Can I retire at age 59 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$594,569$589,273$584,106$579,063$574,138$567,434
2 years$294,341$288,859$283,547$278,396$273,399$266,651
3 years$194,278$188,773$183,473$178,371$173,456$166,874
4 years$144,257$138,768$133,522$128,506$123,710$117,344
5 years$114,251$108,796$103,618$98,705$94,042$87,912
6 years$94,255$88,840$83,739$78,935$74,413$68,524
7 years$79,977$74,608$69,587$64,897$60,517$54,874
8 years$69,273$63,953$59,016$54,440$50,205$44,806
9 years$60,953$55,682$50,830$46,371$42,280$37,123
10 years$54,300$49,081$44,315$39,972$36,025$31,106
11 years$48,860$43,694$39,014$34,788$30,982$26,298
12 years$44,331$39,217$34,624$30,514$26,849$22,394
13 years$40,501$35,441$30,934$26,939$23,413$19,182
14 years$37,221$32,215$27,795$23,913$20,523$16,510
15 years$34,381$29,429$25,095$21,327$18,070$14,269
16 years$31,899$27,000$22,752$19,096$15,971$12,374
17 years$29,711$24,866$20,704$17,157$14,161$10,762
18 years$27,768$22,978$18,900$15,462$12,591$9,383
19 years$26,031$21,296$17,302$13,971$11,223$8,198
20 years$24,471$19,789$15,879$12,654$10,024$7,176
21 years$23,060$18,433$14,605$11,484$8,971$6,291
22 years$21,780$17,206$13,461$10,442$8,041$5,523
23 years$20,613$16,092$12,429$9,509$7,218$4,854
24 years$19,544$15,078$11,495$8,673$6,488$4,271
25 years$18,563$14,150$10,646$7,921$5,838$3,761
26 years$17,658$13,298$9,874$7,242$5,259$3,315
27 years$16,822$12,515$9,169$6,629$4,741$2,924
28 years$16,047$11,793$8,524$6,074$4,278$2,580
29 years$15,327$11,125$7,932$5,570$3,863$2,278
30 years$14,656$10,507$7,388$5,112$3,490$2,012
31 years$14,030$9,932$6,888$4,695$3,156$1,778
32 years$13,444$9,398$6,427$4,314$2,854$1,572
33 years$12,894$8,900$6,000$3,968$2,583$1,390
34 years$12,378$8,435$5,606$3,650$2,339$1,230
35 years$11,893$8,001$5,242$3,360$2,118$1,088
36 years$11,435$7,594$4,903$3,095$1,919$963
37 years$11,004$7,212$4,590$2,852$1,740$853
38 years$10,596$6,854$4,298$2,628$1,577$755
39 years$10,209$6,518$4,027$2,423$1,430$668
40 years$9,844$6,201$3,774$2,235$1,297$592
41 years$9,496$5,903$3,539$2,062$1,177$524
42 years$9,167$5,622$3,320$1,903$1,068$464
43 years$8,853$5,356$3,115$1,757$969$411
44 years$8,555$5,106$2,924$1,622$880$365
45 years$8,270$4,869$2,746$1,498$799$323
46 years$7,999$4,645$2,579$1,384$725$286
47 years$7,740$4,432$2,423$1,279$658$254
48 years$7,493$4,231$2,277$1,181$598$225
49 years$7,256$4,041$2,140$1,092$543$199
50 years$7,030$3,860$2,012$1,009$493$176

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $7,200,000, adding $2,453 every year, while hoping to spend $35,638 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: 68/8/24 Blend
58$7,200,000$7,200,000$7,200,000$7,200,000
59$7,936,930$7,555,330$7,443,730$8,427,798
60$8,708,579$7,887,623$7,655,177$9,089,663
61$9,557,741$8,235,003$7,872,512$9,809,149
62$10,492,285$8,598,174$8,095,896$10,595,444
63$11,520,882$8,977,868$8,325,493$11,455,150
64$12,653,085$9,374,857$8,561,470$12,395,532
65$13,899,421$9,789,946$8,804,000$13,424,587
66$15,271,488$10,223,979$9,053,260$14,551,124
67$16,782,068$10,677,842$9,309,432$15,784,837
68$18,445,242$11,152,459$9,572,702$17,136,406
69$20,276,529$11,648,803$9,843,260$18,617,586
70$22,293,029$12,167,888$10,121,302$20,241,326
71$24,513,583$12,710,779$10,407,031$22,021,884
72$26,958,953$13,278,592$10,700,651$23,974,964
73$29,652,018$13,872,495$11,002,375$26,117,860
74$32,617,988$14,493,711$11,312,419$28,469,620
75$35,884,643$15,143,524$11,631,005$31,051,225
76$39,482,595$15,823,275$11,958,362$33,885,784
77$43,445,577$16,534,372$12,294,724$36,998,749
78$47,810,758$17,278,289$12,640,330$40,418,160
79$52,619,101$18,056,570$12,995,427$44,174,901
80$57,915,742$18,870,835$13,360,266$48,302,995
81$63,750,419$19,722,777$13,735,106$52,839,919
82$70,177,942$20,614,173$14,120,213$57,826,962
83$77,258,709$21,546,885$14,515,857$63,309,607
84$85,059,277$22,522,862$14,922,318$69,337,961
85$93,652,989$23,544,148$15,339,881$75,967,228
86$103,120,665$24,612,883$15,768,839$83,258,224
87$113,551,370$25,731,311$16,209,491$91,277,952
88$125,043,247$26,901,782$16,662,146$100,100,232
89$137,704,448$28,126,760$17,127,119$109,806,393
90$151,654,157$29,408,826$17,604,732$120,486,044
91$167,023,707$30,750,684$18,095,316$132,237,909
92$183,957,827$32,155,170$18,599,212$145,170,766
93$202,616,005$33,625,253$19,116,765$159,404,464
94$223,173,993$35,164,046$19,648,332$175,071,053
95$245,825,467$36,774,811$20,194,278$192,316,033
96$270,783,855$38,460,967$20,754,977$211,299,716
97$298,284,351$40,226,097$21,330,811$232,198,744
98$328,586,134$42,073,955$21,922,173$255,207,748
99$361,974,818$44,008,477$22,529,464$280,541,185
100$398,765,144$46,033,787$23,153,096$308,435,359