Can I retire at age 59 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$59,787$59,255$58,735$58,228$57,733$57,441
2 years$29,598$29,046$28,512$27,994$27,492$27,198
3 years$19,536$18,982$18,449$17,936$17,442$17,154
4 years$14,506$13,954$13,426$12,922$12,440$12,161
5 years$11,489$10,940$10,419$9,925$9,456$9,187
6 years$9,478$8,933$8,420$7,937$7,483$7,223
7 years$8,042$7,502$6,997$6,526$6,085$5,835
8 years$6,966$6,431$5,934$5,474$5,048$4,808
9 years$6,129$5,599$5,111$4,663$4,251$4,021
10 years$5,460$4,935$4,456$4,019$3,622$3,402
11 years$4,913$4,394$3,923$3,498$3,115$2,905
12 years$4,458$3,944$3,482$3,068$2,700$2,499
13 years$4,073$3,564$3,111$2,709$2,354$2,162
14 years$3,743$3,239$2,795$2,405$2,064$1,881
15 years$3,457$2,959$2,523$2,145$1,817$1,643
16 years$3,208$2,715$2,288$1,920$1,606$1,441
17 years$2,988$2,500$2,082$1,725$1,424$1,267
18 years$2,792$2,311$1,900$1,555$1,266$1,117
19 years$2,618$2,141$1,740$1,405$1,128$987
20 years$2,461$1,990$1,597$1,272$1,008$874
21 years$2,319$1,853$1,469$1,155$902$776
22 years$2,190$1,730$1,354$1,050$809$689
23 years$2,073$1,618$1,250$956$726$613
24 years$1,965$1,516$1,156$872$652$546
25 years$1,867$1,423$1,071$796$587$487
26 years$1,776$1,337$993$728$529$435
27 years$1,692$1,258$922$667$477$388
28 years$1,614$1,186$857$611$430$347
29 years$1,541$1,119$798$560$388$310
30 years$1,474$1,057$743$514$351$278
31 years$1,411$999$693$472$317$249
32 years$1,352$945$646$434$287$223
33 years$1,297$895$603$399$260$200
34 years$1,245$848$564$367$235$179
35 years$1,196$805$527$338$213$161
36 years$1,150$764$493$311$193$144
37 years$1,106$725$462$287$175$129
38 years$1,065$689$432$264$159$116
39 years$1,027$655$405$244$144$104
40 years$990$624$380$225$130$93
41 years$955$594$356$207$118$84
42 years$922$565$334$191$107$75
43 years$890$539$313$177$97$68
44 years$860$513$294$163$88$61
45 years$832$490$276$151$80$55
46 years$804$467$259$139$73$49
47 years$778$446$244$129$66$44
48 years$753$425$229$119$60$40
49 years$730$406$215$110$55$36
50 years$707$388$202$101$50$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $724,000, adding $6,224 every year, while hoping to spend $54,717 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: 73/6/21 Blend
58$724,000$724,000$724,000$724,000
59$804,268$765,896$754,674$858,456
60$828,085$745,206$721,737$874,622
61$852,497$721,669$685,863$885,149
62$877,508$695,087$646,895$895,298
63$903,119$665,251$604,671$905,023
64$929,329$631,940$559,020$914,274
65$956,136$594,922$509,763$922,994
66$983,537$553,947$456,714$931,125
67$1,011,523$508,756$399,680$938,603
68$1,040,085$459,072$338,456$945,358
69$1,069,211$404,603$272,831$951,315
70$1,098,882$345,041$202,583$956,395
71$1,129,080$280,060$127,481$960,509
72$1,159,778$209,315$47,284$963,564
73$1,190,947$132,443$0$965,458
74$1,222,550$49,059$0$974,664
75$1,254,546$0$0$994,344
76$1,286,886$0$0$1,016,550
77$1,319,512$0$0$1,042,207
78$1,352,358$0$0$1,068,023
79$1,385,350$0$0$1,093,937
80$1,418,402$0$0$1,119,879
81$1,451,414$0$0$1,145,770
82$1,484,277$0$0$1,171,519
83$1,516,863$0$0$1,197,023
84$1,549,030$0$0$1,222,169
85$1,580,619$0$0$1,246,826
86$1,611,447$0$0$1,270,847
87$1,641,312$0$0$1,294,069
88$1,669,987$0$0$1,316,308
89$1,697,216$0$0$1,337,358
90$1,722,714$0$0$1,356,990
91$1,746,164$0$0$1,374,944
92$1,767,209$0$0$1,390,936
93$1,785,452$0$0$1,404,645
94$1,800,454$0$0$1,415,716
95$1,811,721$0$0$1,423,750
96$1,818,708$0$0$1,428,309
97$1,820,807$0$0$1,428,902
98$1,817,342$0$0$1,424,985
99$1,807,564$0$0$1,415,954
100$1,790,642$0$0$1,401,139