Can I retire at age 59 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$602,827$597,458$592,219$587,105$582,112$575,315
2 years$298,429$292,871$287,485$282,262$277,196$270,355
3 years$196,977$191,395$186,022$180,848$175,865$169,191
4 years$146,260$140,695$135,376$130,291$125,428$118,974
5 years$115,838$110,307$105,057$100,076$95,349$89,133
6 years$95,564$90,074$84,902$80,031$75,446$69,476
7 years$81,087$75,644$70,554$65,798$61,358$55,636
8 years$70,235$64,841$59,835$55,197$50,902$45,428
9 years$61,799$56,456$51,536$47,015$42,867$37,638
10 years$55,054$49,763$44,930$40,528$36,525$31,538
11 years$49,539$44,301$39,556$35,271$31,413$26,664
12 years$44,947$39,762$35,105$30,938$27,221$22,705
13 years$41,064$35,933$31,364$27,313$23,738$19,448
14 years$37,738$32,662$28,181$24,246$20,808$16,740
15 years$34,859$29,838$25,443$21,623$18,321$14,467
16 years$32,342$27,376$23,068$19,361$16,192$12,546
17 years$30,123$25,212$20,991$17,396$14,357$10,911
18 years$28,153$23,297$19,162$15,677$12,766$9,513
19 years$26,393$21,591$17,542$14,165$11,378$8,312
20 years$24,810$20,064$16,099$12,830$10,163$7,275
21 years$23,381$18,689$14,808$11,644$9,095$6,378
22 years$22,082$17,445$13,648$10,587$8,153$5,599
23 years$20,899$16,316$12,602$9,642$7,318$4,922
24 years$19,816$15,287$11,654$8,794$6,578$4,330
25 years$18,821$14,346$10,794$8,031$5,919$3,813
26 years$17,904$13,483$10,011$7,343$5,332$3,361
27 years$17,056$12,689$9,296$6,721$4,807$2,964
28 years$16,270$11,957$8,642$6,158$4,337$2,616
29 years$15,540$11,280$8,042$5,647$3,916$2,310
30 years$14,860$10,653$7,491$5,183$3,539$2,040
31 years$14,225$10,070$6,984$4,760$3,199$1,803
32 years$13,630$9,529$6,516$4,374$2,894$1,594
33 years$13,073$9,024$6,084$4,023$2,619$1,410
34 years$12,550$8,552$5,684$3,701$2,371$1,247
35 years$12,058$8,112$5,314$3,407$2,148$1,103
36 years$11,594$7,699$4,972$3,138$1,946$977
37 years$11,156$7,313$4,653$2,891$1,764$864
38 years$10,743$6,950$4,358$2,665$1,599$765
39 years$10,351$6,608$4,083$2,457$1,450$678
40 years$9,980$6,287$3,827$2,266$1,315$600
41 years$9,628$5,985$3,588$2,091$1,193$532
42 years$9,294$5,700$3,366$1,930$1,083$471
43 years$8,976$5,431$3,158$1,781$983$417
44 years$8,673$5,177$2,965$1,645$892$370
45 years$8,385$4,936$2,784$1,519$810$327
46 years$8,110$4,709$2,615$1,403$735$290
47 years$7,848$4,494$2,456$1,296$668$257
48 years$7,597$4,290$2,308$1,198$606$228
49 years$7,357$4,097$2,170$1,107$551$202
50 years$7,127$3,913$2,040$1,023$500$179

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,300,000, adding $2,288 every year, while hoping to spend $26,974 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: 48/25/27 Blend
58$7,300,000$7,300,000$7,300,000$7,300,000
59$8,046,960$7,660,060$7,546,910$8,371,132
60$8,839,050$8,006,703$7,771,031$8,945,745
61$9,711,029$8,369,427$8,001,757$9,566,558
62$10,671,017$8,748,992$8,239,279$10,240,239
63$11,727,962$9,146,194$8,483,796$10,971,786
64$12,891,723$9,561,867$8,735,513$11,766,689
65$14,173,165$9,996,884$8,994,638$12,630,984
66$15,584,258$10,452,162$9,261,388$13,571,301
67$17,138,193$10,928,659$9,535,986$14,594,934
68$18,849,507$11,427,381$9,818,659$15,709,897
69$20,734,215$11,949,381$10,109,643$16,925,007
70$22,809,969$12,495,765$10,409,181$18,249,955
71$25,096,218$13,067,689$10,717,519$19,695,403
72$27,614,391$13,666,365$11,034,916$21,273,076
73$30,388,107$14,293,065$11,361,633$22,995,874
74$33,443,389$14,949,120$11,697,943$24,877,987
75$36,808,914$15,635,927$12,044,124$26,935,028
76$40,516,283$16,354,947$12,400,462$29,184,177
77$44,600,319$17,107,714$12,767,252$31,644,337
78$49,099,395$17,895,835$13,144,798$34,336,313
79$54,055,796$18,720,994$13,533,412$37,283,000
80$59,516,121$19,584,957$13,933,415$40,509,601
81$65,531,718$20,489,572$14,345,137$44,043,854
82$72,159,172$21,436,780$14,768,917$47,916,293
83$79,460,837$22,428,612$15,205,106$52,160,531
84$87,505,427$23,467,198$15,654,062$56,813,576
85$96,368,663$24,554,773$16,116,155$61,916,168
86$106,133,985$25,693,676$16,591,765$67,513,164
87$116,893,346$26,886,360$17,081,283$73,653,957
88$128,748,072$28,135,397$17,585,111$80,392,930
89$141,809,826$29,443,482$18,103,663$87,789,972
90$156,201,657$30,813,441$18,637,364$95,911,029
91$172,059,163$32,248,236$19,186,652$104,828,728
92$189,531,769$33,750,972$19,751,977$114,623,047
93$208,784,142$35,324,902$20,333,801$125,382,072
94$229,997,742$36,973,439$20,932,600$137,202,815
95$253,372,533$38,700,160$21,548,864$150,192,125
96$279,128,877$40,508,813$22,183,097$164,467,687
97$307,509,606$42,403,328$22,835,814$180,159,126
98$338,782,322$44,387,827$23,507,550$197,409,221
99$373,241,917$46,466,629$24,198,851$216,375,245
100$411,213,360$48,644,261$24,910,280$237,230,437