Can I retire at age 59 with 606,000?

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 $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$50,043$49,597$49,162$48,738$48,323$47,979
2 years$24,774$24,312$23,865$23,432$23,011$22,663
3 years$16,352$15,888$15,442$15,013$14,599$14,259
4 years$12,142$11,680$11,238$10,816$10,412$10,083
5 years$9,616$9,157$8,721$8,308$7,915$7,597
6 years$7,933$7,477$7,048$6,644$6,263$5,957
7 years$6,731$6,279$5,857$5,462$5,094$4,800
8 years$5,830$5,383$4,967$4,582$4,226$3,944
9 years$5,130$4,687$4,278$3,903$3,559$3,289
10 years$4,570$4,131$3,730$3,364$3,032$2,774
11 years$4,112$3,678$3,284$2,928$2,608$2,361
12 years$3,731$3,301$2,914$2,568$2,260$2,025
13 years$3,409$2,983$2,604$2,267$1,971$1,747
14 years$3,133$2,711$2,339$2,013$1,727$1,514
15 years$2,894$2,477$2,112$1,795$1,521$1,318
16 years$2,685$2,273$1,915$1,607$1,344$1,152
17 years$2,501$2,093$1,743$1,444$1,192$1,010
18 years$2,337$1,934$1,591$1,301$1,060$887
19 years$2,191$1,792$1,456$1,176$945$781
20 years$2,060$1,666$1,336$1,065$844$689
21 years$1,941$1,551$1,229$967$755$609
22 years$1,833$1,448$1,133$879$677$539
23 years$1,735$1,354$1,046$800$608$478
24 years$1,645$1,269$967$730$546$424
25 years$1,562$1,191$896$667$491$377
26 years$1,486$1,119$831$610$443$335
27 years$1,416$1,053$772$558$399$298
28 years$1,351$993$717$511$360$265
29 years$1,290$936$668$469$325$236
30 years$1,234$884$622$430$294$211
31 years$1,181$836$580$395$266$188
32 years$1,132$791$541$363$240$168
33 years$1,085$749$505$334$217$150
34 years$1,042$710$472$307$197$134
35 years$1,001$673$441$283$178$119
36 years$962$639$413$260$162$107
37 years$926$607$386$240$146$95
38 years$892$577$362$221$133$85
39 years$859$549$339$204$120$76
40 years$828$522$318$188$109$68
41 years$799$497$298$174$99$61
42 years$772$473$279$160$90$54
43 years$745$451$262$148$82$49
44 years$720$430$246$137$74$43
45 years$696$410$231$126$67$39
46 years$673$391$217$116$61$35
47 years$651$373$204$108$55$31
48 years$631$356$192$99$50$28
49 years$611$340$180$92$46$25
50 years$592$325$169$85$42$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $606,000, adding $6,988 every year, while hoping to spend $29,996 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: 48/40/12 Blend
58$606,000$606,000$606,000$606,000
59$675,020$642,902$633,509$704,865
60$711,957$642,489$622,816$725,743
61$751,655$641,050$610,760$744,716
62$794,366$638,504$597,262$764,641
63$840,364$634,763$582,243$785,618
64$889,950$629,735$565,617$807,755
65$943,456$623,323$547,296$831,178
66$1,001,246$615,423$527,188$856,023
67$1,063,719$605,925$505,195$882,443
68$1,131,315$594,712$481,216$910,611
69$1,204,518$581,661$455,145$940,716
70$1,283,858$566,642$426,872$972,972
71$1,369,921$549,516$396,281$1,007,615
72$1,463,347$530,137$363,250$1,044,909
73$1,564,844$508,350$327,655$1,085,146
74$1,675,190$483,990$289,363$1,128,653
75$1,795,238$456,885$248,236$1,175,793
76$1,925,931$426,851$204,130$1,226,968
77$2,068,303$393,694$156,896$1,282,626
78$2,223,494$357,209$106,376$1,343,265
79$2,392,758$317,179$52,406$1,409,436
80$2,577,473$273,375$0$1,481,753
81$2,779,161$225,556$0$1,561,559
82$2,999,493$173,465$0$1,656,150
83$3,240,309$116,833$0$1,759,667
84$3,503,637$55,374$0$1,873,063
85$3,791,708$0$0$1,997,392
86$4,106,979$0$0$2,138,756
87$4,452,156$0$0$2,320,281
88$4,830,219$0$0$2,519,167
89$5,244,448$0$0$2,737,149
90$5,698,458$0$0$2,976,138
91$6,196,227$0$0$3,238,237
92$6,742,140$0$0$3,525,764
93$7,341,023$0$0$3,841,272
94$7,998,195$0$0$4,187,572
95$8,719,512$0$0$4,567,760
96$9,511,427$0$0$4,985,250
97$10,381,047$0$0$5,443,797
98$11,336,201$0$0$5,947,544
99$12,385,513$0$0$6,501,049
100$13,538,486$0$0$7,109,338