Can I retire at age 59 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$57,888$57,372$56,869$56,378$55,899$55,430
2 years$28,657$28,124$27,606$27,105$26,618$26,146
3 years$18,915$18,379$17,863$17,366$16,888$16,427
4 years$14,045$13,511$13,000$12,511$12,045$11,598
5 years$11,124$10,592$10,088$9,610$9,156$8,725
6 years$9,177$8,650$8,153$7,685$7,245$6,830
7 years$7,787$7,264$6,775$6,318$5,892$5,494
8 years$6,745$6,226$5,746$5,300$4,888$4,507
9 years$5,934$5,421$4,949$4,515$4,116$3,751
10 years$5,287$4,779$4,315$3,892$3,507$3,159
11 years$4,757$4,254$3,798$3,387$3,016$2,684
12 years$4,316$3,818$3,371$2,971$2,614$2,297
13 years$3,943$3,451$3,012$2,623$2,279$1,978
14 years$3,624$3,136$2,706$2,328$1,998$1,711
15 years$3,347$2,865$2,443$2,076$1,759$1,487
16 years$3,106$2,629$2,215$1,859$1,555$1,297
17 years$2,893$2,421$2,016$1,670$1,379$1,134
18 years$2,703$2,237$1,840$1,505$1,226$994
19 years$2,534$2,073$1,685$1,360$1,093$874
20 years$2,382$1,927$1,546$1,232$976$769
21 years$2,245$1,795$1,422$1,118$873$678
22 years$2,121$1,675$1,311$1,017$783$599
23 years$2,007$1,567$1,210$926$703$530
24 years$1,903$1,468$1,119$844$632$469
25 years$1,807$1,378$1,037$771$568$416
26 years$1,719$1,295$961$705$512$369
27 years$1,638$1,219$893$645$462$327
28 years$1,562$1,148$830$591$417$291
29 years$1,492$1,083$772$542$376$258
30 years$1,427$1,023$719$498$340$230
31 years$1,366$967$671$457$307$204
32 years$1,309$915$626$420$278$182
33 years$1,255$867$584$386$252$162
34 years$1,205$821$546$355$228$144
35 years$1,158$779$510$327$206$128
36 years$1,113$739$477$301$187$114
37 years$1,071$702$447$278$169$102
38 years$1,032$667$418$256$154$91
39 years$994$635$392$236$139$81
40 years$958$604$367$218$126$72
41 years$925$575$345$201$115$64
42 years$892$547$323$185$104$57
43 years$862$522$303$171$94$51
44 years$833$497$285$158$86$46
45 years$805$474$267$146$78$41
46 years$779$452$251$135$71$36
47 years$754$432$236$124$64$32
48 years$729$412$222$115$58$29
49 years$706$393$208$106$53$26
50 years$684$376$196$98$48$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $701,000, adding $5,303 every year, while hoping to spend $56,927 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: 26/46/28 Blend
58$701,000$701,000$701,000$701,000
59$777,972$740,819$729,954$791,294
60$796,755$716,549$693,837$778,372
61$815,547$689,182$654,603$759,309
62$834,286$658,506$612,086$737,687
63$852,908$624,297$566,115$713,331
64$871,334$586,318$516,510$686,051
65$889,481$544,318$463,083$655,649
66$907,250$498,031$405,639$621,913
67$924,533$447,179$343,971$584,615
68$941,209$391,464$277,868$543,518
69$957,140$330,574$207,105$498,366
70$972,174$264,178$131,449$448,889
71$986,140$191,927$50,656$394,799
72$998,847$113,452$0$335,790
73$1,010,082$28,363$0$282,161
74$1,019,607$0$0$239,782
75$1,027,159$0$0$225,487
76$1,032,442$0$0$224,834
77$1,035,131$0$0$223,368
78$1,034,862$0$0$220,985
79$1,031,230$0$0$217,565
80$1,023,789$0$0$212,979
81$1,012,041$0$0$207,082
82$995,435$0$0$199,713
83$973,361$0$0$190,695
84$945,141$0$0$179,831
85$910,027$0$0$166,905
86$867,188$0$0$151,675
87$815,706$0$0$133,875
88$754,565$0$0$113,212
89$682,641$0$0$89,361
90$598,691$0$0$61,961
91$501,340$0$0$30,616
92$389,069$0$0$0
93$260,200$0$0$0
94$112,876$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0