Can I retire at age 59 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$241,957$239,801$237,699$235,646$233,642$228,925
2 years$119,781$117,550$115,388$113,292$111,258$106,526
3 years$79,060$76,820$74,664$72,587$70,587$65,988
4 years$58,704$56,471$54,336$52,295$50,343$45,913
5 years$46,494$44,274$42,167$40,167$38,270$34,020
6 years$38,356$36,153$34,077$32,122$30,282$26,218
7 years$32,546$30,361$28,318$26,409$24,627$20,750
8 years$28,190$26,025$24,016$22,154$20,431$16,738
9 years$24,804$22,660$20,685$18,870$17,206$13,696
10 years$22,097$19,973$18,034$16,267$14,660$11,330
11 years$19,884$17,781$15,877$14,157$12,608$9,454
12 years$18,040$15,959$14,090$12,417$10,926$7,942
13 years$16,482$14,423$12,589$10,963$9,528$6,710
14 years$15,147$13,110$11,311$9,731$8,352$5,694
15 years$13,991$11,976$10,212$8,679$7,354$4,851
16 years$12,981$10,988$9,259$7,771$6,499$4,145
17 years$12,091$10,119$8,425$6,982$5,763$3,552
18 years$11,300$9,351$7,691$6,292$5,124$3,050
19 years$10,593$8,666$7,041$5,686$4,567$2,624
20 years$9,958$8,053$6,462$5,149$4,079$2,261
21 years$9,384$7,501$5,944$4,673$3,651$1,951
22 years$8,863$7,002$5,478$4,249$3,272$1,686
23 years$8,388$6,549$5,058$3,870$2,937$1,458
24 years$7,953$6,136$4,678$3,530$2,640$1,262
25 years$7,554$5,758$4,332$3,223$2,376$1,093
26 years$7,186$5,412$4,018$2,947$2,140$947
27 years$6,846$5,093$3,731$2,698$1,929$821
28 years$6,530$4,799$3,469$2,472$1,741$713
29 years$6,237$4,527$3,228$2,267$1,572$619
30 years$5,964$4,276$3,007$2,080$1,420$537
31 years$5,709$4,042$2,803$1,910$1,284$467
32 years$5,471$3,824$2,615$1,756$1,162$405
33 years$5,247$3,622$2,442$1,615$1,051$352
34 years$5,037$3,433$2,282$1,486$952$306
35 years$4,840$3,256$2,133$1,368$862$266
36 years$4,654$3,090$1,995$1,259$781$231
37 years$4,478$2,935$1,868$1,160$708$201
38 years$4,312$2,789$1,749$1,070$642$175
39 years$4,155$2,652$1,639$986$582$152
40 years$4,006$2,524$1,536$910$528$132
41 years$3,865$2,402$1,440$839$479$115
42 years$3,730$2,288$1,351$775$435$100
43 years$3,603$2,180$1,268$715$394$87
44 years$3,481$2,078$1,190$660$358$76
45 years$3,366$1,981$1,117$610$325$66
46 years$3,255$1,890$1,049$563$295$57
47 years$3,150$1,804$986$520$268$50
48 years$3,049$1,722$926$481$243$43
49 years$2,953$1,644$871$444$221$38
50 years$2,861$1,571$819$411$201$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,930,000, adding $5,213 every year, while hoping to spend $59,922 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: 34/41/25 Blend
58$2,930,000$2,930,000$2,930,000$2,930,000
59$3,234,237$3,078,947$3,033,532$3,319,478
60$3,500,373$3,166,059$3,071,399$3,470,809
61$3,791,646$3,255,431$3,108,526$3,628,100
62$4,110,557$3,347,111$3,144,825$3,796,530
63$4,459,861$3,441,146$3,180,203$3,977,127
64$4,842,589$3,537,585$3,214,563$4,171,021
65$5,262,082$3,636,475$3,247,800$4,379,460
66$5,722,019$3,737,866$3,279,805$4,603,814
67$6,226,449$3,841,806$3,310,463$4,845,591
68$6,779,836$3,948,344$3,339,653$5,106,455
69$7,387,095$4,057,528$3,367,246$5,388,234
70$8,053,639$4,169,408$3,393,110$5,692,943
71$8,785,432$4,284,031$3,417,101$6,022,801
72$9,589,043$4,401,445$3,439,071$6,380,251
73$10,471,709$4,521,699$3,458,863$6,767,986
74$11,441,401$4,644,840$3,476,312$7,188,970
75$12,506,901$4,770,915$3,491,246$7,646,470
76$13,677,884$4,899,969$3,503,482$8,144,082
77$14,965,009$5,032,048$3,512,829$8,685,771
78$16,380,018$5,167,196$3,519,087$9,275,904
79$17,935,848$5,305,457$3,522,045$9,919,293
80$19,646,753$5,446,872$3,521,481$10,621,239
81$21,528,435$5,591,482$3,517,164$11,387,584
82$23,598,197$5,739,326$3,508,851$12,224,763
83$25,875,101$5,890,442$3,496,285$13,139,871
84$28,380,150$6,044,863$3,479,200$14,140,723
85$31,136,488$6,202,623$3,457,315$15,235,931
86$34,169,611$6,363,753$3,430,337$16,434,986
87$37,507,614$6,528,279$3,397,956$17,748,348
88$41,181,454$6,696,228$3,359,850$19,187,543
89$45,225,239$6,867,620$3,315,682$20,765,273
90$49,676,554$7,042,474$3,265,098$22,495,537
91$54,576,810$7,220,803$3,207,727$24,393,761
92$59,971,640$7,402,618$3,143,181$26,476,947
93$65,911,325$7,587,924$3,071,055$28,763,832
94$72,451,268$7,776,720$2,990,924$31,275,067
95$79,652,521$7,969,003$2,902,343$34,033,408
96$87,582,355$8,164,761$2,804,849$37,063,938
97$96,314,899$8,363,978$2,697,954$40,394,296
98$105,931,835$8,566,629$2,581,152$44,054,949
99$116,523,172$8,772,684$2,453,911$48,079,469
100$128,188,093$8,982,104$2,315,675$52,504,860