Can I retire at age 66 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$49,135$48,697$48,270$47,853$47,446$45,909
2 years$24,324$23,871$23,432$23,006$22,593$21,059
3 years$16,055$15,600$15,162$14,740$14,334$12,851
4 years$11,921$11,468$11,034$10,620$10,223$8,803
5 years$9,442$8,991$8,563$8,157$7,772$6,417
6 years$7,789$7,342$6,920$6,523$6,149$4,862
7 years$6,609$6,165$5,751$5,363$5,001$3,781
8 years$5,725$5,285$4,877$4,499$4,149$2,995
9 years$5,037$4,602$4,201$3,832$3,494$2,405
10 years$4,487$4,056$3,662$3,303$2,977$1,952
11 years$4,038$3,611$3,224$2,875$2,560$1,597
12 years$3,663$3,241$2,861$2,522$2,219$1,314
13 years$3,347$2,929$2,556$2,226$1,935$1,087
14 years$3,076$2,662$2,297$1,976$1,696$903
15 years$2,841$2,432$2,074$1,762$1,493$753
16 years$2,636$2,231$1,880$1,578$1,320$629
17 years$2,455$2,055$1,711$1,418$1,170$527
18 years$2,295$1,899$1,562$1,278$1,041$443
19 years$2,151$1,760$1,430$1,155$927$372
20 years$2,022$1,635$1,312$1,046$828$313
21 years$1,906$1,523$1,207$949$741$264
22 years$1,800$1,422$1,112$863$664$222
23 years$1,703$1,330$1,027$786$596$188
24 years$1,615$1,246$950$717$536$159
25 years$1,534$1,169$880$655$482$134
26 years$1,459$1,099$816$599$435$113
27 years$1,390$1,034$758$548$392$96
28 years$1,326$975$704$502$354$81
29 years$1,267$919$655$460$319$69
30 years$1,211$868$611$422$288$58
31 years$1,159$821$569$388$261$49
32 years$1,111$777$531$357$236$42
33 years$1,066$735$496$328$213$35
34 years$1,023$697$463$302$193$30
35 years$983$661$433$278$175$25
36 years$945$628$405$256$159$21
37 years$909$596$379$236$144$18
38 years$876$566$355$217$130$15
39 years$844$539$333$200$118$13
40 years$813$512$312$185$107$11
41 years$785$488$292$170$97$9
42 years$758$465$274$157$88$8
43 years$732$443$257$145$80$7
44 years$707$422$242$134$73$6
45 years$683$402$227$124$66$5
46 years$661$384$213$114$60$4
47 years$640$366$200$106$54$3
48 years$619$350$188$98$49$3
49 years$600$334$177$90$45$2
50 years$581$319$166$83$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $595,000, adding $5,851 every year, while hoping to spend $37,177 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: 74/17/9 Blend
65$595,000$595,000$595,000$595,000
66$661,725$630,190$620,968$709,241
67$689,665$621,514$602,214$732,692
68$719,209$611,166$581,586$753,129
69$750,481$599,026$558,982$774,474
70$783,617$584,965$534,295$796,808
71$818,765$568,847$507,413$820,214
72$856,088$550,530$478,220$844,791
73$895,763$529,859$446,595$870,644
74$937,984$506,676$412,408$897,890
75$982,963$480,807$375,529$926,661
76$1,030,933$452,075$335,817$957,100
77$1,082,149$420,287$293,128$989,369
78$1,136,890$385,243$247,309$1,023,646
79$1,195,462$346,729$198,203$1,060,126
80$1,258,200$304,520$145,644$1,099,029
81$1,325,473$258,378$89,460$1,140,596
82$1,397,684$208,051$29,469$1,185,095
83$1,475,277$153,275$0$1,232,823
84$1,558,737$93,767$0$1,287,426
85$1,648,600$29,233$0$1,349,185
86$1,745,451$0$0$1,415,691
87$1,849,934$0$0$1,495,012
88$1,962,758$0$0$1,586,590
89$2,084,700$0$0$1,685,591
90$2,216,615$0$0$1,792,710
91$2,359,442$0$0$1,908,713
92$2,514,215$0$0$2,034,444
93$2,682,069$0$0$2,170,826
94$2,864,254$0$0$2,318,879
95$3,062,143$0$0$2,479,722
96$3,277,247$0$0$2,654,587
97$3,511,228$0$0$2,844,830
98$3,765,917$0$0$3,051,940
99$4,043,325$0$0$3,277,559
100$4,345,667$0$0$3,523,493