Can I retire at age 45 with 588,000?

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 $588,000?

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$48,556$48,124$47,702$47,290$46,888$46,515
2 years$24,038$23,590$23,156$22,736$22,328$21,951
3 years$15,866$15,416$14,984$14,567$14,166$13,798
4 years$11,781$11,333$10,904$10,495$10,103$9,747
5 years$9,331$8,885$8,462$8,061$7,680$7,336
6 years$7,697$7,255$6,839$6,446$6,077$5,746
7 years$6,531$6,093$5,683$5,300$4,942$4,625
8 years$5,657$5,223$4,820$4,446$4,100$3,796
9 years$4,978$4,547$4,151$3,787$3,453$3,161
10 years$4,434$4,008$3,619$3,264$2,942$2,663
11 years$3,990$3,568$3,186$2,841$2,530$2,264
12 years$3,620$3,203$2,828$2,492$2,193$1,939
13 years$3,308$2,894$2,526$2,200$1,912$1,671
14 years$3,040$2,631$2,270$1,953$1,676$1,447
15 years$2,808$2,403$2,049$1,742$1,476$1,258
16 years$2,605$2,205$1,858$1,559$1,304$1,098
17 years$2,426$2,031$1,691$1,401$1,156$961
18 years$2,268$1,877$1,543$1,263$1,028$843
19 years$2,126$1,739$1,413$1,141$917$741
20 years$1,998$1,616$1,297$1,033$819$653
21 years$1,883$1,505$1,193$938$733$576
22 years$1,779$1,405$1,099$853$657$509
23 years$1,683$1,314$1,015$777$589$451
24 years$1,596$1,231$939$708$530$399
25 years$1,516$1,156$869$647$477$354
26 years$1,442$1,086$806$591$429$314
27 years$1,374$1,022$749$541$387$279
28 years$1,311$963$696$496$349$248
29 years$1,252$909$648$455$315$221
30 years$1,197$858$603$417$285$197
31 years$1,146$811$563$383$258$175
32 years$1,098$768$525$352$233$156
33 years$1,053$727$490$324$211$139
34 years$1,011$689$458$298$191$124
35 years$971$653$428$274$173$110
36 years$934$620$400$253$157$98
37 years$899$589$375$233$142$88
38 years$865$560$351$215$129$78
39 years$834$532$329$198$117$70
40 years$804$506$308$183$106$62
41 years$776$482$289$168$96$56
42 years$749$459$271$155$87$50
43 years$723$437$254$143$79$44
44 years$699$417$239$132$72$40
45 years$675$398$224$122$65$35
46 years$653$379$211$113$59$32
47 years$632$362$198$104$54$28
48 years$612$346$186$96$49$25
49 years$593$330$175$89$44$23
50 years$574$315$164$82$40$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $588,000, adding $4,814 every year, while hoping to spend $31,057 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: 63/12/25 Blend
44$588,000$588,000$588,000$588,000
45$652,942$621,778$612,664$689,488
46$686,497$619,200$600,143$712,209
47$722,435$615,456$586,163$733,157
48$760,964$610,454$570,640$755,351
49$802,316$604,100$553,490$778,915
50$846,743$596,292$534,623$803,992
51$894,524$586,923$513,946$830,734
52$945,962$575,879$491,360$859,316
53$1,001,394$563,041$466,764$889,927
54$1,061,186$548,280$440,051$922,780
55$1,125,743$531,462$411,109$958,109
56$1,195,509$512,444$379,821$996,175
57$1,270,972$491,074$346,066$1,037,266
58$1,352,668$467,193$309,716$1,081,701
59$1,441,186$440,632$270,638$1,129,834
60$1,537,176$411,212$228,693$1,182,057
61$1,641,350$378,743$183,736$1,238,804
62$1,754,492$343,026$135,615$1,300,554
63$1,877,464$303,848$84,173$1,367,841
64$2,011,217$260,988$29,244$1,441,250
65$2,156,793$214,208$0$1,521,434
66$2,315,341$163,260$0$1,616,949
67$2,488,126$107,880$0$1,729,587
68$2,676,538$47,790$0$1,852,471
69$2,882,110$0$0$1,986,626
70$3,106,525$0$0$2,135,469
71$3,351,639$0$0$2,304,972
72$3,619,495$0$0$2,490,242
73$3,912,341$0$0$2,692,841
74$4,232,652$0$0$2,914,485
75$4,583,155$0$0$3,157,066
76$4,966,850$0$0$3,422,668
77$5,387,042$0$0$3,713,584
78$5,847,372$0$0$4,032,341
79$6,351,848$0$0$4,381,719
80$6,904,883$0$0$4,764,784
81$7,511,340$0$0$5,184,909
82$8,176,574$0$0$5,645,812
83$8,906,482$0$0$6,151,586
84$9,707,562$0$0$6,706,741
85$10,586,970$0$0$7,316,245
86$11,552,588$0$0$7,985,568
87$12,613,100$0$0$8,720,739
88$13,778,072$0$0$9,528,397
89$15,058,041$0$0$10,415,858
90$16,464,618$0$0$11,391,180
91$18,010,592$0$0$12,463,242
92$19,710,052$0$0$13,641,824
93$21,578,522$0$0$14,937,703
94$23,633,104$0$0$16,362,750
95$25,892,641$0$0$17,930,046
96$28,377,893$0$0$19,654,003
97$31,111,733$0$0$21,550,498
98$34,119,363$0$0$23,637,028
99$37,428,550$0$0$25,932,867
100$41,069,887$0$0$28,459,255