Can I retire at age 59 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$196,538$194,788$193,080$191,412$189,785$188,668
2 years$97,296$95,484$93,728$92,025$90,374$89,247
3 years$64,220$62,400$60,648$58,961$57,337$56,235
4 years$47,685$45,871$44,136$42,478$40,893$39,825
5 years$37,766$35,963$34,252$32,627$31,086$30,054
6 years$31,156$29,367$27,680$26,092$24,597$23,604
7 years$26,437$24,662$23,003$21,452$20,004$19,049
8 years$22,899$21,140$19,508$17,996$16,596$15,679
9 years$20,148$18,406$16,802$15,328$13,976$13,097
10 years$17,949$16,224$14,649$13,213$11,908$11,067
11 years$16,151$14,443$12,896$11,499$10,241$9,438
12 years$14,654$12,964$11,445$10,086$8,875$8,108
13 years$13,388$11,715$10,226$8,905$7,739$7,008
14 years$12,304$10,649$9,188$7,905$6,784$6,088
15 years$11,365$9,728$8,295$7,050$5,973$5,311
16 years$10,544$8,925$7,521$6,312$5,279$4,650
17 years$9,821$8,220$6,844$5,671$4,681$4,084
18 years$9,179$7,595$6,247$5,111$4,162$3,596
19 years$8,605$7,039$5,719$4,618$3,710$3,174
20 years$8,089$6,541$5,249$4,183$3,314$2,806
21 years$7,623$6,093$4,828$3,796$2,965$2,486
22 years$7,199$5,688$4,450$3,452$2,658$2,206
23 years$6,814$5,319$4,108$3,143$2,386$1,959
24 years$6,460$4,984$3,800$2,867$2,145$1,743
25 years$6,136$4,677$3,519$2,618$1,930$1,551
26 years$5,837$4,396$3,264$2,394$1,738$1,382
27 years$5,561$4,137$3,031$2,191$1,567$1,233
28 years$5,305$3,898$2,818$2,008$1,414$1,100
29 years$5,066$3,678$2,622$1,841$1,277$982
30 years$4,845$3,473$2,442$1,690$1,154$878
31 years$4,638$3,283$2,277$1,552$1,043$785
32 years$4,444$3,107$2,124$1,426$944$702
33 years$4,262$2,942$1,983$1,311$854$628
34 years$4,092$2,788$1,853$1,207$773$562
35 years$3,931$2,645$1,733$1,111$700$503
36 years$3,780$2,510$1,621$1,023$634$451
37 years$3,637$2,384$1,517$943$575$404
38 years$3,502$2,266$1,421$869$521$362
39 years$3,375$2,155$1,331$801$473$324
40 years$3,254$2,050$1,248$739$429$290
41 years$3,139$1,951$1,170$682$389$260
42 years$3,030$1,858$1,097$629$353$233
43 years$2,926$1,771$1,030$581$320$209
44 years$2,828$1,688$967$536$291$188
45 years$2,734$1,609$908$495$264$168
46 years$2,644$1,535$852$457$240$151
47 years$2,559$1,465$801$423$218$135
48 years$2,477$1,399$753$391$198$121
49 years$2,399$1,336$707$361$180$109
50 years$2,324$1,276$665$334$163$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,380,000, adding $5,950 every year, while hoping to spend $20,773 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: 58/31/11 Blend
58$2,380,000$2,380,000$2,380,000$2,380,000
59$2,628,897$2,502,757$2,465,867$2,774,011
60$2,874,943$2,603,290$2,526,372$2,973,048
61$3,145,388$2,708,053$2,588,207$3,187,057
62$3,442,701$2,817,231$2,651,395$3,419,831
63$3,769,599$2,931,018$2,715,959$3,673,171
64$4,129,077$3,049,616$2,781,922$3,949,061
65$4,524,433$3,173,237$2,849,307$4,249,679
66$4,959,302$3,302,103$2,918,136$4,577,424
67$5,437,690$3,436,445$2,988,432$4,934,934
68$5,964,008$3,576,504$3,060,218$5,325,110
69$6,543,118$3,722,534$3,133,517$5,751,144
70$7,180,377$3,874,799$3,208,350$6,216,549
71$7,881,687$4,033,576$3,284,742$6,725,189
72$8,653,551$4,199,154$3,362,713$7,281,319
73$9,503,135$4,371,834$3,442,286$7,889,618
74$10,438,335$4,551,934$3,523,482$8,555,239
75$11,467,851$4,739,785$3,606,325$9,283,853
76$12,601,268$4,935,731$3,690,833$10,081,702
77$13,849,151$5,140,135$3,777,029$10,955,657
78$15,223,138$5,353,375$3,864,933$11,913,284
79$16,736,055$5,575,847$3,954,566$12,962,911
80$18,402,034$5,807,966$4,045,945$14,113,707
81$20,236,649$6,050,163$4,139,092$15,375,770
82$22,257,059$6,302,893$4,234,023$16,760,217
83$24,482,174$6,566,629$4,330,757$18,279,290
84$26,932,829$6,841,868$4,429,311$19,946,471
85$29,631,986$7,129,127$4,529,701$21,776,605
86$32,604,944$7,428,951$4,631,943$23,786,042
87$35,879,586$7,741,906$4,736,050$25,992,789
88$39,486,632$8,068,588$4,842,036$28,416,677
89$43,459,938$8,409,618$4,949,913$31,079,548
90$47,836,809$8,765,647$5,059,693$34,005,460
91$52,658,356$9,137,357$5,171,386$37,220,912
92$57,969,880$9,525,459$5,284,999$40,755,091
93$63,821,301$9,930,700$5,400,539$44,640,147
94$70,267,630$10,353,860$5,518,013$48,911,496
95$77,369,485$10,795,756$5,637,424$53,608,149
96$85,193,669$11,257,244$5,758,774$58,773,082
97$93,813,792$11,739,219$5,882,062$64,453,636
98$103,310,975$12,242,617$6,007,287$70,701,963
99$113,774,609$12,768,418$6,134,445$77,575,517
100$125,303,199$13,317,651$6,263,529$85,137,592