Can I retire at age 59 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$58,136$57,618$57,113$56,619$56,138$55,072
2 years$28,780$28,244$27,725$27,221$26,732$25,663
3 years$18,996$18,458$17,940$17,441$16,960$15,920
4 years$14,105$13,568$13,055$12,565$12,096$11,093
5 years$11,171$10,638$10,132$9,651$9,195$8,233
6 years$9,216$8,687$8,188$7,718$7,276$6,355
7 years$7,820$7,295$6,804$6,345$5,917$5,038
8 years$6,773$6,253$5,770$5,323$4,909$4,071
9 years$5,960$5,444$4,970$4,534$4,134$3,337
10 years$5,309$4,799$4,333$3,908$3,522$2,766
11 years$4,777$4,272$3,815$3,401$3,029$2,312
12 years$4,335$3,835$3,385$2,984$2,625$1,946
13 years$3,960$3,465$3,025$2,634$2,289$1,648
14 years$3,639$3,150$2,718$2,338$2,007$1,401
15 years$3,362$2,877$2,454$2,085$1,767$1,196
16 years$3,119$2,640$2,225$1,867$1,562$1,024
17 years$2,905$2,431$2,024$1,678$1,385$879
18 years$2,715$2,247$1,848$1,512$1,231$757
19 years$2,545$2,082$1,692$1,366$1,097$653
20 years$2,393$1,935$1,553$1,237$980$564
21 years$2,255$1,802$1,428$1,123$877$487
22 years$2,130$1,682$1,316$1,021$786$422
23 years$2,015$1,573$1,215$930$706$366
24 years$1,911$1,474$1,124$848$634$317
25 years$1,815$1,384$1,041$774$571$276
26 years$1,727$1,300$965$708$514$239
27 years$1,645$1,224$897$648$464$208
28 years$1,569$1,153$833$594$418$181
29 years$1,499$1,088$776$545$378$158
30 years$1,433$1,027$722$500$341$137
31 years$1,372$971$673$459$309$119
32 years$1,314$919$628$422$279$104
33 years$1,261$870$587$388$253$91
34 years$1,210$825$548$357$229$79
35 years$1,163$782$513$329$207$69
36 years$1,118$743$479$303$188$60
37 years$1,076$705$449$279$170$52
38 years$1,036$670$420$257$154$46
39 years$998$637$394$237$140$40
40 years$962$606$369$219$127$35
41 years$929$577$346$202$115$30
42 years$896$550$325$186$104$26
43 years$866$524$305$172$95$23
44 years$836$499$286$159$86$20
45 years$809$476$268$146$78$17
46 years$782$454$252$135$71$15
47 years$757$433$237$125$64$13
48 years$733$414$223$116$58$12
49 years$709$395$209$107$53$10
50 years$687$377$197$99$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $704,000, adding $2,029 every year, while hoping to spend $20,307 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: 37/41/22 Blend
58$704,000$704,000$704,000$704,000
59$777,901$740,589$729,677$801,471
60$835,640$755,271$732,515$833,519
61$898,589$769,992$734,767$866,074
62$967,255$784,733$736,392$900,827
63$1,042,202$799,472$737,348$937,989
64$1,124,047$814,185$737,589$977,792
65$1,213,469$828,850$737,068$1,020,492
66$1,311,217$843,438$735,734$1,066,370
67$1,418,116$857,921$733,535$1,115,740
68$1,535,072$872,268$730,418$1,168,945
69$1,663,087$886,446$726,324$1,226,365
70$1,803,258$900,419$721,193$1,288,420
71$1,956,800$914,148$714,961$1,355,574
72$2,125,045$927,593$707,564$1,428,337
73$2,309,464$940,710$698,932$1,507,275
74$2,511,674$953,450$688,992$1,593,010
75$2,733,460$965,764$677,668$1,686,231
76$2,976,784$977,597$664,881$1,787,697
77$3,243,809$988,893$650,548$1,898,246
78$3,536,918$999,589$634,581$2,018,803
79$3,858,735$1,009,619$616,890$2,150,389
80$4,212,149$1,018,915$597,380$2,294,132
81$4,600,347$1,027,400$575,950$2,451,275
82$5,026,835$1,034,995$552,497$2,623,191
83$5,495,478$1,041,616$526,912$2,811,394
84$6,010,535$1,047,173$499,081$3,017,555
85$6,576,694$1,051,569$468,885$3,243,520
86$7,199,123$1,054,702$436,200$3,491,321
87$7,883,516$1,056,465$400,895$3,763,206
88$8,636,145$1,056,742$362,835$4,061,651
89$9,463,920$1,055,410$321,878$4,389,388
90$10,374,455$1,052,341$277,876$4,749,434
91$11,376,138$1,047,395$230,674$5,145,113
92$12,478,214$1,040,426$180,111$5,580,096
93$13,690,865$1,031,280$126,018$6,058,429
94$15,025,312$1,019,792$68,218$6,584,578
95$16,493,919$1,005,787$6,529$7,163,465
96$18,110,309$989,081$0$7,800,524
97$19,889,492$969,478$0$8,515,666
98$21,848,008$946,769$0$9,304,116
99$24,004,080$920,737$0$10,171,678
100$26,377,791$891,147$0$11,126,439