Can I retire at age 59 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$234,525$232,436$230,397$228,408$226,466$220,901
2 years$116,101$113,939$111,843$109,812$107,841$102,269
3 years$76,632$74,460$72,370$70,357$68,419$63,014
4 years$56,901$54,736$52,667$50,689$48,797$43,600
5 years$45,066$42,914$40,872$38,934$37,094$32,121
6 years$37,178$35,042$33,030$31,136$29,352$24,606
7 years$31,546$29,429$27,448$25,598$23,871$19,354
8 years$27,324$25,226$23,278$21,474$19,803$15,513
9 years$24,042$21,964$20,050$18,291$16,677$12,610
10 years$21,418$19,360$17,480$15,767$14,210$10,361
11 years$19,273$17,235$15,389$13,722$12,221$8,584
12 years$17,486$15,469$13,657$12,036$10,590$7,160
13 years$15,975$13,980$12,202$10,626$9,235$6,005
14 years$14,682$12,707$10,963$9,433$8,095$5,058
15 years$13,561$11,608$9,899$8,412$7,128$4,276
16 years$12,582$10,650$8,974$7,532$6,300$3,626
17 years$11,719$9,808$8,166$6,768$5,586$3,082
18 years$10,953$9,063$7,455$6,099$4,966$2,625
19 years$10,268$8,400$6,825$5,511$4,427$2,240
20 years$9,652$7,806$6,263$4,991$3,954$1,915
21 years$9,096$7,271$5,761$4,530$3,538$1,638
22 years$8,591$6,787$5,310$4,119$3,172$1,403
23 years$8,131$6,348$4,903$3,751$2,847$1,203
24 years$7,709$5,947$4,534$3,421$2,559$1,032
25 years$7,322$5,581$4,199$3,124$2,303$886
26 years$6,965$5,245$3,895$2,857$2,074$761
27 years$6,635$4,937$3,617$2,615$1,870$655
28 years$6,330$4,652$3,362$2,396$1,687$563
29 years$6,046$4,388$3,129$2,197$1,524$484
30 years$5,781$4,144$2,914$2,016$1,377$417
31 years$5,534$3,918$2,717$1,852$1,245$359
32 years$5,303$3,707$2,535$1,702$1,126$309
33 years$5,086$3,511$2,367$1,565$1,019$266
34 years$4,882$3,327$2,211$1,440$923$229
35 years$4,691$3,156$2,068$1,326$836$197
36 years$4,511$2,995$1,934$1,221$757$170
37 years$4,340$2,845$1,810$1,125$686$146
38 years$4,179$2,704$1,695$1,037$622$126
39 years$4,027$2,571$1,588$956$564$109
40 years$3,883$2,446$1,489$882$512$94
41 years$3,746$2,328$1,396$813$464$81
42 years$3,616$2,217$1,309$751$421$69
43 years$3,492$2,113$1,229$693$382$60
44 years$3,374$2,014$1,153$640$347$52
45 years$3,262$1,920$1,083$591$315$44
46 years$3,155$1,832$1,017$546$286$38
47 years$3,053$1,748$956$504$260$33
48 years$2,955$1,669$898$466$236$28
49 years$2,862$1,594$844$431$214$25
50 years$2,773$1,522$794$398$195$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,840,000, adding $3,227 every year, while hoping to spend $27,503 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: 43/31/26 Blend
58$2,840,000$2,840,000$2,840,000$2,840,000
59$3,133,009$2,982,489$2,938,469$3,243,853
60$3,423,313$3,099,368$3,007,644$3,440,221
61$3,742,306$3,221,052$3,078,216$3,649,975
62$4,092,885$3,347,748$3,150,200$3,876,709
63$4,478,243$3,479,671$3,223,616$4,122,009
64$4,901,896$3,617,047$3,298,479$4,387,619
65$5,367,718$3,760,111$3,374,806$4,675,457
66$5,879,977$3,909,108$3,452,614$4,987,629
67$6,443,377$4,064,296$3,531,919$5,326,452
68$7,063,097$4,225,943$3,612,734$5,694,473
69$7,744,848$4,394,330$3,695,076$6,094,491
70$8,494,919$4,569,748$3,778,958$6,529,586
71$9,320,241$4,752,505$3,864,392$7,003,146
72$10,228,448$4,942,921$3,951,392$7,518,897
73$11,227,956$5,141,330$4,039,970$8,080,936
74$12,328,033$5,348,081$4,130,135$8,693,774
75$13,538,896$5,563,540$4,221,897$9,362,372
76$14,871,798$5,788,089$4,315,266$10,092,191
77$16,339,143$6,022,127$4,410,249$10,889,239
78$17,954,595$6,266,070$4,506,852$11,760,129
79$19,733,212$6,520,356$4,605,080$12,712,140
80$21,691,587$6,785,441$4,704,937$13,753,284
81$23,848,002$7,061,800$4,806,425$14,892,379
82$26,222,603$7,349,933$4,909,545$16,139,134
83$28,837,590$7,650,361$5,014,296$17,504,239
84$31,717,424$7,963,629$5,120,675$18,999,462
85$34,889,061$8,290,307$5,228,678$20,637,759
86$38,382,203$8,630,990$5,338,297$22,433,397
87$42,229,582$8,986,302$5,449,523$24,402,087
88$46,467,263$9,356,895$5,562,346$26,561,129
89$51,134,991$9,743,450$5,676,752$28,929,574
90$56,276,562$10,146,680$5,792,725$31,528,401
91$61,940,235$10,567,332$5,910,245$34,380,719
92$68,179,192$11,006,185$6,029,292$37,511,974
93$75,052,036$11,464,054$6,149,840$40,950,195
94$82,623,345$11,941,794$6,271,860$44,726,254
95$90,964,282$12,440,297$6,395,323$48,874,153
96$100,153,265$12,960,498$6,520,193$53,431,347
97$110,276,709$13,503,373$6,646,430$58,439,092
98$121,429,840$14,069,945$6,773,992$63,942,832
99$133,717,595$14,661,284$6,902,832$69,992,629
100$147,255,611$15,278,508$7,032,899$76,643,628