Can I retire at age 59 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$238,653$236,528$234,454$232,429$230,453$224,608
2 years$118,145$115,945$113,812$111,745$109,739$103,889
3 years$77,981$75,771$73,644$71,596$69,623$63,950
4 years$57,903$55,700$53,594$51,581$49,656$44,204
5 years$45,859$43,669$41,591$39,619$37,748$32,531
6 years$37,833$35,659$33,612$31,684$29,868$24,893
7 years$32,102$29,947$27,932$26,049$24,291$19,557
8 years$27,805$25,670$23,688$21,852$20,152$15,657
9 years$24,466$22,350$20,403$18,613$16,971$12,712
10 years$21,795$19,701$17,788$16,044$14,460$10,432
11 years$19,612$17,538$15,660$13,964$12,436$8,632
12 years$17,794$15,741$13,898$12,248$10,777$7,191
13 years$16,257$14,226$12,417$10,813$9,398$6,023
14 years$14,940$12,931$11,156$9,599$8,238$5,066
15 years$13,800$11,812$10,073$8,560$7,253$4,277
16 years$12,804$10,838$9,132$7,665$6,410$3,621
17 years$11,925$9,981$8,310$6,887$5,684$3,074
18 years$11,146$9,223$7,586$6,206$5,054$2,614
19 years$10,449$8,548$6,945$5,608$4,505$2,228
20 years$9,822$7,943$6,374$5,079$4,024$1,901
21 years$9,256$7,399$5,862$4,610$3,601$1,624
22 years$8,742$6,906$5,403$4,191$3,228$1,389
23 years$8,274$6,459$4,989$3,817$2,897$1,189
24 years$7,845$6,052$4,614$3,481$2,604$1,019
25 years$7,451$5,679$4,273$3,179$2,343$873
26 years$7,088$5,338$3,963$2,907$2,111$749
27 years$6,752$5,024$3,680$2,661$1,903$643
28 years$6,441$4,734$3,421$2,438$1,717$552
29 years$6,152$4,466$3,184$2,236$1,551$474
30 years$5,883$4,217$2,966$2,052$1,401$407
31 years$5,631$3,987$2,765$1,884$1,267$350
32 years$5,396$3,772$2,580$1,732$1,146$301
33 years$5,176$3,572$2,409$1,593$1,037$258
34 years$4,968$3,386$2,250$1,465$939$222
35 years$4,774$3,211$2,104$1,349$850$191
36 years$4,590$3,048$1,968$1,242$770$164
37 years$4,417$2,895$1,842$1,145$698$141
38 years$4,253$2,751$1,725$1,055$633$121
39 years$4,098$2,616$1,616$973$574$105
40 years$3,951$2,489$1,515$897$521$90
41 years$3,812$2,369$1,421$828$472$77
42 years$3,679$2,257$1,332$764$429$67
43 years$3,554$2,150$1,250$705$389$57
44 years$3,434$2,049$1,174$651$353$49
45 years$3,320$1,954$1,102$601$321$42
46 years$3,211$1,864$1,035$555$291$36
47 years$3,107$1,779$972$513$264$31
48 years$3,007$1,698$914$474$240$27
49 years$2,913$1,622$859$438$218$23
50 years$2,822$1,549$808$405$198$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,890,000, adding $3,138 every year, while hoping to spend $56,724 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: 79/14/7 Blend
58$2,890,000$2,890,000$2,890,000$2,890,000
59$3,188,017$3,034,847$2,990,052$3,437,146
60$3,452,841$3,123,200$3,029,865$3,689,262
61$3,742,775$3,213,982$3,069,110$3,958,015
62$4,060,322$3,307,251$3,107,709$4,251,131
63$4,408,236$3,403,068$3,145,579$4,571,011
64$4,789,551$3,501,493$3,182,630$4,920,299
65$5,207,608$3,602,588$3,218,771$5,301,905
66$5,666,086$3,706,417$3,253,902$5,719,036
67$6,169,039$3,813,044$3,287,920$6,175,223
68$6,720,931$3,922,533$3,320,715$6,674,353
69$7,326,680$4,034,951$3,352,173$7,220,710
70$7,991,702$4,150,364$3,382,171$7,819,010
71$8,721,963$4,268,840$3,410,582$8,474,449
72$9,524,037$4,390,447$3,437,270$9,192,749
73$10,405,165$4,515,254$3,462,094$9,980,213
74$11,373,322$4,643,332$3,484,905$10,843,787
75$12,437,296$4,774,751$3,505,544$11,791,118
76$13,606,768$4,909,582$3,523,848$12,830,635
77$14,892,404$5,047,897$3,539,643$13,971,620
78$16,305,954$5,189,769$3,552,745$15,224,300
79$17,860,363$5,335,269$3,562,964$16,599,944
80$19,569,895$5,484,472$3,570,099$18,110,964
81$21,450,265$5,637,451$3,573,937$19,771,037
82$23,518,785$5,794,280$3,574,257$21,595,232
83$25,794,533$5,955,032$3,570,827$23,600,151
84$28,298,528$6,119,780$3,563,402$25,804,084
85$31,053,928$6,288,600$3,551,726$28,227,188
86$34,086,251$6,461,564$3,535,531$30,891,668
87$37,423,612$6,638,744$3,514,535$33,821,993
88$41,096,993$6,820,215$3,488,444$37,045,122
89$45,140,527$7,006,046$3,456,948$40,590,761
90$49,591,829$7,196,311$3,419,724$44,491,645
91$54,492,343$7,391,077$3,376,432$48,783,838
92$59,887,737$7,590,415$3,326,718$53,507,085
93$65,828,332$7,794,392$3,270,209$58,705,177
94$72,369,578$8,003,073$3,206,517$64,426,369
95$79,572,573$8,216,522$3,135,233$70,723,832
96$87,504,645$8,434,800$3,055,933$77,656,160
97$96,239,982$8,657,969$2,968,170$85,287,916
98$105,860,334$8,886,083$2,871,477$93,690,245
99$116,455,783$9,119,196$2,765,367$102,941,545
100$128,125,596$9,357,360$2,649,330$113,128,205