Can I retire at age 59 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$58,879$58,354$57,843$57,343$56,856$56,309
2 years$29,148$28,605$28,079$27,569$27,074$26,523
3 years$19,239$18,694$18,169$17,664$17,177$16,639
4 years$14,285$13,742$13,222$12,726$12,251$11,730
5 years$11,314$10,774$10,261$9,775$9,313$8,811
6 years$9,334$8,798$8,292$7,817$7,369$6,886
7 years$7,920$7,388$6,891$6,427$5,993$5,530
8 years$6,860$6,333$5,844$5,391$4,972$4,528
9 years$6,036$5,514$5,034$4,592$4,187$3,763
10 years$5,377$4,860$4,388$3,958$3,567$3,162
11 years$4,839$4,327$3,863$3,445$3,068$2,682
12 years$4,390$3,884$3,429$3,022$2,659$2,291
13 years$4,011$3,510$3,063$2,668$2,318$1,969
14 years$3,686$3,190$2,752$2,368$2,032$1,700
15 years$3,405$2,914$2,485$2,112$1,789$1,474
16 years$3,159$2,674$2,253$1,891$1,582$1,283
17 years$2,942$2,462$2,050$1,699$1,402$1,120
18 years$2,750$2,275$1,872$1,531$1,247$980
19 years$2,578$2,109$1,713$1,384$1,111$859
20 years$2,423$1,960$1,572$1,253$993$755
21 years$2,284$1,825$1,446$1,137$888$664
22 years$2,157$1,704$1,333$1,034$796$585
23 years$2,041$1,594$1,231$942$715$516
24 years$1,935$1,493$1,138$859$642$456
25 years$1,838$1,401$1,054$784$578$403
26 years$1,749$1,317$978$717$521$357
27 years$1,666$1,239$908$656$469$316
28 years$1,589$1,168$844$601$424$280
29 years$1,518$1,102$785$552$383$248
30 years$1,451$1,040$732$506$346$220
31 years$1,389$984$682$465$312$195
32 years$1,331$931$636$427$283$173
33 years$1,277$881$594$393$256$154
34 years$1,226$835$555$361$232$137
35 years$1,178$792$519$333$210$122
36 years$1,132$752$486$306$190$108
37 years$1,090$714$454$282$172$96
38 years$1,049$679$426$260$156$85
39 years$1,011$645$399$240$142$76
40 years$975$614$374$221$128$68
41 years$940$585$350$204$117$60
42 years$908$557$329$188$106$53
43 years$877$530$308$174$96$48
44 years$847$506$290$161$87$42
45 years$819$482$272$148$79$38
46 years$792$460$255$137$72$34
47 years$766$439$240$127$65$30
48 years$742$419$225$117$59$27
49 years$719$400$212$108$54$24
50 years$696$382$199$100$49$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $713,000, adding $4,988 every year, while hoping to spend $33,447 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: 72/23/5 Blend
58$713,000$713,000$713,000$713,000
59$790,871$753,082$742,031$847,105
60$835,953$754,396$731,301$886,156
61$884,511$754,653$719,092$924,212
62$936,867$753,766$705,316$964,927
63$993,370$751,643$689,887$1,008,552
64$1,054,406$748,186$672,711$1,055,365
65$1,120,399$743,290$653,690$1,105,672
66$1,191,814$736,846$632,722$1,159,810
67$1,269,162$728,735$609,703$1,218,152
68$1,353,008$718,834$584,519$1,281,109
69$1,443,969$707,012$557,055$1,349,134
70$1,542,727$693,128$527,188$1,422,727
71$1,650,029$677,035$494,793$1,502,440
72$1,766,699$658,577$459,736$1,588,881
73$1,893,643$637,588$421,878$1,682,724
74$2,031,857$613,892$381,073$1,784,708
75$2,182,439$587,306$337,172$1,895,652
76$2,346,595$557,631$290,015$2,016,458
77$2,525,654$524,661$239,436$2,148,122
78$2,721,078$488,177$185,264$2,291,741
79$2,934,476$447,945$127,319$2,448,527
80$3,167,620$403,722$65,411$2,619,818
81$3,422,459$355,247$0$2,807,089
82$3,701,143$302,246$0$3,012,001
83$4,006,034$244,431$0$3,240,042
84$4,339,736$181,495$0$3,489,710
85$4,705,117$113,116$0$3,763,201
86$5,105,332$38,951$0$4,062,939
87$5,543,858$0$0$4,391,594
88$6,024,524$0$0$4,762,581
89$6,551,547$0$0$5,180,190
90$7,129,570$0$0$5,638,247
91$7,763,709$0$0$6,140,812
92$8,459,599$0$0$6,692,352
93$9,223,445$0$0$7,297,794
94$10,062,084$0$0$7,962,559
95$10,983,046$0$0$8,692,622
96$11,994,627$0$0$9,494,566
97$13,105,965$0$0$10,375,639
98$14,327,129$0$0$11,343,829
99$15,669,208$0$0$12,407,937
100$17,144,422$0$0$13,577,654