Can I retire at age 59 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$48,474$48,042$47,621$47,210$46,808$46,242
2 years$23,997$23,550$23,117$22,697$22,290$21,720
3 years$15,839$15,390$14,958$14,542$14,141$13,586
4 years$11,761$11,313$10,886$10,477$10,086$9,549
5 years$9,315$8,870$8,448$8,047$7,667$7,150
6 years$7,684$7,243$6,827$6,435$6,067$5,570
7 years$6,520$6,083$5,673$5,291$4,934$4,458
8 years$5,648$5,214$4,811$4,438$4,093$3,638
9 years$4,969$4,540$4,144$3,781$3,447$3,012
10 years$4,427$4,001$3,613$3,259$2,937$2,523
11 years$3,983$3,562$3,181$2,836$2,526$2,131
12 years$3,614$3,197$2,823$2,488$2,189$1,814
13 years$3,302$2,889$2,522$2,196$1,909$1,553
14 years$3,035$2,626$2,266$1,950$1,673$1,336
15 years$2,803$2,399$2,046$1,739$1,473$1,153
16 years$2,601$2,201$1,855$1,557$1,302$1,000
17 years$2,422$2,027$1,688$1,399$1,154$869
18 years$2,264$1,873$1,541$1,261$1,027$757
19 years$2,122$1,736$1,411$1,139$915$661
20 years$1,995$1,613$1,295$1,032$817$578
21 years$1,880$1,503$1,191$936$731$506
22 years$1,776$1,403$1,097$851$656$444
23 years$1,680$1,312$1,013$775$588$390
24 years$1,593$1,229$937$707$529$343
25 years$1,513$1,154$868$646$476$302
26 years$1,440$1,084$805$590$429$266
27 years$1,371$1,020$748$540$387$234
28 years$1,308$961$695$495$349$207
29 years$1,250$907$647$454$315$182
30 years$1,195$857$602$417$285$161
31 years$1,144$810$562$383$257$142
32 years$1,096$766$524$352$233$125
33 years$1,051$726$489$323$211$111
34 years$1,009$688$457$298$191$98
35 years$970$652$427$274$173$87
36 years$932$619$400$252$156$77
37 years$897$588$374$232$142$68
38 years$864$559$350$214$129$60
39 years$832$531$328$198$117$53
40 years$803$506$308$182$106$47
41 years$774$481$289$168$96$42
42 years$747$458$271$155$87$37
43 years$722$437$254$143$79$33
44 years$697$416$238$132$72$29
45 years$674$397$224$122$65$25
46 years$652$379$210$113$59$23
47 years$631$361$198$104$54$20
48 years$611$345$186$96$49$18
49 years$592$329$174$89$44$16
50 years$573$315$164$82$40$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $587,000, adding $3,092 every year, while hoping to spend $45,153 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: 82/8/10 Blend
58$587,000$587,000$587,000$587,000
59$650,063$618,952$609,854$702,104
60$668,327$601,239$582,242$718,926
61$686,941$581,144$552,191$731,091
62$705,892$558,503$519,572$743,087
63$725,166$533,142$484,251$754,871
64$744,745$504,879$446,086$766,398
65$764,608$473,517$404,929$777,618
66$784,730$438,851$360,625$788,473
67$805,081$400,663$313,015$798,904
68$825,628$358,724$261,930$808,843
69$846,332$312,791$207,194$818,216
70$867,146$262,606$148,623$826,942
71$888,020$207,899$86,027$834,931
72$908,894$148,382$19,205$842,087
73$929,702$83,753$0$848,301
74$950,367$13,693$0$859,016
75$970,804$0$0$871,092
76$990,916$0$0$887,828
77$1,010,594$0$0$905,370
78$1,029,715$0$0$922,401
79$1,048,141$0$0$938,797
80$1,065,719$0$0$954,418
81$1,082,276$0$0$969,108
82$1,097,619$0$0$982,693
83$1,111,533$0$0$994,978
84$1,123,777$0$0$1,005,745
85$1,134,086$0$0$1,014,753
86$1,142,159$0$0$1,021,732
87$1,147,667$0$0$1,026,382
88$1,150,240$0$0$1,028,370
89$1,149,469$0$0$1,027,326
90$1,144,899$0$0$1,022,839
91$1,136,026$0$0$1,014,451
92$1,122,291$0$0$1,001,657
93$1,103,071$0$0$983,896
94$1,077,679$0$0$960,546
95$1,045,354$0$0$930,917
96$1,005,251$0$0$894,246
97$956,435$0$0$849,688
98$897,872$0$0$796,309
99$828,418$0$0$733,074
100$746,807$0$0$658,839