Can I retire at age 59 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$58,466$57,945$57,437$56,941$56,457$56,148
2 years$28,944$28,405$27,882$27,376$26,884$26,573
3 years$19,104$18,563$18,042$17,540$17,056$16,752
4 years$14,185$13,646$13,130$12,636$12,165$11,869
5 years$11,235$10,698$10,189$9,706$9,248$8,962
6 years$9,268$8,736$8,234$7,762$7,317$7,042
7 years$7,864$7,336$6,843$6,382$5,951$5,686
8 years$6,812$6,289$5,803$5,353$4,937$4,683
9 years$5,994$5,475$4,998$4,560$4,158$3,914
10 years$5,339$4,826$4,358$3,931$3,542$3,310
11 years$4,805$4,297$3,836$3,421$3,047$2,824
12 years$4,359$3,856$3,405$3,001$2,640$2,428
13 years$3,983$3,485$3,042$2,649$2,302$2,100
14 years$3,660$3,168$2,733$2,351$2,018$1,825
15 years$3,381$2,894$2,468$2,097$1,777$1,593
16 years$3,137$2,655$2,237$1,878$1,570$1,396
17 years$2,922$2,445$2,036$1,687$1,392$1,227
18 years$2,730$2,259$1,858$1,520$1,238$1,081
19 years$2,560$2,094$1,701$1,374$1,104$955
20 years$2,406$1,946$1,561$1,244$986$845
21 years$2,268$1,813$1,436$1,129$882$749
22 years$2,142$1,692$1,324$1,027$791$665
23 years$2,027$1,582$1,222$935$710$591
24 years$1,922$1,483$1,130$853$638$526
25 years$1,825$1,391$1,047$779$574$469
26 years$1,736$1,308$971$712$517$418
27 years$1,654$1,231$902$652$466$373
28 years$1,578$1,160$838$597$421$333
29 years$1,507$1,094$780$548$380$298
30 years$1,441$1,033$727$503$343$266
31 years$1,380$977$677$462$310$238
32 years$1,322$924$632$424$281$213
33 years$1,268$875$590$390$254$191
34 years$1,217$829$551$359$230$171
35 years$1,169$787$515$330$208$153
36 years$1,124$747$482$304$189$137
37 years$1,082$709$451$280$171$123
38 years$1,042$674$423$258$155$110
39 years$1,004$641$396$238$141$99
40 years$968$610$371$220$128$89
41 years$934$580$348$203$116$80
42 years$901$553$326$187$105$72
43 years$871$527$306$173$95$64
44 years$841$502$288$160$87$58
45 years$813$479$270$147$79$52
46 years$787$457$254$136$71$46
47 years$761$436$238$126$65$42
48 years$737$416$224$116$59$37
49 years$714$397$210$107$53$34
50 years$691$380$198$99$49$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $708,000, adding $5,733 every year, while hoping to spend $32,300 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: 57/36/7 Blend
58$708,000$708,000$708,000$708,000
59$786,130$748,606$737,632$829,405
60$831,948$750,920$727,975$861,508
61$881,357$752,266$716,913$892,336
62$934,689$752,561$704,363$925,127
63$992,310$751,718$690,242$960,070
64$1,054,619$749,646$674,459$997,378
65$1,122,059$746,247$656,921$1,037,283
66$1,195,113$741,418$637,532$1,080,043
67$1,274,314$735,047$616,190$1,125,945
68$1,360,250$727,020$592,787$1,175,305
69$1,453,563$717,212$567,214$1,228,473
70$1,554,963$705,492$539,352$1,285,837
71$1,665,230$691,721$509,081$1,347,825
72$1,785,221$675,753$476,273$1,414,911
73$1,915,880$657,432$440,795$1,487,621
74$2,058,247$636,593$402,508$1,566,535
75$2,213,464$613,062$361,268$1,652,293
76$2,382,790$586,654$316,923$1,745,607
77$2,567,608$557,174$269,313$1,847,261
78$2,769,444$524,415$218,275$1,958,122
79$2,989,975$488,160$163,635$2,079,150
80$3,231,049$448,176$105,213$2,211,404
81$3,494,699$404,220$42,821$2,356,057
82$3,783,165$356,034$0$2,514,405
83$4,098,913$303,345$0$2,689,652
84$4,444,658$245,864$0$2,885,134
85$4,823,391$183,289$0$3,099,413
86$5,238,403$115,297$0$3,334,436
87$5,693,322$41,548$0$3,592,353
88$6,192,142$0$0$3,875,536
89$6,739,261$0$0$4,201,785
90$7,339,526$0$0$4,577,846
91$7,998,273$0$0$4,990,610
92$8,721,380$0$0$5,443,770
93$9,515,324$0$0$5,941,392
94$10,387,237$0$0$6,487,955
95$11,344,979$0$0$7,088,396
96$12,397,204$0$0$7,748,149
97$13,553,450$0$0$8,473,204
98$14,824,223$0$0$9,270,159
99$16,221,097$0$0$10,146,283
100$17,756,823$0$0$11,109,584