Can I retire at age 50 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$48,639$48,206$47,783$47,371$46,968$46,076
2 years$24,079$23,630$23,196$22,774$22,366$21,471
3 years$15,893$15,443$15,009$14,592$14,190$13,319
4 years$11,801$11,352$10,923$10,513$10,120$9,281
5 years$9,346$8,900$8,477$8,075$7,693$6,888
6 years$7,711$7,268$6,850$6,457$6,087$5,317
7 years$6,543$6,103$5,693$5,309$4,951$4,215
8 years$5,667$5,232$4,828$4,454$4,107$3,406
9 years$4,986$4,555$4,158$3,793$3,459$2,792
10 years$4,442$4,015$3,625$3,270$2,947$2,314
11 years$3,997$3,574$3,192$2,846$2,535$1,934
12 years$3,627$3,208$2,832$2,496$2,196$1,628
13 years$3,313$2,899$2,531$2,204$1,915$1,378
14 years$3,045$2,635$2,274$1,956$1,679$1,172
15 years$2,813$2,407$2,053$1,745$1,478$1,001
16 years$2,609$2,209$1,861$1,562$1,306$857
17 years$2,430$2,034$1,694$1,404$1,158$736
18 years$2,272$1,880$1,546$1,265$1,030$633
19 years$2,130$1,742$1,415$1,143$918$546
20 years$2,002$1,619$1,299$1,035$820$472
21 years$1,886$1,508$1,195$939$734$408
22 years$1,782$1,408$1,101$854$658$353
23 years$1,686$1,316$1,017$778$590$306
24 years$1,599$1,233$940$710$531$266
25 years$1,519$1,158$871$648$478$231
26 years$1,445$1,088$808$592$430$200
27 years$1,376$1,024$750$542$388$174
28 years$1,313$965$697$497$350$151
29 years$1,254$910$649$456$316$132
30 years$1,199$860$604$418$286$115
31 years$1,148$813$563$384$258$100
32 years$1,100$769$526$353$234$87
33 years$1,055$728$491$325$211$76
34 years$1,013$690$459$299$191$66
35 years$973$655$429$275$173$58
36 years$935$621$401$253$157$50
37 years$900$590$375$233$142$44
38 years$867$561$352$215$129$38
39 years$835$533$329$198$117$33
40 years$805$507$309$183$106$29
41 years$777$483$290$169$96$25
42 years$750$460$272$156$87$22
43 years$724$438$255$144$79$19
44 years$700$418$239$133$72$17
45 years$677$398$225$123$65$15
46 years$654$380$211$113$59$13
47 years$633$363$198$105$54$11
48 years$613$346$186$97$49$10
49 years$594$331$175$89$44$8
50 years$575$316$165$83$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $589,000, adding $6,840 every year, while hoping to spend $25,857 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: 66/10/24 Blend
49$589,000$589,000$589,000$589,000
50$656,133$624,916$615,787$694,946
51$695,547$628,026$608,904$725,006
52$738,115$630,421$600,924$754,308
53$784,131$632,039$591,783$785,750
54$833,918$632,815$581,413$819,544
55$887,832$632,677$569,745$855,925
56$946,264$631,552$556,705$895,150
57$1,009,645$629,360$542,217$937,506
58$1,078,446$626,016$526,199$983,306
59$1,153,189$621,432$508,567$1,032,900
60$1,234,444$615,512$489,235$1,086,672
61$1,322,842$608,157$468,109$1,145,046
62$1,419,075$599,260$445,093$1,208,491
63$1,523,905$588,707$420,088$1,277,524
64$1,638,170$576,381$392,987$1,352,717
65$1,762,792$562,153$363,682$1,434,700
66$1,898,789$545,890$332,057$1,524,171
67$2,047,278$527,451$297,993$1,621,896
68$2,209,488$506,684$261,364$1,728,726
69$2,386,776$483,432$222,040$1,845,596
70$2,580,633$457,526$179,884$1,973,539
71$2,792,701$428,788$134,754$2,113,697
72$3,024,789$397,031$86,500$2,267,328
73$3,278,887$362,055$34,967$2,435,822
74$3,557,189$323,651$0$2,620,709
75$3,862,109$281,597$0$2,828,812
76$4,196,306$235,657$0$3,066,755
77$4,562,710$185,585$0$3,327,680
78$4,964,546$131,119$0$3,613,904
79$5,405,368$71,981$0$3,927,983
80$5,889,087$7,880$0$4,272,731
81$6,420,016$0$0$4,651,252
82$7,002,903$0$0$5,073,730
83$7,642,977$0$0$5,538,651
84$8,346,001$0$0$6,049,337
85$9,118,321$0$0$6,610,403
86$9,966,931$0$0$7,226,936
87$10,899,533$0$0$7,904,536
88$11,924,613$0$0$8,649,376
89$13,051,522$0$0$9,468,255
90$14,290,559$0$0$10,368,663
91$15,653,073$0$0$11,358,855
92$17,151,567$0$0$12,447,922
93$18,799,816$0$0$13,645,884
94$20,612,999$0$0$14,963,779
95$22,607,838$0$0$16,413,769
96$24,802,759$0$0$18,009,253
97$27,218,062$0$0$19,764,998
98$29,876,117$0$0$21,697,270
99$32,801,571$0$0$23,823,996
100$36,021,581$0$0$26,164,927