Can I retire at age 59 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$47,896$47,469$47,053$46,647$46,250$44,538
2 years$23,711$23,269$22,841$22,426$22,024$20,319
3 years$15,650$15,207$14,780$14,369$13,973$12,328
4 years$11,621$11,179$10,756$10,352$9,966$8,393
5 years$9,204$8,764$8,347$7,951$7,576$6,080
6 years$7,593$7,157$6,746$6,359$5,994$4,577
7 years$6,443$6,010$5,606$5,228$4,875$3,535
8 years$5,580$5,152$4,754$4,385$4,044$2,780
9 years$4,910$4,486$4,095$3,735$3,406$2,216
10 years$4,374$3,954$3,570$3,220$2,902$1,785
11 years$3,936$3,520$3,143$2,802$2,496$1,449
12 years$3,571$3,159$2,789$2,458$2,163$1,183
13 years$3,263$2,855$2,492$2,170$1,886$971
14 years$2,998$2,595$2,239$1,926$1,653$800
15 years$2,770$2,371$2,022$1,718$1,456$661
16 years$2,570$2,175$1,833$1,538$1,287$548
17 years$2,393$2,003$1,668$1,382$1,141$455
18 years$2,237$1,851$1,522$1,246$1,014$378
19 years$2,097$1,715$1,394$1,125$904$315
20 years$1,971$1,594$1,279$1,019$808$263
21 years$1,858$1,485$1,177$925$723$219
22 years$1,754$1,386$1,084$841$648$183
23 years$1,660$1,296$1,001$766$581$153
24 years$1,574$1,215$926$699$523$128
25 years$1,495$1,140$858$638$470$107
26 years$1,422$1,071$795$583$424$90
27 years$1,355$1,008$739$534$382$75
28 years$1,293$950$687$489$345$63
29 years$1,235$896$639$449$311$53
30 years$1,181$846$595$412$281$44
31 years$1,130$800$555$378$254$37
32 years$1,083$757$518$348$230$31
33 years$1,039$717$483$320$208$26
34 years$997$680$452$294$188$22
35 years$958$645$422$271$171$18
36 years$921$612$395$249$155$15
37 years$886$581$370$230$140$13
38 years$854$552$346$212$127$11
39 years$822$525$324$195$115$9
40 years$793$500$304$180$104$8
41 years$765$476$285$166$95$6
42 years$738$453$267$153$86$5
43 years$713$431$251$142$78$4
44 years$689$411$236$131$71$4
45 years$666$392$221$121$64$3
46 years$644$374$208$111$58$3
47 years$624$357$195$103$53$2
48 years$604$341$183$95$48$2
49 years$585$326$172$88$44$2
50 years$566$311$162$81$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $580,000, adding $2,071 every year, while hoping to spend $22,843 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: 48/25/27 Blend
58$580,000$580,000$580,000$580,000
59$641,296$610,556$601,566$667,052
60$682,404$616,169$597,414$690,967
61$726,938$621,291$592,357$714,510
62$775,226$625,874$586,341$739,631
63$827,624$629,867$579,309$766,490
64$884,527$633,215$571,200$795,264
65$946,367$635,861$561,954$826,150
66$1,013,621$637,743$551,504$859,364
67$1,086,813$638,794$539,781$895,149
68$1,166,518$638,946$526,715$933,771
69$1,253,373$638,124$512,229$975,525
70$1,348,075$636,250$496,247$1,020,738
71$1,451,392$633,240$478,685$1,069,772
72$1,564,171$629,005$459,457$1,123,027
73$1,687,342$623,453$438,475$1,180,947
74$1,821,931$616,482$415,644$1,244,020
75$1,969,066$607,988$390,867$1,312,790
76$2,129,990$597,858$364,040$1,387,856
77$2,306,071$585,975$335,057$1,469,880
78$2,498,815$572,212$303,806$1,559,595
79$2,709,880$556,438$270,170$1,657,812
80$2,941,095$538,509$234,027$1,765,425
81$3,194,469$518,279$195,250$1,883,424
82$3,472,220$495,589$153,705$2,012,902
83$3,776,786$470,273$109,254$2,155,069
84$4,110,855$442,154$61,751$2,311,259
85$4,477,388$411,045$11,046$2,482,946
86$4,879,645$376,749$0$2,671,759
87$5,321,217$339,059$0$2,891,905
88$5,806,061$297,752$0$3,137,167
89$6,338,535$252,598$0$3,406,601
90$6,923,439$203,348$0$3,702,683
91$7,566,062$149,744$0$4,028,142
92$8,272,230$91,512$0$4,385,987
93$9,048,361$28,360$0$4,779,537
94$9,901,528$0$0$5,212,451
95$10,839,520$0$0$5,699,775
96$11,870,920$0$0$6,244,276
97$13,005,185$0$0$6,843,156
98$14,252,733$0$0$7,501,923
99$15,625,043$0$0$8,226,648
100$17,134,762$0$0$9,024,020