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%17.7%
1 years$48,144$47,715$47,296$46,888$46,489$45,037
2 years$23,833$23,390$22,959$22,542$22,138$20,688
3 years$15,731$15,285$14,856$14,443$14,045$12,643
4 years$11,681$11,236$10,812$10,405$10,017$8,673
5 years$9,251$8,809$8,390$7,992$7,615$6,333
6 years$7,632$7,194$6,781$6,392$6,025$4,806
7 years$6,476$6,041$5,635$5,255$4,900$3,744
8 years$5,609$5,178$4,779$4,408$4,065$2,971
9 years$4,935$4,509$4,116$3,755$3,423$2,390
10 years$4,397$3,974$3,588$3,237$2,917$1,943
11 years$3,956$3,538$3,159$2,817$2,509$1,593
12 years$3,590$3,176$2,804$2,471$2,174$1,314
13 years$3,279$2,870$2,505$2,181$1,896$1,089
14 years$3,014$2,609$2,251$1,936$1,662$907
15 years$2,784$2,383$2,032$1,727$1,463$757
16 years$2,583$2,186$1,842$1,546$1,293$634
17 years$2,406$2,013$1,676$1,389$1,147$533
18 years$2,248$1,861$1,530$1,252$1,020$448
19 years$2,108$1,724$1,401$1,131$909$377
20 years$1,981$1,602$1,286$1,025$812$318
21 years$1,867$1,493$1,183$930$726$269
22 years$1,764$1,393$1,090$845$651$227
23 years$1,669$1,303$1,006$770$584$192
24 years$1,583$1,221$931$702$525$163
25 years$1,503$1,146$862$641$473$138
26 years$1,430$1,077$800$586$426$117
27 years$1,362$1,013$742$537$384$99
28 years$1,299$955$690$492$346$84
29 years$1,241$901$642$451$313$71
30 years$1,187$851$598$414$283$60
31 years$1,136$804$558$380$256$51
32 years$1,089$761$520$349$231$44
33 years$1,044$721$486$321$209$37
34 years$1,002$683$454$296$189$31
35 years$963$648$424$272$172$27
36 years$926$615$397$251$155$23
37 years$891$584$372$231$141$19
38 years$858$555$348$213$128$16
39 years$827$528$326$196$116$14
40 years$797$502$306$181$105$12
41 years$769$478$287$167$95$10
42 years$742$455$269$154$86$8
43 years$717$434$252$142$78$7
44 years$693$413$237$131$71$6
45 years$670$394$222$121$65$5
46 years$648$376$209$112$59$4
47 years$627$359$196$104$53$4
48 years$607$343$184$96$48$3
49 years$588$327$173$88$44$3
50 years$569$313$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $583,000, adding $3,436 every year, while hoping to spend $22,431 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: 60/10/30 Blend
58$583,000$583,000$583,000$583,000
59$646,010$615,111$606,075$679,311
60$688,037$621,385$602,512$708,740
61$733,598$627,215$598,078$738,159
62$783,032$632,555$592,720$769,802
63$836,707$637,356$586,382$803,892
64$895,033$641,568$579,007$840,675
65$958,457$645,135$570,534$880,423
66$1,027,471$647,999$560,900$923,435
67$1,102,620$650,098$550,037$970,045
68$1,184,500$651,366$537,875$1,020,617
69$1,273,769$651,732$524,343$1,075,558
70$1,371,148$651,122$509,364$1,135,313
71$1,477,436$649,457$492,858$1,200,376
72$1,593,507$646,653$474,742$1,271,291
73$1,720,327$642,621$454,928$1,348,661
74$1,858,957$637,267$433,325$1,433,149
75$2,010,567$630,489$409,837$1,525,489
76$2,176,444$622,182$384,366$1,626,489
77$2,358,005$612,233$356,807$1,737,043
78$2,556,812$600,523$327,050$1,858,137
79$2,774,584$586,926$294,983$1,990,859
80$3,013,213$571,307$260,487$2,136,410
81$3,274,785$553,525$223,437$2,296,115
82$3,561,595$533,429$183,704$2,471,436
83$3,876,172$510,861$141,152$2,663,987
84$4,221,301$485,654$95,641$2,875,549
85$4,600,051$457,628$47,022$3,108,085
86$5,015,802$426,597$0$3,363,763
87$5,472,275$392,362$0$3,646,530
88$5,973,571$354,712$0$3,973,632
89$6,524,209$313,426$0$4,332,963
90$7,129,163$268,268$0$4,727,789
91$7,793,916$218,992$0$5,161,709
92$8,524,508$165,335$0$5,638,688
93$9,327,592$107,021$0$6,163,095
94$10,210,498$43,757$0$6,739,747
95$11,181,303$0$0$7,373,951
96$12,248,904$0$0$8,074,279
97$13,423,104$0$0$8,849,883
98$14,714,704$0$0$9,703,086
99$16,135,605$0$0$10,641,758
100$17,698,917$0$0$11,674,566