Can I retire at age 59 with 707,000?

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 $707,000?

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$58,383$57,863$57,356$56,861$56,377$55,858
2 years$28,903$28,364$27,843$27,337$26,846$26,323
3 years$19,077$18,536$18,016$17,515$17,032$16,522
4 years$14,165$13,626$13,111$12,619$12,148$11,653
5 years$11,219$10,683$10,175$9,692$9,234$8,758
6 years$9,255$8,724$8,223$7,751$7,307$6,848
7 years$7,853$7,326$6,833$6,373$5,942$5,503
8 years$6,802$6,280$5,795$5,346$4,930$4,508
9 years$5,985$5,468$4,991$4,553$4,152$3,749
10 years$5,332$4,819$4,351$3,925$3,537$3,152
11 years$4,798$4,291$3,831$3,416$3,042$2,675
12 years$4,353$3,851$3,400$2,996$2,636$2,287
13 years$3,977$3,480$3,038$2,645$2,299$1,966
14 years$3,655$3,163$2,729$2,348$2,015$1,699
15 years$3,376$2,890$2,464$2,094$1,774$1,474
16 years$3,132$2,651$2,234$1,875$1,568$1,284
17 years$2,917$2,442$2,033$1,685$1,390$1,121
18 years$2,727$2,256$1,856$1,518$1,236$982
19 years$2,556$2,091$1,699$1,372$1,102$862
20 years$2,403$1,943$1,559$1,243$984$757
21 years$2,264$1,810$1,434$1,128$881$667
22 years$2,139$1,690$1,322$1,025$790$588
23 years$2,024$1,580$1,220$934$709$519
24 years$1,919$1,481$1,129$852$637$459
25 years$1,823$1,389$1,045$778$573$406
26 years$1,734$1,306$970$711$516$360
27 years$1,652$1,229$900$651$466$319
28 years$1,576$1,158$837$596$420$283
29 years$1,505$1,092$779$547$379$251
30 years$1,439$1,032$725$502$343$223
31 years$1,378$975$676$461$310$198
32 years$1,320$923$631$424$280$176
33 years$1,266$874$589$390$254$156
34 years$1,215$828$551$358$230$139
35 years$1,168$786$515$330$208$123
36 years$1,123$746$481$304$188$110
37 years$1,080$708$451$280$171$98
38 years$1,040$673$422$258$155$87
39 years$1,003$640$395$238$140$77
40 years$967$609$371$219$127$69
41 years$932$580$348$203$116$61
42 years$900$552$326$187$105$55
43 years$869$526$306$173$95$49
44 years$840$501$287$159$86$43
45 years$812$478$270$147$78$39
46 years$785$456$253$136$71$34
47 years$760$435$238$126$65$31
48 years$736$415$224$116$59$27
49 years$713$397$210$107$53$24
50 years$690$379$198$99$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $707,000, adding $3,021 every year, while hoping to spend $52,725 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: 49/37/14 Blend
58$707,000$707,000$707,000$707,000
59$782,230$744,759$733,801$817,399
60$805,919$725,153$702,284$822,331
61$830,256$702,820$667,944$821,965
62$855,253$677,569$630,632$820,396
63$880,920$649,201$590,189$817,530
64$907,266$617,503$546,452$813,266
65$934,298$582,252$499,249$807,497
66$962,023$543,210$448,401$800,108
67$990,449$500,126$393,721$790,978
68$1,019,578$452,735$335,014$779,979
69$1,049,413$400,758$272,076$766,974
70$1,079,956$343,897$204,693$751,817
71$1,111,204$281,841$132,643$734,356
72$1,143,154$214,259$55,693$714,424
73$1,175,799$140,801$0$691,850
74$1,209,130$61,099$0$670,394
75$1,243,132$0$0$655,049
76$1,277,788$0$0$647,592
77$1,313,077$0$0$665,312
78$1,348,971$0$0$683,317
79$1,385,438$0$0$701,588
80$1,422,440$0$0$720,103
81$1,459,929$0$0$738,835
82$1,497,854$0$0$757,754
83$1,536,150$0$0$776,825
84$1,574,746$0$0$796,007
85$1,613,560$0$0$815,255
86$1,652,495$0$0$834,514
87$1,691,444$0$0$853,725
88$1,730,283$0$0$872,819
89$1,768,872$0$0$891,719
90$1,807,053$0$0$910,338
91$1,844,649$0$0$928,578
92$1,881,457$0$0$946,327
93$1,917,253$0$0$963,463
94$1,951,782$0$0$979,846
95$1,984,760$0$0$995,320
96$2,015,870$0$0$1,009,712
97$2,044,756$0$0$1,022,827
98$2,071,022$0$0$1,034,449
99$2,094,224$0$0$1,044,336
100$2,113,869$0$0$1,052,219