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%11.1%
1 years$51,447$50,988$50,541$50,105$49,679$49,449
2 years$25,469$24,994$24,535$24,089$23,657$23,424
3 years$16,810$16,334$15,876$15,434$15,009$14,781
4 years$12,482$12,007$11,553$11,119$10,704$10,484
5 years$9,886$9,414$8,966$8,541$8,137$7,924
6 years$8,156$7,687$7,246$6,830$6,439$6,233
7 years$6,920$6,456$6,021$5,615$5,236$5,039
8 years$5,994$5,534$5,106$4,711$4,344$4,154
9 years$5,274$4,818$4,398$4,012$3,658$3,476
10 years$4,698$4,247$3,834$3,459$3,117$2,943
11 years$4,228$3,781$3,376$3,010$2,681$2,514
12 years$3,836$3,393$2,996$2,640$2,323$2,164
13 years$3,504$3,067$2,677$2,331$2,026$1,874
14 years$3,221$2,787$2,405$2,069$1,776$1,631
15 years$2,975$2,546$2,171$1,845$1,564$1,426
16 years$2,760$2,336$1,969$1,652$1,382$1,251
17 years$2,571$2,152$1,791$1,485$1,225$1,101
18 years$2,403$1,988$1,635$1,338$1,089$971
19 years$2,252$1,843$1,497$1,209$971$859
20 years$2,117$1,712$1,374$1,095$867$761
21 years$1,995$1,595$1,264$994$776$676
22 years$1,885$1,489$1,165$903$696$601
23 years$1,784$1,392$1,075$823$625$535
24 years$1,691$1,305$995$750$561$477
25 years$1,606$1,224$921$685$505$426
26 years$1,528$1,151$854$627$455$380
27 years$1,456$1,083$793$574$410$340
28 years$1,389$1,020$738$526$370$304
29 years$1,326$963$686$482$334$272
30 years$1,268$909$639$442$302$244
31 years$1,214$859$596$406$273$218
32 years$1,163$813$556$373$247$196
33 years$1,116$770$519$343$224$176
34 years$1,071$730$485$316$202$158
35 years$1,029$692$454$291$183$141
36 years$989$657$424$268$166$127
37 years$952$624$397$247$151$114
38 years$917$593$372$227$136$102
39 years$883$564$348$210$124$92
40 years$852$537$327$193$112$83
41 years$822$511$306$178$102$74
42 years$793$486$287$165$92$67
43 years$766$463$270$152$84$60
44 years$740$442$253$140$76$54
45 years$716$421$238$130$69$49
46 years$692$402$223$120$63$44
47 years$670$384$210$111$57$39
48 years$648$366$197$102$52$35
49 years$628$350$185$94$47$32
50 years$608$334$174$87$43$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $623,000, adding $6,292 every year, while hoping to spend $20,105 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: 61/12/27 Blend
58$623,000$623,000$623,000$623,000
59$693,036$660,017$650,361$729,935
60$742,334$670,966$650,756$766,714
61$795,987$681,778$650,491$804,119
62$854,417$692,425$649,522$844,521
63$918,090$702,877$647,804$888,214
64$987,519$713,101$645,288$935,528
65$1,063,266$723,063$641,926$986,821
66$1,145,952$732,726$637,663$1,042,492
67$1,236,261$742,051$632,447$1,102,980
68$1,334,944$750,996$626,218$1,168,770
69$1,442,829$759,516$618,918$1,240,394
70$1,560,828$767,562$610,481$1,318,443
71$1,689,944$775,084$600,844$1,403,565
72$1,831,282$782,027$589,935$1,496,478
73$1,986,058$788,332$577,684$1,597,973
74$2,155,613$793,938$564,014$1,708,920
75$2,341,423$798,778$548,845$1,830,282
76$2,545,112$802,782$532,096$1,963,119
77$2,768,471$805,876$513,679$2,108,601
78$3,013,471$807,979$493,503$2,268,017
79$3,282,283$809,009$471,473$2,442,791
80$3,577,300$808,873$447,491$2,634,492
81$3,901,155$807,479$421,452$2,844,849
82$4,256,750$804,723$393,249$3,075,770
83$4,647,284$800,500$362,768$3,329,360
84$5,076,277$794,694$329,890$3,607,939
85$5,547,608$787,185$294,493$3,914,064
86$6,065,552$777,845$256,447$4,250,557
87$6,634,818$766,539$215,616$4,620,528
88$7,260,591$753,121$171,862$5,027,407
89$7,948,588$737,441$125,036$5,474,976
90$8,705,104$719,335$74,984$5,967,403
91$9,537,076$698,634$21,548$6,509,286
92$10,452,147$675,156$0$7,105,693
93$11,458,737$648,710$0$7,772,433
94$12,566,124$619,093$0$8,512,734
95$13,784,531$586,090$0$9,327,226
96$15,125,219$549,475$0$10,223,452
97$16,600,601$509,008$0$11,209,723
98$18,224,348$464,436$0$12,295,199
99$20,011,527$415,489$0$13,489,974
100$21,978,740$361,886$0$14,805,170