Can I retire at age 59 with 423,000?

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 $423,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$34,931$34,620$34,316$34,020$33,731$33,560
2 years$17,293$16,970$16,658$16,356$16,062$15,890
3 years$11,414$11,090$10,779$10,479$10,191$10,022
4 years$8,475$8,153$7,844$7,550$7,268$7,105
5 years$6,712$6,392$6,088$5,799$5,525$5,367
6 years$5,537$5,219$4,920$4,637$4,372$4,220
7 years$4,699$4,383$4,088$3,813$3,555$3,409
8 years$4,070$3,757$3,467$3,198$2,950$2,809
9 years$3,581$3,271$2,986$2,724$2,484$2,349
10 years$3,190$2,884$2,604$2,348$2,116$1,988
11 years$2,871$2,567$2,292$2,044$1,820$1,697
12 years$2,604$2,304$2,034$1,793$1,577$1,460
13 years$2,379$2,082$1,817$1,583$1,375$1,263
14 years$2,187$1,893$1,633$1,405$1,206$1,099
15 years$2,020$1,729$1,474$1,253$1,062$960
16 years$1,874$1,586$1,337$1,122$938$842
17 years$1,745$1,461$1,216$1,008$832$740
18 years$1,631$1,350$1,110$908$740$653
19 years$1,529$1,251$1,016$821$659$577
20 years$1,438$1,163$933$743$589$511
21 years$1,355$1,083$858$675$527$453
22 years$1,280$1,011$791$613$472$403
23 years$1,211$945$730$559$424$358
24 years$1,148$886$675$510$381$319
25 years$1,091$831$625$465$343$285
26 years$1,037$781$580$425$309$254
27 years$988$735$539$389$279$227
28 years$943$693$501$357$251$203
29 years$900$654$466$327$227$181
30 years$861$617$434$300$205$162
31 years$824$584$405$276$185$145
32 years$790$552$378$253$168$130
33 years$758$523$353$233$152$117
34 years$727$496$329$214$137$105
35 years$699$470$308$197$124$94
36 years$672$446$288$182$113$84
37 years$646$424$270$168$102$75
38 years$622$403$253$154$93$68
39 years$600$383$237$142$84$61
40 years$578$364$222$131$76$55
41 years$558$347$208$121$69$49
42 years$539$330$195$112$63$44
43 years$520$315$183$103$57$40
44 years$503$300$172$95$52$36
45 years$486$286$161$88$47$32
46 years$470$273$152$81$43$29
47 years$455$260$142$75$39$26
48 years$440$249$134$69$35$23
49 years$426$237$126$64$32$21
50 years$413$227$118$59$29$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $423,000, adding $6,817 every year, while hoping to spend $30,692 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: 78/6/16 Blend
58$423,000$423,000$423,000$423,000
59$473,178$450,759$444,202$507,931
60$488,786$440,190$426,427$521,229
61$504,957$428,074$407,028$531,250
62$521,717$414,304$385,917$541,392
63$539,092$398,765$363,005$551,656
64$557,110$381,335$338,197$562,043
65$575,802$361,887$311,392$572,555
66$595,198$340,284$282,489$583,195
67$615,335$316,384$251,378$593,963
68$636,247$290,035$217,947$604,864
69$657,973$261,076$182,078$615,901
70$680,556$229,339$143,647$627,079
71$704,040$194,643$102,527$638,405
72$728,472$156,801$58,581$649,884
73$753,904$115,611$11,671$661,526
74$780,390$70,865$0$673,340
75$807,990$22,337$0$691,892
76$836,767$0$0$713,193
77$866,790$0$0$737,288
78$898,132$0$0$763,983
79$930,874$0$0$791,874
80$965,100$0$0$821,034
81$1,000,906$0$0$851,542
82$1,038,390$0$0$883,485
83$1,077,662$0$0$916,956
84$1,118,842$0$0$952,057
85$1,162,055$0$0$988,898
86$1,207,444$0$0$1,027,598
87$1,255,157$0$0$1,068,288
88$1,305,362$0$0$1,111,107
89$1,358,235$0$0$1,156,211
90$1,413,973$0$0$1,203,766
91$1,472,788$0$0$1,253,955
92$1,534,912$0$0$1,306,976
93$1,600,597$0$0$1,363,047
94$1,670,120$0$0$1,422,403
95$1,743,781$0$0$1,485,305
96$1,821,909$0$0$1,552,033
97$1,904,865$0$0$1,622,898
98$1,993,042$0$0$1,698,236
99$2,086,871$0$0$1,778,418
100$2,186,821$0$0$1,863,847