Can I retire at age 59 with 718,000?

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 $718,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$59,292$58,764$58,248$57,745$57,254$56,445
2 years$29,352$28,806$28,276$27,762$27,264$26,450
3 years$19,374$18,825$18,296$17,788$17,297$16,505
4 years$14,386$13,838$13,315$12,815$12,337$11,571
5 years$11,393$10,849$10,333$9,843$9,378$8,641
6 years$9,399$8,859$8,351$7,872$7,421$6,714
7 years$7,975$7,440$6,939$6,472$6,035$5,359
8 years$6,908$6,377$5,885$5,429$5,007$4,360
9 years$6,078$5,553$5,069$4,624$4,216$3,600
10 years$5,415$4,894$4,419$3,986$3,592$3,005
11 years$4,872$4,357$3,891$3,469$3,090$2,531
12 years$4,421$3,911$3,453$3,043$2,677$2,147
13 years$4,039$3,534$3,085$2,686$2,335$1,832
14 years$3,712$3,213$2,772$2,385$2,047$1,571
15 years$3,429$2,935$2,503$2,127$1,802$1,352
16 years$3,181$2,693$2,269$1,904$1,593$1,168
17 years$2,963$2,480$2,065$1,711$1,412$1,011
18 years$2,769$2,291$1,885$1,542$1,256$878
19 years$2,596$2,124$1,725$1,393$1,119$764
20 years$2,440$1,973$1,583$1,262$1,000$665
21 years$2,300$1,838$1,456$1,145$895$581
22 years$2,172$1,716$1,342$1,041$802$508
23 years$2,056$1,605$1,239$948$720$444
24 years$1,949$1,504$1,146$865$647$389
25 years$1,851$1,411$1,062$790$582$341
26 years$1,761$1,326$985$722$524$299
27 years$1,678$1,248$914$661$473$262
28 years$1,600$1,176$850$606$427$230
29 years$1,528$1,109$791$555$385$203
30 years$1,462$1,048$737$510$348$178
31 years$1,399$990$687$468$315$157
32 years$1,341$937$641$430$285$138
33 years$1,286$888$598$396$258$121
34 years$1,234$841$559$364$233$107
35 years$1,186$798$523$335$211$94
36 years$1,140$757$489$309$191$83
37 years$1,097$719$458$284$173$73
38 years$1,057$684$429$262$157$64
39 years$1,018$650$402$242$143$57
40 years$982$618$376$223$129$50
41 years$947$589$353$206$117$44
42 years$914$561$331$190$106$39
43 years$883$534$311$175$97$34
44 years$853$509$292$162$88$30
45 years$825$486$274$149$80$26
46 years$798$463$257$138$72$23
47 years$772$442$242$128$66$21
48 years$747$422$227$118$60$18
49 years$724$403$213$109$54$16
50 years$701$385$201$101$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $718,000, adding $6,712 every year, while hoping to spend $39,431 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: 61/23/16 Blend
58$718,000$718,000$718,000$718,000
59$798,159$760,105$748,976$843,234
60$837,617$755,396$732,113$869,688
61$879,779$749,135$713,363$893,522
62$924,877$741,203$692,621$918,603
63$973,169$731,477$669,779$945,053
64$1,024,937$719,824$644,721$973,011
65$1,080,489$706,104$617,328$1,002,632
66$1,140,164$690,168$587,473$1,034,087
67$1,204,334$671,859$555,027$1,067,566
68$1,273,407$651,012$519,851$1,103,281
69$1,347,832$627,449$481,804$1,141,468
70$1,428,101$600,984$440,735$1,182,389
71$1,514,756$571,421$396,488$1,226,332
72$1,608,390$538,550$348,899$1,273,622
73$1,709,658$502,151$297,800$1,324,615
74$1,819,278$461,991$243,010$1,379,710
75$1,938,038$417,822$184,345$1,439,347
76$2,066,808$369,385$121,610$1,504,014
77$2,206,541$316,404$54,603$1,574,254
78$2,358,288$258,588$0$1,650,667
79$2,523,204$195,629$0$1,736,805
80$2,702,559$127,203$0$1,840,656
81$2,897,751$52,967$0$1,953,744
82$3,110,317$0$0$2,077,016
83$3,341,951$0$0$2,218,462
84$3,594,514$0$0$2,387,356
85$3,870,057$0$0$2,571,670
86$4,170,836$0$0$2,772,919
87$4,499,334$0$0$2,992,772
88$4,858,286$0$0$3,233,065
89$5,250,701$0$0$3,495,822
90$5,679,894$0$0$3,783,270
91$6,149,514$0$0$4,097,859
92$6,663,579$0$0$4,442,291
93$7,226,513$0$0$4,819,538
94$7,843,189$0$0$5,232,874
95$8,518,972$0$0$5,685,905
96$9,259,771$0$0$6,182,603
97$10,072,097$0$0$6,727,342
98$10,963,116$0$0$7,324,938
99$11,940,724$0$0$7,980,698
100$13,013,618$0$0$8,700,467