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%16.2%
1 years$201,493$199,698$197,947$196,238$194,569$189,635
2 years$99,749$97,891$96,091$94,345$92,652$87,713
3 years$65,839$63,973$62,177$60,448$58,782$53,992
4 years$48,887$47,027$45,249$43,549$41,924$37,321
5 years$38,719$36,870$35,115$33,450$31,870$27,466
6 years$31,942$30,107$28,378$26,750$25,218$21,017
7 years$27,103$25,284$23,582$21,993$20,509$16,512
8 years$23,476$21,673$20,000$18,449$17,014$13,219
9 years$20,656$18,870$17,226$15,715$14,328$10,733
10 years$18,402$16,633$15,018$13,546$12,208$8,807
11 years$16,558$14,807$13,221$11,789$10,500$7,288
12 years$15,023$13,290$11,734$10,341$9,099$6,071
13 years$13,725$12,011$10,483$9,129$7,934$5,085
14 years$12,614$10,917$9,419$8,104$6,955$4,277
15 years$11,651$9,973$8,504$7,227$6,124$3,611
16 years$10,810$9,150$7,710$6,471$5,412$3,057
17 years$10,069$8,427$7,016$5,814$4,799$2,595
18 years$9,410$7,787$6,405$5,240$4,267$2,207
19 years$8,822$7,217$5,863$4,735$3,803$1,881
20 years$8,293$6,706$5,381$4,288$3,397$1,605
21 years$7,815$6,247$4,950$3,892$3,040$1,371
22 years$7,381$5,831$4,562$3,539$2,725$1,173
23 years$6,985$5,454$4,212$3,223$2,446$1,004
24 years$6,623$5,110$3,895$2,939$2,199$860
25 years$6,291$4,795$3,608$2,684$1,978$737
26 years$5,984$4,507$3,346$2,454$1,782$632
27 years$5,701$4,241$3,107$2,247$1,607$543
28 years$5,438$3,997$2,889$2,058$1,450$466
29 years$5,194$3,770$2,688$1,888$1,309$400
30 years$4,967$3,561$2,504$1,732$1,183$344
31 years$4,754$3,366$2,334$1,591$1,069$295
32 years$4,556$3,185$2,178$1,462$967$254
33 years$4,370$3,016$2,033$1,345$875$218
34 years$4,195$2,859$1,900$1,237$793$188
35 years$4,030$2,711$1,776$1,139$718$161
36 years$3,875$2,573$1,662$1,049$650$139
37 years$3,729$2,444$1,555$966$590$119
38 years$3,591$2,323$1,457$891$534$103
39 years$3,460$2,209$1,365$821$485$88
40 years$3,336$2,102$1,279$758$440$76
41 years$3,218$2,000$1,199$699$399$65
42 years$3,106$1,905$1,125$645$362$56
43 years$3,000$1,815$1,056$595$328$48
44 years$2,899$1,730$991$550$298$42
45 years$2,803$1,650$930$508$271$36
46 years$2,711$1,574$874$469$246$31
47 years$2,623$1,502$821$433$223$26
48 years$2,539$1,434$772$400$203$23
49 years$2,459$1,369$725$370$184$20
50 years$2,382$1,308$682$342$167$17

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 $2,962 every year, while hoping to spend $24,953 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: 40/31/29 Blend
58$2,440,000$2,440,000$2,440,000$2,440,000
59$2,691,935$2,562,615$2,524,795$2,776,460
60$2,939,963$2,661,634$2,582,826$2,937,328
61$3,212,453$2,764,668$2,641,965$3,108,727
62$3,511,874$2,871,888$2,702,222$3,293,696
63$3,840,947$2,983,471$2,763,608$3,493,494
64$4,202,667$3,099,605$2,826,132$3,709,505
65$4,600,336$3,220,482$2,889,804$3,943,251
66$5,037,590$3,346,306$2,954,633$4,196,404
67$5,518,437$3,477,288$3,020,626$4,470,801
68$6,047,292$3,613,649$3,087,790$4,768,461
69$6,629,017$3,755,619$3,156,133$5,091,607
70$7,268,973$3,903,441$3,225,660$5,442,681
71$7,973,064$4,057,365$3,296,375$5,824,368
72$8,747,796$4,217,656$3,368,283$6,239,624
73$9,600,338$4,384,587$3,441,387$6,691,699
74$10,538,586$4,558,446$3,515,688$7,184,167
75$11,571,246$4,739,534$3,591,187$7,720,964
76$12,707,905$4,928,162$3,667,883$8,306,418
77$13,959,129$5,124,660$3,745,775$8,945,293
78$15,336,561$5,329,370$3,824,860$9,642,830
79$16,853,030$5,542,649$3,905,132$10,404,801
80$18,522,671$5,764,870$3,986,586$11,237,555
81$20,361,060$5,996,426$4,069,214$12,148,083
82$22,385,361$6,237,724$4,153,005$13,144,082
83$24,614,486$6,489,190$4,237,949$14,234,022
84$27,069,275$6,751,272$4,324,032$15,427,232
85$29,772,692$7,024,435$4,411,238$16,733,981
86$32,750,042$7,309,168$4,499,549$18,165,576
87$36,029,208$7,605,979$4,588,946$19,734,469
88$39,640,917$7,915,401$4,679,406$21,454,371
89$43,619,027$8,237,993$4,770,902$23,340,379
90$48,000,849$8,574,335$4,863,408$25,409,122
91$52,827,496$8,925,038$4,956,893$27,678,911
92$58,144,273$9,290,738$5,051,322$30,169,914
93$64,001,106$9,672,101$5,146,658$32,904,343
94$70,453,008$10,069,823$5,242,860$35,906,663
95$77,560,604$10,484,633$5,339,885$39,203,821
96$85,390,698$10,917,293$5,437,684$42,825,498
97$94,016,908$11,368,599$5,536,205$46,804,387
98$103,520,356$11,839,384$5,635,391$51,176,502
99$113,990,438$12,330,519$5,735,182$55,981,514
100$125,525,665$12,842,917$5,835,514$61,263,124