Can I retire at age 59 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$58,961$58,436$57,924$57,424$56,935$56,482
2 years$29,189$28,645$28,118$27,608$27,112$26,655
3 years$19,266$18,720$18,194$17,688$17,201$16,754
4 years$14,305$13,761$13,241$12,744$12,268$11,835
5 years$11,330$10,789$10,275$9,788$9,326$8,908
6 years$9,347$8,810$8,304$7,828$7,379$6,978
7 years$7,931$7,399$6,901$6,436$6,001$5,616
8 years$6,870$6,342$5,852$5,399$4,979$4,609
9 years$6,044$5,522$5,041$4,598$4,193$3,839
10 years$5,385$4,867$4,395$3,964$3,572$3,234
11 years$4,845$4,333$3,869$3,450$3,072$2,750
12 years$4,396$3,889$3,434$3,026$2,662$2,355
13 years$4,016$3,515$3,068$2,671$2,322$2,029
14 years$3,691$3,195$2,756$2,371$2,035$1,757
15 years$3,409$2,918$2,489$2,115$1,792$1,527
16 years$3,163$2,678$2,256$1,894$1,584$1,333
17 years$2,946$2,466$2,053$1,701$1,404$1,166
18 years$2,754$2,279$1,874$1,533$1,249$1,023
19 years$2,581$2,112$1,716$1,385$1,113$900
20 years$2,427$1,962$1,575$1,255$994$793
21 years$2,287$1,828$1,448$1,139$890$700
22 years$2,160$1,706$1,335$1,035$797$619
23 years$2,044$1,596$1,233$943$716$547
24 years$1,938$1,495$1,140$860$643$485
25 years$1,841$1,403$1,056$785$579$430
26 years$1,751$1,319$979$718$521$382
27 years$1,668$1,241$909$657$470$339
28 years$1,591$1,169$845$602$424$301
29 years$1,520$1,103$787$552$383$268
30 years$1,453$1,042$733$507$346$239
31 years$1,391$985$683$466$313$212
32 years$1,333$932$637$428$283$189
33 years$1,279$883$595$393$256$169
34 years$1,227$837$556$362$232$150
35 years$1,179$793$520$333$210$134
36 years$1,134$753$486$307$190$119
37 years$1,091$715$455$283$173$107
38 years$1,051$680$426$261$156$95
39 years$1,012$646$399$240$142$85
40 years$976$615$374$222$129$76
41 years$942$585$351$205$117$68
42 years$909$557$329$189$106$60
43 years$878$531$309$174$96$54
44 years$848$506$290$161$87$48
45 years$820$483$272$149$79$43
46 years$793$461$256$137$72$38
47 years$768$440$240$127$65$34
48 years$743$420$226$117$59$31
49 years$720$401$212$108$54$27
50 years$697$383$200$100$49$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $714,000, adding $6,728 every year, while hoping to spend $35,960 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: 41/42/17 Blend
58$714,000$714,000$714,000$714,000
59$793,768$755,926$744,859$822,081
60$836,471$754,705$731,551$841,578
61$882,325$752,219$716,591$858,654
62$931,612$748,368$699,887$876,376
63$984,645$743,047$681,342$894,821
64$1,041,764$736,141$660,852$914,077
65$1,103,345$727,533$638,311$934,240
66$1,169,799$717,096$613,608$955,423
67$1,241,581$704,695$586,626$977,750
68$1,319,186$690,190$557,242$1,001,362
69$1,403,163$673,429$525,330$1,026,418
70$1,494,112$654,253$490,755$1,053,096
71$1,592,695$632,494$453,378$1,081,597
72$1,699,637$607,974$413,054$1,112,143
73$1,815,739$580,504$369,630$1,144,987
74$1,941,880$549,884$322,948$1,180,411
75$2,079,027$515,903$272,842$1,218,728
76$2,228,243$478,338$219,138$1,260,292
77$2,390,700$436,953$161,655$1,305,495
78$2,567,686$391,498$100,204$1,354,777
79$2,760,617$341,709$34,589$1,408,626
80$2,971,056$287,308$0$1,467,590
81$3,200,717$228,001$0$1,538,704
82$3,451,493$163,475$0$1,623,332
83$3,725,464$93,404$0$1,715,989
84$4,024,919$17,439$0$1,817,556
85$4,352,383$0$0$1,929,011
86$4,710,630$0$0$2,081,380
87$5,102,719$0$0$2,257,054
88$5,532,017$0$0$2,449,493
89$6,002,232$0$0$2,660,371
90$6,517,445$0$0$2,891,531
91$7,082,154$0$0$3,145,003
92$7,701,312$0$0$3,423,022
93$8,380,372$0$0$3,728,053
94$9,125,342$0$0$4,062,807
95$9,942,840$0$0$4,430,272
96$10,840,153$0$0$4,833,740
97$11,825,312$0$0$5,276,837
98$12,907,160$0$0$5,763,556
99$14,095,440$0$0$6,298,298
100$15,400,885$0$0$6,885,909