Can I retire at age 30 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$48,639$48,206$47,783$47,371$46,968$45,373
2 years$24,079$23,630$23,196$22,774$22,366$20,775
3 years$15,893$15,443$15,009$14,592$14,190$12,653
4 years$11,801$11,352$10,923$10,513$10,120$8,650
5 years$9,346$8,900$8,477$8,075$7,693$6,292
6 years$7,711$7,268$6,850$6,457$6,087$4,757
7 years$6,543$6,103$5,693$5,309$4,951$3,691
8 years$5,667$5,232$4,828$4,454$4,107$2,917
9 years$4,986$4,555$4,158$3,793$3,459$2,337
10 years$4,442$4,015$3,625$3,270$2,947$1,891
11 years$3,997$3,574$3,192$2,846$2,535$1,543
12 years$3,627$3,208$2,832$2,496$2,196$1,267
13 years$3,313$2,899$2,531$2,204$1,915$1,045
14 years$3,045$2,635$2,274$1,956$1,679$866
15 years$2,813$2,407$2,053$1,745$1,478$720
16 years$2,609$2,209$1,861$1,562$1,306$600
17 years$2,430$2,034$1,694$1,404$1,158$501
18 years$2,272$1,880$1,546$1,265$1,030$419
19 years$2,130$1,742$1,415$1,143$918$351
20 years$2,002$1,619$1,299$1,035$820$295
21 years$1,886$1,508$1,195$939$734$248
22 years$1,782$1,408$1,101$854$658$208
23 years$1,686$1,316$1,017$778$590$175
24 years$1,599$1,233$940$710$531$147
25 years$1,519$1,158$871$648$478$124
26 years$1,445$1,088$808$592$430$105
27 years$1,376$1,024$750$542$388$88
28 years$1,313$965$697$497$350$74
29 years$1,254$910$649$456$316$63
30 years$1,199$860$604$418$286$53
31 years$1,148$813$563$384$258$45
32 years$1,100$769$526$353$234$38
33 years$1,055$728$491$325$211$32
34 years$1,013$690$459$299$191$27
35 years$973$655$429$275$173$23
36 years$935$621$401$253$157$19
37 years$900$590$375$233$142$16
38 years$867$561$352$215$129$14
39 years$835$533$329$198$117$12
40 years$805$507$309$183$106$10
41 years$777$483$290$169$96$8
42 years$750$460$272$156$87$7
43 years$724$438$255$144$79$6
44 years$700$418$239$133$72$5
45 years$677$398$225$123$65$4
46 years$654$380$211$113$59$4
47 years$633$363$198$105$54$3
48 years$613$346$186$97$49$3
49 years$594$331$175$89$44$2
50 years$575$316$165$83$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 30 starting with $589,000, adding $2,456 every year, while hoping to spend $31,514 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: 55/33/12 Blend
29$589,000$589,000$589,000$589,000
30$651,611$620,394$611,265$685,319
31$684,545$617,263$598,212$705,329
32$719,782$612,922$583,665$723,460
33$757,523$607,279$567,541$742,465
34$797,990$600,235$549,754$762,433
35$841,426$591,688$530,211$783,466
36$888,096$581,525$508,818$805,673
37$938,294$569,631$485,475$829,179
38$992,339$555,883$460,078$854,124
39$1,050,585$540,148$432,517$880,662
40$1,113,418$522,288$402,680$908,965
41$1,181,263$502,158$370,447$939,227
42$1,254,589$479,600$335,694$971,660
43$1,333,908$454,452$298,290$1,006,505
44$1,419,785$426,539$258,102$1,044,025
45$1,512,841$395,677$214,986$1,084,516
46$1,613,759$361,673$168,796$1,128,307
47$1,723,288$324,320$119,376$1,175,761
48$1,842,254$283,403$66,566$1,227,285
49$1,971,565$238,691$10,197$1,283,328
50$2,112,220$189,942$0$1,344,391
51$2,265,318$136,900$0$1,417,424
52$2,432,068$79,296$0$1,498,456
53$2,613,800$16,843$0$1,586,889
54$2,811,980$0$0$1,683,503
55$3,028,218$0$0$1,807,600
56$3,264,289$0$0$1,949,807
57$3,522,147$0$0$2,105,191
58$3,803,940$0$0$2,275,054
59$4,112,035$0$0$2,460,829
60$4,449,040$0$0$2,664,096
61$4,817,822$0$0$2,886,593
62$5,221,542$0$0$3,130,233
63$5,663,679$0$0$3,397,124
64$6,148,065$0$0$3,689,587
65$6,678,919$0$0$4,010,180
66$7,260,887$0$0$4,361,717
67$7,899,090$0$0$4,747,300
68$8,599,163$0$0$5,170,343
69$9,367,316$0$0$5,634,610
70$10,210,389$0$0$6,144,245
71$11,135,914$0$0$6,703,811
72$12,152,191$0$0$7,318,338
73$13,268,362$0$0$7,993,365
74$14,494,496$0$0$8,734,995
75$15,841,688$0$0$9,549,949
76$17,322,160$0$0$10,445,634
77$18,949,374$0$0$11,430,210
78$20,738,166$0$0$12,512,664
79$22,704,878$0$0$13,702,900
80$24,867,513$0$0$15,011,830
81$27,245,910$0$0$16,451,474
82$29,861,923$0$0$18,035,079
83$32,739,633$0$0$19,777,235
84$35,905,571$0$0$21,694,023
85$39,388,969$0$0$23,803,158
86$43,222,036$0$0$26,124,159
87$47,440,261$0$0$28,678,535
88$52,082,747$0$0$31,489,982
89$57,192,578$0$0$34,584,614
90$62,817,231$0$0$37,991,202
91$69,009,015$0$0$41,741,449
92$75,825,570$0$0$45,870,288
93$83,330,409$0$0$50,416,212
94$91,593,517$0$0$55,421,636
95$100,692,009$0$0$60,933,297
96$110,710,859$0$0$67,002,694
97$121,743,703$0$0$73,686,577
98$133,893,718$0$0$81,047,479
99$147,274,597$0$0$89,154,306
100$162,011,623$0$0$98,082,990