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%14%
1 years$51,199$50,743$50,298$49,864$49,440$48,621
2 years$25,346$24,874$24,417$23,973$23,543$22,720
3 years$16,730$16,255$15,799$15,360$14,936$14,136
4 years$12,422$11,949$11,498$11,066$10,653$9,880
5 years$9,838$9,369$8,923$8,500$8,098$7,356
6 years$8,116$7,650$7,211$6,797$6,408$5,696
7 years$6,887$6,425$5,992$5,588$5,211$4,531
8 years$5,965$5,507$5,082$4,688$4,323$3,674
9 years$5,249$4,795$4,377$3,993$3,641$3,023
10 years$4,676$4,226$3,816$3,442$3,102$2,514
11 years$4,207$3,763$3,360$2,996$2,668$2,110
12 years$3,817$3,377$2,982$2,628$2,312$1,783
13 years$3,488$3,052$2,664$2,320$2,016$1,515
14 years$3,205$2,774$2,393$2,059$1,767$1,294
15 years$2,961$2,534$2,161$1,836$1,556$1,109
16 years$2,747$2,325$1,959$1,644$1,375$954
17 years$2,558$2,141$1,783$1,477$1,219$822
18 years$2,391$1,979$1,627$1,331$1,084$711
19 years$2,242$1,834$1,490$1,203$966$616
20 years$2,107$1,704$1,367$1,090$863$534
21 years$1,986$1,587$1,258$989$772$464
22 years$1,875$1,482$1,159$899$692$404
23 years$1,775$1,386$1,070$819$622$352
24 years$1,683$1,298$990$747$559$306
25 years$1,598$1,218$917$682$503$267
26 years$1,521$1,145$850$624$453$233
27 years$1,449$1,078$790$571$408$204
28 years$1,382$1,016$734$523$368$178
29 years$1,320$958$683$480$333$156
30 years$1,262$905$636$440$301$136
31 years$1,208$855$593$404$272$119
32 years$1,158$809$553$372$246$104
33 years$1,110$766$517$342$222$91
34 years$1,066$726$483$314$201$80
35 years$1,024$689$451$289$182$70
36 years$985$654$422$267$165$61
37 years$948$621$395$246$150$54
38 years$912$590$370$226$136$47
39 years$879$561$347$209$123$41
40 years$848$534$325$192$112$36
41 years$818$508$305$178$101$32
42 years$789$484$286$164$92$28
43 years$762$461$268$151$83$24
44 years$737$440$252$140$76$21
45 years$712$419$236$129$69$19
46 years$689$400$222$119$62$16
47 years$667$382$209$110$57$14
48 years$645$364$196$102$51$13
49 years$625$348$184$94$47$11
50 years$605$332$173$87$42$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $620,000, adding $2,140 every year, while hoping to spend $42,588 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: 42/31/27 Blend
58$620,000$620,000$620,000$620,000
59$685,447$652,587$642,977$708,739
60$710,050$639,251$619,204$712,343
61$735,734$623,834$593,207$712,058
62$762,566$606,188$564,866$710,929
63$790,616$586,160$534,057$708,904
64$819,961$563,583$500,650$705,927
65$850,682$538,285$464,507$701,942
66$882,871$510,080$425,488$696,892
67$916,624$478,774$383,441$690,716
68$952,046$444,160$338,213$683,353
69$989,251$406,021$289,640$674,739
70$1,028,365$364,126$237,553$664,811
71$1,069,522$318,231$181,774$653,501
72$1,112,869$268,081$122,120$640,744
73$1,158,567$213,402$58,396$626,471
74$1,206,789$153,907$0$610,613
75$1,257,727$89,294$0$595,869
76$1,311,588$19,242$0$597,536
77$1,368,598$0$0$598,767
78$1,429,004$0$0$618,863
79$1,493,078$0$0$647,178
80$1,561,114$0$0$677,286
81$1,633,436$0$0$709,334
82$1,710,397$0$0$743,484
83$1,792,383$0$0$779,914
84$1,879,820$0$0$818,818
85$1,973,170$0$0$860,410
86$2,072,943$0$0$904,924
87$2,179,696$0$0$952,616
88$2,294,039$0$0$1,003,768
89$2,416,645$0$0$1,058,687
90$2,548,247$0$0$1,117,713
91$2,689,654$0$0$1,181,218
92$2,841,751$0$0$1,249,609
93$3,005,510$0$0$1,323,335
94$3,182,002$0$0$1,402,889
95$3,372,398$0$0$1,488,811
96$3,577,988$0$0$1,581,696
97$3,800,190$0$0$1,682,198
98$4,040,558$0$0$1,791,035
99$4,300,807$0$0$1,908,997
100$4,582,816$0$0$2,036,952