Can I retire at age 59 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$216,357$214,430$212,550$210,714$208,922$207,955
2 years$107,108$105,113$103,179$101,305$99,487$98,510
3 years$70,696$68,692$66,764$64,907$63,119$62,163
4 years$52,493$50,496$48,587$46,762$45,017$44,089
5 years$41,575$39,590$37,706$35,918$34,221$33,325
6 years$34,298$32,328$30,472$28,724$27,078$26,214
7 years$29,103$27,149$25,322$23,615$22,022$21,191
8 years$25,208$23,272$21,475$19,810$18,269$17,471
9 years$22,180$20,262$18,497$16,874$15,385$14,620
10 years$19,759$17,860$16,126$14,546$13,109$12,376
11 years$17,780$15,900$14,197$12,659$11,274$10,573
12 years$16,132$14,271$12,599$11,104$9,770$9,100
13 years$14,738$12,897$11,257$9,803$8,520$7,881
14 years$13,544$11,723$10,114$8,702$7,468$6,859
15 years$12,511$10,709$9,132$7,761$6,576$5,996
16 years$11,608$9,825$8,279$6,949$5,812$5,261
17 years$10,811$9,049$7,534$6,243$5,153$4,630
18 years$10,104$8,361$6,877$5,627$4,582$4,085
19 years$9,472$7,749$6,296$5,084$4,084$3,613
20 years$8,905$7,201$5,778$4,605$3,648$3,202
21 years$8,391$6,707$5,315$4,179$3,264$2,843
22 years$7,925$6,261$4,898$3,800$2,926$2,528
23 years$7,501$5,856$4,523$3,460$2,627$2,250
24 years$7,112$5,487$4,183$3,156$2,361$2,006
25 years$6,755$5,149$3,874$2,882$2,124$1,790
26 years$6,426$4,839$3,593$2,635$1,914$1,599
27 years$6,121$4,554$3,336$2,412$1,725$1,429
28 years$5,839$4,291$3,102$2,210$1,557$1,279
29 years$5,577$4,048$2,886$2,027$1,406$1,144
30 years$5,333$3,823$2,689$1,860$1,270$1,025
31 years$5,105$3,614$2,506$1,708$1,148$919
32 years$4,892$3,420$2,339$1,570$1,039$824
33 years$4,692$3,239$2,184$1,444$940$739
34 years$4,504$3,070$2,040$1,328$851$663
35 years$4,328$2,911$1,907$1,223$771$595
36 years$4,161$2,763$1,784$1,126$698$534
37 years$4,004$2,625$1,670$1,038$633$480
38 years$3,856$2,494$1,564$956$574$431
39 years$3,715$2,372$1,465$882$520$387
40 years$3,582$2,257$1,373$813$472$348
41 years$3,456$2,148$1,288$750$428$313
42 years$3,336$2,046$1,208$693$389$281
43 years$3,222$1,949$1,134$639$353$253
44 years$3,113$1,858$1,064$590$320$227
45 years$3,009$1,772$999$545$291$204
46 years$2,911$1,690$938$504$264$184
47 years$2,817$1,613$882$465$240$165
48 years$2,726$1,540$828$430$218$149
49 years$2,640$1,470$779$397$198$134
50 years$2,558$1,405$732$367$180$120

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,620,000, adding $2,283 every year, while hoping to spend $30,309 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: 70/24/6 Blend
58$2,620,000$2,620,000$2,620,000$2,620,000
59$2,889,595$2,750,735$2,710,125$3,089,413
60$3,152,085$2,853,272$2,768,666$3,324,290
61$3,440,333$2,959,818$2,828,151$3,577,244
62$3,756,935$3,070,537$2,888,582$3,853,182
63$4,104,750$3,185,601$2,949,957$4,154,352
64$4,486,926$3,305,187$3,012,272$4,483,229
65$4,906,935$3,429,483$3,075,526$4,842,537
66$5,368,598$3,558,684$3,139,712$5,235,272
67$5,876,127$3,692,992$3,204,824$5,664,736
68$6,434,162$3,832,618$3,270,856$6,134,559
69$7,047,815$3,977,785$3,337,798$6,648,739
70$7,722,717$4,128,722$3,405,640$7,211,680
71$8,465,075$4,285,669$3,474,369$7,828,228
72$9,281,724$4,448,878$3,543,971$8,503,718
73$10,180,197$4,618,611$3,614,432$9,244,027
74$11,168,794$4,795,140$3,685,732$10,055,625
75$12,256,660$4,978,751$3,757,854$10,945,636
76$13,453,871$5,169,741$3,830,773$11,921,908
77$14,771,529$5,368,421$3,904,467$12,993,081
78$16,221,867$5,575,116$3,978,909$14,168,671
79$17,818,364$5,790,163$4,054,069$15,459,161
80$19,575,872$6,013,917$4,129,915$16,876,095
81$21,510,758$6,246,745$4,206,414$18,432,187
82$23,641,053$6,489,034$4,283,527$20,141,443
83$25,986,629$6,741,185$4,361,214$22,019,291
84$28,569,381$7,003,618$4,439,430$24,082,722
85$31,413,435$7,276,773$4,518,128$26,350,457
86$34,545,376$7,561,106$4,597,256$28,843,115
87$37,994,501$7,857,096$4,676,760$31,583,412
88$41,793,089$8,165,243$4,756,581$34,596,371
89$45,976,712$8,486,068$4,836,655$37,909,561
90$50,584,568$8,820,117$4,916,914$41,553,351
91$55,659,850$9,167,958$4,997,286$45,561,199
92$61,250,153$9,530,187$5,077,694$49,969,966
93$67,407,927$9,907,424$5,158,055$54,820,262
94$74,190,967$10,300,319$5,238,281$60,156,830
95$81,662,961$10,709,550$5,318,279$66,028,963
96$89,894,091$11,135,826$5,397,949$72,490,973
97$98,961,693$11,579,887$5,477,185$79,602,695
98$108,950,991$12,042,506$5,555,876$87,430,061
99$119,955,896$12,524,493$5,633,902$96,045,709
100$132,079,896$13,026,692$5,711,136$105,529,676