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%13.4%
1 years$51,529$51,070$50,623$50,185$49,759$49,056
2 years$25,510$25,034$24,574$24,128$23,695$22,988
3 years$16,837$16,360$15,901$15,459$15,033$14,344
4 years$12,502$12,027$11,572$11,137$10,722$10,056
5 years$9,902$9,429$8,980$8,554$8,150$7,510
6 years$8,169$7,699$7,257$6,841$6,449$5,835
7 years$6,931$6,466$6,031$5,624$5,245$4,657
8 years$6,004$5,543$5,115$4,718$4,351$3,789
9 years$5,283$4,826$4,405$4,019$3,664$3,129
10 years$4,706$4,254$3,841$3,464$3,122$2,612
11 years$4,235$3,787$3,381$3,015$2,685$2,200
12 years$3,842$3,399$3,001$2,645$2,327$1,866
13 years$3,510$3,072$2,681$2,335$2,029$1,592
14 years$3,226$2,792$2,409$2,073$1,779$1,365
15 years$2,980$2,551$2,175$1,848$1,566$1,175
16 years$2,765$2,340$1,972$1,655$1,384$1,015
17 years$2,575$2,155$1,794$1,487$1,227$879
18 years$2,407$1,991$1,638$1,340$1,091$763
19 years$2,256$1,846$1,499$1,211$973$664
20 years$2,121$1,715$1,376$1,097$869$578
21 years$1,999$1,597$1,266$995$777$505
22 years$1,888$1,491$1,167$905$697$441
23 years$1,786$1,395$1,077$824$626$386
24 years$1,694$1,307$996$752$562$338
25 years$1,609$1,226$923$686$506$296
26 years$1,530$1,153$856$628$456$260
27 years$1,458$1,085$795$575$411$228
28 years$1,391$1,022$739$526$371$200
29 years$1,328$964$687$483$335$176
30 years$1,270$911$640$443$302$155
31 years$1,216$861$597$407$273$136
32 years$1,165$814$557$374$247$120
33 years$1,117$771$520$344$224$105
34 years$1,073$731$486$316$203$93
35 years$1,031$693$454$291$184$82
36 years$991$658$425$268$166$72
37 years$954$625$398$247$151$63
38 years$918$594$372$228$137$56
39 years$885$565$349$210$124$49
40 years$853$537$327$194$112$43
41 years$823$512$307$179$102$38
42 years$794$487$288$165$93$34
43 years$767$464$270$152$84$30
44 years$741$443$253$141$76$26
45 years$717$422$238$130$69$23
46 years$693$403$223$120$63$20
47 years$671$384$210$111$57$18
48 years$649$367$197$102$52$16
49 years$629$350$185$95$47$14
50 years$609$335$174$87$43$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $624,000, adding $3,257 every year, while hoping to spend $32,477 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: 58/37/5 Blend
58$624,000$624,000$624,000$624,000
59$691,008$657,936$648,264$730,263
60$726,935$655,619$635,425$754,658
61$765,439$652,101$621,068$777,246
62$806,747$647,287$605,107$801,044
63$851,110$641,080$587,454$826,169
64$898,804$633,373$568,014$852,752
65$950,131$624,057$546,691$880,937
66$1,005,421$613,013$523,383$910,886
67$1,065,041$600,117$497,982$942,778
68$1,129,389$585,236$470,378$976,812
69$1,198,905$568,232$440,455$1,013,208
70$1,274,073$548,955$408,090$1,052,211
71$1,355,424$527,249$373,156$1,094,095
72$1,443,542$502,949$335,522$1,139,161
73$1,539,069$475,879$295,047$1,187,744
74$1,642,710$445,853$251,587$1,240,217
75$1,755,242$412,676$204,991$1,296,990
76$1,877,520$376,140$155,101$1,358,523
77$2,010,481$336,025$101,752$1,425,322
78$2,155,161$292,101$44,771$1,497,948
79$2,312,696$244,122$0$1,577,025
80$2,484,337$191,830$0$1,664,098
81$2,671,462$134,952$0$1,761,679
82$2,875,585$73,199$0$1,868,236
83$3,098,376$6,267$0$1,984,715
84$3,341,670$0$0$2,112,166
85$3,607,488$0$0$2,278,688
86$3,898,057$0$0$2,463,555
87$4,215,825$0$0$2,665,780
88$4,563,492$0$0$2,887,087
89$4,944,026$0$0$3,129,373
90$5,360,699$0$0$3,394,728
91$5,817,113$0$0$3,685,454
92$6,317,234$0$0$4,004,084
93$6,865,430$0$0$4,353,410
94$7,466,514$0$0$4,736,506
95$8,125,784$0$0$5,156,757
96$8,849,077$0$0$5,617,894
97$9,642,821$0$0$6,124,023
98$10,514,097$0$0$6,679,671
99$11,470,707$0$0$7,289,822
100$12,521,242$0$0$7,959,965