Can I retire at age 59 with 709,000?

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 $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%19.4%
1 years$58,549$58,027$57,518$57,022$56,537$54,401
2 years$28,984$28,445$27,921$27,414$26,922$24,795
3 years$19,131$18,589$18,067$17,565$17,081$15,029
4 years$14,205$13,665$13,148$12,654$12,182$10,222
5 years$11,251$10,713$10,204$9,720$9,261$7,397
6 years$9,281$8,748$8,246$7,773$7,328$5,562
7 years$7,875$7,347$6,852$6,391$5,959$4,291
8 years$6,821$6,298$5,811$5,361$4,944$3,371
9 years$6,002$5,483$5,005$4,566$4,163$2,684
10 years$5,347$4,833$4,364$3,936$3,547$2,159
11 years$4,811$4,303$3,842$3,426$3,051$1,750
12 years$4,365$3,862$3,410$3,005$2,644$1,427
13 years$3,988$3,490$3,046$2,653$2,305$1,169
14 years$3,665$3,172$2,737$2,355$2,021$962
15 years$3,386$2,898$2,471$2,100$1,779$794
16 years$3,141$2,659$2,240$1,880$1,573$657
17 years$2,926$2,449$2,039$1,690$1,394$545
18 years$2,734$2,263$1,861$1,523$1,240$452
19 years$2,563$2,097$1,704$1,376$1,105$376
20 years$2,410$1,949$1,564$1,246$987$313
21 years$2,271$1,815$1,438$1,131$883$261
22 years$2,145$1,694$1,326$1,028$792$218
23 years$2,030$1,585$1,224$936$711$182
24 years$1,925$1,485$1,132$854$639$152
25 years$1,828$1,393$1,048$780$575$127
26 years$1,739$1,310$972$713$518$106
27 years$1,657$1,232$903$653$467$89
28 years$1,580$1,161$839$598$421$74
29 years$1,509$1,096$781$548$380$62
30 years$1,443$1,035$728$503$344$52
31 years$1,382$978$678$462$311$43
32 years$1,324$925$633$425$281$36
33 years$1,270$876$591$391$254$30
34 years$1,219$831$552$359$230$25
35 years$1,171$788$516$331$209$21
36 years$1,126$748$483$305$189$18
37 years$1,084$710$452$281$171$15
38 years$1,043$675$423$259$155$13
39 years$1,005$642$397$239$141$10
40 years$969$611$372$220$128$9
41 years$935$581$348$203$116$7
42 years$903$554$327$187$105$6
43 years$872$527$307$173$95$5
44 years$842$503$288$160$87$4
45 years$814$479$270$148$79$4
46 years$788$457$254$136$71$3
47 years$762$436$239$126$65$3
48 years$738$417$224$116$59$2
49 years$715$398$211$108$53$2
50 years$692$380$198$99$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $709,000, adding $5,231 every year, while hoping to spend $40,373 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: 71/18/11 Blend
58$709,000$709,000$709,000$709,000
59$786,714$749,137$738,147$840,451
60$824,002$742,888$719,919$870,480
61$863,741$734,980$699,726$897,898
62$906,137$725,288$677,462$926,827
63$951,417$713,682$653,011$957,407
64$999,832$700,022$626,257$989,793
65$1,051,652$684,161$597,075$1,024,156
66$1,107,179$665,943$565,334$1,060,686
67$1,166,739$645,202$530,901$1,099,595
68$1,230,693$621,764$493,633$1,141,114
69$1,299,436$595,443$453,382$1,185,502
70$1,373,403$566,043$409,994$1,233,043
71$1,453,068$533,358$363,307$1,284,052
72$1,538,956$497,168$313,154$1,338,879
73$1,631,642$457,241$259,356$1,397,910
74$1,731,756$413,333$201,732$1,461,572
75$1,839,994$365,184$140,088$1,530,337
76$1,957,117$312,522$74,224$1,604,728
77$2,083,963$255,056$3,932$1,685,322
78$2,221,456$192,483$0$1,772,759
79$2,370,608$124,478$0$1,876,088
80$2,532,535$50,702$0$1,988,782
81$2,708,462$0$0$2,111,270
82$2,899,738$0$0$2,250,321
83$3,107,847$0$0$2,412,567
84$3,334,422$0$0$2,589,243
85$3,581,259$0$0$2,781,754
86$3,850,335$0$0$2,991,645
87$4,143,826$0$0$3,220,619
88$4,464,128$0$0$3,470,549
89$4,813,875$0$0$3,743,497
90$5,195,971$0$0$4,041,733
91$5,613,609$0$0$4,367,755
92$6,070,308$0$0$4,724,315
93$6,569,939$0$0$5,114,442
94$7,116,767$0$0$5,541,472
95$7,715,487$0$0$6,009,077
96$8,371,270$0$0$6,521,304
97$9,089,811$0$0$7,082,605
98$9,877,379$0$0$7,697,887
99$10,740,883$0$0$8,372,553
100$11,687,928$0$0$9,112,553