Can I retire at age 59 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$59,705$59,173$58,654$58,148$57,653$56,558
2 years$29,557$29,006$28,473$27,956$27,454$26,355
3 years$19,509$18,956$18,424$17,911$17,418$16,350
4 years$14,486$13,935$13,408$12,904$12,423$11,393
5 years$11,473$10,925$10,405$9,912$9,443$8,455
6 years$9,465$8,921$8,409$7,926$7,472$6,527
7 years$8,031$7,492$6,988$6,517$6,077$5,174
8 years$6,956$6,422$5,926$5,467$5,041$4,181
9 years$6,121$5,591$5,104$4,656$4,246$3,427
10 years$5,453$4,929$4,450$4,014$3,617$2,841
11 years$4,906$4,388$3,918$3,493$3,111$2,375
12 years$4,452$3,938$3,477$3,064$2,696$1,999
13 years$4,067$3,559$3,106$2,705$2,351$1,692
14 years$3,738$3,235$2,791$2,401$2,061$1,439
15 years$3,452$2,955$2,520$2,142$1,815$1,228
16 years$3,203$2,711$2,285$1,918$1,604$1,052
17 years$2,983$2,497$2,079$1,723$1,422$903
18 years$2,788$2,307$1,898$1,553$1,264$777
19 years$2,614$2,138$1,737$1,403$1,127$670
20 years$2,457$1,987$1,594$1,271$1,007$579
21 years$2,316$1,851$1,467$1,153$901$501
22 years$2,187$1,728$1,352$1,049$807$434
23 years$2,070$1,616$1,248$955$725$376
24 years$1,963$1,514$1,154$871$651$326
25 years$1,864$1,421$1,069$795$586$283
26 years$1,773$1,335$992$727$528$246
27 years$1,689$1,257$921$666$476$214
28 years$1,611$1,184$856$610$430$186
29 years$1,539$1,117$796$559$388$162
30 years$1,472$1,055$742$513$350$141
31 years$1,409$997$692$471$317$123
32 years$1,350$944$645$433$287$107
33 years$1,295$894$603$398$259$93
34 years$1,243$847$563$367$235$81
35 years$1,194$803$526$337$213$71
36 years$1,148$763$492$311$193$62
37 years$1,105$724$461$286$175$54
38 years$1,064$688$432$264$158$47
39 years$1,025$655$404$243$144$41
40 years$988$623$379$224$130$36
41 years$954$593$355$207$118$31
42 years$920$565$333$191$107$27
43 years$889$538$313$176$97$24
44 years$859$513$294$163$88$21
45 years$830$489$276$150$80$18
46 years$803$466$259$139$73$16
47 years$777$445$243$128$66$14
48 years$752$425$229$119$60$12
49 years$729$406$215$110$55$10
50 years$706$388$202$101$50$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $723,000, adding $5,844 every year, while hoping to spend $35,495 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: 39/41/20 Blend
58$723,000$723,000$723,000$723,000
59$802,774$764,455$753,249$829,096
60$846,891$764,147$740,716$848,249
61$894,317$762,634$726,574$865,137
62$945,355$759,820$710,731$882,669
63$1,000,332$755,602$693,092$900,921
64$1,059,611$749,872$673,556$919,982
65$1,123,590$742,515$652,018$939,953
66$1,192,706$733,407$628,370$960,945
67$1,267,438$722,421$602,497$983,086
68$1,348,315$709,418$574,279$1,006,518
69$1,435,917$694,253$543,592$1,031,404
70$1,530,882$676,773$510,303$1,057,924
71$1,633,911$656,813$474,277$1,086,280
72$1,745,775$634,203$435,371$1,116,702
73$1,867,324$608,758$393,435$1,149,445
74$1,999,490$580,287$348,315$1,184,794
75$2,143,301$548,583$299,846$1,223,070
76$2,299,886$513,432$247,859$1,264,629
77$2,470,489$474,605$192,177$1,309,872
78$2,656,477$431,859$132,613$1,359,244
79$2,859,358$384,940$68,976$1,413,243
80$3,080,788$333,577$1,062$1,472,423
81$3,322,591$277,486$0$1,537,403
82$3,586,777$216,364$0$1,624,111
83$3,875,556$149,893$0$1,719,304
84$4,191,362$77,738$0$1,823,658
85$4,536,877$0$0$1,938,171
86$4,915,051$0$0$2,064,157
87$5,329,135$0$0$2,240,603
88$5,782,706$0$0$2,433,971
89$6,279,707$0$0$2,645,956
90$6,824,477$0$0$2,878,420
91$7,421,798$0$0$3,133,416
92$8,076,933$0$0$3,413,206
93$8,795,684$0$0$3,720,280
94$9,584,436$0$0$4,057,383
95$10,450,226$0$0$4,427,535
96$11,400,804$0$0$4,834,066
97$12,444,708$0$0$5,280,643
98$13,591,342$0$0$5,771,306
99$14,851,067$0$0$6,310,506
100$16,235,296$0$0$6,903,147