Can I retire at age 59 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$241,957$239,801$237,699$235,646$233,642$229,961
2 years$119,781$117,550$115,388$113,292$111,258$107,559
3 years$79,060$76,820$74,664$72,587$70,587$66,985
4 years$58,704$56,471$54,336$52,295$50,343$46,866
5 years$46,494$44,274$42,167$40,167$38,270$34,928
6 years$38,356$36,153$34,077$32,122$30,282$27,078
7 years$32,546$30,361$28,318$26,409$24,627$21,563
8 years$28,190$26,025$24,016$22,154$20,431$17,506
9 years$24,804$22,660$20,685$18,870$17,206$14,419
10 years$22,097$19,973$18,034$16,267$14,660$12,008
11 years$19,884$17,781$15,877$14,157$12,608$10,089
12 years$18,040$15,959$14,090$12,417$10,926$8,537
13 years$16,482$14,423$12,589$10,963$9,528$7,264
14 years$15,147$13,110$11,311$9,731$8,352$6,211
15 years$13,991$11,976$10,212$8,679$7,354$5,331
16 years$12,981$10,988$9,259$7,771$6,499$4,591
17 years$12,091$10,119$8,425$6,982$5,763$3,965
18 years$11,300$9,351$7,691$6,292$5,124$3,432
19 years$10,593$8,666$7,041$5,686$4,567$2,977
20 years$9,958$8,053$6,462$5,149$4,079$2,587
21 years$9,384$7,501$5,944$4,673$3,651$2,251
22 years$8,863$7,002$5,478$4,249$3,272$1,961
23 years$8,388$6,549$5,058$3,870$2,937$1,710
24 years$7,953$6,136$4,678$3,530$2,640$1,493
25 years$7,554$5,758$4,332$3,223$2,376$1,305
26 years$7,186$5,412$4,018$2,947$2,140$1,141
27 years$6,846$5,093$3,731$2,698$1,929$998
28 years$6,530$4,799$3,469$2,472$1,741$874
29 years$6,237$4,527$3,228$2,267$1,572$765
30 years$5,964$4,276$3,007$2,080$1,420$670
31 years$5,709$4,042$2,803$1,910$1,284$588
32 years$5,471$3,824$2,615$1,756$1,162$515
33 years$5,247$3,622$2,442$1,615$1,051$452
34 years$5,037$3,433$2,282$1,486$952$396
35 years$4,840$3,256$2,133$1,368$862$348
36 years$4,654$3,090$1,995$1,259$781$305
37 years$4,478$2,935$1,868$1,160$708$268
38 years$4,312$2,789$1,749$1,070$642$235
39 years$4,155$2,652$1,639$986$582$206
40 years$4,006$2,524$1,536$910$528$181
41 years$3,865$2,402$1,440$839$479$159
42 years$3,730$2,288$1,351$775$435$140
43 years$3,603$2,180$1,268$715$394$123
44 years$3,481$2,078$1,190$660$358$108
45 years$3,366$1,981$1,117$610$325$95
46 years$3,255$1,890$1,049$563$295$83
47 years$3,150$1,804$986$520$268$73
48 years$3,049$1,722$926$481$243$64
49 years$2,953$1,644$871$444$221$56
50 years$2,861$1,571$819$411$201$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,930,000, adding $4,796 every year, while hoping to spend $59,756 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: 29/42/29 Blend
58$2,930,000$2,930,000$2,930,000$2,930,000
59$3,233,807$3,078,517$3,033,102$3,298,563
60$3,500,075$3,165,784$3,071,131$3,437,606
61$3,791,500$3,255,325$3,108,431$3,581,489
62$4,110,585$3,347,188$3,144,915$3,734,993
63$4,460,085$3,441,420$3,180,490$3,898,994
64$4,843,036$3,538,072$3,215,059$4,074,453
65$5,262,781$3,637,193$3,248,519$4,262,429
66$5,723,001$3,738,832$3,280,761$4,464,090
67$6,227,752$3,843,039$3,311,670$4,680,718
68$6,781,498$3,949,864$3,341,127$4,913,727
69$7,389,160$4,059,356$3,369,004$5,164,672
70$8,056,155$4,171,566$3,395,167$5,435,268
71$8,788,454$4,286,543$3,419,475$5,727,402
72$9,592,629$4,404,337$3,441,781$6,043,152
73$10,475,925$4,524,997$3,461,928$6,384,808
74$11,446,320$4,648,572$3,479,753$6,754,893
75$12,512,603$4,775,110$3,495,083$7,156,186
76$13,684,458$4,904,660$3,507,738$7,591,749
77$14,972,552$5,037,268$3,517,527$8,064,953
78$16,388,639$5,172,981$3,524,251$8,579,517
79$17,945,667$5,311,844$3,527,700$9,139,535
80$19,657,901$5,453,900$3,527,654$9,749,521
81$21,541,059$5,599,194$3,523,883$10,414,447
82$23,612,458$5,747,765$3,516,144$11,139,792
83$25,891,177$5,899,654$3,504,183$11,931,597
84$28,398,239$6,054,899$3,487,734$12,796,516
85$31,156,805$6,213,534$3,466,519$13,741,884
86$34,192,395$6,375,594$3,440,244$14,775,784
87$37,533,131$6,541,109$3,408,603$15,907,124
88$41,209,994$6,710,107$3,371,275$17,145,723
89$45,257,125$6,882,614$3,327,924$18,502,401
90$49,712,140$7,058,650$3,278,198$19,989,083
91$54,616,488$7,238,234$3,221,728$21,618,915
92$60,015,841$7,421,379$3,158,127$23,406,382
93$65,960,526$7,608,096$3,086,993$25,367,452
94$72,505,995$7,798,388$3,007,903$27,519,721
95$79,713,353$7,992,255$2,920,414$29,882,585
96$87,649,932$8,189,692$2,824,065$32,477,421
97$96,389,924$8,390,687$2,718,370$35,327,790
98$106,015,087$8,595,221$2,602,826$38,459,660
99$116,615,508$8,803,268$2,476,903$41,901,653
100$128,290,458$9,014,797$2,340,048$45,685,314