Can I retire at age 59 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$54,172$53,689$53,219$52,759$52,310$51,254
2 years$26,818$26,318$25,834$25,365$24,910$23,850
3 years$17,701$17,199$16,716$16,252$15,804$14,774
4 years$13,143$12,643$12,165$11,708$11,271$10,279
5 years$10,410$9,913$9,441$8,993$8,568$7,617
6 years$8,588$8,094$7,630$7,192$6,780$5,870
7 years$7,287$6,798$6,340$5,913$5,514$4,646
8 years$6,312$5,827$5,377$4,960$4,574$3,748
9 years$5,553$5,073$4,631$4,225$3,852$3,066
10 years$4,947$4,472$4,038$3,642$3,282$2,537
11 years$4,452$3,981$3,555$3,170$2,823$2,117
12 years$4,039$3,573$3,155$2,780$2,446$1,778
13 years$3,690$3,229$2,818$2,454$2,133$1,502
14 years$3,391$2,935$2,532$2,179$1,870$1,275
15 years$3,133$2,681$2,286$1,943$1,646$1,086
16 years$2,906$2,460$2,073$1,740$1,455$928
17 years$2,707$2,266$1,886$1,563$1,290$795
18 years$2,530$2,094$1,722$1,409$1,147$683
19 years$2,372$1,940$1,576$1,273$1,023$588
20 years$2,230$1,803$1,447$1,153$913$506
21 years$2,101$1,679$1,331$1,046$817$437
22 years$1,984$1,568$1,226$951$733$377
23 years$1,878$1,466$1,132$866$658$326
24 years$1,781$1,374$1,047$790$591$282
25 years$1,691$1,289$970$722$532$245
26 years$1,609$1,212$900$660$479$212
27 years$1,533$1,140$835$604$432$184
28 years$1,462$1,074$777$553$390$160
29 years$1,396$1,014$723$507$352$138
30 years$1,335$957$673$466$318$120
31 years$1,278$905$628$428$288$104
32 years$1,225$856$586$393$260$91
33 years$1,175$811$547$361$235$79
34 years$1,128$769$511$333$213$69
35 years$1,084$729$478$306$193$60
36 years$1,042$692$447$282$175$52
37 years$1,003$657$418$260$158$45
38 years$965$625$392$239$144$39
39 years$930$594$367$221$130$34
40 years$897$565$344$204$118$30
41 years$865$538$322$188$107$26
42 years$835$512$302$173$97$22
43 years$807$488$284$160$88$20
44 years$779$465$266$148$80$17
45 years$754$444$250$137$73$15
46 years$729$423$235$126$66$13
47 years$705$404$221$116$60$11
48 years$683$386$207$108$54$10
49 years$661$368$195$99$49$8
50 years$640$352$183$92$45$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $656,000, adding $3,681 every year, while hoping to spend $29,714 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: 73/13/14 Blend
58$656,000$656,000$656,000$656,000
59$726,709$691,941$681,773$777,289
60$769,218$694,231$672,997$813,557
61$815,067$695,637$662,931$849,261
62$864,565$696,084$651,500$887,575
63$918,052$695,494$638,628$928,751
64$975,902$693,782$624,230$973,066
65$1,038,526$690,859$608,223$1,020,826
66$1,106,374$686,629$590,517$1,072,368
67$1,179,943$680,993$571,018$1,128,064
68$1,259,778$673,843$549,629$1,188,324
69$1,346,481$665,066$526,247$1,253,602
70$1,440,711$654,543$500,765$1,324,397
71$1,543,194$642,147$473,071$1,401,259
72$1,654,729$627,742$443,049$1,484,796
73$1,776,197$611,186$410,576$1,575,679
74$1,908,563$592,328$375,524$1,674,647
75$2,052,894$571,010$337,762$1,782,516
76$2,210,360$547,060$297,148$1,900,184
77$2,382,253$520,302$253,538$2,028,646
78$2,569,991$490,545$206,780$2,168,994
79$2,775,138$457,590$156,715$2,322,438
80$2,999,414$421,224$103,177$2,490,307
81$3,244,715$381,225$45,995$2,674,072
82$3,513,127$337,356$0$2,875,352
83$3,806,946$289,366$0$3,098,179
84$4,128,703$236,993$0$3,349,757
85$4,481,182$179,958$0$3,625,410
86$4,867,452$117,965$0$3,927,567
87$5,290,890$50,704$0$4,258,902
88$5,755,219$0$0$4,622,364
89$6,264,536$0$0$5,024,372
90$6,823,355$0$0$5,473,441
91$7,436,649$0$0$5,966,317
92$8,109,893$0$0$6,507,407
93$8,849,122$0$0$7,101,561
94$9,660,982$0$0$7,754,128
95$10,552,792$0$0$8,470,994
96$11,532,617$0$0$9,258,648
97$12,609,344$0$0$10,124,237
98$13,792,759$0$0$11,075,634
99$15,093,647$0$0$12,121,513
100$16,523,886$0$0$13,271,431