Can I retire at age 30 with 588,000?

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 $588,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$48,556$48,124$47,702$47,290$46,888$46,111
2 years$24,038$23,590$23,156$22,736$22,328$21,547
3 years$15,866$15,416$14,984$14,567$14,166$13,406
4 years$11,781$11,333$10,904$10,495$10,103$9,370
5 years$9,331$8,885$8,462$8,061$7,680$6,976
6 years$7,697$7,255$6,839$6,446$6,077$5,402
7 years$6,531$6,093$5,683$5,300$4,942$4,297
8 years$5,657$5,223$4,820$4,446$4,100$3,485
9 years$4,978$4,547$4,151$3,787$3,453$2,867
10 years$4,434$4,008$3,619$3,264$2,942$2,385
11 years$3,990$3,568$3,186$2,841$2,530$2,001
12 years$3,620$3,203$2,828$2,492$2,193$1,691
13 years$3,308$2,894$2,526$2,200$1,912$1,437
14 years$3,040$2,631$2,270$1,953$1,676$1,227
15 years$2,808$2,403$2,049$1,742$1,476$1,052
16 years$2,605$2,205$1,858$1,559$1,304$904
17 years$2,426$2,031$1,691$1,401$1,156$780
18 years$2,268$1,877$1,543$1,263$1,028$674
19 years$2,126$1,739$1,413$1,141$917$584
20 years$1,998$1,616$1,297$1,033$819$507
21 years$1,883$1,505$1,193$938$733$440
22 years$1,779$1,405$1,099$853$657$383
23 years$1,683$1,314$1,015$777$589$333
24 years$1,596$1,231$939$708$530$291
25 years$1,516$1,156$869$647$477$254
26 years$1,442$1,086$806$591$429$221
27 years$1,374$1,022$749$541$387$193
28 years$1,311$963$696$496$349$169
29 years$1,252$909$648$455$315$148
30 years$1,197$858$603$417$285$129
31 years$1,146$811$563$383$258$113
32 years$1,098$768$525$352$233$99
33 years$1,053$727$490$324$211$87
34 years$1,011$689$458$298$191$76
35 years$971$653$428$274$173$66
36 years$934$620$400$253$157$58
37 years$899$589$375$233$142$51
38 years$865$560$351$215$129$45
39 years$834$532$329$198$117$39
40 years$804$506$308$183$106$34
41 years$776$482$289$168$96$30
42 years$749$459$271$155$87$26
43 years$723$437$254$143$79$23
44 years$699$417$239$132$72$20
45 years$675$398$224$122$65$18
46 years$653$379$211$113$59$16
47 years$632$362$198$104$54$14
48 years$612$346$186$96$49$12
49 years$593$330$175$89$44$11
50 years$574$315$164$82$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 30 starting with $588,000, adding $3,579 every year, while hoping to spend $41,465 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: 57/26/17 Blend
29$588,000$588,000$588,000$588,000
30$651,668$620,504$611,390$685,710
31$674,019$606,790$587,753$695,518
32$697,261$591,015$561,934$701,385
33$721,440$573,033$533,818$706,838
34$746,607$552,691$503,280$711,846
35$772,815$529,827$470,194$716,376
36$800,123$504,270$434,427$720,396
37$828,594$475,837$395,839$723,869
38$858,295$444,338$354,284$726,761
39$889,299$409,568$309,610$729,036
40$921,684$371,313$261,658$730,657
41$955,535$329,347$210,263$731,585
42$990,944$283,429$155,251$731,783
43$1,028,010$233,307$96,442$731,212
44$1,066,840$178,712$33,646$729,834
45$1,107,551$119,362$0$727,611
46$1,150,269$54,959$0$730,556
47$1,195,132$0$0$739,487
48$1,242,288$0$0$752,535
49$1,291,899$0$0$782,822
50$1,344,142$0$0$814,735
51$1,399,208$0$0$848,393
52$1,457,307$0$0$883,926
53$1,518,667$0$0$921,477
54$1,583,535$0$0$961,201
55$1,652,185$0$0$1,003,268
56$1,724,911$0$0$1,047,862
57$1,802,037$0$0$1,095,186
58$1,883,918$0$0$1,145,462
59$1,970,940$0$0$1,198,930
60$2,063,526$0$0$1,255,855
61$2,162,140$0$0$1,316,528
62$2,267,289$0$0$1,381,266
63$2,379,528$0$0$1,450,416
64$2,499,466$0$0$1,524,360
65$2,627,771$0$0$1,603,515
66$2,765,173$0$0$1,688,340
67$2,912,476$0$0$1,779,336
68$3,070,559$0$0$1,877,056
69$3,240,389$0$0$1,982,105
70$3,423,025$0$0$2,095,147
71$3,619,631$0$0$2,216,911
72$3,831,486$0$0$2,348,199
73$4,059,995$0$0$2,489,891
74$4,306,698$0$0$2,642,954
75$4,573,292$0$0$2,808,451
76$4,861,638$0$0$2,987,550
77$5,173,784$0$0$3,181,535
78$5,511,982$0$0$3,391,818
79$5,878,706$0$0$3,619,952
80$6,276,677$0$0$3,867,644
81$6,708,890$0$0$4,136,772
82$7,178,635$0$0$4,429,401
83$7,689,536$0$0$4,747,805
84$8,245,578$0$0$5,094,485
85$8,851,144$0$0$5,472,191
86$9,511,060$0$0$5,883,953
87$10,230,637$0$0$6,333,102
88$11,015,718$0$0$6,823,308
89$11,872,736$0$0$7,358,608
90$12,808,773$0$0$7,943,448
91$13,831,624$0$0$8,582,720
92$14,949,870$0$0$9,281,813
93$16,172,961$0$0$10,046,658
94$17,511,302$0$0$10,883,788
95$18,976,346$0$0$11,800,395
96$20,580,711$0$0$12,804,399
97$22,338,287$0$0$13,904,523
98$24,264,374$0$0$15,110,374
99$26,375,820$0$0$16,432,529
100$28,691,184$0$0$17,882,644