Can I retire at age 59 with 600,000?

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 $600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$49,547$49,106$48,676$48,255$47,845$46,669
2 years$24,528$24,072$23,629$23,200$22,783$21,606
3 years$16,190$15,731$15,289$14,864$14,455$13,313
4 years$12,021$11,564$11,127$10,709$10,309$9,211
5 years$9,521$9,066$8,635$8,225$7,837$6,786
6 years$7,855$7,403$6,978$6,578$6,201$5,198
7 years$6,665$6,217$5,799$5,408$5,043$4,089
8 years$5,773$5,329$4,918$4,537$4,184$3,277
9 years$5,079$4,640$4,236$3,864$3,523$2,664
10 years$4,525$4,090$3,693$3,331$3,002$2,189
11 years$4,072$3,641$3,251$2,899$2,582$1,814
12 years$3,694$3,268$2,885$2,543$2,237$1,513
13 years$3,375$2,953$2,578$2,245$1,951$1,269
14 years$3,102$2,685$2,316$1,993$1,710$1,069
15 years$2,865$2,452$2,091$1,777$1,506$903
16 years$2,658$2,250$1,896$1,591$1,331$766
17 years$2,476$2,072$1,725$1,430$1,180$651
18 years$2,314$1,915$1,575$1,289$1,049$555
19 years$2,169$1,775$1,442$1,164$935$473
20 years$2,039$1,649$1,323$1,054$835$404
21 years$1,922$1,536$1,217$957$748$346
22 years$1,815$1,434$1,122$870$670$296
23 years$1,718$1,341$1,036$792$601$254
24 years$1,629$1,256$958$723$541$218
25 years$1,547$1,179$887$660$486$187
26 years$1,472$1,108$823$604$438$161
27 years$1,402$1,043$764$552$395$138
28 years$1,337$983$710$506$356$119
29 years$1,277$927$661$464$322$102
30 years$1,221$876$616$426$291$88
31 years$1,169$828$574$391$263$76
32 years$1,120$783$536$360$238$65
33 years$1,075$742$500$331$215$56
34 years$1,032$703$467$304$195$48
35 years$991$667$437$280$177$42
36 years$953$633$409$258$160$36
37 years$917$601$382$238$145$31
38 years$883$571$358$219$131$27
39 years$851$543$336$202$119$23
40 years$820$517$315$186$108$20
41 years$791$492$295$172$98$17
42 years$764$468$277$159$89$15
43 years$738$446$260$146$81$13
44 years$713$425$244$135$73$11
45 years$689$406$229$125$67$9
46 years$667$387$215$115$60$8
47 years$645$369$202$107$55$7
48 years$624$353$190$98$50$6
49 years$605$337$178$91$45$5
50 years$586$322$168$84$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $600,000, adding $2,991 every year, while hoping to spend $28,639 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: 62/24/14 Blend
58$600,000$600,000$600,000$600,000
59$664,285$632,485$623,185$703,024
60$701,571$633,005$613,590$729,915
61$741,699$632,591$602,714$755,731
62$784,931$631,166$590,483$783,219
63$831,551$628,651$576,822$812,543
64$881,873$624,958$561,649$843,884
65$936,241$619,998$544,881$877,442
66$995,034$613,674$526,431$913,440
67$1,058,667$605,884$506,206$952,121
68$1,127,599$596,520$484,111$993,758
69$1,202,331$585,467$460,046$1,038,652
70$1,283,417$572,603$433,906$1,087,133
71$1,371,465$557,800$405,581$1,139,570
72$1,467,144$540,921$374,958$1,196,369
73$1,571,189$521,823$341,915$1,257,979
74$1,684,410$500,353$306,330$1,324,897
75$1,807,699$476,348$268,070$1,397,671
76$1,942,034$449,639$227,001$1,476,910
77$2,088,495$420,045$182,979$1,563,283
78$2,248,268$387,375$135,856$1,657,533
79$2,422,662$351,426$85,477$1,760,479
80$2,613,112$311,985$31,679$1,873,027
81$2,821,205$268,827$0$1,996,178
82$3,048,681$221,713$0$2,134,881
83$3,297,461$170,391$0$2,291,813
84$3,569,658$114,596$0$2,463,614
85$3,867,598$54,047$0$2,651,804
86$4,193,844$0$0$2,858,057
87$4,551,217$0$0$3,087,274
88$4,942,825$0$0$3,354,134
89$5,372,089$0$0$3,646,700
90$5,842,779$0$0$3,967,546
91$6,359,045$0$0$4,319,509
92$6,925,461$0$0$4,705,712
93$7,547,060$0$0$5,129,593
94$8,229,392$0$0$5,594,944
95$8,978,567$0$0$6,105,937
96$9,801,315$0$0$6,667,171
97$10,705,052$0$0$7,283,712
98$11,697,947$0$0$7,961,139
99$12,788,997$0$0$8,705,601
100$13,988,117$0$0$9,523,868