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

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$197,364$195,606$193,891$192,217$190,582$185,373
2 years$97,705$95,885$94,122$92,412$90,753$85,544
3 years$64,490$62,662$60,903$59,209$57,578$52,530
4 years$47,885$46,063$44,322$42,657$41,065$36,218
5 years$37,925$36,114$34,396$32,765$31,217$26,585
6 years$31,287$29,490$27,797$26,202$24,701$20,287
7 years$26,548$24,766$23,099$21,542$20,088$15,894
8 years$22,995$21,229$19,590$18,071$16,665$12,687
9 years$20,233$18,483$16,873$15,393$14,035$10,269
10 years$18,025$16,292$14,710$13,269$11,958$8,401
11 years$16,219$14,504$12,951$11,548$10,284$6,930
12 years$14,715$13,018$11,493$10,129$8,912$5,754
13 years$13,444$11,764$10,268$8,942$7,772$4,803
14 years$12,355$10,694$9,226$7,938$6,813$4,026
15 years$11,413$9,769$8,330$7,079$5,998$3,387
16 years$10,589$8,963$7,552$6,339$5,301$2,857
17 years$9,862$8,254$6,872$5,695$4,701$2,417
18 years$9,217$7,627$6,274$5,133$4,180$2,048
19 years$8,641$7,069$5,743$4,638$3,725$1,738
20 years$8,123$6,569$5,271$4,200$3,327$1,478
21 years$7,655$6,119$4,848$3,812$2,978$1,258
22 years$7,230$5,711$4,468$3,466$2,669$1,071
23 years$6,842$5,342$4,126$3,157$2,396$914
24 years$6,488$5,005$3,816$2,879$2,154$780
25 years$6,162$4,697$3,534$2,629$1,938$666
26 years$5,862$4,414$3,278$2,404$1,746$569
27 years$5,584$4,154$3,044$2,201$1,574$486
28 years$5,327$3,915$2,829$2,016$1,420$415
29 years$5,088$3,693$2,633$1,849$1,282$355
30 years$4,865$3,488$2,453$1,697$1,159$304
31 years$4,657$3,297$2,286$1,558$1,047$260
32 years$4,463$3,120$2,133$1,432$948$223
33 years$4,280$2,954$1,992$1,317$858$191
34 years$4,109$2,800$1,861$1,212$776$163
35 years$3,948$2,656$1,740$1,115$703$140
36 years$3,796$2,521$1,628$1,027$637$120
37 years$3,653$2,394$1,523$947$577$102
38 years$3,517$2,275$1,427$872$524$88
39 years$3,389$2,164$1,337$804$475$75
40 years$3,268$2,058$1,253$742$431$64
41 years$3,152$1,959$1,175$685$391$55
42 years$3,043$1,866$1,102$632$354$47
43 years$2,939$1,778$1,034$583$322$40
44 years$2,840$1,695$971$538$292$35
45 years$2,745$1,616$911$497$265$30
46 years$2,655$1,542$856$459$241$25
47 years$2,569$1,471$804$424$219$22
48 years$2,487$1,405$756$392$198$19
49 years$2,409$1,341$710$362$180$16
50 years$2,333$1,281$668$335$164$14

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 $2,042 every year, while hoping to spend $36,013 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: 60/20/20 Blend
58$2,390,000$2,390,000$2,390,000$2,390,000
59$2,635,886$2,509,216$2,472,171$2,780,116
60$2,866,429$2,593,850$2,516,672$2,962,646
61$3,119,280$2,681,424$2,561,455$3,157,555
62$3,396,677$2,772,045$2,606,495$3,369,388
63$3,701,085$2,865,821$2,651,758$3,599,792
64$4,035,217$2,962,868$2,697,214$3,850,580
65$4,402,064$3,063,303$2,742,825$4,123,744
66$4,804,920$3,167,251$2,788,556$4,421,483
67$5,247,414$3,274,838$2,834,364$4,746,213
68$5,733,542$3,386,197$2,880,207$5,100,597
69$6,267,708$3,501,466$2,926,039$5,487,565
70$6,854,764$3,620,787$2,971,811$5,910,345
71$7,500,054$3,744,309$3,017,471$6,372,491
72$8,209,465$3,872,186$3,062,962$6,877,917
73$8,989,485$4,004,578$3,108,226$7,430,934
74$9,847,261$4,141,651$3,153,200$8,036,290
75$10,790,667$4,283,577$3,197,817$8,699,213
76$11,828,378$4,430,535$3,242,007$9,425,463
77$12,969,953$4,582,712$3,285,695$10,221,383
78$14,225,924$4,740,301$3,328,801$11,093,962
79$15,607,894$4,903,502$3,371,242$12,050,897
80$17,128,650$5,072,524$3,412,929$13,100,667
81$18,802,278$5,247,583$3,453,768$14,252,614
82$20,644,302$5,428,906$3,493,660$15,517,027
83$22,671,824$5,616,725$3,532,501$16,905,243
84$24,903,689$5,811,284$3,570,180$18,429,750
85$27,360,665$6,012,836$3,606,580$20,104,309
86$30,065,631$6,221,644$3,641,578$21,944,078
87$33,043,800$6,437,979$3,675,046$23,965,759
88$36,322,954$6,662,126$3,706,846$26,187,751
89$39,933,705$6,894,380$3,736,835$28,630,329
90$43,909,785$7,135,048$3,764,862$31,315,829
91$48,288,366$7,384,447$3,790,768$34,268,863
92$53,110,405$7,642,911$3,814,384$37,516,548
93$58,421,035$7,910,783$3,835,535$41,088,761
94$64,269,991$8,188,421$3,854,036$45,018,424
95$70,712,076$8,476,200$3,869,692$49,341,812
96$77,807,680$8,774,505$3,882,298$54,098,893
97$85,623,349$9,083,742$3,891,641$59,333,709
98$94,232,413$9,404,328$3,897,494$65,094,787
99$103,715,680$9,736,701$3,899,620$71,435,599
100$114,162,195$10,081,314$3,897,773$78,415,066