Can I retire at age 59 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$594,569$589,273$584,106$579,063$574,138$553,767
2 years$294,341$288,859$283,547$278,396$273,399$253,093
3 years$194,278$188,773$183,473$178,371$173,456$153,852
4 years$144,257$138,768$133,522$128,506$123,710$104,959
5 years$114,251$108,796$103,618$98,705$94,042$76,193
6 years$94,255$88,840$83,739$78,935$74,413$57,479
7 years$79,977$74,608$69,587$64,897$60,517$44,495
8 years$69,273$63,953$59,016$54,440$50,205$35,081
9 years$60,953$55,682$50,830$46,371$42,280$28,035
10 years$54,300$49,081$44,315$39,972$36,025$22,634
11 years$48,860$43,694$39,014$34,788$30,982$18,418
12 years$44,331$39,217$34,624$30,514$26,849$15,081
13 years$40,501$35,441$30,934$26,939$23,413$12,410
14 years$37,221$32,215$27,795$23,913$20,523$10,253
15 years$34,381$29,429$25,095$21,327$18,070$8,498
16 years$31,899$27,000$22,752$19,096$15,971$7,062
17 years$29,711$24,866$20,704$17,157$14,161$5,881
18 years$27,768$22,978$18,900$15,462$12,591$4,907
19 years$26,031$21,296$17,302$13,971$11,223$4,100
20 years$24,471$19,789$15,879$12,654$10,024$3,430
21 years$23,060$18,433$14,605$11,484$8,971$2,872
22 years$21,780$17,206$13,461$10,442$8,041$2,407
23 years$20,613$16,092$12,429$9,509$7,218$2,019
24 years$19,544$15,078$11,495$8,673$6,488$1,694
25 years$18,563$14,150$10,646$7,921$5,838$1,422
26 years$17,658$13,298$9,874$7,242$5,259$1,195
27 years$16,822$12,515$9,169$6,629$4,741$1,004
28 years$16,047$11,793$8,524$6,074$4,278$844
29 years$15,327$11,125$7,932$5,570$3,863$709
30 years$14,656$10,507$7,388$5,112$3,490$596
31 years$14,030$9,932$6,888$4,695$3,156$501
32 years$13,444$9,398$6,427$4,314$2,854$422
33 years$12,894$8,900$6,000$3,968$2,583$355
34 years$12,378$8,435$5,606$3,650$2,339$299
35 years$11,893$8,001$5,242$3,360$2,118$251
36 years$11,435$7,594$4,903$3,095$1,919$211
37 years$11,004$7,212$4,590$2,852$1,740$178
38 years$10,596$6,854$4,298$2,628$1,577$150
39 years$10,209$6,518$4,027$2,423$1,430$126
40 years$9,844$6,201$3,774$2,235$1,297$106
41 years$9,496$5,903$3,539$2,062$1,177$89
42 years$9,167$5,622$3,320$1,903$1,068$75
43 years$8,853$5,356$3,115$1,757$969$63
44 years$8,555$5,106$2,924$1,622$880$53
45 years$8,270$4,869$2,746$1,498$799$45
46 years$7,999$4,645$2,579$1,384$725$38
47 years$7,740$4,432$2,423$1,279$658$32
48 years$7,493$4,231$2,277$1,181$598$27
49 years$7,256$4,041$2,140$1,092$543$22
50 years$7,030$3,860$2,012$1,009$493$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,200,000, adding $4,675 every year, while hoping to spend $38,042 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: 72/20/8 Blend
58$7,200,000$7,200,000$7,200,000$7,200,000
59$7,939,222$7,557,622$7,446,022$8,500,108
60$8,708,547$7,887,469$7,654,988$9,200,892
61$9,555,067$8,232,204$7,869,678$9,962,741
62$10,486,617$8,592,515$8,090,246$10,795,813
63$11,511,829$8,969,125$8,316,846$11,707,122
64$12,640,213$9,362,790$8,549,638$12,704,385
65$13,882,249$9,774,301$8,788,785$13,796,098
66$15,249,483$10,204,487$9,034,454$14,991,609
67$16,754,640$10,654,216$9,286,818$16,301,211
68$18,411,739$11,124,398$9,546,052$17,736,233
69$20,236,227$11,615,985$9,812,336$19,309,147
70$22,245,128$12,129,974$10,085,855$21,033,684
71$24,457,198$12,667,410$10,366,798$22,924,961
72$26,893,106$13,229,386$10,655,359$24,999,622
73$29,575,627$13,817,050$10,951,738$27,275,997
74$32,529,857$14,431,601$11,256,137$29,774,265
75$35,783,449$15,074,297$11,568,765$32,516,651
76$39,366,878$15,746,455$11,889,835$35,527,626
77$43,313,723$16,449,454$12,219,568$38,834,142
78$47,660,986$17,184,740$12,558,186$42,465,879
79$52,449,441$17,953,827$12,905,920$46,455,528
80$57,724,020$18,758,301$13,263,004$50,839,090
81$63,534,235$19,599,823$13,629,680$55,656,219
82$69,934,647$20,480,134$14,006,194$60,950,591
83$76,985,378$21,401,058$14,392,799$66,770,314
84$84,752,682$22,364,505$14,789,753$73,168,379
85$93,309,567$23,372,477$15,197,322$80,203,155
86$102,736,486$24,427,071$15,615,775$87,938,938
87$113,122,095$25,530,485$16,045,390$96,446,558
88$124,564,090$26,685,020$16,486,452$105,804,036
89$137,170,130$27,893,089$16,939,252$116,097,324
90$151,058,852$29,157,220$17,404,086$127,421,108
91$166,360,991$30,480,060$17,881,259$139,879,700
92$183,220,614$31,864,384$18,371,082$153,588,015
93$201,796,478$33,313,100$18,873,875$168,672,656
94$222,263,532$34,829,256$19,389,963$185,273,100
95$244,814,566$36,416,043$19,919,681$203,543,011
96$269,662,030$38,076,807$20,463,368$223,651,688
97$297,040,042$39,815,055$21,021,376$245,785,653
98$327,206,593$41,634,461$21,594,059$270,150,407
99$360,445,990$43,538,874$22,181,785$296,972,369
100$397,071,532$45,532,329$22,784,925$326,501,001