Can I retire at age 59 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$233,699$231,617$229,586$227,604$225,668$220,751
2 years$115,692$113,538$111,450$109,425$107,461$102,532
3 years$76,362$74,198$72,115$70,110$68,178$63,390
4 years$56,701$54,544$52,481$50,510$48,625$44,016
5 years$44,907$42,763$40,728$38,797$36,964$32,547
6 years$37,047$34,919$32,914$31,026$29,248$25,028
7 years$31,435$29,325$27,352$25,508$23,787$19,763
8 years$27,228$25,137$23,196$21,398$19,733$15,906
9 years$23,958$21,886$19,979$18,226$16,618$12,984
10 years$21,343$19,292$17,418$15,711$14,160$10,714
11 years$19,205$17,174$15,335$13,674$12,178$8,917
12 years$17,424$15,415$13,609$11,994$10,553$7,472
13 years$15,919$13,930$12,159$10,589$9,202$6,296
14 years$14,630$12,662$10,925$9,399$8,067$5,328
15 years$13,514$11,567$9,864$8,383$7,103$4,527
16 years$12,538$10,613$8,943$7,506$6,277$3,857
17 years$11,678$9,774$8,138$6,744$5,566$3,296
18 years$10,914$9,032$7,429$6,077$4,949$2,822
19 years$10,232$8,370$6,801$5,492$4,411$2,420
20 years$9,618$7,778$6,241$4,974$3,940$2,079
21 years$9,064$7,245$5,741$4,514$3,526$1,789
22 years$8,561$6,763$5,291$4,104$3,160$1,541
23 years$8,102$6,325$4,885$3,738$2,837$1,328
24 years$7,682$5,926$4,518$3,409$2,550$1,146
25 years$7,296$5,562$4,185$3,113$2,295$989
26 years$6,941$5,227$3,881$2,847$2,067$855
27 years$6,612$4,919$3,604$2,606$1,863$739
28 years$6,307$4,635$3,350$2,387$1,681$639
29 years$6,024$4,373$3,118$2,189$1,518$553
30 years$5,761$4,130$2,904$2,009$1,372$478
31 years$5,514$3,904$2,707$1,845$1,240$414
32 years$5,284$3,694$2,526$1,696$1,122$359
33 years$5,068$3,498$2,359$1,559$1,015$311
34 years$4,865$3,316$2,204$1,435$919$269
35 years$4,674$3,145$2,060$1,321$833$233
36 years$4,495$2,985$1,927$1,216$754$202
37 years$4,325$2,835$1,804$1,121$684$175
38 years$4,165$2,694$1,689$1,033$620$152
39 years$4,013$2,562$1,583$953$562$132
40 years$3,869$2,437$1,483$879$510$114
41 years$3,733$2,320$1,391$811$463$99
42 years$3,603$2,210$1,305$748$420$86
43 years$3,480$2,105$1,224$691$381$74
44 years$3,362$2,007$1,149$638$346$64
45 years$3,251$1,914$1,079$589$314$56
46 years$3,144$1,826$1,014$544$285$48
47 years$3,042$1,742$952$503$259$42
48 years$2,945$1,663$895$464$235$36
49 years$2,852$1,588$841$429$213$32
50 years$2,763$1,517$791$397$194$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,830,000, adding $3,855 every year, while hoping to spend $41,052 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: 37/47/16 Blend
58$2,830,000$2,830,000$2,830,000$2,830,000
59$3,122,636$2,972,646$2,928,781$3,222,868
60$3,397,466$3,074,627$2,983,217$3,397,360
61$3,698,953$3,180,229$3,038,099$3,581,519
62$4,029,772$3,289,586$3,093,402$3,779,562
63$4,392,871$3,402,838$3,149,093$3,992,754
64$4,791,495$3,520,129$3,205,139$4,222,485
65$5,229,222$3,641,609$3,261,505$4,470,281
66$5,709,991$3,767,436$3,318,153$4,737,819
67$6,238,140$3,897,770$3,375,042$5,026,943
68$6,818,451$4,032,782$3,432,127$5,339,676
69$7,456,190$4,172,646$3,489,360$5,678,246
70$8,157,160$4,317,544$3,546,693$6,045,099
71$8,927,753$4,467,666$3,604,069$6,442,927
72$9,775,011$4,623,209$3,661,433$6,874,689
73$10,706,693$4,784,377$3,718,721$7,343,639
74$11,731,348$4,951,383$3,775,870$7,853,357
75$12,858,393$5,124,448$3,832,810$8,407,781
76$14,098,206$5,303,803$3,889,466$9,011,243
77$15,462,219$5,489,686$3,945,760$9,668,510
78$16,963,032$5,682,347$4,001,608$10,384,828
79$18,614,522$5,882,043$4,056,924$11,165,969
80$20,431,985$6,089,044$4,111,612$12,018,286
81$22,432,270$6,303,630$4,165,573$12,948,772
82$24,633,945$6,526,092$4,218,704$13,965,123
83$27,057,469$6,756,732$4,270,892$15,075,813
84$29,725,384$6,995,865$4,322,020$16,290,169
85$32,662,531$7,243,820$4,371,965$17,618,461
86$35,896,279$7,500,937$4,420,596$19,071,995
87$39,456,787$7,767,571$4,467,774$20,663,220
88$43,377,289$8,044,092$4,513,354$22,405,846
89$47,694,403$8,330,883$4,557,182$24,314,967
90$52,448,481$8,628,344$4,599,096$26,407,207
91$57,683,986$8,936,893$4,638,925$28,700,872
92$63,449,913$9,256,962$4,676,491$31,216,125
93$69,800,254$9,589,002$4,711,602$33,975,170
94$76,794,500$9,933,484$4,744,062$37,002,464
95$84,498,210$10,290,896$4,773,659$40,324,945
96$92,983,625$10,661,747$4,800,173$43,972,283
97$102,330,349$11,046,567$4,823,374$47,977,159
98$112,626,105$11,445,909$4,843,018$52,375,573
99$123,967,557$11,860,348$4,858,848$57,207,181
100$136,461,226$12,290,483$4,870,597$62,515,666