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

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$234,525$232,436$230,397$228,408$226,466$223,173
2 years$116,101$113,939$111,843$109,812$107,841$104,531
3 years$76,632$74,460$72,370$70,357$68,419$65,194
4 years$56,901$54,736$52,667$50,689$48,797$45,682
5 years$45,066$42,914$40,872$38,934$37,094$34,099
6 years$37,178$35,042$33,030$31,136$29,352$26,479
7 years$31,546$29,429$27,448$25,598$23,871$21,121
8 years$27,324$25,226$23,278$21,474$19,803$17,177
9 years$24,042$21,964$20,050$18,291$16,677$14,173
10 years$21,418$19,360$17,480$15,767$14,210$11,825
11 years$19,273$17,235$15,389$13,722$12,221$9,954
12 years$17,486$15,469$13,657$12,036$10,590$8,438
13 years$15,975$13,980$12,202$10,626$9,235$7,195
14 years$14,682$12,707$10,963$9,433$8,095$6,164
15 years$13,561$11,608$9,899$8,412$7,128$5,302
16 years$12,582$10,650$8,974$7,532$6,300$4,576
17 years$11,719$9,808$8,166$6,768$5,586$3,960
18 years$10,953$9,063$7,455$6,099$4,966$3,435
19 years$10,268$8,400$6,825$5,511$4,427$2,986
20 years$9,652$7,806$6,263$4,991$3,954$2,600
21 years$9,096$7,271$5,761$4,530$3,538$2,268
22 years$8,591$6,787$5,310$4,119$3,172$1,980
23 years$8,131$6,348$4,903$3,751$2,847$1,731
24 years$7,709$5,947$4,534$3,421$2,559$1,515
25 years$7,322$5,581$4,199$3,124$2,303$1,327
26 years$6,965$5,245$3,895$2,857$2,074$1,163
27 years$6,635$4,937$3,617$2,615$1,870$1,020
28 years$6,330$4,652$3,362$2,396$1,687$895
29 years$6,046$4,388$3,129$2,197$1,524$786
30 years$5,781$4,144$2,914$2,016$1,377$690
31 years$5,534$3,918$2,717$1,852$1,245$606
32 years$5,303$3,707$2,535$1,702$1,126$533
33 years$5,086$3,511$2,367$1,565$1,019$469
34 years$4,882$3,327$2,211$1,440$923$412
35 years$4,691$3,156$2,068$1,326$836$363
36 years$4,511$2,995$1,934$1,221$757$319
37 years$4,340$2,845$1,810$1,125$686$281
38 years$4,179$2,704$1,695$1,037$622$247
39 years$4,027$2,571$1,588$956$564$217
40 years$3,883$2,446$1,489$882$512$191
41 years$3,746$2,328$1,396$813$464$168
42 years$3,616$2,217$1,309$751$421$148
43 years$3,492$2,113$1,229$693$382$131
44 years$3,374$2,014$1,153$640$347$115
45 years$3,262$1,920$1,083$591$315$101
46 years$3,155$1,832$1,017$546$286$89
47 years$3,053$1,748$956$504$260$79
48 years$2,955$1,669$898$466$236$69
49 years$2,862$1,594$844$431$214$61
50 years$2,773$1,522$794$398$195$54

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 $3,779 every year, while hoping to spend $40,574 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: 30/41/29 Blend
58$2,840,000$2,840,000$2,840,000$2,840,000
59$3,133,578$2,983,058$2,939,038$3,199,583
60$3,410,033$3,086,057$2,994,325$3,354,691
61$3,713,326$3,192,744$3,050,105$3,517,645
62$4,046,152$3,303,255$3,106,351$3,692,149
63$4,411,479$3,417,735$3,163,033$3,879,239
64$4,812,578$3,536,332$3,220,123$4,080,050
65$5,253,049$3,659,200$3,277,585$4,295,830
66$5,736,860$3,786,501$3,335,384$4,527,948
67$6,268,382$3,918,402$3,393,482$4,777,910
68$6,852,430$4,055,076$3,451,836$5,047,370
69$7,494,308$4,196,705$3,510,402$5,338,146
70$8,199,859$4,343,475$3,569,133$5,652,237
71$8,975,522$4,495,583$3,627,977$5,991,840
72$9,828,391$4,653,232$3,686,879$6,359,371
73$10,766,278$4,816,632$3,745,781$6,757,487
74$11,797,796$4,986,004$3,804,622$7,189,110
75$12,932,428$5,161,576$3,863,334$7,657,455
76$14,180,628$5,343,585$3,921,848$8,166,058
77$15,553,911$5,532,280$3,980,089$8,718,812
78$17,064,965$5,727,916$4,037,976$9,319,996
79$18,727,769$5,930,762$4,095,427$9,974,324
80$20,557,728$6,141,096$4,152,350$10,686,980
81$22,571,815$6,359,208$4,208,652$11,463,672
82$24,788,730$6,585,399$4,264,232$12,310,682
83$27,229,080$6,819,983$4,318,983$13,234,926
84$29,915,570$7,063,287$4,372,793$14,244,017
85$32,873,220$7,315,649$4,425,543$15,346,338
86$36,129,597$7,577,425$4,477,108$16,551,117
87$39,715,079$7,848,982$4,527,354$17,868,515
88$43,663,139$8,130,704$4,576,142$19,309,721
89$48,010,660$8,422,989$4,623,324$20,887,057
90$52,798,285$8,726,253$4,668,743$22,614,092
91$58,070,800$9,040,930$4,712,236$24,505,768
92$63,877,555$9,367,469$4,753,629$26,578,544
93$70,272,931$9,706,339$4,792,740$28,850,543
94$77,316,850$10,058,030$4,829,377$31,341,731
95$85,075,345$10,423,051$4,863,338$34,074,096
96$93,621,181$10,801,931$4,894,411$37,071,857
97$103,034,539$11,195,222$4,922,371$40,361,695
98$113,403,775$11,603,501$4,946,983$43,972,997
99$124,826,254$12,027,367$4,968,001$47,938,135
100$137,409,267$12,467,444$4,985,165$52,292,772