Can I retire at age 59 with 299,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $299,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$24,691$24,471$24,257$24,047$23,843$23,116
2 years$12,223$11,996$11,775$11,561$11,354$10,628
3 years$8,068$7,839$7,619$7,407$7,203$6,501
4 years$5,991$5,763$5,545$5,337$5,137$4,464
5 years$4,745$4,518$4,303$4,099$3,905$3,263
6 years$3,914$3,689$3,477$3,278$3,090$2,479
7 years$3,321$3,098$2,890$2,695$2,513$1,934
8 years$2,877$2,656$2,451$2,261$2,085$1,536
9 years$2,531$2,312$2,111$1,926$1,756$1,237
10 years$2,255$2,038$1,840$1,660$1,496$1,007
11 years$2,029$1,815$1,620$1,445$1,287$827
12 years$1,841$1,629$1,438$1,267$1,115$683
13 years$1,682$1,472$1,285$1,119$972$567
14 years$1,546$1,338$1,154$993$852$473
15 years$1,428$1,222$1,042$886$750$395
16 years$1,325$1,121$945$793$663$332
17 years$1,234$1,033$860$713$588$279
18 years$1,153$954$785$642$523$235
19 years$1,081$884$719$580$466$198
20 years$1,016$822$659$525$416$167
21 years$958$765$607$477$373$142
22 years$904$715$559$434$334$120
23 years$856$668$516$395$300$102
24 years$812$626$477$360$269$86
25 years$771$588$442$329$242$73
26 years$733$552$410$301$218$62
27 years$699$520$381$275$197$53
28 years$666$490$354$252$178$45
29 years$636$462$329$231$160$38
30 years$609$436$307$212$145$32
31 years$583$412$286$195$131$27
32 years$558$390$267$179$119$23
33 years$535$370$249$165$107$20
34 years$514$350$233$152$97$17
35 years$494$332$218$140$88$14
36 years$475$315$204$129$80$12
37 years$457$300$191$118$72$10
38 years$440$285$178$109$65$9
39 years$424$271$167$101$59$8
40 years$409$258$157$93$54$6
41 years$394$245$147$86$49$5
42 years$381$233$138$79$44$5
43 years$368$222$129$73$40$4
44 years$355$212$121$67$37$3
45 years$343$202$114$62$33$3
46 years$332$193$107$57$30$2
47 years$321$184$101$53$27$2
48 years$311$176$95$49$25$2
49 years$301$168$89$45$23$1
50 years$292$160$84$42$20$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $299,000, adding $4,488 every year, while hoping to spend $23,609 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: 54/18/28 Blend
58$299,000$299,000$299,000$299,000
59$334,127$318,280$313,646$349,354
60$343,089$308,756$299,033$350,840
61$352,173$297,974$283,140$349,668
62$361,367$285,848$265,898$347,920
63$370,657$272,285$247,236$345,549
64$380,027$257,190$227,081$342,505
65$389,456$240,458$205,355$338,736
66$398,923$221,983$181,977$334,184
67$408,403$201,650$156,862$328,788
68$417,866$179,337$129,924$322,483
69$427,281$154,917$101,068$315,198
70$436,610$128,254$70,200$306,859
71$445,811$99,206$37,219$297,385
72$454,838$67,621$2,020$286,689
73$463,638$33,341$0$274,677
74$472,151$0$0$271,869
75$480,310$0$0$269,627
76$488,043$0$0$273,718
77$495,264$0$0$277,489
78$501,881$0$0$280,883
79$507,790$0$0$283,840
80$512,876$0$0$286,289
81$517,009$0$0$288,152
82$520,046$0$0$289,345
83$521,827$0$0$289,771
84$522,175$0$0$289,324
85$520,893$0$0$287,887
86$517,762$0$0$285,328
87$512,539$0$0$281,502
88$504,956$0$0$276,249
89$494,713$0$0$269,391
90$481,480$0$0$260,729
91$464,892$0$0$250,045
92$444,542$0$0$237,097
93$419,981$0$0$221,617
94$390,714$0$0$203,309
95$356,189$0$0$181,844
96$315,801$0$0$156,861
97$268,876$0$0$127,958
98$214,671$0$0$94,693
99$152,367$0$0$56,576
100$81,056$0$0$13,066