24,494$21,021
7 years$26,326$24,558$22,906$21,362$19,920$16,609
8 years$22,802$21,051$19,426$17,920$16,526$13,375
9 years$20,064$18,329$16,732$15,264$13,917$10,924
10 years$17,874$16,156$14,587$13,158$11,858$9,020
11 years$16,083$14,383$12,842$11,451$10,198$7,512
12 years$14,592$12,909$11,397$10,044$8,838$6,299
13 years$13,332$11,666$10,183$8,867$7,707$5,311
14 years$12,252$10,604$9,149$7,872$6,756$4,498
15 years$11,317$9,687$8,260$7,020$5,948$3,824
16 years$10,500$8,888$7,489$6,286$5,257$3,261
17 years$9,780$8,185$6,815$5,648$4,661$2,788
18 years$9,140$7,564$6,221$5,090$4,145$2,389
19 years$8,569$7,010$5,695$4,599$3,694$2,051
20 years$8,055$6,514$5,227$4,165$3,300$1,763
21 years$7,591$6,067$4,808$3,780$2,953$1,518
22 years$7,169$5,664$4,431$3,437$2,647$1,308
23 years$6,785$5,297$4,091$3,130$2,376$1,129
24 years$6,433$4,963$3,784$2,855$2,136$975
25 years$6,110$4,658$3,504$2,607$1,922$842
26 years$5,813$4,377$3,250$2,384$1,731$728
27 years$5,537$4,120$3,018$2,182$1,561$630
28 years$5,282$3,882$2,806$1,999$1,408$545
29 years$5,045$3,662$2,611$1,833$1,272$472
30 years$4,824$3,458$2,432$1,683$1,149$409
31 years$4,618$3,269$2,267$1,545$1,039$354
32 years$4,425$3,094$2,115$1,420$940$307
33 years$4,244$2,930$1,975$1,306$850$266
34 years$4,074$2,777$1,845$1,202$770$231
35 years$3,915$2,634$1,725$1,106$697$200
36 years$3,764$2,500$1,614$1,019$632$173
37 years$3,622$2,374$1,511$939$573$150
38 years$3,488$2,256$1,415$865$519$131
39 years$3,361$2,145$1,325$798$471$113
40 years$3,240$2,041$1,242$736$427$98
41 years$3,126$1,943$1,165$679$387$85
42 years$3,017$1,851$1,093$626$352$74
43 years$2,914$1,763$1,025$578$319$64
44 years$2,816$1,681$963$534$290$56
45 years$2,722$1,603$904$493$263$48
46 years$2,633$1,529$849$456$239$42
47 years$2,548$1,459$797$421$217$36
48 years$2,466$1,393$749$389$197$32
49 years$2,388$1,330$704$359$179$27
50 years$2,314$1,271$662$332$162$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,370,000, adding $2,088 every year, while hoping to spend $34,794 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: 70/11/19 Blend
58$2,370,000$2,370,000$2,370,000$2,370,000
59$2,613,894$2,488,284$2,451,549$2,784,700
60$2,843,490$2,573,189$2,496,655$2,983,723
61$3,095,340$2,661,089$2,542,106$3,197,164
62$3,371,675$2,752,092$2,587,877$3,429,918
63$3,674,955$2,846,315$2,633,941$3,683,889
64$4,007,891$2,943,874$2,680,268$3,961,176
65$4,373,465$3,044,893$2,726,826$4,264,089
66$4,774,966$3,149,501$2,773,583$4,595,173
67$5,216,016$3,257,830$2,820,501$4,957,228
68$5,700,604$3,370,018$2,867,542$5,353,343
69$6,233,125$3,486,208$2,914,665$5,786,914
70$6,818,422$3,606,551$2,961,824$6,261,687
71$7,461,829$3,731,200$3,008,973$6,781,785
72$8,169,224$3,860,316$3,056,061$7,351,751
73$8,947,080$3,994,067$3,103,035$7,976,588
74$9,802,533$4,132,627$3,149,838$8,661,808
75$10,743,442$4,276,176$3,196,407$9,413,483
76$11,778,466$4,424,902$3,242,681$10,238,304
77$12,917,148$4,579,001$3,288,588$11,143,638
78$14,169,999$4,738,674$3,334,058$12,137,605
79$15,548,603$4,904,133$3,379,014$13,229,150
80$17,065,723$5,075,598$3,423,373$14,428,127
81$18,735,421$5,253,296$3,467,049$15,745,393
82$20,573,190$5,437,465$3,509,953$17,192,911
83$22,596,106$5,628,350$3,551,986$18,783,859
84$24,822,979$5,826,209$3,593,047$20,532,761
85$27,274,538$6,031,309$3,633,030$22,455,615
86$29,973,624$6,243,926$3,671,819$24,570,052
87$32,945,405$6,464,350$3,709,297$26,895,495
88$36,217,613$6,692,880$3,745,335$29,453,347
89$39,820,808$6,929,829$3,779,802$32,267,192
90$43,788,661$7,175,522$3,812,557$35,363,015
91$48,158,280$7,430,298$3,843,452$38,769,450
92$52,970,549$7,694,507$3,872,332$42,518,046
93$58,270,523$7,968,516$3,899,034$46,643,569
94$64,107,850$8,252,707$3,923,385$51,184,328
95$70,537,237$8,547,476$3,945,205$56,182,533
96$77,618,968$8,853,235$3,964,302$61,684,699
97$85,419,474$9,170,415$3,980,478$67,742,082
98$94,011,959$9,499,464$3,993,522$74,411,160
99$103,477,087$9,840,846$4,003,213$81,754,170
100$113,903,749$10,195,046$4,009,320$89,839,692