Can I retire at age 59 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$51,447$50,988$50,541$50,105$49,679$48,517
2 years$25,469$24,994$24,535$24,089$23,657$22,493
3 years$16,810$16,334$15,876$15,434$15,009$13,879
4 years$12,482$12,007$11,553$11,119$10,704$9,618
5 years$9,886$9,414$8,966$8,541$8,137$7,097
6 years$8,156$7,687$7,246$6,830$6,439$5,445
7 years$6,920$6,456$6,021$5,615$5,236$4,290
8 years$5,994$5,534$5,106$4,711$4,344$3,445
9 years$5,274$4,818$4,398$4,012$3,658$2,805
10 years$4,698$4,247$3,834$3,459$3,117$2,309
11 years$4,228$3,781$3,376$3,010$2,681$1,917
12 years$3,836$3,393$2,996$2,640$2,323$1,602
13 years$3,504$3,067$2,677$2,331$2,026$1,346
14 years$3,221$2,787$2,405$2,069$1,776$1,136
15 years$2,975$2,546$2,171$1,845$1,564$963
16 years$2,760$2,336$1,969$1,652$1,382$818
17 years$2,571$2,152$1,791$1,485$1,225$697
18 years$2,403$1,988$1,635$1,338$1,089$595
19 years$2,252$1,843$1,497$1,209$971$509
20 years$2,117$1,712$1,374$1,095$867$436
21 years$1,995$1,595$1,264$994$776$374
22 years$1,885$1,489$1,165$903$696$321
23 years$1,784$1,392$1,075$823$625$276
24 years$1,691$1,305$995$750$561$237
25 years$1,606$1,224$921$685$505$204
26 years$1,528$1,151$854$627$455$176
27 years$1,456$1,083$793$574$410$151
28 years$1,389$1,020$738$526$370$131
29 years$1,326$963$686$482$334$113
30 years$1,268$909$639$442$302$97
31 years$1,214$859$596$406$273$84
32 years$1,163$813$556$373$247$72
33 years$1,116$770$519$343$224$62
34 years$1,071$730$485$316$202$54
35 years$1,029$692$454$291$183$47
36 years$989$657$424$268$166$40
37 years$952$624$397$247$151$35
38 years$917$593$372$227$136$30
39 years$883$564$348$210$124$26
40 years$852$537$327$193$112$22
41 years$822$511$306$178$102$19
42 years$793$486$287$165$92$17
43 years$766$463$270$152$84$14
44 years$740$442$253$140$76$12
45 years$716$421$238$130$69$11
46 years$692$402$223$120$63$9
47 years$670$384$210$111$57$8
48 years$648$366$197$102$52$7
49 years$628$350$185$94$47$6
50 years$608$334$174$87$43$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $623,000, adding $3,780 every year, while hoping to spend $31,864 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: 73/9/18 Blend
58$623,000$623,000$623,000$623,000
59$690,445$657,426$647,770$737,677
60$726,967$655,737$635,567$767,837
61$766,147$652,897$621,887$796,633
62$808,222$648,816$606,648$827,354
63$853,451$643,400$589,762$860,183
64$902,122$636,545$571,138$895,325
65$954,549$628,146$550,681$933,004
66$1,011,076$618,088$528,292$973,469
67$1,072,082$606,251$503,866$1,016,994
68$1,137,984$592,507$477,295$1,063,882
69$1,209,240$576,721$448,466$1,114,466
70$1,286,351$558,749$417,259$1,169,117
71$1,369,872$538,441$383,550$1,228,242
72$1,460,410$515,636$347,210$1,292,290
73$1,558,633$490,163$308,102$1,361,758
74$1,665,277$461,844$266,087$1,437,195
75$1,781,150$430,489$221,015$1,519,205
76$1,907,141$395,897$172,733$1,608,456
77$2,044,229$357,856$121,080$1,705,687
78$2,193,491$316,141$65,886$1,811,710
79$2,356,111$270,516$6,978$1,927,423
80$2,533,393$220,730$0$2,053,819
81$2,726,772$166,519$0$2,202,724
82$2,937,828$107,603$0$2,366,741
83$3,168,298$43,688$0$2,545,897
84$3,420,097$0$0$2,741,703
85$3,695,332$0$0$2,958,352
86$3,996,321$0$0$3,200,032
87$4,325,620$0$0$3,464,472
88$4,686,039$0$0$3,753,933
89$5,080,676$0$0$4,070,905
90$5,512,942$0$0$4,418,132
91$5,986,590$0$0$4,798,633
92$6,505,757$0$0$5,215,736
93$7,074,998$0$0$5,673,105
94$7,699,330$0$0$6,174,774
95$8,384,279$0$0$6,725,188
96$9,135,930$0$0$7,329,243
97$9,960,987$0$0$7,992,331
98$10,866,836$0$0$8,720,392
99$11,861,612$0$0$9,519,971
100$12,954,274$0$0$10,398,274