Can I retire at age 59 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$49,135$48,697$48,270$47,853$47,446$46,718
2 years$24,324$23,871$23,432$23,006$22,593$21,861
3 years$16,055$15,600$15,162$14,740$14,334$13,621
4 years$11,921$11,468$11,034$10,620$10,223$9,535
5 years$9,442$8,991$8,563$8,157$7,772$7,110
6 years$7,789$7,342$6,920$6,523$6,149$5,515
7 years$6,609$6,165$5,751$5,363$5,001$4,394
8 years$5,725$5,285$4,877$4,499$4,149$3,569
9 years$5,037$4,602$4,201$3,832$3,494$2,942
10 years$4,487$4,056$3,662$3,303$2,977$2,451
11 years$4,038$3,611$3,224$2,875$2,560$2,061
12 years$3,663$3,241$2,861$2,522$2,219$1,745
13 years$3,347$2,929$2,556$2,226$1,935$1,486
14 years$3,076$2,662$2,297$1,976$1,696$1,271
15 years$2,841$2,432$2,074$1,762$1,493$1,092
16 years$2,636$2,231$1,880$1,578$1,320$941
17 years$2,455$2,055$1,711$1,418$1,170$813
18 years$2,295$1,899$1,562$1,278$1,041$704
19 years$2,151$1,760$1,430$1,155$927$611
20 years$2,022$1,635$1,312$1,046$828$532
21 years$1,906$1,523$1,207$949$741$463
22 years$1,800$1,422$1,112$863$664$404
23 years$1,703$1,330$1,027$786$596$352
24 years$1,615$1,246$950$717$536$308
25 years$1,534$1,169$880$655$482$269
26 years$1,459$1,099$816$599$435$236
27 years$1,390$1,034$758$548$392$206
28 years$1,326$975$704$502$354$181
29 years$1,267$919$655$460$319$158
30 years$1,211$868$611$422$288$139
31 years$1,159$821$569$388$261$122
32 years$1,111$777$531$357$236$107
33 years$1,066$735$496$328$213$94
34 years$1,023$697$463$302$193$82
35 years$983$661$433$278$175$72
36 years$945$628$405$256$159$64
37 years$909$596$379$236$144$56
38 years$876$566$355$217$130$49
39 years$844$539$333$200$118$43
40 years$813$512$312$185$107$38
41 years$785$488$292$170$97$33
42 years$758$465$274$157$88$29
43 years$732$443$257$145$80$26
44 years$707$422$242$134$73$23
45 years$683$402$227$124$66$20
46 years$661$384$213$114$60$17
47 years$640$366$200$106$54$15
48 years$619$350$188$98$49$14
49 years$600$334$177$90$45$12
50 years$581$319$166$83$41$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $595,000, adding $5,255 every year, while hoping to spend $32,479 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: 50/20/30 Blend
58$595,000$595,000$595,000$595,000
59$661,111$629,576$620,353$688,313
60$693,986$625,867$606,577$704,211
61$729,127$620,889$591,252$717,855
62$766,729$614,544$574,290$732,063
63$807,009$606,729$555,602$746,905
64$850,202$597,337$535,093$762,460
65$896,568$586,253$512,664$778,815
66$946,393$573,354$488,213$796,072
67$999,989$558,512$461,632$814,341
68$1,057,699$541,590$432,808$833,747
69$1,119,900$522,444$401,623$854,433
70$1,187,007$500,921$367,954$876,557
71$1,259,474$476,858$331,673$900,294
72$1,337,802$450,086$292,645$925,844
73$1,422,539$420,422$250,731$953,427
74$1,514,291$387,676$205,784$983,292
75$1,613,722$351,644$157,650$1,015,714
76$1,721,560$312,114$106,170$1,051,001
77$1,838,611$268,859$51,178$1,089,497
78$1,965,756$221,640$0$1,131,585
79$2,103,967$170,205$0$1,180,094
80$2,254,314$114,287$0$1,250,734
81$2,417,972$53,605$0$1,327,695
82$2,596,236$0$0$1,411,625
83$2,790,528$0$0$1,505,916
84$3,002,417$0$0$1,621,670
85$3,233,628$0$0$1,748,038
86$3,486,058$0$0$1,886,065
87$3,761,797$0$0$2,036,903
88$4,063,148$0$0$2,201,818
89$4,392,642$0$0$2,382,204
90$4,753,068$0$0$2,579,598
91$5,147,498$0$0$2,795,689
92$5,579,312$0$0$3,032,341
93$6,052,235$0$0$3,291,603
94$6,570,367$0$0$3,575,733
95$7,138,224$0$0$3,887,219
96$7,760,779$0$0$4,228,800
97$8,443,509$0$0$4,603,492
98$9,192,449$0$0$5,014,618
99$10,014,244$0$0$5,465,838
100$10,916,213$0$0$5,961,185