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%16.2%
1 years$54,172$53,689$53,219$52,759$52,310$50,984
2 years$26,818$26,318$25,834$25,365$24,910$23,582
3 years$17,701$17,199$16,716$16,252$15,804$14,516
4 years$13,143$12,643$12,165$11,708$11,271$10,034
5 years$10,410$9,913$9,441$8,993$8,568$7,384
6 years$8,588$8,094$7,630$7,192$6,780$5,650
7 years$7,287$6,798$6,340$5,913$5,514$4,439
8 years$6,312$5,827$5,377$4,960$4,574$3,554
9 years$5,553$5,073$4,631$4,225$3,852$2,885
10 years$4,947$4,472$4,038$3,642$3,282$2,368
11 years$4,452$3,981$3,555$3,170$2,823$1,959
12 years$4,039$3,573$3,155$2,780$2,446$1,632
13 years$3,690$3,229$2,818$2,454$2,133$1,367
14 years$3,391$2,935$2,532$2,179$1,870$1,150
15 years$3,133$2,681$2,286$1,943$1,646$971
16 years$2,906$2,460$2,073$1,740$1,455$822
17 years$2,707$2,266$1,886$1,563$1,290$698
18 years$2,530$2,094$1,722$1,409$1,147$593
19 years$2,372$1,940$1,576$1,273$1,023$506
20 years$2,230$1,803$1,447$1,153$913$431
21 years$2,101$1,679$1,331$1,046$817$369
22 years$1,984$1,568$1,226$951$733$315
23 years$1,878$1,466$1,132$866$658$270
24 years$1,781$1,374$1,047$790$591$231
25 years$1,691$1,289$970$722$532$198
26 years$1,609$1,212$900$660$479$170
27 years$1,533$1,140$835$604$432$146
28 years$1,462$1,074$777$553$390$125
29 years$1,396$1,014$723$507$352$108
30 years$1,335$957$673$466$318$92
31 years$1,278$905$628$428$288$79
32 years$1,225$856$586$393$260$68
33 years$1,175$811$547$361$235$59
34 years$1,128$769$511$333$213$50
35 years$1,084$729$478$306$193$43
36 years$1,042$692$447$282$175$37
37 years$1,003$657$418$260$158$32
38 years$965$625$392$239$144$28
39 years$930$594$367$221$130$24
40 years$897$565$344$204$118$20
41 years$865$538$322$188$107$18
42 years$835$512$302$173$97$15
43 years$807$488$284$160$88$13
44 years$779$465$266$148$80$11
45 years$754$444$250$137$73$10
46 years$729$423$235$126$66$8
47 years$705$404$221$116$60$7
48 years$683$386$207$108$54$6
49 years$661$368$195$99$49$5
50 years$640$352$183$92$45$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $656,000, adding $4,191 every year, while hoping to spend $21,957 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: 59/11/30 Blend
58$656,000$656,000$656,000$656,000
59$727,235$692,467$682,299$763,957
60$778,051$703,036$681,794$800,153
61$833,314$713,387$680,536$836,944
62$893,455$723,485$678,477$876,631
63$958,947$733,296$675,566$919,502
64$1,030,312$742,780$671,750$965,874
65$1,108,123$751,895$666,972$1,016,099
66$1,193,012$760,598$661,176$1,070,563
67$1,285,672$768,841$654,299$1,129,695
68$1,386,870$776,573$646,277$1,193,966
69$1,497,447$783,741$637,043$1,263,896
70$1,618,329$790,287$626,527$1,340,060
71$1,750,539$796,151$614,655$1,423,092
72$1,895,198$801,267$601,351$1,513,690
73$2,053,545$805,566$586,533$1,612,626
74$2,226,942$808,974$570,117$1,720,753
75$2,416,889$811,413$552,015$1,839,008
76$2,625,040$812,800$532,135$1,968,428
77$2,853,213$813,046$510,381$2,110,156
78$3,103,412$812,057$486,650$2,265,453
79$3,377,846$809,734$460,839$2,435,711
80$3,678,946$805,970$432,837$2,622,464
81$4,009,390$800,654$402,528$2,827,405
82$4,372,127$793,665$369,792$3,052,400
83$4,770,407$784,879$334,503$3,299,509
84$5,207,811$774,159$296,531$3,571,003
85$5,688,280$761,366$255,737$3,869,387
86$6,216,159$746,348$211,979$4,197,424
87$6,796,234$728,945$165,107$4,558,161
88$7,433,776$708,990$114,965$4,954,958
89$8,134,594$686,303$61,388$5,391,519
90$8,905,086$660,695$4,209$5,871,931
91$9,752,302$631,967$0$6,400,699
92$10,684,010$599,906$0$7,000,978
93$11,708,767$564,289$0$7,662,679
94$12,836,001$524,879$0$8,390,556
95$14,076,100$481,426$0$9,191,334
96$15,440,511$433,664$0$10,072,425
97$16,941,844$381,314$0$11,041,994
98$18,593,994$324,081$0$12,109,042
99$20,412,273$261,652$0$13,283,486
100$22,413,549$193,697$0$14,576,256