Can I retire at age 59 with 497,000?

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 $497,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$41,042$40,676$40,320$39,971$39,631$39,398
2 years$20,318$19,939$19,573$19,217$18,872$18,637
3 years$13,411$13,031$12,665$12,313$11,973$11,743
4 years$9,958$9,579$9,217$8,870$8,539$8,316
5 years$7,887$7,510$7,153$6,813$6,492$6,276
6 years$6,506$6,132$5,780$5,449$5,137$4,929
7 years$5,521$5,150$4,803$4,480$4,177$3,978
8 years$4,782$4,415$4,074$3,758$3,466$3,274
9 years$4,207$3,844$3,509$3,201$2,918$2,735
10 years$3,748$3,388$3,059$2,759$2,487$2,311
11 years$3,373$3,016$2,693$2,401$2,139$1,971
12 years$3,060$2,707$2,390$2,106$1,853$1,693
13 years$2,796$2,446$2,135$1,860$1,616$1,463
14 years$2,569$2,224$1,919$1,651$1,417$1,271
15 years$2,373$2,031$1,732$1,472$1,247$1,109
16 years$2,202$1,864$1,571$1,318$1,102$971
17 years$2,051$1,716$1,429$1,184$977$853
18 years$1,917$1,586$1,305$1,067$869$751
19 years$1,797$1,470$1,194$964$775$663
20 years$1,689$1,366$1,096$873$692$586
21 years$1,592$1,272$1,008$793$619$519
22 years$1,503$1,188$929$721$555$461
23 years$1,423$1,111$858$656$498$409
24 years$1,349$1,041$793$599$448$364
25 years$1,281$977$735$547$403$324
26 years$1,219$918$682$500$363$289
27 years$1,161$864$633$458$327$257
28 years$1,108$814$588$419$295$230
29 years$1,058$768$548$384$267$205
30 years$1,012$725$510$353$241$183
31 years$968$686$475$324$218$164
32 years$928$649$444$298$197$147
33 years$890$614$414$274$178$131
34 years$854$582$387$252$161$117
35 years$821$552$362$232$146$105
36 years$789$524$338$214$132$94
37 years$760$498$317$197$120$84
38 years$731$473$297$181$109$76
39 years$705$450$278$167$99$68
40 years$679$428$261$154$90$61
41 years$656$407$244$142$81$54
42 years$633$388$229$131$74$49
43 years$611$370$215$121$67$44
44 years$591$352$202$112$61$39
45 years$571$336$190$103$55$35
46 years$552$321$178$96$50$32
47 years$534$306$167$88$45$28
48 years$517$292$157$82$41$25
49 years$501$279$148$75$37$23
50 years$485$266$139$70$34$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $497,000, adding $5,612 every year, while hoping to spend $26,197 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: 63/23/14 Blend
58$497,000$497,000$497,000$497,000
59$553,483$527,142$519,438$586,138
60$582,065$525,098$508,966$606,673
61$612,684$522,077$497,265$625,579
62$645,520$518,001$484,266$645,585
63$680,772$512,792$469,898$666,798
64$718,656$506,364$454,085$689,337
65$759,410$498,627$436,748$713,336
66$803,296$489,486$417,804$738,940
67$850,600$478,839$397,169$766,312
68$901,639$466,579$374,752$795,632
69$956,758$452,593$350,458$827,100
70$1,016,339$436,762$324,190$860,937
71$1,080,799$418,957$295,844$897,388
72$1,150,600$399,045$265,314$936,726
73$1,226,246$376,884$232,487$979,249
74$1,308,295$352,322$197,247$1,025,293
75$1,397,356$325,202$159,470$1,075,224
76$1,494,105$295,354$119,030$1,129,452
77$1,599,279$262,602$75,793$1,188,428
78$1,713,693$226,758$29,620$1,252,652
79$1,838,243$187,622$0$1,322,676
80$1,973,915$144,987$0$1,402,050
81$2,121,792$98,629$0$1,493,425
82$2,283,069$48,316$0$1,593,146
83$2,459,059$0$0$1,702,064
84$2,651,209$0$0$1,822,689
85$2,861,109$0$0$1,967,849
86$3,090,513$0$0$2,126,532
87$3,341,349$0$0$2,300,076
88$3,615,742$0$0$2,489,956
89$3,916,031$0$0$2,697,795
90$4,244,791$0$0$2,925,380
91$4,604,858$0$0$3,174,680
92$4,999,355$0$0$3,447,861
93$5,431,723$0$0$3,747,313
94$5,905,749$0$0$4,075,663
95$6,425,605$0$0$4,435,808
96$6,995,887$0$0$4,830,937
97$7,621,656$0$0$5,264,563
98$8,308,487$0$0$5,740,557
99$9,062,522$0$0$6,263,181
100$9,890,525$0$0$6,837,131