Can I retire at age 59 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$184,151$182,511$180,911$179,349$177,823$175,893
2 years$91,164$89,466$87,821$86,225$84,678$82,734
3 years$60,172$58,467$56,826$55,245$53,723$51,827
4 years$44,679$42,980$41,355$39,801$38,316$36,481
5 years$35,386$33,696$32,093$30,571$29,127$27,359
6 years$29,193$27,516$25,936$24,448$23,047$21,349
7 years$24,771$23,108$21,553$20,100$18,744$17,115
8 years$21,455$19,808$18,278$16,861$15,550$13,991
9 years$18,878$17,246$15,743$14,362$13,095$11,605
10 years$16,818$15,202$13,725$12,380$11,158$9,736
11 years$15,133$13,533$12,084$10,775$9,596$8,242
12 years$13,730$12,147$10,724$9,451$8,316$7,027
13 years$12,544$10,977$9,581$8,344$7,251$6,027
14 years$11,528$9,978$8,609$7,407$6,357$5,194
15 years$10,649$9,115$7,772$6,605$5,597$4,495
16 years$9,880$8,363$7,047$5,914$4,946$3,904
17 years$9,202$7,702$6,412$5,314$4,386$3,400
18 years$8,600$7,117$5,854$4,789$3,900$2,968
19 years$8,062$6,596$5,359$4,327$3,476$2,597
20 years$7,579$6,129$4,918$3,919$3,105$2,277
21 years$7,142$5,709$4,524$3,557$2,778$1,999
22 years$6,746$5,329$4,169$3,234$2,490$1,758
23 years$6,384$4,984$3,850$2,945$2,236$1,547
24 years$6,053$4,670$3,560$2,686$2,009$1,363
25 years$5,749$4,382$3,297$2,453$1,808$1,203
26 years$5,469$4,119$3,058$2,243$1,629$1,062
27 years$5,210$3,876$2,840$2,053$1,468$938
28 years$4,970$3,653$2,640$1,881$1,325$829
29 years$4,747$3,446$2,457$1,725$1,196$733
30 years$4,539$3,254$2,288$1,583$1,081$649
31 years$4,345$3,076$2,133$1,454$977$574
32 years$4,164$2,911$1,990$1,336$884$508
33 years$3,994$2,757$1,858$1,229$800$450
34 years$3,834$2,613$1,736$1,131$724$399
35 years$3,683$2,478$1,623$1,041$656$354
36 years$3,542$2,352$1,519$959$594$314
37 years$3,408$2,234$1,421$883$539$278
38 years$3,282$2,123$1,331$814$488$247
39 years$3,162$2,019$1,247$751$443$219
40 years$3,049$1,921$1,169$692$402$194
41 years$2,941$1,828$1,096$639$365$172
42 years$2,839$1,741$1,028$589$331$153
43 years$2,742$1,659$965$544$300$136
44 years$2,650$1,581$906$502$272$120
45 years$2,561$1,508$850$464$247$107
46 years$2,477$1,439$799$429$225$95
47 years$2,397$1,373$750$396$204$84
48 years$2,321$1,311$705$366$185$75
49 years$2,247$1,252$663$338$168$66
50 years$2,177$1,195$623$313$153$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,230,000, adding $6,942 every year, while hoping to spend $43,687 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: 60/24/16 Blend
58$2,230,000$2,230,000$2,230,000$2,230,000
59$2,464,621$2,346,431$2,311,866$2,602,074
60$2,669,529$2,414,923$2,342,831$2,764,125
61$2,893,875$2,485,308$2,373,369$2,935,346
62$3,139,593$2,557,630$2,403,419$3,121,111
63$3,408,816$2,631,939$2,432,919$3,322,829
64$3,703,893$2,708,282$2,461,799$3,542,056
65$4,027,411$2,786,708$2,489,990$3,780,502
66$4,382,217$2,867,268$2,517,415$4,040,050
67$4,771,450$2,950,011$2,543,996$4,322,776
68$5,198,566$3,034,989$2,569,647$4,630,963
69$5,667,371$3,122,255$2,594,282$4,967,127
70$6,182,058$3,211,861$2,617,805$5,334,039
71$6,747,247$3,303,861$2,640,121$5,734,750
72$7,368,025$3,398,309$2,661,124$6,172,622
73$8,049,999$3,495,261$2,680,707$6,651,356
74$8,799,342$3,594,773$2,698,754$7,175,031
75$9,622,859$3,696,900$2,715,146$7,748,139
76$10,528,042$3,801,700$2,729,755$8,375,629
77$11,523,149$3,909,230$2,742,449$9,062,953
78$12,617,277$4,019,549$2,753,087$9,816,118
79$13,820,446$4,132,714$2,761,523$10,641,739
80$15,143,700$4,248,785$2,767,602$11,547,108
81$16,599,202$4,367,821$2,771,162$12,540,257
82$18,200,358$4,489,881$2,772,032$13,630,035
83$19,961,934$4,615,025$2,770,036$14,826,192
84$21,900,203$4,743,313$2,764,984$16,139,472
85$24,033,094$4,874,805$2,756,680$17,581,712
86$26,380,360$5,009,561$2,744,920$19,165,955
87$28,963,768$5,147,640$2,729,485$20,906,571
88$31,807,300$5,289,103$2,710,151$22,819,398
89$34,937,384$5,434,008$2,686,680$24,921,882
90$38,383,136$5,582,414$2,658,824$27,233,252
91$42,176,643$5,734,379$2,626,321$29,774,694
92$46,353,258$5,889,961$2,588,901$32,569,553
93$50,951,938$6,049,217$2,546,276$35,643,555
94$56,015,609$6,212,201$2,498,149$39,025,048
95$61,591,570$6,378,969$2,444,207$42,745,269
96$67,731,945$6,549,573$2,384,122$46,838,640
97$74,494,166$6,724,064$2,317,553$51,343,092
98$81,941,521$6,902,493$2,244,141$56,300,426
99$90,143,747$7,084,907$2,163,511$61,756,703
100$99,177,693$7,271,351$2,075,272$67,762,680