Can I retire at age 59 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$195,712$193,969$192,268$190,608$188,987$182,718
2 years$96,887$95,083$93,334$91,639$89,994$83,739
3 years$63,950$62,138$60,393$58,714$57,096$51,051
4 years$47,484$45,678$43,951$42,300$40,721$34,933
5 years$37,608$35,812$34,108$32,490$30,956$25,439
6 years$31,025$29,243$27,564$25,983$24,494$19,254
7 years$26,326$24,558$22,906$21,362$19,920$14,956
8 years$22,802$21,051$19,426$17,920$16,526$11,834
9 years$20,064$18,329$16,732$15,264$13,917$9,492
10 years$17,874$16,156$14,587$13,158$11,858$7,692
11 years$16,083$14,383$12,842$11,451$10,198$6,284
12 years$14,592$12,909$11,397$10,044$8,838$5,166
13 years$13,332$11,666$10,183$8,867$7,707$4,268
14 years$12,252$10,604$9,149$7,872$6,756$3,541
15 years$11,317$9,687$8,260$7,020$5,948$2,948
16 years$10,500$8,888$7,489$6,286$5,257$2,460
17 years$9,780$8,185$6,815$5,648$4,661$2,058
18 years$9,140$7,564$6,221$5,090$4,145$1,725
19 years$8,569$7,010$5,695$4,599$3,694$1,448
20 years$8,055$6,514$5,227$4,165$3,300$1,216
21 years$7,591$6,067$4,808$3,780$2,953$1,023
22 years$7,169$5,664$4,431$3,437$2,647$862
23 years$6,785$5,297$4,091$3,130$2,376$726
24 years$6,433$4,963$3,784$2,855$2,136$612
25 years$6,110$4,658$3,504$2,607$1,922$517
26 years$5,813$4,377$3,250$2,384$1,731$436
27 years$5,537$4,120$3,018$2,182$1,561$368
28 years$5,282$3,882$2,806$1,999$1,408$311
29 years$5,045$3,662$2,611$1,833$1,272$263
30 years$4,824$3,458$2,432$1,683$1,149$222
31 years$4,618$3,269$2,267$1,545$1,039$188
32 years$4,425$3,094$2,115$1,420$940$159
33 years$4,244$2,930$1,975$1,306$850$134
34 years$4,074$2,777$1,845$1,202$770$113
35 years$3,915$2,634$1,725$1,106$697$96
36 years$3,764$2,500$1,614$1,019$632$81
37 years$3,622$2,374$1,511$939$573$69
38 years$3,488$2,256$1,415$865$519$58
39 years$3,361$2,145$1,325$798$471$49
40 years$3,240$2,041$1,242$736$427$41
41 years$3,126$1,943$1,165$679$387$35
42 years$3,017$1,851$1,093$626$352$30
43 years$2,914$1,763$1,025$578$319$25
44 years$2,816$1,681$963$534$290$21
45 years$2,722$1,603$904$493$263$18
46 years$2,633$1,529$849$456$239$15
47 years$2,548$1,459$797$421$217$13
48 years$2,466$1,393$749$389$197$11
49 years$2,388$1,330$704$359$179$9
50 years$2,314$1,271$662$332$162$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,370,000, adding $2,189 every year, while hoping to spend $57,789 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: 29/44/27 Blend
58$2,370,000$2,370,000$2,370,000$2,370,000
59$2,613,998$2,488,388$2,451,653$2,667,907
60$2,819,139$2,548,832$2,472,296$2,770,962
61$3,043,267$2,610,301$2,491,694$2,876,490
62$3,288,258$2,672,784$2,509,744$2,988,781
63$3,556,178$2,736,268$2,526,338$3,108,459
64$3,849,300$2,800,737$2,541,362$3,236,211
65$4,170,128$2,866,172$2,554,697$3,372,797
66$4,521,418$2,932,552$2,566,217$3,519,051
67$4,906,207$2,999,851$2,575,790$3,675,896
68$5,327,839$3,068,042$2,583,276$3,844,349
69$5,789,994$3,137,091$2,588,532$4,025,531
70$6,296,728$3,206,964$2,591,403$4,220,679
71$6,852,509$3,277,619$2,591,729$4,431,157
72$7,462,255$3,349,013$2,589,342$4,658,470
73$8,131,384$3,421,094$2,584,064$4,904,276
74$8,865,867$3,493,809$2,575,712$5,170,408
75$9,672,276$3,567,096$2,564,089$5,458,884
76$10,557,855$3,640,891$2,548,993$5,771,931
77$11,530,582$3,715,120$2,530,210$6,112,007
78$12,599,246$3,789,705$2,507,516$6,481,820
79$13,773,528$3,864,560$2,480,677$6,884,362
80$15,064,096$3,939,592$2,449,448$7,322,929
81$16,482,700$4,014,698$2,413,571$7,801,158
82$18,042,287$4,089,770$2,372,777$8,323,061
83$19,757,120$4,164,688$2,326,785$8,893,063
84$21,642,913$4,239,325$2,275,299$9,516,046
85$23,716,980$4,313,542$2,218,011$10,197,391
86$25,998,396$4,387,189$2,154,599$10,943,037
87$28,508,178$4,460,108$2,084,724$11,759,532
88$31,269,484$4,532,125$2,008,034$12,654,100
89$34,307,827$4,603,054$1,924,159$13,634,705
90$37,651,321$4,672,699$1,832,713$14,710,132
91$41,330,939$4,740,845$1,733,292$15,890,071
92$45,380,813$4,807,264$1,625,476$17,185,206
93$49,838,549$4,871,713$1,508,822$18,607,319
94$54,745,583$4,933,930$1,382,870$20,169,404
95$60,147,576$4,993,636$1,247,140$21,885,790
96$66,094,837$5,050,532$1,101,128$23,772,278
97$72,642,804$5,104,302$944,308$25,846,291
98$79,852,561$5,154,604$776,134$28,127,042
99$87,791,420$5,201,076$596,032$30,635,715
100$96,533,549$5,243,334$403,404$33,395,668