Can I retire at age 72 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$48,722$48,288$47,864$47,451$47,047$46,771
2 years$24,120$23,670$23,235$22,813$22,404$22,124
3 years$15,920$15,469$15,035$14,616$14,214$13,941
4 years$11,821$11,371$10,941$10,530$10,137$9,872
5 years$9,362$8,915$8,491$8,088$7,706$7,450
6 years$7,724$7,280$6,862$6,468$6,098$5,851
7 years$6,554$6,114$5,702$5,318$4,959$4,722
8 years$5,677$5,241$4,836$4,461$4,114$3,887
9 years$4,995$4,563$4,165$3,800$3,465$3,247
10 years$4,450$4,022$3,631$3,276$2,952$2,744
11 years$4,004$3,580$3,197$2,851$2,539$2,340
12 years$3,633$3,214$2,837$2,500$2,200$2,010
13 years$3,319$2,904$2,535$2,208$1,919$1,737
14 years$3,050$2,640$2,278$1,960$1,682$1,509
15 years$2,817$2,412$2,056$1,748$1,481$1,317
16 years$2,614$2,213$1,864$1,565$1,309$1,153
17 years$2,435$2,038$1,697$1,406$1,160$1,012
18 years$2,275$1,883$1,549$1,267$1,032$891
19 years$2,133$1,745$1,418$1,145$920$787
20 years$2,005$1,622$1,301$1,037$821$696
21 years$1,890$1,510$1,197$941$735$616
22 years$1,785$1,410$1,103$856$659$547
23 years$1,689$1,319$1,018$779$591$486
24 years$1,602$1,236$942$711$532$432
25 years$1,521$1,159$872$649$478$385
26 years$1,447$1,090$809$593$431$343
27 years$1,378$1,026$751$543$389$306
28 years$1,315$966$698$498$351$273
29 years$1,256$912$650$456$317$244
30 years$1,201$861$605$419$286$218
31 years$1,150$814$564$385$259$195
32 years$1,102$770$527$354$234$174
33 years$1,057$729$492$325$212$156
34 years$1,014$691$459$299$192$139
35 years$975$656$430$275$174$125
36 years$937$622$402$254$157$112
37 years$902$591$376$234$143$100
38 years$868$562$352$215$129$90
39 years$837$534$330$199$117$80
40 years$807$508$309$183$106$72
41 years$778$484$290$169$96$65
42 years$751$461$272$156$88$58
43 years$725$439$255$144$79$52
44 years$701$418$240$133$72$47
45 years$678$399$225$123$65$42
46 years$655$381$211$113$59$37
47 years$634$363$199$105$54$34
48 years$614$347$187$97$49$30
49 years$595$331$175$89$45$27
50 years$576$316$165$83$40$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $590,000, adding $6,399 every year, while hoping to spend $56,697 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: 45/29/26 Blend
71$590,000$590,000$590,000$590,000
72$656,781$625,511$616,366$681,153
73$663,447$595,835$576,689$669,376
74$668,893$562,806$533,782$650,630
75$672,935$526,198$487,479$629,191
76$675,367$485,774$437,602$604,836
77$675,961$441,284$383,968$577,328
78$674,465$392,463$326,387$546,410
79$670,598$339,031$264,658$511,803
80$664,047$280,691$198,572$473,206
81$654,466$217,132$127,911$430,295
82$641,474$148,023$52,448$382,719
83$624,643$73,016$0$330,095
84$603,505$0$0$279,805
85$577,539$0$0$242,280
86$546,166$0$0$225,333
87$508,750$0$0$205,345
88$464,583$0$0$181,964
89$412,886$0$0$154,802
90$352,795$0$0$123,429
91$283,355$0$0$87,371
92$203,511$0$0$46,102
93$112,097$0$0$0
94$7,826$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