Can I retire at age 50 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%19.3%
1 years$48,556$48,124$47,702$47,290$46,888$45,135
2 years$24,038$23,590$23,156$22,736$22,328$20,581
3 years$15,866$15,416$14,984$14,567$14,166$12,481
4 years$11,781$11,333$10,904$10,495$10,103$8,493
5 years$9,331$8,885$8,462$8,061$7,680$6,149
6 years$7,697$7,255$6,839$6,446$6,077$4,626
7 years$6,531$6,093$5,683$5,300$4,942$3,571
8 years$5,657$5,223$4,820$4,446$4,100$2,807
9 years$4,978$4,547$4,151$3,787$3,453$2,236
10 years$4,434$4,008$3,619$3,264$2,942$1,800
11 years$3,990$3,568$3,186$2,841$2,530$1,460
12 years$3,620$3,203$2,828$2,492$2,193$1,191
13 years$3,308$2,894$2,526$2,200$1,912$977
14 years$3,040$2,631$2,270$1,953$1,676$804
15 years$2,808$2,403$2,049$1,742$1,476$664
16 years$2,605$2,205$1,858$1,559$1,304$550
17 years$2,426$2,031$1,691$1,401$1,156$456
18 years$2,268$1,877$1,543$1,263$1,028$379
19 years$2,126$1,739$1,413$1,141$917$316
20 years$1,998$1,616$1,297$1,033$819$263
21 years$1,883$1,505$1,193$938$733$219
22 years$1,779$1,405$1,099$853$657$183
23 years$1,683$1,314$1,015$777$589$153
24 years$1,596$1,231$939$708$530$128
25 years$1,516$1,156$869$647$477$107
26 years$1,442$1,086$806$591$429$90
27 years$1,374$1,022$749$541$387$75
28 years$1,311$963$696$496$349$63
29 years$1,252$909$648$455$315$52
30 years$1,197$858$603$417$285$44
31 years$1,146$811$563$383$258$37
32 years$1,098$768$525$352$233$31
33 years$1,053$727$490$324$211$26
34 years$1,011$689$458$298$191$22
35 years$971$653$428$274$173$18
36 years$934$620$400$253$157$15
37 years$899$589$375$233$142$13
38 years$865$560$351$215$129$11
39 years$834$532$329$198$117$9
40 years$804$506$308$183$106$7
41 years$776$482$289$168$96$6
42 years$749$459$271$155$87$5
43 years$723$437$254$143$79$4
44 years$699$417$239$132$72$4
45 years$675$398$224$122$65$3
46 years$653$379$211$113$59$3
47 years$632$362$198$104$54$2
48 years$612$346$186$96$49$2
49 years$593$330$175$89$44$2
50 years$574$315$164$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $588,000, adding $3,416 every year, while hoping to spend $47,013 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: 81/7/12 Blend
49$588,000$588,000$588,000$588,000
50$651,500$620,336$611,222$702,579
51$667,931$600,711$581,676$716,964
52$684,463$578,548$549,565$726,253
53$701,056$553,675$514,753$735,066
54$717,664$525,906$477,098$743,333
55$734,238$495,047$436,453$750,976
56$750,718$460,892$392,662$757,908
57$767,039$423,224$345,564$764,036
58$783,127$381,812$294,990$769,254
59$798,899$336,413$240,765$773,449
60$814,259$286,770$182,703$776,496
61$829,103$232,612$120,614$778,257
62$843,313$173,651$54,296$778,580
63$856,756$109,585$0$777,300
64$869,284$40,093$0$776,343
65$880,732$0$0$780,955
66$890,915$0$0$786,695
67$899,628$0$0$794,203
68$906,641$0$0$800,185
69$911,700$0$0$804,414
70$914,521$0$0$806,637
71$914,790$0$0$806,572
72$912,156$0$0$803,906
73$906,231$0$0$798,293
74$896,585$0$0$789,348
75$882,739$0$0$776,644
76$864,164$0$0$759,707
77$840,273$0$0$738,014
78$810,416$0$0$710,985
79$773,874$0$0$677,975
80$729,849$0$0$638,274
81$677,460$0$0$591,095
82$615,732$0$0$535,567
83$543,587$0$0$470,726
84$459,833$0$0$395,509
85$363,150$0$0$308,737
86$252,083$0$0$209,111
87$125,022$0$0$95,192
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