Can I retire at age 59 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$61,109$60,564$60,033$59,515$59,009$57,350
2 years$30,252$29,688$29,142$28,613$28,099$26,441
3 years$19,967$19,402$18,857$18,333$17,827$16,221
4 years$14,826$14,262$13,723$13,208$12,715$11,173
5 years$11,743$11,182$10,650$10,145$9,665$8,192
6 years$9,687$9,131$8,607$8,113$7,648$6,245
7 years$8,220$7,668$7,152$6,670$6,220$4,887
8 years$7,120$6,573$6,066$5,595$5,160$3,896
9 years$6,265$5,723$5,224$4,766$4,345$3,150
10 years$5,581$5,044$4,555$4,108$3,703$2,574
11 years$5,022$4,491$4,010$3,575$3,184$2,120
12 years$4,556$4,031$3,559$3,136$2,759$1,758
13 years$4,163$3,643$3,179$2,769$2,406$1,465
14 years$3,826$3,311$2,857$2,458$2,109$1,227
15 years$3,534$3,025$2,579$2,192$1,857$1,031
16 years$3,278$2,775$2,338$1,963$1,641$868
17 years$3,054$2,556$2,128$1,763$1,455$733
18 years$2,854$2,362$1,942$1,589$1,294$620
19 years$2,675$2,189$1,778$1,436$1,153$526
20 years$2,515$2,034$1,632$1,301$1,030$446
21 years$2,370$1,894$1,501$1,180$922$379
22 years$2,238$1,768$1,383$1,073$826$323
23 years$2,119$1,654$1,277$977$742$275
24 years$2,009$1,550$1,181$891$667$234
25 years$1,908$1,454$1,094$814$600$199
26 years$1,815$1,367$1,015$744$540$170
27 years$1,729$1,286$942$681$487$145
28 years$1,649$1,212$876$624$440$124
29 years$1,575$1,143$815$572$397$106
30 years$1,506$1,080$759$525$359$90
31 years$1,442$1,021$708$483$324$77
32 years$1,382$966$661$443$293$66
33 years$1,325$915$617$408$266$56
34 years$1,272$867$576$375$240$48
35 years$1,222$822$539$345$218$41
36 years$1,175$780$504$318$197$35
37 years$1,131$741$472$293$179$30
38 years$1,089$704$442$270$162$26
39 years$1,049$670$414$249$147$22
40 years$1,012$637$388$230$133$19
41 years$976$607$364$212$121$16
42 years$942$578$341$196$110$14
43 years$910$551$320$181$100$12
44 years$879$525$301$167$90$10
45 years$850$500$282$154$82$9
46 years$822$477$265$142$75$7
47 years$796$456$249$131$68$6
48 years$770$435$234$121$61$5
49 years$746$415$220$112$56$5
50 years$722$397$207$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $740,000, adding $5,879 every year, while hoping to spend $30,012 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: 45/30/25 Blend
58$740,000$740,000$740,000$740,000
59$821,544$782,324$770,854$852,352
60$873,409$788,726$764,745$881,129
61$929,558$794,435$757,426$908,948
62$990,397$799,386$748,824$938,526
63$1,056,372$803,510$738,863$970,040
64$1,127,972$806,732$727,465$1,003,692
65$1,205,736$808,972$714,546$1,039,701
66$1,290,257$810,149$700,020$1,078,313
67$1,382,188$810,171$683,795$1,119,800
68$1,482,247$808,944$665,778$1,164,464
69$1,591,222$806,369$645,867$1,212,639
70$1,709,983$802,337$623,960$1,264,695
71$1,839,486$796,736$599,947$1,321,043
72$1,980,783$789,446$573,715$1,382,138
73$2,135,033$780,339$545,145$1,448,484
74$2,303,512$769,281$514,112$1,520,638
75$2,487,622$756,128$480,487$1,599,218
76$2,688,910$740,729$444,134$1,684,909
77$2,909,078$722,923$404,911$1,778,466
78$3,149,998$702,540$362,670$1,880,727
79$3,413,734$679,401$317,256$1,992,619
80$3,702,557$653,314$268,507$2,115,167
81$4,018,971$624,079$216,254$2,249,505
82$4,365,729$591,483$160,322$2,396,886
83$4,745,867$555,299$100,526$2,558,696
84$5,162,726$515,289$36,674$2,736,469
85$5,619,987$471,201$0$2,931,899
86$6,121,705$422,769$0$3,155,253
87$6,672,345$369,711$0$3,411,191
88$7,276,826$311,729$0$3,692,266
89$7,940,568$248,509$0$4,001,066
90$8,669,538$179,718$0$4,340,446
91$9,470,313$105,007$0$4,713,556
92$10,350,137$24,003$0$5,123,870
93$11,316,988$0$0$5,575,223
94$12,379,659$0$0$6,092,866
95$13,547,836$0$0$6,670,710
96$14,832,188$0$0$7,306,118
97$16,244,472$0$0$8,004,921
98$17,797,640$0$0$8,773,540
99$19,505,962$0$0$9,619,049
100$21,385,161$0$0$10,549,245