Can I retire at age 59 with 2,740,000?

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 $2,740,000?

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$226,267$224,251$222,285$220,366$218,491$212,349
2 years$112,013$109,927$107,905$105,945$104,044$97,902
3 years$73,934$71,839$69,822$67,880$66,010$60,061
4 years$54,898$52,809$50,812$48,904$47,079$41,369
5 years$43,479$41,403$39,433$37,563$35,788$30,333
6 years$35,869$33,809$31,867$30,039$28,318$23,122
7 years$30,436$28,392$26,482$24,697$23,030$18,094
8 years$26,362$24,337$22,459$20,718$19,106$14,427
9 years$23,196$21,190$19,344$17,647$16,090$11,663
10 years$20,664$18,678$16,864$15,212$13,709$9,529
11 years$18,594$16,628$14,847$13,239$11,790$7,850
12 years$16,870$14,924$13,176$11,612$10,217$6,510
13 years$15,413$13,487$11,772$10,252$8,910$5,426
14 years$14,165$12,260$10,577$9,100$7,810$4,542
15 years$13,084$11,199$9,550$8,116$6,877$3,816
16 years$12,139$10,275$8,658$7,267$6,078$3,215
17 years$11,307$9,463$7,879$6,529$5,389$2,715
18 years$10,567$8,744$7,192$5,884$4,792$2,297
19 years$9,906$8,104$6,584$5,317$4,271$1,947
20 years$9,312$7,531$6,043$4,815$3,815$1,653
21 years$8,776$7,015$5,558$4,370$3,414$1,404
22 years$8,288$6,548$5,123$3,974$3,060$1,195
23 years$7,844$6,124$4,730$3,619$2,747$1,017
24 years$7,438$5,738$4,374$3,301$2,469$866
25 years$7,064$5,385$4,052$3,014$2,222$739
26 years$6,720$5,061$3,758$2,756$2,001$630
27 years$6,402$4,763$3,489$2,523$1,804$538
28 years$6,107$4,488$3,244$2,311$1,628$459
29 years$5,833$4,234$3,019$2,120$1,470$392
30 years$5,577$3,998$2,812$1,945$1,328$335
31 years$5,339$3,780$2,621$1,787$1,201$286
32 years$5,116$3,576$2,446$1,642$1,086$244
33 years$4,907$3,387$2,284$1,510$983$209
34 years$4,711$3,210$2,134$1,389$890$178
35 years$4,526$3,045$1,995$1,279$806$153
36 years$4,352$2,890$1,866$1,178$730$130
37 years$4,187$2,745$1,747$1,085$662$111
38 years$4,032$2,608$1,636$1,000$600$95
39 years$3,885$2,480$1,532$922$544$81
40 years$3,746$2,360$1,436$851$494$70
41 years$3,614$2,246$1,347$785$448$60
42 years$3,488$2,139$1,263$724$406$51
43 years$3,369$2,038$1,185$669$369$44
44 years$3,256$1,943$1,113$617$335$37
45 years$3,147$1,853$1,045$570$304$32
46 years$3,044$1,768$981$527$276$27
47 years$2,946$1,687$922$487$251$23
48 years$2,851$1,610$866$450$228$20
49 years$2,761$1,538$814$416$207$17
50 years$2,675$1,469$766$384$188$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,740,000, adding $4,727 every year, while hoping to spend $46,141 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: 89/5/6 Blend
58$2,740,000$2,740,000$2,740,000$2,740,000
59$3,024,356$2,879,136$2,836,666$3,292,676
60$3,283,747$2,971,120$2,882,601$3,559,894
61$3,568,049$3,066,065$2,928,528$3,846,707
62$3,879,754$3,164,067$2,974,398$4,160,558
63$4,221,608$3,265,225$3,020,160$4,504,142
64$4,596,635$3,369,643$3,065,757$4,880,426
65$5,008,163$3,477,427$3,111,131$5,292,678
66$5,459,861$3,588,687$3,156,220$5,744,498
67$5,955,769$3,703,535$3,200,956$6,239,851
68$6,500,339$3,822,090$3,245,269$6,783,103
69$7,098,473$3,944,471$3,289,085$7,379,065
70$7,755,573$4,070,805$3,332,324$8,033,037
71$8,477,587$4,201,221$3,374,904$8,750,857
72$9,271,072$4,335,852$3,416,734$9,538,953
73$10,143,249$4,474,836$3,457,722$10,404,412
74$11,102,073$4,618,316$3,497,769$11,355,037
75$12,156,311$4,766,439$3,536,770$12,399,426
76$13,315,618$4,919,358$3,574,615$13,547,053
77$14,590,634$5,077,230$3,611,187$14,808,354
78$15,993,081$5,240,217$3,646,365$16,194,826
79$17,535,876$5,408,488$3,680,019$17,719,139
80$19,233,248$5,582,217$3,712,012$19,395,249
81$21,100,877$5,761,583$3,742,202$21,238,535
82$23,156,037$5,946,772$3,770,437$23,265,942
83$25,417,765$6,137,975$3,796,558$25,496,139
84$27,907,032$6,335,391$3,820,398$27,949,696
85$30,646,950$6,539,226$3,841,782$30,649,279
86$33,662,981$6,749,690$3,860,524$33,619,863
87$36,983,184$6,967,004$3,876,430$36,888,966
88$40,638,474$7,191,393$3,889,296$40,486,909
89$44,662,919$7,423,091$3,898,908$44,447,104
90$49,094,056$7,662,342$3,905,041$48,806,365
91$53,973,248$7,909,395$3,907,458$53,605,260
92$59,346,073$8,164,509$3,905,911$58,888,489
93$65,262,753$8,427,951$3,900,140$64,705,309
94$71,778,632$8,699,998$3,889,873$71,109,994
95$78,954,691$8,980,937$3,874,822$78,162,354
96$86,858,130$9,271,063$3,854,689$85,928,293
97$95,562,996$9,570,682$3,829,158$94,480,433
98$105,150,886$9,880,110$3,797,899$103,898,800
99$115,711,716$10,199,675$3,760,569$114,271,575
100$127,344,567$10,529,715$3,716,803$125,695,933