Can I retire at age 59 with 424,000?

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 $424,000?

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$35,014$34,702$34,397$34,100$33,810$32,794
2 years$17,333$17,011$16,698$16,394$16,100$15,085
3 years$11,441$11,117$10,805$10,504$10,215$9,232
4 years$8,495$8,172$7,863$7,568$7,285$6,343
5 years$6,728$6,407$6,102$5,813$5,538$4,638
6 years$5,551$5,232$4,931$4,648$4,382$3,526
7 years$4,710$4,394$4,098$3,822$3,564$2,752
8 years$4,079$3,766$3,475$3,206$2,957$2,187
9 years$3,589$3,279$2,993$2,731$2,490$1,763
10 years$3,198$2,890$2,610$2,354$2,121$1,436
11 years$2,877$2,573$2,298$2,049$1,825$1,179
12 years$2,611$2,309$2,039$1,797$1,581$975
13 years$2,385$2,087$1,822$1,586$1,379$810
14 years$2,192$1,897$1,637$1,408$1,209$675
15 years$2,025$1,733$1,478$1,256$1,064$565
16 years$1,878$1,590$1,340$1,125$940$475
17 years$1,750$1,464$1,219$1,010$834$399
18 years$1,635$1,353$1,113$911$741$337
19 years$1,533$1,254$1,019$823$661$284
20 years$1,441$1,165$935$745$590$240
21 years$1,358$1,085$860$676$528$203
22 years$1,283$1,013$793$615$474$172
23 years$1,214$948$732$560$425$146
24 years$1,151$888$677$511$382$124
25 years$1,093$833$627$466$344$105
26 years$1,040$783$581$426$310$89
27 years$991$737$540$390$279$76
28 years$945$694$502$358$252$65
29 years$903$655$467$328$227$55
30 years$863$619$435$301$206$47
31 years$826$585$406$276$186$40
32 years$792$553$378$254$168$34
33 years$759$524$353$234$152$29
34 years$729$497$330$215$138$25
35 years$700$471$309$198$125$21
36 years$673$447$289$182$113$18
37 years$648$425$270$168$102$15
38 years$624$404$253$155$93$13
39 years$601$384$237$143$84$11
40 years$580$365$222$132$76$9
41 years$559$348$208$121$69$8
42 years$540$331$195$112$63$7
43 years$521$315$183$103$57$6
44 years$504$301$172$96$52$5
45 years$487$287$162$88$47$4
46 years$471$274$152$81$43$4
47 years$456$261$143$75$39$3
48 years$441$249$134$70$35$3
49 years$427$238$126$64$32$2
50 years$414$227$118$59$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $424,000, adding $5,424 every year, while hoping to spend $22,462 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: 52/21/27 Blend
58$424,000$424,000$424,000$424,000
59$472,843$450,371$443,799$493,605
60$497,173$448,540$434,767$506,758
61$523,233$445,866$424,679$518,342
62$551,174$442,285$413,477$530,495
63$581,164$437,727$401,099$543,280
64$613,387$432,119$387,480$556,769
65$648,044$425,385$372,552$571,042
66$685,357$417,441$356,245$586,187
67$725,569$408,202$338,485$602,304
68$768,947$397,574$319,195$619,506
69$815,786$385,461$298,293$637,915
70$866,406$371,759$275,697$657,671
71$921,163$356,359$251,316$678,927
72$980,447$339,145$225,060$701,857
73$1,044,685$319,996$196,832$726,652
74$1,114,349$298,782$166,532$753,525
75$1,189,957$275,366$134,055$782,715
76$1,272,077$249,604$99,291$814,484
77$1,361,338$221,343$62,126$849,127
78$1,458,427$190,422$22,440$886,970
79$1,564,104$156,670$0$928,374
80$1,679,203$119,907$0$979,480
81$1,804,642$79,943$0$1,042,269
82$1,941,432$36,576$0$1,110,803
83$2,090,685$0$0$1,185,674
84$2,253,625$0$0$1,269,937
85$2,431,601$0$0$1,371,248
86$2,626,096$0$0$1,482,003
87$2,838,742$0$0$1,603,138
88$3,071,340$0$0$1,735,684
89$3,325,869$0$0$1,880,773
90$3,604,508$0$0$2,039,654
91$3,909,661$0$0$2,213,704
92$4,243,969$0$0$2,404,435
93$4,610,347$0$0$2,613,517
94$5,011,999$0$0$2,842,785
95$5,452,460$0$0$3,094,264
96$5,935,618$0$0$3,370,181
97$6,465,759$0$0$3,672,992
98$7,047,603$0$0$4,005,399
99$7,686,348$0$0$4,370,381
100$8,387,722$0$0$4,771,219