Can I retire at age 59 with 640,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$52,851$52,380$51,921$51,472$51,034$49,821
2 years$26,164$25,676$25,204$24,746$24,302$23,087
3 years$17,269$16,780$16,309$15,855$15,418$14,239
4 years$12,823$12,335$11,869$11,423$10,996$9,862
5 years$10,156$9,671$9,211$8,774$8,359$7,273
6 years$8,378$7,897$7,443$7,016$6,614$5,578
7 years$7,109$6,632$6,186$5,769$5,379$4,392
8 years$6,158$5,685$5,246$4,839$4,463$3,524
9 years$5,418$4,950$4,518$4,122$3,758$2,868
10 years$4,827$4,363$3,939$3,553$3,202$2,360
11 years$4,343$3,884$3,468$3,092$2,754$1,958
12 years$3,941$3,486$3,078$2,712$2,387$1,635
13 years$3,600$3,150$2,750$2,395$2,081$1,373
14 years$3,309$2,864$2,471$2,126$1,824$1,158
15 years$3,056$2,616$2,231$1,896$1,606$980
16 years$2,835$2,400$2,022$1,697$1,420$833
17 years$2,641$2,210$1,840$1,525$1,259$709
18 years$2,468$2,042$1,680$1,374$1,119$605
19 years$2,314$1,893$1,538$1,242$998$517
20 years$2,175$1,759$1,411$1,125$891$442
21 years$2,050$1,638$1,298$1,021$797$379
22 years$1,936$1,529$1,197$928$715$325
23 years$1,832$1,430$1,105$845$642$279
24 years$1,737$1,340$1,022$771$577$240
25 years$1,650$1,258$946$704$519$206
26 years$1,570$1,182$878$644$467$178
27 years$1,495$1,112$815$589$421$153
28 years$1,426$1,048$758$540$380$132
29 years$1,362$989$705$495$343$113
30 years$1,303$934$657$454$310$98
31 years$1,247$883$612$417$280$84
32 years$1,195$835$571$384$254$73
33 years$1,146$791$533$353$230$63
34 years$1,100$750$498$324$208$54
35 years$1,057$711$466$299$188$47
36 years$1,016$675$436$275$171$40
37 years$978$641$408$253$155$35
38 years$942$609$382$234$140$30
39 years$908$579$358$215$127$26
40 years$875$551$335$199$115$22
41 years$844$525$315$183$105$19
42 years$815$500$295$169$95$17
43 years$787$476$277$156$86$14
44 years$760$454$260$144$78$12
45 years$735$433$244$133$71$11
46 years$711$413$229$123$64$9
47 years$688$394$215$114$59$8
48 years$666$376$202$105$53$7
49 years$645$359$190$97$48$6
50 years$625$343$179$90$44$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $640,000, adding $5,107 every year, while hoping to spend $48,508 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: 62/23/15 Blend
58$640,000$640,000$640,000$640,000
59$710,548$676,628$666,708$751,662
60$731,412$658,171$637,430$761,449
61$752,778$637,183$605,546$766,170
62$774,646$613,490$570,917$770,160
63$797,015$586,906$533,398$773,351
64$819,882$557,236$492,838$775,670
65$843,240$524,271$449,079$777,038
66$867,083$487,792$401,955$777,373
67$891,399$447,567$351,294$776,583
68$916,175$403,352$296,916$774,574
69$941,395$354,886$238,633$771,243
70$967,038$301,896$176,248$766,478
71$993,080$244,093$109,556$760,162
72$1,019,491$181,171$38,343$752,168
73$1,046,237$112,806$0$742,360
74$1,073,279$38,659$0$736,620
75$1,100,569$0$0$735,704
76$1,128,053$0$0$743,878
77$1,155,671$0$0$761,902
78$1,183,351$0$0$779,942
79$1,211,014$0$0$797,942
80$1,238,567$0$0$815,839
81$1,265,907$0$0$833,561
82$1,292,918$0$0$851,029
83$1,319,468$0$0$868,150
84$1,345,408$0$0$884,822
85$1,370,571$0$0$900,930
86$1,394,771$0$0$916,346
87$1,417,798$0$0$930,926
88$1,439,417$0$0$944,507
89$1,459,368$0$0$956,911
90$1,477,357$0$0$967,936
91$1,493,058$0$0$977,358
92$1,506,109$0$0$984,928
93$1,516,105$0$0$990,368
94$1,522,596$0$0$993,370
95$1,525,083$0$0$993,591
96$1,523,010$0$0$990,650
97$1,515,759$0$0$984,123
98$1,502,648$0$0$973,542
99$1,482,915$0$0$958,387
100$1,455,721$0$0$938,080