Can I retire at age 59 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$244,434$242,257$240,132$238,059$236,035$234,155
2 years$121,007$118,753$116,569$114,451$112,397$110,502
3 years$79,870$77,607$75,428$73,330$71,310$69,458
4 years$59,306$57,049$54,892$52,830$50,859$49,065
5 years$46,970$44,727$42,599$40,579$38,662$36,932
6 years$38,749$36,523$34,426$32,451$30,592$28,927
7 years$32,879$30,672$28,608$26,680$24,879$23,280
8 years$28,479$26,292$24,262$22,381$20,640$19,107
9 years$25,058$22,892$20,897$19,064$17,382$15,915
10 years$22,323$20,178$18,218$16,433$14,810$13,408
11 years$20,087$17,963$16,039$14,302$12,737$11,399
12 years$18,225$16,123$14,234$12,545$11,038$9,762
13 years$16,650$14,570$12,717$11,075$9,625$8,410
14 years$15,302$13,244$11,427$9,831$8,437$7,282
15 years$14,135$12,099$10,317$8,768$7,429$6,332
16 years$13,114$11,100$9,354$7,850$6,566$5,525
17 years$12,214$10,223$8,511$7,054$5,822$4,835
18 years$11,416$9,446$7,770$6,357$5,176$4,243
19 years$10,702$8,755$7,113$5,744$4,614$3,731
20 years$10,060$8,135$6,528$5,202$4,121$3,288
21 years$9,480$7,578$6,004$4,721$3,688$2,902
22 years$8,954$7,074$5,534$4,293$3,306$2,565
23 years$8,474$6,616$5,110$3,909$2,967$2,270
24 years$8,035$6,199$4,726$3,566$2,667$2,011
25 years$7,631$5,817$4,377$3,256$2,400$1,783
26 years$7,260$5,467$4,059$2,977$2,162$1,583
27 years$6,916$5,145$3,769$2,725$1,949$1,406
28 years$6,597$4,848$3,504$2,497$1,759$1,250
29 years$6,301$4,574$3,261$2,290$1,588$1,112
30 years$6,025$4,319$3,037$2,101$1,435$989
31 years$5,768$4,083$2,832$1,930$1,297$881
32 years$5,527$3,864$2,642$1,774$1,173$784
33 years$5,301$3,659$2,467$1,631$1,062$699
34 years$5,089$3,468$2,305$1,501$962$623
35 years$4,889$3,289$2,155$1,382$871$555
36 years$4,701$3,122$2,016$1,272$789$495
37 years$4,524$2,965$1,887$1,172$715$442
38 years$4,356$2,818$1,767$1,081$648$394
39 years$4,197$2,680$1,655$996$588$352
40 years$4,047$2,549$1,552$919$533$314
41 years$3,904$2,427$1,455$848$484$280
42 years$3,769$2,311$1,365$782$439$250
43 years$3,640$2,202$1,281$722$398$223
44 years$3,517$2,099$1,202$667$362$199
45 years$3,400$2,002$1,129$616$328$178
46 years$3,288$1,909$1,060$569$298$159
47 years$3,182$1,822$996$526$271$142
48 years$3,080$1,740$936$486$246$127
49 years$2,983$1,661$880$449$223$113
50 years$2,890$1,587$827$415$203$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $2,960,000, adding $6,124 every year, while hoping to spend $47,066 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: 52/28/20 Blend
58$2,960,000$2,960,000$2,960,000$2,960,000
59$3,268,237$3,111,357$3,065,477$3,419,868
60$3,551,519$3,213,736$3,118,093$3,627,289
61$3,862,119$3,319,553$3,170,893$3,847,386
62$4,202,773$3,428,929$3,223,836$4,085,783
63$4,576,494$3,541,986$3,276,873$4,344,234
64$4,986,605$3,658,851$3,329,957$4,624,668
65$5,436,761$3,779,657$3,383,032$4,929,211
66$5,930,990$3,904,540$3,436,044$5,260,197
67$6,473,731$4,033,642$3,488,931$5,620,201
68$7,069,872$4,167,111$3,541,630$6,012,053
69$7,724,797$4,305,097$3,594,073$6,438,869
70$8,444,439$4,447,760$3,646,188$6,904,081
71$9,235,334$4,595,262$3,697,897$7,411,466
72$10,104,681$4,747,773$3,749,120$7,965,183
73$11,060,413$4,905,469$3,799,770$8,569,811
74$12,111,269$5,068,530$3,849,756$9,230,394
75$13,266,877$5,237,147$3,898,981$9,952,483
76$14,537,845$5,411,514$3,947,344$10,742,195
77$15,935,861$5,591,834$3,994,735$11,606,264
78$17,473,802$5,778,317$4,041,042$12,552,107
79$19,165,856$5,971,180$4,086,143$13,587,895
80$21,027,656$6,170,651$4,129,912$14,722,625
81$23,076,426$6,376,962$4,172,213$15,966,209
82$25,331,146$6,590,357$4,212,906$17,329,565
83$27,812,726$6,811,088$4,251,842$18,824,720
84$30,544,207$7,039,415$4,288,862$20,464,921
85$33,550,980$7,275,609$4,323,802$22,264,763
86$36,861,018$7,519,952$4,356,488$24,240,323
87$40,505,146$7,772,735$4,386,735$26,409,314
88$44,517,332$8,034,259$4,414,351$28,791,248
89$48,935,001$8,304,839$4,439,133$31,407,622
90$53,799,395$8,584,800$4,460,868$34,282,122
91$59,155,957$8,874,479$4,479,331$37,440,841
92$65,054,763$9,174,227$4,494,286$40,912,529
93$71,550,991$9,484,407$4,505,488$44,728,861
94$78,705,445$9,805,395$4,512,674$48,924,738
95$86,585,125$10,137,584$4,515,573$53,538,613
96$95,263,862$10,481,380$4,513,899$58,612,853
97$104,823,012$10,837,204$4,507,351$64,194,141
98$115,352,226$11,205,493$4,495,614$70,333,915
99$126,950,293$11,586,703$4,478,357$77,088,850
100$139,726,076$11,981,305$4,455,235$84,521,396