Can I retire at age 59 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$48,887$48,451$48,026$47,612$47,207$46,559
2 years$24,201$23,751$23,314$22,890$22,479$21,828
3 years$15,974$15,521$15,086$14,666$14,262$13,627
4 years$11,861$11,410$10,978$10,566$10,172$9,558
5 years$9,394$8,945$8,520$8,116$7,732$7,142
6 years$7,750$7,305$6,885$6,490$6,118$5,552
7 years$6,576$6,134$5,722$5,336$4,976$4,434
8 years$5,696$5,258$4,852$4,476$4,128$3,610
9 years$5,012$4,578$4,179$3,813$3,476$2,982
10 years$4,465$4,036$3,644$3,287$2,962$2,491
11 years$4,017$3,593$3,208$2,860$2,547$2,100
12 years$3,645$3,225$2,847$2,509$2,208$1,782
13 years$3,330$2,914$2,543$2,215$1,925$1,522
14 years$3,060$2,649$2,285$1,966$1,687$1,305
15 years$2,827$2,420$2,063$1,754$1,486$1,124
16 years$2,623$2,220$1,871$1,570$1,313$972
17 years$2,443$2,045$1,702$1,411$1,164$842
18 years$2,283$1,889$1,554$1,271$1,035$731
19 years$2,140$1,751$1,423$1,149$923$637
20 years$2,012$1,627$1,306$1,040$824$555
21 years$1,896$1,516$1,201$944$738$485
22 years$1,791$1,415$1,107$859$661$424
23 years$1,695$1,323$1,022$782$593$371
24 years$1,607$1,240$945$713$533$326
25 years$1,526$1,163$875$651$480$286
26 years$1,452$1,093$812$595$432$251
27 years$1,383$1,029$754$545$390$220
28 years$1,319$970$701$499$352$194
29 years$1,260$915$652$458$318$170
30 years$1,205$864$607$420$287$150
31 years$1,154$817$566$386$259$132
32 years$1,105$773$528$355$235$116
33 years$1,060$732$493$326$212$102
34 years$1,018$694$461$300$192$90
35 years$978$658$431$276$174$79
36 years$940$624$403$254$158$70
37 years$905$593$377$234$143$62
38 years$871$564$353$216$130$54
39 years$839$536$331$199$118$48
40 years$809$510$310$184$107$42
41 years$781$485$291$170$97$37
42 years$754$462$273$156$88$33
43 years$728$440$256$144$80$29
44 years$703$420$240$133$72$26
45 years$680$400$226$123$66$23
46 years$658$382$212$114$60$20
47 years$636$364$199$105$54$18
48 years$616$348$187$97$49$15
49 years$597$332$176$90$45$14
50 years$578$317$165$83$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $592,000, adding $4,495 every year, while hoping to spend $45,243 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: 83/10/7 Blend
58$592,000$592,000$592,000$592,000
59$657,021$625,645$616,469$710,753
60$675,898$608,163$588,982$729,048
61$695,186$588,308$559,058$742,581
62$714,876$565,917$526,568$756,035
63$734,961$540,815$491,376$769,375
64$755,431$512,818$453,341$782,562
65$776,272$481,734$412,315$795,554
66$797,468$447,355$368,144$808,302
67$819,000$409,465$320,667$820,755
68$840,844$367,835$269,715$832,854
69$862,972$322,221$215,113$844,538
70$885,353$272,368$156,677$855,736
71$907,949$218,004$94,216$866,373
72$930,718$158,844$27,530$876,363
73$953,608$94,585$0$885,617
74$976,564$24,907$0$897,291
75$999,521$0$0$910,421
76$1,022,405$0$0$928,405
77$1,045,132$0$0$948,980
78$1,067,608$0$0$969,319
79$1,089,727$0$0$989,324
80$1,111,369$0$0$1,008,886
81$1,132,398$0$0$1,027,880
82$1,152,664$0$0$1,046,168
83$1,171,997$0$0$1,063,595
84$1,190,208$0$0$1,079,988
85$1,207,084$0$0$1,095,151
86$1,222,389$0$0$1,108,869
87$1,235,858$0$0$1,120,899
88$1,247,199$0$0$1,130,973
89$1,256,082$0$0$1,138,790
90$1,262,145$0$0$1,144,017
91$1,264,980$0$0$1,146,282
92$1,264,139$0$0$1,145,175
93$1,259,122$0$0$1,140,236
94$1,249,373$0$0$1,130,959
95$1,234,276$0$0$1,116,780
96$1,213,151$0$0$1,097,074
97$1,185,239$0$0$1,071,148
98$1,149,703$0$0$1,038,238
99$1,105,615$0$0$997,491
100$1,051,947$0$0$947,970