Can I retire at age 72 with 590,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.5%
1 years$48,722$48,288$47,864$47,451$47,047$45,432
2 years$24,120$23,670$23,235$22,813$22,404$20,793
3 years$15,920$15,469$15,035$14,616$14,214$12,658
4 years$11,821$11,371$10,941$10,530$10,137$8,648
5 years$9,362$8,915$8,491$8,088$7,706$6,288
6 years$7,724$7,280$6,862$6,468$6,098$4,751
7 years$6,554$6,114$5,702$5,318$4,959$3,685
8 years$5,677$5,241$4,836$4,461$4,114$2,910
9 years$4,995$4,563$4,165$3,800$3,465$2,330
10 years$4,450$4,022$3,631$3,276$2,952$1,885
11 years$4,004$3,580$3,197$2,851$2,539$1,537
12 years$3,633$3,214$2,837$2,500$2,200$1,261
13 years$3,319$2,904$2,535$2,208$1,919$1,040
14 years$3,050$2,640$2,278$1,960$1,682$861
15 years$2,817$2,412$2,056$1,748$1,481$715
16 years$2,614$2,213$1,864$1,565$1,309$595
17 years$2,435$2,038$1,697$1,406$1,160$497
18 years$2,275$1,883$1,549$1,267$1,032$415
19 years$2,133$1,745$1,418$1,145$920$348
20 years$2,005$1,622$1,301$1,037$821$292
21 years$1,890$1,510$1,197$941$735$245
22 years$1,785$1,410$1,103$856$659$206
23 years$1,689$1,319$1,018$779$591$173
24 years$1,602$1,236$942$711$532$145
25 years$1,521$1,159$872$649$478$122
26 years$1,447$1,090$809$593$431$103
27 years$1,378$1,026$751$543$389$87
28 years$1,315$966$698$498$351$73
29 years$1,256$912$650$456$317$62
30 years$1,201$861$605$419$286$52
31 years$1,150$814$564$385$259$44
32 years$1,102$770$527$354$234$37
33 years$1,057$729$492$325$212$31
34 years$1,014$691$459$299$192$26
35 years$975$656$430$275$174$22
36 years$937$622$402$254$157$19
37 years$902$591$376$234$143$16
38 years$868$562$352$215$129$13
39 years$837$534$330$199$117$11
40 years$807$508$309$183$106$9
41 years$778$484$290$169$96$8
42 years$751$461$272$156$88$7
43 years$725$439$255$144$79$6
44 years$701$418$240$133$72$5
45 years$678$399$225$123$65$4
46 years$655$381$211$113$59$3
47 years$634$363$199$105$54$3
48 years$614$347$187$97$49$2
49 years$595$331$175$89$45$2
50 years$576$316$165$83$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $590,000, adding $3,107 every year, while hoping to spend $45,863 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: 79/12/9 Blend
71$590,000$590,000$590,000$590,000
72$653,385$622,115$612,970$703,864
73$671,232$603,801$584,706$719,120
74$689,363$583,052$553,959$729,570
75$707,757$559,701$520,596$739,683
76$726,393$533,570$484,480$749,405
77$745,242$504,472$445,467$758,673
78$764,273$472,208$403,407$767,424
79$783,451$436,568$358,143$775,583
80$802,733$397,330$309,511$783,073
81$822,072$354,260$257,340$789,806
82$841,414$307,109$201,451$795,687
83$860,696$255,615$141,658$800,612
84$879,850$199,503$77,766$804,468
85$898,795$138,479$9,572$807,130
86$917,442$72,234$0$808,461
87$935,691$443$0$814,383
88$953,428$0$0$820,037
89$970,526$0$0$834,548
90$986,844$0$0$848,427
91$1,002,223$0$0$861,478
92$1,016,483$0$0$873,545
93$1,029,427$0$0$884,455
94$1,040,833$0$0$894,015
95$1,050,454$0$0$902,010
96$1,058,016$0$0$908,199
97$1,063,212$0$0$912,316
98$1,065,702$0$0$914,065
99$1,065,108$0$0$913,117
100$1,061,011$0$0$909,104