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%16.7%
1 years$47,896$47,469$47,053$46,647$46,250$44,986
2 years$23,711$23,269$22,841$22,426$22,024$20,760
3 years$15,650$15,207$14,780$14,369$13,973$12,748
4 years$11,621$11,179$10,756$10,352$9,966$8,789
5 years$9,204$8,764$8,347$7,951$7,576$6,451
6 years$7,593$7,157$6,746$6,359$5,994$4,923
7 years$6,443$6,010$5,606$5,228$4,875$3,857
8 years$5,580$5,152$4,754$4,385$4,044$3,079
9 years$4,910$4,486$4,095$3,735$3,406$2,492
10 years$4,374$3,954$3,570$3,220$2,902$2,039
11 years$3,936$3,520$3,143$2,802$2,496$1,682
12 years$3,571$3,159$2,789$2,458$2,163$1,396
13 years$3,263$2,855$2,492$2,170$1,886$1,165
14 years$2,998$2,595$2,239$1,926$1,653$977
15 years$2,770$2,371$2,022$1,718$1,456$822
16 years$2,570$2,175$1,833$1,538$1,287$693
17 years$2,393$2,003$1,668$1,382$1,141$586
18 years$2,237$1,851$1,522$1,246$1,014$497
19 years$2,097$1,715$1,394$1,125$904$422
20 years$1,971$1,594$1,279$1,019$808$359
21 years$1,858$1,485$1,177$925$723$305
22 years$1,754$1,386$1,084$841$648$260
23 years$1,660$1,296$1,001$766$581$222
24 years$1,574$1,215$926$699$523$189
25 years$1,495$1,140$858$638$470$162
26 years$1,422$1,071$795$583$424$138
27 years$1,355$1,008$739$534$382$118
28 years$1,293$950$687$489$345$101
29 years$1,235$896$639$449$311$86
30 years$1,181$846$595$412$281$74
31 years$1,130$800$555$378$254$63
32 years$1,083$757$518$348$230$54
33 years$1,039$717$483$320$208$46
34 years$997$680$452$294$188$40
35 years$958$645$422$271$171$34
36 years$921$612$395$249$155$29
37 years$886$581$370$230$140$25
38 years$854$552$346$212$127$21
39 years$822$525$324$195$115$18
40 years$793$500$304$180$104$16
41 years$765$476$285$166$95$13
42 years$738$453$267$153$86$11
43 years$713$431$251$142$78$10
44 years$689$411$236$131$71$8
45 years$666$392$221$121$64$7
46 years$644$374$208$111$58$6
47 years$624$357$195$103$53$5
48 years$604$341$183$95$48$5
49 years$585$326$172$88$44$4
50 years$566$311$162$81$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $580,000, adding $6,144 every year, while hoping to spend $25,019 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: 29/50/21 Blend
58$580,000$580,000$580,000$580,000
59$645,498$614,758$605,768$659,814
60$684,718$618,261$599,441$674,826
61$727,101$621,097$592,063$688,309
62$772,942$623,207$583,574$702,276
63$822,566$624,529$573,908$716,785
64$876,332$624,994$562,998$731,900
65$934,633$624,534$550,773$747,695
66$997,901$623,072$537,160$764,252
67$1,066,612$620,528$522,080$781,666
68$1,141,290$616,817$505,453$800,040
69$1,222,511$611,850$487,195$819,494
70$1,310,907$605,531$467,217$840,162
71$1,407,177$597,760$445,425$862,192
72$1,512,086$588,427$421,725$885,752
73$1,626,480$577,421$396,014$911,032
74$1,751,287$564,621$368,186$938,241
75$1,887,530$549,899$338,132$967,616
76$2,036,335$533,120$305,736$999,421
77$2,198,940$514,142$270,877$1,033,951
78$2,376,710$492,814$233,430$1,071,535
79$2,571,148$468,975$193,263$1,112,542
80$2,783,906$442,456$150,238$1,157,381
81$3,016,807$413,078$104,213$1,206,509
82$3,271,855$380,653$55,038$1,260,436
83$3,551,259$344,980$2,557$1,319,728
84$3,857,451$305,848$0$1,385,018
85$4,193,109$263,033$0$1,468,982
86$4,561,184$216,299$0$1,561,816
87$4,964,925$165,397$0$1,663,852
88$5,407,909$110,064$0$1,776,097
89$5,894,080$50,021$0$1,899,664
90$6,427,779$0$0$2,035,785
91$7,013,789$0$0$2,194,094
92$7,657,379$0$0$2,398,280
93$8,364,354$0$0$2,622,676
94$9,141,105$0$0$2,869,322
95$9,994,679$0$0$3,140,469
96$10,932,834$0$0$3,438,596
97$11,964,121$0$0$3,766,432
98$13,097,956$0$0$4,126,985
99$14,344,718$0$0$4,523,572
100$15,715,839$0$0$4,959,842