Can I retire at age 59 with 295,000?

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 $295,000?

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$24,361$24,144$23,932$23,725$23,524$23,134
2 years$12,060$11,835$11,618$11,406$11,202$10,810
3 years$7,960$7,734$7,517$7,308$7,107$6,726
4 years$5,911$5,686$5,471$5,265$5,069$4,701
5 years$4,681$4,458$4,245$4,044$3,853$3,500
6 years$3,862$3,640$3,431$3,234$3,049$2,710
7 years$3,277$3,057$2,851$2,659$2,480$2,156
8 years$2,838$2,620$2,418$2,231$2,057$1,748
9 years$2,497$2,281$2,083$1,900$1,732$1,438
10 years$2,225$2,011$1,816$1,638$1,476$1,196
11 years$2,002$1,790$1,598$1,425$1,269$1,004
12 years$1,816$1,607$1,419$1,250$1,100$848
13 years$1,659$1,452$1,267$1,104$959$721
14 years$1,525$1,320$1,139$980$841$616
15 years$1,409$1,206$1,028$874$740$528
16 years$1,307$1,106$932$782$654$454
17 years$1,217$1,019$848$703$580$391
18 years$1,138$941$774$634$516$338
19 years$1,067$873$709$572$460$293
20 years$1,003$811$651$518$411$254
21 years$945$755$598$471$368$221
22 years$892$705$552$428$329$192
23 years$845$659$509$390$296$167
24 years$801$618$471$355$266$146
25 years$761$580$436$325$239$127
26 years$723$545$405$297$215$111
27 years$689$513$376$272$194$97
28 years$657$483$349$249$175$85
29 years$628$456$325$228$158$74
30 years$600$430$303$209$143$65
31 years$575$407$282$192$129$57
32 years$551$385$263$177$117$50
33 years$528$365$246$163$106$43
34 years$507$346$230$150$96$38
35 years$487$328$215$138$87$33
36 years$469$311$201$127$79$29
37 years$451$296$188$117$71$26
38 years$434$281$176$108$65$22
39 years$418$267$165$99$59$20
40 years$403$254$155$92$53$17
41 years$389$242$145$84$48$15
42 years$376$230$136$78$44$13
43 years$363$219$128$72$40$12
44 years$351$209$120$66$36$10
45 years$339$199$112$61$33$9
46 years$328$190$106$57$30$8
47 years$317$182$99$52$27$7
48 years$307$173$93$48$24$6
49 years$297$166$88$45$22$5
50 years$288$158$82$41$20$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $295,000, adding $3,904 every year, while hoping to spend $21,431 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: 54/18/28 Blend
58$295,000$295,000$295,000$295,000
59$329,117$313,482$308,909$344,140
60$339,884$306,040$296,456$347,504
61$351,032$297,515$282,866$348,648
62$362,576$287,832$268,081$349,465
63$374,533$276,910$252,035$349,931
64$386,921$264,664$234,664$350,022
65$399,759$251,006$215,898$349,712
66$413,069$235,839$195,665$348,974
67$426,871$219,064$173,888$347,782
68$441,188$200,574$150,490$346,105
69$456,045$180,258$125,387$343,913
70$471,467$157,997$98,494$341,175
71$487,484$133,666$69,720$337,857
72$504,124$107,132$38,972$333,925
73$521,419$78,256$6,152$329,343
74$539,403$46,890$0$324,075
75$558,112$12,878$0$326,707
76$577,587$0$0$331,095
77$597,868$0$0$340,136
78$619,000$0$0$352,219
79$641,033$0$0$364,822
80$664,018$0$0$377,975
81$688,013$0$0$391,713
82$713,077$0$0$406,070
83$739,276$0$0$421,086
84$766,682$0$0$436,801
85$795,372$0$0$453,261
86$825,428$0$0$470,516
87$856,941$0$0$488,617
88$890,009$0$0$507,623
89$924,738$0$0$527,597
90$961,244$0$0$548,606
91$999,653$0$0$570,724
92$1,040,100$0$0$594,033
93$1,082,735$0$0$618,620
94$1,127,721$0$0$644,580
95$1,175,233$0$0$672,019
96$1,225,464$0$0$701,049
97$1,278,625$0$0$731,796
98$1,334,946$0$0$764,396
99$1,394,678$0$0$798,995
100$1,458,094$0$0$835,758