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%12.7%
1 years$204,796$202,972$201,192$199,455$197,759$195,531
2 years$101,384$99,496$97,666$95,892$94,171$91,928
3 years$66,918$65,022$63,196$61,439$59,746$57,558
4 years$49,688$47,798$45,991$44,263$42,611$40,495
5 years$39,353$37,474$35,691$33,998$32,392$30,353
6 years$32,465$30,600$28,843$27,189$25,631$23,672
7 years$27,548$25,698$23,969$22,353$20,845$18,967
8 years$23,861$22,028$20,328$18,752$17,293$15,496
9 years$20,995$19,179$17,508$15,972$14,563$12,846
10 years$18,703$16,906$15,264$13,768$12,408$10,771
11 years$16,830$15,050$13,438$11,983$10,672$9,112
12 years$15,270$13,508$11,926$10,510$9,248$7,764
13 years$13,950$12,207$10,655$9,279$8,064$6,655
14 years$12,821$11,096$9,574$8,237$7,069$5,732
15 years$11,842$10,137$8,644$7,346$6,224$4,957
16 years$10,987$9,300$7,837$6,577$5,501$4,301
17 years$10,234$8,565$7,131$5,910$4,878$3,744
18 years$9,564$7,915$6,510$5,326$4,337$3,266
19 years$8,966$7,335$5,959$4,812$3,866$2,856
20 years$8,429$6,816$5,469$4,359$3,453$2,502
21 years$7,943$6,349$5,031$3,956$3,090$2,195
22 years$7,502$5,927$4,637$3,597$2,770$1,928
23 years$7,100$5,543$4,281$3,275$2,486$1,696
24 years$6,732$5,193$3,959$2,987$2,235$1,494
25 years$6,394$4,874$3,667$2,728$2,011$1,316
26 years$6,082$4,581$3,401$2,495$1,811$1,161
27 years$5,794$4,311$3,158$2,283$1,633$1,025
28 years$5,527$4,062$2,936$2,092$1,474$905
29 years$5,279$3,832$2,732$1,918$1,331$800
30 years$5,048$3,619$2,545$1,761$1,202$707
31 years$4,832$3,421$2,373$1,617$1,087$625
32 years$4,631$3,237$2,214$1,486$983$553
33 years$4,441$3,066$2,067$1,367$890$490
34 years$4,264$2,905$1,931$1,257$806$434
35 years$4,096$2,756$1,805$1,157$730$384
36 years$3,939$2,616$1,689$1,066$661$340
37 years$3,790$2,484$1,581$982$599$301
38 years$3,650$2,361$1,480$905$543$267
39 years$3,517$2,245$1,387$835$493$237
40 years$3,391$2,136$1,300$770$447$210
41 years$3,271$2,033$1,219$710$405$186
42 years$3,157$1,936$1,143$656$368$165
43 years$3,049$1,845$1,073$605$334$146
44 years$2,947$1,759$1,007$559$303$130
45 years$2,849$1,677$946$516$275$115
46 years$2,755$1,600$888$477$250$102
47 years$2,666$1,527$834$440$227$90
48 years$2,581$1,457$784$407$206$80
49 years$2,499$1,392$737$376$187$71
50 years$2,421$1,330$693$348$170$63

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 $6,433 every year, while hoping to spend $52,989 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: 54/22/24 Blend
58$2,480,000$2,480,000$2,480,000$2,480,000
59$2,739,596$2,608,156$2,569,716$2,869,091
60$2,962,655$2,679,575$2,599,421$3,030,336
61$3,206,689$2,752,719$2,628,346$3,199,742
62$3,473,784$2,827,614$2,656,408$3,383,065
63$3,766,233$2,904,290$2,683,520$3,581,655
64$4,086,562$2,982,774$2,709,592$3,797,000
65$4,437,554$3,063,092$2,734,526$4,030,737
66$4,822,274$3,145,273$2,758,221$4,284,673
67$5,244,095$3,229,341$2,780,572$4,560,793
68$5,706,736$3,315,322$2,801,464$4,861,290
69$6,214,291$3,403,240$2,820,781$5,188,574
70$6,771,268$3,493,119$2,838,396$5,545,305
71$7,382,635$3,584,979$2,854,180$5,934,411
72$8,053,863$3,678,843$2,867,995$6,359,119
73$8,790,980$3,774,729$2,879,696$6,822,984
74$9,600,626$3,872,656$2,889,131$7,329,924
75$10,490,113$3,972,640$2,896,140$7,884,255
76$11,467,500$4,074,694$2,900,556$8,490,735
77$12,541,663$4,178,833$2,902,203$9,154,606
78$13,722,383$4,285,065$2,900,897$9,881,643
79$15,020,432$4,393,399$2,896,443$10,678,211
80$16,447,680$4,503,840$2,888,638$11,551,327
81$18,017,205$4,616,391$2,877,269$12,508,718
82$19,743,416$4,731,049$2,862,113$13,558,905
83$21,642,187$4,847,813$2,842,936$14,711,275
84$23,731,007$4,966,674$2,819,492$15,976,174
85$26,029,149$5,087,620$2,791,525$17,365,004
86$28,557,846$5,210,636$2,758,764$18,890,329
87$31,340,491$5,335,703$2,720,928$20,565,998
88$34,402,863$5,462,794$2,677,721$22,407,271
89$37,773,366$5,591,881$2,628,835$24,430,967
90$41,483,293$5,722,928$2,573,945$26,655,621
91$45,567,130$5,855,893$2,512,713$29,101,662
92$50,062,874$5,990,728$2,444,786$31,791,600
93$55,012,392$6,127,378$2,369,791$34,750,248
94$60,461,819$6,265,783$2,287,342$38,004,949
95$66,461,990$6,405,871$2,197,033$41,585,836
96$73,068,919$6,547,566$2,098,440$45,526,122
97$80,344,332$6,690,779$1,991,120$49,862,406
98$88,356,241$6,835,414$1,874,610$54,635,027
99$97,179,594$6,981,366$1,748,426$59,888,438
100$106,896,976$7,128,516$1,612,062$65,671,633