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

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$240,305$238,165$236,076$234,038$232,047$223,105
2 years$118,963$116,747$114,600$112,518$110,499$101,596
3 years$78,521$76,296$74,154$72,091$70,105$61,522
4 years$58,304$56,085$53,965$51,938$49,999$41,802
5 years$46,177$43,972$41,879$39,893$38,009$30,218
6 years$38,095$35,906$33,845$31,903$30,075$22,695
7 years$32,324$30,154$28,125$26,229$24,459$17,489
8 years$27,998$25,847$23,852$22,003$20,291$13,723
9 years$24,635$22,505$20,544$18,742$17,088$10,913
10 years$21,946$19,837$17,911$16,156$14,560$8,766
11 years$19,748$17,660$15,768$14,060$12,522$7,096
12 years$17,917$15,850$13,994$12,333$10,851$5,780
13 years$16,369$14,324$12,503$10,888$9,463$4,730
14 years$15,044$13,020$11,234$9,665$8,295$3,886
15 years$13,896$11,894$10,142$8,620$7,303$3,203
16 years$12,892$10,913$9,196$7,718$6,455$2,646
17 years$12,008$10,050$8,368$6,934$5,723$2,191
18 years$11,223$9,287$7,639$6,249$5,089$1,817
19 years$10,521$8,607$6,993$5,647$4,536$1,509
20 years$9,890$7,998$6,418$5,114$4,051$1,254
21 years$9,320$7,450$5,903$4,641$3,626$1,044
22 years$8,803$6,954$5,441$4,220$3,250$869
23 years$8,331$6,504$5,023$3,843$2,917$725
24 years$7,899$6,094$4,646$3,505$2,622$604
25 years$7,502$5,719$4,303$3,201$2,359$504
26 years$7,137$5,375$3,991$2,927$2,125$421
27 years$6,799$5,058$3,706$2,679$1,916$351
28 years$6,486$4,766$3,445$2,455$1,729$293
29 years$6,195$4,497$3,206$2,251$1,561$245
30 years$5,924$4,246$2,986$2,066$1,411$205
31 years$5,670$4,014$2,784$1,897$1,275$171
32 years$5,433$3,798$2,597$1,744$1,154$143
33 years$5,211$3,597$2,425$1,604$1,044$119
34 years$5,003$3,409$2,266$1,475$945$100
35 years$4,807$3,234$2,119$1,358$856$83
36 years$4,622$3,069$1,982$1,251$776$70
37 years$4,447$2,915$1,855$1,152$703$58
38 years$4,282$2,770$1,737$1,062$637$49
39 years$4,126$2,634$1,627$979$578$41
40 years$3,978$2,506$1,525$903$524$34
41 years$3,838$2,386$1,430$834$476$28
42 years$3,705$2,272$1,342$769$432$24
43 years$3,578$2,165$1,259$710$392$20
44 years$3,457$2,064$1,182$656$356$17
45 years$3,343$1,968$1,110$606$323$14
46 years$3,233$1,877$1,042$559$293$12
47 years$3,128$1,791$979$517$266$10
48 years$3,028$1,710$920$477$242$8
49 years$2,933$1,633$865$441$219$7
50 years$2,841$1,560$813$408$199$6

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 $3,434 every year, while hoping to spend $56,672 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: 45/35/20 Blend
58$2,910,000$2,910,000$2,910,000$2,910,000
59$3,210,362$3,056,132$3,011,027$3,336,210
60$3,477,521$3,145,584$3,051,598$3,514,375
61$3,770,030$3,237,520$3,091,629$3,701,591
62$4,090,415$3,332,001$3,131,041$3,903,442
63$4,441,460$3,429,091$3,169,753$4,121,314
64$4,826,226$3,528,854$3,207,677$4,356,732
65$5,248,088$3,631,354$3,244,721$4,611,374
66$5,710,762$3,736,660$3,280,788$4,887,086
67$6,218,340$3,844,837$3,315,775$5,185,903
68$6,775,332$3,955,955$3,349,575$5,510,064
69$7,386,703$4,070,084$3,382,072$5,862,032
70$8,057,923$4,187,294$3,413,148$6,244,521
71$8,795,016$4,307,657$3,442,674$6,660,521
72$9,604,622$4,431,246$3,470,518$7,113,322
73$10,494,052$4,558,136$3,496,538$7,606,549
74$11,471,361$4,688,400$3,520,588$8,144,192
75$12,545,424$4,822,115$3,542,511$8,730,649
76$13,726,016$4,959,358$3,562,145$9,370,763
77$15,023,909$5,100,206$3,579,316$10,069,867
78$16,450,969$5,244,737$3,593,844$10,833,838
79$18,020,269$5,393,031$3,605,540$11,669,150
80$19,746,215$5,545,167$3,614,203$12,582,932
81$21,644,674$5,701,226$3,619,625$13,583,043
82$23,733,134$5,861,289$3,621,585$14,678,136
83$26,030,859$6,025,438$3,619,853$15,877,749
84$28,559,075$6,193,753$3,614,187$17,192,387
85$31,341,171$6,366,317$3,604,332$18,633,628
86$34,402,917$6,543,213$3,590,024$20,214,225
87$37,772,706$6,724,522$3,570,981$21,948,232
88$41,481,826$6,910,327$3,546,913$23,851,134
89$45,564,749$7,100,711$3,517,512$25,939,993
90$50,059,462$7,295,754$3,482,457$28,233,611
91$55,007,819$7,495,538$3,441,411$30,752,704
92$60,455,941$7,700,144$3,394,023$33,520,100
93$66,454,647$7,909,651$3,339,923$36,560,954
94$73,059,936$8,124,138$3,278,725$39,902,985
95$80,333,511$8,343,683$3,210,024$43,576,737
96$88,343,368$8,568,362$3,133,398$47,615,869
97$97,164,429$8,798,249$3,048,404$52,057,472
98$106,879,254$9,033,416$2,954,579$56,942,419
99$117,578,819$9,273,935$2,851,439$62,315,751
100$129,363,372$9,519,872$2,738,476$68,227,102