Can I retire at age 59 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$201,493$199,698$197,947$196,238$194,569$189,788
2 years$99,749$97,891$96,091$94,345$92,652$87,865
3 years$65,839$63,973$62,177$60,448$58,782$54,139
4 years$48,887$47,027$45,249$43,549$41,924$37,459
5 years$38,719$36,870$35,115$33,450$31,870$27,597
6 years$31,942$30,107$28,378$26,750$25,218$21,141
7 years$27,103$25,284$23,582$21,993$20,509$16,628
8 years$23,476$21,673$20,000$18,449$17,014$13,328
9 years$20,656$18,870$17,226$15,715$14,328$10,834
10 years$18,402$16,633$15,018$13,546$12,208$8,901
11 years$16,558$14,807$13,221$11,789$10,500$7,375
12 years$15,023$13,290$11,734$10,341$9,099$6,152
13 years$13,725$12,011$10,483$9,129$7,934$5,159
14 years$12,614$10,917$9,419$8,104$6,955$4,346
15 years$11,651$9,973$8,504$7,227$6,124$3,674
16 years$10,810$9,150$7,710$6,471$5,412$3,115
17 years$10,069$8,427$7,016$5,814$4,799$2,648
18 years$9,410$7,787$6,405$5,240$4,267$2,256
19 years$8,822$7,217$5,863$4,735$3,803$1,925
20 years$8,293$6,706$5,381$4,288$3,397$1,645
21 years$7,815$6,247$4,950$3,892$3,040$1,408
22 years$7,381$5,831$4,562$3,539$2,725$1,206
23 years$6,985$5,454$4,212$3,223$2,446$1,034
24 years$6,623$5,110$3,895$2,939$2,199$887
25 years$6,291$4,795$3,608$2,684$1,978$762
26 years$5,984$4,507$3,346$2,454$1,782$654
27 years$5,701$4,241$3,107$2,247$1,607$562
28 years$5,438$3,997$2,889$2,058$1,450$484
29 years$5,194$3,770$2,688$1,888$1,309$416
30 years$4,967$3,561$2,504$1,732$1,183$358
31 years$4,754$3,366$2,334$1,591$1,069$308
32 years$4,556$3,185$2,178$1,462$967$265
33 years$4,370$3,016$2,033$1,345$875$228
34 years$4,195$2,859$1,900$1,237$793$197
35 years$4,030$2,711$1,776$1,139$718$169
36 years$3,875$2,573$1,662$1,049$650$146
37 years$3,729$2,444$1,555$966$590$126
38 years$3,591$2,323$1,457$891$534$108
39 years$3,460$2,209$1,365$821$485$93
40 years$3,336$2,102$1,279$758$440$80
41 years$3,218$2,000$1,199$699$399$69
42 years$3,106$1,905$1,125$645$362$60
43 years$3,000$1,815$1,056$595$328$51
44 years$2,899$1,730$991$550$298$44
45 years$2,803$1,650$930$508$271$38
46 years$2,711$1,574$874$469$246$33
47 years$2,623$1,502$821$433$223$28
48 years$2,539$1,434$772$400$203$24
49 years$2,459$1,369$725$370$184$21
50 years$2,382$1,308$682$342$167$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,440,000, adding $5,067 every year, while hoping to spend $43,913 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: 48/45/7 Blend
58$2,440,000$2,440,000$2,440,000$2,440,000
59$2,694,107$2,564,787$2,526,967$2,818,212
60$2,922,182$2,643,738$2,564,897$2,982,679
61$3,172,050$2,725,086$2,602,626$3,156,087
62$3,445,886$2,808,903$2,640,101$3,343,323
63$3,746,088$2,895,260$2,677,265$3,545,686
64$4,075,294$2,984,233$2,714,060$3,764,604
65$4,436,414$3,075,900$2,750,420$4,001,646
66$4,832,649$3,170,340$2,786,280$4,258,539
67$5,267,527$3,267,635$2,821,569$4,537,183
68$5,744,935$3,367,869$2,856,211$4,839,668
69$6,269,151$3,471,128$2,890,127$5,168,293
70$6,844,892$3,577,500$2,923,234$5,525,588
71$7,477,352$3,687,079$2,955,443$5,914,338
72$8,172,252$3,799,956$2,986,661$6,337,607
73$8,935,897$3,916,229$3,016,789$6,798,767
74$9,775,231$4,035,997$3,045,724$7,301,533
75$10,697,906$4,159,361$3,073,356$7,849,990
76$11,712,349$4,286,427$3,099,571$8,448,640
77$12,827,848$4,417,301$3,124,246$9,102,436
78$14,054,634$4,552,095$3,147,254$9,816,834
79$15,403,981$4,690,921$3,168,461$10,597,840
80$16,888,308$4,833,897$3,187,725$11,452,069
81$18,521,299$4,981,142$3,204,898$12,386,807
82$20,318,033$5,132,779$3,219,823$13,410,074
83$22,295,121$5,288,935$3,232,336$14,530,707
84$24,470,869$5,449,738$3,242,265$15,758,436
85$26,865,446$5,615,323$3,249,429$17,103,981
86$29,501,073$5,785,826$3,253,636$18,579,147
87$32,402,238$5,961,387$3,254,689$20,196,939
88$35,595,921$6,142,150$3,252,376$21,971,681
89$39,111,853$6,328,263$3,246,478$23,919,154
90$42,982,792$6,519,878$3,236,765$26,056,740
91$47,244,835$6,717,150$3,222,995$28,403,590
92$51,937,757$6,920,239$3,204,914$30,980,801
93$57,105,386$7,129,309$3,182,257$33,811,613
94$62,796,018$7,344,527$3,154,745$36,921,634
95$69,062,870$7,566,067$3,122,087$40,339,073
96$75,964,582$7,794,104$3,083,977$44,095,011
97$83,565,775$8,028,820$3,040,095$48,223,690
98$91,937,652$8,270,401$2,990,106$52,762,840
99$101,158,678$8,519,036$2,933,661$57,754,030
100$111,315,316$8,774,921$2,870,391$63,243,060