Can I retire at age 59 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$233,699$231,617$229,586$227,604$225,668$222,021
2 years$115,692$113,538$111,450$109,425$107,461$103,797
3 years$76,362$74,198$72,115$70,110$68,178$64,610
4 years$56,701$54,544$52,481$50,510$48,625$45,182
5 years$44,907$42,763$40,728$38,797$36,964$33,655
6 years$37,047$34,919$32,914$31,026$29,248$26,077
7 years$31,435$29,325$27,352$25,508$23,787$20,755
8 years$27,228$25,137$23,196$21,398$19,733$16,840
9 years$23,958$21,886$19,979$18,226$16,618$13,862
10 years$21,343$19,292$17,418$15,711$14,160$11,538
11 years$19,205$17,174$15,335$13,674$12,178$9,688
12 years$17,424$15,415$13,609$11,994$10,553$8,191
13 years$15,919$13,930$12,159$10,589$9,202$6,966
14 years$14,630$12,662$10,925$9,399$8,067$5,952
15 years$13,514$11,567$9,864$8,383$7,103$5,106
16 years$12,538$10,613$8,943$7,506$6,277$4,394
17 years$11,678$9,774$8,138$6,744$5,566$3,792
18 years$10,914$9,032$7,429$6,077$4,949$3,280
19 years$10,232$8,370$6,801$5,492$4,411$2,843
20 years$9,618$7,778$6,241$4,974$3,940$2,468
21 years$9,064$7,245$5,741$4,514$3,526$2,146
22 years$8,561$6,763$5,291$4,104$3,160$1,868
23 years$8,102$6,325$4,885$3,738$2,837$1,628
24 years$7,682$5,926$4,518$3,409$2,550$1,420
25 years$7,296$5,562$4,185$3,113$2,295$1,240
26 years$6,941$5,227$3,881$2,847$2,067$1,083
27 years$6,612$4,919$3,604$2,606$1,863$947
28 years$6,307$4,635$3,350$2,387$1,681$828
29 years$6,024$4,373$3,118$2,189$1,518$725
30 years$5,761$4,130$2,904$2,009$1,372$635
31 years$5,514$3,904$2,707$1,845$1,240$556
32 years$5,284$3,694$2,526$1,696$1,122$487
33 years$5,068$3,498$2,359$1,559$1,015$427
34 years$4,865$3,316$2,204$1,435$919$374
35 years$4,674$3,145$2,060$1,321$833$328
36 years$4,495$2,985$1,927$1,216$754$287
37 years$4,325$2,835$1,804$1,121$684$252
38 years$4,165$2,694$1,689$1,033$620$221
39 years$4,013$2,562$1,583$953$562$194
40 years$3,869$2,437$1,483$879$510$170
41 years$3,733$2,320$1,391$811$463$149
42 years$3,603$2,210$1,305$748$420$131
43 years$3,480$2,105$1,224$691$381$115
44 years$3,362$2,007$1,149$638$346$101
45 years$3,251$1,914$1,079$589$314$89
46 years$3,144$1,826$1,014$544$285$78
47 years$3,042$1,742$952$503$259$68
48 years$2,945$1,663$895$464$235$60
49 years$2,852$1,588$841$429$213$53
50 years$2,763$1,517$791$397$194$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,830,000, adding $5,438 every year, while hoping to spend $48,084 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: 58/19/23 Blend
58$2,830,000$2,830,000$2,830,000$2,830,000
59$3,124,269$2,974,279$2,930,414$3,285,858
60$3,391,784$3,068,858$2,977,422$3,491,192
61$3,684,973$3,166,459$3,024,393$3,709,328
62$4,006,405$3,267,181$3,071,276$3,946,120
63$4,358,909$3,371,123$3,118,014$4,203,384
64$4,745,600$3,478,390$3,164,549$4,483,116
65$5,169,908$3,589,088$3,210,818$4,787,518
66$5,635,614$3,703,329$3,256,756$5,119,011
67$6,146,881$3,821,226$3,302,292$5,480,262
68$6,708,295$3,942,898$3,347,350$5,874,209
69$7,324,907$4,068,467$3,391,853$6,304,086
70$8,002,284$4,198,058$3,435,716$6,773,456
71$8,746,555$4,331,801$3,478,851$7,286,241
72$9,564,475$4,469,831$3,521,164$7,846,765
73$10,463,485$4,612,286$3,562,557$8,459,786
74$11,451,782$4,759,310$3,602,924$9,130,548
75$12,538,398$4,911,050$3,642,156$9,864,828
76$13,733,282$5,067,659$3,680,135$10,668,987
77$15,047,397$5,229,294$3,716,740$11,550,036
78$16,492,822$5,396,120$3,751,841$12,515,695
79$18,082,864$5,568,304$3,785,302$13,574,472
80$19,832,184$5,746,019$3,816,978$14,735,739
81$21,756,939$5,929,446$3,846,719$16,009,822
82$23,874,928$6,118,770$3,874,365$17,408,097
83$26,205,763$6,314,182$3,899,749$18,943,098
84$28,771,055$6,515,881$3,922,694$20,628,635
85$31,594,613$6,724,070$3,943,016$22,479,924
86$34,702,676$6,938,962$3,960,519$24,513,731
87$38,124,151$7,160,773$3,974,999$26,748,527
88$41,890,894$7,389,731$3,986,240$29,204,668
89$46,038,004$7,626,066$3,994,018$31,904,580
90$50,604,158$7,870,021$3,998,095$34,872,976
91$55,631,973$8,121,843$3,998,222$38,137,087
92$61,168,410$8,381,789$3,994,139$41,726,916
93$67,265,216$8,650,125$3,985,571$45,675,527
94$73,979,412$8,927,125$3,972,231$50,019,352
95$81,373,830$9,213,072$3,953,818$54,798,536
96$89,517,706$9,508,258$3,930,017$60,057,315
97$98,487,336$9,812,986$3,900,496$65,844,437
98$108,366,791$10,127,570$3,864,910$72,213,617
99$119,248,714$10,452,330$3,822,894$79,224,046
100$131,235,191$10,787,603$3,774,069$86,940,951