Can I retire at age 59 with 701,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.4%
1 years$57,888$57,372$56,869$56,378$55,899$53,787
2 years$28,657$28,124$27,606$27,105$26,618$24,516
3 years$18,915$18,379$17,863$17,366$16,888$14,860
4 years$14,045$13,511$13,000$12,511$12,045$10,107
5 years$11,124$10,592$10,088$9,610$9,156$7,314
6 years$9,177$8,650$8,153$7,685$7,245$5,499
7 years$7,787$7,264$6,775$6,318$5,892$4,242
8 years$6,745$6,226$5,746$5,300$4,888$3,333
9 years$5,934$5,421$4,949$4,515$4,116$2,654
10 years$5,287$4,779$4,315$3,892$3,507$2,134
11 years$4,757$4,254$3,798$3,387$3,016$1,730
12 years$4,316$3,818$3,371$2,971$2,614$1,411
13 years$3,943$3,451$3,012$2,623$2,279$1,156
14 years$3,624$3,136$2,706$2,328$1,998$951
15 years$3,347$2,865$2,443$2,076$1,759$785
16 years$3,106$2,629$2,215$1,859$1,555$650
17 years$2,893$2,421$2,016$1,670$1,379$539
18 years$2,703$2,237$1,840$1,505$1,226$447
19 years$2,534$2,073$1,685$1,360$1,093$372
20 years$2,382$1,927$1,546$1,232$976$310
21 years$2,245$1,795$1,422$1,118$873$258
22 years$2,121$1,675$1,311$1,017$783$215
23 years$2,007$1,567$1,210$926$703$180
24 years$1,903$1,468$1,119$844$632$150
25 years$1,807$1,378$1,037$771$568$125
26 years$1,719$1,295$961$705$512$105
27 years$1,638$1,219$893$645$462$88
28 years$1,562$1,148$830$591$417$73
29 years$1,492$1,083$772$542$376$61
30 years$1,427$1,023$719$498$340$51
31 years$1,366$967$671$457$307$43
32 years$1,309$915$626$420$278$36
33 years$1,255$867$584$386$252$30
34 years$1,205$821$546$355$228$25
35 years$1,158$779$510$327$206$21
36 years$1,113$739$477$301$187$18
37 years$1,071$702$447$278$169$15
38 years$1,032$667$418$256$154$12
39 years$994$635$392$236$139$10
40 years$958$604$367$218$126$9
41 years$925$575$345$201$115$7
42 years$892$547$323$185$104$6
43 years$862$522$303$171$94$5
44 years$833$497$285$158$86$4
45 years$805$474$267$146$78$4
46 years$779$452$251$135$71$3
47 years$754$432$236$124$64$3
48 years$729$412$222$115$58$2
49 years$706$393$208$106$53$2
50 years$684$376$196$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $701,000, adding $6,962 every year, while hoping to spend $47,321 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: 56/30/14 Blend
58$701,000$701,000$701,000$701,000
59$779,683$742,530$731,665$820,148
60$808,862$728,565$705,826$834,422
61$839,431$712,330$677,536$844,206
62$871,481$693,663$646,663$853,769
63$905,114$672,393$613,067$863,099
64$940,436$648,341$576,606$872,185
65$977,566$621,315$537,127$881,019
66$1,016,631$591,113$494,474$889,592
67$1,057,770$557,521$448,482$897,900
68$1,101,135$520,311$398,979$905,940
69$1,146,890$479,246$345,784$913,712
70$1,195,216$434,072$288,711$921,221
71$1,246,308$384,522$227,563$928,475
72$1,300,381$330,313$162,136$935,489
73$1,357,669$271,147$92,216$942,282
74$1,418,426$206,708$17,580$948,880
75$1,482,932$136,663$0$955,317
76$1,551,492$60,661$0$970,908
77$1,624,440$0$0$989,839
78$1,702,142$0$0$1,016,736
79$1,784,997$0$0$1,066,806
80$1,873,445$0$0$1,120,295
81$1,967,966$0$0$1,177,496
82$2,069,086$0$0$1,238,734
83$2,177,382$0$0$1,304,365
84$2,293,487$0$0$1,374,776
85$2,418,097$0$0$1,450,397
86$2,551,973$0$0$1,531,696
87$2,695,952$0$0$1,619,189
88$2,850,954$0$0$1,713,440
89$3,017,985$0$0$1,815,072
90$3,198,155$0$0$1,924,766
91$3,392,681$0$0$2,043,272
92$3,602,901$0$0$2,171,414
93$3,830,285$0$0$2,310,099
94$4,076,448$0$0$2,460,321
95$4,343,166$0$0$2,623,176
96$4,632,395$0$0$2,799,866
97$4,946,281$0$0$2,991,717
98$5,287,186$0$0$3,200,183
99$5,657,710$0$0$3,426,868
100$6,060,712$0$0$3,673,533