Can I retire at age 59 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$48,144$47,715$47,296$46,888$46,489$46,158
2 years$23,833$23,390$22,959$22,542$22,138$21,803
3 years$15,731$15,285$14,856$14,443$14,045$13,718
4 years$11,681$11,236$10,812$10,405$10,017$9,700
5 years$9,251$8,809$8,390$7,992$7,615$7,309
6 years$7,632$7,194$6,781$6,392$6,025$5,731
7 years$6,476$6,041$5,635$5,255$4,900$4,617
8 years$5,609$5,178$4,779$4,408$4,065$3,794
9 years$4,935$4,509$4,116$3,755$3,423$3,164
10 years$4,397$3,974$3,588$3,237$2,917$2,669
11 years$3,956$3,538$3,159$2,817$2,509$2,272
12 years$3,590$3,176$2,804$2,471$2,174$1,948
13 years$3,279$2,870$2,505$2,181$1,896$1,680
14 years$3,014$2,609$2,251$1,936$1,662$1,457
15 years$2,784$2,383$2,032$1,727$1,463$1,268
16 years$2,583$2,186$1,842$1,546$1,293$1,108
17 years$2,406$2,013$1,676$1,389$1,147$971
18 years$2,248$1,861$1,530$1,252$1,020$853
19 years$2,108$1,724$1,401$1,131$909$752
20 years$1,981$1,602$1,286$1,025$812$663
21 years$1,867$1,493$1,183$930$726$586
22 years$1,764$1,393$1,090$845$651$519
23 years$1,669$1,303$1,006$770$584$460
24 years$1,583$1,221$931$702$525$408
25 years$1,503$1,146$862$641$473$363
26 years$1,430$1,077$800$586$426$322
27 years$1,362$1,013$742$537$384$287
28 years$1,299$955$690$492$346$255
29 years$1,241$901$642$451$313$227
30 years$1,187$851$598$414$283$203
31 years$1,136$804$558$380$256$181
32 years$1,089$761$520$349$231$161
33 years$1,044$721$486$321$209$144
34 years$1,002$683$454$296$189$128
35 years$963$648$424$272$172$115
36 years$926$615$397$251$155$102
37 years$891$584$372$231$141$92
38 years$858$555$348$213$128$82
39 years$827$528$326$196$116$73
40 years$797$502$306$181$105$65
41 years$769$478$287$167$95$58
42 years$742$455$269$154$86$52
43 years$717$434$252$142$78$47
44 years$693$413$237$131$71$42
45 years$670$394$222$121$65$37
46 years$648$376$209$112$59$33
47 years$627$359$196$104$53$30
48 years$607$343$184$96$48$27
49 years$588$327$173$88$44$24
50 years$569$313$163$82$40$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $583,000, adding $3,626 every year, while hoping to spend $48,999 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: 57/23/20 Blend
58$583,000$583,000$583,000$583,000
59$646,206$615,307$606,271$679,395
60$659,985$593,323$574,446$680,420
61$673,526$568,619$539,913$675,953
62$686,755$541,010$502,530$670,003
63$699,586$510,302$462,146$662,439
64$711,924$476,286$418,608$653,119
65$723,660$438,744$371,752$641,890
66$734,676$397,446$321,408$628,586
67$744,838$352,145$267,400$613,026
68$753,995$302,584$209,542$595,017
69$761,982$248,490$147,641$574,348
70$768,613$189,575$81,495$550,791
71$773,680$125,533$10,894$524,100
72$776,955$56,043$0$494,007
73$778,181$0$0$473,977
74$777,074$0$0$458,183
75$773,319$0$0$454,882
76$766,566$0$0$449,668
77$756,427$0$0$442,296
78$742,471$0$0$432,495
79$724,222$0$0$419,965
80$701,151$0$0$404,372
81$672,673$0$0$385,349
82$638,141$0$0$362,486
83$596,837$0$0$335,334
84$547,969$0$0$303,391
85$490,659$0$0$266,107
86$423,938$0$0$222,871
87$346,733$0$0$173,007
88$257,859$0$0$115,771
89$156,006$0$0$50,338
90$39,727$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0