Can I retire at age 59 with 594,000?

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 $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$49,052$48,615$48,189$47,773$47,366$47,127
2 years$24,283$23,831$23,393$22,968$22,555$22,314
3 years$16,028$15,574$15,137$14,716$14,310$14,074
4 years$11,901$11,448$11,016$10,602$10,206$9,977
5 years$9,426$8,976$8,549$8,143$7,758$7,537
6 years$7,776$7,329$6,908$6,512$6,139$5,926
7 years$6,598$6,155$5,741$5,354$4,993$4,788
8 years$5,715$5,276$4,869$4,491$4,142$3,945
9 years$5,029$4,594$4,193$3,826$3,488$3,299
10 years$4,480$4,049$3,656$3,298$2,972$2,791
11 years$4,031$3,605$3,219$2,870$2,556$2,383
12 years$3,657$3,235$2,856$2,517$2,215$2,050
13 years$3,341$2,924$2,552$2,222$1,932$1,774
14 years$3,071$2,658$2,293$1,973$1,693$1,543
15 years$2,836$2,428$2,070$1,759$1,491$1,348
16 years$2,632$2,228$1,877$1,575$1,318$1,182
17 years$2,451$2,051$1,708$1,415$1,168$1,039
18 years$2,291$1,896$1,559$1,276$1,039$917
19 years$2,148$1,757$1,427$1,153$926$810
20 years$2,019$1,633$1,310$1,044$827$717
21 years$1,902$1,521$1,205$947$740$636
22 years$1,797$1,420$1,111$861$663$565
23 years$1,701$1,328$1,025$785$595$503
24 years$1,612$1,244$948$716$535$448
25 years$1,531$1,167$878$653$482$400
26 years$1,457$1,097$815$597$434$357
27 years$1,388$1,033$756$547$391$318
28 years$1,324$973$703$501$353$285
29 years$1,264$918$654$460$319$255
30 years$1,209$867$610$422$288$228
31 years$1,157$819$568$387$260$204
32 years$1,109$775$530$356$235$183
33 years$1,064$734$495$327$213$164
34 years$1,021$696$463$301$193$147
35 years$981$660$432$277$175$132
36 years$943$626$405$255$158$118
37 years$908$595$379$235$144$106
38 years$874$565$355$217$130$95
39 years$842$538$332$200$118$85
40 years$812$512$311$184$107$77
41 years$783$487$292$170$97$69
42 years$756$464$274$157$88$62
43 years$730$442$257$145$80$56
44 years$706$421$241$134$73$50
45 years$682$402$227$124$66$45
46 years$660$383$213$114$60$40
47 years$639$366$200$105$54$36
48 years$618$349$188$97$49$33
49 years$599$333$177$90$45$29
50 years$580$318$166$83$41$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $594,000, adding $5,185 every year, while hoping to spend $29,810 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: 74/19/7 Blend
58$594,000$594,000$594,000$594,000
59$659,936$628,454$619,247$707,756
60$695,532$627,531$608,275$739,035
61$733,760$625,563$595,935$769,011
62$774,856$622,469$582,152$801,000
63$819,081$618,159$566,843$835,191
64$866,720$612,542$549,926$871,792
65$918,088$605,519$531,310$911,033
66$973,528$596,985$510,905$953,168
67$1,033,420$586,829$488,612$998,477
68$1,098,180$574,934$464,331$1,047,268
69$1,168,264$561,176$437,956$1,099,881
70$1,244,176$545,423$409,377$1,156,694
71$1,326,469$527,536$378,478$1,218,121
72$1,415,751$507,366$345,139$1,284,618
73$1,512,689$484,759$309,233$1,356,693
74$1,618,020$459,549$270,629$1,434,901
75$1,732,553$431,562$229,189$1,519,858
76$1,857,177$400,612$184,771$1,612,243
77$1,992,872$366,504$137,223$1,712,805
78$2,140,714$329,033$86,390$1,822,369
79$2,301,891$287,979$32,108$1,941,848
80$2,477,706$243,113$0$2,072,248
81$2,669,597$194,190$0$2,216,607
82$2,879,145$140,954$0$2,376,907
83$3,108,089$83,133$0$2,552,111
84$3,358,347$20,439$0$2,743,726
85$3,632,029$0$0$2,953,412
86$3,931,456$0$0$3,192,916
87$4,259,187$0$0$3,459,761
88$4,618,039$0$0$3,751,971
89$5,011,112$0$0$4,072,075
90$5,441,823$0$0$4,422,858
91$5,913,933$0$0$4,807,387
92$6,431,586$0$0$5,229,040
93$6,999,343$0$0$5,691,538
94$7,622,231$0$0$6,198,978
95$8,305,787$0$0$6,755,874
96$9,056,106$0$0$7,367,199
97$9,879,907$0$0$8,038,429
98$10,784,587$0$0$8,775,597
99$11,778,299$0$0$9,585,350
100$12,870,020$0$0$10,475,008