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%15.9%
1 years$61,109$60,564$60,033$59,515$59,009$57,582
2 years$30,252$29,688$29,142$28,613$28,099$26,671
3 years$19,967$19,402$18,857$18,333$17,827$16,441
4 years$14,826$14,262$13,723$13,208$12,715$11,382
5 years$11,743$11,182$10,650$10,145$9,665$8,390
6 years$9,687$9,131$8,607$8,113$7,648$6,430
7 years$8,220$7,668$7,152$6,670$6,220$5,061
8 years$7,120$6,573$6,066$5,595$5,160$4,059
9 years$6,265$5,723$5,224$4,766$4,345$3,301
10 years$5,581$5,044$4,555$4,108$3,703$2,714
11 years$5,022$4,491$4,010$3,575$3,184$2,250
12 years$4,556$4,031$3,559$3,136$2,759$1,878
13 years$4,163$3,643$3,179$2,769$2,406$1,576
14 years$3,826$3,311$2,857$2,458$2,109$1,328
15 years$3,534$3,025$2,579$2,192$1,857$1,124
16 years$3,278$2,775$2,338$1,963$1,641$954
17 years$3,054$2,556$2,128$1,763$1,455$811
18 years$2,854$2,362$1,942$1,589$1,294$692
19 years$2,675$2,189$1,778$1,436$1,153$591
20 years$2,515$2,034$1,632$1,301$1,030$505
21 years$2,370$1,894$1,501$1,180$922$432
22 years$2,238$1,768$1,383$1,073$826$371
23 years$2,119$1,654$1,277$977$742$318
24 years$2,009$1,550$1,181$891$667$273
25 years$1,908$1,454$1,094$814$600$235
26 years$1,815$1,367$1,015$744$540$202
27 years$1,729$1,286$942$681$487$174
28 years$1,649$1,212$876$624$440$149
29 years$1,575$1,143$815$572$397$129
30 years$1,506$1,080$759$525$359$111
31 years$1,442$1,021$708$483$324$95
32 years$1,382$966$661$443$293$82
33 years$1,325$915$617$408$266$71
34 years$1,272$867$576$375$240$61
35 years$1,222$822$539$345$218$53
36 years$1,175$780$504$318$197$45
37 years$1,131$741$472$293$179$39
38 years$1,089$704$442$270$162$34
39 years$1,049$670$414$249$147$29
40 years$1,012$637$388$230$133$25
41 years$976$607$364$212$121$22
42 years$942$578$341$196$110$19
43 years$910$551$320$181$100$16
44 years$879$525$301$167$90$14
45 years$850$500$282$154$82$12
46 years$822$477$265$142$75$10
47 years$796$456$249$131$68$9
48 years$770$435$234$121$61$8
49 years$746$415$220$112$56$7
50 years$722$397$207$104$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $740,000, adding $4,739 every year, while hoping to spend $30,363 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: 38/40/22 Blend
58$740,000$740,000$740,000$740,000
59$820,368$781,148$769,678$845,988
60$871,740$787,119$763,157$870,967
61$927,334$792,364$755,399$894,751
62$987,548$796,816$746,331$919,843
63$1,052,822$800,404$735,877$946,376
64$1,123,637$803,051$723,956$974,504
65$1,200,523$804,675$710,484$1,004,395
66$1,284,063$805,191$695,371$1,036,237
67$1,374,898$804,506$678,527$1,070,238
68$1,473,735$802,524$659,854$1,106,633
69$1,581,348$799,140$639,252$1,145,678
70$1,698,592$794,245$616,614$1,187,663
71$1,826,408$787,722$591,830$1,232,906
72$1,965,830$779,448$564,784$1,281,763
73$2,117,996$769,293$535,356$1,334,629
74$2,284,160$757,117$503,419$1,391,941
75$2,465,702$742,773$468,841$1,454,186
76$2,664,140$726,106$431,484$1,521,904
77$2,881,148$706,951$391,204$1,595,692
78$3,118,567$685,133$347,851$1,676,215
79$3,378,424$660,467$301,267$1,764,208
80$3,662,952$632,759$251,288$1,860,487
81$3,974,609$601,800$197,743$1,965,956
82$4,316,104$567,373$140,452$2,081,617
83$4,690,417$529,245$79,228$2,208,578
84$5,100,834$487,173$13,876$2,348,068
85$5,550,972$440,896$0$2,501,447
86$6,044,813$390,143$0$2,683,334
87$6,586,748$334,623$0$2,886,610
88$7,181,608$274,032$0$3,109,910
89$7,834,719$208,047$0$3,355,327
90$8,551,946$136,327$0$3,625,175
91$9,339,750$58,512$0$3,922,008
92$10,205,248$0$0$4,248,646
93$11,156,282$0$0$4,619,550
94$12,201,489$0$0$5,055,595
95$13,350,386$0$0$5,535,009
96$14,613,458$0$0$6,062,182
97$16,002,255$0$0$6,641,948
98$17,529,503$0$0$7,279,635
99$19,209,224$0$0$7,981,113
100$21,056,865$0$0$8,752,848