Can I retire at age 59 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$218,009$216,067$214,172$212,323$210,517$204,599
2 years$107,925$105,915$103,967$102,078$100,246$94,329
3 years$71,235$69,217$67,274$65,403$63,600$57,869
4 years$52,894$50,882$48,958$47,119$45,360$39,859
5 years$41,892$39,892$37,993$36,192$34,482$29,226
6 years$34,560$32,575$30,704$28,943$27,285$22,279
7 years$29,325$27,356$25,515$23,796$22,190$17,434
8 years$25,400$23,449$21,639$19,961$18,408$13,900
9 years$22,349$20,417$18,638$17,003$15,503$11,238
10 years$19,910$17,996$16,249$14,657$13,209$9,182
11 years$17,916$16,021$14,305$12,756$11,360$7,564
12 years$16,255$14,380$12,695$11,188$9,844$6,272
13 years$14,850$12,995$11,343$9,878$8,585$5,228
14 years$13,648$11,812$10,191$8,768$7,525$4,377
15 years$12,606$10,791$9,201$7,820$6,626$3,677
16 years$11,696$9,900$8,342$7,002$5,856$3,098
17 years$10,894$9,118$7,591$6,291$5,192$2,616
18 years$10,181$8,425$6,930$5,669$4,617$2,213
19 years$9,545$7,808$6,344$5,123$4,115$1,876
20 years$8,973$7,256$5,822$4,640$3,676$1,592
21 years$8,455$6,759$5,355$4,211$3,289$1,353
22 years$7,986$6,309$4,936$3,829$2,948$1,151
23 years$7,558$5,901$4,557$3,487$2,647$980
24 years$7,166$5,528$4,215$3,180$2,379$835
25 years$6,806$5,188$3,904$2,904$2,141$712
26 years$6,475$4,876$3,620$2,656$1,928$607
27 years$6,168$4,589$3,362$2,431$1,738$518
28 years$5,884$4,324$3,125$2,227$1,569$442
29 years$5,620$4,079$2,908$2,042$1,416$377
30 years$5,374$3,852$2,709$1,874$1,280$322
31 years$5,144$3,642$2,526$1,721$1,157$275
32 years$4,929$3,446$2,356$1,582$1,047$235
33 years$4,728$3,263$2,200$1,455$947$201
34 years$4,539$3,093$2,056$1,339$858$172
35 years$4,361$2,934$1,922$1,232$777$147
36 years$4,193$2,784$1,798$1,135$704$126
37 years$4,035$2,645$1,683$1,046$638$107
38 years$3,885$2,513$1,576$964$578$92
39 years$3,743$2,390$1,476$889$524$79
40 years$3,609$2,274$1,384$820$476$67
41 years$3,482$2,164$1,298$756$432$57
42 years$3,361$2,061$1,217$698$392$49
43 years$3,246$1,964$1,142$644$355$42
44 years$3,137$1,872$1,072$595$323$36
45 years$3,032$1,785$1,007$549$293$31
46 years$2,933$1,703$946$507$266$26
47 years$2,838$1,625$888$469$241$22
48 years$2,747$1,551$835$433$219$19
49 years$2,661$1,482$785$400$199$16
50 years$2,578$1,415$738$370$181$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,640,000, adding $5,334 every year, while hoping to spend $49,452 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: 55/30/15 Blend
58$2,640,000$2,640,000$2,640,000$2,640,000
59$2,914,782$2,774,862$2,733,942$3,063,311
60$3,159,473$2,858,214$2,772,913$3,248,297
61$3,427,466$2,943,992$2,811,531$3,443,834
62$3,721,083$3,032,264$2,849,734$3,655,627
63$4,042,887$3,123,098$2,887,453$3,885,239
64$4,395,695$3,216,564$2,924,616$4,134,389
65$4,782,614$3,312,733$2,961,149$4,404,970
66$5,207,062$3,411,679$2,996,969$4,699,067
67$5,672,808$3,513,477$3,031,993$5,018,972
68$6,184,001$3,618,204$3,066,132$5,367,212
69$6,745,212$3,725,938$3,099,289$5,746,567
70$7,361,475$3,836,760$3,131,367$6,160,099
71$8,038,336$3,950,753$3,162,259$6,611,178
72$8,781,906$4,067,999$3,191,854$7,103,518
73$9,598,916$4,188,586$3,220,036$7,641,208
74$10,496,780$4,312,602$3,246,682$8,228,750
75$11,483,667$4,440,135$3,271,662$8,871,104
76$12,568,578$4,571,279$3,294,840$9,573,732
77$13,761,428$4,706,126$3,316,071$10,342,653
78$15,073,140$4,844,773$3,335,206$11,184,493
79$16,515,750$4,987,316$3,352,085$12,106,554
80$18,102,519$5,133,857$3,366,542$13,116,878
81$19,848,056$5,284,496$3,378,402$14,224,327
82$21,768,459$5,439,338$3,387,480$15,438,660
83$23,881,464$5,598,488$3,393,582$16,770,631
84$26,206,613$5,762,053$3,396,507$18,232,088
85$28,765,438$5,930,145$3,396,041$19,836,083
86$31,581,665$6,102,874$3,391,960$21,596,996
87$34,681,435$6,280,354$3,384,031$23,530,672
88$38,093,551$6,462,702$3,372,006$25,654,567
89$41,849,755$6,650,035$3,355,629$27,987,916
90$45,985,016$6,842,474$3,334,629$30,551,912
91$50,537,872$7,040,139$3,308,724$33,369,906
92$55,550,784$7,243,155$3,277,615$36,467,627
93$61,070,542$7,451,648$3,240,993$39,873,426
94$67,148,703$7,665,744$3,198,532$43,618,543
95$73,842,078$7,885,573$3,149,890$47,737,398
96$81,213,271$8,111,267$3,094,712$52,267,922
97$89,331,263$8,342,957$3,032,623$57,251,908
98$98,272,068$8,580,779$2,963,233$62,735,412
99$108,119,450$8,824,868$2,886,133$68,769,181
100$118,965,709$9,075,362$2,800,893$75,409,136