Can I retire at age 59 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$170,113$168,598$167,119$165,676$164,267$158,565
2 years$84,214$82,646$81,126$79,652$78,223$72,537
3 years$55,585$54,010$52,494$51,034$49,628$44,137
4 years$41,273$39,703$38,202$36,767$35,395$30,141
5 years$32,689$31,128$29,646$28,241$26,907$21,903
6 years$26,967$25,418$23,959$22,584$21,290$16,542
7 years$22,882$21,346$19,910$18,568$17,315$12,820
8 years$19,820$18,298$16,885$15,576$14,364$10,119
9 years$17,439$15,931$14,543$13,267$12,097$8,097
10 years$15,536$14,043$12,679$11,437$10,307$6,545
11 years$13,980$12,501$11,162$9,953$8,864$5,333
12 years$12,684$11,221$9,906$8,730$7,682$4,373
13 years$11,588$10,140$8,851$7,708$6,699$3,603
14 years$10,649$9,217$7,952$6,842$5,872$2,981
15 years$9,837$8,420$7,180$6,102$5,170$2,474
16 years$9,127$7,725$6,510$5,463$4,569$2,059
17 years$8,501$7,115$5,924$4,909$4,052$1,717
18 years$7,945$6,574$5,407$4,424$3,602$1,435
19 years$7,448$6,093$4,950$3,997$3,211$1,201
20 years$7,001$5,662$4,543$3,620$2,868$1,006
21 years$6,598$5,274$4,179$3,286$2,567$844
22 years$6,231$4,923$3,851$2,987$2,301$708
23 years$5,897$4,604$3,556$2,721$2,065$595
24 years$5,592$4,314$3,289$2,481$1,856$500
25 years$5,311$4,048$3,046$2,266$1,670$420
26 years$5,052$3,805$2,825$2,072$1,505$354
27 years$4,813$3,581$2,623$1,897$1,356$298
28 years$4,591$3,374$2,439$1,738$1,224$251
29 years$4,385$3,183$2,269$1,594$1,105$211
30 years$4,193$3,006$2,114$1,462$999$178
31 years$4,014$2,842$1,971$1,343$903$150
32 years$3,846$2,689$1,839$1,234$817$126
33 years$3,689$2,546$1,717$1,135$739$106
34 years$3,542$2,413$1,604$1,044$669$90
35 years$3,403$2,289$1,500$961$606$75
36 years$3,272$2,173$1,403$885$549$64
37 years$3,148$2,064$1,313$816$498$54
38 years$3,032$1,961$1,230$752$451$45
39 years$2,921$1,865$1,152$693$409$38
40 years$2,816$1,774$1,080$640$371$32
41 years$2,717$1,689$1,013$590$337$27
42 years$2,623$1,608$950$545$306$23
43 years$2,533$1,533$891$503$277$19
44 years$2,448$1,461$837$464$252$16
45 years$2,366$1,393$786$429$228$14
46 years$2,289$1,329$738$396$207$12
47 years$2,215$1,268$693$366$188$10
48 years$2,144$1,211$651$338$171$8
49 years$2,076$1,156$612$312$155$7
50 years$2,011$1,104$576$289$141$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,060,000, adding $6,413 every year, while hoping to spend $43,316 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: 54/18/28 Blend
58$2,060,000$2,060,000$2,060,000$2,060,000
59$2,276,735$2,167,555$2,135,625$2,381,640
60$2,462,874$2,227,677$2,161,081$2,514,988
61$2,666,548$2,289,294$2,185,937$2,655,124
62$2,889,498$2,352,432$2,210,129$2,806,829
63$3,133,645$2,417,119$2,233,586$2,971,232
64$3,401,102$2,483,383$2,256,236$3,149,573
65$3,694,196$2,551,250$2,278,002$3,343,221
66$4,015,490$2,620,748$2,298,801$3,553,682
67$4,367,807$2,691,902$2,318,548$3,782,617
68$4,754,257$2,764,738$2,337,153$4,031,855
69$5,178,264$2,839,283$2,354,520$4,303,411
70$5,643,601$2,915,562$2,370,551$4,599,506
71$6,154,422$2,993,599$2,385,138$4,922,587
72$6,715,305$3,073,417$2,398,172$5,275,350
73$7,331,292$3,155,040$2,409,537$5,660,766
74$8,007,937$3,238,491$2,419,110$6,082,111
75$8,751,359$3,323,789$2,426,762$6,542,990
76$9,568,298$3,410,954$2,432,358$7,047,382
77$10,466,180$3,500,007$2,435,758$7,599,667
78$11,453,186$3,590,963$2,436,812$8,204,675
79$12,538,330$3,683,839$2,435,364$8,867,726
80$13,731,541$3,778,649$2,431,251$9,594,685
81$15,043,761$3,875,405$2,424,300$10,392,017
82$16,487,042$3,974,118$2,414,332$11,266,843
83$18,074,666$4,074,796$2,401,158$12,227,015
84$19,821,265$4,177,443$2,384,579$13,281,182
85$21,742,961$4,282,065$2,364,389$14,438,881
86$23,857,518$4,388,661$2,340,371$15,710,619
87$26,184,507$4,497,228$2,312,296$17,107,978
88$28,745,496$4,607,761$2,279,927$18,643,721
89$31,564,246$4,720,251$2,243,014$20,331,914
90$34,666,939$4,834,683$2,201,296$22,188,062
91$38,082,427$4,951,042$2,154,498$24,229,248
92$41,842,497$5,069,306$2,102,337$26,474,305
93$45,982,177$5,189,448$2,044,511$28,943,984
94$50,540,065$5,311,437$1,980,708$31,661,159
95$55,558,690$5,435,236$1,910,600$34,651,036
96$61,084,917$5,560,802$1,833,845$37,941,396
97$67,170,384$5,688,087$1,750,085$41,562,856
98$73,871,996$5,817,036$1,658,945$45,549,161
99$81,252,454$5,947,586$1,560,035$49,937,497
100$89,380,853$6,079,666$1,452,944$54,768,851