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%19.6%
1 years$58,549$58,027$57,518$57,022$56,537$54,358
2 years$28,984$28,445$27,921$27,414$26,922$24,753
3 years$19,131$18,589$18,067$17,565$17,081$14,989
4 years$14,205$13,665$13,148$12,654$12,182$10,185
5 years$11,251$10,713$10,204$9,720$9,261$7,362
6 years$9,281$8,748$8,246$7,773$7,328$5,530
7 years$7,875$7,347$6,852$6,391$5,959$4,261
8 years$6,821$6,298$5,811$5,361$4,944$3,344
9 years$6,002$5,483$5,005$4,566$4,163$2,659
10 years$5,347$4,833$4,364$3,936$3,547$2,136
11 years$4,811$4,303$3,842$3,426$3,051$1,729
12 years$4,365$3,862$3,410$3,005$2,644$1,408
13 years$3,988$3,490$3,046$2,653$2,305$1,152
14 years$3,665$3,172$2,737$2,355$2,021$947
15 years$3,386$2,898$2,471$2,100$1,779$780
16 years$3,141$2,659$2,240$1,880$1,573$645
17 years$2,926$2,449$2,039$1,690$1,394$534
18 years$2,734$2,263$1,861$1,523$1,240$443
19 years$2,563$2,097$1,704$1,376$1,105$368
20 years$2,410$1,949$1,564$1,246$987$306
21 years$2,271$1,815$1,438$1,131$883$254
22 years$2,145$1,694$1,326$1,028$792$212
23 years$2,030$1,585$1,224$936$711$177
24 years$1,925$1,485$1,132$854$639$147
25 years$1,828$1,393$1,048$780$575$123
26 years$1,739$1,310$972$713$518$102
27 years$1,657$1,232$903$653$467$86
28 years$1,580$1,161$839$598$421$71
29 years$1,509$1,096$781$548$380$60
30 years$1,443$1,035$728$503$344$50
31 years$1,382$978$678$462$311$42
32 years$1,324$925$633$425$281$35
33 years$1,270$876$591$391$254$29
34 years$1,219$831$552$359$230$24
35 years$1,171$788$516$331$209$20
36 years$1,126$748$483$305$189$17
37 years$1,084$710$452$281$171$14
38 years$1,043$675$423$259$155$12
39 years$1,005$642$397$239$141$10
40 years$969$611$372$220$128$8
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$3
46 years$788$457$254$136$71$3
47 years$762$436$239$126$65$2
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 $6,511 every year, while hoping to spend $54,934 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: 72/20/8 Blend
58$709,000$709,000$709,000$709,000
59$788,034$750,457$739,468$843,266
60$809,964$728,780$705,790$858,933
61$832,290$704,200$669,144$868,618
62$854,994$676,516$629,371$877,699
63$878,055$645,517$586,306$886,101
64$901,447$610,978$539,778$893,741
65$925,141$572,662$489,607$900,533
66$949,102$530,319$435,605$906,381
67$973,289$483,683$377,576$911,181
68$997,655$432,475$315,316$914,819
69$1,022,148$376,397$248,611$917,175
70$1,046,704$315,138$177,237$918,115
71$1,071,255$248,367$100,961$917,495
72$1,095,720$175,734$19,540$915,159
73$1,120,009$96,871$0$910,937
74$1,144,021$11,388$0$910,393
75$1,167,639$0$0$909,733
76$1,190,734$0$0$924,946
77$1,213,162$0$0$942,116
78$1,234,757$0$0$958,606
79$1,255,338$0$0$974,271
80$1,274,698$0$0$988,947
81$1,292,610$0$0$1,002,452
82$1,308,818$0$0$1,014,582
83$1,323,036$0$0$1,025,111
84$1,334,947$0$0$1,033,786
85$1,344,198$0$0$1,040,325
86$1,350,394$0$0$1,044,415
87$1,353,098$0$0$1,045,709
88$1,351,825$0$0$1,043,820
89$1,346,034$0$0$1,038,319
90$1,335,127$0$0$1,028,730
91$1,318,438$0$0$1,014,525
92$1,295,232$0$0$995,117
93$1,264,692$0$0$969,859
94$1,225,913$0$0$938,032
95$1,177,894$0$0$898,840
96$1,119,525$0$0$851,402
97$1,049,580$0$0$794,743
98$966,699$0$0$727,784
99$869,382$0$0$649,333
100$755,967$0$0$558,070