Can I retire at age 59 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$198,190$196,424$194,702$193,021$191,379$186,224
2 years$98,114$96,286$94,516$92,799$91,133$85,976
3 years$64,759$62,924$61,158$59,457$57,819$52,821
4 years$48,086$46,256$44,507$42,835$41,237$36,437
5 years$38,084$36,265$34,539$32,902$31,347$26,759
6 years$31,418$29,613$27,913$26,312$24,804$20,432
7 years$26,659$24,869$23,196$21,632$20,172$16,016
8 years$23,091$21,318$19,672$18,147$16,735$12,792
9 years$20,318$18,561$16,943$15,457$14,093$10,361
10 years$18,100$16,360$14,772$13,324$12,008$8,481
11 years$16,287$14,565$13,005$11,596$10,327$7,000
12 years$14,777$13,072$11,541$10,171$8,950$5,816
13 years$13,500$11,814$10,311$8,980$7,804$4,858
14 years$12,407$10,738$9,265$7,971$6,841$4,075
15 years$11,460$9,810$8,365$7,109$6,023$3,431
16 years$10,633$9,000$7,584$6,365$5,324$2,896
17 years$9,904$8,289$6,901$5,719$4,720$2,451
18 years$9,256$7,659$6,300$5,154$4,197$2,079
19 years$8,677$7,099$5,767$4,657$3,741$1,766
20 years$8,157$6,596$5,293$4,218$3,341$1,502
21 years$7,687$6,144$4,868$3,828$2,990$1,280
22 years$7,260$5,735$4,487$3,481$2,680$1,091
23 years$6,871$5,364$4,143$3,170$2,406$931
24 years$6,515$5,026$3,832$2,891$2,163$795
25 years$6,188$4,717$3,549$2,640$1,946$679
26 years$5,886$4,433$3,291$2,414$1,753$581
27 years$5,607$4,172$3,056$2,210$1,580$497
28 years$5,349$3,931$2,841$2,025$1,426$425
29 years$5,109$3,708$2,644$1,857$1,288$364
30 years$4,885$3,502$2,463$1,704$1,163$312
31 years$4,677$3,311$2,296$1,565$1,052$267
32 years$4,481$3,133$2,142$1,438$951$229
33 years$4,298$2,967$2,000$1,323$861$196
34 years$4,126$2,812$1,869$1,217$780$168
35 years$3,964$2,667$1,747$1,120$706$144
36 years$3,812$2,531$1,634$1,032$640$123
37 years$3,668$2,404$1,530$951$580$106
38 years$3,532$2,285$1,433$876$526$91
39 years$3,403$2,173$1,342$808$477$78
40 years$3,281$2,067$1,258$745$432$67
41 years$3,165$1,968$1,180$687$392$57
42 years$3,056$1,874$1,107$634$356$49
43 years$2,951$1,785$1,038$586$323$42
44 years$2,852$1,702$975$541$293$36
45 years$2,757$1,623$915$499$266$31
46 years$2,666$1,548$860$461$242$26
47 years$2,580$1,477$808$426$219$23
48 years$2,498$1,410$759$394$199$19
49 years$2,419$1,347$713$364$181$17
50 years$2,343$1,287$671$336$164$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,400,000, adding $2,594 every year, while hoping to spend $47,762 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: 41/46/13 Blend
58$2,400,000$2,400,000$2,400,000$2,400,000
59$2,647,476$2,520,276$2,483,076$2,745,746
60$2,866,700$2,592,951$2,515,440$2,887,889
61$3,106,684$2,667,586$2,547,288$3,036,722
62$3,369,495$2,744,228$2,578,552$3,196,762
63$3,657,410$2,822,921$2,609,160$3,369,050
64$3,972,936$2,903,714$2,639,037$3,554,731
65$4,318,833$2,986,653$2,668,102$3,755,065
66$4,698,141$3,071,787$2,696,271$3,971,438
67$5,114,212$3,159,165$2,723,456$4,205,375
68$5,570,732$3,248,835$2,749,563$4,458,554
69$6,071,766$3,340,847$2,774,492$4,732,821
70$6,621,790$3,435,251$2,798,141$5,030,209
71$7,225,733$3,532,099$2,820,399$5,352,956
72$7,889,026$3,631,441$2,841,151$5,703,524
73$8,617,653$3,733,328$2,860,276$6,084,626
74$9,418,204$3,837,811$2,877,646$6,499,247
75$10,297,940$3,944,943$2,893,126$6,950,675
76$11,264,860$4,054,776$2,906,576$7,442,529
77$12,327,777$4,167,361$2,917,848$7,978,798
78$13,496,399$4,282,750$2,926,784$8,563,872
79$14,781,423$4,400,996$2,933,223$9,202,588
80$16,194,634$4,522,151$2,936,992$9,900,271
81$17,749,016$4,646,266$2,937,910$10,662,790
82$19,458,875$4,773,391$2,935,789$11,496,608
83$21,339,972$4,903,579$2,930,429$12,408,843
84$23,409,674$5,036,880$2,921,624$13,407,340
85$25,687,115$5,173,342$2,909,153$14,500,739
86$28,193,381$5,313,015$2,892,789$15,698,557
87$30,951,699$5,455,947$2,872,292$17,011,284
88$33,987,669$5,602,184$2,847,409$18,450,472
89$37,329,492$5,751,772$2,817,878$20,028,851
90$41,008,246$5,904,755$2,783,423$21,760,447
91$45,058,174$6,061,175$2,743,755$23,660,714
92$49,517,008$6,221,073$2,698,571$25,746,678
93$54,426,325$6,384,487$2,647,555$28,037,102
94$59,831,937$6,551,454$2,590,375$30,552,658
95$65,784,326$6,722,007$2,526,685$33,316,124
96$72,339,120$6,896,178$2,456,121$36,352,600
97$79,557,613$7,073,993$2,378,304$39,689,744
98$87,507,350$7,255,479$2,292,838$43,358,032
99$96,262,758$7,440,656$2,199,306$47,391,046
100$105,905,852$7,629,541$2,097,275$51,825,794