Can I retire at age 59 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$226,267$224,251$222,285$220,366$218,491$215,493
2 years$112,013$109,927$107,905$105,945$104,044$101,028
3 years$73,934$71,839$69,822$67,880$66,010$63,071
4 years$54,898$52,809$50,812$48,904$47,079$44,239
5 years$43,479$41,403$39,433$37,563$35,788$33,056
6 years$35,869$33,809$31,867$30,039$28,318$25,697
7 years$30,436$28,392$26,482$24,697$23,030$20,521
8 years$26,362$24,337$22,459$20,718$19,106$16,707
9 years$23,196$21,190$19,344$17,647$16,090$13,802
10 years$20,664$18,678$16,864$15,212$13,709$11,530
11 years$18,594$16,628$14,847$13,239$11,790$9,718
12 years$16,870$14,924$13,176$11,612$10,217$8,248
13 years$15,413$13,487$11,772$10,252$8,910$7,042
14 years$14,165$12,260$10,577$9,100$7,810$6,041
15 years$13,084$11,199$9,550$8,116$6,877$5,203
16 years$12,139$10,275$8,658$7,267$6,078$4,497
17 years$11,307$9,463$7,879$6,529$5,389$3,897
18 years$10,567$8,744$7,192$5,884$4,792$3,386
19 years$9,906$8,104$6,584$5,317$4,271$2,947
20 years$9,312$7,531$6,043$4,815$3,815$2,570
21 years$8,776$7,015$5,558$4,370$3,414$2,245
22 years$8,288$6,548$5,123$3,974$3,060$1,963
23 years$7,844$6,124$4,730$3,619$2,747$1,719
24 years$7,438$5,738$4,374$3,301$2,469$1,507
25 years$7,064$5,385$4,052$3,014$2,222$1,322
26 years$6,720$5,061$3,758$2,756$2,001$1,160
27 years$6,402$4,763$3,489$2,523$1,804$1,019
28 years$6,107$4,488$3,244$2,311$1,628$896
29 years$5,833$4,234$3,019$2,120$1,470$788
30 years$5,577$3,998$2,812$1,945$1,328$693
31 years$5,339$3,780$2,621$1,787$1,201$610
32 years$5,116$3,576$2,446$1,642$1,086$537
33 years$4,907$3,387$2,284$1,510$983$473
34 years$4,711$3,210$2,134$1,389$890$417
35 years$4,526$3,045$1,995$1,279$806$367
36 years$4,352$2,890$1,866$1,178$730$324
37 years$4,187$2,745$1,747$1,085$662$285
38 years$4,032$2,608$1,636$1,000$600$251
39 years$3,885$2,480$1,532$922$544$222
40 years$3,746$2,360$1,436$851$494$195
41 years$3,614$2,246$1,347$785$448$172
42 years$3,488$2,139$1,263$724$406$152
43 years$3,369$2,038$1,185$669$369$134
44 years$3,256$1,943$1,113$617$335$118
45 years$3,147$1,853$1,045$570$304$104
46 years$3,044$1,768$981$527$276$92
47 years$2,946$1,687$922$487$251$81
48 years$2,851$1,610$866$450$228$72
49 years$2,761$1,538$814$416$207$63
50 years$2,675$1,469$766$384$188$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,740,000, adding $4,722 every year, while hoping to spend $59,843 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: 73/13/14 Blend
58$2,740,000$2,740,000$2,740,000$2,740,000
59$3,024,351$2,879,131$2,836,661$3,235,616
60$3,269,162$2,956,536$2,868,016$3,453,511
61$3,536,938$3,035,728$2,898,417$3,684,296
62$3,829,959$3,116,731$2,927,767$3,935,490
63$4,150,734$3,199,570$2,955,966$4,209,100
64$4,502,026$3,284,267$2,982,908$4,507,337
65$4,886,880$3,370,843$3,008,483$4,832,637
66$5,308,647$3,459,319$3,032,572$5,187,683
67$5,771,018$3,549,715$3,055,052$5,575,429
68$6,278,059$3,642,048$3,075,794$5,999,129
69$6,834,247$3,736,335$3,094,659$6,462,367
70$7,444,516$3,832,591$3,111,505$6,969,095
71$8,114,297$3,930,828$3,126,181$7,523,660
72$8,849,574$4,031,057$3,138,527$8,130,857
73$9,656,939$4,133,288$3,148,377$8,795,966
74$10,543,655$4,237,526$3,155,555$9,524,803
75$11,517,718$4,343,776$3,159,877$10,323,778
76$12,587,943$4,452,039$3,161,150$11,199,952
77$13,764,036$4,562,312$3,159,172$12,161,105
78$15,056,693$4,674,590$3,153,729$13,215,810
79$16,477,695$4,788,864$3,144,599$14,373,512
80$18,040,024$4,905,123$3,131,547$15,644,618
81$19,757,982$5,023,349$3,114,328$17,040,596
82$21,647,323$5,143,521$3,092,686$18,574,082
83$23,725,410$5,265,613$3,066,351$20,258,998
84$26,011,368$5,389,594$3,035,040$22,110,687
85$28,526,272$5,515,429$2,998,458$24,146,055
86$31,293,341$5,643,074$2,956,296$26,383,730
87$34,338,159$5,772,482$2,908,229$28,844,241
88$37,688,915$5,903,597$2,853,918$31,550,208
89$41,376,668$6,036,357$2,793,008$34,526,558
90$45,435,642$6,170,692$2,725,127$37,800,759
91$49,903,545$6,306,523$2,649,887$41,403,080
92$54,821,929$6,443,765$2,566,880$45,366,877
93$60,236,577$6,582,321$2,475,682$49,728,907
94$66,197,937$6,722,084$2,375,847$54,529,675
95$72,761,599$6,862,939$2,266,910$59,813,817
96$79,988,816$7,004,757$2,148,385$65,630,522
97$87,947,083$7,147,398$2,019,764$72,033,996
98$96,710,775$7,290,710$1,880,516$79,083,971
99$106,361,846$7,434,526$1,730,085$86,846,275
100$116,990,603$7,578,667$1,567,891$95,393,449