Can I retire at age 59 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$199,841$198,061$196,325$194,629$192,974$189,001
2 years$98,931$97,089$95,303$93,572$91,892$87,907
3 years$65,299$63,449$61,667$59,952$58,300$54,428
4 years$48,486$46,641$44,878$43,192$41,580$37,850
5 years$38,401$36,567$34,827$33,176$31,609$28,032
6 years$31,680$29,860$28,146$26,531$25,011$21,591
7 years$26,881$25,076$23,389$21,813$20,341$17,078
8 years$23,283$21,495$19,836$18,298$16,874$13,769
9 years$20,487$18,715$17,085$15,586$14,211$11,260
10 years$18,251$16,497$14,895$13,435$12,108$9,309
11 years$16,423$14,686$13,113$11,693$10,413$7,762
12 years$14,900$13,181$11,638$10,256$9,024$6,517
13 years$13,613$11,912$10,397$9,055$7,869$5,502
14 years$12,510$10,828$9,342$8,038$6,898$4,666
15 years$11,556$9,891$8,435$7,168$6,074$3,972
16 years$10,722$9,075$7,647$6,418$5,368$3,392
17 years$9,986$8,358$6,959$5,767$4,760$2,904
18 years$9,333$7,723$6,352$5,197$4,232$2,492
19 years$8,749$7,158$5,815$4,696$3,772$2,143
20 years$8,225$6,651$5,337$4,253$3,369$1,845
21 years$7,751$6,195$4,909$3,860$3,015$1,591
22 years$7,320$5,783$4,524$3,510$2,703$1,373
23 years$6,928$5,409$4,177$3,196$2,426$1,187
24 years$6,569$5,068$3,863$2,915$2,181$1,026
25 years$6,239$4,756$3,578$2,662$1,962$888
26 years$5,935$4,470$3,319$2,434$1,767$769
27 years$5,654$4,207$3,082$2,228$1,594$667
28 years$5,394$3,964$2,865$2,041$1,438$578
29 years$5,152$3,739$2,666$1,872$1,298$501
30 years$4,926$3,531$2,483$1,718$1,173$435
31 years$4,716$3,338$2,315$1,578$1,061$377
32 years$4,519$3,159$2,160$1,450$959$328
33 years$4,334$2,991$2,017$1,334$868$284
34 years$4,160$2,835$1,884$1,227$786$247
35 years$3,997$2,689$1,762$1,129$712$214
36 years$3,844$2,552$1,648$1,040$645$186
37 years$3,698$2,424$1,543$958$585$162
38 years$3,561$2,304$1,445$883$530$141
39 years$3,432$2,191$1,353$815$481$122
40 years$3,309$2,084$1,269$751$436$106
41 years$3,192$1,984$1,190$693$396$92
42 years$3,081$1,890$1,116$640$359$80
43 years$2,976$1,800$1,047$591$326$70
44 years$2,875$1,716$983$545$296$61
45 years$2,780$1,636$923$504$268$53
46 years$2,689$1,561$867$465$244$46
47 years$2,602$1,490$814$430$221$40
48 years$2,518$1,422$765$397$201$35
49 years$2,439$1,358$719$367$183$30
50 years$2,363$1,297$676$339$166$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,420,000, adding $2,021 every year, while hoping to spend $50,033 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: 52/26/22 Blend
58$2,420,000$2,420,000$2,420,000$2,420,000
59$2,668,925$2,540,665$2,503,155$2,791,331
60$2,887,920$2,611,923$2,533,776$2,947,268
61$3,127,577$2,684,995$2,563,745$3,111,468
62$3,389,948$2,759,919$2,592,990$3,289,027
63$3,677,297$2,836,729$2,621,429$3,481,236
64$3,992,115$2,915,463$2,648,981$3,689,512
65$4,337,147$2,996,156$2,675,558$3,915,419
66$4,715,413$3,078,845$2,701,066$4,160,677
67$5,130,243$3,163,566$2,725,410$4,427,180
68$5,585,302$3,250,355$2,748,485$4,717,017
69$6,084,628$3,339,248$2,770,184$5,032,487
70$6,632,668$3,430,279$2,790,394$5,376,121
71$7,234,322$3,523,484$2,808,994$5,750,709
72$7,894,986$3,618,898$2,825,858$6,159,326
73$8,620,605$3,716,554$2,840,854$6,605,357
74$9,417,727$3,816,486$2,853,843$7,092,532
75$10,293,566$3,918,725$2,864,679$7,624,961
76$11,256,072$4,023,304$2,873,207$8,207,172
77$12,313,998$4,130,253$2,879,266$8,844,155
78$13,476,992$4,239,602$2,882,688$9,541,407
79$14,755,681$4,351,378$2,883,293$10,304,984
80$16,161,773$4,465,608$2,880,896$11,141,563
81$17,708,168$4,582,317$2,875,301$12,058,496
82$19,409,080$4,701,529$2,866,302$13,063,889
83$21,280,166$4,823,264$2,853,684$14,166,673
84$23,338,682$4,947,543$2,837,220$15,376,687
85$25,603,636$5,074,381$2,816,676$16,704,777
86$28,095,974$5,203,793$2,791,802$18,162,893
87$30,838,775$5,335,790$2,762,339$19,764,205
88$33,857,468$5,470,382$2,728,015$21,523,224
89$37,180,070$5,607,572$2,688,544$23,455,943
90$40,837,457$5,747,362$2,643,630$25,579,988
91$44,863,645$5,889,750$2,592,959$27,914,779
92$49,296,118$6,034,729$2,536,204$30,481,722
93$54,176,180$6,182,288$2,473,025$33,304,403
94$59,549,341$6,332,411$2,403,062$36,408,818
95$65,465,751$6,485,077$2,325,942$39,823,614
96$71,980,670$6,640,258$2,241,274$43,580,359
97$79,154,990$6,797,922$2,148,647$47,713,846
98$87,055,807$6,958,028$2,047,635$52,262,417
99$95,757,058$7,120,530$1,937,789$57,268,326
100$105,340,215$7,285,374$1,818,643$62,778,139