Can I retire at age 59 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$42,446$42,068$41,699$41,339$40,987$40,763
2 years$21,013$20,621$20,242$19,874$19,518$19,292
3 years$13,869$13,476$13,098$12,734$12,383$12,162
4 years$10,298$9,906$9,532$9,174$8,832$8,617
5 years$8,156$7,767$7,397$7,046$6,714$6,506
6 years$6,729$6,342$5,978$5,635$5,312$5,113
7 years$5,709$5,326$4,968$4,633$4,320$4,128
8 years$4,945$4,566$4,213$3,886$3,584$3,400
9 years$4,351$3,975$3,629$3,310$3,018$2,842
10 years$3,876$3,504$3,164$2,854$2,572$2,403
11 years$3,488$3,119$2,785$2,483$2,212$2,050
12 years$3,165$2,800$2,472$2,178$1,917$1,762
13 years$2,891$2,530$2,208$1,923$1,671$1,524
14 years$2,657$2,300$1,984$1,707$1,465$1,325
15 years$2,454$2,101$1,791$1,522$1,290$1,157
16 years$2,277$1,928$1,624$1,363$1,140$1,013
17 years$2,121$1,775$1,478$1,225$1,011$891
18 years$1,982$1,640$1,349$1,104$899$785
19 years$1,858$1,520$1,235$997$801$693
20 years$1,747$1,413$1,134$903$716$613
21 years$1,646$1,316$1,043$820$640$544
22 years$1,555$1,228$961$745$574$483
23 years$1,472$1,149$887$679$515$429
24 years$1,395$1,076$821$619$463$382
25 years$1,325$1,010$760$565$417$340
26 years$1,261$949$705$517$375$304
27 years$1,201$893$655$473$338$271
28 years$1,146$842$608$434$305$242
29 years$1,094$794$566$398$276$216
30 years$1,046$750$527$365$249$193
31 years$1,002$709$492$335$225$173
32 years$960$671$459$308$204$155
33 years$920$635$428$283$184$139
34 years$884$602$400$261$167$124
35 years$849$571$374$240$151$111
36 years$816$542$350$221$137$100
37 years$786$515$328$204$124$89
38 years$756$489$307$188$113$80
39 years$729$465$287$173$102$72
40 years$703$443$269$160$93$65
41 years$678$421$253$147$84$58
42 years$654$401$237$136$76$52
43 years$632$382$222$125$69$47
44 years$611$364$209$116$63$42
45 years$590$348$196$107$57$38
46 years$571$332$184$99$52$34
47 years$553$316$173$91$47$30
48 years$535$302$163$84$43$27
49 years$518$288$153$78$39$24
50 years$502$276$144$72$35$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $514,000, adding $2,355 every year, while hoping to spend $36,303 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: 76/7/17 Blend
58$514,000$514,000$514,000$514,000
59$568,857$541,615$533,648$609,749
60$588,255$529,528$512,899$625,019
61$608,414$515,632$490,239$637,006
62$629,374$499,800$465,564$649,172
63$651,178$481,898$438,768$661,522
64$673,870$461,783$409,738$674,066
65$697,499$439,305$378,359$686,812
66$722,118$414,305$344,508$699,771
67$747,783$386,615$308,058$712,955
68$774,553$356,055$268,874$726,378
69$802,495$322,439$226,819$740,057
70$831,678$285,568$181,746$754,012
71$862,179$245,230$133,504$768,263
72$894,079$201,205$81,935$782,835
73$927,468$153,257$26,873$797,757
74$962,442$101,138$0$813,061
75$999,105$44,588$0$834,567
76$1,037,570$0$0$862,112
77$1,077,960$0$0$892,180
78$1,120,408$0$0$927,396
79$1,165,060$0$0$964,447
80$1,212,073$0$0$1,003,465
81$1,261,618$0$0$1,044,593
82$1,313,884$0$0$1,087,987
83$1,369,073$0$0$1,133,818
84$1,427,409$0$0$1,182,272
85$1,489,134$0$0$1,233,552
86$1,554,512$0$0$1,287,879
87$1,623,834$0$0$1,345,494
88$1,697,416$0$0$1,406,664
89$1,775,604$0$0$1,471,677
90$1,858,776$0$0$1,540,849
91$1,947,347$0$0$1,614,528
92$2,041,770$0$0$1,693,091
93$2,142,541$0$0$1,776,956
94$2,250,204$0$0$1,866,576
95$2,365,357$0$0$1,962,452
96$2,488,653$0$0$2,065,129
97$2,620,809$0$0$2,175,209
98$2,762,612$0$0$2,293,349
99$2,914,925$0$0$2,420,271
100$3,078,696$0$0$2,556,770