Can I retire at age 59 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$197,364$195,606$193,891$192,217$190,582$188,985
2 years$97,705$95,885$94,122$92,412$90,753$89,144
3 years$64,490$62,662$60,903$59,209$57,578$56,006
4 years$47,885$46,063$44,322$42,657$41,065$39,542
5 years$37,925$36,114$34,396$32,765$31,217$29,748
6 years$31,287$29,490$27,797$26,202$24,701$23,288
7 years$26,548$24,766$23,099$21,542$20,088$18,732
8 years$22,995$21,229$19,590$18,071$16,665$15,365
9 years$20,233$18,483$16,873$15,393$14,035$12,790
10 years$18,025$16,292$14,710$13,269$11,958$10,769
11 years$16,219$14,504$12,951$11,548$10,284$9,150
12 years$14,715$13,018$11,493$10,129$8,912$7,831
13 years$13,444$11,764$10,268$8,942$7,772$6,742
14 years$12,355$10,694$9,226$7,938$6,813$5,834
15 years$11,413$9,769$8,330$7,079$5,998$5,069
16 years$10,589$8,963$7,552$6,339$5,301$4,420
17 years$9,862$8,254$6,872$5,695$4,701$3,866
18 years$9,217$7,627$6,274$5,133$4,180$3,390
19 years$8,641$7,069$5,743$4,638$3,725$2,979
20 years$8,123$6,569$5,271$4,200$3,327$2,623
21 years$7,655$6,119$4,848$3,812$2,978$2,313
22 years$7,230$5,711$4,468$3,466$2,669$2,043
23 years$6,842$5,342$4,126$3,157$2,396$1,807
24 years$6,488$5,005$3,816$2,879$2,154$1,599
25 years$6,162$4,697$3,534$2,629$1,938$1,417
26 years$5,862$4,414$3,278$2,404$1,746$1,257
27 years$5,584$4,154$3,044$2,201$1,574$1,116
28 years$5,327$3,915$2,829$2,016$1,420$991
29 years$5,088$3,693$2,633$1,849$1,282$881
30 years$4,865$3,488$2,453$1,697$1,159$783
31 years$4,657$3,297$2,286$1,558$1,047$697
32 years$4,463$3,120$2,133$1,432$948$620
33 years$4,280$2,954$1,992$1,317$858$552
34 years$4,109$2,800$1,861$1,212$776$491
35 years$3,948$2,656$1,740$1,115$703$438
36 years$3,796$2,521$1,628$1,027$637$390
37 years$3,653$2,394$1,523$947$577$348
38 years$3,517$2,275$1,427$872$524$310
39 years$3,389$2,164$1,337$804$475$276
40 years$3,268$2,058$1,253$742$431$246
41 years$3,152$1,959$1,175$685$391$220
42 years$3,043$1,866$1,102$632$354$196
43 years$2,939$1,778$1,034$583$322$175
44 years$2,840$1,695$971$538$292$156
45 years$2,745$1,616$911$497$265$139
46 years$2,655$1,542$856$459$241$124
47 years$2,569$1,471$804$424$219$111
48 years$2,487$1,405$756$392$198$99
49 years$2,409$1,341$710$362$180$88
50 years$2,333$1,281$668$335$164$79

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,390,000, adding $4,874 every year, while hoping to spend $31,030 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: 37/34/29 Blend
58$2,390,000$2,390,000$2,390,000$2,390,000
59$2,638,808$2,512,138$2,475,093$2,713,426
60$2,874,950$2,602,217$2,524,992$2,859,234
61$3,134,139$2,695,670$2,575,524$3,013,458
62$3,418,693$2,792,629$2,626,676$3,179,463
63$3,731,165$2,893,233$2,678,434$3,358,336
64$4,074,367$2,997,625$2,730,785$3,551,269
65$4,451,399$3,105,955$2,783,713$3,759,576
66$4,865,674$3,218,378$2,837,199$3,984,698
67$5,320,952$3,335,058$2,891,225$4,228,220
68$5,821,376$3,456,163$2,945,768$4,491,886
69$6,371,510$3,581,869$3,000,805$4,777,613
70$6,976,383$3,712,360$3,056,311$5,087,510
71$7,641,536$3,847,826$3,112,259$5,423,894
72$8,373,071$3,988,468$3,168,618$5,789,316
73$9,177,713$4,134,493$3,225,356$6,186,584
74$10,062,873$4,286,116$3,282,438$6,618,785
75$11,036,713$4,443,563$3,339,827$7,089,318
76$12,108,230$4,607,069$3,397,483$7,601,920
77$13,287,332$4,776,878$3,455,362$8,160,708
78$14,584,941$4,953,247$3,513,418$8,770,212
79$16,013,089$5,136,440$3,571,601$9,435,418
80$17,585,033$5,326,734$3,629,859$10,161,814
81$19,315,382$5,524,419$3,688,134$10,955,442
82$21,220,231$5,729,796$3,746,367$11,822,956
83$23,317,317$5,943,179$3,804,493$12,771,681
84$25,626,184$6,164,895$3,862,444$13,809,680
85$28,168,366$6,395,286$3,920,147$14,945,836
86$30,967,593$6,634,708$3,977,525$16,189,926
87$34,050,011$6,883,533$4,034,496$17,552,722
88$37,444,433$7,142,147$4,090,973$19,046,082
89$41,182,608$7,410,955$4,146,863$20,683,068
90$45,299,520$7,690,378$4,202,069$22,478,067
91$49,833,720$7,980,855$4,256,487$24,446,922
92$54,827,689$8,282,847$4,310,009$26,607,087
93$60,328,236$8,596,829$4,362,517$28,977,783
94$66,386,946$8,923,303$4,413,891$31,580,184
95$73,060,658$9,262,789$4,464,000$34,437,615
96$80,412,010$9,615,831$4,512,709$37,575,767
97$88,510,024$9,982,995$4,559,873$41,022,943
98$97,430,758$10,364,873$4,605,341$44,810,322
99$107,258,028$10,762,085$4,648,953$48,972,250
100$118,084,193$11,175,273$4,690,539$53,546,566