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%17%
1 years$243,608$241,438$239,321$237,255$235,237$228,531
2 years$120,598$118,352$116,175$114,065$112,018$105,314
3 years$79,600$77,344$75,173$73,082$71,069$64,577
4 years$59,105$56,856$54,707$52,652$50,687$44,457
5 years$46,811$44,576$42,455$40,442$38,531$32,580
6 years$38,618$36,400$34,310$32,341$30,488$24,822
7 years$32,768$30,568$28,512$26,590$24,795$19,413
8 years$28,383$26,203$24,180$22,305$20,570$15,469
9 years$24,974$22,814$20,826$18,999$17,323$12,499
10 years$22,248$20,110$18,157$16,378$14,760$10,205
11 years$20,019$17,902$15,985$14,253$12,694$8,402
12 years$18,163$16,068$14,186$12,502$11,000$6,962
13 years$16,594$14,521$12,674$11,038$9,593$5,800
14 years$15,250$13,199$11,388$9,798$8,409$4,852
15 years$14,087$12,058$10,282$8,738$7,404$4,073
16 years$13,070$11,063$9,322$7,824$6,544$3,429
17 years$12,173$10,188$8,483$7,030$5,802$2,894
18 years$11,377$9,414$7,744$6,335$5,159$2,447
19 years$10,666$8,725$7,089$5,724$4,598$2,072
20 years$10,026$8,108$6,506$5,185$4,107$1,757
21 years$9,448$7,552$5,984$4,705$3,675$1,492
22 years$8,924$7,050$5,515$4,278$3,295$1,268
23 years$8,445$6,593$5,092$3,896$2,957$1,079
24 years$8,008$6,178$4,710$3,554$2,658$919
25 years$7,606$5,797$4,362$3,245$2,392$782
26 years$7,235$5,449$4,046$2,967$2,155$667
27 years$6,892$5,128$3,757$2,716$1,943$568
28 years$6,575$4,832$3,492$2,489$1,753$485
29 years$6,280$4,558$3,250$2,282$1,583$414
30 years$6,005$4,305$3,027$2,094$1,430$353
31 years$5,748$4,070$2,822$1,923$1,293$301
32 years$5,508$3,851$2,633$1,768$1,170$257
33 years$5,283$3,647$2,459$1,626$1,058$220
34 years$5,072$3,456$2,297$1,496$958$188
35 years$4,873$3,278$2,148$1,377$868$160
36 years$4,685$3,111$2,009$1,268$786$137
37 years$4,508$2,955$1,880$1,168$713$117
38 years$4,341$2,808$1,761$1,077$646$100
39 years$4,183$2,671$1,650$993$586$85
40 years$4,033$2,541$1,546$916$531$73
41 years$3,891$2,419$1,450$845$482$62
42 years$3,756$2,303$1,360$780$438$53
43 years$3,627$2,195$1,276$720$397$45
44 years$3,505$2,092$1,198$665$360$39
45 years$3,388$1,995$1,125$614$327$33
46 years$3,277$1,903$1,057$567$297$28
47 years$3,171$1,816$993$524$270$24
48 years$3,070$1,734$933$484$245$21
49 years$2,973$1,656$877$447$223$18
50 years$2,880$1,581$824$414$202$15

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 $4,397 every year, while hoping to spend $20,107 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: 44/50/6 Blend
58$2,950,000$2,950,000$2,950,000$2,950,000
59$3,255,436$3,099,086$3,053,361$3,392,981
60$3,566,096$3,229,547$3,134,254$3,618,909
61$3,907,770$3,365,727$3,217,184$3,861,197
62$4,283,600$3,507,885$3,302,197$4,123,312
63$4,697,048$3,656,292$3,389,341$4,407,079
64$5,151,927$3,811,231$3,478,665$4,714,498
65$5,652,442$3,972,999$3,570,218$5,047,766
66$6,203,221$4,141,906$3,664,051$5,409,295
67$6,809,369$4,318,279$3,760,216$5,801,733
68$7,476,507$4,502,456$3,858,765$6,227,986
69$8,210,828$4,694,795$3,959,751$6,691,249
70$9,019,160$4,895,667$4,063,230$7,195,031
71$9,909,023$5,105,463$4,169,257$7,743,186
72$10,888,703$5,324,591$4,277,887$8,339,950
73$11,967,334$5,553,478$4,389,179$8,989,979
74$13,154,976$5,792,573$4,503,190$9,698,390
75$14,462,717$6,042,343$4,619,981$10,470,808
76$15,902,775$6,303,278$4,739,611$11,313,419
77$17,488,612$6,575,893$4,862,142$12,233,023
78$19,235,062$6,860,724$4,987,636$13,237,099
79$21,158,473$7,158,333$5,116,156$14,333,872
80$23,276,856$7,469,311$5,247,766$15,532,390
81$25,610,062$7,794,274$5,382,533$16,842,604
82$28,179,962$8,133,867$5,520,522$18,275,463
83$31,010,659$8,488,767$5,661,800$19,843,012
84$34,128,711$8,859,682$5,806,435$21,558,505
85$37,563,387$9,247,353$5,954,498$23,436,526
86$41,346,935$9,652,557$6,106,057$25,493,125
87$45,514,897$10,076,106$6,261,184$27,745,965
88$50,106,434$10,518,852$6,419,950$30,214,486
89$55,164,701$10,981,687$6,582,430$32,920,086
90$60,737,255$11,465,545$6,748,696$35,886,318
91$66,876,501$11,971,402$6,918,823$39,139,109
92$73,640,187$12,500,284$7,092,887$42,707,004
93$81,091,952$13,053,264$7,270,964$46,621,425
94$89,301,921$13,631,463$7,453,131$50,916,971
95$98,347,372$14,236,061$7,639,467$55,631,733
96$108,313,464$14,868,288$7,830,049$60,807,655
97$119,294,040$15,529,436$8,024,958$66,490,922
98$131,392,511$16,220,857$8,224,273$72,732,390
99$144,722,836$16,943,968$8,428,075$79,588,064
100$159,410,595$17,700,252$8,636,445$87,119,619