Can I retire at age 59 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$247,737$245,530$243,378$241,276$239,224$236,235
2 years$122,642$120,358$118,144$115,998$113,916$110,908
3 years$80,949$78,655$76,447$74,321$72,273$69,340
4 years$60,107$57,820$55,634$53,544$51,546$48,710
5 years$47,605$45,332$43,174$41,127$39,184$36,454
6 years$39,273$37,017$34,891$32,890$31,005$28,384
7 years$33,324$31,087$28,995$27,040$25,216$22,705
8 years$28,864$26,647$24,590$22,684$20,919$18,518
9 years$25,397$23,201$21,179$19,321$17,617$15,324
10 years$22,625$20,450$18,465$16,655$15,010$12,825
11 years$20,359$18,206$16,256$14,495$12,909$10,829
12 years$18,471$16,341$14,427$12,714$11,187$9,210
13 years$16,875$14,767$12,889$11,225$9,755$7,879
14 years$15,509$13,423$11,581$9,964$8,551$6,772
15 years$14,326$12,262$10,456$8,886$7,529$5,845
16 years$13,291$11,250$9,480$7,957$6,654$5,062
17 years$12,379$10,361$8,626$7,149$5,900$4,396
18 years$11,570$9,574$7,875$6,443$5,246$3,827
19 years$10,846$8,873$7,209$5,821$4,676$3,339
20 years$10,196$8,245$6,616$5,272$4,177$2,918
21 years$9,608$7,680$6,086$4,785$3,738$2,555
22 years$9,075$7,169$5,609$4,351$3,350$2,239
23 years$8,589$6,705$5,179$3,962$3,007$1,965
24 years$8,143$6,282$4,789$3,614$2,703$1,726
25 years$7,734$5,896$4,436$3,300$2,432$1,518
26 years$7,358$5,541$4,114$3,018$2,191$1,336
27 years$7,009$5,215$3,820$2,762$1,975$1,176
28 years$6,686$4,914$3,551$2,531$1,782$1,036
29 years$6,386$4,636$3,305$2,321$1,610$914
30 years$6,107$4,378$3,078$2,130$1,454$806
31 years$5,846$4,139$2,870$1,956$1,315$711
32 years$5,601$3,916$2,678$1,798$1,189$627
33 years$5,373$3,708$2,500$1,653$1,076$554
34 years$5,158$3,515$2,336$1,521$975$489
35 years$4,955$3,334$2,184$1,400$883$432
36 years$4,765$3,164$2,043$1,290$800$382
37 years$4,585$3,005$1,912$1,188$725$337
38 years$4,415$2,856$1,791$1,095$657$298
39 years$4,254$2,716$1,678$1,010$596$264
40 years$4,101$2,584$1,573$931$541$233
41 years$3,957$2,460$1,475$859$490$206
42 years$3,819$2,342$1,383$793$445$182
43 years$3,689$2,232$1,298$732$404$161
44 years$3,564$2,127$1,218$676$367$143
45 years$3,446$2,029$1,144$624$333$126
46 years$3,333$1,935$1,074$577$302$111
47 years$3,225$1,847$1,009$533$274$99
48 years$3,122$1,763$949$492$249$87
49 years$3,023$1,684$892$455$226$77
50 years$2,929$1,608$838$421$206$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $3,000,000, adding $4,071 every year, while hoping to spend $32,501 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: 44/28/28 Blend
58$3,000,000$3,000,000$3,000,000$3,000,000
59$3,310,199$3,151,199$3,104,699$3,428,772
60$3,613,259$3,271,027$3,174,126$3,633,642
61$3,946,141$3,395,637$3,244,789$3,852,173
62$4,311,854$3,525,230$3,316,696$4,088,449
63$4,713,710$3,660,013$3,389,852$4,344,138
64$5,155,360$3,800,206$3,464,264$4,621,078
65$5,640,826$3,946,035$3,539,936$4,921,284
66$6,174,536$4,097,737$3,616,870$5,246,978
67$6,761,374$4,255,560$3,695,070$5,600,598
68$7,406,715$4,419,764$3,774,536$5,984,829
69$8,116,485$4,590,618$3,855,268$6,402,622
70$8,897,211$4,768,403$3,937,264$6,857,226
71$9,756,086$4,953,414$4,020,522$7,352,213
72$10,701,035$5,145,959$4,105,037$7,891,515
73$11,740,787$5,346,358$4,190,803$8,479,458
74$12,884,964$5,554,946$4,277,811$9,120,802
75$14,144,166$5,772,074$4,366,053$9,820,789
76$15,530,072$5,998,106$4,455,517$10,585,184
77$17,055,551$6,233,425$4,546,188$11,420,336
78$18,734,783$6,478,429$4,638,052$12,333,233
79$20,583,393$6,733,534$4,731,089$13,331,569
80$22,618,598$6,999,176$4,825,279$14,423,814
81$24,859,368$7,275,809$4,920,599$15,619,293
82$27,326,607$7,563,907$5,017,023$16,928,273
83$30,043,350$7,863,968$5,114,522$18,362,062
84$33,034,977$8,176,508$5,213,064$19,933,109
85$36,329,458$8,502,070$5,312,614$21,655,124
86$39,957,610$8,841,219$5,413,135$23,543,207
87$43,953,394$9,194,546$5,514,582$25,613,985
88$48,354,232$9,562,670$5,616,912$27,885,771
89$53,201,359$9,946,236$5,720,074$30,378,737
90$58,540,215$10,345,919$5,824,014$33,115,097
91$64,420,872$10,762,425$5,928,674$36,119,320
92$70,898,508$11,196,491$6,033,991$39,418,360
93$78,033,924$11,648,887$6,139,898$43,041,905
94$85,894,121$12,120,419$6,246,321$47,022,659
95$94,552,931$12,611,929$6,353,183$51,396,645
96$104,091,714$13,124,298$6,460,399$56,203,549
97$114,600,127$13,658,446$6,567,880$61,487,087
98$126,176,965$14,215,336$6,675,530$67,295,420
99$138,931,102$14,795,974$6,783,246$73,681,602
100$152,982,509$15,401,411$6,890,920$80,704,084