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%18%
1 years$199,841$198,061$196,325$194,629$192,974$186,722
2 years$98,931$97,089$95,303$93,572$91,892$85,652
3 years$65,299$63,449$61,667$59,952$58,300$52,268
4 years$48,486$46,641$44,878$43,192$41,580$35,802
5 years$38,401$36,567$34,827$33,176$31,609$26,100
6 years$31,680$29,860$28,146$26,531$25,011$19,776
7 years$26,881$25,076$23,389$21,813$20,341$15,379
8 years$23,283$21,495$19,836$18,298$16,874$12,183
9 years$20,487$18,715$17,085$15,586$14,211$9,783
10 years$18,251$16,497$14,895$13,435$12,108$7,938
11 years$16,423$14,686$13,113$11,693$10,413$6,494
12 years$14,900$13,181$11,638$10,256$9,024$5,345
13 years$13,613$11,912$10,397$9,055$7,869$4,423
14 years$12,510$10,828$9,342$8,038$6,898$3,674
15 years$11,556$9,891$8,435$7,168$6,074$3,063
16 years$10,722$9,075$7,647$6,418$5,368$2,560
17 years$9,986$8,358$6,959$5,767$4,760$2,145
18 years$9,333$7,723$6,352$5,197$4,232$1,800
19 years$8,749$7,158$5,815$4,696$3,772$1,513
20 years$8,225$6,651$5,337$4,253$3,369$1,273
21 years$7,751$6,195$4,909$3,860$3,015$1,073
22 years$7,320$5,783$4,524$3,510$2,703$905
23 years$6,928$5,409$4,177$3,196$2,426$764
24 years$6,569$5,068$3,863$2,915$2,181$645
25 years$6,239$4,756$3,578$2,662$1,962$545
26 years$5,935$4,470$3,319$2,434$1,767$461
27 years$5,654$4,207$3,082$2,228$1,594$390
28 years$5,394$3,964$2,865$2,041$1,438$330
29 years$5,152$3,739$2,666$1,872$1,298$279
30 years$4,926$3,531$2,483$1,718$1,173$236
31 years$4,716$3,338$2,315$1,578$1,061$200
32 years$4,519$3,159$2,160$1,450$959$169
33 years$4,334$2,991$2,017$1,334$868$143
34 years$4,160$2,835$1,884$1,227$786$121
35 years$3,997$2,689$1,762$1,129$712$103
36 years$3,844$2,552$1,648$1,040$645$87
37 years$3,698$2,424$1,543$958$585$74
38 years$3,561$2,304$1,445$883$530$62
39 years$3,432$2,191$1,353$815$481$53
40 years$3,309$2,084$1,269$751$436$45
41 years$3,192$1,984$1,190$693$396$38
42 years$3,081$1,890$1,116$640$359$32
43 years$2,976$1,800$1,047$591$326$27
44 years$2,875$1,716$983$545$296$23
45 years$2,780$1,636$923$504$268$20
46 years$2,689$1,561$867$465$244$17
47 years$2,602$1,490$814$430$221$14
48 years$2,518$1,422$765$397$201$12
49 years$2,439$1,358$719$367$183$10
50 years$2,363$1,297$676$339$166$9

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 $2,508 every year, while hoping to spend $53,771 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: 81/12/7 Blend
58$2,420,000$2,420,000$2,420,000$2,420,000
59$2,669,427$2,541,167$2,503,657$2,883,558
60$2,884,497$2,608,472$2,530,318$3,091,367
61$3,119,701$2,677,273$2,556,069$3,312,003
62$3,377,038$2,747,587$2,580,824$3,552,517
63$3,658,705$2,819,428$2,604,491$3,814,869
64$3,967,124$2,892,811$2,626,973$4,101,214
65$4,304,962$2,967,750$2,648,168$4,413,927
66$4,675,155$3,044,257$2,667,969$4,755,623
67$5,080,937$3,122,342$2,686,262$5,129,182
68$5,525,870$3,202,014$2,702,929$5,537,776
69$6,013,876$3,283,279$2,717,844$5,984,899
70$6,549,276$3,366,145$2,730,877$6,474,398
71$7,136,830$3,450,613$2,741,889$7,010,513
72$7,781,779$3,536,686$2,750,734$7,597,912
73$8,489,898$3,624,361$2,757,262$8,241,740
74$9,267,548$3,713,636$2,761,311$8,947,662
75$10,121,737$3,804,503$2,762,713$9,721,920
76$11,060,183$3,896,952$2,761,293$10,571,391
77$12,091,391$3,990,972$2,756,865$11,503,652
78$13,224,728$4,086,545$2,749,235$12,527,047
79$14,470,516$4,183,651$2,738,201$13,650,774
80$15,840,126$4,282,267$2,723,548$14,884,964
81$17,346,085$4,382,365$2,705,053$16,240,780
82$19,002,195$4,483,910$2,682,482$17,730,521
83$20,823,663$4,586,866$2,655,589$19,367,738
84$22,827,243$4,691,189$2,624,117$21,167,363
85$25,031,395$4,796,829$2,587,798$23,145,848
86$27,456,456$4,903,733$2,546,349$25,321,320
87$30,124,838$5,011,839$2,499,474$27,713,755
88$33,061,231$5,121,079$2,446,866$30,345,162
89$36,292,841$5,231,377$2,388,201$33,239,792
90$39,849,645$5,342,649$2,323,140$36,424,369
91$43,764,674$5,454,804$2,251,331$39,928,340
92$48,074,323$5,567,741$2,172,402$43,784,153
93$52,818,693$5,681,350$2,085,967$48,027,563
94$58,041,975$5,795,510$1,991,621$52,697,969
95$63,792,858$5,910,092$1,888,942$57,838,787
96$70,124,994$6,024,952$1,777,487$63,497,859
97$77,097,505$6,139,936$1,656,794$69,727,905
98$84,775,534$6,254,876$1,526,380$76,587,017
99$93,230,866$6,369,592$1,385,742$84,139,213
100$102,542,601$6,483,889$1,234,350$92,455,038