Can I retire at age 59 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$50,869$50,416$49,974$49,542$49,121$48,893
2 years$25,183$24,714$24,259$23,818$23,391$23,161
3 years$16,622$16,151$15,697$15,261$14,840$14,615
4 years$12,342$11,872$11,424$10,994$10,584$10,366
5 years$9,775$9,308$8,865$8,445$8,046$7,835
6 years$8,064$7,601$7,164$6,753$6,366$6,163
7 years$6,842$6,383$5,954$5,552$5,178$4,982
8 years$5,927$5,471$5,049$4,658$4,295$4,108
9 years$5,215$4,764$4,349$3,967$3,617$3,437
10 years$4,646$4,199$3,791$3,420$3,082$2,910
11 years$4,180$3,738$3,338$2,976$2,651$2,486
12 years$3,793$3,355$2,962$2,611$2,297$2,140
13 years$3,465$3,032$2,647$2,305$2,003$1,853
14 years$3,184$2,756$2,378$2,046$1,756$1,613
15 years$2,942$2,518$2,147$1,825$1,546$1,410
16 years$2,729$2,310$1,947$1,634$1,366$1,237
17 years$2,542$2,127$1,771$1,468$1,212$1,088
18 years$2,376$1,966$1,617$1,323$1,077$960
19 years$2,227$1,822$1,480$1,195$960$849
20 years$2,094$1,693$1,359$1,083$858$753
21 years$1,973$1,577$1,250$983$767$668
22 years$1,863$1,472$1,152$893$688$594
23 years$1,764$1,377$1,063$814$618$529
24 years$1,672$1,290$983$742$555$472
25 years$1,588$1,211$911$678$499$421
26 years$1,511$1,138$845$620$450$376
27 years$1,439$1,071$784$567$406$336
28 years$1,373$1,009$729$520$366$301
29 years$1,311$952$679$477$330$269
30 years$1,254$899$632$437$299$241
31 years$1,200$850$589$402$270$216
32 years$1,150$804$550$369$244$194
33 years$1,103$761$513$339$221$174
34 years$1,059$722$480$312$200$156
35 years$1,017$685$448$288$181$140
36 years$978$650$420$265$164$126
37 years$941$617$393$244$149$113
38 years$907$586$368$225$135$101
39 years$873$558$345$207$122$91
40 years$842$531$323$191$111$82
41 years$812$505$303$176$101$73
42 years$784$481$284$163$91$66
43 years$757$458$267$150$83$59
44 years$732$437$250$139$75$53
45 years$708$417$235$128$68$48
46 years$684$397$221$118$62$43
47 years$662$379$207$109$56$39
48 years$641$362$195$101$51$35
49 years$621$346$183$93$46$31
50 years$601$330$172$86$42$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $616,000, adding $2,092 every year, while hoping to spend $28,162 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: 53/17/30 Blend
58$616,000$616,000$616,000$616,000
59$680,990$648,342$638,794$711,260
60$720,487$650,147$630,229$734,321
61$763,068$651,096$620,434$756,392
62$809,020$651,118$609,337$779,864
63$858,654$650,137$596,864$804,884
64$912,315$648,071$582,937$831,614
65$970,380$644,837$567,475$860,234
66$1,033,267$640,341$550,393$890,946
67$1,101,430$634,488$531,602$923,970
68$1,175,374$627,176$511,008$959,553
69$1,255,651$618,296$488,515$997,970
70$1,342,867$607,733$464,021$1,039,522
71$1,437,693$595,365$437,419$1,084,545
72$1,540,863$581,064$408,598$1,133,413
73$1,653,188$564,692$377,442$1,186,537
74$1,775,557$546,106$343,830$1,244,374
75$1,908,950$525,151$307,635$1,307,430
76$2,054,446$501,667$268,724$1,376,266
77$2,213,233$475,482$226,960$1,451,500
78$2,386,617$446,415$182,197$1,533,821
79$2,576,037$414,274$134,286$1,623,986
80$2,783,076$378,857$83,067$1,722,836
81$3,009,478$339,949$28,378$1,831,300
82$3,257,162$297,324$0$1,950,407
83$3,528,243$250,743$0$2,090,891
84$3,825,048$199,954$0$2,254,728
85$4,150,140$144,688$0$2,434,273
86$4,506,342$84,666$0$2,631,126
87$4,896,762$19,588$0$2,847,047
88$5,324,825$0$0$3,083,981
89$5,794,301$0$0$3,353,583
90$6,309,343$0$0$3,653,433
91$6,874,526$0$0$3,982,539
92$7,494,890$0$0$4,343,841
93$8,175,984$0$0$4,740,582
94$8,923,923$0$0$5,176,331
95$9,745,442$0$0$5,655,020
96$10,647,962$0$0$6,180,984
97$11,639,656$0$0$6,758,993
98$12,729,529$0$0$7,394,308
99$13,927,502$0$0$8,092,720
100$15,244,504$0$0$8,860,613