Can I retire at age 59 with 623,000?

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 $623,000?

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$51,447$50,988$50,541$50,105$49,679$48,997
2 years$25,469$24,994$24,535$24,089$23,657$22,971
3 years$16,810$16,334$15,876$15,434$15,009$14,341
4 years$12,482$12,007$11,553$11,119$10,704$10,059
5 years$9,886$9,414$8,966$8,541$8,137$7,516
6 years$8,156$7,687$7,246$6,830$6,439$5,843
7 years$6,920$6,456$6,021$5,615$5,236$4,666
8 years$5,994$5,534$5,106$4,711$4,344$3,799
9 years$5,274$4,818$4,398$4,012$3,658$3,138
10 years$4,698$4,247$3,834$3,459$3,117$2,622
11 years$4,228$3,781$3,376$3,010$2,681$2,209
12 years$3,836$3,393$2,996$2,640$2,323$1,875
13 years$3,504$3,067$2,677$2,331$2,026$1,601
14 years$3,221$2,787$2,405$2,069$1,776$1,374
15 years$2,975$2,546$2,171$1,845$1,564$1,183
16 years$2,760$2,336$1,969$1,652$1,382$1,022
17 years$2,571$2,152$1,791$1,485$1,225$886
18 years$2,403$1,988$1,635$1,338$1,089$770
19 years$2,252$1,843$1,497$1,209$971$670
20 years$2,117$1,712$1,374$1,095$867$584
21 years$1,995$1,595$1,264$994$776$510
22 years$1,885$1,489$1,165$903$696$446
23 years$1,784$1,392$1,075$823$625$391
24 years$1,691$1,305$995$750$561$343
25 years$1,606$1,224$921$685$505$301
26 years$1,528$1,151$854$627$455$264
27 years$1,456$1,083$793$574$410$232
28 years$1,389$1,020$738$526$370$204
29 years$1,326$963$686$482$334$179
30 years$1,268$909$639$442$302$158
31 years$1,214$859$596$406$273$139
32 years$1,163$813$556$373$247$122
33 years$1,116$770$519$343$224$108
34 years$1,071$730$485$316$202$95
35 years$1,029$692$454$291$183$83
36 years$989$657$424$268$166$74
37 years$952$624$397$247$151$65
38 years$917$593$372$227$136$57
39 years$883$564$348$210$124$50
40 years$852$537$327$193$112$44
41 years$822$511$306$178$102$39
42 years$793$486$287$165$92$35
43 years$766$463$270$152$84$30
44 years$740$442$253$140$76$27
45 years$716$421$238$130$69$24
46 years$692$402$223$120$63$21
47 years$670$384$210$111$57$18
48 years$648$366$197$102$52$16
49 years$628$350$185$94$47$14
50 years$608$334$174$87$43$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $623,000, adding $4,776 every year, while hoping to spend $27,988 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: 45/48/7 Blend
58$623,000$623,000$623,000$623,000
59$691,472$658,453$648,797$721,029
60$732,224$660,939$640,753$744,398
61$776,193$662,608$631,501$766,441
62$823,680$663,391$620,971$789,692
63$875,013$663,214$609,091$814,271
64$930,552$661,999$595,784$840,312
65$990,694$659,663$580,968$867,965
66$1,055,876$656,117$564,561$897,394
67$1,126,576$651,268$546,474$928,785
68$1,203,321$645,015$526,616$962,342
69$1,286,693$637,253$504,891$998,292
70$1,377,329$627,872$481,198$1,036,890
71$1,475,930$616,751$455,432$1,078,414
72$1,583,269$603,766$427,483$1,123,178
73$1,700,196$588,784$397,237$1,171,528
74$1,827,645$571,664$364,574$1,223,848
75$1,966,647$552,257$329,368$1,280,564
76$2,118,332$530,405$291,490$1,342,149
77$2,283,949$505,942$250,802$1,409,127
78$2,464,870$478,691$207,161$1,482,081
79$2,662,605$448,465$160,420$1,561,655
80$2,878,818$415,067$110,421$1,648,562
81$3,115,340$378,289$57,003$1,743,596
82$3,374,189$337,909$0$1,847,632
83$3,657,584$293,694$0$1,961,642
84$3,967,972$245,399$0$2,091,244
85$4,308,044$192,763$0$2,233,381
86$4,680,767$135,511$0$2,389,386
87$5,089,406$73,352$0$2,560,731
88$5,537,560$5,981$0$2,749,046
89$6,029,190$0$0$2,956,134
90$6,568,660$0$0$3,219,336
91$7,160,778$0$0$3,511,768
92$7,810,839$0$0$3,832,896
93$8,524,675$0$0$4,185,612
94$9,308,712$0$0$4,573,100
95$10,170,028$0$0$4,998,869
96$11,116,421$0$0$5,466,785
97$12,156,481$0$0$5,981,107
98$13,299,672$0$0$6,546,525
99$14,556,420$0$0$7,168,210
100$15,938,212$0$0$7,851,856