Can I retire at age 59 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$58,301$57,782$57,275$56,780$56,297$55,617
2 years$28,862$28,324$27,803$27,298$26,808$26,124
3 years$19,050$18,510$17,991$17,490$17,008$16,340
4 years$14,145$13,607$13,093$12,601$12,130$11,485
5 years$11,203$10,668$10,160$9,679$9,221$8,600
6 years$9,242$8,711$8,211$7,740$7,297$6,699
7 years$7,842$7,316$6,823$6,364$5,934$5,362
8 years$6,793$6,271$5,787$5,338$4,923$4,376
9 years$5,977$5,460$4,984$4,547$4,146$3,623
10 years$5,324$4,813$4,345$3,920$3,532$3,034
11 years$4,791$4,284$3,826$3,411$3,038$2,564
12 years$4,347$3,845$3,395$2,992$2,633$2,182
13 years$3,971$3,475$3,033$2,642$2,296$1,867
14 years$3,650$3,159$2,725$2,345$2,012$1,606
15 years$3,371$2,886$2,461$2,091$1,772$1,387
16 years$3,128$2,648$2,231$1,872$1,566$1,202
17 years$2,913$2,438$2,030$1,682$1,389$1,045
18 years$2,723$2,253$1,853$1,516$1,235$910
19 years$2,553$2,088$1,697$1,370$1,100$795
20 years$2,399$1,940$1,557$1,241$983$695
21 years$2,261$1,807$1,432$1,126$880$609
22 years$2,136$1,687$1,320$1,024$788$534
23 years$2,021$1,578$1,219$932$708$469
24 years$1,916$1,478$1,127$850$636$412
25 years$1,820$1,387$1,044$777$572$363
26 years$1,731$1,304$968$710$516$320
27 years$1,650$1,227$899$650$465$282
28 years$1,574$1,156$836$596$419$248
29 years$1,503$1,091$778$546$379$219
30 years$1,437$1,030$724$501$342$193
31 years$1,376$974$675$460$309$171
32 years$1,318$922$630$423$280$151
33 years$1,264$873$588$389$253$133
34 years$1,214$827$550$358$229$118
35 years$1,166$785$514$330$208$104
36 years$1,121$745$481$303$188$92
37 years$1,079$707$450$280$171$81
38 years$1,039$672$421$258$155$72
39 years$1,001$639$395$238$140$64
40 years$965$608$370$219$127$56
41 years$931$579$347$202$115$50
42 years$899$551$326$187$105$44
43 years$868$525$305$172$95$39
44 years$839$501$287$159$86$35
45 years$811$477$269$147$78$31
46 years$784$455$253$136$71$27
47 years$759$435$238$125$65$24
48 years$735$415$223$116$59$21
49 years$712$396$210$107$53$19
50 years$689$378$197$99$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $706,000, adding $2,178 every year, while hoping to spend $25,063 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: 72/6/22 Blend
58$706,000$706,000$706,000$706,000
59$780,259$742,841$731,898$832,066
60$833,178$752,573$729,749$876,600
61$890,655$761,942$726,689$922,169
62$953,129$770,904$722,660$971,459
63$1,021,081$779,411$717,602$1,024,835
64$1,095,042$787,413$711,453$1,082,702
65$1,175,597$794,857$704,146$1,145,504
66$1,263,387$801,684$695,614$1,213,732
67$1,359,120$807,834$685,785$1,287,927
68$1,463,574$813,241$674,582$1,368,685
69$1,577,605$817,837$661,928$1,456,665
70$1,702,158$821,548$647,739$1,552,590
71$1,838,269$824,295$631,930$1,657,260
72$1,987,082$825,995$614,409$1,771,557
73$2,149,855$826,560$595,083$1,896,451
74$2,327,974$825,895$573,852$2,033,014
75$2,522,965$823,901$550,613$2,182,426
76$2,736,507$820,472$525,258$2,345,990
77$2,970,450$815,494$497,674$2,525,141
78$3,226,832$808,850$467,742$2,721,461
79$3,507,898$800,413$435,340$2,936,694
80$3,816,118$790,047$400,338$3,172,764
81$4,154,214$777,612$362,602$3,431,791
82$4,525,185$762,956$321,991$3,716,113
83$4,932,334$745,920$278,357$4,028,307
84$5,379,297$726,335$231,547$4,371,213
85$5,870,082$704,023$181,400$4,747,963
86$6,409,103$678,793$127,750$5,162,011
87$7,001,223$650,445$70,421$5,617,161
88$7,651,799$618,768$9,231$6,117,609
89$8,366,731$583,536$0$6,667,982
90$9,152,522$544,514$0$7,286,538
91$10,016,333$501,449$0$7,968,904
92$10,966,056$454,077$0$8,719,155
93$12,010,385$402,118$0$9,544,172
94$13,158,898$345,275$0$10,451,534
95$14,422,148$283,236$0$11,449,596
96$15,811,762$215,670$0$12,547,562
97$17,340,551$142,227$0$13,755,573
98$19,022,631$62,540$0$15,084,807
99$20,873,553$0$0$16,547,577
100$22,910,453$0$0$18,159,025