Can I retire at age 30 with 587,000?

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 $587,000?

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$48,474$48,042$47,621$47,210$46,808$46,533
2 years$23,997$23,550$23,117$22,697$22,290$22,012
3 years$15,839$15,390$14,958$14,542$14,141$13,870
4 years$11,761$11,313$10,886$10,477$10,086$9,822
5 years$9,315$8,870$8,448$8,047$7,667$7,413
6 years$7,684$7,243$6,827$6,435$6,067$5,822
7 years$6,520$6,083$5,673$5,291$4,934$4,698
8 years$5,648$5,214$4,811$4,438$4,093$3,867
9 years$4,969$4,540$4,144$3,781$3,447$3,230
10 years$4,427$4,001$3,613$3,259$2,937$2,730
11 years$3,983$3,562$3,181$2,836$2,526$2,328
12 years$3,614$3,197$2,823$2,488$2,189$2,000
13 years$3,302$2,889$2,522$2,196$1,909$1,728
14 years$3,035$2,626$2,266$1,950$1,673$1,501
15 years$2,803$2,399$2,046$1,739$1,473$1,310
16 years$2,601$2,201$1,855$1,557$1,302$1,147
17 years$2,422$2,027$1,688$1,399$1,154$1,007
18 years$2,264$1,873$1,541$1,261$1,027$887
19 years$2,122$1,736$1,411$1,139$915$783
20 years$1,995$1,613$1,295$1,032$817$692
21 years$1,880$1,503$1,191$936$731$613
22 years$1,776$1,403$1,097$851$656$544
23 years$1,680$1,312$1,013$775$588$483
24 years$1,593$1,229$937$707$529$430
25 years$1,513$1,154$868$646$476$383
26 years$1,440$1,084$805$590$429$341
27 years$1,371$1,020$748$540$387$304
28 years$1,308$961$695$495$349$271
29 years$1,250$907$647$454$315$242
30 years$1,195$857$602$417$285$217
31 years$1,144$810$562$383$257$194
32 years$1,096$766$524$352$233$173
33 years$1,051$726$489$323$211$155
34 years$1,009$688$457$298$191$139
35 years$970$652$427$274$173$124
36 years$932$619$400$252$156$111
37 years$897$588$374$232$142$100
38 years$864$559$350$214$129$89
39 years$832$531$328$198$117$80
40 years$803$506$308$182$106$72
41 years$774$481$289$168$96$64
42 years$747$458$271$155$87$58
43 years$722$437$254$143$79$52
44 years$697$416$238$132$72$46
45 years$674$397$224$122$65$42
46 years$652$379$210$113$59$37
47 years$631$361$198$104$54$33
48 years$611$345$186$96$49$30
49 years$592$329$174$89$44$27
50 years$573$315$164$82$40$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 30 starting with $587,000, adding $6,474 every year, while hoping to spend $46,078 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: 62/9/29 Blend
29$587,000$587,000$587,000$587,000
30$653,552$622,441$613,342$688,609
31$671,188$603,914$584,863$694,683
32$689,078$582,935$553,885$695,760
33$707,200$559,335$520,276$695,964
34$725,527$532,935$483,898$695,218
35$744,029$503,547$444,607$693,439
36$762,669$470,970$402,250$690,540
37$781,408$434,994$356,672$686,425
38$800,197$395,395$307,707$680,993
39$818,985$351,936$255,182$674,132
40$837,709$304,369$198,919$665,725
41$856,302$252,430$138,729$655,643
42$874,685$195,839$74,417$643,748
43$892,772$134,304$5,778$629,892
44$910,462$67,512$0$613,914
45$927,646$0$0$616,517
46$944,198$0$0$620,385
47$959,980$0$0$630,389
48$974,834$0$0$639,735
49$988,588$0$0$648,303
50$1,001,045$0$0$655,959
51$1,011,989$0$0$662,555
52$1,021,177$0$0$667,923
53$1,028,341$0$0$671,879
54$1,033,180$0$0$674,218
55$1,035,361$0$0$674,710
56$1,034,514$0$0$673,101
57$1,030,227$0$0$669,110
58$1,022,044$0$0$662,423
59$1,009,458$0$0$652,694
60$991,908$0$0$639,537
61$968,772$0$0$622,527
62$939,360$0$0$601,191
63$902,909$0$0$575,007
64$858,573$0$0$543,395
65$805,418$0$0$505,716
66$742,408$0$0$461,261
67$668,398$0$0$409,246
68$582,122$0$0$348,805
69$482,182$0$0$278,980
70$367,028$0$0$198,713
71$234,953$0$0$106,834
72$84,066$0$0$2,051
73$0$0$0$0
74$0$0$0$0
75$0$0$0$0
76$0$0$0$0
77$0$0$0$0
78$0$0$0$0
79$0$0$0$0
80$0$0$0$0
81$0$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$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