Can I retire at age 59 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$51,529$51,070$50,623$50,185$49,759$48,694
2 years$25,510$25,034$24,574$24,128$23,695$22,627
3 years$16,837$16,360$15,901$15,459$15,033$13,996
4 years$12,502$12,027$11,572$11,137$10,722$9,723
5 years$9,902$9,429$8,980$8,554$8,150$7,194
6 years$8,169$7,699$7,257$6,841$6,449$5,535
7 years$6,931$6,466$6,031$5,624$5,245$4,373
8 years$6,004$5,543$5,115$4,718$4,351$3,521
9 years$5,283$4,826$4,405$4,019$3,664$2,876
10 years$4,706$4,254$3,841$3,464$3,122$2,375
11 years$4,235$3,787$3,381$3,015$2,685$1,978
12 years$3,842$3,399$3,001$2,645$2,327$1,658
13 years$3,510$3,072$2,681$2,335$2,029$1,398
14 years$3,226$2,792$2,409$2,073$1,779$1,184
15 years$2,980$2,551$2,175$1,848$1,566$1,007
16 years$2,765$2,340$1,972$1,655$1,384$859
17 years$2,575$2,155$1,794$1,487$1,227$734
18 years$2,407$1,991$1,638$1,340$1,091$629
19 years$2,256$1,846$1,499$1,211$973$540
20 years$2,121$1,715$1,376$1,097$869$464
21 years$1,999$1,597$1,266$995$777$400
22 years$1,888$1,491$1,167$905$697$344
23 years$1,786$1,395$1,077$824$626$297
24 years$1,694$1,307$996$752$562$257
25 years$1,609$1,226$923$686$506$222
26 years$1,530$1,153$856$628$456$192
27 years$1,458$1,085$795$575$411$166
28 years$1,391$1,022$739$526$371$144
29 years$1,328$964$687$483$335$124
30 years$1,270$911$640$443$302$108
31 years$1,216$861$597$407$273$93
32 years$1,165$814$557$374$247$81
33 years$1,117$771$520$344$224$70
34 years$1,073$731$486$316$203$61
35 years$1,031$693$454$291$184$53
36 years$991$658$425$268$166$46
37 years$954$625$398$247$151$40
38 years$918$594$372$228$137$34
39 years$885$565$349$210$124$30
40 years$853$537$327$194$112$26
41 years$823$512$307$179$102$22
42 years$794$487$288$165$93$19
43 years$767$464$270$152$84$17
44 years$741$443$253$141$76$15
45 years$717$422$238$130$69$13
46 years$693$403$223$120$63$11
47 years$671$384$210$111$57$10
48 years$649$367$197$102$52$8
49 years$629$350$185$95$47$7
50 years$609$335$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 $624,000, adding $3,020 every year, while hoping to spend $33,335 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: 54/41/5 Blend
58$624,000$624,000$624,000$624,000
59$690,763$657,691$648,019$727,173
60$725,753$654,450$634,260$748,854
61$763,194$649,932$618,922$768,485
62$803,302$644,041$601,918$789,029
63$846,312$636,673$583,156$810,576
64$892,483$627,717$562,538$833,228
65$942,099$617,057$539,966$857,100
66$995,471$604,571$515,332$882,317
67$1,052,941$590,127$488,528$909,023
68$1,114,885$573,587$459,438$937,374
69$1,181,715$554,805$427,941$967,548
70$1,253,885$533,625$393,912$999,741
71$1,331,892$509,884$357,219$1,034,172
72$1,416,286$483,408$317,726$1,071,085
73$1,507,666$454,014$275,289$1,110,753
74$1,606,695$421,508$229,758$1,153,478
75$1,714,100$385,684$180,977$1,199,597
76$1,830,681$346,326$128,783$1,249,485
77$1,957,319$303,204$73,005$1,303,557
78$2,094,980$256,076$13,466$1,362,276
79$2,244,731$204,687$0$1,426,157
80$2,407,742$148,765$0$1,498,442
81$2,585,303$88,026$0$1,578,033
82$2,778,832$22,167$0$1,664,928
83$2,989,891$0$0$1,759,917
84$3,220,198$0$0$1,886,043
85$3,471,644$0$0$2,034,721
86$3,746,312$0$0$2,197,188
87$4,046,493$0$0$2,374,807
88$4,374,712$0$0$2,569,078
89$4,733,747$0$0$2,781,655
90$5,126,656$0$0$3,014,355
91$5,556,810$0$0$3,269,184
92$6,027,918$0$0$3,548,347
93$6,544,064$0$0$3,854,275
94$7,109,748$0$0$4,189,643
95$7,729,924$0$0$4,557,400
96$8,410,051$0$0$4,960,790
97$9,156,138$0$0$5,403,390
98$9,974,807$0$0$5,889,138
99$10,873,349$0$0$6,422,372
100$11,859,797$0$0$7,007,871