Can I retire at age 59 with 656,000?

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 $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%17.2%
1 years$54,172$53,689$53,219$52,759$52,310$50,778
2 years$26,818$26,318$25,834$25,365$24,910$23,379
3 years$17,701$17,199$16,716$16,252$15,804$14,322
4 years$13,143$12,643$12,165$11,708$11,271$9,849
5 years$10,410$9,913$9,441$8,993$8,568$7,211
6 years$8,588$8,094$7,630$7,192$6,780$5,488
7 years$7,287$6,798$6,340$5,913$5,514$4,287
8 years$6,312$5,827$5,377$4,960$4,574$3,412
9 years$5,553$5,073$4,631$4,225$3,852$2,753
10 years$4,947$4,472$4,038$3,642$3,282$2,245
11 years$4,452$3,981$3,555$3,170$2,823$1,846
12 years$4,039$3,573$3,155$2,780$2,446$1,528
13 years$3,690$3,229$2,818$2,454$2,133$1,271
14 years$3,391$2,935$2,532$2,179$1,870$1,062
15 years$3,133$2,681$2,286$1,943$1,646$890
16 years$2,906$2,460$2,073$1,740$1,455$748
17 years$2,707$2,266$1,886$1,563$1,290$631
18 years$2,530$2,094$1,722$1,409$1,147$532
19 years$2,372$1,940$1,576$1,273$1,023$450
20 years$2,230$1,803$1,447$1,153$913$381
21 years$2,101$1,679$1,331$1,046$817$323
22 years$1,984$1,568$1,226$951$733$274
23 years$1,878$1,466$1,132$866$658$233
24 years$1,781$1,374$1,047$790$591$198
25 years$1,691$1,289$970$722$532$168
26 years$1,609$1,212$900$660$479$143
27 years$1,533$1,140$835$604$432$122
28 years$1,462$1,074$777$553$390$104
29 years$1,396$1,014$723$507$352$88
30 years$1,335$957$673$466$318$75
31 years$1,278$905$628$428$288$64
32 years$1,225$856$586$393$260$55
33 years$1,175$811$547$361$235$47
34 years$1,128$769$511$333$213$40
35 years$1,084$729$478$306$193$34
36 years$1,042$692$447$282$175$29
37 years$1,003$657$418$260$158$25
38 years$965$625$392$239$144$21
39 years$930$594$367$221$130$18
40 years$897$565$344$204$118$15
41 years$865$538$322$188$107$13
42 years$835$512$302$173$97$11
43 years$807$488$284$160$88$10
44 years$779$465$266$148$80$8
45 years$754$444$250$137$73$7
46 years$729$423$235$126$66$6
47 years$705$404$221$116$60$5
48 years$683$386$207$108$54$4
49 years$661$368$195$99$49$4
50 years$640$352$183$92$45$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $656,000, adding $5,163 every year, while hoping to spend $56,467 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: 69/6/25 Blend
58$656,000$656,000$656,000$656,000
59$728,238$693,470$683,302$773,497
60$742,437$667,369$646,112$778,386
61$756,193$638,097$605,784$776,738
62$769,400$605,439$562,152$773,611
63$781,940$569,167$515,045$768,856
64$793,682$529,040$464,284$762,313
65$804,479$484,805$409,679$753,806
66$814,167$436,192$351,035$743,141
67$822,564$382,917$288,146$730,111
68$829,467$324,681$220,800$714,485
69$834,647$261,165$148,772$696,014
70$837,855$192,036$71,829$674,427
71$838,808$116,938$0$649,423
72$837,198$35,499$0$623,421
73$832,677$0$0$613,949
74$824,862$0$0$604,984
75$813,329$0$0$595,515
76$797,606$0$0$582,837
77$777,170$0$0$566,554
78$751,444$0$0$546,223
79$719,786$0$0$521,359
80$681,488$0$0$491,420
81$635,764$0$0$455,809
82$581,746$0$0$413,866
83$518,474$0$0$364,858
84$444,887$0$0$307,978
85$359,809$0$0$242,332
86$261,944$0$0$166,933
87$149,859$0$0$80,689
88$21,968$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0