Can I retire at age 59 with 640,000?

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 $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%13.4%
1 years$52,851$52,380$51,921$51,472$51,034$50,313
2 years$26,164$25,676$25,204$24,746$24,302$23,577
3 years$17,269$16,780$16,309$15,855$15,418$14,712
4 years$12,823$12,335$11,869$11,423$10,996$10,314
5 years$10,156$9,671$9,211$8,774$8,359$7,703
6 years$8,378$7,897$7,443$7,016$6,614$5,985
7 years$7,109$6,632$6,186$5,769$5,379$4,776
8 years$6,158$5,685$5,246$4,839$4,463$3,887
9 years$5,418$4,950$4,518$4,122$3,758$3,209
10 years$4,827$4,363$3,939$3,553$3,202$2,679
11 years$4,343$3,884$3,468$3,092$2,754$2,256
12 years$3,941$3,486$3,078$2,712$2,387$1,914
13 years$3,600$3,150$2,750$2,395$2,081$1,633
14 years$3,309$2,864$2,471$2,126$1,824$1,400
15 years$3,056$2,616$2,231$1,896$1,606$1,205
16 years$2,835$2,400$2,022$1,697$1,420$1,041
17 years$2,641$2,210$1,840$1,525$1,259$901
18 years$2,468$2,042$1,680$1,374$1,119$782
19 years$2,314$1,893$1,538$1,242$998$681
20 years$2,175$1,759$1,411$1,125$891$593
21 years$2,050$1,638$1,298$1,021$797$518
22 years$1,936$1,529$1,197$928$715$452
23 years$1,832$1,430$1,105$845$642$396
24 years$1,737$1,340$1,022$771$577$347
25 years$1,650$1,258$946$704$519$304
26 years$1,570$1,182$878$644$467$266
27 years$1,495$1,112$815$589$421$234
28 years$1,426$1,048$758$540$380$205
29 years$1,362$989$705$495$343$181
30 years$1,303$934$657$454$310$159
31 years$1,247$883$612$417$280$140
32 years$1,195$835$571$384$254$123
33 years$1,146$791$533$353$230$108
34 years$1,100$750$498$324$208$95
35 years$1,057$711$466$299$188$84
36 years$1,016$675$436$275$171$74
37 years$978$641$408$253$155$65
38 years$942$609$382$234$140$57
39 years$908$579$358$215$127$50
40 years$875$551$335$199$115$44
41 years$844$525$315$183$105$39
42 years$815$500$295$169$95$34
43 years$787$476$277$156$86$30
44 years$760$454$260$144$78$27
45 years$735$433$244$133$71$24
46 years$711$413$229$123$64$21
47 years$688$394$215$114$59$18
48 years$666$376$202$105$53$16
49 years$645$359$190$97$48$14
50 years$625$343$179$90$44$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $640,000, adding $6,002 every year, while hoping to spend $27,470 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: 72/23/5 Blend
58$640,000$640,000$640,000$640,000
59$711,471$677,551$667,631$761,947
60$754,813$681,523$660,769$800,000
61$801,656$684,769$652,756$837,615
62$852,326$687,225$643,525$878,017
63$907,186$688,821$633,005$921,471
64$966,630$689,485$621,123$968,270
65$1,031,096$689,139$607,800$1,018,738
66$1,101,062$687,701$592,956$1,073,231
67$1,177,056$685,084$576,505$1,132,142
68$1,259,657$681,195$558,359$1,195,903
69$1,349,504$675,935$538,426$1,264,994
70$1,447,298$669,200$516,607$1,339,940
71$1,553,811$660,880$492,803$1,421,323
72$1,669,893$650,857$466,906$1,509,783
73$1,796,481$639,007$438,805$1,606,027
74$1,934,602$625,198$408,385$1,710,833
75$2,085,391$609,292$375,525$1,825,062
76$2,250,093$591,140$340,098$1,949,660
77$2,430,084$570,587$301,972$2,085,673
78$2,626,873$547,467$261,009$2,234,254
79$2,842,126$521,604$217,065$2,396,672
80$3,077,675$492,815$169,989$2,574,331
81$3,335,538$460,903$119,624$2,768,776
82$3,617,937$425,662$65,806$2,981,712
83$3,927,320$386,872$8,363$3,215,018
84$4,266,381$344,303$0$3,470,769
85$4,638,087$297,710$0$3,754,075
86$5,045,709$246,834$0$4,065,293
87$5,492,846$191,404$0$4,406,768
88$5,983,464$131,131$0$4,781,575
89$6,521,931$65,710$0$5,193,108
90$7,113,058$0$0$5,645,108
91$7,762,146$0$0$6,143,007
92$8,475,033$0$0$6,708,143
93$9,258,151$0$0$7,328,987
94$10,118,585$0$0$8,011,160
95$11,064,139$0$0$8,760,855
96$12,103,415$0$0$9,584,895
97$13,245,885$0$0$10,490,795
98$14,501,986$0$0$11,486,837
99$15,883,218$0$0$12,582,143
100$17,402,249$0$0$13,786,766