Can I retire at age 59 with 550,000?

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 $550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$45,418$45,014$44,619$44,234$43,858$42,420
2 years$22,484$22,066$21,660$21,266$20,885$19,450
3 years$14,841$14,420$14,015$13,626$13,250$11,863
4 years$11,020$10,600$10,200$9,816$9,450$8,122
5 years$8,728$8,311$7,915$7,540$7,184$5,918
6 years$7,200$6,786$6,397$6,030$5,684$4,481
7 years$6,109$5,699$5,316$4,957$4,623$3,483
8 years$5,292$4,885$4,508$4,159$3,835$2,757
9 years$4,656$4,254$3,883$3,542$3,230$2,213
10 years$4,148$3,749$3,385$3,053$2,752$1,795
11 years$3,732$3,338$2,980$2,657$2,367$1,467
12 years$3,386$2,996$2,645$2,331$2,051$1,207
13 years$3,094$2,707$2,363$2,058$1,788$998
14 years$2,843$2,461$2,123$1,827$1,568$828
15 years$2,626$2,248$1,917$1,629$1,380$690
16 years$2,437$2,063$1,738$1,459$1,220$576
17 years$2,270$1,900$1,582$1,311$1,082$482
18 years$2,121$1,755$1,444$1,181$962$405
19 years$1,989$1,627$1,322$1,067$857$340
20 years$1,869$1,512$1,213$967$766$286
21 years$1,762$1,408$1,116$877$685$241
22 years$1,664$1,314$1,028$798$614$203
23 years$1,575$1,229$949$726$551$171
24 years$1,493$1,152$878$663$496$144
25 years$1,418$1,081$813$605$446$122
26 years$1,349$1,016$754$553$402$103
27 years$1,285$956$700$506$362$87
28 years$1,226$901$651$464$327$74
29 years$1,171$850$606$425$295$62
30 years$1,120$803$564$390$267$53
31 years$1,072$759$526$359$241$44
32 years$1,027$718$491$330$218$38
33 years$985$680$458$303$197$32
34 years$946$644$428$279$179$27
35 years$908$611$400$257$162$23
36 years$874$580$375$236$147$19
37 years$841$551$351$218$133$16
38 years$809$524$328$201$120$14
39 years$780$498$308$185$109$12
40 years$752$474$288$171$99$10
41 years$725$451$270$158$90$8
42 years$700$429$254$145$82$7
43 years$676$409$238$134$74$6
44 years$653$390$223$124$67$5
45 years$632$372$210$114$61$4
46 years$611$355$197$106$55$4
47 years$591$339$185$98$50$3
48 years$572$323$174$90$46$3
49 years$554$309$163$83$41$2
50 years$537$295$154$77$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $550,000, adding $2,957 every year, while hoping to spend $29,775 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: 68/10/22 Blend
58$550,000$550,000$550,000$550,000
59$609,150$580,000$571,475$647,002
60$639,603$576,740$558,939$669,465
61$672,164$572,322$544,985$690,310
62$707,017$566,658$529,535$712,405
63$744,364$559,655$512,505$735,871
64$784,424$551,213$493,809$760,843
65$827,441$541,228$473,357$787,473
66$873,680$529,588$451,055$815,926
67$923,434$516,176$426,803$846,387
68$977,022$500,867$400,499$879,058
69$1,034,798$483,529$372,036$914,167
70$1,097,147$464,022$341,299$951,962
71$1,164,496$442,199$308,172$992,720
72$1,237,310$417,902$272,531$1,036,746
73$1,316,103$390,967$234,249$1,084,379
74$1,401,440$361,219$193,190$1,135,993
75$1,493,941$328,472$149,216$1,192,002
76$1,594,288$292,532$102,179$1,252,862
77$1,703,231$253,192$51,928$1,319,081
78$1,821,595$210,233$0$1,391,217
79$1,950,289$163,425$0$1,470,288
80$2,090,310$112,525$0$1,569,613
81$2,242,758$57,275$0$1,677,785
82$2,408,841$0$0$1,795,682
83$2,589,891$0$0$1,924,556
84$2,787,371$0$0$2,072,030
85$3,002,894$0$0$2,233,007
86$3,238,233$0$0$2,408,818
87$3,495,341$0$0$2,600,924
88$3,776,369$0$0$2,810,938
89$4,083,684$0$0$3,040,631
90$4,419,892$0$0$3,291,957
91$4,787,862$0$0$3,567,065
92$5,190,756$0$0$3,868,323
93$5,632,052$0$0$4,198,338
94$6,115,584$0$0$4,559,981
95$6,645,571$0$0$4,956,415
96$7,226,662$0$0$5,391,120
97$7,863,977$0$0$5,867,935
98$8,563,154$0$0$6,391,082
99$9,330,404$0$0$6,965,216
100$10,172,568$0$0$7,595,462