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%14.7%
1 years$61,274$60,728$60,195$59,676$59,168$58,021
2 years$30,333$29,769$29,221$28,690$28,175$27,024
3 years$20,021$19,454$18,908$18,382$17,876$16,756
4 years$14,866$14,301$13,760$13,243$12,749$11,670
5 years$11,774$11,212$10,678$10,172$9,692$8,657
6 years$9,713$9,155$8,630$8,135$7,669$6,679
7 years$8,242$7,689$7,171$6,688$6,237$5,292
8 years$7,139$6,591$6,082$5,610$5,174$4,274
9 years$6,281$5,738$5,238$4,779$4,357$3,501
10 years$5,596$5,058$4,567$4,119$3,713$2,900
11 years$5,035$4,503$4,021$3,585$3,193$2,423
12 years$4,569$4,042$3,568$3,145$2,767$2,038
13 years$4,174$3,652$3,188$2,776$2,413$1,724
14 years$3,836$3,320$2,864$2,464$2,115$1,465
15 years$3,543$3,033$2,586$2,198$1,862$1,250
16 years$3,287$2,783$2,345$1,968$1,646$1,070
17 years$3,062$2,563$2,134$1,768$1,459$918
18 years$2,862$2,368$1,948$1,593$1,298$789
19 years$2,683$2,195$1,783$1,440$1,157$680
20 years$2,522$2,039$1,636$1,304$1,033$587
21 years$2,376$1,900$1,505$1,184$924$507
22 years$2,245$1,773$1,387$1,076$829$439
23 years$2,124$1,658$1,281$980$744$380
24 years$2,014$1,554$1,185$894$669$329
25 years$1,913$1,458$1,097$816$602$286
26 years$1,820$1,370$1,018$746$542$248
27 years$1,734$1,290$945$683$489$216
28 years$1,654$1,215$878$626$441$187
29 years$1,580$1,147$817$574$398$163
30 years$1,510$1,083$761$527$360$142
31 years$1,446$1,024$710$484$325$123
32 years$1,385$969$662$445$294$107
33 years$1,329$917$618$409$266$93
34 years$1,276$869$578$376$241$81
35 years$1,226$825$540$346$218$71
36 years$1,178$783$505$319$198$62
37 years$1,134$743$473$294$179$54
38 years$1,092$706$443$271$163$47
39 years$1,052$672$415$250$147$41
40 years$1,014$639$389$230$134$35
41 years$979$608$365$213$121$31
42 years$945$579$342$196$110$27
43 years$912$552$321$181$100$23
44 years$882$526$301$167$91$20
45 years$852$502$283$154$82$18
46 years$824$479$266$143$75$16
47 years$798$457$250$132$68$14
48 years$772$436$235$122$62$12
49 years$748$416$221$113$56$10
50 years$724$398$207$104$51$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $742,000, adding $3,448 every year, while hoping to spend $21,760 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: 52/39/9 Blend
58$742,000$742,000$742,000$742,000
59$821,241$781,915$770,414$861,885
60$881,855$797,076$773,070$905,077
61$947,922$812,251$775,086$949,387
62$1,019,976$827,417$776,417$997,062
63$1,098,604$842,551$777,017$1,048,424
64$1,184,451$857,625$776,837$1,103,828
65$1,278,229$872,613$775,825$1,163,666
66$1,380,720$887,483$773,927$1,228,369
67$1,492,788$902,203$771,088$1,298,412
68$1,615,380$916,739$767,247$1,374,320
69$1,749,541$931,052$762,343$1,456,670
70$1,896,423$945,103$756,310$1,546,099
71$2,057,293$958,847$749,081$1,643,309
72$2,233,546$972,239$740,584$1,749,074
73$2,426,718$985,230$730,744$1,864,248
74$2,638,502$997,765$719,483$1,989,772
75$2,870,762$1,009,789$706,719$2,126,683
76$3,125,552$1,021,240$692,365$2,276,125
77$3,405,132$1,032,055$676,334$2,439,358
78$3,711,994$1,042,164$658,529$2,617,775
79$4,048,881$1,051,494$638,854$2,812,908
80$4,418,816$1,059,966$617,204$3,026,446
81$4,825,129$1,067,497$593,474$3,260,255
82$5,271,486$1,073,999$567,549$3,516,390
83$5,761,929$1,079,376$539,314$3,797,115
84$6,300,908$1,083,529$508,644$4,104,930
85$6,893,329$1,086,349$475,411$4,442,589
86$7,544,593$1,087,725$439,481$4,813,128
87$8,260,652$1,087,534$400,715$5,219,898
88$9,048,064$1,085,649$358,965$5,666,589
89$9,914,054$1,081,933$314,078$6,157,271
90$10,866,583$1,076,243$265,894$6,696,433
91$11,914,420$1,068,425$214,248$7,289,023
92$13,067,230$1,058,316$158,964$7,940,494
93$14,335,658$1,045,745$99,860$8,656,861
94$15,731,437$1,030,528$36,746$9,444,755
95$17,267,491$1,012,471$0$10,311,484
96$18,958,064$991,371$0$11,268,046
97$20,818,847$967,009$0$12,324,344
98$22,867,133$939,156$0$13,486,657
99$25,121,975$907,569$0$14,765,806
100$27,604,365$871,989$0$16,173,716