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%12.2%
1 years$240,305$238,165$236,076$234,038$232,047$229,911
2 years$118,963$116,747$114,600$112,518$110,499$108,346
3 years$78,521$76,296$74,154$72,091$70,105$68,003
4 years$58,304$56,085$53,965$51,938$49,999$47,965
5 years$46,177$43,972$41,879$39,893$38,009$36,047
6 years$38,095$35,906$33,845$31,903$30,075$28,188
7 years$32,324$30,154$28,125$26,229$24,459$22,648
8 years$27,998$25,847$23,852$22,003$20,291$18,556
9 years$24,635$22,505$20,544$18,742$17,088$15,429
10 years$21,946$19,837$17,911$16,156$14,560$12,975
11 years$19,748$17,660$15,768$14,060$12,522$11,011
12 years$17,917$15,850$13,994$12,333$10,851$9,412
13 years$16,369$14,324$12,503$10,888$9,463$8,093
14 years$15,044$13,020$11,234$9,665$8,295$6,994
15 years$13,896$11,894$10,142$8,620$7,303$6,069
16 years$12,892$10,913$9,196$7,718$6,455$5,284
17 years$12,008$10,050$8,368$6,934$5,723$4,615
18 years$11,223$9,287$7,639$6,249$5,089$4,041
19 years$10,521$8,607$6,993$5,647$4,536$3,546
20 years$9,890$7,998$6,418$5,114$4,051$3,118
21 years$9,320$7,450$5,903$4,641$3,626$2,746
22 years$8,803$6,954$5,441$4,220$3,250$2,421
23 years$8,331$6,504$5,023$3,843$2,917$2,138
24 years$7,899$6,094$4,646$3,505$2,622$1,890
25 years$7,502$5,719$4,303$3,201$2,359$1,672
26 years$7,137$5,375$3,991$2,927$2,125$1,481
27 years$6,799$5,058$3,706$2,679$1,916$1,312
28 years$6,486$4,766$3,445$2,455$1,729$1,164
29 years$6,195$4,497$3,206$2,251$1,561$1,032
30 years$5,924$4,246$2,986$2,066$1,411$916
31 years$5,670$4,014$2,784$1,897$1,275$814
32 years$5,433$3,798$2,597$1,744$1,154$723
33 years$5,211$3,597$2,425$1,604$1,044$643
34 years$5,003$3,409$2,266$1,475$945$571
35 years$4,807$3,234$2,119$1,358$856$508
36 years$4,622$3,069$1,982$1,251$776$452
37 years$4,447$2,915$1,855$1,152$703$402
38 years$4,282$2,770$1,737$1,062$637$358
39 years$4,126$2,634$1,627$979$578$318
40 years$3,978$2,506$1,525$903$524$284
41 years$3,838$2,386$1,430$834$476$252
42 years$3,705$2,272$1,342$769$432$225
43 years$3,578$2,165$1,259$710$392$200
44 years$3,457$2,064$1,182$656$356$178
45 years$3,343$1,968$1,110$606$323$159
46 years$3,233$1,877$1,042$559$293$141
47 years$3,128$1,791$979$517$266$126
48 years$3,028$1,710$920$477$242$112
49 years$2,933$1,633$865$441$219$100
50 years$2,841$1,560$813$408$199$89

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 $6,992 every year, while hoping to spend $53,646 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: 37/48/15 Blend
58$2,910,000$2,910,000$2,910,000$2,910,000
59$3,214,032$3,059,802$3,014,697$3,318,037
60$3,484,785$3,152,654$3,058,611$3,486,255
61$3,781,356$3,248,257$3,102,197$3,662,193
62$4,106,322$3,346,690$3,145,389$3,851,077
63$4,462,523$3,448,033$3,188,115$4,054,093
64$4,853,082$3,552,369$3,230,299$4,272,545
65$5,281,443$3,659,781$3,271,861$4,507,867
66$5,751,398$3,770,358$3,312,715$4,761,636
67$6,267,121$3,884,187$3,352,773$5,035,586
68$6,833,215$4,001,359$3,391,938$5,331,624
69$7,454,746$4,121,969$3,430,111$5,651,847
70$8,137,297$4,246,112$3,467,186$5,998,563
71$8,887,015$4,373,886$3,503,051$6,374,313
72$9,710,676$4,505,391$3,537,589$6,781,890
73$10,615,742$4,640,732$3,570,675$7,224,370
74$11,610,434$4,780,014$3,602,178$7,705,139
75$12,703,809$4,923,345$3,631,962$8,227,923
76$13,905,844$5,070,837$3,659,880$8,796,824
77$15,227,535$5,222,602$3,685,780$9,416,358
78$16,680,991$5,378,757$3,709,501$10,091,497
79$18,279,558$5,539,422$3,730,875$10,827,716
80$20,037,937$5,704,718$3,749,724$11,631,044
81$21,972,328$5,874,771$3,765,861$12,508,121
82$24,100,578$6,049,707$3,779,090$13,466,257
83$26,442,353$6,229,658$3,789,205$14,513,505
84$29,019,319$6,414,758$3,795,990$15,658,734
85$31,855,351$6,605,142$3,799,217$16,911,711
86$34,976,754$6,800,952$3,798,648$18,283,196
87$38,412,513$7,002,329$3,794,033$19,785,042
88$42,194,566$7,209,419$3,785,110$21,430,302
89$46,358,103$7,422,372$3,771,603$23,233,359
90$50,941,902$7,641,340$3,753,223$25,210,056
91$55,988,689$7,866,479$3,729,669$27,377,845
92$61,545,546$8,097,947$3,700,624$29,755,955
93$67,664,351$8,335,906$3,665,754$32,365,570
94$74,402,271$8,580,522$3,624,713$35,230,028
95$81,822,298$8,831,963$3,577,136$38,375,042
96$89,993,844$9,090,401$3,522,642$41,828,941
97$98,993,396$9,356,010$3,460,831$45,622,940
98$108,905,239$9,628,971$3,391,285$49,791,430
99$119,822,246$9,909,464$3,313,566$54,372,303
100$131,846,762$10,197,674$3,227,217$59,407,312