Can I retire at age 59 with 723,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.3%
1 years$59,705$59,173$58,654$58,148$57,653$55,497
2 years$29,557$29,006$28,473$27,956$27,454$25,306
3 years$19,509$18,956$18,424$17,911$17,418$15,347
4 years$14,486$13,935$13,408$12,904$12,423$10,443
5 years$11,473$10,925$10,405$9,912$9,443$7,561
6 years$9,465$8,921$8,409$7,926$7,472$5,688
7 years$8,031$7,492$6,988$6,517$6,077$4,391
8 years$6,956$6,422$5,926$5,467$5,041$3,452
9 years$6,121$5,591$5,104$4,656$4,246$2,750
10 years$5,453$4,929$4,450$4,014$3,617$2,213
11 years$4,906$4,388$3,918$3,493$3,111$1,795
12 years$4,452$3,938$3,477$3,064$2,696$1,465
13 years$4,067$3,559$3,106$2,705$2,351$1,201
14 years$3,738$3,235$2,791$2,401$2,061$989
15 years$3,452$2,955$2,520$2,142$1,815$817
16 years$3,203$2,711$2,285$1,918$1,604$676
17 years$2,983$2,497$2,079$1,723$1,422$561
18 years$2,788$2,307$1,898$1,553$1,264$466
19 years$2,614$2,138$1,737$1,403$1,127$388
20 years$2,457$1,987$1,594$1,271$1,007$324
21 years$2,316$1,851$1,467$1,153$901$270
22 years$2,187$1,728$1,352$1,049$807$225
23 years$2,070$1,616$1,248$955$725$188
24 years$1,963$1,514$1,154$871$651$157
25 years$1,864$1,421$1,069$795$586$132
26 years$1,773$1,335$992$727$528$110
27 years$1,689$1,257$921$666$476$92
28 years$1,611$1,184$856$610$430$77
29 years$1,539$1,117$796$559$388$65
30 years$1,472$1,055$742$513$350$54
31 years$1,409$997$692$471$317$45
32 years$1,350$944$645$433$287$38
33 years$1,295$894$603$398$259$32
34 years$1,243$847$563$367$235$27
35 years$1,194$803$526$337$213$22
36 years$1,148$763$492$311$193$19
37 years$1,105$724$461$286$175$16
38 years$1,064$688$432$264$158$13
39 years$1,025$655$404$243$144$11
40 years$988$623$379$224$130$9
41 years$954$593$355$207$118$8
42 years$920$565$333$191$107$6
43 years$889$538$313$176$97$5
44 years$859$513$294$163$88$5
45 years$830$489$276$150$80$4
46 years$803$466$259$139$73$3
47 years$777$445$243$128$66$3
48 years$752$425$229$119$60$2
49 years$729$406$215$110$55$2
50 years$706$388$202$101$50$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $723,000, adding $5,288 every year, while hoping to spend $46,808 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: 62/14/24 Blend
58$723,000$723,000$723,000$723,000
59$802,201$763,882$752,675$846,546
60$834,222$751,508$728,086$864,826
61$867,940$736,960$701,105$879,158
62$903,480$720,081$671,602$893,769
63$940,975$700,705$639,441$908,695
64$980,573$678,658$604,481$923,976
65$1,022,434$653,755$566,573$939,656
66$1,066,733$625,800$525,564$955,788
67$1,113,661$594,585$481,292$972,433
68$1,163,426$559,892$433,587$989,659
69$1,216,257$521,488$382,273$1,007,545
70$1,272,402$479,128$327,167$1,026,178
71$1,332,136$432,553$268,075$1,045,660
72$1,395,755$381,490$204,797$1,066,105
73$1,463,587$325,648$137,123$1,087,642
74$1,535,990$264,722$64,834$1,110,416
75$1,613,357$198,389$0$1,134,592
76$1,696,117$126,308$0$1,163,506
77$1,784,742$48,118$0$1,212,138
78$1,879,748$0$0$1,264,162
79$1,981,704$0$0$1,325,541
80$2,091,231$0$0$1,399,478
81$2,209,012$0$0$1,479,027
82$2,335,799$0$0$1,564,700
83$2,472,413$0$0$1,657,057
84$2,619,761$0$0$1,756,717
85$2,778,836$0$0$1,864,357
86$2,950,730$0$0$1,980,723
87$3,136,644$0$0$2,106,634
88$3,337,896$0$0$2,242,989
89$3,555,937$0$0$2,390,780
90$3,792,363$0$0$2,551,093
91$4,048,926$0$0$2,725,127
92$4,327,555$0$0$2,914,198
93$4,630,372$0$0$3,119,754
94$4,959,710$0$0$3,343,389
95$5,318,138$0$0$3,586,855
96$5,708,481$0$0$3,852,081
97$6,133,847$0$0$4,141,190
98$6,597,658$0$0$4,456,519
99$7,103,680$0$0$4,800,638
100$7,656,057$0$0$5,176,379