Can I retire at age 59 with 596,000?

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 $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%15.4%
1 years$49,217$48,779$48,351$47,934$47,526$46,471
2 years$24,365$23,911$23,471$23,045$22,631$21,574
3 years$16,082$15,626$15,188$14,765$14,358$13,332
4 years$11,941$11,487$11,053$10,637$10,240$9,253
5 years$9,457$9,006$8,577$8,171$7,785$6,838
6 years$7,802$7,354$6,932$6,534$6,160$5,255
7 years$6,620$6,176$5,760$5,372$5,009$4,148
8 years$5,734$5,294$4,885$4,506$4,156$3,336
9 years$5,046$4,609$4,208$3,839$3,500$2,722
10 years$4,495$4,063$3,668$3,309$2,982$2,245
11 years$4,045$3,617$3,230$2,880$2,565$1,867
12 years$3,670$3,246$2,866$2,526$2,222$1,563
13 years$3,353$2,934$2,561$2,230$1,938$1,316
14 years$3,081$2,667$2,301$1,980$1,699$1,113
15 years$2,846$2,436$2,077$1,765$1,496$945
16 years$2,641$2,235$1,883$1,581$1,322$805
17 years$2,459$2,058$1,714$1,420$1,172$687
18 years$2,299$1,902$1,564$1,280$1,042$588
19 years$2,155$1,763$1,432$1,157$929$504
20 years$2,026$1,638$1,314$1,047$830$433
21 years$1,909$1,526$1,209$951$743$372
22 years$1,803$1,424$1,114$864$666$320
23 years$1,706$1,332$1,029$787$597$276
24 years$1,618$1,248$951$718$537$238
25 years$1,537$1,171$881$656$483$205
26 years$1,462$1,101$817$600$435$177
27 years$1,393$1,036$759$549$392$153
28 years$1,328$976$706$503$354$132
29 years$1,269$921$657$461$320$114
30 years$1,213$870$612$423$289$99
31 years$1,161$822$570$389$261$85
32 years$1,113$778$532$357$236$74
33 years$1,067$737$497$328$214$64
34 years$1,025$698$464$302$194$55
35 years$984$662$434$278$175$48
36 years$947$629$406$256$159$41
37 years$911$597$380$236$144$36
38 years$877$567$356$218$131$31
39 years$845$540$333$201$118$27
40 years$815$513$312$185$107$23
41 years$786$489$293$171$97$20
42 years$759$465$275$158$88$18
43 years$733$443$258$145$80$15
44 years$708$423$242$134$73$13
45 years$685$403$227$124$66$11
46 years$662$384$213$115$60$10
47 years$641$367$201$106$55$9
48 years$620$350$188$98$49$7
49 years$601$334$177$90$45$6
50 years$582$320$167$84$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $596,000, adding $2,363 every year, while hoping to spend $46,480 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: 44/50/6 Blend
58$596,000$596,000$596,000$596,000
59$659,229$627,641$618,403$687,018
60$677,016$608,942$589,666$687,757
61$695,060$587,767$558,407$683,573
62$713,337$563,949$524,495$677,955
63$731,821$537,306$487,789$670,785
64$750,480$507,648$448,143$661,940
65$769,279$474,773$405,406$651,288
66$788,177$438,467$359,419$638,688
67$807,126$398,507$310,014$623,987
68$826,072$354,653$257,018$607,024
69$844,954$306,654$200,251$587,626
70$863,702$254,243$139,523$565,608
71$882,239$197,140$74,636$540,774
72$900,475$135,047$5,384$512,911
73$918,311$67,652$0$481,793
74$935,635$0$0$451,567
75$952,321$0$0$421,196
76$968,228$0$0$427,632
77$983,199$0$0$433,573
78$997,059$0$0$438,933
79$1,009,609$0$0$443,616
80$1,020,631$0$0$447,514
81$1,029,881$0$0$450,507
82$1,037,086$0$0$452,462
83$1,041,944$0$0$453,230
84$1,044,119$0$0$452,646
85$1,043,236$0$0$450,529
86$1,038,880$0$0$446,675
87$1,030,592$0$0$440,858
88$1,017,858$0$0$432,830
89$1,000,114$0$0$422,314
90$976,730$0$0$409,003
91$947,011$0$0$392,558
92$910,187$0$0$372,604
93$865,403$0$0$348,725
94$811,717$0$0$320,460
95$748,083$0$0$287,302
96$673,345$0$0$248,687
97$586,227$0$0$203,994
98$485,315$0$0$152,536
99$369,048$0$0$93,553
100$235,699$0$0$26,205