Can I retire at age 59 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$196,538$194,788$193,080$191,412$189,785$185,197
2 years$97,296$95,484$93,728$92,025$90,374$85,779
3 years$64,220$62,400$60,648$58,961$57,337$52,879
4 years$47,685$45,871$44,136$42,478$40,893$36,606
5 years$37,766$35,963$34,252$32,627$31,086$26,983
6 years$31,156$29,367$27,680$26,092$24,597$20,681
7 years$26,437$24,662$23,003$21,452$20,004$16,276
8 years$22,899$21,140$19,508$17,996$16,596$13,053
9 years$20,148$18,406$16,802$15,328$13,976$10,617
10 years$17,949$16,224$14,649$13,213$11,908$8,729
11 years$16,151$14,443$12,896$11,499$10,241$7,237
12 years$14,654$12,964$11,445$10,086$8,875$6,040
13 years$13,388$11,715$10,226$8,905$7,739$5,069
14 years$12,304$10,649$9,188$7,905$6,784$4,273
15 years$11,365$9,728$8,295$7,050$5,973$3,615
16 years$10,544$8,925$7,521$6,312$5,279$3,067
17 years$9,821$8,220$6,844$5,671$4,681$2,609
18 years$9,179$7,595$6,247$5,111$4,162$2,224
19 years$8,605$7,039$5,719$4,618$3,710$1,899
20 years$8,089$6,541$5,249$4,183$3,314$1,624
21 years$7,623$6,093$4,828$3,796$2,965$1,391
22 years$7,199$5,688$4,450$3,452$2,658$1,192
23 years$6,814$5,319$4,108$3,143$2,386$1,023
24 years$6,460$4,984$3,800$2,867$2,145$879
25 years$6,136$4,677$3,519$2,618$1,930$755
26 years$5,837$4,396$3,264$2,394$1,738$649
27 years$5,561$4,137$3,031$2,191$1,567$558
28 years$5,305$3,898$2,818$2,008$1,414$481
29 years$5,066$3,678$2,622$1,841$1,277$414
30 years$4,845$3,473$2,442$1,690$1,154$356
31 years$4,638$3,283$2,277$1,552$1,043$307
32 years$4,444$3,107$2,124$1,426$944$264
33 years$4,262$2,942$1,983$1,311$854$228
34 years$4,092$2,788$1,853$1,207$773$196
35 years$3,931$2,645$1,733$1,111$700$169
36 years$3,780$2,510$1,621$1,023$634$146
37 years$3,637$2,384$1,517$943$575$126
38 years$3,502$2,266$1,421$869$521$109
39 years$3,375$2,155$1,331$801$473$94
40 years$3,254$2,050$1,248$739$429$81
41 years$3,139$1,951$1,170$682$389$70
42 years$3,030$1,858$1,097$629$353$60
43 years$2,926$1,771$1,030$581$320$52
44 years$2,828$1,688$967$536$291$45
45 years$2,734$1,609$908$495$264$39
46 years$2,644$1,535$852$457$240$33
47 years$2,559$1,465$801$423$218$29
48 years$2,477$1,399$753$391$198$25
49 years$2,399$1,336$707$361$180$21
50 years$2,324$1,276$665$334$163$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,380,000, adding $3,553 every year, while hoping to spend $41,497 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: 35/36/29 Blend
58$2,380,000$2,380,000$2,380,000$2,380,000
59$2,626,425$2,500,285$2,463,395$2,695,305
60$2,850,168$2,578,646$2,501,766$2,825,711
61$3,095,342$2,659,457$2,540,032$2,962,348
62$3,364,089$2,742,792$2,578,145$3,108,988
63$3,658,768$2,828,731$2,616,055$3,266,555
64$3,981,978$2,917,355$2,653,709$3,436,067
65$4,336,581$3,008,747$2,691,050$3,618,642
66$4,725,730$3,102,993$2,728,017$3,815,509
67$5,152,896$3,200,181$2,764,548$4,028,024
68$5,621,906$3,300,404$2,800,574$4,257,676
69$6,136,972$3,403,756$2,836,025$4,506,104
70$6,702,736$3,510,333$2,870,825$4,775,113
71$7,324,311$3,620,235$2,904,894$5,066,689
72$8,007,331$3,733,567$2,938,148$5,383,018
73$8,758,001$3,850,434$2,970,498$5,726,508
74$9,583,158$3,970,946$3,001,850$6,099,809
75$10,490,334$4,095,216$3,032,106$6,505,840
76$11,487,827$4,223,361$3,061,161$6,947,814
77$12,584,780$4,355,500$3,088,905$7,429,269
78$13,791,266$4,491,758$3,115,221$7,954,103
79$15,118,383$4,632,262$3,139,989$8,526,608
80$16,578,358$4,777,144$3,163,079$9,151,512
81$18,184,665$4,926,538$3,184,357$9,834,023
82$19,952,148$5,080,586$3,203,680$10,579,875
83$21,897,163$5,239,430$3,220,898$11,395,387
84$24,037,730$5,403,219$3,235,855$12,287,519
85$26,393,708$5,572,106$3,248,386$13,263,938
86$28,986,976$5,746,248$3,258,316$14,333,091
87$31,841,641$5,925,809$3,265,464$15,504,284
88$34,984,270$6,110,954$3,269,638$16,787,768
89$38,444,132$6,301,858$3,270,638$18,194,838
90$42,253,482$6,498,697$3,268,252$19,737,939
91$46,447,858$6,701,654$3,262,260$21,430,781
92$51,066,424$6,910,919$3,252,430$23,288,472
93$56,152,331$7,126,686$3,238,518$25,327,655
94$61,753,130$7,349,155$3,220,269$27,566,672
95$67,921,218$7,578,533$3,197,417$30,025,728
96$74,714,333$7,815,032$3,169,682$32,727,091
97$82,196,099$8,058,872$3,136,770$35,695,295
98$90,436,622$8,310,278$3,098,373$38,957,375
99$99,513,160$8,569,484$3,054,171$42,543,119
100$109,510,843$8,836,729$3,003,826$46,485,352