Can I retire at age 45 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%16.4%
1 years$48,639$48,206$47,783$47,371$46,968$45,739
2 years$24,079$23,630$23,196$22,774$22,366$21,137
3 years$15,893$15,443$15,009$14,592$14,190$12,998
4 years$11,801$11,352$10,923$10,513$10,120$8,976
5 years$9,346$8,900$8,477$8,075$7,693$6,599
6 years$7,711$7,268$6,850$6,457$6,087$5,044
7 years$6,543$6,103$5,693$5,309$4,951$3,958
8 years$5,667$5,232$4,828$4,454$4,107$3,165
9 years$4,986$4,555$4,158$3,793$3,459$2,567
10 years$4,442$4,015$3,625$3,270$2,947$2,104
11 years$3,997$3,574$3,192$2,846$2,535$1,739
12 years$3,627$3,208$2,832$2,496$2,196$1,446
13 years$3,313$2,899$2,531$2,204$1,915$1,210
14 years$3,045$2,635$2,274$1,956$1,679$1,016
15 years$2,813$2,407$2,053$1,745$1,478$857
16 years$2,609$2,209$1,861$1,562$1,306$724
17 years$2,430$2,034$1,694$1,404$1,158$614
18 years$2,272$1,880$1,546$1,265$1,030$521
19 years$2,130$1,742$1,415$1,143$918$444
20 years$2,002$1,619$1,299$1,035$820$378
21 years$1,886$1,508$1,195$939$734$322
22 years$1,782$1,408$1,101$854$658$275
23 years$1,686$1,316$1,017$778$590$235
24 years$1,599$1,233$940$710$531$201
25 years$1,519$1,158$871$648$478$172
26 years$1,445$1,088$808$592$430$148
27 years$1,376$1,024$750$542$388$126
28 years$1,313$965$697$497$350$108
29 years$1,254$910$649$456$316$93
30 years$1,199$860$604$418$286$80
31 years$1,148$813$563$384$258$68
32 years$1,100$769$526$353$234$59
33 years$1,055$728$491$325$211$50
34 years$1,013$690$459$299$191$43
35 years$973$655$429$275$173$37
36 years$935$621$401$253$157$32
37 years$900$590$375$233$142$27
38 years$867$561$352$215$129$23
39 years$835$533$329$198$117$20
40 years$805$507$309$183$106$17
41 years$777$483$290$169$96$15
42 years$750$460$272$156$87$13
43 years$724$438$255$144$79$11
44 years$700$418$239$133$72$9
45 years$677$398$225$123$65$8
46 years$654$380$211$113$59$7
47 years$633$363$198$105$54$6
48 years$613$346$186$97$49$5
49 years$594$331$175$89$44$4
50 years$575$316$165$83$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $589,000, adding $3,408 every year, while hoping to spend $40,472 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: 54/34/12 Blend
44$589,000$589,000$589,000$589,000
45$652,593$621,376$612,247$685,630
46$676,096$608,762$589,695$695,849
47$700,639$594,173$565,032$702,295
48$726,287$577,470$538,143$708,371
49$753,108$558,505$508,910$714,051
50$781,175$537,122$477,209$719,308
51$810,570$513,156$442,910$724,116
52$841,379$486,432$405,879$728,445
53$873,697$456,764$365,972$732,270
54$907,625$423,957$323,044$735,563
55$943,276$387,804$276,940$738,298
56$980,771$348,087$227,497$740,449
57$1,020,240$304,573$174,549$741,990
58$1,061,827$257,020$117,918$742,898
59$1,105,687$205,168$57,423$743,152
60$1,151,992$148,746$0$742,731
61$1,200,926$87,465$0$742,533
62$1,252,690$21,021$0$749,535
63$1,307,507$0$0$756,394
64$1,365,617$0$0$782,179
65$1,427,284$0$0$817,916
66$1,492,796$0$0$855,910
67$1,562,467$0$0$896,349
68$1,636,643$0$0$939,436
69$1,715,702$0$0$985,396
70$1,800,056$0$0$1,034,472
71$1,890,159$0$0$1,086,935
72$1,986,507$0$0$1,143,077
73$2,089,645$0$0$1,203,222
74$2,200,169$0$0$1,267,724
75$2,318,734$0$0$1,336,970
76$2,446,058$0$0$1,411,388
77$2,582,929$0$0$1,491,445
78$2,730,214$0$0$1,577,655
79$2,888,863$0$0$1,670,582
80$3,059,919$0$0$1,770,845
81$3,244,529$0$0$1,879,126
82$3,443,952$0$0$1,996,173
83$3,659,575$0$0$2,122,808
84$3,892,917$0$0$2,259,935
85$4,145,652$0$0$2,408,548
86$4,419,620$0$0$2,569,739
87$4,716,842$0$0$2,744,711
88$5,039,544$0$0$2,934,785
89$5,390,170$0$0$3,141,416
90$5,771,413$0$0$3,366,202
91$6,186,234$0$0$3,610,903
92$6,637,890$0$0$3,877,457
93$7,129,965$0$0$4,167,994
94$7,666,405$0$0$4,484,859
95$8,251,550$0$0$4,830,633
96$8,890,181$0$0$5,208,159
97$9,587,557$0$0$5,620,564
98$10,349,468$0$0$6,071,291
99$11,182,290$0$0$6,564,131
100$12,093,040$0$0$7,103,258