Can I retire at age 59 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$57,971$57,454$56,950$56,459$55,978$55,142
2 years$28,698$28,164$27,646$27,144$26,656$25,816
3 years$18,942$18,405$17,889$17,391$16,912$16,093
4 years$14,065$13,530$13,018$12,529$12,062$11,271
5 years$11,140$10,608$10,103$9,624$9,169$8,409
6 years$9,190$8,662$8,165$7,696$7,255$6,526
7 years$7,798$7,274$6,785$6,327$5,900$5,203
8 years$6,754$6,235$5,754$5,308$4,895$4,229
9 years$5,943$5,429$4,956$4,521$4,122$3,487
10 years$5,294$4,785$4,321$3,897$3,512$2,908
11 years$4,764$4,260$3,804$3,392$3,021$2,446
12 years$4,322$3,824$3,376$2,975$2,618$2,072
13 years$3,949$3,456$3,016$2,627$2,283$1,766
14 years$3,629$3,141$2,710$2,332$2,001$1,512
15 years$3,352$2,869$2,447$2,079$1,762$1,299
16 years$3,110$2,633$2,218$1,862$1,557$1,121
17 years$2,897$2,424$2,019$1,673$1,381$969
18 years$2,707$2,240$1,843$1,508$1,228$840
19 years$2,538$2,076$1,687$1,362$1,094$730
20 years$2,386$1,929$1,548$1,234$977$635
21 years$2,248$1,797$1,424$1,120$875$553
22 years$2,124$1,678$1,312$1,018$784$483
23 years$2,010$1,569$1,212$927$704$422
24 years$1,906$1,470$1,121$846$633$369
25 years$1,810$1,380$1,038$772$569$323
26 years$1,722$1,297$963$706$513$283
27 years$1,640$1,220$894$646$462$248
28 years$1,565$1,150$831$592$417$217
29 years$1,494$1,085$773$543$377$191
30 years$1,429$1,024$720$498$340$167
31 years$1,368$968$672$458$308$147
32 years$1,311$916$627$421$278$129
33 years$1,257$868$585$387$252$113
34 years$1,207$822$547$356$228$100
35 years$1,160$780$511$328$207$87
36 years$1,115$740$478$302$187$77
37 years$1,073$703$447$278$170$68
38 years$1,033$668$419$256$154$59
39 years$995$635$393$236$139$52
40 years$960$605$368$218$126$46
41 years$926$576$345$201$115$40
42 years$894$548$324$186$104$36
43 years$863$522$304$171$94$31
44 years$834$498$285$158$86$28
45 years$806$475$268$146$78$24
46 years$780$453$251$135$71$21
47 years$755$432$236$125$64$19
48 years$731$413$222$115$58$17
49 years$707$394$209$106$53$15
50 years$685$376$196$98$48$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $702,000, adding $4,164 every year, while hoping to spend $55,341 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: 58/35/7 Blend
58$702,000$702,000$702,000$702,000
59$777,899$740,693$729,812$821,608
60$798,362$718,105$695,378$828,872
61$819,058$692,555$657,936$830,156
62$839,952$663,839$617,327$830,181
63$861,003$631,744$573,383$828,828
64$882,166$596,040$525,932$825,973
65$903,387$556,486$474,792$821,480
66$924,608$512,829$419,772$815,204
67$945,758$464,798$360,675$806,989
68$966,762$412,109$297,294$796,665
69$987,530$354,461$229,412$784,050
70$1,007,965$291,537$156,804$768,948
71$1,027,955$223,000$79,235$751,149
72$1,047,376$148,496$0$730,424
73$1,066,086$67,650$0$706,793
74$1,083,929$0$0$686,059
75$1,100,728$0$0$669,708
76$1,116,287$0$0$678,588
77$1,130,387$0$0$686,500
78$1,142,783$0$0$693,289
79$1,153,201$0$0$698,779
80$1,161,339$0$0$702,773
81$1,166,858$0$0$705,056
82$1,169,382$0$0$705,386
83$1,168,494$0$0$703,494
84$1,163,730$0$0$699,084
85$1,154,576$0$0$691,824
86$1,140,461$0$0$681,349
87$1,120,752$0$0$667,252
88$1,094,747$0$0$649,085
89$1,061,670$0$0$626,348
90$1,020,659$0$0$598,491
91$970,762$0$0$564,902
92$910,925$0$0$524,906
93$839,980$0$0$477,755
94$756,638$0$0$422,623
95$659,470$0$0$358,597
96$546,900$0$0$284,664
97$417,182$0$0$199,710
98$268,390$0$0$102,500
99$98,394$0$0$0
100$0$0$0$0