Can I retire at age 59 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$243,608$241,438$239,321$237,255$235,237$234,246
2 years$120,598$118,352$116,175$114,065$112,018$111,017
3 years$79,600$77,344$75,173$73,082$71,069$70,089
4 years$59,105$56,856$54,707$52,652$50,687$49,737
5 years$46,811$44,576$42,455$40,442$38,531$37,613
6 years$38,618$36,400$34,310$32,341$30,488$29,603
7 years$32,768$30,568$28,512$26,590$24,795$23,944
8 years$28,383$26,203$24,180$22,305$20,570$19,752
9 years$24,974$22,814$20,826$18,999$17,323$16,538
10 years$22,248$20,110$18,157$16,378$14,760$14,008
11 years$20,019$17,902$15,985$14,253$12,694$11,975
12 years$18,163$16,068$14,186$12,502$11,000$10,313
13 years$16,594$14,521$12,674$11,038$9,593$8,937
14 years$15,250$13,199$11,388$9,798$8,409$7,784
15 years$14,087$12,058$10,282$8,738$7,404$6,808
16 years$13,070$11,063$9,322$7,824$6,544$5,977
17 years$12,173$10,188$8,483$7,030$5,802$5,264
18 years$11,377$9,414$7,744$6,335$5,159$4,648
19 years$10,666$8,725$7,089$5,724$4,598$4,114
20 years$10,026$8,108$6,506$5,185$4,107$3,649
21 years$9,448$7,552$5,984$4,705$3,675$3,241
22 years$8,924$7,050$5,515$4,278$3,295$2,884
23 years$8,445$6,593$5,092$3,896$2,957$2,570
24 years$8,008$6,178$4,710$3,554$2,658$2,293
25 years$7,606$5,797$4,362$3,245$2,392$2,047
26 years$7,235$5,449$4,046$2,967$2,155$1,830
27 years$6,892$5,128$3,757$2,716$1,943$1,637
28 years$6,575$4,832$3,492$2,489$1,753$1,466
29 years$6,280$4,558$3,250$2,282$1,583$1,313
30 years$6,005$4,305$3,027$2,094$1,430$1,177
31 years$5,748$4,070$2,822$1,923$1,293$1,056
32 years$5,508$3,851$2,633$1,768$1,170$947
33 years$5,283$3,647$2,459$1,626$1,058$850
34 years$5,072$3,456$2,297$1,496$958$763
35 years$4,873$3,278$2,148$1,377$868$686
36 years$4,685$3,111$2,009$1,268$786$616
37 years$4,508$2,955$1,880$1,168$713$554
38 years$4,341$2,808$1,761$1,077$646$498
39 years$4,183$2,671$1,650$993$586$448
40 years$4,033$2,541$1,546$916$531$403
41 years$3,891$2,419$1,450$845$482$362
42 years$3,756$2,303$1,360$780$438$326
43 years$3,627$2,195$1,276$720$397$293
44 years$3,505$2,092$1,198$665$360$264
45 years$3,388$1,995$1,125$614$327$237
46 years$3,277$1,903$1,057$567$297$214
47 years$3,171$1,816$993$524$270$192
48 years$3,070$1,734$933$484$245$173
49 years$2,973$1,656$877$447$223$156
50 years$2,880$1,581$824$414$202$140

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,950,000, adding $5,794 every year, while hoping to spend $53,540 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: 33/48/19 Blend
58$2,950,000$2,950,000$2,950,000$2,950,000
59$3,256,877$3,100,527$3,054,802$3,345,049
60$3,532,112$3,195,486$3,100,171$3,505,864
61$3,833,627$3,293,304$3,145,266$3,673,735
62$4,164,045$3,394,065$3,190,021$3,853,536
63$4,526,257$3,497,853$3,234,366$4,046,347
64$4,923,445$3,604,758$3,278,227$4,253,355
65$5,359,114$3,714,869$3,321,526$4,475,865
66$5,837,127$3,828,281$3,364,180$4,715,313
67$6,361,735$3,945,088$3,406,102$4,973,276
68$6,937,624$4,065,389$3,447,198$5,251,490
69$7,569,954$4,189,286$3,487,371$5,551,862
70$8,264,410$4,316,881$3,526,518$5,876,492
71$9,027,253$4,448,281$3,564,530$6,227,690
72$9,865,381$4,583,596$3,601,291$6,607,996
73$10,786,396$4,722,937$3,636,680$7,020,208
74$11,798,668$4,866,421$3,670,568$7,467,404
75$12,911,423$5,014,166$3,702,822$7,952,970
76$14,134,820$5,166,293$3,733,300$8,480,636
77$15,480,057$5,322,926$3,761,850$9,054,506
78$16,959,468$5,484,195$3,788,317$9,679,101
79$18,586,643$5,650,229$3,812,535$10,359,396
80$20,376,555$5,821,165$3,834,329$11,100,870
81$22,345,701$5,997,140$3,853,517$11,909,556
82$24,512,258$6,178,295$3,869,905$12,792,099
83$26,896,254$6,364,777$3,883,293$13,755,815
84$29,519,756$6,556,735$3,893,467$14,808,762
85$32,407,077$6,754,321$3,900,204$15,959,817
86$35,585,009$6,957,693$3,903,271$17,218,755
87$39,083,071$7,167,011$3,902,422$18,596,345
88$42,933,789$7,382,440$3,897,398$20,104,447
89$47,173,004$7,604,148$3,887,930$21,756,127
90$51,840,209$7,832,309$3,873,733$23,565,779
91$56,978,918$8,067,100$3,854,511$25,549,258
92$62,637,082$8,308,703$3,829,952$27,724,034
93$68,867,538$8,557,303$3,799,729$30,109,350
94$75,728,507$8,813,091$3,763,500$32,726,407
95$83,284,144$9,076,261$3,720,906$35,598,565
96$91,605,143$9,347,014$3,671,573$38,751,559
97$100,769,403$9,625,554$3,615,106$42,213,744
98$110,862,765$9,912,088$3,551,095$46,016,362
99$121,979,818$10,206,832$3,479,107$50,193,833
100$134,224,796$10,510,003$3,398,694$54,784,086