Can I retire at age 59 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$59,457$58,927$58,411$57,906$57,414$55,980
2 years$29,434$28,886$28,355$27,840$27,340$25,905
3 years$19,428$18,877$18,347$17,837$17,346$15,954
4 years$14,426$13,877$13,352$12,851$12,371$11,033
5 years$11,425$10,880$10,362$9,870$9,404$8,124
6 years$9,425$8,884$8,374$7,894$7,441$6,220
7 years$7,998$7,461$6,959$6,490$6,052$4,889
8 years$6,927$6,395$5,902$5,444$5,020$3,917
9 years$6,095$5,568$5,083$4,637$4,228$3,182
10 years$5,430$4,908$4,431$3,997$3,602$2,613
11 years$4,886$4,369$3,901$3,479$3,098$2,163
12 years$4,433$3,922$3,462$3,051$2,685$1,803
13 years$4,050$3,544$3,093$2,694$2,341$1,511
14 years$3,722$3,221$2,779$2,391$2,052$1,272
15 years$3,438$2,943$2,509$2,133$1,807$1,075
16 years$3,190$2,700$2,275$1,910$1,597$911
17 years$2,971$2,487$2,070$1,716$1,416$774
18 years$2,777$2,298$1,890$1,546$1,259$658
19 years$2,603$2,130$1,730$1,397$1,122$561
20 years$2,447$1,979$1,588$1,265$1,002$479
21 years$2,306$1,843$1,461$1,148$897$410
22 years$2,178$1,721$1,346$1,044$804$351
23 years$2,061$1,609$1,243$951$722$301
24 years$1,954$1,508$1,149$867$649$258
25 years$1,856$1,415$1,065$792$584$221
26 years$1,766$1,330$987$724$526$190
27 years$1,682$1,252$917$663$474$163
28 years$1,605$1,179$852$607$428$140
29 years$1,533$1,113$793$557$386$120
30 years$1,466$1,051$739$511$349$103
31 years$1,403$993$689$469$316$89
32 years$1,344$940$643$431$285$77
33 years$1,289$890$600$397$258$66
34 years$1,238$844$561$365$234$57
35 years$1,189$800$524$336$212$49
36 years$1,144$759$490$309$192$42
37 years$1,100$721$459$285$174$36
38 years$1,060$685$430$263$158$31
39 years$1,021$652$403$242$143$27
40 years$984$620$377$224$130$23
41 years$950$590$354$206$118$20
42 years$917$562$332$190$107$17
43 years$885$536$312$176$97$15
44 years$855$511$292$162$88$13
45 years$827$487$275$150$80$11
46 years$800$464$258$138$73$9
47 years$774$443$242$128$66$8
48 years$749$423$228$118$60$7
49 years$726$404$214$109$54$6
50 years$703$386$201$101$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $720,000, adding $6,432 every year, while hoping to spend $41,661 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: 72/6/22 Blend
58$720,000$720,000$720,000$720,000
59$800,075$761,915$750,755$852,910
60$837,355$754,921$731,578$881,957
61$877,042$746,189$710,362$908,190
62$919,337$735,589$686,996$935,889
63$964,460$722,984$661,361$965,194
64$1,012,653$708,228$633,335$996,260
65$1,064,182$691,169$602,789$1,029,258
66$1,119,335$671,643$569,590$1,064,378
67$1,178,433$649,479$533,597$1,101,830
68$1,241,823$624,494$494,662$1,141,847
69$1,309,890$596,495$452,634$1,184,686
70$1,383,054$565,278$407,353$1,230,631
71$1,461,776$530,628$358,650$1,279,997
72$1,546,564$492,316$306,352$1,333,134
73$1,637,975$450,100$250,276$1,390,425
74$1,736,620$403,727$190,231$1,452,298
75$1,843,171$352,925$126,020$1,519,223
76$1,958,367$297,411$57,434$1,591,722
77$2,083,020$236,883$0$1,670,371
78$2,218,021$171,024$0$1,759,505
79$2,364,352$99,497$0$1,870,758
80$2,523,092$21,949$0$1,991,466
81$2,695,428$0$0$2,122,547
82$2,882,663$0$0$2,269,105
83$3,086,234$0$0$2,430,056
84$3,307,719$0$0$2,605,203
85$3,548,857$0$0$2,795,924
86$3,811,559$0$0$3,003,736
87$4,097,929$0$0$3,230,307
88$4,410,283$0$0$3,477,475
89$4,751,170$0$0$3,747,261
90$5,123,395$0$0$4,041,890
91$5,530,046$0$0$4,363,812
92$5,974,524$0$0$4,715,724
93$6,460,571$0$0$5,100,596
94$6,992,310$0$0$5,521,696
95$7,574,278$0$0$5,982,625
96$8,211,473$0$0$6,487,346
97$8,909,396$0$0$7,040,226
98$9,674,110$0$0$7,646,071
99$10,512,286$0$0$8,310,177
100$11,431,276$0$0$9,038,374