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%12.2%
1 years$57,971$57,454$56,950$56,459$55,978$55,463
2 years$28,698$28,164$27,646$27,144$26,656$26,137
3 years$18,942$18,405$17,889$17,391$16,912$16,405
4 years$14,065$13,530$13,018$12,529$12,062$11,571
5 years$11,140$10,608$10,103$9,624$9,169$8,696
6 years$9,190$8,662$8,165$7,696$7,255$6,800
7 years$7,798$7,274$6,785$6,327$5,900$5,464
8 years$6,754$6,235$5,754$5,308$4,895$4,477
9 years$5,943$5,429$4,956$4,521$4,122$3,722
10 years$5,294$4,785$4,321$3,897$3,512$3,130
11 years$4,764$4,260$3,804$3,392$3,021$2,656
12 years$4,322$3,824$3,376$2,975$2,618$2,270
13 years$3,949$3,456$3,016$2,627$2,283$1,952
14 years$3,629$3,141$2,710$2,332$2,001$1,687
15 years$3,352$2,869$2,447$2,079$1,762$1,464
16 years$3,110$2,633$2,218$1,862$1,557$1,275
17 years$2,897$2,424$2,019$1,673$1,381$1,113
18 years$2,707$2,240$1,843$1,508$1,228$975
19 years$2,538$2,076$1,687$1,362$1,094$855
20 years$2,386$1,929$1,548$1,234$977$752
21 years$2,248$1,797$1,424$1,120$875$662
22 years$2,124$1,678$1,312$1,018$784$584
23 years$2,010$1,569$1,212$927$704$516
24 years$1,906$1,470$1,121$846$633$456
25 years$1,810$1,380$1,038$772$569$403
26 years$1,722$1,297$963$706$513$357
27 years$1,640$1,220$894$646$462$317
28 years$1,565$1,150$831$592$417$281
29 years$1,494$1,085$773$543$377$249
30 years$1,429$1,024$720$498$340$221
31 years$1,368$968$672$458$308$196
32 years$1,311$916$627$421$278$174
33 years$1,257$868$585$387$252$155
34 years$1,207$822$547$356$228$138
35 years$1,160$780$511$328$207$123
36 years$1,115$740$478$302$187$109
37 years$1,073$703$447$278$170$97
38 years$1,033$668$419$256$154$86
39 years$995$635$393$236$139$77
40 years$960$605$368$218$126$68
41 years$926$576$345$201$115$61
42 years$894$548$324$186$104$54
43 years$863$522$304$171$94$48
44 years$834$498$285$158$86$43
45 years$806$475$268$146$78$38
46 years$780$453$251$135$71$34
47 years$755$432$236$125$64$30
48 years$731$413$222$115$58$27
49 years$707$394$209$106$53$24
50 years$685$376$196$98$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $702,000, adding $2,055 every year, while hoping to spend $29,291 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: 55/33/12 Blend
58$702,000$702,000$702,000$702,000
59$775,724$738,518$727,637$815,899
60$823,682$743,540$720,847$848,402
61$875,551$747,826$712,848$880,406
62$931,697$751,310$703,569$914,569
63$992,526$753,920$692,934$951,101
64$1,058,482$755,580$680,866$990,238
65$1,130,054$756,210$667,282$1,032,236
66$1,207,780$755,725$652,096$1,077,382
67$1,292,252$754,034$635,220$1,125,992
68$1,384,119$751,040$616,558$1,178,415
69$1,484,100$746,641$596,013$1,235,038
70$1,592,980$740,729$573,481$1,296,289
71$1,711,628$733,188$548,857$1,362,639
72$1,840,997$723,897$522,026$1,434,611
73$1,982,137$712,726$492,873$1,512,782
74$2,136,204$699,539$461,273$1,597,790
75$2,304,471$684,191$427,100$1,690,341
76$2,488,337$666,526$390,218$1,791,213
77$2,689,346$646,384$350,488$1,901,267
78$2,909,194$623,592$307,765$2,021,455
79$3,149,751$597,967$261,894$2,152,829
80$3,413,075$569,317$212,717$2,296,547
81$3,701,433$537,438$160,067$2,453,895
82$4,017,320$502,113$103,770$2,626,288
83$4,363,486$463,116$43,645$2,815,290
84$4,742,957$420,204$0$3,022,631
85$5,159,067$373,122$0$3,252,844
86$5,615,489$321,603$0$3,511,545
87$6,116,267$265,360$0$3,795,493
88$6,665,857$204,093$0$4,107,282
89$7,269,165$137,484$0$4,449,777
90$7,931,598$65,198$0$4,826,139
91$8,659,109$0$0$5,239,854
92$9,458,259$0$0$5,699,532
93$10,336,274$0$0$6,230,654
94$11,301,115$0$0$6,814,368
95$12,361,551$0$0$7,455,988
96$13,527,245$0$0$8,161,370
97$14,808,841$0$0$8,936,965
98$16,218,068$0$0$9,789,879
99$17,767,845$0$0$10,727,942
100$19,472,409$0$0$11,759,782