Can I retire at age 59 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$61,191$60,646$60,114$59,595$59,088$57,777
2 years$30,293$29,728$29,182$28,652$28,137$26,823
3 years$19,994$19,428$18,882$18,357$17,851$16,575
4 years$14,846$14,282$13,742$13,225$12,732$11,504
5 years$11,758$11,197$10,664$10,158$9,679$8,502
6 years$9,700$9,143$8,618$8,124$7,658$6,534
7 years$8,231$7,678$7,162$6,679$6,228$5,157
8 years$7,129$6,582$6,074$5,603$5,167$4,148
9 years$6,273$5,731$5,231$4,772$4,351$3,384
10 years$5,588$5,051$4,561$4,114$3,708$2,791
11 years$5,029$4,497$4,015$3,580$3,189$2,321
12 years$4,562$4,036$3,563$3,140$2,763$1,944
13 years$4,168$3,647$3,184$2,772$2,410$1,637
14 years$3,831$3,315$2,861$2,461$2,112$1,384
15 years$3,538$3,029$2,583$2,195$1,860$1,175
16 years$3,283$2,779$2,342$1,965$1,644$1,001
17 years$3,058$2,559$2,131$1,766$1,457$854
18 years$2,858$2,365$1,945$1,591$1,296$731
19 years$2,679$2,192$1,781$1,438$1,155$626
20 years$2,518$2,037$1,634$1,302$1,032$538
21 years$2,373$1,897$1,503$1,182$923$462
22 years$2,242$1,771$1,385$1,075$828$398
23 years$2,121$1,656$1,279$979$743$343
24 years$2,011$1,552$1,183$893$668$295
25 years$1,910$1,456$1,096$815$601$255
26 years$1,817$1,369$1,016$745$541$220
27 years$1,731$1,288$944$682$488$190
28 years$1,652$1,214$877$625$440$164
29 years$1,577$1,145$816$573$398$142
30 years$1,508$1,081$760$526$359$123
31 years$1,444$1,022$709$483$325$106
32 years$1,384$967$661$444$294$92
33 years$1,327$916$618$408$266$79
34 years$1,274$868$577$376$241$69
35 years$1,224$823$539$346$218$60
36 years$1,177$782$505$319$198$52
37 years$1,132$742$472$293$179$45
38 years$1,090$705$442$270$162$39
39 years$1,051$671$414$249$147$33
40 years$1,013$638$388$230$134$29
41 years$977$608$364$212$121$25
42 years$943$579$342$196$110$22
43 years$911$551$321$181$100$19
44 years$880$525$301$167$91$16
45 years$851$501$283$154$82$14
46 years$823$478$265$142$75$12
47 years$797$456$249$132$68$11
48 years$771$435$234$122$62$9
49 years$747$416$220$112$56$8
50 years$723$397$207$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $741,000, adding $2,083 every year, while hoping to spend $40,010 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: 50/32/18 Blend
58$741,000$741,000$741,000$741,000
59$818,731$779,458$767,972$855,479
60$859,671$775,081$751,129$876,685
61$903,446$769,148$732,380$895,424
62$950,303$761,542$711,621$914,928
63$1,000,513$752,136$688,739$935,283
64$1,054,372$740,798$663,618$956,587
65$1,112,207$727,386$636,139$978,950
66$1,174,375$711,751$606,172$1,002,496
67$1,241,269$693,735$573,587$1,027,362
68$1,313,320$673,169$538,244$1,053,705
69$1,391,002$649,878$499,998$1,081,699
70$1,474,834$623,672$458,698$1,111,540
71$1,565,389$594,354$414,186$1,143,447
72$1,663,294$561,713$366,297$1,177,664
73$1,769,241$525,527$314,858$1,214,466
74$1,883,986$485,561$259,689$1,254,158
75$2,008,366$441,567$200,602$1,297,082
76$2,143,297$393,281$137,400$1,343,618
77$2,289,789$340,427$69,878$1,394,192
78$2,448,951$282,712$0$1,449,277
79$2,622,004$219,824$0$1,509,818
80$2,810,291$151,438$0$1,590,335
81$3,015,289$77,208$0$1,678,089
82$3,238,626$0$0$1,773,854
83$3,482,090$0$0$1,879,624
84$3,747,651$0$0$2,024,719
85$4,037,476$0$0$2,183,146
86$4,353,951$0$0$2,356,216
87$4,699,704$0$0$2,545,377
88$5,077,625$0$0$2,752,221
89$5,490,899$0$0$2,978,500
90$5,943,030$0$0$3,226,144
91$6,437,878$0$0$3,497,279
92$6,979,694$0$0$3,794,245
93$7,573,158$0$0$4,119,619
94$8,223,423$0$0$4,476,239
95$8,936,166$0$0$4,867,232
96$9,717,638$0$0$5,296,041
97$10,574,724$0$0$5,766,457
98$11,515,009$0$0$6,282,657
99$12,546,846$0$0$6,849,242
100$13,679,435$0$0$7,471,281