Can I retire at age 59 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$50,125$49,679$49,243$48,818$48,403$47,818
2 years$24,815$24,352$23,905$23,470$23,049$22,460
3 years$16,379$15,915$15,468$15,038$14,623$14,049
4 years$12,162$11,699$11,257$10,834$10,429$9,874
5 years$9,632$9,172$8,736$8,321$7,928$7,394
6 years$7,946$7,490$7,060$6,655$6,273$5,760
7 years$6,742$6,290$5,867$5,471$5,102$4,610
8 years$5,840$5,392$4,975$4,590$4,233$3,762
9 years$5,139$4,694$4,285$3,909$3,564$3,115
10 years$4,578$4,138$3,736$3,370$3,037$2,609
11 years$4,119$3,684$3,289$2,933$2,612$2,204
12 years$3,737$3,306$2,919$2,572$2,263$1,876
13 years$3,414$2,988$2,608$2,271$1,974$1,606
14 years$3,138$2,716$2,343$2,016$1,730$1,381
15 years$2,899$2,481$2,116$1,798$1,523$1,193
16 years$2,689$2,276$1,918$1,610$1,346$1,034
17 years$2,505$2,096$1,745$1,446$1,194$898
18 years$2,341$1,937$1,593$1,304$1,061$783
19 years$2,195$1,795$1,459$1,178$946$683
20 years$2,063$1,668$1,339$1,067$845$598
21 years$1,944$1,554$1,231$968$756$524
22 years$1,836$1,451$1,135$880$678$459
23 years$1,738$1,357$1,048$802$609$403
24 years$1,648$1,271$969$731$547$355
25 years$1,565$1,193$898$668$492$312
26 years$1,489$1,121$832$611$443$275
27 years$1,418$1,055$773$559$400$242
28 years$1,353$994$719$512$361$214
29 years$1,292$938$669$470$326$188
30 years$1,236$886$623$431$294$166
31 years$1,183$837$581$396$266$147
32 years$1,133$792$542$364$241$130
33 years$1,087$750$506$334$218$115
34 years$1,044$711$473$308$197$101
35 years$1,003$675$442$283$179$90
36 years$964$640$413$261$162$79
37 years$928$608$387$240$147$70
38 years$893$578$362$222$133$62
39 years$861$549$339$204$121$55
40 years$830$523$318$188$109$49
41 years$801$498$298$174$99$43
42 years$773$474$280$160$90$38
43 years$746$452$263$148$82$34
44 years$721$430$247$137$74$30
45 years$697$410$231$126$67$26
46 years$674$392$217$117$61$23
47 years$653$374$204$108$56$21
48 years$632$357$192$100$50$18
49 years$612$341$180$92$46$16
50 years$593$325$170$85$42$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $607,000, adding $4,288 every year, while hoping to spend $28,824 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: 71/20/9 Blend
58$607,000$607,000$607,000$607,000
59$673,337$641,166$631,758$719,735
60$711,349$641,915$622,253$751,740
61$752,272$641,734$611,464$782,800
62$796,373$640,548$599,317$816,012
63$843,944$638,276$585,735$851,580
64$895,307$634,832$570,638$889,731
65$950,815$630,126$553,941$930,715
66$1,010,857$624,061$535,558$974,807
67$1,075,860$616,536$515,394$1,022,311
68$1,146,293$607,441$493,355$1,073,563
69$1,222,672$596,663$469,339$1,128,934
70$1,305,564$584,079$443,242$1,188,832
71$1,395,595$569,561$414,953$1,253,709
72$1,493,449$552,974$384,358$1,324,062
73$1,599,883$534,171$351,336$1,400,441
74$1,715,727$513,002$315,762$1,483,453
75$1,841,897$489,304$277,505$1,573,767
76$1,979,397$462,907$236,428$1,672,122
77$2,129,335$433,629$192,389$1,779,334
78$2,292,930$401,280$145,237$1,896,301
79$2,471,524$365,658$94,817$2,024,017
80$2,666,593$326,549$40,967$2,163,577
81$2,879,763$283,727$0$2,316,190
82$3,112,823$236,953$0$2,484,775
83$3,367,743$185,977$0$2,673,521
84$3,646,695$130,531$0$2,880,130
85$3,952,065$70,335$0$3,106,413
86$4,286,486$5,091$0$3,354,366
87$4,652,854$0$0$3,626,190
88$5,054,360$0$0$3,938,730
89$5,494,517$0$0$4,282,617
90$5,977,195$0$0$4,659,757
91$6,506,657$0$0$5,073,486
92$7,087,597$0$0$5,527,476
93$7,725,187$0$0$6,025,772
94$8,425,123$0$0$6,572,831
95$9,193,680$0$0$7,173,561
96$10,037,768$0$0$7,833,371
97$10,965,003$0$0$8,558,216
98$11,983,773$0$0$9,354,660
99$13,103,318$0$0$10,229,931
100$14,333,818$0$0$11,191,994