Can I retire at age 59 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$240,305$238,165$236,076$234,038$232,047$224,800
2 years$118,963$116,747$114,600$112,518$110,499$103,261
3 years$78,521$76,296$74,154$72,091$70,105$63,105
4 years$58,304$56,085$53,965$51,938$49,999$43,290
5 years$46,177$43,972$41,879$39,893$38,009$31,608
6 years$38,095$35,906$33,845$31,903$30,075$23,989
7 years$32,324$30,154$28,125$26,229$24,459$18,687
8 years$27,998$25,847$23,852$22,003$20,291$14,830
9 years$24,635$22,505$20,544$18,742$17,088$11,931
10 years$21,946$19,837$17,911$16,156$14,560$9,699
11 years$19,748$17,660$15,768$14,060$12,522$7,949
12 years$17,917$15,850$13,994$12,333$10,851$6,557
13 years$16,369$14,324$12,503$10,888$9,463$5,436
14 years$15,044$13,020$11,234$9,665$8,295$4,526
15 years$13,896$11,894$10,142$8,620$7,303$3,780
16 years$12,892$10,913$9,196$7,718$6,455$3,167
17 years$12,008$10,050$8,368$6,934$5,723$2,659
18 years$11,223$9,287$7,639$6,249$5,089$2,236
19 years$10,521$8,607$6,993$5,647$4,536$1,884
20 years$9,890$7,998$6,418$5,114$4,051$1,589
21 years$9,320$7,450$5,903$4,641$3,626$1,342
22 years$8,803$6,954$5,441$4,220$3,250$1,135
23 years$8,331$6,504$5,023$3,843$2,917$960
24 years$7,899$6,094$4,646$3,505$2,622$813
25 years$7,502$5,719$4,303$3,201$2,359$688
26 years$7,137$5,375$3,991$2,927$2,125$583
27 years$6,799$5,058$3,706$2,679$1,916$495
28 years$6,486$4,766$3,445$2,455$1,729$419
29 years$6,195$4,497$3,206$2,251$1,561$356
30 years$5,924$4,246$2,986$2,066$1,411$302
31 years$5,670$4,014$2,784$1,897$1,275$256
32 years$5,433$3,798$2,597$1,744$1,154$217
33 years$5,211$3,597$2,425$1,604$1,044$185
34 years$5,003$3,409$2,266$1,475$945$157
35 years$4,807$3,234$2,119$1,358$856$133
36 years$4,622$3,069$1,982$1,251$776$113
37 years$4,447$2,915$1,855$1,152$703$96
38 years$4,282$2,770$1,737$1,062$637$81
39 years$4,126$2,634$1,627$979$578$69
40 years$3,978$2,506$1,525$903$524$59
41 years$3,838$2,386$1,430$834$476$50
42 years$3,705$2,272$1,342$769$432$42
43 years$3,578$2,165$1,259$710$392$36
44 years$3,457$2,064$1,182$656$356$31
45 years$3,343$1,968$1,110$606$323$26
46 years$3,233$1,877$1,042$559$293$22
47 years$3,128$1,791$979$517$266$19
48 years$3,028$1,710$920$477$242$16
49 years$2,933$1,633$865$441$219$14
50 years$2,841$1,560$813$408$199$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,910,000, adding $5,623 every year, while hoping to spend $23,616 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: 59/25/16 Blend
58$2,910,000$2,910,000$2,910,000$2,910,000
59$3,212,620$3,058,390$3,013,285$3,388,670
60$3,515,180$3,183,124$3,089,103$3,633,043
61$3,847,810$3,313,178$3,166,669$3,896,307
62$4,213,551$3,448,789$3,246,017$4,182,853
63$4,615,756$3,590,202$3,327,182$4,494,931
64$5,058,117$3,737,676$3,410,196$4,835,015
65$5,544,703$3,891,480$3,495,096$5,205,827
66$6,079,996$4,051,896$3,581,915$5,610,362
67$6,668,936$4,219,219$3,670,689$6,051,913
68$7,316,965$4,393,758$3,761,454$6,534,106
69$8,030,077$4,575,835$3,854,245$7,060,930
70$8,814,881$4,765,787$3,949,099$7,636,775
71$9,678,656$4,963,967$4,046,050$8,266,473
72$10,629,422$5,170,745$4,145,136$8,955,341
73$11,676,018$5,386,506$4,246,394$9,709,234
74$12,828,183$5,611,656$4,349,858$10,534,595
75$14,096,646$5,846,615$4,455,567$11,438,517
76$15,493,232$6,091,828$4,563,557$12,428,812
77$17,030,970$6,347,756$4,673,864$13,514,077
78$18,724,216$6,614,883$4,786,526$14,703,780
79$20,588,790$6,893,716$4,901,579$16,008,345
80$22,642,124$7,184,785$5,019,059$17,439,252
81$24,903,426$7,488,645$5,139,002$19,009,141
82$27,393,863$7,805,876$5,261,446$20,731,933
83$30,136,758$8,137,085$5,386,426$22,622,956
84$33,157,814$8,482,908$5,513,977$24,699,096
85$36,485,350$8,844,011$5,644,135$26,978,945
86$40,150,577$9,221,088$5,776,935$29,482,985
87$44,187,885$9,614,870$5,912,411$32,233,771
88$48,635,169$10,026,118$6,050,596$35,256,148
89$53,534,189$10,455,632$6,191,525$38,577,484
90$58,930,965$10,904,246$6,335,229$42,227,923
91$64,876,204$11,372,835$6,481,740$46,240,669
92$71,425,788$11,862,315$6,631,089$50,652,301
93$78,641,294$12,373,643$6,783,306$55,503,111
94$86,590,578$12,907,825$6,938,420$60,837,487
95$95,348,418$13,465,909$7,096,458$66,704,327
96$104,997,214$14,048,996$7,257,446$73,157,499
97$115,627,770$14,658,237$7,421,411$80,256,348
98$127,340,149$15,294,837$7,588,374$88,066,254
99$140,244,618$15,960,058$7,758,359$96,659,245
100$154,462,690$16,655,222$7,931,385$106,114,676