Can I retire at age 59 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$49,300$48,861$48,432$48,014$47,606$46,455
2 years$24,406$23,951$23,511$23,084$22,669$21,517
3 years$16,109$15,652$15,213$14,790$14,382$13,264
4 years$11,961$11,506$11,071$10,655$10,258$9,182
5 years$9,473$9,021$8,592$8,184$7,798$6,768
6 years$7,815$7,366$6,943$6,545$6,170$5,188
7 years$6,631$6,186$5,770$5,381$5,018$4,083
8 years$5,744$5,303$4,893$4,514$4,163$3,274
9 years$5,054$4,617$4,215$3,845$3,506$2,663
10 years$4,502$4,070$3,674$3,314$2,987$2,189
11 years$4,051$3,623$3,235$2,885$2,569$1,815
12 years$3,676$3,252$2,871$2,530$2,226$1,515
13 years$3,358$2,939$2,565$2,234$1,941$1,272
14 years$3,086$2,671$2,305$1,983$1,702$1,072
15 years$2,851$2,440$2,081$1,768$1,498$907
16 years$2,645$2,239$1,887$1,583$1,324$769
17 years$2,463$2,062$1,717$1,423$1,174$654
18 years$2,302$1,905$1,567$1,282$1,044$558
19 years$2,158$1,766$1,435$1,158$931$476
20 years$2,029$1,641$1,317$1,049$831$407
21 years$1,912$1,528$1,211$952$744$349
22 years$1,806$1,427$1,116$866$667$299
23 years$1,709$1,334$1,031$788$598$257
24 years$1,621$1,250$953$719$538$220
25 years$1,539$1,173$883$657$484$189
26 years$1,464$1,103$819$601$436$163
27 years$1,395$1,038$760$550$393$140
28 years$1,331$978$707$504$355$121
29 years$1,271$922$658$462$320$104
30 years$1,215$871$613$424$289$89
31 years$1,163$824$571$389$262$77
32 years$1,115$779$533$358$237$66
33 years$1,069$738$498$329$214$57
34 years$1,026$699$465$303$194$49
35 years$986$663$435$279$176$42
36 years$948$630$407$257$159$37
37 years$912$598$381$236$144$32
38 years$879$568$356$218$131$27
39 years$847$540$334$201$119$23
40 years$816$514$313$185$108$20
41 years$787$489$293$171$98$17
42 years$760$466$275$158$89$15
43 years$734$444$258$146$80$13
44 years$709$423$242$135$73$11
45 years$686$404$228$124$66$10
46 years$663$385$214$115$60$8
47 years$642$368$201$106$55$7
48 years$621$351$189$98$50$6
49 years$602$335$177$91$45$5
50 years$583$320$167$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $597,000, adding $4,356 every year, while hoping to spend $44,798 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: 63/22/15 Blend
58$597,000$597,000$597,000$597,000
59$662,387$630,746$621,493$701,420
60$682,286$613,988$594,648$711,382
61$702,713$594,907$565,403$716,746
62$723,675$573,343$533,629$721,521
63$745,177$549,124$499,193$725,649
64$767,225$522,071$461,955$729,072
65$789,822$491,993$421,771$731,725
66$812,971$458,687$378,487$733,540
67$836,672$421,941$331,944$734,444
68$860,925$381,529$281,977$734,359
69$885,728$337,212$228,412$733,202
70$911,076$288,739$171,067$730,882
71$936,961$235,843$109,754$727,305
72$963,376$178,244$44,275$722,369
73$990,306$115,644$0$715,965
74$1,017,736$47,729$0$712,073
75$1,045,646$0$0$714,300
76$1,074,013$0$0$721,708
77$1,102,806$0$0$740,944
78$1,131,993$0$0$760,429
79$1,161,532$0$0$780,135
80$1,191,378$0$0$800,028
81$1,221,477$0$0$820,071
82$1,251,766$0$0$840,219
83$1,282,173$0$0$860,422
84$1,312,619$0$0$880,622
85$1,343,009$0$0$900,754
86$1,373,238$0$0$920,744
87$1,403,189$0$0$940,510
88$1,432,725$0$0$959,955
89$1,461,696$0$0$978,974
90$1,489,931$0$0$997,449
91$1,517,240$0$0$1,015,244
92$1,543,407$0$0$1,032,210
93$1,568,192$0$0$1,048,179
94$1,591,327$0$0$1,062,963
95$1,612,512$0$0$1,076,353
96$1,631,412$0$0$1,088,116
97$1,647,655$0$0$1,097,991
98$1,660,824$0$0$1,105,687
99$1,670,457$0$0$1,110,884
100$1,676,041$0$0$1,113,221