Can I retire at age 59 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$175,068$173,508$171,987$170,502$169,052$164,631
2 years$86,667$85,053$83,489$81,972$80,501$76,077
3 years$57,204$55,583$54,023$52,520$51,073$46,785
4 years$42,476$40,859$39,315$37,838$36,426$32,306
5 years$33,641$32,034$30,510$29,063$27,690$23,750
6 years$27,753$26,158$24,656$23,242$21,910$18,154
7 years$23,549$21,968$20,490$19,109$17,819$14,247
8 years$20,397$18,830$17,377$16,030$14,783$11,392
9 years$17,947$16,395$14,967$13,654$12,449$9,238
10 years$15,988$14,452$13,048$11,770$10,607$7,572
11 years$14,387$12,865$11,488$10,243$9,123$6,257
12 years$13,053$11,547$10,195$8,985$7,905$5,206
13 years$11,925$10,435$9,108$7,932$6,894$4,354
14 years$10,960$9,486$8,184$7,041$6,043$3,658
15 years$10,123$8,665$7,389$6,280$5,321$3,083
16 years$9,392$7,950$6,699$5,623$4,702$2,607
17 years$8,748$7,322$6,096$5,052$4,170$2,210
18 years$8,176$6,766$5,565$4,553$3,707$1,877
19 years$7,665$6,270$5,094$4,114$3,304$1,597
20 years$7,205$5,827$4,675$3,726$2,952$1,360
21 years$6,790$5,427$4,300$3,381$2,641$1,160
22 years$6,413$5,066$3,964$3,075$2,368$991
23 years$6,069$4,738$3,660$2,800$2,125$847
24 years$5,755$4,440$3,385$2,554$1,910$724
25 years$5,466$4,166$3,135$2,332$1,719$620
26 years$5,199$3,916$2,907$2,132$1,548$531
27 years$4,953$3,685$2,700$1,952$1,396$455
28 years$4,725$3,472$2,510$1,788$1,260$390
29 years$4,513$3,276$2,336$1,640$1,137$334
30 years$4,315$3,094$2,175$1,505$1,028$287
31 years$4,131$2,925$2,028$1,382$929$246
32 years$3,958$2,767$1,892$1,270$840$211
33 years$3,797$2,621$1,767$1,168$761$181
34 years$3,645$2,484$1,651$1,075$689$155
35 years$3,502$2,356$1,543$989$624$133
36 years$3,367$2,236$1,444$911$565$115
37 years$3,240$2,124$1,351$840$512$98
38 years$3,120$2,018$1,266$774$464$84
39 years$3,006$1,919$1,186$714$421$73
40 years$2,898$1,826$1,111$658$382$62
41 years$2,796$1,738$1,042$607$347$53
42 years$2,699$1,655$977$560$314$46
43 years$2,607$1,577$917$517$285$39
44 years$2,519$1,503$861$478$259$34
45 years$2,435$1,434$808$441$235$29
46 years$2,355$1,368$759$407$214$25
47 years$2,279$1,305$713$376$194$21
48 years$2,206$1,246$670$348$176$18
49 years$2,137$1,190$630$321$160$16
50 years$2,070$1,137$592$297$145$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,120,000, adding $4,301 every year, while hoping to spend $48,793 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: 48/27/25 Blend
58$2,120,000$2,120,000$2,120,000$2,120,000
59$2,340,676$2,228,316$2,195,456$2,436,188
60$2,527,510$2,285,589$2,217,089$2,560,803
61$2,731,765$2,344,032$2,237,811$2,690,868
62$2,955,168$2,403,652$2,257,540$2,831,142
63$3,199,618$2,464,453$2,276,190$2,982,608
64$3,467,206$2,526,439$2,293,670$3,146,351
65$3,760,238$2,589,611$2,309,884$3,323,565
66$4,081,249$2,653,969$2,324,732$3,515,566
67$4,433,033$2,719,510$2,338,107$3,723,804
68$4,818,667$2,786,231$2,349,899$3,949,877
69$5,241,540$2,854,125$2,359,990$4,195,544
70$5,705,385$2,923,185$2,368,257$4,462,748
71$6,214,311$2,993,398$2,374,571$4,753,625
72$6,772,848$3,064,752$2,378,796$5,070,532
73$7,385,983$3,137,229$2,380,790$5,416,066
74$8,059,211$3,210,811$2,380,404$5,793,090
75$8,798,583$3,285,473$2,377,480$6,204,758
76$9,610,767$3,361,190$2,371,854$6,654,546
77$10,503,107$3,437,930$2,363,353$7,146,287
78$11,483,696$3,515,661$2,351,798$7,684,205
79$12,561,447$3,594,342$2,336,997$8,272,954
80$13,746,181$3,673,931$2,318,752$8,917,667
81$15,048,716$3,754,378$2,296,855$9,623,998
82$16,480,974$3,835,631$2,271,089$10,398,182
83$18,056,086$3,917,630$2,241,223$11,247,090
84$19,788,523$4,000,310$2,207,020$12,178,295
85$21,694,225$4,083,599$2,168,228$13,200,146
86$23,790,759$4,167,417$2,124,586$14,321,842
87$26,097,476$4,251,680$2,075,820$15,553,528
88$28,635,700$4,336,294$2,021,641$16,906,380
89$31,428,926$4,421,157$1,961,751$18,392,721
90$34,503,041$4,506,158$1,895,834$20,026,132
91$37,886,569$4,591,178$1,823,562$21,821,583
92$41,610,940$4,676,087$1,744,592$23,795,573
93$45,710,784$4,760,744$1,658,565$25,966,288
94$50,224,263$4,844,999$1,565,105$28,353,775
95$55,193,421$4,928,688$1,463,820$30,980,126
96$60,664,592$5,011,635$1,354,300$33,869,694
97$66,688,828$5,093,653$1,236,117$37,049,321
98$73,322,384$5,174,537$1,108,822$40,548,589
99$80,627,248$5,254,071$971,949$44,400,107
100$88,671,727$5,332,020$825,009$48,639,813