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%15.5%
1 years$51,447$50,988$50,541$50,105$49,679$48,557
2 years$25,469$24,994$24,535$24,089$23,657$22,532
3 years$16,810$16,334$15,876$15,434$15,009$13,917
4 years$12,482$12,007$11,553$11,119$10,704$9,654
5 years$9,886$9,414$8,966$8,541$8,137$7,131
6 years$8,156$7,687$7,246$6,830$6,439$5,477
7 years$6,920$6,456$6,021$5,615$5,236$4,320
8 years$5,994$5,534$5,106$4,711$4,344$3,473
9 years$5,274$4,818$4,398$4,012$3,658$2,832
10 years$4,698$4,247$3,834$3,459$3,117$2,334
11 years$4,228$3,781$3,376$3,010$2,681$1,940
12 years$3,836$3,393$2,996$2,640$2,323$1,623
13 years$3,504$3,067$2,677$2,331$2,026$1,366
14 years$3,221$2,787$2,405$2,069$1,776$1,155
15 years$2,975$2,546$2,171$1,845$1,564$979
16 years$2,760$2,336$1,969$1,652$1,382$833
17 years$2,571$2,152$1,791$1,485$1,225$711
18 years$2,403$1,988$1,635$1,338$1,089$608
19 years$2,252$1,843$1,497$1,209$971$521
20 years$2,117$1,712$1,374$1,095$867$447
21 years$1,995$1,595$1,264$994$776$384
22 years$1,885$1,489$1,165$903$696$330
23 years$1,784$1,392$1,075$823$625$284
24 years$1,691$1,305$995$750$561$245
25 years$1,606$1,224$921$685$505$211
26 years$1,528$1,151$854$627$455$182
27 years$1,456$1,083$793$574$410$157
28 years$1,389$1,020$738$526$370$136
29 years$1,326$963$686$482$334$117
30 years$1,268$909$639$442$302$101
31 years$1,214$859$596$406$273$87
32 years$1,163$813$556$373$247$76
33 years$1,116$770$519$343$224$65
34 years$1,071$730$485$316$202$56
35 years$1,029$692$454$291$183$49
36 years$989$657$424$268$166$42
37 years$952$624$397$247$151$37
38 years$917$593$372$227$136$32
39 years$883$564$348$210$124$27
40 years$852$537$327$193$112$24
41 years$822$511$306$178$102$21
42 years$793$486$287$165$92$18
43 years$766$463$270$152$84$15
44 years$740$442$253$140$76$13
45 years$716$421$238$130$69$12
46 years$692$402$223$120$63$10
47 years$670$384$210$111$57$9
48 years$648$366$197$102$52$7
49 years$628$350$185$94$47$6
50 years$608$334$174$87$43$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $623,000, adding $5,240 every year, while hoping to spend $29,039 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: 33/39/28 Blend
58$623,000$623,000$623,000$623,000
59$691,951$658,932$649,276$708,762
60$731,633$660,322$640,129$723,371
61$774,389$660,808$629,703$736,161
62$820,502$660,313$617,923$749,382
63$870,283$658,758$604,714$763,091
64$924,074$656,059$589,994$777,355
65$982,249$652,126$573,678$792,250
66$1,045,222$646,864$555,680$807,860
67$1,113,446$640,171$535,907$824,283
68$1,187,420$631,942$514,261$841,629
69$1,267,691$622,061$490,644$860,021
70$1,354,864$610,410$464,948$879,600
71$1,449,601$596,861$437,065$900,522
72$1,552,632$581,279$406,878$922,966
73$1,664,760$563,522$374,269$947,129
74$1,786,869$543,437$339,110$973,234
75$1,919,930$520,867$301,271$1,001,533
76$2,065,014$495,640$260,614$1,032,305
77$2,223,297$467,579$216,997$1,065,863
78$2,396,077$436,494$170,270$1,102,560
79$2,584,780$402,184$120,276$1,142,786
80$2,790,975$364,439$66,854$1,186,979
81$3,016,393$323,035$9,832$1,235,627
82$3,262,937$277,735$0$1,289,274
83$3,532,702$228,290$0$1,363,771
84$3,827,997$174,437$0$1,448,674
85$4,151,364$115,895$0$1,541,854
86$4,505,601$52,372$0$1,644,208
87$4,893,790$0$0$1,756,728
88$5,319,326$0$0$1,887,572
89$5,785,948$0$0$2,055,788
90$6,297,772$0$0$2,240,395
91$6,859,334$0$0$2,443,043
92$7,475,631$0$0$2,665,545
93$8,152,164$0$0$2,909,902
94$8,894,994$0$0$3,178,317
95$9,710,800$0$0$3,473,215
96$10,606,937$0$0$3,797,270
97$11,591,506$0$0$4,153,427
98$12,673,436$0$0$4,544,931
99$13,862,560$0$0$4,975,355
100$15,169,712$0$0$5,448,638