Can I retire at age 59 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$58,218$57,700$57,194$56,700$56,218$55,264
2 years$28,821$28,284$27,764$27,260$26,770$25,812
3 years$19,023$18,484$17,965$17,465$16,984$16,052
4 years$14,125$13,588$13,074$12,583$12,113$11,213
5 years$11,187$10,653$10,146$9,665$9,208$8,344
6 years$9,229$8,699$8,199$7,729$7,286$6,458
7 years$7,831$7,305$6,814$6,354$5,926$5,134
8 years$6,783$6,262$5,779$5,331$4,916$4,161
9 years$5,968$5,452$4,977$4,541$4,140$3,421
10 years$5,317$4,806$4,339$3,914$3,527$2,844
11 years$4,784$4,278$3,820$3,406$3,034$2,385
12 years$4,341$3,840$3,390$2,988$2,629$2,014
13 years$3,966$3,470$3,029$2,638$2,292$1,711
14 years$3,645$3,154$2,722$2,342$2,010$1,460
15 years$3,366$2,882$2,457$2,088$1,769$1,250
16 years$3,123$2,644$2,228$1,870$1,564$1,074
17 years$2,909$2,435$2,027$1,680$1,387$926
18 years$2,719$2,250$1,851$1,514$1,233$800
19 years$2,549$2,085$1,694$1,368$1,099$692
20 years$2,396$1,938$1,555$1,239$982$600
21 years$2,258$1,805$1,430$1,124$878$521
22 years$2,133$1,685$1,318$1,022$787$453
23 years$2,018$1,576$1,217$931$707$394
24 years$1,914$1,476$1,126$849$635$343
25 years$1,818$1,385$1,042$776$572$299
26 years$1,729$1,302$967$709$515$261
27 years$1,647$1,225$898$649$464$228
28 years$1,571$1,155$835$595$419$199
29 years$1,501$1,089$777$545$378$174
30 years$1,435$1,029$723$501$342$152
31 years$1,374$973$674$460$309$133
32 years$1,316$920$629$422$279$116
33 years$1,263$871$588$388$253$102
34 years$1,212$826$549$357$229$89
35 years$1,164$783$513$329$207$78
36 years$1,120$744$480$303$188$68
37 years$1,077$706$449$279$170$60
38 years$1,037$671$421$257$154$52
39 years$1,000$638$394$237$140$46
40 years$964$607$370$219$127$40
41 years$930$578$347$202$115$35
42 years$898$550$325$186$105$31
43 years$867$524$305$172$95$27
44 years$838$500$286$159$86$24
45 years$810$477$269$147$78$21
46 years$783$455$253$136$71$18
47 years$758$434$237$125$64$16
48 years$734$414$223$116$59$14
49 years$710$396$210$107$53$12
50 years$688$378$197$99$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $705,000, adding $5,132 every year, while hoping to spend $26,934 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: 65/10/25 Blend
58$705,000$705,000$705,000$705,000
59$782,204$744,839$733,911$827,629
60$833,331$752,678$729,840$866,724
61$888,770$759,999$724,729$905,954
62$948,933$766,748$718,516$948,226
63$1,014,273$772,866$711,134$993,839
64$1,085,286$778,294$702,515$1,043,127
65$1,162,521$782,966$692,584$1,096,456
66$1,246,579$786,813$681,267$1,154,230
67$1,338,124$789,760$668,484$1,216,897
68$1,437,885$791,731$654,150$1,284,948
69$1,546,665$792,641$638,180$1,358,928
70$1,665,346$792,403$620,481$1,439,437
71$1,794,903$790,922$600,958$1,527,137
72$1,936,404$788,098$579,511$1,622,758
73$2,091,029$783,827$556,037$1,727,106
74$2,260,075$777,995$530,425$1,841,072
75$2,444,970$770,484$502,561$1,965,636
76$2,647,286$761,167$472,326$2,101,880
77$2,868,756$749,911$439,596$2,251,000
78$3,111,287$736,574$404,240$2,414,312
79$3,376,978$721,006$366,122$2,593,271
80$3,668,143$703,048$325,100$2,789,479
81$3,987,327$682,532$281,025$3,004,704
82$4,337,338$659,279$233,742$3,240,898
83$4,721,263$633,100$183,089$3,500,212
84$5,142,506$603,796$128,897$3,785,020
85$5,604,816$571,157$70,989$4,097,937
86$6,112,321$534,958$9,182$4,441,853
87$6,669,570$494,963$0$4,819,949
88$7,281,573$450,923$0$5,250,882
89$7,953,849$402,573$0$5,726,977
90$8,692,478$349,636$0$6,250,107
91$9,504,159$291,816$0$6,825,039
92$10,396,270$228,801$0$7,457,026
93$11,376,940$160,264$0$8,151,855
94$12,455,127$85,856$0$8,915,906
95$13,640,698$5,211$0$9,756,207
96$14,944,525$0$0$10,680,506
97$16,378,584$0$0$11,706,367
98$17,956,074$0$0$12,835,516
99$19,691,534$0$0$14,077,794
100$21,600,985$0$0$15,444,675