Can I retire at age 59 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$48,969$48,533$48,108$47,692$47,287$47,068
2 years$24,242$23,791$23,353$22,929$22,517$22,296
3 years$16,001$15,548$15,111$14,691$14,286$14,070
4 years$11,881$11,429$10,997$10,584$10,189$9,979
5 years$9,410$8,961$8,534$8,129$7,745$7,543
6 years$7,763$7,317$6,897$6,501$6,129$5,933
7 years$6,587$6,145$5,731$5,345$4,984$4,796
8 years$5,705$5,267$4,861$4,484$4,135$3,954
9 years$5,020$4,586$4,186$3,819$3,482$3,309
10 years$4,472$4,042$3,650$3,292$2,967$2,801
11 years$4,024$3,599$3,213$2,865$2,552$2,393
12 years$3,651$3,230$2,852$2,513$2,211$2,060
13 years$3,336$2,919$2,548$2,219$1,928$1,784
14 years$3,066$2,653$2,289$1,970$1,690$1,553
15 years$2,832$2,424$2,067$1,756$1,488$1,357
16 years$2,627$2,224$1,874$1,573$1,315$1,191
17 years$2,447$2,048$1,705$1,413$1,166$1,048
18 years$2,287$1,892$1,557$1,273$1,037$925
19 years$2,144$1,754$1,425$1,151$924$818
20 years$2,015$1,630$1,308$1,042$826$725
21 years$1,899$1,518$1,203$946$739$643
22 years$1,794$1,417$1,109$860$662$572
23 years$1,698$1,325$1,024$783$594$509
24 years$1,610$1,242$947$714$534$454
25 years$1,529$1,165$877$652$481$405
26 years$1,454$1,095$813$596$433$362
27 years$1,385$1,031$755$546$390$323
28 years$1,322$971$702$500$352$289
29 years$1,262$916$653$459$318$259
30 years$1,207$865$609$421$287$232
31 years$1,155$818$567$387$260$208
32 years$1,107$774$529$355$235$186
33 years$1,062$733$494$327$213$167
34 years$1,019$695$462$301$193$150
35 years$979$659$432$277$174$135
36 years$942$625$404$255$158$121
37 years$906$594$378$235$143$109
38 years$873$565$354$216$130$97
39 years$841$537$332$200$118$88
40 years$811$511$311$184$107$79
41 years$782$486$291$170$97$71
42 years$755$463$273$157$88$64
43 years$729$441$257$145$80$57
44 years$705$421$241$134$72$51
45 years$681$401$226$123$66$46
46 years$659$383$212$114$60$42
47 years$637$365$200$105$54$37
48 years$617$348$188$97$49$34
49 years$598$333$176$90$45$30
50 years$579$318$166$83$41$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $593,000, adding $6,920 every year, while hoping to spend $29,368 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: 57/25/18 Blend
58$593,000$593,000$593,000$593,000
59$660,624$629,195$620,003$694,764
60$696,760$628,778$609,526$718,338
61$735,598$627,357$597,714$740,239
62$777,382$624,850$584,490$763,445
63$822,381$621,174$569,777$788,090
64$870,890$616,237$553,490$814,318
65$923,232$609,944$535,543$842,292
66$979,763$602,193$515,845$872,192
67$1,040,875$592,876$494,302$904,219
68$1,106,998$581,881$470,815$938,594
69$1,178,603$569,085$445,279$975,562
70$1,256,211$554,360$417,586$1,015,397
71$1,340,393$537,573$387,624$1,058,402
72$1,431,778$518,578$355,273$1,104,910
73$1,531,055$497,224$320,411$1,155,293
74$1,638,985$473,351$282,907$1,209,964
75$1,756,405$446,788$242,628$1,269,377
76$1,884,234$417,357$199,432$1,334,037
77$2,023,485$384,866$153,172$1,404,504
78$2,175,273$349,117$103,695$1,481,395
79$2,340,822$309,895$50,841$1,565,396
80$2,521,483$266,977$0$1,657,265
81$2,718,741$220,125$0$1,758,909
82$2,934,232$169,091$0$1,880,676
83$3,169,755$113,608$0$2,013,854
84$3,427,293$53,397$0$2,159,613
85$3,709,028$0$0$2,319,248
86$4,017,362$0$0$2,497,441
87$4,354,942$0$0$2,708,668
88$4,724,681$0$0$2,940,071
89$5,129,788$0$0$3,193,663
90$5,573,797$0$0$3,471,662
91$6,060,598$0$0$3,776,514
92$6,594,479$0$0$4,110,908
93$7,180,160$0$0$4,477,811
94$7,822,842$0$0$4,880,486
95$8,528,252$0$0$5,322,532
96$9,302,699$0$0$5,807,909
97$10,153,134$0$0$6,340,983
98$11,087,212$0$0$6,926,562
99$12,113,368$0$0$7,569,942
100$13,240,892$0$0$8,276,958