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%17.5%
1 years$61,109$60,564$60,033$59,515$59,009$57,211
2 years$30,252$29,688$29,142$28,613$28,099$26,304
3 years$19,967$19,402$18,857$18,333$17,827$16,090
4 years$14,826$14,262$13,723$13,208$12,715$11,049
5 years$11,743$11,182$10,650$10,145$9,665$8,076
6 years$9,687$9,131$8,607$8,113$7,648$6,136
7 years$8,220$7,668$7,152$6,670$6,220$4,785
8 years$7,120$6,573$6,066$5,595$5,160$3,802
9 years$6,265$5,723$5,224$4,766$4,345$3,063
10 years$5,581$5,044$4,555$4,108$3,703$2,493
11 years$5,022$4,491$4,010$3,575$3,184$2,046
12 years$4,556$4,031$3,559$3,136$2,759$1,690
13 years$4,163$3,643$3,179$2,769$2,406$1,403
14 years$3,826$3,311$2,857$2,458$2,109$1,169
15 years$3,534$3,025$2,579$2,192$1,857$978
16 years$3,278$2,775$2,338$1,963$1,641$821
17 years$3,054$2,556$2,128$1,763$1,455$690
18 years$2,854$2,362$1,942$1,589$1,294$581
19 years$2,675$2,189$1,778$1,436$1,153$490
20 years$2,515$2,034$1,632$1,301$1,030$414
21 years$2,370$1,894$1,501$1,180$922$350
22 years$2,238$1,768$1,383$1,073$826$297
23 years$2,119$1,654$1,277$977$742$251
24 years$2,009$1,550$1,181$891$667$213
25 years$1,908$1,454$1,094$814$600$181
26 years$1,815$1,367$1,015$744$540$154
27 years$1,729$1,286$942$681$487$130
28 years$1,649$1,212$876$624$440$111
29 years$1,575$1,143$815$572$397$94
30 years$1,506$1,080$759$525$359$80
31 years$1,442$1,021$708$483$324$68
32 years$1,382$966$661$443$293$58
33 years$1,325$915$617$408$266$49
34 years$1,272$867$576$375$240$42
35 years$1,222$822$539$345$218$36
36 years$1,175$780$504$318$197$30
37 years$1,131$741$472$293$179$26
38 years$1,089$704$442$270$162$22
39 years$1,049$670$414$249$147$19
40 years$1,012$637$388$230$133$16
41 years$976$607$364$212$121$13
42 years$942$578$341$196$110$11
43 years$910$551$320$181$100$10
44 years$879$525$301$167$90$8
45 years$850$500$282$154$82$7
46 years$822$477$265$142$75$6
47 years$796$456$249$131$68$5
48 years$770$435$234$121$61$4
49 years$746$415$220$112$56$4
50 years$722$397$207$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $740,000, adding $4,331 every year, while hoping to spend $57,607 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: 62/22/16 Blend
58$740,000$740,000$740,000$740,000
59$819,947$780,727$769,257$867,247
60$842,289$757,690$733,734$876,541
61$864,978$731,592$695,090$879,783
62$887,990$702,225$653,160$881,953
63$911,295$669,364$607,771$882,950
64$934,858$632,773$558,742$882,666
65$958,639$592,205$505,885$880,984
66$982,591$547,393$449,003$877,780
67$1,006,660$498,061$387,890$872,919
68$1,030,785$443,912$322,330$866,256
69$1,054,897$384,635$252,100$857,633
70$1,078,916$319,901$176,964$846,883
71$1,102,752$249,363$96,679$833,823
72$1,126,303$172,653$10,989$818,257
73$1,149,456$89,382$0$799,973
74$1,172,080$0$0$792,479
75$1,194,032$0$0$784,894
76$1,215,148$0$0$798,348
77$1,235,247$0$0$811,076
78$1,254,125$0$0$822,938
79$1,271,554$0$0$833,777
80$1,287,281$0$0$843,420
81$1,301,021$0$0$851,671
82$1,312,460$0$0$858,313
83$1,321,245$0$0$863,106
84$1,326,987$0$0$865,781
85$1,329,250$0$0$866,039
86$1,327,551$0$0$863,551
87$1,321,355$0$0$857,947
88$1,310,066$0$0$848,822
89$1,293,025$0$0$835,721
90$1,269,499$0$0$818,144
91$1,238,679$0$0$795,535
92$1,199,664$0$0$767,279
93$1,151,462$0$0$732,696
94$1,092,970$0$0$691,029
95$1,022,969$0$0$641,447
96$940,112$0$0$583,025
97$842,906$0$0$514,742
98$729,703$0$0$435,470
99$598,680$0$0$343,962
100$447,819$0$0$238,839