Can I retire at age 59 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$244,434$242,257$240,132$238,059$236,035$232,411
2 years$121,007$118,753$116,569$114,451$112,397$108,756
3 years$79,870$77,607$75,428$73,330$71,310$67,763
4 years$59,306$57,049$54,892$52,830$50,859$47,434
5 years$46,970$44,727$42,599$40,579$38,662$35,370
6 years$38,749$36,523$34,426$32,451$30,592$27,436
7 years$32,879$30,672$28,608$26,680$24,879$21,860
8 years$28,479$26,292$24,262$22,381$20,640$17,757
9 years$25,058$22,892$20,897$19,064$17,382$14,634
10 years$22,323$20,178$18,218$16,433$14,810$12,196
11 years$20,087$17,963$16,039$14,302$12,737$10,253
12 years$18,225$16,123$14,234$12,545$11,038$8,681
13 years$16,650$14,570$12,717$11,075$9,625$7,392
14 years$15,302$13,244$11,427$9,831$8,437$6,324
15 years$14,135$12,099$10,317$8,768$7,429$5,432
16 years$13,114$11,100$9,354$7,850$6,566$4,682
17 years$12,214$10,223$8,511$7,054$5,822$4,046
18 years$11,416$9,446$7,770$6,357$5,176$3,505
19 years$10,702$8,755$7,113$5,744$4,614$3,042
20 years$10,060$8,135$6,528$5,202$4,121$2,645
21 years$9,480$7,578$6,004$4,721$3,688$2,303
22 years$8,954$7,074$5,534$4,293$3,306$2,008
23 years$8,474$6,616$5,110$3,909$2,967$1,753
24 years$8,035$6,199$4,726$3,566$2,667$1,532
25 years$7,631$5,817$4,377$3,256$2,400$1,339
26 years$7,260$5,467$4,059$2,977$2,162$1,172
27 years$6,916$5,145$3,769$2,725$1,949$1,026
28 years$6,597$4,848$3,504$2,497$1,759$899
29 years$6,301$4,574$3,261$2,290$1,588$788
30 years$6,025$4,319$3,037$2,101$1,435$691
31 years$5,768$4,083$2,832$1,930$1,297$606
32 years$5,527$3,864$2,642$1,774$1,173$532
33 years$5,301$3,659$2,467$1,631$1,062$467
34 years$5,089$3,468$2,305$1,501$962$410
35 years$4,889$3,289$2,155$1,382$871$360
36 years$4,701$3,122$2,016$1,272$789$316
37 years$4,524$2,965$1,887$1,172$715$278
38 years$4,356$2,818$1,767$1,081$648$244
39 years$4,197$2,680$1,655$996$588$214
40 years$4,047$2,549$1,552$919$533$188
41 years$3,904$2,427$1,455$848$484$166
42 years$3,769$2,311$1,365$782$439$146
43 years$3,640$2,202$1,281$722$398$128
44 years$3,517$2,099$1,202$667$362$112
45 years$3,400$2,002$1,129$616$328$99
46 years$3,288$1,909$1,060$569$298$87
47 years$3,182$1,822$996$526$271$76
48 years$3,080$1,740$936$486$246$67
49 years$2,983$1,661$880$449$223$59
50 years$2,890$1,587$827$415$203$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,960,000, adding $4,999 every year, while hoping to spend $39,107 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: 76/15/9 Blend
58$2,960,000$2,960,000$2,960,000$2,960,000
59$3,267,076$3,110,196$3,064,316$3,510,206
60$3,558,709$3,220,987$3,125,362$3,781,674
61$3,878,777$3,335,895$3,187,141$4,073,680
62$4,230,140$3,455,081$3,249,638$4,392,640
63$4,615,947$3,578,713$3,312,834$4,741,215
64$5,039,669$3,706,965$3,376,709$5,122,339
65$5,505,126$3,840,017$3,441,239$5,539,237
66$6,016,529$3,978,058$3,506,401$5,995,463
67$6,578,516$4,121,285$3,572,167$6,494,932
68$7,196,198$4,269,901$3,638,508$7,041,951
69$7,875,203$4,424,119$3,705,391$7,641,267
70$8,621,735$4,584,162$3,772,782$8,298,105
71$9,442,625$4,750,259$3,840,643$9,018,221
72$10,345,402$4,922,651$3,908,935$9,807,955
73$11,338,361$5,101,589$3,977,612$10,674,289
74$12,430,640$5,287,333$4,046,628$11,624,914
75$13,632,309$5,480,155$4,115,933$12,668,300
76$14,954,460$5,680,339$4,185,473$13,813,779
77$16,409,318$5,888,179$4,255,190$15,071,629
78$18,010,351$6,103,982$4,325,021$16,453,173
79$19,772,399$6,328,069$4,394,901$17,970,885
80$21,711,812$6,560,773$4,464,759$19,638,504
81$23,846,609$6,802,443$4,534,521$21,471,169
82$26,196,641$7,053,441$4,604,105$23,485,556
83$28,783,784$7,314,144$4,673,427$25,700,037
84$31,632,140$7,584,948$4,742,397$28,134,853
85$34,768,269$7,866,261$4,810,918$30,812,304
86$38,221,437$8,158,513$4,878,889$33,756,960
87$42,023,893$8,462,149$4,946,201$36,995,889
88$46,211,171$8,777,635$5,012,740$40,558,915
89$50,822,428$9,105,457$5,078,384$44,478,899
90$55,900,812$9,446,120$5,143,006$48,792,044
91$61,493,867$9,800,153$5,206,469$53,538,241
92$67,653,985$10,168,104$5,268,630$58,761,444
93$74,438,900$10,550,550$5,329,338$64,510,081
94$81,912,229$10,948,087$5,388,431$70,837,513
95$90,144,075$11,361,342$5,445,742$77,802,536
96$99,211,688$11,790,966$5,501,092$85,469,934
97$109,200,195$12,237,637$5,554,293$93,911,092
98$120,203,400$12,702,067$5,605,147$103,204,668
99$132,324,673$13,184,994$5,653,446$113,437,332
100$145,677,922$13,687,192$5,698,969$124,704,586