Can I retire at age 45 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%12%
1 years$48,556$48,124$47,702$47,290$46,888$46,495
2 years$24,038$23,590$23,156$22,736$22,328$21,932
3 years$15,866$15,416$14,984$14,567$14,166$13,779
4 years$11,781$11,333$10,904$10,495$10,103$9,728
5 years$9,331$8,885$8,462$8,061$7,680$7,319
6 years$7,697$7,255$6,839$6,446$6,077$5,729
7 years$6,531$6,093$5,683$5,300$4,942$4,608
8 years$5,657$5,223$4,820$4,446$4,100$3,780
9 years$4,978$4,547$4,151$3,787$3,453$3,147
10 years$4,434$4,008$3,619$3,264$2,942$2,649
11 years$3,990$3,568$3,186$2,841$2,530$2,251
12 years$3,620$3,203$2,828$2,492$2,193$1,927
13 years$3,308$2,894$2,526$2,200$1,912$1,659
14 years$3,040$2,631$2,270$1,953$1,676$1,435
15 years$2,808$2,403$2,049$1,742$1,476$1,247
16 years$2,605$2,205$1,858$1,559$1,304$1,088
17 years$2,426$2,031$1,691$1,401$1,156$951
18 years$2,268$1,877$1,543$1,263$1,028$834
19 years$2,126$1,739$1,413$1,141$917$733
20 years$1,998$1,616$1,297$1,033$819$645
21 years$1,883$1,505$1,193$938$733$569
22 years$1,779$1,405$1,099$853$657$503
23 years$1,683$1,314$1,015$777$589$444
24 years$1,596$1,231$939$708$530$394
25 years$1,516$1,156$869$647$477$349
26 years$1,442$1,086$806$591$429$309
27 years$1,374$1,022$749$541$387$275
28 years$1,311$963$696$496$349$244
29 years$1,252$909$648$455$315$217
30 years$1,197$858$603$417$285$193
31 years$1,146$811$563$383$258$171
32 years$1,098$768$525$352$233$153
33 years$1,053$727$490$324$211$136
34 years$1,011$689$458$298$191$121
35 years$971$653$428$274$173$108
36 years$934$620$400$253$157$96
37 years$899$589$375$233$142$86
38 years$865$560$351$215$129$76
39 years$834$532$329$198$117$68
40 years$804$506$308$183$106$61
41 years$776$482$289$168$96$54
42 years$749$459$271$155$87$48
43 years$723$437$254$143$79$43
44 years$699$417$239$132$72$38
45 years$675$398$224$122$65$34
46 years$653$379$211$113$59$31
47 years$632$362$198$104$54$27
48 years$612$346$186$96$49$24
49 years$593$330$175$89$44$22
50 years$574$315$164$82$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 45 starting with $588,000, adding $3,091 every year, while hoping to spend $43,343 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: 40/46/14 Blend
44$588,000$588,000$588,000$588,000
45$651,164$620,000$610,886$674,380
46$671,467$604,264$585,234$675,379
47$692,387$586,303$557,271$671,987
48$713,943$565,965$526,871$667,377
49$736,151$543,083$493,908$661,462
50$759,031$517,487$458,246$654,144
51$782,600$488,992$419,745$645,325
52$806,877$457,404$378,258$634,896
53$831,880$422,518$333,632$622,746
54$857,628$384,118$285,705$608,754
55$884,141$341,975$234,311$592,796
56$911,438$295,846$179,275$574,737
57$939,539$245,476$120,415$554,437
58$968,462$190,595$57,539$531,745
59$998,228$130,917$0$506,505
60$1,028,856$66,141$0$479,978
61$1,060,366$0$0$459,824
62$1,092,776$0$0$439,338
63$1,126,106$0$0$452,696
64$1,160,375$0$0$466,425
65$1,195,600$0$0$480,533
66$1,231,800$0$0$495,025
67$1,268,991$0$0$509,908
68$1,307,189$0$0$525,188
69$1,346,409$0$0$540,869
70$1,386,665$0$0$556,956
71$1,427,969$0$0$573,453
72$1,470,332$0$0$590,363
73$1,513,763$0$0$607,688
74$1,558,267$0$0$625,428
75$1,603,849$0$0$643,585
76$1,650,509$0$0$662,156
77$1,698,246$0$0$681,138
78$1,747,052$0$0$700,528
79$1,796,917$0$0$720,317
80$1,847,826$0$0$740,497
81$1,899,758$0$0$761,056
82$1,952,685$0$0$781,982
83$2,006,575$0$0$803,255
84$2,061,384$0$0$824,856
85$2,117,064$0$0$846,760
86$2,173,554$0$0$868,938
87$2,230,783$0$0$891,355
88$2,288,668$0$0$913,974
89$2,347,114$0$0$936,749
90$2,406,008$0$0$959,627
91$2,465,224$0$0$982,549
92$2,524,615$0$0$1,005,449
93$2,584,013$0$0$1,028,249
94$2,643,230$0$0$1,050,862
95$2,702,049$0$0$1,073,190
96$2,760,228$0$0$1,095,122
97$2,817,493$0$0$1,116,534
98$2,873,533$0$0$1,137,286
99$2,928,003$0$0$1,157,221
100$2,980,511$0$0$1,176,164