Can I retire at age 59 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$61,274$60,728$60,195$59,676$59,168$57,297
2 years$30,333$29,769$29,221$28,690$28,175$26,307
3 years$20,021$19,454$18,908$18,382$17,876$16,069
4 years$14,866$14,301$13,760$13,243$12,749$11,018
5 years$11,774$11,212$10,678$10,172$9,692$8,041
6 years$9,713$9,155$8,630$8,135$7,669$6,099
7 years$8,242$7,689$7,171$6,688$6,237$4,748
8 years$7,139$6,591$6,082$5,610$5,174$3,766
9 years$6,281$5,738$5,238$4,779$4,357$3,028
10 years$5,596$5,058$4,567$4,119$3,713$2,460
11 years$5,035$4,503$4,021$3,585$3,193$2,015
12 years$4,569$4,042$3,568$3,145$2,767$1,661
13 years$4,174$3,652$3,188$2,776$2,413$1,376
14 years$3,836$3,320$2,864$2,464$2,115$1,145
15 years$3,543$3,033$2,586$2,198$1,862$956
16 years$3,287$2,783$2,345$1,968$1,646$800
17 years$3,062$2,563$2,134$1,768$1,459$671
18 years$2,862$2,368$1,948$1,593$1,298$564
19 years$2,683$2,195$1,783$1,440$1,157$475
20 years$2,522$2,039$1,636$1,304$1,033$400
21 years$2,376$1,900$1,505$1,184$924$338
22 years$2,245$1,773$1,387$1,076$829$285
23 years$2,124$1,658$1,281$980$744$241
24 years$2,014$1,554$1,185$894$669$204
25 years$1,913$1,458$1,097$816$602$173
26 years$1,820$1,370$1,018$746$542$146
27 years$1,734$1,290$945$683$489$124
28 years$1,654$1,215$878$626$441$105
29 years$1,580$1,147$817$574$398$89
30 years$1,510$1,083$761$527$360$75
31 years$1,446$1,024$710$484$325$64
32 years$1,385$969$662$445$294$54
33 years$1,329$917$618$409$266$46
34 years$1,276$869$578$376$241$39
35 years$1,226$825$540$346$218$33
36 years$1,178$783$505$319$198$28
37 years$1,134$743$473$294$179$24
38 years$1,092$706$443$271$163$20
39 years$1,052$672$415$250$147$17
40 years$1,014$639$389$230$134$15
41 years$979$608$365$213$121$12
42 years$945$579$342$196$110$10
43 years$912$552$321$181$100$9
44 years$882$526$301$167$91$8
45 years$852$502$283$154$82$6
46 years$824$479$266$143$75$5
47 years$798$457$250$132$68$5
48 years$772$436$235$122$62$4
49 years$748$416$221$113$56$3
50 years$724$398$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 $742,000, adding $6,414 every year, while hoping to spend $39,729 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: 45/37/18 Blend
58$742,000$742,000$742,000$742,000
59$824,300$784,974$773,473$856,868
60$866,107$781,166$757,113$876,504
61$910,847$775,841$738,873$893,324
62$958,777$768,880$718,649$910,725
63$1,010,180$760,162$696,331$928,779
64$1,065,363$749,556$671,803$947,567
65$1,124,668$736,922$644,947$967,182
66$1,188,468$722,115$615,636$987,729
67$1,257,171$704,977$583,739$1,009,326
68$1,331,227$685,346$549,119$1,032,107
69$1,411,131$663,047$511,633$1,056,222
70$1,497,424$637,894$471,131$1,081,841
71$1,590,704$609,693$427,456$1,109,155
72$1,691,625$578,237$380,445$1,138,379
73$1,800,908$543,309$329,928$1,169,753
74$1,919,345$504,676$275,725$1,203,548
75$2,047,808$462,094$217,651$1,240,066
76$2,187,253$415,305$155,511$1,279,645
77$2,338,735$364,037$89,103$1,322,666
78$2,503,412$308,001$18,213$1,369,550
79$2,682,559$246,892$0$1,420,772
80$2,877,578$180,388$0$1,487,890
81$3,090,014$108,150$0$1,564,911
82$3,321,564$29,818$0$1,649,038
83$3,574,097$0$0$1,741,049
84$3,849,672$0$0$1,864,196
85$4,150,553$0$0$2,011,990
86$4,479,232$0$0$2,173,524
87$4,838,454$0$0$2,350,159
88$5,231,240$0$0$2,543,391
89$5,660,917$0$0$2,754,868
90$6,131,148$0$0$2,986,406
91$6,645,967$0$0$3,240,003
92$7,209,815$0$0$3,517,859
93$7,827,582$0$0$3,822,399
94$8,504,657$0$0$4,156,292
95$9,246,971$0$0$4,522,479
96$10,061,058$0$0$4,924,198
97$10,954,116$0$0$5,365,015
98$11,934,070$0$0$5,848,860
99$13,009,653$0$0$6,380,060
100$14,190,482$0$0$6,963,383