Can I retire at age 59 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$240,305$238,165$236,076$234,038$232,047$228,297
2 years$118,963$116,747$114,600$112,518$110,499$106,731
3 years$78,521$76,296$74,154$72,091$70,105$66,437
4 years$58,304$56,085$53,965$51,938$49,999$46,459
5 years$46,177$43,972$41,879$39,893$38,009$34,606
6 years$38,095$35,906$33,845$31,903$30,075$26,814
7 years$32,324$30,154$28,125$26,229$24,459$21,341
8 years$27,998$25,847$23,852$22,003$20,291$17,316
9 years$24,635$22,505$20,544$18,742$17,088$14,253
10 years$21,946$19,837$17,911$16,156$14,560$11,864
11 years$19,748$17,660$15,768$14,060$12,522$9,961
12 years$17,917$15,850$13,994$12,333$10,851$8,423
13 years$16,369$14,324$12,503$10,888$9,463$7,163
14 years$15,044$13,020$11,234$9,665$8,295$6,120
15 years$13,896$11,894$10,142$8,620$7,303$5,250
16 years$12,892$10,913$9,196$7,718$6,455$4,518
17 years$12,008$10,050$8,368$6,934$5,723$3,899
18 years$11,223$9,287$7,639$6,249$5,089$3,373
19 years$10,521$8,607$6,993$5,647$4,536$2,923
20 years$9,890$7,998$6,418$5,114$4,051$2,538
21 years$9,320$7,450$5,903$4,641$3,626$2,207
22 years$8,803$6,954$5,441$4,220$3,250$1,921
23 years$8,331$6,504$5,023$3,843$2,917$1,674
24 years$7,899$6,094$4,646$3,505$2,622$1,460
25 years$7,502$5,719$4,303$3,201$2,359$1,275
26 years$7,137$5,375$3,991$2,927$2,125$1,114
27 years$6,799$5,058$3,706$2,679$1,916$974
28 years$6,486$4,766$3,445$2,455$1,729$852
29 years$6,195$4,497$3,206$2,251$1,561$745
30 years$5,924$4,246$2,986$2,066$1,411$653
31 years$5,670$4,014$2,784$1,897$1,275$572
32 years$5,433$3,798$2,597$1,744$1,154$501
33 years$5,211$3,597$2,425$1,604$1,044$439
34 years$5,003$3,409$2,266$1,475$945$385
35 years$4,807$3,234$2,119$1,358$856$337
36 years$4,622$3,069$1,982$1,251$776$296
37 years$4,447$2,915$1,855$1,152$703$259
38 years$4,282$2,770$1,737$1,062$637$227
39 years$4,126$2,634$1,627$979$578$199
40 years$3,978$2,506$1,525$903$524$175
41 years$3,838$2,386$1,430$834$476$154
42 years$3,705$2,272$1,342$769$432$135
43 years$3,578$2,165$1,259$710$392$118
44 years$3,457$2,064$1,182$656$356$104
45 years$3,343$1,968$1,110$606$323$91
46 years$3,233$1,877$1,042$559$293$80
47 years$3,128$1,791$979$517$266$70
48 years$3,028$1,710$920$477$242$62
49 years$2,933$1,633$865$441$219$54
50 years$2,841$1,560$813$408$199$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,910,000, adding $6,213 every year, while hoping to spend $46,849 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: 56/35/9 Blend
58$2,910,000$2,910,000$2,910,000$2,910,000
59$3,213,229$3,058,999$3,013,894$3,385,901
60$3,491,131$3,159,043$3,065,012$3,603,234
61$3,795,809$3,262,419$3,116,273$3,834,101
62$4,129,945$3,369,240$3,167,631$4,084,424
63$4,496,492$3,479,626$3,219,039$4,356,067
64$4,898,703$3,593,697$3,270,447$4,651,075
65$5,340,163$3,711,579$3,321,798$4,971,703
66$5,824,818$3,833,405$3,373,037$5,320,429
67$6,357,016$3,959,309$3,424,100$5,699,981
68$6,941,547$4,089,431$3,474,923$6,113,359
69$7,583,689$4,223,916$3,525,437$6,563,868
70$8,289,253$4,362,916$3,575,567$7,055,143
71$9,064,643$4,506,586$3,625,235$7,591,186
72$9,916,915$4,655,086$3,674,359$8,176,402
73$10,853,840$4,808,586$3,722,850$8,815,641
74$11,883,982$4,967,257$3,770,615$9,514,242
75$13,016,775$5,131,278$3,817,557$10,278,085
76$14,262,612$5,300,837$3,863,571$11,113,643
77$15,632,945$5,476,125$3,908,548$12,028,043
78$17,140,392$5,657,341$3,952,370$13,029,134
79$18,798,854$5,844,694$3,994,917$14,125,560
80$20,623,649$6,038,396$4,036,059$15,326,841
81$22,631,654$6,238,669$4,075,659$16,643,460
82$24,841,463$6,445,745$4,113,575$18,086,965
83$27,273,567$6,659,861$4,149,654$19,670,073
84$29,950,541$6,881,264$4,183,737$21,406,793
85$32,897,260$7,110,210$4,215,657$23,312,555
86$36,141,136$7,346,965$4,245,236$25,404,355
87$39,712,370$7,591,805$4,272,290$27,700,916
88$43,644,243$7,845,014$4,296,622$30,222,863
89$47,973,424$8,106,889$4,318,028$32,992,915
90$52,740,322$8,377,735$4,336,291$36,036,102
91$57,989,463$8,657,872$4,351,185$39,379,997
92$63,769,909$8,947,629$4,362,471$43,054,977
93$70,135,725$9,247,348$4,369,898$47,094,509
94$77,146,485$9,557,383$4,373,205$51,535,464
95$84,867,834$9,878,103$4,372,116$56,418,463
96$93,372,113$10,209,890$4,366,341$61,788,260
97$102,739,032$10,553,138$4,355,577$67,694,166
98$113,056,430$10,908,259$4,339,506$74,190,509
99$124,421,100$11,275,678$4,317,794$81,337,147
100$136,939,704$11,655,837$4,290,091$89,200,033