Can I retire at age 59 with 642,000?

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 $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%14%
1 years$53,016$52,544$52,083$51,633$51,194$50,346
2 years$26,245$25,757$25,283$24,824$24,378$23,526
3 years$17,323$16,832$16,360$15,905$15,466$14,637
4 years$12,863$12,373$11,906$11,458$11,031$10,231
5 years$10,187$9,701$9,239$8,801$8,385$7,617
6 years$8,404$7,922$7,467$7,038$6,635$5,898
7 years$7,131$6,653$6,205$5,787$5,396$4,692
8 years$6,177$5,702$5,262$4,854$4,477$3,805
9 years$5,435$4,965$4,532$4,135$3,770$3,130
10 years$4,842$4,376$3,951$3,564$3,212$2,604
11 years$4,357$3,896$3,479$3,102$2,763$2,185
12 years$3,953$3,497$3,087$2,721$2,394$1,846
13 years$3,611$3,160$2,758$2,402$2,088$1,569
14 years$3,319$2,873$2,478$2,132$1,830$1,340
15 years$3,066$2,624$2,238$1,902$1,611$1,148
16 years$2,844$2,408$2,029$1,703$1,424$988
17 years$2,649$2,217$1,846$1,530$1,263$852
18 years$2,476$2,049$1,685$1,379$1,123$736
19 years$2,321$1,899$1,543$1,246$1,001$638
20 years$2,182$1,765$1,416$1,128$894$553
21 years$2,056$1,644$1,302$1,024$800$481
22 years$1,942$1,534$1,200$931$717$418
23 years$1,838$1,435$1,108$848$644$364
24 years$1,743$1,344$1,025$773$578$317
25 years$1,655$1,262$949$706$521$277
26 years$1,575$1,186$880$646$469$242
27 years$1,500$1,116$818$591$423$211
28 years$1,431$1,052$760$542$381$184
29 years$1,367$992$707$497$344$161
30 years$1,307$937$659$456$311$141
31 years$1,251$886$614$419$281$123
32 years$1,199$838$573$385$255$108
33 years$1,150$794$535$354$230$95
34 years$1,104$752$500$326$209$83
35 years$1,060$713$467$300$189$73
36 years$1,020$677$437$276$171$64
37 years$981$643$409$254$155$56
38 years$945$611$383$234$141$49
39 years$910$581$359$216$128$43
40 years$878$553$337$199$116$38
41 years$847$526$316$184$105$33
42 years$817$501$296$170$95$29
43 years$789$478$278$157$86$25
44 years$763$455$261$145$78$22
45 years$737$434$245$134$71$19
46 years$713$414$230$123$65$17
47 years$690$395$216$114$59$15
48 years$668$377$203$105$53$13
49 years$647$360$191$97$48$11
50 years$627$344$179$90$44$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $642,000, adding $3,913 every year, while hoping to spend $34,070 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: 59/25/16 Blend
58$642,000$642,000$642,000$642,000
59$711,520$677,494$667,543$750,360
60$747,845$674,441$653,656$774,015
61$786,733$670,097$638,161$795,686
62$828,410$664,362$620,970$818,528
63$873,123$657,130$601,987$842,659
64$921,143$648,292$581,116$868,209
65$972,769$637,727$558,252$895,324
66$1,028,327$625,312$533,289$924,167
67$1,088,177$610,912$506,115$954,917
68$1,152,713$594,388$476,611$987,776
69$1,222,368$575,592$444,656$1,022,964
70$1,297,618$554,364$410,120$1,060,730
71$1,378,986$530,539$372,871$1,101,348
72$1,467,048$503,941$332,768$1,145,122
73$1,562,436$474,383$289,664$1,192,390
74$1,665,844$441,668$243,407$1,243,529
75$1,778,037$405,586$193,838$1,298,952
76$1,899,855$365,919$140,791$1,359,123
77$2,032,224$322,432$84,090$1,424,552
78$2,176,159$274,879$23,556$1,495,806
79$2,332,780$223,002$0$1,573,513
80$2,503,318$166,523$0$1,665,376
81$2,689,128$105,154$0$1,769,905
82$2,891,700$38,588$0$1,883,965
83$3,112,676$0$0$2,008,536
84$3,353,860$0$0$2,153,919
85$3,617,242$0$0$2,324,323
86$3,905,009$0$0$2,510,556
87$4,219,571$0$0$2,714,184
88$4,563,580$0$0$2,936,929
89$4,939,957$0$0$3,180,689
90$5,351,917$0$0$3,447,556
91$5,803,002$0$0$3,739,829
92$6,297,111$0$0$4,060,045
93$6,838,539$0$0$4,410,992
94$7,432,015$0$0$4,795,747
95$8,082,747$0$0$5,217,693
96$8,796,473$0$0$5,680,561
97$9,579,512$0$0$6,188,457
98$10,438,823$0$0$6,745,906
99$11,382,073$0$0$7,357,890
100$12,417,708$0$0$8,029,900