Can I retire at age 59 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$58,714$58,191$57,680$57,182$56,696$54,991
2 years$29,066$28,525$28,000$27,492$26,998$25,295
3 years$19,185$18,641$18,118$17,614$17,129$15,481
4 years$14,245$13,703$13,185$12,690$12,216$10,636
5 years$11,282$10,744$10,232$9,747$9,287$7,778
6 years$9,308$8,773$8,269$7,795$7,348$5,913
7 years$7,898$7,368$6,872$6,409$5,976$4,614
8 years$6,841$6,315$5,828$5,376$4,958$3,668
9 years$6,019$5,499$5,019$4,579$4,175$2,956
10 years$5,362$4,847$4,376$3,947$3,557$2,408
11 years$4,825$4,315$3,853$3,435$3,060$1,977
12 years$4,378$3,873$3,419$3,013$2,651$1,634
13 years$3,999$3,500$3,055$2,660$2,312$1,358
14 years$3,676$3,181$2,745$2,361$2,027$1,133
15 years$3,395$2,906$2,478$2,106$1,784$948
16 years$3,150$2,666$2,247$1,886$1,577$796
17 years$2,934$2,456$2,044$1,694$1,398$670
18 years$2,742$2,269$1,866$1,527$1,243$565
19 years$2,571$2,103$1,709$1,380$1,108$477
20 years$2,416$1,954$1,568$1,250$990$403
21 years$2,277$1,820$1,442$1,134$886$341
22 years$2,151$1,699$1,329$1,031$794$289
23 years$2,035$1,589$1,227$939$713$245
24 years$1,930$1,489$1,135$856$641$208
25 years$1,833$1,397$1,051$782$576$177
26 years$1,744$1,313$975$715$519$150
27 years$1,661$1,236$905$655$468$128
28 years$1,585$1,165$842$600$422$108
29 years$1,514$1,099$783$550$381$92
30 years$1,447$1,038$730$505$345$78
31 years$1,385$981$680$464$312$67
32 years$1,328$928$635$426$282$57
33 years$1,273$879$593$392$255$48
34 years$1,222$833$554$360$231$41
35 years$1,174$790$518$332$209$35
36 years$1,129$750$484$306$190$30
37 years$1,087$712$453$282$172$25
38 years$1,046$677$424$260$156$22
39 years$1,008$644$398$239$141$18
40 years$972$612$373$221$128$16
41 years$938$583$349$204$116$13
42 years$905$555$328$188$105$11
43 years$874$529$308$173$96$10
44 years$845$504$289$160$87$8
45 years$817$481$271$148$79$7
46 years$790$459$255$137$72$6
47 years$764$438$239$126$65$5
48 years$740$418$225$117$59$4
49 years$717$399$211$108$54$4
50 years$694$381$199$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $711,000, adding $3,265 every year, while hoping to spend $55,589 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: 37/35/28 Blend
58$711,000$711,000$711,000$711,000
59$786,890$749,207$738,186$809,318
60$808,006$726,772$703,769$803,749
61$829,414$701,374$666,336$792,440
62$851,083$672,810$625,727$779,160
63$872,980$640,865$581,776$763,768
64$895,065$605,309$534,307$746,114
65$917,294$565,901$483,139$726,038
66$939,615$522,387$428,081$703,370
67$961,969$474,497$368,934$677,930
68$984,288$421,945$305,491$649,526
69$1,006,495$364,431$237,536$617,952
70$1,028,505$301,635$164,840$582,993
71$1,050,219$233,222$87,169$544,415
72$1,071,527$158,836$4,275$501,973
73$1,092,306$78,102$0$455,404
74$1,112,416$0$0$429,580
75$1,131,700$0$0$405,660
76$1,149,986$0$0$411,358
77$1,167,076$0$0$416,514
78$1,182,752$0$0$421,037
79$1,196,772$0$0$424,825
80$1,208,863$0$0$427,765
81$1,218,723$0$0$429,734
82$1,226,016$0$0$430,591
83$1,230,366$0$0$430,182
84$1,231,358$0$0$428,334
85$1,228,529$0$0$424,858
86$1,221,366$0$0$419,541
87$1,209,299$0$0$412,150
88$1,191,697$0$0$402,423
89$1,167,860$0$0$390,075
90$1,137,012$0$0$374,784
91$1,098,293$0$0$356,199
92$1,050,752$0$0$333,929
93$993,336$0$0$307,541
94$924,878$0$0$276,557
95$844,090$0$0$240,449
96$749,545$0$0$198,632
97$639,666$0$0$150,460
98$512,709$0$0$95,218
99$366,749$0$0$32,119
100$199,656$0$0$0