Can I retire at age 59 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$58,631$58,109$57,599$57,102$56,616$55,248
2 years$29,025$28,485$27,961$27,453$26,960$25,589
3 years$19,158$18,615$18,093$17,589$17,105$15,775
4 years$14,225$13,684$13,167$12,672$12,199$10,920
5 years$11,266$10,728$10,218$9,733$9,274$8,049
6 years$9,295$8,761$8,258$7,784$7,338$6,170
7 years$7,887$7,357$6,862$6,400$5,968$4,855
8 years$6,831$6,306$5,820$5,368$4,951$3,894
9 years$6,011$5,491$5,012$4,573$4,169$3,167
10 years$5,355$4,840$4,370$3,942$3,552$2,604
11 years$4,818$4,309$3,847$3,430$3,055$2,159
12 years$4,372$3,867$3,414$3,009$2,648$1,802
13 years$3,994$3,495$3,050$2,656$2,309$1,512
14 years$3,670$3,177$2,741$2,358$2,024$1,275
15 years$3,390$2,902$2,475$2,103$1,782$1,078
16 years$3,146$2,663$2,244$1,883$1,575$915
17 years$2,930$2,452$2,042$1,692$1,396$778
18 years$2,738$2,266$1,864$1,525$1,242$663
19 years$2,567$2,100$1,706$1,378$1,107$567
20 years$2,413$1,951$1,566$1,248$989$485
21 years$2,274$1,818$1,440$1,132$885$415
22 years$2,148$1,697$1,327$1,030$793$356
23 years$2,033$1,587$1,226$938$712$305
24 years$1,927$1,487$1,133$855$640$262
25 years$1,830$1,395$1,050$781$576$225
26 years$1,741$1,311$974$714$519$194
27 years$1,659$1,234$904$654$468$167
28 years$1,582$1,163$841$599$422$143
29 years$1,511$1,097$782$549$381$123
30 years$1,445$1,036$729$504$344$106
31 years$1,383$979$679$463$311$92
32 years$1,326$927$634$425$281$79
33 years$1,272$878$592$391$255$68
34 years$1,221$832$553$360$231$59
35 years$1,173$789$517$331$209$50
36 years$1,128$749$484$305$189$44
37 years$1,085$711$453$281$172$38
38 years$1,045$676$424$259$156$32
39 years$1,007$643$397$239$141$28
40 years$971$612$372$220$128$24
41 years$936$582$349$203$116$21
42 years$904$554$327$188$105$18
43 years$873$528$307$173$96$15
44 years$844$503$288$160$87$13
45 years$816$480$271$148$79$11
46 years$789$458$254$136$72$10
47 years$763$437$239$126$65$9
48 years$739$417$225$117$59$7
49 years$716$398$211$108$54$6
50 years$693$381$198$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $710,000, adding $2,559 every year, while hoping to spend $49,231 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: 64/7/29 Blend
58$710,000$710,000$710,000$710,000
59$785,060$747,430$736,425$829,081
60$812,754$731,672$708,713$843,466
61$841,624$713,493$678,424$853,543
62$871,736$692,721$645,418$863,497
63$903,164$669,175$609,550$873,321
64$935,987$642,664$570,670$883,013
65$970,290$612,987$528,620$892,570
66$1,006,165$579,929$483,234$901,993
67$1,043,711$543,263$434,340$911,283
68$1,083,038$502,751$381,758$920,445
69$1,124,261$458,139$325,300$929,488
70$1,167,507$409,160$264,770$938,421
71$1,212,915$355,530$199,961$947,261
72$1,260,633$296,952$130,661$956,026
73$1,310,824$233,110$56,645$964,741
74$1,363,666$163,670$0$973,437
75$1,419,351$88,280$0$989,064
76$1,478,087$6,569$0$1,023,909
77$1,540,105$0$0$1,060,556
78$1,605,653$0$0$1,105,456
79$1,675,004$0$0$1,153,517
80$1,748,454$0$0$1,204,443
81$1,826,327$0$0$1,258,462
82$1,908,979$0$0$1,315,822
83$1,996,797$0$0$1,376,796
84$2,090,205$0$0$1,441,682
85$2,189,667$0$0$1,510,807
86$2,295,692$0$0$1,584,529
87$2,408,835$0$0$1,663,237
88$2,529,708$0$0$1,747,363
89$2,658,977$0$0$1,837,375
90$2,797,375$0$0$1,933,789
91$2,945,707$0$0$2,037,171
92$3,104,852$0$0$2,148,141
93$3,275,779$0$0$2,267,381
94$3,459,549$0$0$2,395,637
95$3,657,327$0$0$2,533,730
96$3,870,393$0$0$2,682,561
97$4,100,153$0$0$2,843,121
98$4,348,149$0$0$3,016,496
99$4,616,080$0$0$3,203,881
100$4,905,808$0$0$3,406,591