Can I retire at age 59 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$204,796$202,972$201,192$199,455$197,759$196,348
2 years$101,384$99,496$97,666$95,892$94,171$92,748
3 years$66,918$65,022$63,196$61,439$59,746$58,355
4 years$49,688$47,798$45,991$44,263$42,611$41,264
5 years$39,353$37,474$35,691$33,998$32,392$31,092
6 years$32,465$30,600$28,843$27,189$25,631$24,379
7 years$27,548$25,698$23,969$22,353$20,845$19,642
8 years$23,861$22,028$20,328$18,752$17,293$16,139
9 years$20,995$19,179$17,508$15,972$14,563$13,458
10 years$18,703$16,906$15,264$13,768$12,408$11,352
11 years$16,830$15,050$13,438$11,983$10,672$9,663
12 years$15,270$13,508$11,926$10,510$9,248$8,286
13 years$13,950$12,207$10,655$9,279$8,064$7,148
14 years$12,821$11,096$9,574$8,237$7,069$6,197
15 years$11,842$10,137$8,644$7,346$6,224$5,396
16 years$10,987$9,300$7,837$6,577$5,501$4,714
17 years$10,234$8,565$7,131$5,910$4,878$4,132
18 years$9,564$7,915$6,510$5,326$4,337$3,631
19 years$8,966$7,335$5,959$4,812$3,866$3,197
20 years$8,429$6,816$5,469$4,359$3,453$2,821
21 years$7,943$6,349$5,031$3,956$3,090$2,494
22 years$7,502$5,927$4,637$3,597$2,770$2,207
23 years$7,100$5,543$4,281$3,275$2,486$1,957
24 years$6,732$5,193$3,959$2,987$2,235$1,736
25 years$6,394$4,874$3,667$2,728$2,011$1,542
26 years$6,082$4,581$3,401$2,495$1,811$1,371
27 years$5,794$4,311$3,158$2,283$1,633$1,220
28 years$5,527$4,062$2,936$2,092$1,474$1,086
29 years$5,279$3,832$2,732$1,918$1,331$967
30 years$5,048$3,619$2,545$1,761$1,202$862
31 years$4,832$3,421$2,373$1,617$1,087$769
32 years$4,631$3,237$2,214$1,486$983$686
33 years$4,441$3,066$2,067$1,367$890$612
34 years$4,264$2,905$1,931$1,257$806$547
35 years$4,096$2,756$1,805$1,157$730$488
36 years$3,939$2,616$1,689$1,066$661$436
37 years$3,790$2,484$1,581$982$599$390
38 years$3,650$2,361$1,480$905$543$348
39 years$3,517$2,245$1,387$835$493$311
40 years$3,391$2,136$1,300$770$447$278
41 years$3,271$2,033$1,219$710$405$249
42 years$3,157$1,936$1,143$656$368$222
43 years$3,049$1,845$1,073$605$334$199
44 years$2,947$1,759$1,007$559$303$178
45 years$2,849$1,677$946$516$275$159
46 years$2,755$1,600$888$477$250$142
47 years$2,666$1,527$834$440$227$127
48 years$2,581$1,457$784$407$206$114
49 years$2,499$1,392$737$376$187$102
50 years$2,421$1,330$693$348$170$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,480,000, adding $6,145 every year, while hoping to spend $35,154 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: 42/34/24 Blend
58$2,480,000$2,480,000$2,480,000$2,480,000
59$2,739,299$2,607,859$2,569,419$2,834,866
60$2,981,303$2,698,240$2,618,091$2,994,138
61$3,246,815$2,791,872$2,667,215$3,162,686
62$3,538,193$2,888,877$2,716,769$3,344,519
63$3,858,037$2,989,381$2,766,730$3,540,879
64$4,209,213$3,093,517$2,817,072$3,753,132
65$4,594,876$3,201,421$2,867,766$3,982,782
66$5,018,499$3,313,237$2,918,783$4,231,479
67$5,483,914$3,429,113$2,970,089$4,501,042
68$5,995,336$3,549,203$3,021,651$4,793,468
69$6,557,414$3,673,668$3,073,430$5,110,957
70$7,175,266$3,802,673$3,125,385$5,455,927
71$7,854,532$3,936,394$3,177,475$5,831,040
72$8,601,427$4,075,009$3,229,652$6,239,225
73$9,422,795$4,218,707$3,281,868$6,683,706
74$10,326,179$4,367,683$3,334,070$7,168,029
75$11,319,890$4,522,140$3,386,202$7,696,100
76$12,413,083$4,682,289$3,438,204$8,272,218
77$13,615,846$4,848,350$3,490,013$8,901,114
78$14,939,295$5,020,552$3,541,561$9,587,997
79$16,395,677$5,199,133$3,592,777$10,338,604
80$17,998,486$5,384,340$3,643,585$11,159,250
81$19,762,591$5,576,432$3,693,904$12,056,889
82$21,704,374$5,775,676$3,743,649$13,039,178
83$23,841,889$5,982,353$3,792,730$14,114,550
84$26,195,025$6,196,752$3,841,050$15,292,291
85$28,785,701$6,419,176$3,888,509$16,582,628
86$31,638,068$6,649,941$3,934,999$17,996,826
87$34,778,737$6,889,374$3,980,408$19,547,292
88$38,237,033$7,137,818$4,024,616$21,247,688
89$42,045,267$7,395,627$4,067,497$23,113,067
90$46,239,044$7,663,173$4,108,918$25,160,008
91$50,857,599$7,940,842$4,148,740$27,406,773
92$55,944,166$8,229,034$4,186,814$29,873,478
93$61,546,383$8,528,170$4,222,985$32,582,284
94$67,716,748$8,838,684$4,257,089$35,557,605
95$74,513,109$9,161,031$4,288,953$38,826,332
96$81,999,209$9,495,685$4,318,396$42,418,096
97$90,245,293$9,843,139$4,345,227$46,365,534
98$99,328,766$10,203,905$4,369,246$50,704,608
99$109,334,925$10,578,521$4,390,240$55,474,935
100$120,357,762$10,967,544$4,407,988$60,720,163