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%17.1%
1 years$244,434$242,257$240,132$238,059$236,035$229,214
2 years$121,007$118,753$116,569$114,451$112,397$105,580
3 years$79,870$77,607$75,428$73,330$71,310$64,709
4 years$59,306$57,049$54,892$52,830$50,859$44,525
5 years$46,970$44,727$42,599$40,579$38,662$32,613
6 years$38,749$36,523$34,426$32,451$30,592$24,833
7 years$32,879$30,672$28,608$26,680$24,879$19,411
8 years$28,479$26,292$24,262$22,381$20,640$15,458
9 years$25,058$22,892$20,897$19,064$17,382$12,482
10 years$22,323$20,178$18,218$16,433$14,810$10,186
11 years$20,087$17,963$16,039$14,302$12,737$8,380
12 years$18,225$16,123$14,234$12,545$11,038$6,940
13 years$16,650$14,570$12,717$11,075$9,625$5,777
14 years$15,302$13,244$11,427$9,831$8,437$4,830
15 years$14,135$12,099$10,317$8,768$7,429$4,051
16 years$13,114$11,100$9,354$7,850$6,566$3,408
17 years$12,214$10,223$8,511$7,054$5,822$2,874
18 years$11,416$9,446$7,770$6,357$5,176$2,428
19 years$10,702$8,755$7,113$5,744$4,614$2,055
20 years$10,060$8,135$6,528$5,202$4,121$1,742
21 years$9,480$7,578$6,004$4,721$3,688$1,478
22 years$8,954$7,074$5,534$4,293$3,306$1,255
23 years$8,474$6,616$5,110$3,909$2,967$1,067
24 years$8,035$6,199$4,726$3,566$2,667$907
25 years$7,631$5,817$4,377$3,256$2,400$772
26 years$7,260$5,467$4,059$2,977$2,162$658
27 years$6,916$5,145$3,769$2,725$1,949$560
28 years$6,597$4,848$3,504$2,497$1,759$477
29 years$6,301$4,574$3,261$2,290$1,588$407
30 years$6,025$4,319$3,037$2,101$1,435$347
31 years$5,768$4,083$2,832$1,930$1,297$296
32 years$5,527$3,864$2,642$1,774$1,173$252
33 years$5,301$3,659$2,467$1,631$1,062$215
34 years$5,089$3,468$2,305$1,501$962$184
35 years$4,889$3,289$2,155$1,382$871$157
36 years$4,701$3,122$2,016$1,272$789$134
37 years$4,524$2,965$1,887$1,172$715$114
38 years$4,356$2,818$1,767$1,081$648$98
39 years$4,197$2,680$1,655$996$588$83
40 years$4,047$2,549$1,552$919$533$71
41 years$3,904$2,427$1,455$848$484$61
42 years$3,769$2,311$1,365$782$439$52
43 years$3,640$2,202$1,281$722$398$44
44 years$3,517$2,099$1,202$667$362$38
45 years$3,400$2,002$1,129$616$328$32
46 years$3,288$1,909$1,060$569$298$28
47 years$3,182$1,822$996$526$271$24
48 years$3,080$1,740$936$486$246$20
49 years$2,983$1,661$880$449$223$17
50 years$2,890$1,587$827$415$203$15

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 $6,077 every year, while hoping to spend $52,621 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: 80/9/11 Blend
58$2,960,000$2,960,000$2,960,000$2,960,000
59$3,268,188$3,111,308$3,065,428$3,522,905
60$3,545,555$3,207,774$3,112,132$3,787,432
61$3,849,450$3,307,203$3,158,636$4,070,178
62$4,182,523$3,409,685$3,204,880$4,378,910
63$4,547,692$3,515,312$3,250,795$4,716,204
64$4,948,174$3,624,179$3,296,314$5,084,895
65$5,387,508$3,736,384$3,341,360$5,488,106
66$5,869,594$3,852,027$3,385,857$5,929,274
67$6,398,729$3,971,213$3,429,719$6,412,189
68$6,979,645$4,094,048$3,472,860$6,941,022
69$7,617,553$4,220,641$3,515,186$7,520,368
70$8,318,197$4,351,106$3,556,598$8,155,290
71$9,087,902$4,485,558$3,596,992$8,851,363
72$9,933,635$4,624,118$3,636,259$9,614,730
73$10,863,075$4,766,909$3,674,283$10,452,157
74$11,884,678$4,914,057$3,710,941$11,371,099
75$13,007,762$5,065,693$3,746,104$12,379,768
76$14,242,593$5,221,951$3,779,638$13,487,211
77$15,600,479$5,382,968$3,811,397$14,703,396
78$17,093,882$5,548,887$3,841,233$16,039,304
79$18,736,530$5,719,855$3,868,986$17,507,034
80$20,543,548$5,896,020$3,894,490$19,119,918
81$22,531,603$6,077,538$3,917,568$20,892,642
82$24,719,057$6,264,568$3,938,037$22,841,390
83$27,126,142$6,457,273$3,955,702$24,983,990
84$29,775,150$6,655,821$3,970,360$27,340,090
85$32,690,645$6,860,386$3,981,797$29,931,337
86$35,899,691$7,071,145$3,989,787$32,781,581
87$39,432,109$7,288,280$3,994,095$35,917,105
88$43,320,760$7,511,982$3,994,472$39,366,867
89$47,601,850$7,742,441$3,990,660$43,162,777
90$52,315,276$7,979,858$3,982,384$47,339,996
91$57,504,999$8,224,436$3,969,359$51,937,267
92$63,219,462$8,476,386$3,951,285$56,997,283
93$69,512,042$8,735,924$3,927,848$62,567,087
94$76,441,557$9,003,271$3,898,718$68,698,516
95$84,072,820$9,278,656$3,863,549$75,448,693
96$92,477,250$9,562,312$3,821,981$82,880,561
97$101,733,546$9,854,482$3,773,633$91,063,482
98$111,928,427$10,155,411$3,718,110$100,073,886
99$123,157,455$10,465,355$3,654,995$109,995,998
100$135,525,933$10,784,575$3,583,854$120,922,628