Can I retire at age 59 with 6,200,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$511,990$507,430$502,980$498,637$494,397$484,811
2 years$253,460$248,740$244,165$239,729$235,427$225,809
3 years$167,295$162,554$157,991$153,597$149,365$140,013
4 years$124,221$119,495$114,977$110,658$106,528$97,516
5 years$98,383$93,685$89,227$84,996$80,981$72,334
6 years$81,164$76,501$72,109$67,972$64,077$55,804
7 years$68,869$64,245$59,923$55,883$52,112$44,215
8 years$59,652$55,070$50,819$46,879$43,232$35,709
9 years$52,487$47,949$43,770$39,931$36,408$29,254
10 years$46,758$42,264$38,160$34,421$31,021$24,230
11 years$42,074$37,625$33,596$29,956$26,679$20,243
12 years$38,174$33,771$29,815$26,276$23,120$17,029
13 years$34,876$30,519$26,638$23,198$20,161$14,405
14 years$32,052$27,741$23,934$20,592$17,673$12,242
15 years$29,606$25,342$21,609$18,365$15,561$10,443
16 years$27,468$23,250$19,592$16,443$13,752$8,937
17 years$25,584$21,413$17,828$14,774$12,194$7,668
18 years$23,911$19,786$16,275$13,315$10,842$6,595
19 years$22,416$18,338$14,899$12,031$9,664$5,682
20 years$21,072$17,040$13,673$10,896$8,632$4,904
21 years$19,857$15,872$12,577$9,889$7,725$4,238
22 years$18,755$14,816$11,591$8,991$6,924$3,667
23 years$17,750$13,857$10,703$8,189$6,215$3,176
24 years$16,830$12,984$9,898$7,469$5,587$2,753
25 years$15,985$12,184$9,168$6,821$5,027$2,388
26 years$15,206$11,451$8,503$6,237$4,528$2,073
27 years$14,486$10,777$7,895$5,708$4,083$1,801
28 years$13,818$10,155$7,340$5,230$3,684$1,565
29 years$13,198$9,580$6,830$4,796$3,326$1,361
30 years$12,621$9,048$6,362$4,402$3,006$1,183
31 years$12,081$8,553$5,931$4,043$2,717$1,030
32 years$11,576$8,093$5,534$3,715$2,458$896
33 years$11,103$7,664$5,167$3,416$2,224$780
34 years$10,659$7,264$4,828$3,143$2,014$679
35 years$10,241$6,890$4,514$2,894$1,824$591
36 years$9,847$6,539$4,222$2,665$1,653$515
37 years$9,475$6,211$3,952$2,455$1,498$449
38 years$9,124$5,902$3,701$2,263$1,358$391
39 years$8,791$5,613$3,467$2,087$1,232$340
40 years$8,476$5,340$3,250$1,925$1,117$297
41 years$8,177$5,083$3,047$1,776$1,013$258
42 years$7,894$4,841$2,859$1,639$920$225
43 years$7,624$4,612$2,682$1,513$835$196
44 years$7,366$4,397$2,518$1,397$758$171
45 years$7,122$4,193$2,364$1,290$688$149
46 years$6,888$4,000$2,221$1,192$624$130
47 years$6,665$3,817$2,086$1,101$567$113
48 years$6,452$3,644$1,960$1,017$515$99
49 years$6,248$3,480$1,843$940$468$86
50 years$6,053$3,324$1,732$869$425$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $6,200,000, adding $5,859 every year, while hoping to spend $35,692 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: 43/48/9 Blend
58$6,200,000$6,200,000$6,200,000$6,200,000
59$6,838,444$6,509,844$6,413,744$7,114,450
60$7,497,989$6,790,850$6,590,628$7,588,026
61$8,223,611$7,084,429$6,772,242$8,096,670
62$9,022,014$7,391,160$6,958,706$8,646,877
63$9,900,580$7,711,648$7,150,143$9,242,462
64$10,867,447$8,046,527$7,346,681$9,887,614
65$11,931,581$8,396,461$7,548,449$10,586,925
66$13,102,859$8,762,144$7,755,579$11,345,441
67$14,392,167$9,144,305$7,968,207$12,168,697
68$15,811,498$9,543,706$8,186,472$13,062,774
69$17,374,067$9,961,144$8,410,515$14,034,349
70$19,094,437$10,397,456$8,640,483$15,090,757
71$20,988,654$10,853,515$8,876,523$16,240,055
72$23,074,398$11,330,239$9,118,788$17,491,099
73$25,371,152$11,828,586$9,367,433$18,853,617
74$27,900,385$12,349,563$9,622,618$20,338,303
75$30,685,754$12,894,220$9,884,504$21,956,913
76$33,753,324$13,463,661$10,153,259$23,722,369
77$37,131,823$14,059,040$10,429,053$25,648,881
78$40,852,901$14,681,565$10,712,058$27,752,071
79$44,951,439$15,332,504$11,002,454$30,049,123
80$49,465,871$16,013,182$11,300,422$32,558,935
81$54,438,551$16,724,989$11,606,147$35,302,292
82$59,916,150$17,469,380$11,919,820$38,302,060
83$65,950,098$18,247,879$12,241,634$41,583,397
84$72,597,066$19,062,084$12,571,787$45,173,979
85$79,919,508$19,913,667$12,910,483$49,104,261
86$87,986,241$20,804,380$13,257,927$53,407,755
87$96,873,101$21,736,058$13,614,332$58,121,341
88$106,663,657$22,710,625$13,979,912$63,285,607
89$117,450,000$23,730,095$14,354,888$68,945,226
90$129,333,609$24,796,579$14,739,486$75,149,369
91$142,426,312$25,912,287$15,133,934$81,952,162
92$156,851,343$27,079,536$15,538,468$89,413,188
93$172,744,500$28,300,753$15,953,327$97,598,042
94$190,255,430$29,578,481$16,378,754$106,578,938
95$209,549,041$30,915,383$16,814,999$116,435,385
96$230,807,058$32,314,252$17,262,317$127,254,924
97$254,229,739$33,778,012$17,720,966$139,133,946
98$280,037,766$35,309,727$18,191,211$152,178,592
99$308,474,323$36,912,610$18,673,322$166,505,740
100$339,807,400$38,590,023$19,167,574$182,244,098