Can I retire at age 59 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$189,932$188,240$186,589$184,978$183,405$181,945
2 years$94,026$92,275$90,577$88,932$87,336$85,863
3 years$62,061$60,302$58,610$56,980$55,409$53,971
4 years$46,082$44,329$42,653$41,051$39,518$38,125
5 years$36,497$34,754$33,100$31,531$30,041$28,697
6 years$30,109$28,379$26,750$25,215$23,771$22,477
7 years$25,548$23,833$22,229$20,731$19,332$18,090
8 years$22,129$20,429$18,852$17,391$16,038$14,847
9 years$19,471$17,787$16,237$14,813$13,506$12,366
10 years$17,346$15,679$14,156$12,769$11,508$10,418
11 years$15,608$13,958$12,463$11,113$9,897$8,857
12 years$14,161$12,528$11,060$9,747$8,577$7,585
13 years$12,938$11,321$9,882$8,606$7,479$6,535
14 years$11,890$10,291$8,879$7,639$6,556$5,658
15 years$10,983$9,401$8,016$6,813$5,772$4,920
16 years$10,190$8,625$7,268$6,100$5,102$4,293
17 years$9,491$7,943$6,614$5,481$4,524$3,757
18 years$8,870$7,340$6,037$4,939$4,022$3,297
19 years$8,316$6,803$5,527$4,463$3,585$2,899
20 years$7,817$6,321$5,072$4,042$3,202$2,555
21 years$7,366$5,888$4,666$3,669$2,866$2,255
22 years$6,957$5,496$4,300$3,336$2,569$1,993
23 years$6,585$5,141$3,970$3,038$2,306$1,764
24 years$6,243$4,816$3,672$2,771$2,072$1,563
25 years$5,930$4,520$3,401$2,530$1,865$1,386
26 years$5,641$4,248$3,154$2,314$1,680$1,230
27 years$5,374$3,998$2,929$2,118$1,514$1,093
28 years$5,126$3,767$2,723$1,940$1,367$971
29 years$4,896$3,554$2,534$1,779$1,234$864
30 years$4,682$3,356$2,360$1,633$1,115$769
31 years$4,482$3,173$2,200$1,500$1,008$684
32 years$4,294$3,002$2,053$1,378$912$610
33 years$4,119$2,843$1,917$1,267$825$543
34 years$3,954$2,695$1,791$1,166$747$484
35 years$3,799$2,556$1,674$1,073$677$432
36 years$3,653$2,426$1,566$989$613$385
37 years$3,515$2,304$1,466$911$556$343
38 years$3,385$2,190$1,373$840$504$306
39 years$3,261$2,082$1,286$774$457$273
40 years$3,144$1,981$1,206$714$414$244
41 years$3,034$1,886$1,131$659$376$218
42 years$2,928$1,796$1,060$608$341$194
43 years$2,828$1,711$995$561$310$173
44 years$2,733$1,631$934$518$281$155
45 years$2,642$1,555$877$479$255$138
46 years$2,555$1,484$824$442$232$124
47 years$2,473$1,416$774$408$210$110
48 years$2,393$1,352$727$377$191$99
49 years$2,318$1,291$684$349$173$88
50 years$2,246$1,233$643$322$158$79

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,300,000, adding $2,407 every year, while hoping to spend $41,192 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: 56/28/16 Blend
58$2,300,000$2,300,000$2,300,000$2,300,000
59$2,537,083$2,415,183$2,379,533$2,668,362
60$2,752,037$2,489,699$2,415,419$2,832,365
61$2,987,537$2,566,486$2,451,127$3,006,260
62$3,245,633$2,645,611$2,486,607$3,194,752
63$3,528,586$2,727,144$2,521,807$3,399,249
64$3,838,885$2,811,157$2,556,671$3,621,298
65$4,179,271$2,897,724$2,591,140$3,862,602
66$4,552,765$2,986,921$2,625,151$4,125,039
67$4,962,692$3,078,825$2,658,639$4,410,671
68$5,412,717$3,173,518$2,691,533$4,721,774
69$5,906,874$3,271,081$2,723,760$5,060,848
70$6,449,611$3,371,599$2,755,241$5,430,651
71$7,045,824$3,475,160$2,785,895$5,834,216
72$7,700,909$3,581,854$2,815,633$6,274,886
73$8,420,810$3,691,773$2,844,365$6,756,340
74$9,212,074$3,805,012$2,871,993$7,282,632
75$10,081,917$3,921,668$2,898,415$7,858,224
76$11,038,284$4,041,842$2,923,524$8,488,035
77$12,089,934$4,165,636$2,947,207$9,177,479
78$13,246,513$4,293,158$2,969,344$9,932,521
79$14,518,650$4,424,516$2,989,810$10,759,733
80$15,918,056$4,559,821$3,008,473$11,666,352
81$17,457,635$4,699,189$3,025,193$12,660,353
82$19,151,602$4,842,738$3,039,826$13,750,519
83$21,015,623$4,990,590$3,052,218$14,946,528
84$23,066,957$5,142,869$3,062,207$16,259,041
85$25,324,620$5,299,704$3,069,625$17,699,804
86$27,809,568$5,461,225$3,074,294$19,281,757
87$30,544,888$5,627,569$3,076,027$21,019,158
88$33,556,021$5,798,875$3,074,628$22,927,716
89$36,870,999$5,975,284$3,069,893$25,024,738
90$40,520,712$6,156,944$3,061,605$27,329,294
91$44,539,195$6,344,004$3,049,539$29,862,395
92$48,963,952$6,536,620$3,033,458$32,647,193
93$53,836,310$6,734,949$3,013,113$35,709,195
94$59,201,807$6,939,154$2,988,245$39,076,510
95$65,110,621$7,149,403$2,958,582$42,780,108
96$71,618,046$7,365,865$2,923,836$46,854,116
97$78,785,013$7,588,719$2,883,710$51,336,137
98$86,678,660$7,818,142$2,837,891$56,267,606
99$95,372,974$8,054,321$2,786,050$61,694,181
100$104,949,479$8,297,445$2,727,845$67,666,172