Can I retire at age 59 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$53,016$52,544$52,083$51,633$51,194$49,815
2 years$26,245$25,757$25,283$24,824$24,378$22,999
3 years$17,323$16,832$16,360$15,905$15,466$14,130
4 years$12,863$12,373$11,906$11,458$11,031$9,747
5 years$10,187$9,701$9,239$8,801$8,385$7,158
6 years$8,404$7,922$7,467$7,038$6,635$5,466
7 years$7,131$6,653$6,205$5,787$5,396$4,284
8 years$6,177$5,702$5,262$4,854$4,477$3,422
9 years$5,435$4,965$4,532$4,135$3,770$2,771
10 years$4,842$4,376$3,951$3,564$3,212$2,269
11 years$4,357$3,896$3,479$3,102$2,763$1,873
12 years$3,953$3,497$3,087$2,721$2,394$1,556
13 years$3,611$3,160$2,758$2,402$2,088$1,299
14 years$3,319$2,873$2,478$2,132$1,830$1,090
15 years$3,066$2,624$2,238$1,902$1,611$918
16 years$2,844$2,408$2,029$1,703$1,424$775
17 years$2,649$2,217$1,846$1,530$1,263$656
18 years$2,476$2,049$1,685$1,379$1,123$556
19 years$2,321$1,899$1,543$1,246$1,001$472
20 years$2,182$1,765$1,416$1,128$894$402
21 years$2,056$1,644$1,302$1,024$800$342
22 years$1,942$1,534$1,200$931$717$292
23 years$1,838$1,435$1,108$848$644$249
24 years$1,743$1,344$1,025$773$578$213
25 years$1,655$1,262$949$706$521$182
26 years$1,575$1,186$880$646$469$155
27 years$1,500$1,116$818$591$423$133
28 years$1,431$1,052$760$542$381$114
29 years$1,367$992$707$497$344$97
30 years$1,307$937$659$456$311$83
31 years$1,251$886$614$419$281$71
32 years$1,199$838$573$385$255$61
33 years$1,150$794$535$354$230$52
34 years$1,104$752$500$326$209$45
35 years$1,060$713$467$300$189$38
36 years$1,020$677$437$276$171$33
37 years$981$643$409$254$155$28
38 years$945$611$383$234$141$24
39 years$910$581$359$216$128$21
40 years$878$553$337$199$116$18
41 years$847$526$316$184$105$15
42 years$817$501$296$170$95$13
43 years$789$478$278$157$86$11
44 years$763$455$261$145$78$10
45 years$737$434$245$134$71$8
46 years$713$414$230$123$65$7
47 years$690$395$216$114$59$6
48 years$668$377$203$105$53$5
49 years$647$360$191$97$48$4
50 years$627$344$179$90$44$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $642,000, adding $2,045 every year, while hoping to spend $39,493 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: 50/45/5 Blend
58$642,000$642,000$642,000$642,000
59$709,593$675,567$665,616$744,126
60$739,952$666,650$645,894$758,922
61$772,083$655,972$624,188$770,563
62$806,126$643,405$600,389$782,261
63$842,233$628,815$574,384$794,030
64$880,571$612,056$546,056$805,888
65$921,321$592,978$515,280$817,857
66$964,681$571,420$481,928$829,964
67$1,010,870$547,211$445,864$842,241
68$1,060,125$520,171$406,947$854,729
69$1,112,708$490,109$365,030$867,472
70$1,168,905$456,825$319,959$880,526
71$1,229,028$420,105$271,573$893,955
72$1,293,423$379,724$219,704$907,834
73$1,362,466$335,444$164,178$922,248
74$1,436,570$287,013$104,810$937,298
75$1,516,189$234,166$41,410$953,098
76$1,601,821$176,621$0$969,780
77$1,694,014$114,083$0$988,896
78$1,793,369$46,238$0$1,011,665
79$1,900,544$0$0$1,036,085
80$2,016,264$0$0$1,075,879
81$2,141,328$0$0$1,143,684
82$2,276,608$0$0$1,217,084
83$2,423,069$0$0$1,296,608
84$2,581,768$0$0$1,382,838
85$2,753,867$0$0$1,476,414
86$2,940,647$0$0$1,578,039
87$3,143,513$0$0$1,688,487
88$3,364,014$0$0$1,808,610
89$3,603,851$0$0$1,939,344
90$3,864,899$0$0$2,081,720
91$4,149,216$0$0$2,236,872
92$4,459,073$0$0$2,406,049
93$4,796,964$0$0$2,590,623
94$5,165,636$0$0$2,792,108
95$5,568,113$0$0$3,012,167
96$6,007,724$0$0$3,252,633
97$6,488,132$0$0$3,515,523
98$7,013,373$0$0$3,803,058
99$7,587,886$0$0$4,117,683
100$8,216,563$0$0$4,462,092