Can I retire at age 59 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$49,217$48,779$48,351$47,934$47,526$46,624
2 years$24,365$23,911$23,471$23,045$22,631$21,726
3 years$16,082$15,626$15,188$14,765$14,358$13,478
4 years$11,941$11,487$11,053$10,637$10,240$9,392
5 years$9,457$9,006$8,577$8,171$7,785$6,970
6 years$7,802$7,354$6,932$6,534$6,160$5,380
7 years$6,620$6,176$5,760$5,372$5,009$4,265
8 years$5,734$5,294$4,885$4,506$4,156$3,447
9 years$5,046$4,609$4,208$3,839$3,500$2,825
10 years$4,495$4,063$3,668$3,309$2,982$2,342
11 years$4,045$3,617$3,230$2,880$2,565$1,957
12 years$3,670$3,246$2,866$2,526$2,222$1,648
13 years$3,353$2,934$2,561$2,230$1,938$1,395
14 years$3,081$2,667$2,301$1,980$1,699$1,186
15 years$2,846$2,436$2,077$1,765$1,496$1,013
16 years$2,641$2,235$1,883$1,581$1,322$867
17 years$2,459$2,058$1,714$1,420$1,172$745
18 years$2,299$1,902$1,564$1,280$1,042$641
19 years$2,155$1,763$1,432$1,157$929$553
20 years$2,026$1,638$1,314$1,047$830$477
21 years$1,909$1,526$1,209$951$743$413
22 years$1,803$1,424$1,114$864$666$357
23 years$1,706$1,332$1,029$787$597$310
24 years$1,618$1,248$951$718$537$269
25 years$1,537$1,171$881$656$483$233
26 years$1,462$1,101$817$600$435$203
27 years$1,393$1,036$759$549$392$176
28 years$1,328$976$706$503$354$153
29 years$1,269$921$657$461$320$133
30 years$1,213$870$612$423$289$116
31 years$1,161$822$570$389$261$101
32 years$1,113$778$532$357$236$88
33 years$1,067$737$497$328$214$77
34 years$1,025$698$464$302$194$67
35 years$984$662$434$278$175$58
36 years$947$629$406$256$159$51
37 years$911$597$380$236$144$44
38 years$877$567$356$218$131$39
39 years$845$540$333$201$118$34
40 years$815$513$312$185$107$29
41 years$786$489$293$171$97$26
42 years$759$465$275$158$88$22
43 years$733$443$258$145$80$19
44 years$708$423$242$134$73$17
45 years$685$403$227$124$66$15
46 years$662$384$213$115$60$13
47 years$641$367$201$106$55$11
48 years$620$350$188$98$49$10
49 years$601$334$177$90$45$9
50 years$582$320$167$84$41$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $596,000, adding $3,023 every year, while hoping to spend $36,527 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: 58/37/5 Blend
58$596,000$596,000$596,000$596,000
59$659,910$628,322$619,084$697,404
60$688,357$620,246$600,959$714,829
61$718,480$610,549$581,003$729,385
62$750,414$599,114$559,115$744,326
63$784,302$585,817$535,191$759,692
64$820,303$570,524$509,122$775,526
65$858,591$553,096$480,794$791,879
66$899,354$533,385$450,088$808,808
67$942,800$511,233$416,878$826,380
68$989,157$486,475$381,034$844,668
69$1,038,673$458,934$342,421$863,756
70$1,091,621$428,426$300,896$883,739
71$1,148,301$394,753$256,311$904,725
72$1,209,040$357,708$208,510$926,835
73$1,274,199$317,072$157,331$950,205
74$1,344,171$272,613$102,605$974,989
75$1,419,391$224,085$44,157$1,001,360
76$1,500,333$171,230$0$1,029,513
77$1,587,521$113,774$0$1,060,636
78$1,681,528$51,429$0$1,096,580
79$1,782,984$0$0$1,135,271
80$1,892,582$0$0$1,183,586
81$2,011,083$0$0$1,258,506
82$2,139,322$0$0$1,339,624
83$2,278,220$0$0$1,427,528
84$2,428,787$0$0$1,522,863
85$2,592,135$0$0$1,626,338
86$2,769,486$0$0$1,738,735
87$2,962,185$0$0$1,860,911
88$3,171,710$0$0$1,993,811
89$3,399,690$0$0$2,138,473
90$3,647,915$0$0$2,296,043
91$3,918,354$0$0$2,467,777
92$4,213,177$0$0$2,655,060
93$4,534,768$0$0$2,859,417
94$4,885,755$0$0$3,082,524
95$5,269,028$0$0$3,326,229
96$5,687,771$0$0$3,592,565
97$6,145,486$0$0$3,883,769
98$6,646,032$0$0$4,202,306
99$7,193,654$0$0$4,550,889
100$7,793,031$0$0$4,932,505