Can I retire at age 59 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$47,896$47,469$47,053$46,647$46,250$45,150
2 years$23,711$23,269$22,841$22,426$22,024$20,922
3 years$15,650$15,207$14,780$14,369$13,973$12,904
4 years$11,621$11,179$10,756$10,352$9,966$8,937
5 years$9,204$8,764$8,347$7,951$7,576$6,591
6 years$7,593$7,157$6,746$6,359$5,994$5,055
7 years$6,443$6,010$5,606$5,228$4,875$3,980
8 years$5,580$5,152$4,754$4,385$4,044$3,194
9 years$4,910$4,486$4,095$3,735$3,406$2,599
10 years$4,374$3,954$3,570$3,220$2,902$2,138
11 years$3,936$3,520$3,143$2,802$2,496$1,774
12 years$3,571$3,159$2,789$2,458$2,163$1,482
13 years$3,263$2,855$2,492$2,170$1,886$1,244
14 years$2,998$2,595$2,239$1,926$1,653$1,050
15 years$2,770$2,371$2,022$1,718$1,456$889
16 years$2,570$2,175$1,833$1,538$1,287$754
17 years$2,393$2,003$1,668$1,382$1,141$642
18 years$2,237$1,851$1,522$1,246$1,014$548
19 years$2,097$1,715$1,394$1,125$904$468
20 years$1,971$1,594$1,279$1,019$808$401
21 years$1,858$1,485$1,177$925$723$343
22 years$1,754$1,386$1,084$841$648$295
23 years$1,660$1,296$1,001$766$581$253
24 years$1,574$1,215$926$699$523$217
25 years$1,495$1,140$858$638$470$187
26 years$1,422$1,071$795$583$424$161
27 years$1,355$1,008$739$534$382$139
28 years$1,293$950$687$489$345$119
29 years$1,235$896$639$449$311$103
30 years$1,181$846$595$412$281$89
31 years$1,130$800$555$378$254$76
32 years$1,083$757$518$348$230$66
33 years$1,039$717$483$320$208$57
34 years$997$680$452$294$188$49
35 years$958$645$422$271$171$42
36 years$921$612$395$249$155$36
37 years$886$581$370$230$140$31
38 years$854$552$346$212$127$27
39 years$822$525$324$195$115$23
40 years$793$500$304$180$104$20
41 years$765$476$285$166$95$17
42 years$738$453$267$153$86$15
43 years$713$431$251$142$78$13
44 years$689$411$236$131$71$11
45 years$666$392$221$121$64$10
46 years$644$374$208$111$58$8
47 years$624$357$195$103$53$7
48 years$604$341$183$95$48$6
49 years$585$326$172$88$44$5
50 years$566$311$162$81$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $580,000, adding $5,018 every year, while hoping to spend $33,291 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: 39/40/21 Blend
58$580,000$580,000$580,000$580,000
59$644,336$613,596$604,606$665,265
60$674,637$608,241$589,439$675,445
61$706,913$601,508$572,648$682,921
62$741,330$593,293$554,144$690,326
63$778,070$583,490$533,832$697,673
64$817,334$571,981$511,616$704,979
65$859,339$558,645$487,392$712,262
66$904,325$543,353$461,054$719,550
67$952,557$525,967$432,489$726,874
68$1,004,321$506,343$401,582$734,271
69$1,059,936$484,328$368,208$741,787
70$1,119,748$459,759$332,242$749,476
71$1,184,140$432,464$293,550$757,401
72$1,253,530$402,263$251,991$765,636
73$1,328,379$368,963$207,422$774,266
74$1,409,193$332,361$159,690$783,392
75$1,496,528$292,244$108,637$793,127
76$1,590,994$248,384$54,096$803,604
77$1,693,262$200,542$0$814,973
78$1,804,072$148,466$0$828,327
79$1,924,235$91,888$0$855,936
80$2,054,642$30,526$0$885,932
81$2,196,277$0$0$918,612
82$2,350,218$0$0$970,116
83$2,517,654$0$0$1,040,818
84$2,699,891$0$0$1,117,841
85$2,898,367$0$0$1,201,803
86$3,114,666$0$0$1,293,383
87$3,350,527$0$0$1,393,326
88$3,607,869$0$0$1,502,457
89$3,888,801$0$0$1,621,679
90$4,195,645$0$0$1,751,991
91$4,530,958$0$0$1,894,488
92$4,897,555$0$0$2,050,380
93$5,298,534$0$0$2,220,997
94$5,737,309$0$0$2,407,803
95$6,217,635$0$0$2,612,411
96$6,743,651$0$0$2,836,599
97$7,319,913$0$0$3,082,321
98$7,951,439$0$0$3,351,734
99$8,643,754$0$0$3,647,210
100$9,402,946$0$0$3,971,363