Can I retire at age 59 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$57,805$57,290$56,788$56,298$55,819$55,213
2 years$28,617$28,084$27,567$27,066$26,580$25,970
3 years$18,888$18,353$17,838$17,342$16,864$16,268
4 years$14,025$13,491$12,981$12,494$12,027$11,451
5 years$11,108$10,577$10,074$9,596$9,143$8,588
6 years$9,164$8,637$8,141$7,674$7,235$6,701
7 years$7,776$7,254$6,765$6,309$5,884$5,372
8 years$6,735$6,218$5,738$5,293$4,881$4,392
9 years$5,926$5,414$4,942$4,508$4,111$3,643
10 years$5,279$4,772$4,308$3,886$3,502$3,056
11 years$4,750$4,248$3,793$3,382$3,012$2,587
12 years$4,310$3,813$3,366$2,967$2,610$2,206
13 years$3,938$3,446$3,008$2,619$2,276$1,892
14 years$3,619$3,132$2,702$2,325$1,995$1,631
15 years$3,343$2,861$2,440$2,073$1,757$1,411
16 years$3,101$2,625$2,212$1,857$1,553$1,225
17 years$2,889$2,418$2,013$1,668$1,377$1,067
18 years$2,700$2,234$1,837$1,503$1,224$932
19 years$2,531$2,070$1,682$1,358$1,091$815
20 years$2,379$1,924$1,544$1,230$975$715
21 years$2,242$1,792$1,420$1,117$872$627
22 years$2,117$1,673$1,309$1,015$782$552
23 years$2,004$1,565$1,208$925$702$486
24 years$1,900$1,466$1,118$843$631$428
25 years$1,805$1,376$1,035$770$568$377
26 years$1,717$1,293$960$704$511$333
27 years$1,635$1,217$891$645$461$294
28 years$1,560$1,147$829$591$416$260
29 years$1,490$1,082$771$542$376$230
30 years$1,425$1,021$718$497$339$204
31 years$1,364$966$670$456$307$180
32 years$1,307$914$625$419$278$160
33 years$1,254$865$583$386$251$141
34 years$1,203$820$545$355$227$125
35 years$1,156$778$510$327$206$111
36 years$1,112$738$477$301$187$98
37 years$1,070$701$446$277$169$87
38 years$1,030$666$418$256$153$77
39 years$993$634$391$236$139$69
40 years$957$603$367$217$126$61
41 years$923$574$344$201$114$54
42 years$891$547$323$185$104$48
43 years$861$521$303$171$94$43
44 years$832$496$284$158$86$38
45 years$804$473$267$146$78$34
46 years$778$452$251$135$70$30
47 years$753$431$236$124$64$26
48 years$728$411$221$115$58$23
49 years$705$393$208$106$53$21
50 years$683$375$196$98$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $700,000, adding $3,083 every year, while hoping to spend $26,234 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: 47/23/30 Blend
58$700,000$700,000$700,000$700,000
59$774,580$737,480$726,630$804,189
60$825,675$745,704$723,059$833,684
61$881,101$753,451$718,490$862,905
62$941,275$760,671$712,860$894,130
63$1,006,650$767,310$706,107$927,563
64$1,077,729$773,309$698,162$963,429
65$1,155,063$778,606$688,955$1,001,975
66$1,239,257$783,136$678,414$1,043,479
67$1,330,981$786,829$666,460$1,088,244
68$1,430,968$789,610$653,013$1,136,609
69$1,540,027$791,401$637,989$1,188,947
70$1,659,047$792,118$621,299$1,245,671
71$1,789,008$791,670$602,852$1,307,239
72$1,930,989$789,964$582,549$1,374,155
73$2,086,176$786,899$560,291$1,446,981
74$2,255,877$782,367$535,971$1,526,333
75$2,441,529$776,256$509,479$1,612,895
76$2,644,718$768,446$480,700$1,707,425
77$2,867,189$758,808$449,512$1,810,756
78$3,110,861$747,209$415,790$1,923,813
79$3,377,851$733,505$379,401$2,047,615
80$3,670,490$717,544$340,209$2,183,292
81$3,991,342$699,167$298,069$2,332,088
82$4,343,235$678,202$252,830$2,495,380
83$4,729,282$654,471$204,337$2,674,688
84$5,152,911$627,782$152,424$2,871,692
85$5,617,900$597,935$96,922$3,088,247
86$6,128,408$564,716$37,651$3,326,400
87$6,689,018$527,900$0$3,588,414
88$7,304,780$487,249$0$3,884,979
89$7,981,254$442,510$0$4,224,053
90$8,724,567$393,418$0$4,596,680
91$9,541,468$339,691$0$5,006,286
92$10,439,394$281,032$0$5,456,652
93$11,426,536$217,126$0$5,951,942
94$12,511,919$147,643$0$6,496,752
95$13,705,488$72,230$0$7,096,147
96$15,018,198$0$0$7,755,711
97$16,462,118$0$0$8,483,999
98$18,050,549$0$0$9,305,376
99$19,798,142$0$0$10,209,147
100$21,721,043$0$0$11,203,673