Can I retire at age 59 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$58,549$58,027$57,518$57,022$56,537$54,903
2 years$28,984$28,445$27,921$27,414$26,922$25,289
3 years$19,131$18,589$18,067$17,565$17,081$15,499
4 years$14,205$13,665$13,148$12,654$12,182$10,665
5 years$11,251$10,713$10,204$9,720$9,261$7,812
6 years$9,281$8,748$8,246$7,773$7,328$5,948
7 years$7,875$7,347$6,852$6,391$5,959$4,649
8 years$6,821$6,298$5,811$5,361$4,944$3,703
9 years$6,002$5,483$5,005$4,566$4,163$2,990
10 years$5,347$4,833$4,364$3,936$3,547$2,440
11 years$4,811$4,303$3,842$3,426$3,051$2,007
12 years$4,365$3,862$3,410$3,005$2,644$1,662
13 years$3,988$3,490$3,046$2,653$2,305$1,384
14 years$3,665$3,172$2,737$2,355$2,021$1,157
15 years$3,386$2,898$2,471$2,100$1,779$970
16 years$3,141$2,659$2,240$1,880$1,573$816
17 years$2,926$2,449$2,039$1,690$1,394$688
18 years$2,734$2,263$1,861$1,523$1,240$582
19 years$2,563$2,097$1,704$1,376$1,105$492
20 years$2,410$1,949$1,564$1,246$987$417
21 years$2,271$1,815$1,438$1,131$883$354
22 years$2,145$1,694$1,326$1,028$792$301
23 years$2,030$1,585$1,224$936$711$256
24 years$1,925$1,485$1,132$854$639$217
25 years$1,828$1,393$1,048$780$575$185
26 years$1,739$1,310$972$713$518$158
27 years$1,657$1,232$903$653$467$134
28 years$1,580$1,161$839$598$421$114
29 years$1,509$1,096$781$548$380$97
30 years$1,443$1,035$728$503$344$83
31 years$1,382$978$678$462$311$71
32 years$1,324$925$633$425$281$60
33 years$1,270$876$591$391$254$52
34 years$1,219$831$552$359$230$44
35 years$1,171$788$516$331$209$38
36 years$1,126$748$483$305$189$32
37 years$1,084$710$452$281$171$27
38 years$1,043$675$423$259$155$23
39 years$1,005$642$397$239$141$20
40 years$969$611$372$220$128$17
41 years$935$581$348$203$116$15
42 years$903$554$327$187$105$12
43 years$872$527$307$173$95$11
44 years$842$503$288$160$87$9
45 years$814$479$270$148$79$8
46 years$788$457$254$136$71$7
47 years$762$436$239$126$65$6
48 years$738$417$224$116$59$5
49 years$715$398$211$108$53$4
50 years$692$380$198$99$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $709,000, adding $3,813 every year, while hoping to spend $56,077 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: 68/10/22 Blend
58$709,000$709,000$709,000$709,000
59$785,251$747,674$736,685$834,046
60$805,681$724,645$701,698$844,176
61$826,316$698,607$663,660$848,412
62$847,116$669,355$622,409$851,710
63$868,039$636,670$577,776$853,975
64$889,033$600,321$529,586$855,105
65$910,040$560,063$477,653$854,990
66$930,996$515,638$421,786$853,510
67$951,825$466,772$361,783$850,534
68$972,444$413,176$297,436$845,923
69$992,757$354,545$228,523$839,522
70$1,012,657$290,557$154,818$831,167
71$1,032,024$220,871$76,081$820,676
72$1,050,723$145,126$0$807,856
73$1,068,603$62,943$0$794,357
74$1,085,494$0$0$797,266
75$1,101,206$0$0$801,387
76$1,115,528$0$0$811,369
77$1,128,223$0$0$820,109
78$1,139,030$0$0$827,408
79$1,147,654$0$0$833,048
80$1,153,769$0$0$836,781
81$1,157,014$0$0$838,337
82$1,156,985$0$0$837,411
83$1,153,234$0$0$833,669
84$1,145,265$0$0$826,736
85$1,132,527$0$0$816,199
86$1,114,409$0$0$801,599
87$1,090,233$0$0$782,428
88$1,059,250$0$0$758,121
89$1,020,627$0$0$728,056
90$973,444$0$0$691,541
91$916,683$0$0$647,813
92$849,217$0$0$596,024
93$769,799$0$0$535,241
94$677,050$0$0$464,428
95$569,446$0$0$382,441
96$445,301$0$0$288,017
97$302,754$0$0$179,759
98$139,745$0$0$56,123
99$0$0$0$0
100$0$0$0$0