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%18.9%
1 years$58,301$57,782$57,275$56,780$56,297$54,278
2 years$28,862$28,324$27,803$27,298$26,808$24,796
3 years$19,050$18,510$17,991$17,490$17,008$15,066
4 years$14,145$13,607$13,093$12,601$12,130$10,273
5 years$11,203$10,668$10,160$9,679$9,221$7,454
6 years$9,242$8,711$8,211$7,740$7,297$5,620
7 years$7,842$7,316$6,823$6,364$5,934$4,348
8 years$6,793$6,271$5,787$5,338$4,923$3,426
9 years$5,977$5,460$4,984$4,547$4,146$2,736
10 years$5,324$4,813$4,345$3,920$3,532$2,208
11 years$4,791$4,284$3,826$3,411$3,038$1,795
12 years$4,347$3,845$3,395$2,992$2,633$1,469
13 years$3,971$3,475$3,033$2,642$2,296$1,208
14 years$3,650$3,159$2,725$2,345$2,012$997
15 years$3,371$2,886$2,461$2,091$1,772$826
16 years$3,128$2,648$2,231$1,872$1,566$686
17 years$2,913$2,438$2,030$1,682$1,389$571
18 years$2,723$2,253$1,853$1,516$1,235$476
19 years$2,553$2,088$1,697$1,370$1,100$397
20 years$2,399$1,940$1,557$1,241$983$332
21 years$2,261$1,807$1,432$1,126$880$278
22 years$2,136$1,687$1,320$1,024$788$233
23 years$2,021$1,578$1,219$932$708$195
24 years$1,916$1,478$1,127$850$636$164
25 years$1,820$1,387$1,044$777$572$137
26 years$1,731$1,304$968$710$516$115
27 years$1,650$1,227$899$650$465$97
28 years$1,574$1,156$836$596$419$81
29 years$1,503$1,091$778$546$379$68
30 years$1,437$1,030$724$501$342$57
31 years$1,376$974$675$460$309$48
32 years$1,318$922$630$423$280$40
33 years$1,264$873$588$389$253$34
34 years$1,214$827$550$358$229$29
35 years$1,166$785$514$330$208$24
36 years$1,121$745$481$303$188$20
37 years$1,079$707$450$280$171$17
38 years$1,039$672$421$258$155$14
39 years$1,001$639$395$238$140$12
40 years$965$608$370$219$127$10
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$6
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$4
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$3
49 years$712$396$210$107$53$2
50 years$689$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $706,000, adding $4,039 every year, while hoping to spend $36,735 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: 34/39/27 Blend
58$706,000$706,000$706,000$706,000
59$782,178$744,760$733,817$802,262
60$822,875$742,168$719,314$815,120
61$866,491$738,217$703,094$825,397
62$913,286$732,803$685,061$835,763
63$963,544$725,813$665,114$846,250
64$1,017,578$717,130$643,147$856,898
65$1,075,729$706,627$619,050$867,753
66$1,138,373$694,172$592,709$878,869
67$1,205,924$679,624$564,002$890,310
68$1,278,836$662,833$532,803$902,150
69$1,357,607$643,641$498,982$914,474
70$1,442,785$621,882$462,400$927,380
71$1,534,972$597,377$422,913$940,983
72$1,634,831$569,940$380,372$955,411
73$1,743,089$539,372$334,620$970,812
74$1,860,546$505,464$285,492$987,356
75$1,988,084$467,993$232,818$1,005,233
76$2,126,670$426,726$176,418$1,024,661
77$2,277,369$381,415$116,108$1,045,885
78$2,441,354$331,797$51,690$1,069,184
79$2,619,913$277,597$0$1,094,870
80$2,814,466$218,521$0$1,128,210
81$3,026,574$154,261$0$1,180,898
82$3,257,956$84,491$0$1,238,538
83$3,510,503$8,866$0$1,301,697
84$3,786,297$0$0$1,371,005
85$4,087,630$0$0$1,478,483
86$4,417,026$0$0$1,600,229
87$4,777,262$0$0$1,733,478
88$5,171,399$0$0$1,879,375
89$5,602,803$0$0$2,039,178
90$6,075,184$0$0$2,214,278
91$6,592,626$0$0$2,406,201
92$7,159,627$0$0$2,616,631
93$7,781,140$0$0$2,847,422
94$8,462,622$0$0$3,100,618
95$9,210,080$0$0$3,378,465
96$10,030,134$0$0$3,683,444
97$10,930,073$0$0$4,018,281
98$11,917,927$0$0$4,385,985
99$13,002,542$0$0$4,789,867
100$14,193,660$0$0$5,233,574