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%15%
1 years$48,722$48,288$47,864$47,451$47,047$46,079
2 years$24,120$23,670$23,235$22,813$22,404$21,432
3 years$15,920$15,469$15,035$14,616$14,214$13,270
4 years$11,821$11,371$10,941$10,530$10,137$9,228
5 years$9,362$8,915$8,491$8,088$7,706$6,834
6 years$7,724$7,280$6,862$6,468$6,098$5,264
7 years$6,554$6,114$5,702$5,318$4,959$4,164
8 years$5,677$5,241$4,836$4,461$4,114$3,357
9 years$4,995$4,563$4,165$3,800$3,465$2,745
10 years$4,450$4,022$3,631$3,276$2,952$2,269
11 years$4,004$3,580$3,197$2,851$2,539$1,892
12 years$3,633$3,214$2,837$2,500$2,200$1,589
13 years$3,319$2,904$2,535$2,208$1,919$1,341
14 years$3,050$2,640$2,278$1,960$1,682$1,138
15 years$2,817$2,412$2,056$1,748$1,481$968
16 years$2,614$2,213$1,864$1,565$1,309$827
17 years$2,435$2,038$1,697$1,406$1,160$708
18 years$2,275$1,883$1,549$1,267$1,032$608
19 years$2,133$1,745$1,418$1,145$920$522
20 years$2,005$1,622$1,301$1,037$821$450
21 years$1,890$1,510$1,197$941$735$388
22 years$1,785$1,410$1,103$856$659$335
23 years$1,689$1,319$1,018$779$591$289
24 years$1,602$1,236$942$711$532$250
25 years$1,521$1,159$872$649$478$217
26 years$1,447$1,090$809$593$431$188
27 years$1,378$1,026$751$543$389$162
28 years$1,315$966$698$498$351$141
29 years$1,256$912$650$456$317$122
30 years$1,201$861$605$419$286$106
31 years$1,150$814$564$385$259$92
32 years$1,102$770$527$354$234$80
33 years$1,057$729$492$325$212$69
34 years$1,014$691$459$299$192$60
35 years$975$656$430$275$174$52
36 years$937$622$402$254$157$45
37 years$902$591$376$234$143$39
38 years$868$562$352$215$129$34
39 years$837$534$330$199$117$30
40 years$807$508$309$183$106$26
41 years$778$484$290$169$96$23
42 years$751$461$272$156$88$20
43 years$725$439$255$144$79$17
44 years$701$418$240$133$72$15
45 years$678$399$225$123$65$13
46 years$655$381$211$113$59$11
47 years$634$363$199$105$54$10
48 years$614$347$187$97$49$8
49 years$595$331$175$89$45$7
50 years$576$316$165$83$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $590,000, adding $5,285 every year, while hoping to spend $37,027 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: 41/46/13 Blend
71$590,000$590,000$590,000$590,000
72$655,631$624,361$615,216$679,790
73$683,109$615,559$596,430$688,515
74$712,149$605,084$575,773$693,891
75$742,871$592,815$553,144$698,899
76$775,406$578,625$528,436$703,523
77$809,897$562,378$501,539$707,747
78$846,502$543,930$472,335$711,556
79$885,391$523,128$440,705$714,940
80$926,752$499,813$406,520$717,886
81$970,791$473,813$369,647$720,390
82$1,017,730$444,949$329,950$722,446
83$1,067,817$413,030$287,281$724,054
84$1,121,320$377,854$241,491$725,218
85$1,178,536$339,210$192,422$725,949
86$1,239,786$296,871$139,908$726,261
87$1,305,427$250,601$83,778$726,178
88$1,375,848$200,147$23,851$725,730
89$1,451,476$145,245$0$724,957
90$1,532,779$85,615$0$729,471
91$1,620,272$20,960$0$737,666
92$1,714,521$0$0$746,334
93$1,816,147$0$0$780,414
94$1,925,830$0$0$828,706
95$2,044,322$0$0$880,938
96$2,172,444$0$0$937,481
97$2,311,102$0$0$998,741
98$2,461,290$0$0$1,065,167
99$2,624,104$0$0$1,137,252
100$2,800,745$0$0$1,215,538