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

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$195,712$193,969$192,268$190,608$188,987$186,626
2 years$96,887$95,083$93,334$91,639$89,994$87,618
3 years$63,950$62,138$60,393$58,714$57,096$54,779
4 years$47,484$45,678$43,951$42,300$40,721$38,481
5 years$37,608$35,812$34,108$32,490$30,956$28,799
6 years$31,025$29,243$27,564$25,983$24,494$22,424
7 years$26,326$24,558$22,906$21,362$19,920$17,937
8 years$22,802$21,051$19,426$17,920$16,526$14,629
9 years$20,064$18,329$16,732$15,264$13,917$12,106
10 years$17,874$16,156$14,587$13,158$11,858$10,132
11 years$16,083$14,383$12,842$11,451$10,198$8,555
12 years$14,592$12,909$11,397$10,044$8,838$7,276
13 years$13,332$11,666$10,183$8,867$7,707$6,224
14 years$12,252$10,604$9,149$7,872$6,756$5,350
15 years$11,317$9,687$8,260$7,020$5,948$4,617
16 years$10,500$8,888$7,489$6,286$5,257$3,999
17 years$9,780$8,185$6,815$5,648$4,661$3,473
18 years$9,140$7,564$6,221$5,090$4,145$3,023
19 years$8,569$7,010$5,695$4,599$3,694$2,638
20 years$8,055$6,514$5,227$4,165$3,300$2,306
21 years$7,591$6,067$4,808$3,780$2,953$2,018
22 years$7,169$5,664$4,431$3,437$2,647$1,769
23 years$6,785$5,297$4,091$3,130$2,376$1,553
24 years$6,433$4,963$3,784$2,855$2,136$1,364
25 years$6,110$4,658$3,504$2,607$1,922$1,199
26 years$5,813$4,377$3,250$2,384$1,731$1,055
27 years$5,537$4,120$3,018$2,182$1,561$929
28 years$5,282$3,882$2,806$1,999$1,408$819
29 years$5,045$3,662$2,611$1,833$1,272$722
30 years$4,824$3,458$2,432$1,683$1,149$637
31 years$4,618$3,269$2,267$1,545$1,039$562
32 years$4,425$3,094$2,115$1,420$940$496
33 years$4,244$2,930$1,975$1,306$850$438
34 years$4,074$2,777$1,845$1,202$770$386
35 years$3,915$2,634$1,725$1,106$697$341
36 years$3,764$2,500$1,614$1,019$632$302
37 years$3,622$2,374$1,511$939$573$267
38 years$3,488$2,256$1,415$865$519$236
39 years$3,361$2,145$1,325$798$471$208
40 years$3,240$2,041$1,242$736$427$184
41 years$3,126$1,943$1,165$679$387$163
42 years$3,017$1,851$1,093$626$352$144
43 years$2,914$1,763$1,025$578$319$127
44 years$2,816$1,681$963$534$290$113
45 years$2,722$1,603$904$493$263$100
46 years$2,633$1,529$849$456$239$88
47 years$2,548$1,459$797$421$217$78
48 years$2,466$1,393$749$389$197$69
49 years$2,388$1,330$704$359$179$61
50 years$2,314$1,271$662$332$162$54

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 $5,330 every year, while hoping to spend $41,541 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: 36/50/14 Blend
58$2,370,000$2,370,000$2,370,000$2,370,000
59$2,617,238$2,491,628$2,454,893$2,700,006
60$2,839,997$2,569,518$2,492,933$2,838,012
61$3,084,085$2,649,833$2,530,854$2,982,550
62$3,351,634$2,732,647$2,568,610$3,137,685
63$3,644,991$2,818,038$2,606,149$3,304,383
64$3,966,743$2,906,085$2,643,418$3,483,702
65$4,319,738$2,996,870$2,680,360$3,676,808
66$4,707,112$3,090,477$2,716,912$3,884,980
67$5,132,321$3,186,994$2,753,013$4,109,626
68$5,599,172$3,286,511$2,788,593$4,352,294
69$6,111,858$3,389,120$2,823,580$4,614,684
70$6,674,996$3,494,916$2,857,899$4,898,670
71$7,293,676$3,603,997$2,891,470$5,206,308
72$7,973,503$3,716,465$2,924,206$5,539,864
73$8,720,653$3,832,424$2,956,019$5,901,830
74$9,541,928$3,951,981$2,986,814$6,294,947
75$10,444,824$4,075,248$3,016,492$6,722,233
76$11,437,598$4,202,337$3,044,947$7,187,008
77$12,529,349$4,333,367$3,072,068$7,692,927
78$13,730,099$4,468,459$3,097,738$8,244,014
79$15,050,892$4,607,736$3,121,836$8,844,698
80$16,503,897$4,751,329$3,144,231$9,499,854
81$18,102,519$4,899,369$3,164,788$10,214,851
82$19,861,530$5,051,992$3,183,362$10,995,601
83$21,797,206$5,209,340$3,199,805$11,848,611
84$23,927,480$5,371,556$3,213,957$12,781,051
85$26,272,110$5,538,790$3,225,652$13,800,812
86$28,852,870$5,711,195$3,234,716$14,916,588
87$31,693,749$5,888,930$3,240,965$16,137,953
88$34,821,181$6,072,157$3,244,207$17,475,452
89$38,264,293$6,261,044$3,244,239$18,940,698
90$42,055,180$6,455,764$3,240,850$20,546,485
91$46,229,208$6,656,496$3,233,818$22,306,904
92$50,825,344$6,863,422$3,222,908$24,237,477
93$55,886,531$7,076,731$3,207,877$26,355,304
94$61,460,084$7,296,618$3,188,468$28,679,222
95$67,598,143$7,523,282$3,164,412$31,229,981
96$74,358,162$7,756,931$3,135,428$34,030,443
97$81,803,450$7,997,777$3,101,221$37,105,792
98$90,003,771$8,246,037$3,061,481$40,483,775
99$99,036,001$8,501,938$3,015,886$44,194,963
100$108,984,852$8,765,712$2,964,097$48,273,034