Can I retire at age 55 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$48,722$48,288$47,864$47,451$47,047$46,692
2 years$24,120$23,670$23,235$22,813$22,404$22,045
3 years$15,920$15,469$15,035$14,616$14,214$13,864
4 years$11,821$11,371$10,941$10,530$10,137$9,798
5 years$9,362$8,915$8,491$8,088$7,706$7,379
6 years$7,724$7,280$6,862$6,468$6,098$5,783
7 years$6,554$6,114$5,702$5,318$4,959$4,657
8 years$5,677$5,241$4,836$4,461$4,114$3,824
9 years$4,995$4,563$4,165$3,800$3,465$3,187
10 years$4,450$4,022$3,631$3,276$2,952$2,687
11 years$4,004$3,580$3,197$2,851$2,539$2,285
12 years$3,633$3,214$2,837$2,500$2,200$1,958
13 years$3,319$2,904$2,535$2,208$1,919$1,688
14 years$3,050$2,640$2,278$1,960$1,682$1,463
15 years$2,817$2,412$2,056$1,748$1,481$1,273
16 years$2,614$2,213$1,864$1,565$1,309$1,111
17 years$2,435$2,038$1,697$1,406$1,160$973
18 years$2,275$1,883$1,549$1,267$1,032$855
19 years$2,133$1,745$1,418$1,145$920$752
20 years$2,005$1,622$1,301$1,037$821$663
21 years$1,890$1,510$1,197$941$735$586
22 years$1,785$1,410$1,103$856$659$518
23 years$1,689$1,319$1,018$779$591$459
24 years$1,602$1,236$942$711$532$407
25 years$1,521$1,159$872$649$478$361
26 years$1,447$1,090$809$593$431$321
27 years$1,378$1,026$751$543$389$285
28 years$1,315$966$698$498$351$254
29 years$1,256$912$650$456$317$226
30 years$1,201$861$605$419$286$201
31 years$1,150$814$564$385$259$179
32 years$1,102$770$527$354$234$160
33 years$1,057$729$492$325$212$142
34 years$1,014$691$459$299$192$127
35 years$975$656$430$275$174$113
36 years$937$622$402$254$157$101
37 years$902$591$376$234$143$90
38 years$868$562$352$215$129$81
39 years$837$534$330$199$117$72
40 years$807$508$309$183$106$64
41 years$778$484$290$169$96$57
42 years$751$461$272$156$88$51
43 years$725$439$255$144$79$46
44 years$701$418$240$133$72$41
45 years$678$399$225$123$65$37
46 years$655$381$211$113$59$33
47 years$634$363$199$105$54$29
48 years$614$347$187$97$49$26
49 years$595$331$175$89$45$23
50 years$576$316$165$83$40$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $590,000, adding $6,169 every year, while hoping to spend $20,511 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: 60/14/26 Blend
54$590,000$590,000$590,000$590,000
55$656,543$625,273$616,128$691,005
56$701,687$634,088$614,945$723,995
57$750,748$642,648$613,035$757,231
58$804,105$650,917$610,351$793,058
59$862,172$658,861$606,847$831,733
60$925,407$666,439$602,470$873,539
61$994,315$673,610$597,168$918,789
62$1,069,448$680,330$590,887$967,827
63$1,151,416$686,551$583,566$1,021,035
64$1,240,892$692,223$575,147$1,078,832
65$1,338,612$697,292$565,564$1,141,682
66$1,445,392$701,700$554,751$1,210,097
67$1,562,125$705,387$542,639$1,284,640
68$1,689,799$708,288$529,154$1,365,934
69$1,829,498$710,333$514,220$1,454,667
70$1,982,417$711,450$497,757$1,551,596
71$2,149,873$711,560$479,681$1,657,559
72$2,333,315$710,581$459,905$1,773,477
73$2,534,338$708,425$438,338$1,900,368
74$2,754,701$704,999$414,883$2,039,356
75$2,996,340$700,203$389,441$2,191,679
76$3,261,387$693,933$361,907$2,358,704
77$3,552,191$686,078$332,173$2,541,938
78$3,871,338$676,519$300,124$2,743,043
79$4,221,677$665,132$265,642$2,963,854
80$4,606,349$651,784$228,601$3,206,393
81$5,028,810$636,335$188,873$3,472,891
82$5,492,869$618,636$146,320$3,765,808
83$6,002,723$598,530$100,803$4,087,858
84$6,562,993$575,851$52,173$4,442,033
85$7,178,773$550,422$275$4,831,632
86$7,855,673$522,057$0$5,260,295
87$8,599,873$490,560$0$5,747,324
88$9,418,184$455,721$0$6,282,929
89$10,318,107$417,320$0$6,871,964
90$11,307,910$375,125$0$7,519,857
91$12,396,700$328,889$0$8,232,596
92$13,594,511$278,352$0$9,016,776
93$14,912,399$223,239$0$9,879,667
94$16,362,545$163,259$0$10,829,279
95$17,958,373$98,107$0$11,874,444
96$19,714,671$27,458$0$13,024,890
97$21,647,735$0$0$14,291,342
98$23,775,519$0$0$15,693,172
99$26,117,808$0$0$17,241,037
100$28,696,402$0$0$18,945,120