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%18.4%
1 years$226,267$224,251$222,285$220,366$218,491$211,075
2 years$112,013$109,927$107,905$105,945$104,044$96,646
3 years$73,934$71,839$69,822$67,880$66,010$58,863
4 years$54,898$52,809$50,812$48,904$47,079$40,238
5 years$43,479$41,403$39,433$37,563$35,788$29,272
6 years$35,869$33,809$31,867$30,039$28,318$22,131
7 years$30,436$28,392$26,482$24,697$23,030$17,171
8 years$26,362$24,337$22,459$20,718$19,106$13,570
9 years$23,196$21,190$19,344$17,647$16,090$10,871
10 years$20,664$18,678$16,864$15,212$13,709$8,799
11 years$18,594$16,628$14,847$13,239$11,790$7,179
12 years$16,870$14,924$13,176$11,612$10,217$5,894
13 years$15,413$13,487$11,772$10,252$8,910$4,863
14 years$14,165$12,260$10,577$9,100$7,810$4,029
15 years$13,084$11,199$9,550$8,116$6,877$3,349
16 years$12,139$10,275$8,658$7,267$6,078$2,791
17 years$11,307$9,463$7,879$6,529$5,389$2,331
18 years$10,567$8,744$7,192$5,884$4,792$1,951
19 years$9,906$8,104$6,584$5,317$4,271$1,635
20 years$9,312$7,531$6,043$4,815$3,815$1,372
21 years$8,776$7,015$5,558$4,370$3,414$1,152
22 years$8,288$6,548$5,123$3,974$3,060$969
23 years$7,844$6,124$4,730$3,619$2,747$815
24 years$7,438$5,738$4,374$3,301$2,469$686
25 years$7,064$5,385$4,052$3,014$2,222$578
26 years$6,720$5,061$3,758$2,756$2,001$487
27 years$6,402$4,763$3,489$2,523$1,804$411
28 years$6,107$4,488$3,244$2,311$1,628$346
29 years$5,833$4,234$3,019$2,120$1,470$292
30 years$5,577$3,998$2,812$1,945$1,328$246
31 years$5,339$3,780$2,621$1,787$1,201$208
32 years$5,116$3,576$2,446$1,642$1,086$175
33 years$4,907$3,387$2,284$1,510$983$148
34 years$4,711$3,210$2,134$1,389$890$125
35 years$4,526$3,045$1,995$1,279$806$105
36 years$4,352$2,890$1,866$1,178$730$89
37 years$4,187$2,745$1,747$1,085$662$75
38 years$4,032$2,608$1,636$1,000$600$63
39 years$3,885$2,480$1,532$922$544$54
40 years$3,746$2,360$1,436$851$494$45
41 years$3,614$2,246$1,347$785$448$38
42 years$3,488$2,139$1,263$724$406$32
43 years$3,369$2,038$1,185$669$369$27
44 years$3,256$1,943$1,113$617$335$23
45 years$3,147$1,853$1,045$570$304$19
46 years$3,044$1,768$981$527$276$16
47 years$2,946$1,687$922$487$251$14
48 years$2,851$1,610$866$450$228$12
49 years$2,761$1,538$814$416$207$10
50 years$2,675$1,469$766$384$188$8

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 $5,500 every year, while hoping to spend $38,889 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: 29/45/26 Blend
58$2,740,000$2,740,000$2,740,000$2,740,000
59$3,025,153$2,879,933$2,837,463$3,088,363
60$3,292,341$2,979,672$2,891,141$3,238,096
61$3,585,479$3,082,995$2,945,313$3,395,186
62$3,907,173$3,190,037$2,999,955$3,563,286
63$4,260,292$3,300,936$3,055,042$3,743,371
64$4,647,999$3,415,839$3,110,543$3,936,515
65$5,073,777$3,534,897$3,166,428$4,143,892
66$5,541,461$3,658,267$3,222,663$4,366,794
67$6,055,280$3,786,112$3,279,212$4,606,640
68$6,619,889$3,918,601$3,336,036$4,864,986
69$7,240,418$4,055,913$3,393,093$5,143,545
70$7,922,517$4,198,229$3,450,338$5,444,197
71$8,672,413$4,345,742$3,507,724$5,769,010
72$9,496,966$4,498,650$3,565,199$6,120,255
73$10,403,731$4,657,159$3,622,708$6,500,431
74$11,401,036$4,821,484$3,680,193$6,912,284
75$12,498,055$4,991,849$3,737,592$7,358,835
76$13,704,893$5,168,486$3,794,839$7,843,406
77$15,032,688$5,351,638$3,851,862$8,369,651
78$16,493,710$5,541,557$3,908,587$8,941,591
79$18,101,479$5,738,503$3,964,935$9,563,649
80$19,870,890$5,942,750$4,020,820$10,240,691
81$21,818,358$6,154,581$4,076,155$10,978,073
82$23,961,967$6,374,293$4,130,843$11,781,689
83$26,321,646$6,602,191$4,184,784$12,658,024
84$28,919,352$6,838,597$4,237,873$13,614,221
85$31,779,280$7,083,843$4,289,996$14,658,136
86$34,928,091$7,338,275$4,341,035$15,798,424
87$38,395,162$7,602,256$4,390,865$17,044,608
88$42,212,862$7,876,161$4,439,353$18,407,176
89$46,416,862$8,160,380$4,486,359$19,897,675
90$51,046,466$8,455,323$4,531,736$21,528,818
91$56,144,984$8,761,413$4,575,328$23,314,605
92$61,760,143$9,079,092$4,616,972$25,270,454
93$67,944,531$9,408,821$4,656,494$27,413,342
94$74,756,100$9,751,080$4,693,713$29,761,966
95$82,258,707$10,106,368$4,728,438$32,336,920
96$90,522,721$10,475,206$4,760,466$35,160,883
97$99,625,684$10,858,136$4,789,587$38,258,835
98$109,653,043$11,255,724$4,815,577$41,658,291
99$120,698,957$11,668,558$4,838,203$45,389,558
100$132,867,185$12,097,252$4,857,217$49,486,018