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

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$241,957$239,801$237,699$235,646$233,642$225,352
2 years$119,781$117,550$115,388$113,292$111,258$102,995
3 years$79,060$76,820$74,664$72,587$70,587$62,609
4 years$58,704$56,471$54,336$52,295$50,343$42,713
5 years$46,494$44,274$42,167$40,167$38,270$31,006
6 years$38,356$36,153$34,077$32,122$30,282$23,391
7 years$32,546$30,361$28,318$26,409$24,627$18,107
8 years$28,190$26,025$24,016$22,154$20,431$14,276
9 years$24,804$22,660$20,685$18,870$17,206$11,409
10 years$22,097$19,973$18,034$16,267$14,660$9,211
11 years$19,884$17,781$15,877$14,157$12,608$7,495
12 years$18,040$15,959$14,090$12,417$10,926$6,137
13 years$16,482$14,423$12,589$10,963$9,528$5,050
14 years$15,147$13,110$11,311$9,731$8,352$4,172
15 years$13,991$11,976$10,212$8,679$7,354$3,458
16 years$12,981$10,988$9,259$7,771$6,499$2,874
17 years$12,091$10,119$8,425$6,982$5,763$2,393
18 years$11,300$9,351$7,691$6,292$5,124$1,997
19 years$10,593$8,666$7,041$5,686$4,567$1,668
20 years$9,958$8,053$6,462$5,149$4,079$1,396
21 years$9,384$7,501$5,944$4,673$3,651$1,169
22 years$8,863$7,002$5,478$4,249$3,272$979
23 years$8,388$6,549$5,058$3,870$2,937$821
24 years$7,953$6,136$4,678$3,530$2,640$689
25 years$7,554$5,758$4,332$3,223$2,376$579
26 years$7,186$5,412$4,018$2,947$2,140$486
27 years$6,846$5,093$3,731$2,698$1,929$408
28 years$6,530$4,799$3,469$2,472$1,741$343
29 years$6,237$4,527$3,228$2,267$1,572$289
30 years$5,964$4,276$3,007$2,080$1,420$243
31 years$5,709$4,042$2,803$1,910$1,284$204
32 years$5,471$3,824$2,615$1,756$1,162$172
33 years$5,247$3,622$2,442$1,615$1,051$144
34 years$5,037$3,433$2,282$1,486$952$121
35 years$4,840$3,256$2,133$1,368$862$102
36 years$4,654$3,090$1,995$1,259$781$86
37 years$4,478$2,935$1,868$1,160$708$72
38 years$4,312$2,789$1,749$1,070$642$61
39 years$4,155$2,652$1,639$986$582$51
40 years$4,006$2,524$1,536$910$528$43
41 years$3,865$2,402$1,440$839$479$36
42 years$3,730$2,288$1,351$775$435$31
43 years$3,603$2,180$1,268$715$394$26
44 years$3,481$2,078$1,190$660$358$22
45 years$3,366$1,981$1,117$610$325$18
46 years$3,255$1,890$1,049$563$295$15
47 years$3,150$1,804$986$520$268$13
48 years$3,049$1,722$926$481$243$11
49 years$2,953$1,644$871$444$221$9
50 years$2,861$1,571$819$411$201$8

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 $3,072 every year, while hoping to spend $57,091 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$2,930,000$2,930,000$2,930,000$2,930,000
59$3,232,029$3,076,739$3,031,324$3,358,741
60$3,500,951$3,166,755$3,072,129$3,538,042
61$3,795,391$3,259,268$3,112,387$3,726,475
62$4,117,889$3,354,340$3,152,021$3,929,638
63$4,471,246$3,452,036$3,190,946$4,148,924
64$4,858,546$3,552,418$3,229,075$4,385,869
65$5,283,184$3,655,553$3,266,315$4,642,162
66$5,748,900$3,761,507$3,302,569$4,919,661
67$6,259,815$3,870,348$3,337,732$5,220,414
68$6,820,466$3,982,144$3,371,696$5,546,673
69$7,435,851$4,096,967$3,404,345$5,900,919
70$8,111,476$4,214,886$3,435,559$6,285,884
71$8,853,405$4,335,974$3,465,209$6,704,575
72$9,668,320$4,460,305$3,493,161$7,160,304
73$10,563,580$4,587,951$3,519,273$7,656,720
74$11,547,292$4,718,988$3,543,396$8,197,839
75$12,628,390$4,853,492$3,565,373$8,788,087
76$13,816,713$4,991,540$3,585,040$9,432,339
77$15,123,101$5,133,209$3,602,223$10,135,962
78$16,559,500$5,278,579$3,616,739$10,904,871
79$18,139,067$5,427,727$3,628,398$11,745,581
80$19,876,300$5,580,734$3,636,998$12,665,270
81$21,787,174$5,737,681$3,642,329$13,671,845
82$23,889,286$5,898,648$3,644,168$14,774,018
83$26,202,029$6,063,717$3,642,282$15,981,386
84$28,746,766$6,232,970$3,636,429$17,304,525
85$31,547,039$6,406,488$3,626,352$18,755,085
86$34,628,784$6,584,353$3,611,782$20,345,904
87$38,020,582$6,766,649$3,592,439$22,091,127
88$41,753,923$6,953,456$3,568,027$24,006,340
89$45,863,504$7,144,856$3,538,237$26,108,715
90$50,387,560$7,340,932$3,502,746$28,417,175
91$55,368,217$7,541,764$3,461,214$30,952,572
92$60,851,897$7,747,432$3,413,287$33,737,882
93$66,889,750$7,958,016$3,358,591$36,798,424
94$73,538,139$8,173,593$3,296,739$40,162,096
95$80,859,171$8,394,242$3,227,322$43,859,641
96$88,921,284$8,620,036$3,149,914$47,924,938
97$97,799,887$8,851,051$3,064,069$52,395,318
98$107,578,080$9,087,357$2,969,320$57,311,920
99$118,347,431$9,329,024$2,865,178$62,720,077
100$130,208,842$9,576,119$2,751,135$68,669,746