Can I retire at age 59 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$51,199$50,743$50,298$49,864$49,440$48,701
2 years$25,346$24,874$24,417$23,973$23,543$22,800
3 years$16,730$16,255$15,799$15,360$14,936$14,213
4 years$12,422$11,949$11,498$11,066$10,653$9,954
5 years$9,838$9,369$8,923$8,500$8,098$7,426
6 years$8,116$7,650$7,211$6,797$6,408$5,764
7 years$6,887$6,425$5,992$5,588$5,211$4,595
8 years$5,965$5,507$5,082$4,688$4,323$3,735
9 years$5,249$4,795$4,377$3,993$3,641$3,080
10 years$4,676$4,226$3,816$3,442$3,102$2,568
11 years$4,207$3,763$3,360$2,996$2,668$2,160
12 years$3,817$3,377$2,982$2,628$2,312$1,830
13 years$3,488$3,052$2,664$2,320$2,016$1,559
14 years$3,205$2,774$2,393$2,059$1,767$1,335
15 years$2,961$2,534$2,161$1,836$1,556$1,148
16 years$2,747$2,325$1,959$1,644$1,375$990
17 years$2,558$2,141$1,783$1,477$1,219$856
18 years$2,391$1,979$1,627$1,331$1,084$742
19 years$2,242$1,834$1,490$1,203$966$644
20 years$2,107$1,704$1,367$1,090$863$561
21 years$1,986$1,587$1,258$989$772$489
22 years$1,875$1,482$1,159$899$692$426
23 years$1,775$1,386$1,070$819$622$373
24 years$1,683$1,298$990$747$559$326
25 years$1,598$1,218$917$682$503$285
26 years$1,521$1,145$850$624$453$250
27 years$1,449$1,078$790$571$408$219
28 years$1,382$1,016$734$523$368$192
29 years$1,320$958$683$480$333$168
30 years$1,262$905$636$440$301$148
31 years$1,208$855$593$404$272$130
32 years$1,158$809$553$372$246$114
33 years$1,110$766$517$342$222$100
34 years$1,066$726$483$314$201$88
35 years$1,024$689$451$289$182$77
36 years$985$654$422$267$165$68
37 years$948$621$395$246$150$60
38 years$912$590$370$226$136$52
39 years$879$561$347$209$123$46
40 years$848$534$325$192$112$41
41 years$818$508$305$178$101$36
42 years$789$484$286$164$92$31
43 years$762$461$268$151$83$28
44 years$737$440$252$140$76$24
45 years$712$419$236$129$69$21
46 years$689$400$222$119$62$19
47 years$667$382$209$110$57$17
48 years$645$364$196$102$51$15
49 years$625$348$184$94$47$13
50 years$605$332$173$87$42$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $620,000, adding $2,711 every year, while hoping to spend $44,010 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: 36/46/18 Blend
58$620,000$620,000$620,000$620,000
59$686,036$653,176$643,566$706,888
60$709,186$638,356$618,300$707,460
61$733,221$621,334$590,711$703,746
62$758,187$601,956$560,677$698,812
63$784,130$580,060$528,068$692,574
64$811,100$555,472$492,747$684,944
65$839,152$528,009$454,573$675,828
66$868,342$497,478$413,398$665,129
67$898,732$463,674$369,067$652,743
68$930,390$426,382$321,417$638,562
69$963,387$385,371$270,282$622,474
70$997,799$340,401$215,483$604,359
71$1,033,710$291,216$156,837$584,094
72$1,071,209$237,547$94,152$561,547
73$1,110,393$179,107$27,227$536,582
74$1,151,367$115,597$0$509,057
75$1,194,242$46,697$0$487,310
76$1,239,142$0$0$468,830
77$1,286,200$0$0$462,400
78$1,335,558$0$0$480,473
79$1,387,372$0$0$499,474
80$1,441,813$0$0$519,468
81$1,499,064$0$0$540,526
82$1,559,326$0$0$562,726
83$1,622,815$0$0$586,153
84$1,689,771$0$0$610,900
85$1,760,451$0$0$637,067
86$1,835,138$0$0$664,764
87$1,914,139$0$0$694,113
88$1,997,790$0$0$725,243
89$2,086,459$0$0$758,299
90$2,180,546$0$0$793,438
91$2,280,490$0$0$830,831
92$2,386,770$0$0$870,667
93$2,499,912$0$0$913,152
94$2,620,489$0$0$958,511
95$2,749,131$0$0$1,006,992
96$2,886,527$0$0$1,058,865
97$3,033,433$0$0$1,114,428
98$3,190,676$0$0$1,174,006
99$3,359,165$0$0$1,237,957
100$3,539,895$0$0$1,306,673