Can I retire at age 59 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$246,911$244,712$242,566$240,472$238,427$237,123
2 years$122,233$119,957$117,751$115,611$113,537$112,221
3 years$80,679$78,393$76,192$74,073$72,032$70,746
4 years$59,907$57,627$55,449$53,366$51,374$50,126
5 years$47,446$45,180$43,030$40,990$39,054$37,848
6 years$39,142$36,893$34,775$32,780$30,902$29,741
7 years$33,213$30,983$28,898$26,950$25,131$24,015
8 years$28,768$26,558$24,508$22,608$20,849$19,777
9 years$25,312$23,124$21,109$19,257$17,558$16,531
10 years$22,550$20,382$18,403$16,600$14,960$13,977
11 years$20,291$18,145$16,202$14,447$12,866$11,926
12 years$18,410$16,286$14,379$12,672$11,150$10,252
13 years$16,819$14,718$12,846$11,187$9,723$8,867
14 years$15,457$13,378$11,542$9,931$8,523$7,708
15 years$14,278$12,221$10,421$8,856$7,504$6,729
16 years$13,247$11,213$9,448$7,930$6,632$5,895
17 years$12,338$10,326$8,598$7,125$5,881$5,181
18 years$11,531$9,542$7,849$6,421$5,229$4,565
19 years$10,810$8,844$7,185$5,802$4,660$4,032
20 years$10,162$8,218$6,594$5,255$4,163$3,568
21 years$9,576$7,655$6,065$4,769$3,725$3,163
22 years$9,045$7,145$5,590$4,336$3,339$2,808
23 years$8,560$6,683$5,161$3,949$2,997$2,497
24 years$8,116$6,261$4,773$3,602$2,694$2,222
25 years$7,709$5,876$4,421$3,289$2,424$1,980
26 years$7,333$5,523$4,100$3,008$2,184$1,766
27 years$6,986$5,197$3,808$2,753$1,969$1,576
28 years$6,664$4,897$3,540$2,522$1,777$1,407
29 years$6,365$4,620$3,294$2,313$1,604$1,258
30 years$6,086$4,363$3,068$2,123$1,449$1,125
31 years$5,826$4,125$2,860$1,950$1,310$1,006
32 years$5,583$3,903$2,669$1,792$1,185$901
33 years$5,355$3,696$2,492$1,648$1,073$806
34 years$5,140$3,503$2,328$1,516$971$722
35 years$4,939$3,323$2,177$1,396$880$647
36 years$4,749$3,154$2,036$1,285$797$580
37 years$4,570$2,995$1,906$1,184$722$520
38 years$4,400$2,846$1,785$1,091$655$466
39 years$4,240$2,707$1,672$1,006$594$418
40 years$4,088$2,575$1,567$928$539$375
41 years$3,944$2,451$1,470$856$489$337
42 years$3,807$2,335$1,379$790$443$302
43 years$3,676$2,224$1,294$730$402$271
44 years$3,553$2,120$1,214$674$365$243
45 years$3,434$2,022$1,140$622$332$218
46 years$3,322$1,929$1,071$575$301$196
47 years$3,214$1,841$1,006$531$273$176
48 years$3,112$1,757$945$491$248$158
49 years$3,013$1,678$889$453$226$142
50 years$2,919$1,603$835$419$205$127

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,990,000, adding $6,474 every year, while hoping to spend $47,105 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: 43/41/16 Blend
58$2,990,000$2,990,000$2,990,000$2,990,000
59$3,301,658$3,143,188$3,096,843$3,428,008
60$3,588,308$3,247,085$3,150,468$3,621,329
61$3,902,617$3,354,494$3,204,310$3,825,476
62$4,247,357$3,465,537$3,258,328$4,045,639
63$4,625,581$3,580,342$3,312,476$4,283,311
64$5,040,652$3,699,040$3,366,705$4,540,134
65$5,496,272$3,821,767$3,420,963$4,817,914
66$5,996,521$3,948,663$3,475,195$5,118,635
67$6,545,895$4,079,876$3,529,343$5,444,480
68$7,149,343$4,215,557$3,583,342$5,797,850
69$7,812,320$4,355,863$3,637,128$6,181,386
70$8,540,833$4,500,956$3,690,628$6,597,994
71$9,341,501$4,651,007$3,743,768$7,050,871
72$10,221,617$4,806,189$3,796,467$7,543,533
73$11,189,214$4,966,685$3,848,641$8,079,853
74$12,253,144$5,132,682$3,900,200$8,664,089
75$13,423,157$5,304,376$3,951,049$9,300,933
76$14,709,998$5,481,969$4,001,088$9,995,545
77$16,125,503$5,665,671$4,050,210$10,753,607
78$17,682,715$5,855,699$4,098,302$11,581,375
79$19,396,003$6,052,280$4,145,247$12,485,735
80$21,281,201$6,255,647$4,190,918$13,474,270
81$23,355,753$6,466,044$4,235,184$14,555,331
82$25,638,882$6,683,721$4,277,904$15,738,109
83$28,151,766$6,908,942$4,318,932$17,032,731
84$30,917,743$7,141,977$4,358,113$18,450,344
85$33,962,525$7,383,107$4,395,283$20,003,229
86$37,314,448$7,632,624$4,430,270$21,704,909
87$41,004,731$7,890,832$4,462,893$23,570,279
88$45,067,775$8,158,044$4,492,961$25,615,743
89$49,541,487$8,434,587$4,520,275$27,859,373
90$54,467,637$8,720,801$4,544,623$30,321,071
91$59,892,252$9,017,035$4,565,783$33,022,763
92$65,866,048$9,323,656$4,583,523$35,988,600
93$72,444,912$9,641,042$4,597,598$39,245,187
94$79,690,426$9,969,587$4,607,751$42,821,834
95$87,670,452$10,309,699$4,613,713$46,750,827
96$96,459,765$10,661,801$4,615,199$51,067,737
97$106,140,766$11,026,335$4,611,914$55,811,750
98$116,804,256$11,403,757$4,603,545$61,026,037
99$128,550,292$11,794,543$4,589,765$66,758,164
100$141,489,131$12,199,185$4,570,232$73,060,531