Can I retire at age 59 with 494,000?

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 $494,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$40,794$40,431$40,076$39,730$39,392$38,424
2 years$20,195$19,819$19,454$19,101$18,758$17,789
3 years$13,330$12,952$12,588$12,238$11,901$10,961
4 years$9,898$9,521$9,161$8,817$8,488$7,584
5 years$7,839$7,465$7,109$6,772$6,452$5,587
6 years$6,467$6,095$5,745$5,416$5,106$4,280
7 years$5,487$5,119$4,774$4,453$4,152$3,366
8 years$4,753$4,388$4,049$3,735$3,445$2,698
9 years$4,182$3,820$3,488$3,182$2,901$2,193
10 years$3,726$3,368$3,040$2,743$2,472$1,802
11 years$3,352$2,998$2,677$2,387$2,126$1,493
12 years$3,042$2,691$2,376$2,094$1,842$1,246
13 years$2,779$2,432$2,122$1,848$1,606$1,045
14 years$2,554$2,210$1,907$1,641$1,408$880
15 years$2,359$2,019$1,722$1,463$1,240$744
16 years$2,189$1,853$1,561$1,310$1,096$631
17 years$2,038$1,706$1,420$1,177$972$536
18 years$1,905$1,577$1,297$1,061$864$457
19 years$1,786$1,461$1,187$959$770$390
20 years$1,679$1,358$1,089$868$688$333
21 years$1,582$1,265$1,002$788$615$285
22 years$1,494$1,181$924$716$552$244
23 years$1,414$1,104$853$652$495$209
24 years$1,341$1,034$789$595$445$180
25 years$1,274$971$730$543$401$154
26 years$1,212$912$677$497$361$132
27 years$1,154$859$629$455$325$114
28 years$1,101$809$585$417$294$98
29 years$1,052$763$544$382$265$84
30 years$1,006$721$507$351$239$72
31 years$963$681$473$322$217$62
32 years$922$645$441$296$196$54
33 years$885$611$412$272$177$46
34 years$849$579$385$250$160$40
35 years$816$549$360$231$145$34
36 years$785$521$336$212$132$30
37 years$755$495$315$196$119$25
38 years$727$470$295$180$108$22
39 years$700$447$276$166$98$19
40 years$675$425$259$153$89$16
41 years$652$405$243$141$81$14
42 years$629$386$228$131$73$12
43 years$607$368$214$121$66$10
44 years$587$350$201$111$60$9
45 years$567$334$188$103$55$8
46 years$549$319$177$95$50$7
47 years$531$304$166$88$45$6
48 years$514$290$156$81$41$5
49 years$498$277$147$75$37$4
50 years$482$265$138$69$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $494,000, adding $6,371 every year, while hoping to spend $31,778 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: 71/11/18 Blend
58$494,000$494,000$494,000$494,000
59$550,960$524,778$517,121$587,285
60$573,346$516,680$500,633$604,185
61$596,951$507,121$482,527$618,271
62$621,864$495,995$462,717$632,887
63$648,186$483,190$441,109$648,080
64$676,024$468,589$417,609$663,902
65$705,495$452,067$392,116$680,413
66$736,729$433,491$364,525$697,679
67$769,865$412,722$334,727$715,774
68$805,059$389,613$302,607$734,779
69$842,477$364,006$268,047$754,785
70$882,303$335,736$230,920$775,896
71$924,740$304,629$191,098$798,223
72$970,007$270,499$148,443$821,894
73$1,018,346$233,152$102,814$847,047
74$1,070,022$192,381$54,063$873,839
75$1,125,324$147,968$2,034$902,442
76$1,184,571$99,682$0$933,051
77$1,248,113$47,282$0$976,150
78$1,316,331$0$0$1,022,790
79$1,389,645$0$0$1,074,025
80$1,468,518$0$0$1,135,319
81$1,553,456$0$0$1,201,344
82$1,645,014$0$0$1,272,537
83$1,743,804$0$0$1,349,374
84$1,850,497$0$0$1,432,380
85$1,965,831$0$0$1,522,132
86$2,090,616$0$0$1,619,263
87$2,225,744$0$0$1,724,471
88$2,372,195$0$0$1,838,521
89$2,531,045$0$0$1,962,256
90$2,703,480$0$0$2,096,603
91$2,890,802$0$0$2,242,580
92$3,094,446$0$0$2,401,309
93$3,315,988$0$0$2,574,023
94$3,557,164$0$0$2,762,079
95$3,819,882$0$0$2,966,970
96$4,106,244$0$0$3,190,339
97$4,418,562$0$0$3,433,995
98$4,759,381$0$0$3,699,928
99$5,131,503$0$0$3,990,331
100$5,538,011$0$0$4,307,614