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%12.2%
1 years$59,705$59,173$58,654$58,148$57,653$57,122
2 years$29,557$29,006$28,473$27,956$27,454$26,919
3 years$19,509$18,956$18,424$17,911$17,418$16,896
4 years$14,486$13,935$13,408$12,904$12,423$11,917
5 years$11,473$10,925$10,405$9,912$9,443$8,956
6 years$9,465$8,921$8,409$7,926$7,472$7,003
7 years$8,031$7,492$6,988$6,517$6,077$5,627
8 years$6,956$6,422$5,926$5,467$5,041$4,610
9 years$6,121$5,591$5,104$4,656$4,246$3,833
10 years$5,453$4,929$4,450$4,014$3,617$3,224
11 years$4,906$4,388$3,918$3,493$3,111$2,736
12 years$4,452$3,938$3,477$3,064$2,696$2,338
13 years$4,067$3,559$3,106$2,705$2,351$2,011
14 years$3,738$3,235$2,791$2,401$2,061$1,738
15 years$3,452$2,955$2,520$2,142$1,815$1,508
16 years$3,203$2,711$2,285$1,918$1,604$1,313
17 years$2,983$2,497$2,079$1,723$1,422$1,147
18 years$2,788$2,307$1,898$1,553$1,264$1,004
19 years$2,614$2,138$1,737$1,403$1,127$881
20 years$2,457$1,987$1,594$1,271$1,007$775
21 years$2,316$1,851$1,467$1,153$901$682
22 years$2,187$1,728$1,352$1,049$807$602
23 years$2,070$1,616$1,248$955$725$531
24 years$1,963$1,514$1,154$871$651$470
25 years$1,864$1,421$1,069$795$586$415
26 years$1,773$1,335$992$727$528$368
27 years$1,689$1,257$921$666$476$326
28 years$1,611$1,184$856$610$430$289
29 years$1,539$1,117$796$559$388$256
30 years$1,472$1,055$742$513$350$228
31 years$1,409$997$692$471$317$202
32 years$1,350$944$645$433$287$180
33 years$1,295$894$603$398$259$160
34 years$1,243$847$563$367$235$142
35 years$1,194$803$526$337$213$126
36 years$1,148$763$492$311$193$112
37 years$1,105$724$461$286$175$100
38 years$1,064$688$432$264$158$89
39 years$1,025$655$404$243$144$79
40 years$988$623$379$224$130$70
41 years$954$593$355$207$118$63
42 years$920$565$333$191$107$56
43 years$889$538$313$176$97$50
44 years$859$513$294$163$88$44
45 years$830$489$276$150$80$39
46 years$803$466$259$139$73$35
47 years$777$445$243$128$66$31
48 years$752$425$229$119$60$28
49 years$729$406$215$110$55$25
50 years$706$388$202$101$50$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $723,000, adding $5,531 every year, while hoping to spend $30,745 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: 31/47/22 Blend
58$723,000$723,000$723,000$723,000
59$802,451$764,132$752,926$821,712
60$851,589$768,862$745,436$841,511
61$904,708$772,794$736,666$859,665
62$962,182$775,855$726,538$878,572
63$1,024,423$777,969$714,975$898,316
64$1,091,881$779,057$701,893$918,993
65$1,165,053$779,031$687,207$940,711
66$1,244,486$777,801$670,826$963,590
67$1,330,779$775,269$652,654$987,766
68$1,424,594$771,333$632,594$1,013,393
69$1,526,658$765,883$610,541$1,040,641
70$1,637,770$758,804$586,387$1,069,701
71$1,758,810$749,973$560,018$1,100,789
72$1,890,747$739,260$531,317$1,134,143
73$2,034,646$726,527$500,159$1,170,033
74$2,191,681$711,628$466,416$1,208,757
75$2,363,143$694,408$429,951$1,250,649
76$2,550,453$674,703$390,624$1,296,083
77$2,755,176$652,341$348,287$1,345,474
78$2,979,035$627,137$302,786$1,399,285
79$3,223,927$598,897$253,959$1,458,032
80$3,491,940$567,415$201,640$1,522,289
81$3,785,375$532,476$145,652$1,592,694
82$4,106,764$493,847$85,811$1,669,959
83$4,458,895$451,287$21,928$1,754,872
84$4,844,841$404,539$0$1,848,311
85$5,267,985$353,331$0$1,962,107
86$5,732,052$297,377$0$2,092,684
87$6,241,145$236,373$0$2,236,142
88$6,799,786$169,998$0$2,393,867
89$7,412,952$97,916$0$2,567,392
90$8,086,128$19,769$0$2,758,415
91$8,825,355$0$0$2,968,813
92$9,637,289$0$0$3,234,187
93$10,529,259$0$0$3,537,071
94$11,509,343$0$0$3,870,000
95$12,586,438$0$0$4,236,010
96$13,770,346$0$0$4,638,447
97$15,071,865$0$0$5,081,000
98$16,502,893$0$0$5,567,731
99$18,076,536$0$0$6,103,114
100$19,807,238$0$0$6,692,083