Can I retire at age 30 with 589,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.9%
1 years$48,639$48,206$47,783$47,371$46,968$45,647
2 years$24,079$23,630$23,196$22,774$22,366$21,045
3 years$15,893$15,443$15,009$14,592$14,190$12,911
4 years$11,801$11,352$10,923$10,513$10,120$8,893
5 years$9,346$8,900$8,477$8,075$7,693$6,521
6 years$7,711$7,268$6,850$6,457$6,087$4,970
7 years$6,543$6,103$5,693$5,309$4,951$3,890
8 years$5,667$5,232$4,828$4,454$4,107$3,101
9 years$4,986$4,555$4,158$3,793$3,459$2,507
10 years$4,442$4,015$3,625$3,270$2,947$2,048
11 years$3,997$3,574$3,192$2,846$2,535$1,688
12 years$3,627$3,208$2,832$2,496$2,196$1,399
13 years$3,313$2,899$2,531$2,204$1,915$1,166
14 years$3,045$2,635$2,274$1,956$1,679$976
15 years$2,813$2,407$2,053$1,745$1,478$820
16 years$2,609$2,209$1,861$1,562$1,306$691
17 years$2,430$2,034$1,694$1,404$1,158$584
18 years$2,272$1,880$1,546$1,265$1,030$494
19 years$2,130$1,742$1,415$1,143$918$419
20 years$2,002$1,619$1,299$1,035$820$355
21 years$1,886$1,508$1,195$939$734$302
22 years$1,782$1,408$1,101$854$658$257
23 years$1,686$1,316$1,017$778$590$219
24 years$1,599$1,233$940$710$531$186
25 years$1,519$1,158$871$648$478$159
26 years$1,445$1,088$808$592$430$135
27 years$1,376$1,024$750$542$388$116
28 years$1,313$965$697$497$350$99
29 years$1,254$910$649$456$316$84
30 years$1,199$860$604$418$286$72
31 years$1,148$813$563$384$258$61
32 years$1,100$769$526$353$234$53
33 years$1,055$728$491$325$211$45
34 years$1,013$690$459$299$191$38
35 years$973$655$429$275$173$33
36 years$935$621$401$253$157$28
37 years$900$590$375$233$142$24
38 years$867$561$352$215$129$20
39 years$835$533$329$198$117$18
40 years$805$507$309$183$106$15
41 years$777$483$290$169$96$13
42 years$750$460$272$156$87$11
43 years$724$438$255$144$79$9
44 years$700$418$239$133$72$8
45 years$677$398$225$123$65$7
46 years$654$380$211$113$59$6
47 years$633$363$198$105$54$5
48 years$613$346$186$97$49$4
49 years$594$331$175$89$44$4
50 years$575$316$165$83$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 30 starting with $589,000, adding $6,562 every year, while hoping to spend $20,633 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: 40/37/23 Blend
29$589,000$589,000$589,000$589,000
30$655,847$624,630$615,500$677,391
31$700,790$633,283$614,166$702,158
32$749,625$641,669$612,096$726,493
33$802,729$649,753$609,243$752,408
34$860,513$657,497$605,558$780,058
35$923,433$664,861$600,992$809,617
36$991,987$671,803$595,489$841,274
37$1,066,726$678,279$588,995$875,242
38$1,148,256$684,238$581,450$911,756
39$1,237,243$689,630$572,793$951,073
40$1,334,420$694,400$562,960$993,482
41$1,440,595$698,490$551,883$1,039,299
42$1,556,656$701,837$539,492$1,088,876
43$1,683,584$704,375$525,713$1,142,600
44$1,822,454$706,035$510,470$1,200,902
45$1,974,455$706,740$493,681$1,264,255
46$2,140,892$706,413$475,261$1,333,187
47$2,323,204$704,969$455,124$1,408,276
48$2,522,977$702,318$433,176$1,490,165
49$2,741,954$698,366$409,322$1,579,564
50$2,982,059$693,011$383,459$1,677,257
51$3,245,408$686,147$355,484$1,784,111
52$3,534,332$677,661$325,286$1,901,082
53$3,851,401$667,433$292,749$2,029,231
54$4,199,442$655,336$257,755$2,169,725
55$4,581,573$641,235$220,177$2,323,856
56$5,001,224$624,987$179,884$2,493,052
57$5,462,179$606,441$136,740$2,678,887
58$5,968,603$585,438$90,602$2,883,102
59$6,525,083$561,808$41,321$3,107,619
60$7,136,677$535,372$0$3,354,561
61$7,808,954$505,940$0$3,629,035
62$8,548,050$473,314$0$3,941,865
63$9,360,724$437,279$0$4,285,797
64$10,254,426$397,614$0$4,664,026
65$11,237,361$354,080$0$5,080,078
66$12,318,570$306,429$0$5,537,840
67$13,508,015$254,395$0$6,041,601
68$14,816,671$197,699$0$6,596,090
69$16,256,632$136,046$0$7,206,523
70$17,841,221$69,126$0$7,878,652
71$19,585,121$0$0$8,618,820
72$21,504,507$0$0$9,435,404
73$23,617,205$0$0$10,365,302
74$25,942,853$0$0$11,389,025
75$28,503,094$0$0$12,516,111
76$31,321,772$0$0$13,757,071
77$34,425,164$0$0$15,123,485
78$37,842,221$0$0$16,628,113
79$41,604,847$0$0$18,285,018
80$45,748,197$0$0$20,109,693
81$50,311,008$0$0$22,119,212
82$55,335,965$0$0$24,332,390
83$60,870,105$0$0$26,769,958
84$66,965,258$0$0$29,454,762
85$73,678,538$0$0$32,411,975
86$81,072,882$0$0$35,669,337
87$89,217,641$0$0$39,257,418
88$98,189,239$0$0$43,209,902
89$108,071,888$0$0$47,563,909
90$118,958,389$0$0$52,360,342
91$130,951,004$0$0$57,644,276
92$144,162,418$0$0$63,465,382
93$158,716,812$0$0$69,878,394
94$174,751,022$0$0$76,943,628
95$192,415,843$0$0$84,727,553
96$211,877,443$0$0$93,303,411
97$233,318,934$0$0$102,751,917
98$256,942,101$0$0$113,162,015
99$282,969,308$0$0$124,631,719
100$311,645,592$0$0$137,269,038