Can I retire at age 66 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$48,639$48,206$47,783$47,371$46,968$45,777
2 years$24,079$23,630$23,196$22,774$22,366$21,173
3 years$15,893$15,443$15,009$14,592$14,190$13,033
4 years$11,801$11,352$10,923$10,513$10,120$9,009
5 years$9,346$8,900$8,477$8,075$7,693$6,630
6 years$7,711$7,268$6,850$6,457$6,087$5,073
7 years$6,543$6,103$5,693$5,309$4,951$3,986
8 years$5,667$5,232$4,828$4,454$4,107$3,191
9 years$4,986$4,555$4,158$3,793$3,459$2,591
10 years$4,442$4,015$3,625$3,270$2,947$2,126
11 years$3,997$3,574$3,192$2,846$2,535$1,759
12 years$3,627$3,208$2,832$2,496$2,196$1,466
13 years$3,313$2,899$2,531$2,204$1,915$1,227
14 years$3,045$2,635$2,274$1,956$1,679$1,032
15 years$2,813$2,407$2,053$1,745$1,478$872
16 years$2,609$2,209$1,861$1,562$1,306$738
17 years$2,430$2,034$1,694$1,404$1,158$626
18 years$2,272$1,880$1,546$1,265$1,030$533
19 years$2,130$1,742$1,415$1,143$918$454
20 years$2,002$1,619$1,299$1,035$820$387
21 years$1,886$1,508$1,195$939$734$331
22 years$1,782$1,408$1,101$854$658$283
23 years$1,686$1,316$1,017$778$590$242
24 years$1,599$1,233$940$710$531$208
25 years$1,519$1,158$871$648$478$178
26 years$1,445$1,088$808$592$430$153
27 years$1,376$1,024$750$542$388$131
28 years$1,313$965$697$497$350$112
29 years$1,254$910$649$456$316$97
30 years$1,199$860$604$418$286$83
31 years$1,148$813$563$384$258$71
32 years$1,100$769$526$353$234$61
33 years$1,055$728$491$325$211$53
34 years$1,013$690$459$299$191$45
35 years$973$655$429$275$173$39
36 years$935$621$401$253$157$33
37 years$900$590$375$233$142$29
38 years$867$561$352$215$129$25
39 years$835$533$329$198$117$21
40 years$805$507$309$183$106$18
41 years$777$483$290$169$96$16
42 years$750$460$272$156$87$14
43 years$724$438$255$144$79$12
44 years$700$418$239$133$72$10
45 years$677$398$225$123$65$9
46 years$654$380$211$113$59$7
47 years$633$363$198$105$54$6
48 years$613$346$186$97$49$6
49 years$594$331$175$89$44$5
50 years$575$316$165$83$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $589,000, adding $6,094 every year, while hoping to spend $34,683 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: 59/14/27 Blend
65$589,000$589,000$589,000$589,000
66$655,364$624,147$615,017$688,906
67$685,309$617,828$598,718$706,185
68$717,145$610,036$580,710$720,804
69$751,030$600,664$560,900$736,022
70$787,135$589,596$539,190$751,907
71$825,646$576,710$515,476$768,533
72$866,769$561,876$489,652$785,987
73$910,730$544,958$461,605$804,361
74$957,774$525,811$431,219$823,764
75$1,008,173$504,282$398,371$844,314
76$1,062,222$480,207$362,932$866,145
77$1,120,248$453,417$324,769$889,406
78$1,182,608$423,728$283,743$914,263
79$1,249,693$390,950$239,708$940,903
80$1,321,934$354,879$192,511$969,534
81$1,399,804$315,301$141,992$1,000,386
82$1,483,822$271,989$87,988$1,033,719
83$1,574,560$224,704$30,323$1,069,820
84$1,672,643$173,192$0$1,109,009
85$1,778,761$117,188$0$1,160,636
86$1,893,672$56,407$0$1,226,010
87$2,018,208$0$0$1,296,884
88$2,153,286$0$0$1,375,263
89$2,299,911$0$0$1,469,816
90$2,459,193$0$0$1,572,574
91$2,632,350$0$0$1,684,327
92$2,820,721$0$0$1,805,946
93$3,025,782$0$0$1,938,390
94$3,249,156$0$0$2,082,712
95$3,492,629$0$0$2,240,074
96$3,758,165$0$0$2,411,751
97$4,047,929$0$0$2,599,150
98$4,364,301$0$0$2,803,818
99$4,709,903$0$0$3,027,458
100$5,087,620$0$0$3,271,945