Can I retire at age 50 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%17.8%
1 years$48,556$48,124$47,702$47,290$46,888$45,405
2 years$24,038$23,590$23,156$22,736$22,328$20,847
3 years$15,866$15,416$14,984$14,567$14,166$12,734
4 years$11,781$11,333$10,904$10,495$10,103$8,731
5 years$9,331$8,885$8,462$8,061$7,680$6,372
6 years$7,697$7,255$6,839$6,446$6,077$4,833
7 years$6,531$6,093$5,683$5,300$4,942$3,763
8 years$5,657$5,223$4,820$4,446$4,100$2,984
9 years$4,978$4,547$4,151$3,787$3,453$2,400
10 years$4,434$4,008$3,619$3,264$2,942$1,949
11 years$3,990$3,568$3,186$2,841$2,530$1,597
12 years$3,620$3,203$2,828$2,492$2,193$1,316
13 years$3,308$2,894$2,526$2,200$1,912$1,090
14 years$3,040$2,631$2,270$1,953$1,676$907
15 years$2,808$2,403$2,049$1,742$1,476$757
16 years$2,605$2,205$1,858$1,559$1,304$634
17 years$2,426$2,031$1,691$1,401$1,156$532
18 years$2,268$1,877$1,543$1,263$1,028$447
19 years$2,126$1,739$1,413$1,141$917$376
20 years$1,998$1,616$1,297$1,033$819$317
21 years$1,883$1,505$1,193$938$733$268
22 years$1,779$1,405$1,099$853$657$226
23 years$1,683$1,314$1,015$777$589$191
24 years$1,596$1,231$939$708$530$162
25 years$1,516$1,156$869$647$477$137
26 years$1,442$1,086$806$591$429$116
27 years$1,374$1,022$749$541$387$98
28 years$1,311$963$696$496$349$83
29 years$1,252$909$648$455$315$70
30 years$1,197$858$603$417$285$60
31 years$1,146$811$563$383$258$51
32 years$1,098$768$525$352$233$43
33 years$1,053$727$490$324$211$36
34 years$1,011$689$458$298$191$31
35 years$971$653$428$274$173$26
36 years$934$620$400$253$157$22
37 years$899$589$375$233$142$19
38 years$865$560$351$215$129$16
39 years$834$532$329$198$117$14
40 years$804$506$308$183$106$12
41 years$776$482$289$168$96$10
42 years$749$459$271$155$87$8
43 years$723$437$254$143$79$7
44 years$699$417$239$132$72$6
45 years$675$398$224$122$65$5
46 years$653$379$211$113$59$4
47 years$632$362$198$104$54$4
48 years$612$346$186$96$49$3
49 years$593$330$175$89$44$3
50 years$574$315$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $588,000, adding $5,731 every year, while hoping to spend $34,673 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: 51/27/22 Blend
49$588,000$588,000$588,000$588,000
50$653,888$622,724$613,610$682,959
51$683,692$616,345$597,274$697,297
52$715,375$608,492$579,228$708,861
53$749,091$599,056$559,380$720,711
54$785,009$587,920$537,630$732,889
55$823,315$574,964$513,876$745,440
56$864,213$560,057$488,011$758,418
57$907,926$543,063$459,922$771,884
58$954,698$523,836$429,493$785,908
59$1,004,796$502,224$396,600$800,569
60$1,058,515$478,062$361,116$815,957
61$1,116,178$451,181$322,908$832,175
62$1,178,137$421,398$281,834$849,338
63$1,244,781$388,521$237,750$867,577
64$1,316,538$352,347$190,503$887,040
65$1,393,874$312,662$139,934$907,893
66$1,477,304$269,237$85,877$930,322
67$1,567,394$221,835$28,159$954,540
68$1,664,764$170,201$0$980,781
69$1,770,098$114,068$0$1,017,161
70$1,884,144$53,154$0$1,063,690
71$2,007,728$0$0$1,114,131
72$2,141,757$0$0$1,172,719
73$2,287,228$0$0$1,253,500
74$2,445,238$0$0$1,341,298
75$2,616,993$0$0$1,436,789
76$2,803,821$0$0$1,540,719
77$3,007,182$0$0$1,653,907
78$3,228,684$0$0$1,777,255
79$3,470,093$0$0$1,911,756
80$3,733,357$0$0$2,058,503
81$4,020,618$0$0$2,218,698
82$4,334,232$0$0$2,393,665
83$4,676,796$0$0$2,584,862
84$5,051,166$0$0$2,793,892
85$5,460,488$0$0$3,022,523
86$5,908,225$0$0$3,272,699
87$6,398,190$0$0$3,546,562
88$6,934,583$0$0$3,846,471
89$7,522,026$0$0$4,175,023
90$8,165,613$0$0$4,535,077
91$8,870,950$0$0$4,929,785
92$9,644,213$0$0$5,362,614
93$10,492,205$0$0$5,837,387
94$11,422,417$0$0$6,358,312
95$12,443,100$0$0$6,930,026
96$13,563,345$0$0$7,557,633
97$14,793,162$0$0$8,246,760
98$16,143,582$0$0$9,003,603
99$17,626,751$0$0$9,834,988
100$19,256,055$0$0$10,748,433