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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.5%
1 years$204,796$202,972$201,192$199,455$197,759$191,735
2 years$101,384$99,496$97,666$95,892$94,171$88,154
3 years$66,918$65,022$63,196$61,439$59,746$53,925
4 years$49,688$47,798$45,991$44,263$42,611$37,030
5 years$39,353$37,474$35,691$33,998$32,392$27,066
6 years$32,465$30,600$28,843$27,189$25,631$20,564
7 years$27,548$25,698$23,969$22,353$20,845$16,038
8 years$23,861$22,028$20,328$18,752$17,293$12,742
9 years$20,995$19,179$17,508$15,972$14,563$10,264
10 years$18,703$16,906$15,264$13,768$12,408$8,354
11 years$16,830$15,050$13,438$11,983$10,672$6,856
12 years$15,270$13,508$11,926$10,510$9,248$5,663
13 years$13,950$12,207$10,655$9,279$8,064$4,701
14 years$12,821$11,096$9,574$8,237$7,069$3,919
15 years$11,842$10,137$8,644$7,346$6,224$3,278
16 years$10,987$9,300$7,837$6,577$5,501$2,750
17 years$10,234$8,565$7,131$5,910$4,878$2,312
18 years$9,564$7,915$6,510$5,326$4,337$1,948
19 years$8,966$7,335$5,959$4,812$3,866$1,644
20 years$8,429$6,816$5,469$4,359$3,453$1,389
21 years$7,943$6,349$5,031$3,956$3,090$1,175
22 years$7,502$5,927$4,637$3,597$2,770$994
23 years$7,100$5,543$4,281$3,275$2,486$843
24 years$6,732$5,193$3,959$2,987$2,235$714
25 years$6,394$4,874$3,667$2,728$2,011$606
26 years$6,082$4,581$3,401$2,495$1,811$514
27 years$5,794$4,311$3,158$2,283$1,633$437
28 years$5,527$4,062$2,936$2,092$1,474$371
29 years$5,279$3,832$2,732$1,918$1,331$315
30 years$5,048$3,619$2,545$1,761$1,202$268
31 years$4,832$3,421$2,373$1,617$1,087$228
32 years$4,631$3,237$2,214$1,486$983$194
33 years$4,441$3,066$2,067$1,367$890$165
34 years$4,264$2,905$1,931$1,257$806$140
35 years$4,096$2,756$1,805$1,157$730$119
36 years$3,939$2,616$1,689$1,066$661$101
37 years$3,790$2,484$1,581$982$599$86
38 years$3,650$2,361$1,480$905$543$73
39 years$3,517$2,245$1,387$835$493$62
40 years$3,391$2,136$1,300$770$447$53
41 years$3,271$2,033$1,219$710$405$45
42 years$3,157$1,936$1,143$656$368$38
43 years$3,049$1,845$1,073$605$334$33
44 years$2,947$1,759$1,007$559$303$28
45 years$2,849$1,677$946$516$275$24
46 years$2,755$1,600$888$477$250$20
47 years$2,666$1,527$834$440$227$17
48 years$2,581$1,457$784$407$206$15
49 years$2,499$1,392$737$376$187$12
50 years$2,421$1,330$693$348$170$11

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 $3,070 every year, while hoping to spend $24,439 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: 45/45/10 Blend
58$2,480,000$2,480,000$2,480,000$2,480,000
59$2,736,127$2,604,687$2,566,247$2,851,383
60$2,989,209$2,706,313$2,626,213$3,033,137
61$3,267,286$2,812,101$2,687,369$3,227,351
62$3,572,882$2,922,227$2,749,729$3,437,387
63$3,908,778$3,036,878$2,813,307$3,664,711
64$4,278,036$3,156,247$2,878,115$3,910,937
65$4,684,031$3,280,539$2,944,167$4,177,834
66$5,130,481$3,409,964$3,011,476$4,467,348
67$5,621,482$3,544,744$3,080,053$4,781,617
68$6,161,548$3,685,112$3,149,909$5,122,988
69$6,755,651$3,831,307$3,221,056$5,494,043
70$7,409,269$3,983,583$3,293,503$5,897,619
71$8,128,440$4,142,203$3,367,260$6,336,835
72$8,919,813$4,307,444$3,442,337$6,815,120
73$9,790,719$4,479,594$3,518,739$7,336,246
74$10,749,231$4,658,953$3,596,476$7,904,360
75$11,804,247$4,845,836$3,675,552$8,524,023
76$12,965,570$5,040,571$3,755,973$9,200,253
77$14,244,003$5,243,504$3,837,743$9,938,569
78$15,651,448$5,454,993$3,920,864$10,745,044
79$17,201,021$5,675,413$4,005,339$11,626,359
80$18,907,174$5,905,157$4,091,166$12,589,866
81$20,785,832$6,144,635$4,178,346$13,643,657
82$22,854,541$6,394,277$4,266,876$14,796,635
83$25,132,639$6,654,531$4,356,750$16,058,601
84$27,641,431$6,925,866$4,447,964$17,440,340
85$30,404,395$7,208,772$4,540,509$18,953,728
86$33,447,403$7,503,761$4,634,376$20,611,833
87$36,798,964$7,811,371$4,729,553$22,429,047
88$40,490,491$8,132,161$4,826,026$24,421,209
89$44,556,602$8,466,718$4,923,779$26,605,763
90$49,035,443$8,815,655$5,022,793$29,001,913
91$53,969,049$9,179,613$5,123,048$31,630,804
92$59,403,741$9,559,262$5,224,518$34,515,721
93$65,390,561$9,955,305$5,327,178$37,682,304
94$71,985,757$10,368,474$5,430,998$41,158,791
95$79,251,313$10,799,537$5,535,944$44,976,277
96$87,255,530$11,249,298$5,641,981$49,169,009
97$96,073,675$11,718,594$5,749,069$53,774,705
98$105,788,690$12,208,306$5,857,164$58,834,905
99$116,491,976$12,719,352$5,966,218$64,395,364
100$128,284,251$13,252,694$6,076,179$70,506,478