Can I retire at age 59 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$231,221$229,162$227,152$225,191$223,276$220,212
2 years$114,466$112,334$110,268$108,265$106,322$103,241
3 years$75,553$73,412$71,351$69,366$67,455$64,452
4 years$56,100$53,965$51,925$49,975$48,109$45,208
5 years$44,431$42,309$40,296$38,385$36,572$33,780
6 years$36,655$34,549$32,565$30,697$28,938$26,260
7 years$31,102$29,014$27,062$25,238$23,535$20,970
8 years$26,940$24,870$22,951$21,171$19,524$17,073
9 years$23,704$21,654$19,767$18,033$16,442$14,104
10 years$21,117$19,087$17,234$15,545$14,010$11,782
11 years$19,001$16,992$15,172$13,529$12,049$9,930
12 years$17,240$15,251$13,465$11,866$10,441$8,429
13 years$15,750$13,783$12,030$10,476$9,105$7,197
14 years$14,475$12,528$10,809$9,300$7,981$6,174
15 years$13,370$11,445$9,759$8,294$7,027$5,317
16 years$12,405$10,500$8,848$7,426$6,211$4,595
17 years$11,554$9,670$8,051$6,672$5,507$3,982
18 years$10,799$8,936$7,350$6,013$4,896$3,460
19 years$10,123$8,282$6,728$5,433$4,364$3,012
20 years$9,516$7,696$6,175$4,921$3,898$2,627
21 years$8,968$7,168$5,680$4,466$3,489$2,294
22 years$8,470$6,691$5,235$4,061$3,127$2,006
23 years$8,016$6,258$4,833$3,698$2,807$1,757
24 years$7,601$5,864$4,470$3,373$2,523$1,540
25 years$7,219$5,503$4,140$3,080$2,270$1,351
26 years$6,867$5,172$3,840$2,816$2,045$1,186
27 years$6,542$4,867$3,566$2,578$1,844$1,042
28 years$6,241$4,586$3,315$2,362$1,664$915
29 years$5,961$4,327$3,085$2,166$1,502$805
30 years$5,700$4,086$2,873$1,988$1,357$708
31 years$5,456$3,863$2,679$1,826$1,227$623
32 years$5,228$3,655$2,499$1,678$1,110$549
33 years$5,014$3,461$2,334$1,543$1,005$483
34 years$4,814$3,280$2,180$1,420$910$426
35 years$4,625$3,111$2,038$1,307$824$375
36 years$4,447$2,953$1,907$1,204$746$331
37 years$4,279$2,805$1,785$1,109$677$291
38 years$4,120$2,666$1,671$1,022$613$257
39 years$3,970$2,535$1,566$942$556$227
40 years$3,828$2,412$1,468$869$504$200
41 years$3,693$2,296$1,376$802$458$176
42 years$3,565$2,186$1,291$740$415$155
43 years$3,443$2,083$1,211$683$377$137
44 years$3,327$1,986$1,137$631$342$121
45 years$3,216$1,893$1,068$583$311$107
46 years$3,111$1,806$1,003$538$282$94
47 years$3,010$1,724$942$497$256$83
48 years$2,914$1,646$885$459$233$73
49 years$2,822$1,571$832$425$211$65
50 years$2,734$1,501$782$392$192$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,800,000, adding $2,430 every year, while hoping to spend $33,343 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: 80/10/10 Blend
58$2,800,000$2,800,000$2,800,000$2,800,000
59$3,088,107$2,939,707$2,896,307$3,329,958
60$3,367,617$3,048,275$2,957,856$3,597,537
61$3,674,519$3,161,047$3,020,350$3,886,491
62$4,011,573$3,278,191$3,083,785$4,202,586
63$4,381,818$3,399,887$3,148,156$4,548,519
64$4,788,601$3,526,319$3,213,457$4,927,261
65$5,235,611$3,657,681$3,279,680$5,342,082
66$5,726,911$3,794,174$3,346,816$5,796,586
67$6,266,977$3,936,010$3,414,856$6,294,740
68$6,860,741$4,083,408$3,483,787$6,840,914
69$7,513,638$4,236,595$3,553,594$7,439,920
70$8,231,652$4,395,812$3,624,263$8,097,059
71$9,021,380$4,561,306$3,695,776$8,818,172
72$9,890,089$4,733,338$3,768,112$9,609,688
73$10,845,784$4,912,178$3,841,250$10,478,694
74$11,897,288$5,098,108$3,915,165$11,432,994
75$13,054,320$5,291,424$3,989,832$12,481,184
76$14,327,590$5,492,433$4,065,221$13,632,735
77$15,728,897$5,701,456$4,141,299$14,898,083
78$17,271,245$5,918,828$4,218,033$16,288,719
79$18,968,960$6,144,898$4,295,385$17,817,309
80$20,837,826$6,380,031$4,373,313$19,497,802
81$22,895,240$6,624,607$4,451,774$21,345,569
82$25,160,365$6,879,024$4,530,720$23,377,544
83$27,654,323$7,143,697$4,610,099$25,612,384
84$30,400,384$7,419,058$4,689,858$28,070,645
85$33,424,191$7,705,560$4,769,935$30,774,974
86$36,753,999$8,003,673$4,850,269$33,750,326
87$40,420,945$8,313,891$4,930,791$37,024,194
88$44,459,338$8,636,728$5,011,429$40,626,872
89$48,906,983$8,972,721$5,092,105$44,591,740
90$53,805,542$9,322,430$5,172,736$48,955,573
91$59,200,920$9,686,442$5,253,236$53,758,897
92$65,143,703$10,065,367$5,333,509$59,046,363
93$71,689,636$10,459,845$5,413,456$64,867,172
94$78,900,144$10,870,542$5,492,972$71,275,535
95$86,842,915$11,298,156$5,571,944$78,331,189
96$95,592,541$11,743,414$5,650,252$86,099,957
97$105,231,216$12,207,077$5,727,771$94,654,369
98$115,849,514$12,689,938$5,804,366$104,074,346
99$127,547,248$13,192,828$5,879,895$114,447,953
100$140,434,404$13,716,614$5,954,209$125,872,233