Can I retire at age 59 with 598,000?

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 $598,000?

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$49,382$48,942$48,513$48,094$47,685$47,031
2 years$24,447$23,991$23,550$23,122$22,707$22,049
3 years$16,136$15,679$15,238$14,815$14,406$13,765
4 years$11,981$11,525$11,090$10,673$10,275$9,655
5 years$9,489$9,036$8,606$8,198$7,811$7,214
6 years$7,828$7,379$6,955$6,556$6,180$5,608
7 years$6,643$6,197$5,780$5,390$5,026$4,479
8 years$5,754$5,312$4,902$4,522$4,170$3,646
9 years$5,062$4,625$4,222$3,851$3,512$3,012
10 years$4,510$4,076$3,681$3,320$2,992$2,516
11 years$4,058$3,629$3,240$2,889$2,573$2,121
12 years$3,682$3,257$2,876$2,534$2,230$1,800
13 years$3,364$2,944$2,569$2,237$1,945$1,537
14 years$3,091$2,676$2,308$1,986$1,705$1,319
15 years$2,856$2,444$2,084$1,771$1,501$1,136
16 years$2,649$2,243$1,890$1,586$1,326$981
17 years$2,468$2,065$1,720$1,425$1,176$851
18 years$2,306$1,908$1,570$1,284$1,046$739
19 years$2,162$1,769$1,437$1,160$932$643
20 years$2,032$1,644$1,319$1,051$833$561
21 years$1,915$1,531$1,213$954$745$490
22 years$1,809$1,429$1,118$867$668$429
23 years$1,712$1,337$1,032$790$599$375
24 years$1,623$1,252$955$720$539$329
25 years$1,542$1,175$884$658$485$288
26 years$1,467$1,105$820$602$437$253
27 years$1,397$1,039$762$551$394$222
28 years$1,333$979$708$504$355$196
29 years$1,273$924$659$463$321$172
30 years$1,217$873$614$425$290$151
31 years$1,165$825$572$390$262$133
32 years$1,117$781$534$358$237$117
33 years$1,071$739$498$330$215$103
34 years$1,028$701$466$303$194$91
35 years$988$665$435$279$176$80
36 years$950$631$407$257$159$71
37 years$914$599$381$237$144$62
38 years$880$569$357$218$131$55
39 years$848$541$334$201$119$48
40 years$818$515$313$186$108$43
41 years$789$490$294$171$98$38
42 years$761$467$276$158$89$33
43 years$735$445$259$146$80$29
44 years$711$424$243$135$73$26
45 years$687$404$228$124$66$23
46 years$664$386$214$115$60$20
47 years$643$368$201$106$55$18
48 years$622$351$189$98$50$16
49 years$603$336$178$91$45$14
50 years$584$321$167$84$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $598,000, adding $6,286 every year, while hoping to spend $24,486 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: 65/5/30 Blend
58$598,000$598,000$598,000$598,000
59$665,480$633,786$624,517$703,046
60$707,306$638,789$619,385$734,241
61$752,578$643,216$613,261$765,067
62$801,621$647,013$606,085$798,238
63$854,793$650,124$597,796$833,987
64$912,487$652,486$588,328$872,573
65$975,138$654,034$577,614$914,282
66$1,043,221$654,701$565,583$959,430
67$1,117,259$654,411$552,160$1,008,365
68$1,197,830$653,088$537,268$1,061,471
69$1,285,568$650,648$520,825$1,119,174
70$1,381,170$647,003$502,746$1,181,943
71$1,485,404$642,061$482,943$1,250,295
72$1,599,115$635,723$461,322$1,324,801
73$1,723,235$627,883$437,786$1,406,093
74$1,858,786$618,431$412,234$1,494,867
75$2,006,897$607,248$384,558$1,591,892
76$2,168,808$594,211$354,649$1,698,015
77$2,345,887$579,188$322,389$1,814,172
78$2,539,637$562,037$287,659$1,941,397
79$2,751,715$542,612$250,331$2,080,829
80$2,983,946$520,756$210,273$2,233,726
81$3,238,338$496,303$167,347$2,401,476
82$3,517,104$469,078$121,409$2,585,609
83$3,822,681$438,895$72,308$2,787,815
84$4,157,752$405,558$19,888$3,009,957
85$4,525,272$368,860$0$3,254,090
86$4,928,498$328,583$0$3,534,023
87$5,371,015$284,493$0$3,848,261
88$5,856,772$236,347$0$4,193,245
89$6,390,121$183,886$0$4,572,079
90$6,975,854$126,837$0$4,988,181
91$7,619,251$64,912$0$5,445,317
92$8,326,128$0$0$5,947,637
93$9,102,893$0$0$6,499,834
94$9,956,604$0$0$7,110,699
95$10,895,037$0$0$7,782,231
96$11,926,761$0$0$8,520,565
97$13,061,215$0$0$9,332,463
98$14,308,797$0$0$10,225,373
99$15,680,966$0$0$11,207,501
100$17,190,345$0$0$12,287,888