Can I retire at age 59 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$51,364$50,907$50,460$50,025$49,599$48,919
2 years$25,428$24,954$24,495$24,050$23,619$22,934
3 years$16,783$16,308$15,850$15,409$14,985$14,318
4 years$12,462$11,988$11,535$11,101$10,687$10,043
5 years$9,870$9,399$8,951$8,527$8,124$7,504
6 years$8,143$7,675$7,234$6,819$6,428$5,833
7 years$6,909$6,445$6,012$5,606$5,228$4,658
8 years$5,984$5,525$5,098$4,703$4,337$3,793
9 years$5,266$4,810$4,391$4,006$3,653$3,133
10 years$4,691$4,240$3,828$3,453$3,112$2,617
11 years$4,221$3,775$3,370$3,005$2,677$2,206
12 years$3,830$3,388$2,991$2,636$2,319$1,872
13 years$3,499$3,062$2,672$2,327$2,023$1,599
14 years$3,215$2,783$2,401$2,066$1,773$1,371
15 years$2,970$2,542$2,168$1,842$1,561$1,181
16 years$2,756$2,333$1,966$1,650$1,380$1,021
17 years$2,567$2,148$1,789$1,482$1,223$885
18 years$2,399$1,985$1,633$1,336$1,088$769
19 years$2,249$1,840$1,495$1,207$970$669
20 years$2,114$1,710$1,372$1,093$866$583
21 years$1,992$1,592$1,262$992$775$510
22 years$1,882$1,486$1,163$902$695$446
23 years$1,781$1,390$1,074$822$624$390
24 years$1,688$1,303$993$749$560$342
25 years$1,604$1,222$920$684$504$300
26 years$1,525$1,149$853$626$454$263
27 years$1,453$1,081$792$573$410$231
28 years$1,386$1,019$736$525$370$203
29 years$1,324$961$685$481$334$179
30 years$1,266$908$638$442$302$157
31 years$1,212$858$595$406$273$138
32 years$1,161$812$555$373$247$122
33 years$1,114$769$518$343$223$107
34 years$1,069$729$484$315$202$95
35 years$1,027$691$453$290$183$83
36 years$988$656$424$267$166$73
37 years$951$623$396$246$150$65
38 years$915$592$371$227$136$57
39 years$882$563$348$209$124$50
40 years$850$536$326$193$112$44
41 years$820$510$306$178$102$39
42 years$792$486$287$164$92$35
43 years$765$463$269$152$84$30
44 years$739$441$253$140$76$27
45 years$714$421$237$129$69$24
46 years$691$401$223$120$63$21
47 years$669$383$209$110$57$18
48 years$647$366$197$102$52$16
49 years$627$349$185$94$47$14
50 years$607$333$174$87$43$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $622,000, adding $3,401 every year, while hoping to spend $29,651 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: 55/24/21 Blend
58$622,000$622,000$622,000$622,000
59$688,952$655,986$646,345$722,742
60$727,677$656,581$636,449$746,840
61$769,358$656,211$625,228$769,649
62$814,265$654,798$612,606$793,849
63$862,695$652,259$598,504$819,582
64$914,975$648,504$582,838$847,005
65$971,462$643,440$565,523$876,293
66$1,032,550$636,968$546,467$907,640
67$1,098,672$628,982$525,576$941,262
68$1,170,304$619,369$502,750$977,396
69$1,247,969$608,012$477,886$1,016,309
70$1,332,242$594,785$450,875$1,058,293
71$1,423,756$579,554$421,604$1,103,673
72$1,523,206$562,179$389,955$1,152,811
73$1,631,358$542,511$355,804$1,206,107
74$1,749,054$520,392$319,021$1,264,002
75$1,877,222$495,656$279,472$1,326,988
76$2,016,880$468,124$237,016$1,395,608
77$2,169,151$437,611$191,505$1,470,462
78$2,335,270$403,920$142,786$1,552,217
79$2,516,596$366,840$90,698$1,641,608
80$2,714,626$326,153$35,074$1,739,453
81$2,931,007$281,624$0$1,846,651
82$3,167,553$233,007$0$1,969,644
83$3,426,260$180,041$0$2,112,832
84$3,709,328$122,452$0$2,269,613
85$4,019,177$59,949$0$2,441,379
86$4,358,472$0$0$2,629,669
87$4,730,150$0$0$2,838,234
88$5,137,443$0$0$3,084,190
89$5,583,911$0$0$3,353,861
90$6,073,476$0$0$3,649,625
91$6,610,458$0$0$3,974,096
92$7,199,612$0$0$4,330,159
93$7,846,179$0$0$4,720,987
94$8,555,930$0$0$5,150,078
95$9,335,223$0$0$5,621,284
96$10,191,062$0$0$6,138,849
97$11,131,161$0$0$6,707,447
98$12,164,020$0$0$7,332,230
99$13,299,000$0$0$8,018,869
100$14,546,418$0$0$8,773,617