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%16.8%
1 years$199,841$198,061$196,325$194,629$192,974$187,624
2 years$98,931$97,089$95,303$93,572$91,892$86,543
3 years$65,299$63,449$61,667$59,952$58,300$53,118
4 years$48,486$46,641$44,878$43,192$41,580$36,605
5 years$38,401$36,567$34,827$33,176$31,609$26,854
6 years$31,680$29,860$28,146$26,531$25,011$20,482
7 years$26,881$25,076$23,389$21,813$20,341$16,037
8 years$23,283$21,495$19,836$18,298$16,874$12,794
9 years$20,487$18,715$17,085$15,586$14,211$10,350
10 years$18,251$16,497$14,895$13,435$12,108$8,461
11 years$16,423$14,686$13,113$11,693$10,413$6,975
12 years$14,900$13,181$11,638$10,256$9,024$5,788
13 years$13,613$11,912$10,397$9,055$7,869$4,828
14 years$12,510$10,828$9,342$8,038$6,898$4,044
15 years$11,556$9,891$8,435$7,168$6,074$3,400
16 years$10,722$9,075$7,647$6,418$5,368$2,866
17 years$9,986$8,358$6,959$5,767$4,760$2,422
18 years$9,333$7,723$6,352$5,197$4,232$2,051
19 years$8,749$7,158$5,815$4,696$3,772$1,740
20 years$8,225$6,651$5,337$4,253$3,369$1,478
21 years$7,751$6,195$4,909$3,860$3,015$1,257
22 years$7,320$5,783$4,524$3,510$2,703$1,070
23 years$6,928$5,409$4,177$3,196$2,426$912
24 years$6,569$5,068$3,863$2,915$2,181$777
25 years$6,239$4,756$3,578$2,662$1,962$663
26 years$5,935$4,470$3,319$2,434$1,767$566
27 years$5,654$4,207$3,082$2,228$1,594$483
28 years$5,394$3,964$2,865$2,041$1,438$413
29 years$5,152$3,739$2,666$1,872$1,298$353
30 years$4,926$3,531$2,483$1,718$1,173$302
31 years$4,716$3,338$2,315$1,578$1,061$258
32 years$4,519$3,159$2,160$1,450$959$221
33 years$4,334$2,991$2,017$1,334$868$189
34 years$4,160$2,835$1,884$1,227$786$161
35 years$3,997$2,689$1,762$1,129$712$138
36 years$3,844$2,552$1,648$1,040$645$118
37 years$3,698$2,424$1,543$958$585$101
38 years$3,561$2,304$1,445$883$530$86
39 years$3,432$2,191$1,353$815$481$74
40 years$3,309$2,084$1,269$751$436$63
41 years$3,192$1,984$1,190$693$396$54
42 years$3,081$1,890$1,116$640$359$46
43 years$2,976$1,800$1,047$591$326$40
44 years$2,875$1,716$983$545$296$34
45 years$2,780$1,636$923$504$268$29
46 years$2,689$1,561$867$465$244$25
47 years$2,602$1,490$814$430$221$21
48 years$2,518$1,422$765$397$201$18
49 years$2,439$1,358$719$367$183$16
50 years$2,363$1,297$676$339$166$13

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 $5,564 every year, while hoping to spend $27,244 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: 49/42/9 Blend
58$2,420,000$2,420,000$2,420,000$2,420,000
59$2,672,579$2,544,319$2,506,809$2,796,864
60$2,916,195$2,640,004$2,561,800$2,978,238
61$3,183,746$2,739,463$2,617,720$3,171,799
62$3,477,646$2,842,854$2,674,571$3,381,409
63$3,800,552$2,950,340$2,732,355$3,608,574
64$4,155,392$3,062,091$2,791,073$3,854,951
65$4,545,393$3,178,284$2,850,724$4,122,360
66$4,974,107$3,299,104$2,911,308$4,412,801
67$5,445,450$3,424,744$2,972,820$4,728,474
68$5,963,735$3,555,406$3,035,260$5,071,796
69$6,533,715$3,691,300$3,098,620$5,445,426
70$7,160,627$3,832,646$3,162,896$5,852,288
71$7,850,238$3,979,673$3,228,080$6,295,596
72$8,608,905$4,132,620$3,294,164$6,778,887
73$9,443,631$4,291,736$3,361,136$7,306,053
74$10,362,133$4,457,283$3,428,986$7,881,374
75$11,372,913$4,629,532$3,497,699$8,509,559
76$12,485,338$4,808,767$3,567,260$9,195,791
77$13,709,730$4,995,284$3,637,651$9,945,772
78$15,057,464$5,189,394$3,708,854$10,765,779
79$16,541,071$5,391,420$3,780,846$11,662,719
80$18,174,359$5,601,699$3,853,603$12,644,196
81$19,972,545$5,820,584$3,927,100$13,718,578
82$21,952,395$6,048,442$4,001,308$14,895,078
83$24,132,383$6,285,660$4,076,196$16,183,840
84$26,532,866$6,532,637$4,151,729$17,596,029
85$29,176,276$6,789,795$4,227,870$19,143,940
86$32,087,332$7,057,570$4,304,579$20,841,109
87$35,293,270$7,336,421$4,381,812$22,702,442
88$38,824,104$7,626,826$4,459,524$24,744,352
89$42,712,908$7,929,286$4,537,662$26,984,914
90$46,996,124$8,244,321$4,616,174$29,444,031
91$51,713,914$8,572,477$4,695,001$32,143,625
92$56,910,530$8,914,326$4,774,080$35,107,836
93$62,634,738$9,270,461$4,853,345$38,363,254
94$68,940,273$9,641,506$4,932,725$41,939,163
95$75,886,352$10,028,111$5,012,142$45,867,817
96$83,538,228$10,430,956$5,091,517$50,184,744
97$91,967,806$10,850,752$5,170,762$54,929,078
98$101,254,325$11,288,241$5,249,784$60,143,923
99$111,485,101$11,744,200$5,328,487$65,876,763
100$122,756,356$12,219,440$5,406,766$72,179,902