Can I retire at age 59 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$239,479$237,346$235,265$233,234$231,250$224,207
2 years$118,554$116,346$114,206$112,132$110,119$103,084
3 years$78,251$76,033$73,899$71,844$69,864$63,057
4 years$58,103$55,893$53,780$51,759$49,828$43,301
5 years$46,018$43,821$41,735$39,756$37,878$31,650
6 years$37,964$35,783$33,728$31,793$29,972$24,047
7 years$32,213$30,050$28,028$26,139$24,375$18,754
8 years$27,902$25,759$23,770$21,927$20,221$14,900
9 years$24,550$22,428$20,473$18,677$17,029$12,002
10 years$21,871$19,769$17,849$16,100$14,510$9,769
11 years$19,680$17,599$15,714$14,012$12,479$8,017
12 years$17,855$15,796$13,946$12,290$10,814$6,622
13 years$16,313$14,275$12,460$10,850$9,430$5,497
14 years$14,992$12,975$11,195$9,632$8,266$4,583
15 years$13,848$11,853$10,108$8,590$7,278$3,834
16 years$12,848$10,875$9,164$7,691$6,433$3,216
17 years$11,967$10,016$8,339$6,911$5,704$2,704
18 years$11,184$9,255$7,612$6,228$5,071$2,278
19 years$10,485$8,577$6,969$5,627$4,520$1,922
20 years$9,856$7,970$6,396$5,097$4,038$1,624
21 years$9,288$7,424$5,883$4,626$3,613$1,374
22 years$8,772$6,930$5,422$4,206$3,239$1,163
23 years$8,302$6,482$5,006$3,830$2,907$985
24 years$7,872$6,073$4,630$3,493$2,613$835
25 years$7,477$5,699$4,288$3,190$2,351$709
26 years$7,112$5,356$3,977$2,917$2,118$602
27 years$6,776$5,041$3,693$2,670$1,910$511
28 years$6,463$4,750$3,433$2,446$1,723$434
29 years$6,173$4,481$3,195$2,243$1,556$369
30 years$5,903$4,232$2,976$2,059$1,406$313
31 years$5,651$4,001$2,774$1,891$1,271$266
32 years$5,415$3,785$2,588$1,738$1,150$226
33 years$5,193$3,585$2,417$1,598$1,040$193
34 years$4,986$3,398$2,258$1,470$942$164
35 years$4,790$3,223$2,111$1,354$853$139
36 years$4,606$3,059$1,975$1,247$773$118
37 years$4,432$2,905$1,849$1,149$701$101
38 years$4,268$2,761$1,731$1,059$635$86
39 years$4,112$2,625$1,622$976$576$73
40 years$3,965$2,498$1,520$900$522$62
41 years$3,825$2,378$1,425$831$474$53
42 years$3,692$2,264$1,337$767$430$45
43 years$3,566$2,157$1,255$708$390$38
44 years$3,446$2,056$1,178$653$354$33
45 years$3,331$1,961$1,106$603$322$28
46 years$3,222$1,871$1,039$557$292$24
47 years$3,118$1,785$976$515$265$20
48 years$3,018$1,704$917$476$241$17
49 years$2,923$1,628$862$440$219$15
50 years$2,831$1,555$810$406$199$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,900,000, adding $2,157 every year, while hoping to spend $46,652 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: 54/40/6 Blend
58$2,900,000$2,900,000$2,900,000$2,900,000
59$3,198,025$3,044,325$2,999,375$3,366,300
60$3,474,586$3,143,860$3,050,217$3,579,771
61$3,777,793$3,246,708$3,101,198$3,806,639
62$4,110,314$3,352,983$3,152,274$4,052,400
63$4,475,089$3,462,801$3,203,398$4,318,848
64$4,875,354$3,576,285$3,254,518$4,607,957
65$5,314,677$3,693,560$3,305,581$4,921,900
66$5,796,985$3,814,755$3,356,529$5,263,064
67$6,326,604$3,940,005$3,407,300$5,634,078
68$6,908,302$4,069,450$3,457,829$6,037,832
69$7,547,330$4,203,233$3,508,047$6,477,508
70$8,249,471$4,341,505$3,557,880$6,956,606
71$9,021,099$4,484,421$3,607,251$7,478,978
72$9,869,233$4,632,140$3,656,076$8,048,865
73$10,801,609$4,784,828$3,704,268$8,670,934
74$11,826,746$4,942,658$3,751,735$9,350,321
75$12,954,034$5,105,809$3,798,378$10,092,683
76$14,193,816$5,274,463$3,844,094$10,904,246
77$15,557,487$5,448,814$3,888,773$11,791,864
78$17,057,604$5,629,059$3,932,300$12,763,087
79$18,708,000$5,815,403$3,974,552$13,826,224
80$20,523,918$6,008,060$4,015,401$14,990,428
81$22,522,152$6,207,249$4,054,711$16,265,778
82$24,721,207$6,413,200$4,092,340$17,663,372
83$27,141,472$6,626,148$4,128,135$19,195,433
84$29,805,413$6,846,341$4,161,939$20,875,425
85$32,737,785$7,074,031$4,193,583$22,718,174
86$35,965,863$7,309,483$4,222,893$24,740,013
87$39,519,704$7,552,970$4,249,682$26,958,929
88$43,432,424$7,804,776$4,273,757$29,394,738
89$47,740,515$8,065,194$4,294,912$32,069,266
90$52,484,188$8,334,529$4,312,932$35,006,556
91$57,707,752$8,613,097$4,327,591$38,233,095
92$63,460,029$8,901,226$4,338,652$41,778,058
93$69,794,820$9,199,254$4,345,865$45,673,589
94$76,771,409$9,507,534$4,348,969$49,955,098
95$84,455,122$9,826,433$4,347,688$54,661,596
96$92,917,943$10,156,327$4,341,735$59,836,062
97$102,239,197$10,497,611$4,330,807$65,525,845
98$112,506,294$10,850,692$4,314,587$71,783,113
99$123,815,553$11,215,993$4,292,743$78,665,343
100$136,273,115$11,593,953$4,264,926$86,235,858