Can I retire at age 59 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$234,525$232,436$230,397$228,408$226,466$217,738
2 years$116,101$113,939$111,843$109,812$107,841$99,152
3 years$76,632$74,460$72,370$70,357$68,419$60,042
4 years$56,901$54,736$52,667$50,689$48,797$40,796
5 years$45,066$42,914$40,872$38,934$37,094$29,491
6 years$37,178$35,042$33,030$31,136$29,352$22,149
7 years$31,546$29,429$27,448$25,598$23,871$17,068
8 years$27,324$25,226$23,278$21,474$19,803$13,393
9 years$24,042$21,964$20,050$18,291$16,677$10,650
10 years$21,418$19,360$17,480$15,767$14,210$8,555
11 years$19,273$17,235$15,389$13,722$12,221$6,926
12 years$17,486$15,469$13,657$12,036$10,590$5,641
13 years$15,975$13,980$12,202$10,626$9,235$4,616
14 years$14,682$12,707$10,963$9,433$8,095$3,793
15 years$13,561$11,608$9,899$8,412$7,128$3,125
16 years$12,582$10,650$8,974$7,532$6,300$2,582
17 years$11,719$9,808$8,166$6,768$5,586$2,138
18 years$10,953$9,063$7,455$6,099$4,966$1,773
19 years$10,268$8,400$6,825$5,511$4,427$1,472
20 years$9,652$7,806$6,263$4,991$3,954$1,224
21 years$9,096$7,271$5,761$4,530$3,538$1,019
22 years$8,591$6,787$5,310$4,119$3,172$849
23 years$8,131$6,348$4,903$3,751$2,847$707
24 years$7,709$5,947$4,534$3,421$2,559$590
25 years$7,322$5,581$4,199$3,124$2,303$492
26 years$6,965$5,245$3,895$2,857$2,074$411
27 years$6,635$4,937$3,617$2,615$1,870$343
28 years$6,330$4,652$3,362$2,396$1,687$286
29 years$6,046$4,388$3,129$2,197$1,524$239
30 years$5,781$4,144$2,914$2,016$1,377$200
31 years$5,534$3,918$2,717$1,852$1,245$167
32 years$5,303$3,707$2,535$1,702$1,126$139
33 years$5,086$3,511$2,367$1,565$1,019$116
34 years$4,882$3,327$2,211$1,440$923$97
35 years$4,691$3,156$2,068$1,326$836$81
36 years$4,511$2,995$1,934$1,221$757$68
37 years$4,340$2,845$1,810$1,125$686$57
38 years$4,179$2,704$1,695$1,037$622$48
39 years$4,027$2,571$1,588$956$564$40
40 years$3,883$2,446$1,489$882$512$33
41 years$3,746$2,328$1,396$813$464$28
42 years$3,616$2,217$1,309$751$421$23
43 years$3,492$2,113$1,229$693$382$19
44 years$3,374$2,014$1,153$640$347$16
45 years$3,262$1,920$1,083$591$315$14
46 years$3,155$1,832$1,017$546$286$11
47 years$3,053$1,748$956$504$260$9
48 years$2,955$1,669$898$466$236$8
49 years$2,862$1,594$844$431$214$7
50 years$2,773$1,522$794$398$195$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,840,000, adding $2,208 every year, while hoping to spend $38,068 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: 54/35/11 Blend
58$2,840,000$2,840,000$2,840,000$2,840,000
59$3,131,958$2,981,438$2,937,418$3,292,168
60$3,410,913$3,087,024$2,995,317$3,506,765
61$3,717,046$3,196,508$3,053,880$3,735,890
62$4,053,089$3,310,041$3,113,089$3,984,377
63$4,422,051$3,427,780$3,172,924$4,254,072
64$4,827,246$3,549,887$3,233,363$4,547,004
65$5,272,327$3,676,533$3,294,383$4,865,408
66$5,761,316$3,807,895$3,355,956$5,211,738
67$6,298,645$3,944,157$3,418,056$5,588,697
68$6,889,197$4,085,511$3,480,651$5,999,257
69$7,538,350$4,232,155$3,543,707$6,446,688
70$8,252,030$4,384,299$3,607,189$6,934,589
71$9,036,765$4,542,158$3,671,058$7,466,921
72$9,899,748$4,705,957$3,735,272$8,048,040
73$10,848,905$4,875,931$3,799,787$8,682,745
74$11,892,966$5,052,325$3,864,552$9,376,316
75$13,041,552$5,235,392$3,929,518$10,134,565
76$14,305,262$5,425,398$3,994,629$10,963,890
77$15,695,775$5,622,619$4,059,825$11,871,337
78$17,225,959$5,827,342$4,125,044$12,864,661
79$18,909,991$6,039,866$4,190,217$13,952,402
80$20,763,495$6,260,504$4,255,274$15,143,963
81$22,803,684$6,489,581$4,320,138$16,449,699
82$25,049,525$6,727,436$4,384,728$17,881,011
83$27,521,917$6,974,421$4,448,957$19,450,456
84$30,243,890$7,230,905$4,512,734$21,171,864
85$33,240,818$7,497,270$4,575,962$23,060,464
86$36,540,662$7,773,918$4,638,538$25,133,030
87$40,174,233$8,061,263$4,700,352$27,408,039
88$44,175,481$8,359,740$4,761,290$29,905,838
89$48,581,815$8,669,803$4,821,228$32,648,844
90$53,434,459$8,991,922$4,880,038$35,661,745
91$58,778,837$9,326,590$4,937,583$38,971,739
92$64,665,005$9,674,319$4,993,719$42,608,784
93$71,148,120$10,035,646$5,048,293$46,605,883
94$78,288,963$10,411,126$5,101,145$50,999,391
95$86,154,508$10,801,343$5,152,105$55,829,359
96$94,818,562$11,206,903$5,200,994$61,139,911
97$104,362,453$11,628,439$5,247,625$66,979,653
98$114,875,801$12,066,610$5,291,798$73,402,137
99$126,457,364$12,522,105$5,333,305$80,466,363
100$139,215,970$12,995,643$5,371,925$88,237,329