Can I retire at age 59 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$53,016$52,544$52,083$51,633$51,194$49,182
2 years$26,245$25,757$25,283$24,824$24,378$22,376
3 years$17,323$16,832$16,360$15,905$15,466$13,537
4 years$12,863$12,373$11,906$11,458$11,031$9,189
5 years$10,187$9,701$9,239$8,801$8,385$6,635
6 years$8,404$7,922$7,467$7,038$6,635$4,978
7 years$7,131$6,653$6,205$5,787$5,396$3,831
8 years$6,177$5,702$5,262$4,854$4,477$3,003
9 years$5,435$4,965$4,532$4,135$3,770$2,385
10 years$4,842$4,376$3,951$3,564$3,212$1,913
11 years$4,357$3,896$3,479$3,102$2,763$1,547
12 years$3,953$3,497$3,087$2,721$2,394$1,258
13 years$3,611$3,160$2,758$2,402$2,088$1,028
14 years$3,319$2,873$2,478$2,132$1,830$844
15 years$3,066$2,624$2,238$1,902$1,611$694
16 years$2,844$2,408$2,029$1,703$1,424$573
17 years$2,649$2,217$1,846$1,530$1,263$474
18 years$2,476$2,049$1,685$1,379$1,123$392
19 years$2,321$1,899$1,543$1,246$1,001$325
20 years$2,182$1,765$1,416$1,128$894$270
21 years$2,056$1,644$1,302$1,024$800$224
22 years$1,942$1,534$1,200$931$717$186
23 years$1,838$1,435$1,108$848$644$155
24 years$1,743$1,344$1,025$773$578$129
25 years$1,655$1,262$949$706$521$108
26 years$1,575$1,186$880$646$469$90
27 years$1,500$1,116$818$591$423$75
28 years$1,431$1,052$760$542$381$62
29 years$1,367$992$707$497$344$52
30 years$1,307$937$659$456$311$43
31 years$1,251$886$614$419$281$36
32 years$1,199$838$573$385$255$30
33 years$1,150$794$535$354$230$25
34 years$1,104$752$500$326$209$21
35 years$1,060$713$467$300$189$18
36 years$1,020$677$437$276$171$15
37 years$981$643$409$254$155$12
38 years$945$611$383$234$141$10
39 years$910$581$359$216$128$8
40 years$878$553$337$199$116$7
41 years$847$526$316$184$105$6
42 years$817$501$296$170$95$5
43 years$789$478$278$157$86$4
44 years$763$455$261$145$78$3
45 years$737$434$245$134$71$3
46 years$713$414$230$123$65$2
47 years$690$395$216$114$59$2
48 years$668$377$203$105$53$2
49 years$647$360$191$97$48$1
50 years$627$344$179$90$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $642,000, adding $5,776 every year, while hoping to spend $29,239 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: 69/16/15 Blend
58$642,000$642,000$642,000$642,000
59$713,442$679,416$669,465$759,808
60$755,103$681,597$660,782$793,592
61$800,033$682,905$650,828$826,514
62$848,536$683,267$639,530$861,788
63$900,943$682,604$626,811$899,641
64$957,620$680,832$612,590$940,325
65$1,018,969$677,864$596,783$984,117
66$1,085,431$673,607$579,302$1,031,324
67$1,157,492$667,960$560,056$1,082,284
68$1,235,685$660,820$538,947$1,137,372
69$1,320,598$652,073$515,875$1,196,998
70$1,412,877$641,602$490,735$1,261,618
71$1,513,232$629,282$463,416$1,331,734
72$1,622,445$614,980$433,803$1,407,901
73$1,741,375$598,556$401,777$1,490,730
74$1,870,970$579,860$367,211$1,580,897
75$2,012,271$558,735$329,975$1,679,147
76$2,166,424$535,014$289,930$1,786,303
77$2,334,692$508,522$246,935$1,903,272
78$2,518,462$479,071$200,838$2,031,056
79$2,719,264$446,464$151,485$2,170,761
80$2,938,781$410,493$98,713$2,323,606
81$3,178,867$370,937$42,350$2,490,937
82$3,441,562$327,564$0$2,674,240
83$3,729,113$280,126$0$2,878,002
84$4,043,994$228,364$0$3,108,600
85$4,388,930$172,003$0$3,361,275
86$4,766,922$110,753$0$3,638,260
87$5,181,275$44,306$0$3,942,015
88$5,635,627$0$0$4,275,254
89$6,133,988$0$0$4,645,837
90$6,680,773$0$0$5,061,024
91$7,280,845$0$0$5,516,712
92$7,939,561$0$0$6,016,972
93$8,662,823$0$0$6,566,292
94$9,457,130$0$0$7,169,614
95$10,329,643$0$0$7,832,382
96$11,288,252$0$0$8,560,593
97$12,341,645$0$0$9,360,855
98$13,499,397$0$0$10,240,447
99$14,772,056$0$0$11,207,388
100$16,171,241$0$0$12,270,513