Can I retire at age 59 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$243,608$241,438$239,321$237,255$235,237$228,624
2 years$120,598$118,352$116,175$114,065$112,018$105,405
3 years$79,600$77,344$75,173$73,082$71,069$64,664
4 years$59,105$56,856$54,707$52,652$50,687$44,539
5 years$46,811$44,576$42,455$40,442$38,531$32,658
6 years$38,618$36,400$34,310$32,341$30,488$24,895
7 years$32,768$30,568$28,512$26,590$24,795$19,481
8 years$28,383$26,203$24,180$22,305$20,570$15,533
9 years$24,974$22,814$20,826$18,999$17,323$12,557
10 years$22,248$20,110$18,157$16,378$14,760$10,260
11 years$20,019$17,902$15,985$14,253$12,694$8,452
12 years$18,163$16,068$14,186$12,502$11,000$7,009
13 years$16,594$14,521$12,674$11,038$9,593$5,842
14 years$15,250$13,199$11,388$9,798$8,409$4,891
15 years$14,087$12,058$10,282$8,738$7,404$4,108
16 years$13,070$11,063$9,322$7,824$6,544$3,461
17 years$12,173$10,188$8,483$7,030$5,802$2,923
18 years$11,377$9,414$7,744$6,335$5,159$2,473
19 years$10,666$8,725$7,089$5,724$4,598$2,096
20 years$10,026$8,108$6,506$5,185$4,107$1,779
21 years$9,448$7,552$5,984$4,705$3,675$1,512
22 years$8,924$7,050$5,515$4,278$3,295$1,286
23 years$8,445$6,593$5,092$3,896$2,957$1,095
24 years$8,008$6,178$4,710$3,554$2,658$933
25 years$7,606$5,797$4,362$3,245$2,392$795
26 years$7,235$5,449$4,046$2,967$2,155$678
27 years$6,892$5,128$3,757$2,716$1,943$579
28 years$6,575$4,832$3,492$2,489$1,753$494
29 years$6,280$4,558$3,250$2,282$1,583$422
30 years$6,005$4,305$3,027$2,094$1,430$360
31 years$5,748$4,070$2,822$1,923$1,293$308
32 years$5,508$3,851$2,633$1,768$1,170$263
33 years$5,283$3,647$2,459$1,626$1,058$225
34 years$5,072$3,456$2,297$1,496$958$192
35 years$4,873$3,278$2,148$1,377$868$164
36 years$4,685$3,111$2,009$1,268$786$140
37 years$4,508$2,955$1,880$1,168$713$120
38 years$4,341$2,808$1,761$1,077$646$103
39 years$4,183$2,671$1,650$993$586$88
40 years$4,033$2,541$1,546$916$531$75
41 years$3,891$2,419$1,450$845$482$64
42 years$3,756$2,303$1,360$780$438$55
43 years$3,627$2,195$1,276$720$397$47
44 years$3,505$2,092$1,198$665$360$40
45 years$3,388$1,995$1,125$614$327$34
46 years$3,277$1,903$1,057$567$297$29
47 years$3,171$1,816$993$524$270$25
48 years$3,070$1,734$933$484$245$21
49 years$2,973$1,656$877$447$223$18
50 years$2,880$1,581$824$414$202$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,950,000, adding $2,078 every year, while hoping to spend $36,611 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: 40/47/13 Blend
58$2,950,000$2,950,000$2,950,000$2,950,000
59$3,253,043$3,096,693$3,050,968$3,370,471
60$3,545,900$3,209,478$3,114,222$3,566,469
61$3,867,401$3,326,561$3,178,368$3,774,614
62$4,220,429$3,448,116$3,243,396$3,998,982
63$4,608,161$3,574,322$3,309,298$4,241,061
64$5,034,095$3,705,365$3,376,061$4,502,482
65$5,502,084$3,841,440$3,443,671$4,785,040
66$6,016,376$3,982,749$3,512,113$5,090,703
67$6,581,648$4,129,505$3,581,370$5,421,635
68$7,203,052$4,281,928$3,651,422$5,780,215
69$7,886,268$4,440,246$3,722,249$6,169,055
70$8,637,549$4,604,700$3,793,826$6,591,028
71$9,463,788$4,775,539$3,866,128$7,049,291
72$10,372,577$4,953,023$3,939,126$7,547,316
73$11,372,282$5,137,424$4,012,790$8,088,919
74$12,472,121$5,329,024$4,087,084$8,678,300
75$13,682,249$5,528,118$4,161,973$9,320,075
76$15,013,857$5,735,013$4,237,418$10,019,323
77$16,479,273$5,950,032$4,313,374$10,781,631
78$18,092,082$6,173,507$4,389,795$11,613,147
79$19,867,254$6,405,788$4,466,633$12,520,634
80$21,821,281$6,647,239$4,543,832$13,511,534
81$23,972,337$6,898,239$4,621,336$14,594,039
82$26,340,448$7,159,185$4,699,083$15,777,163
83$28,947,678$7,430,490$4,777,007$17,070,826
84$31,818,342$7,712,584$4,855,037$18,485,950
85$34,979,230$8,005,918$4,933,098$20,034,556
86$38,459,864$8,310,961$5,011,110$21,729,878
87$42,292,775$8,628,203$5,088,987$23,586,486
88$46,513,808$8,958,155$5,166,638$25,620,419
89$51,162,463$9,301,351$5,243,966$27,849,340
90$56,282,263$9,658,346$5,320,869$30,292,696
91$61,921,172$10,029,724$5,397,236$32,971,900
92$68,132,041$10,416,089$5,472,953$35,910,532
93$74,973,108$10,818,076$5,547,895$39,134,561
94$82,508,549$11,236,346$5,621,934$42,672,583
95$90,809,083$11,671,589$5,694,930$46,556,094
96$99,952,638$12,124,525$5,766,739$50,819,780
97$110,025,088$12,595,908$5,837,206$55,501,844
98$121,121,062$13,086,523$5,906,167$60,644,367
99$133,344,838$13,597,190$5,973,452$66,293,694
100$146,811,327$14,128,768$6,038,878$72,500,876