Can I retire at age 59 with 586,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$48,391$47,960$47,540$47,129$46,728$46,260
2 years$23,956$23,510$23,078$22,658$22,252$21,780
3 years$15,812$15,364$14,933$14,517$14,117$13,657
4 years$11,741$11,294$10,867$10,459$10,069$9,623
5 years$9,299$8,855$8,433$8,033$7,654$7,224
6 years$7,671$7,231$6,815$6,424$6,056$5,643
7 years$6,509$6,072$5,664$5,282$4,925$4,529
8 years$5,638$5,205$4,803$4,431$4,086$3,707
9 years$4,961$4,532$4,137$3,774$3,441$3,078
10 years$4,419$3,995$3,607$3,253$2,932$2,586
11 years$3,977$3,556$3,175$2,831$2,522$2,191
12 years$3,608$3,192$2,818$2,483$2,185$1,871
13 years$3,296$2,885$2,518$2,193$1,906$1,607
14 years$3,029$2,622$2,262$1,946$1,670$1,386
15 years$2,798$2,395$2,042$1,736$1,471$1,201
16 years$2,596$2,198$1,852$1,554$1,300$1,045
17 years$2,418$2,024$1,685$1,396$1,153$911
18 years$2,260$1,870$1,538$1,258$1,025$797
19 years$2,119$1,733$1,408$1,137$913$698
20 years$1,992$1,611$1,292$1,030$816$613
21 years$1,877$1,500$1,189$935$730$539
22 years$1,773$1,400$1,096$850$654$475
23 years$1,678$1,310$1,012$774$587$418
24 years$1,591$1,227$936$706$528$369
25 years$1,511$1,152$866$645$475$326
26 years$1,437$1,082$804$589$428$288
27 years$1,369$1,019$746$540$386$255
28 years$1,306$960$694$494$348$226
29 years$1,247$905$646$453$314$200
30 years$1,193$855$601$416$284$177
31 years$1,142$808$561$382$257$157
32 years$1,094$765$523$351$232$139
33 years$1,049$724$488$323$210$124
34 years$1,007$687$456$297$190$110
35 years$968$651$427$274$172$98
36 years$931$618$399$252$156$87
37 years$896$587$374$232$142$77
38 years$862$558$350$214$128$68
39 years$831$530$328$197$116$61
40 years$801$505$307$182$106$54
41 years$773$480$288$168$96$48
42 years$746$458$270$155$87$43
43 years$721$436$254$143$79$38
44 years$696$416$238$132$72$34
45 years$673$396$223$122$65$30
46 years$651$378$210$113$59$27
47 years$630$361$197$104$54$24
48 years$610$344$185$96$49$21
49 years$591$329$174$89$44$19
50 years$572$314$164$82$40$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $586,000, adding $6,458 every year, while hoping to spend $49,419 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: 34/37/29 Blend
58$586,000$586,000$586,000$586,000
59$652,433$621,375$612,292$668,725
60$666,400$599,241$580,223$659,460
61$680,135$574,366$545,423$644,624
62$693,563$546,564$507,748$627,680
63$706,598$515,637$467,049$608,472
64$719,144$481,377$423,169$586,838
65$731,096$443,563$375,943$562,602
66$742,332$401,962$325,202$535,578
67$752,719$356,328$270,766$505,567
68$762,108$306,399$212,448$472,356
69$770,331$251,901$150,053$435,718
70$777,204$192,544$83,379$395,408
71$782,520$128,019$12,213$351,167
72$786,047$58,002$0$302,717
73$787,532$0$0$269,480
74$786,689$0$0$243,999
75$783,203$0$0$241,094
76$776,724$0$0$237,017
77$766,864$0$0$231,621
78$753,192$0$0$224,744
79$735,231$0$0$216,204
80$712,452$0$0$205,802
81$684,270$0$0$193,317
82$650,036$0$0$178,504
83$609,034$0$0$161,092
84$560,469$0$0$140,782
85$503,463$0$0$117,243
86$437,047$0$0$90,109
87$360,147$0$0$58,977
88$271,576$0$0$23,398
89$170,024$0$0$0
90$54,042$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