Can I retire at age 59 with 623,000?

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 $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%14.4%
1 years$51,447$50,988$50,541$50,105$49,679$48,776
2 years$25,469$24,994$24,535$24,089$23,657$22,750
3 years$16,810$16,334$15,876$15,434$15,009$14,127
4 years$12,482$12,007$11,553$11,119$10,704$9,854
5 years$9,886$9,414$8,966$8,541$8,137$7,321
6 years$8,156$7,687$7,246$6,830$6,439$5,657
7 years$6,920$6,456$6,021$5,615$5,236$4,490
8 years$5,994$5,534$5,106$4,711$4,344$3,632
9 years$5,274$4,818$4,398$4,012$3,658$2,981
10 years$4,698$4,247$3,834$3,459$3,117$2,474
11 years$4,228$3,781$3,376$3,010$2,681$2,071
12 years$3,836$3,393$2,996$2,640$2,323$1,745
13 years$3,504$3,067$2,677$2,331$2,026$1,479
14 years$3,221$2,787$2,405$2,069$1,776$1,260
15 years$2,975$2,546$2,171$1,845$1,564$1,077
16 years$2,760$2,336$1,969$1,652$1,382$923
17 years$2,571$2,152$1,791$1,485$1,225$794
18 years$2,403$1,988$1,635$1,338$1,089$684
19 years$2,252$1,843$1,497$1,209$971$591
20 years$2,117$1,712$1,374$1,095$867$511
21 years$1,995$1,595$1,264$994$776$443
22 years$1,885$1,489$1,165$903$696$384
23 years$1,784$1,392$1,075$823$625$333
24 years$1,691$1,305$995$750$561$290
25 years$1,606$1,224$921$685$505$252
26 years$1,528$1,151$854$627$455$219
27 years$1,456$1,083$793$574$410$191
28 years$1,389$1,020$738$526$370$166
29 years$1,326$963$686$482$334$145
30 years$1,268$909$639$442$302$126
31 years$1,214$859$596$406$273$110
32 years$1,163$813$556$373$247$96
33 years$1,116$770$519$343$224$84
34 years$1,071$730$485$316$202$73
35 years$1,029$692$454$291$183$64
36 years$989$657$424$268$166$56
37 years$952$624$397$247$151$49
38 years$917$593$372$227$136$43
39 years$883$564$348$210$124$37
40 years$852$537$327$193$112$32
41 years$822$511$306$178$102$28
42 years$793$486$287$165$92$25
43 years$766$463$270$152$84$22
44 years$740$442$253$140$76$19
45 years$716$421$238$130$69$17
46 years$692$402$223$120$63$14
47 years$670$384$210$111$57$13
48 years$648$366$197$102$52$11
49 years$628$350$185$94$47$10
50 years$608$334$174$87$43$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $623,000, adding $6,238 every year, while hoping to spend $50,584 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: 81/6/13 Blend
58$623,000$623,000$623,000$623,000
59$692,980$659,961$650,305$746,899
60$709,844$638,479$618,269$761,713
61$726,731$614,248$583,465$770,739
62$743,593$587,081$545,746$779,169
63$760,370$556,779$504,959$786,920
64$776,998$523,131$460,946$793,899
65$793,403$485,916$413,539$800,003
66$809,502$444,897$362,564$805,121
67$825,200$399,826$307,839$809,128
68$840,393$350,441$249,174$811,888
69$854,963$296,462$186,371$813,254
70$868,779$237,598$119,224$813,061
71$881,691$173,537$47,515$811,128
72$893,536$103,952$0$807,258
73$904,129$28,499$0$805,258
74$913,265$0$0$808,159
75$920,717$0$0$812,648
76$926,228$0$0$817,277
77$929,518$0$0$819,914
78$930,270$0$0$820,278
79$928,136$0$0$818,055
80$922,729$0$0$812,900
81$913,617$0$0$804,428
82$900,324$0$0$792,214
83$882,322$0$0$775,784
84$859,023$0$0$754,615
85$829,779$0$0$728,128
86$793,870$0$0$695,680
87$750,502$0$0$656,561
88$698,794$0$0$609,985
89$637,771$0$0$555,081
90$566,356$0$0$490,887
91$483,359$0$0$416,340
92$387,461$0$0$330,264
93$277,208$0$0$231,359
94$150,991$0$0$118,189
95$7,034$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0