Can I retire at age 57 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%17.4%
1 years$48,722$48,288$47,864$47,451$47,047$45,633
2 years$24,120$23,670$23,235$22,813$22,404$20,990
3 years$15,920$15,469$15,035$14,616$14,214$12,846
4 years$11,821$11,371$10,941$10,530$10,137$8,826
5 years$9,362$8,915$8,491$8,088$7,706$6,454
6 years$7,724$7,280$6,862$6,468$6,098$4,907
7 years$6,554$6,114$5,702$5,318$4,959$3,829
8 years$5,677$5,241$4,836$4,461$4,114$3,044
9 years$4,995$4,563$4,165$3,800$3,465$2,453
10 years$4,450$4,022$3,631$3,276$2,952$1,998
11 years$4,004$3,580$3,197$2,851$2,539$1,641
12 years$3,633$3,214$2,837$2,500$2,200$1,356
13 years$3,319$2,904$2,535$2,208$1,919$1,127
14 years$3,050$2,640$2,278$1,960$1,682$940
15 years$2,817$2,412$2,056$1,748$1,481$787
16 years$2,614$2,213$1,864$1,565$1,309$660
17 years$2,435$2,038$1,697$1,406$1,160$556
18 years$2,275$1,883$1,549$1,267$1,032$468
19 years$2,133$1,745$1,418$1,145$920$396
20 years$2,005$1,622$1,301$1,037$821$334
21 years$1,890$1,510$1,197$941$735$283
22 years$1,785$1,410$1,103$856$659$240
23 years$1,689$1,319$1,018$779$591$203
24 years$1,602$1,236$942$711$532$173
25 years$1,521$1,159$872$649$478$147
26 years$1,447$1,090$809$593$431$125
27 years$1,378$1,026$751$543$389$106
28 years$1,315$966$698$498$351$90
29 years$1,256$912$650$456$317$76
30 years$1,201$861$605$419$286$65
31 years$1,150$814$564$385$259$55
32 years$1,102$770$527$354$234$47
33 years$1,057$729$492$325$212$40
34 years$1,014$691$459$299$192$34
35 years$975$656$430$275$174$29
36 years$937$622$402$254$157$25
37 years$902$591$376$234$143$21
38 years$868$562$352$215$129$18
39 years$837$534$330$199$117$15
40 years$807$508$309$183$106$13
41 years$778$484$290$169$96$11
42 years$751$461$272$156$88$9
43 years$725$439$255$144$79$8
44 years$701$418$240$133$72$7
45 years$678$399$225$123$65$6
46 years$655$381$211$113$59$5
47 years$634$363$199$105$54$4
48 years$614$347$187$97$49$4
49 years$595$331$175$89$45$3
50 years$576$316$165$83$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $590,000, adding $5,521 every year, while hoping to spend $45,391 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: 58/29/13 Blend
56$590,000$590,000$590,000$590,000
57$655,875$624,605$615,460$691,468
58$674,478$606,915$587,782$698,454
59$693,458$586,837$557,656$700,548
60$712,805$564,206$524,951$701,757
61$732,506$538,847$489,532$702,002
62$752,547$510,576$451,257$701,198
63$772,910$479,197$409,977$699,256
64$793,574$444,504$365,538$696,077
65$814,512$406,279$317,778$691,557
66$835,697$364,291$266,528$685,585
67$857,092$318,296$211,611$678,041
68$878,659$268,035$152,843$668,797
69$900,351$213,238$90,032$657,713
70$922,115$153,615$22,977$644,644
71$943,893$88,864$0$629,429
72$965,615$18,664$0$618,638
73$987,204$0$0$609,187
74$1,008,573$0$0$616,015
75$1,029,622$0$0$628,568
76$1,050,241$0$0$640,816
77$1,070,305$0$0$652,681
78$1,089,673$0$0$664,070
79$1,108,187$0$0$674,883
80$1,125,672$0$0$685,006
81$1,141,930$0$0$694,312
82$1,156,743$0$0$702,659
83$1,169,863$0$0$709,890
84$1,181,019$0$0$715,828
85$1,189,905$0$0$720,278
86$1,196,183$0$0$723,023
87$1,199,476$0$0$723,819
88$1,199,365$0$0$722,399
89$1,195,386$0$0$718,463
90$1,187,021$0$0$711,681
91$1,173,700$0$0$701,686
92$1,154,785$0$0$688,069
93$1,129,575$0$0$670,380
94$1,097,289$0$0$648,118
95$1,057,063$0$0$620,731
96$1,007,941$0$0$587,605
97$948,866$0$0$548,062
98$878,665$0$0$501,353
99$796,044$0$0$446,647
100$699,570$0$0$383,026