Can I retire at age 59 with 707,000?

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 $707,000?

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$58,383$57,863$57,356$56,861$56,377$55,284
2 years$28,903$28,364$27,843$27,337$26,846$25,749
3 years$19,077$18,536$18,016$17,515$17,032$15,966
4 years$14,165$13,626$13,111$12,619$12,148$11,120
5 years$11,219$10,683$10,175$9,692$9,234$8,248
6 years$9,255$8,724$8,223$7,751$7,307$6,363
7 years$7,853$7,326$6,833$6,373$5,942$5,042
8 years$6,802$6,280$5,795$5,346$4,930$4,072
9 years$5,985$5,468$4,991$4,553$4,152$3,336
10 years$5,332$4,819$4,351$3,925$3,537$2,763
11 years$4,798$4,291$3,831$3,416$3,042$2,308
12 years$4,353$3,851$3,400$2,996$2,636$1,942
13 years$3,977$3,480$3,038$2,645$2,299$1,643
14 years$3,655$3,163$2,729$2,348$2,015$1,396
15 years$3,376$2,890$2,464$2,094$1,774$1,191
16 years$3,132$2,651$2,234$1,875$1,568$1,019
17 years$2,917$2,442$2,033$1,685$1,390$874
18 years$2,727$2,256$1,856$1,518$1,236$752
19 years$2,556$2,091$1,699$1,372$1,102$648
20 years$2,403$1,943$1,559$1,243$984$559
21 years$2,264$1,810$1,434$1,128$881$483
22 years$2,139$1,690$1,322$1,025$790$418
23 years$2,024$1,580$1,220$934$709$362
24 years$1,919$1,481$1,129$852$637$314
25 years$1,823$1,389$1,045$778$573$272
26 years$1,734$1,306$970$711$516$236
27 years$1,652$1,229$900$651$466$205
28 years$1,576$1,158$837$596$420$178
29 years$1,505$1,092$779$547$379$155
30 years$1,439$1,032$725$502$343$135
31 years$1,378$975$676$461$310$117
32 years$1,320$923$631$424$280$102
33 years$1,266$874$589$390$254$89
34 years$1,215$828$551$358$230$77
35 years$1,168$786$515$330$208$67
36 years$1,123$746$481$304$188$59
37 years$1,080$708$451$280$171$51
38 years$1,040$673$422$258$155$45
39 years$1,003$640$395$238$140$39
40 years$967$609$371$219$127$34
41 years$932$580$348$203$116$29
42 years$900$552$326$187$105$26
43 years$869$526$306$173$95$22
44 years$840$501$287$159$86$20
45 years$812$478$270$147$78$17
46 years$785$456$253$136$71$15
47 years$760$435$238$126$65$13
48 years$736$415$224$116$59$11
49 years$713$397$210$107$53$10
50 years$690$379$198$99$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $707,000, adding $3,741 every year, while hoping to spend $51,284 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: 43/43/14 Blend
58$707,000$707,000$707,000$707,000
59$782,973$745,502$734,543$813,305
60$808,270$727,466$704,585$816,890
61$834,429$706,827$671,904$815,367
62$861,483$683,404$636,355$812,602
63$889,468$657,004$597,786$808,501
64$918,421$627,425$556,040$802,970
65$948,382$594,450$510,948$795,904
66$979,391$557,852$462,339$787,196
67$1,011,493$517,391$410,031$776,733
68$1,044,733$472,811$353,836$764,393
69$1,079,161$423,844$293,555$750,051
70$1,114,829$370,206$228,982$733,573
71$1,151,791$311,595$159,902$714,819
72$1,190,105$247,695$86,091$693,639
73$1,229,834$178,170$7,313$669,880
74$1,271,043$102,666$0$643,376
75$1,313,801$20,809$0$625,421
76$1,358,184$0$0$606,280
77$1,404,271$0$0$616,787
78$1,452,147$0$0$637,941
79$1,501,902$0$0$659,938
80$1,553,633$0$0$682,821
81$1,607,445$0$0$706,639
82$1,663,450$0$0$731,443
83$1,721,766$0$0$757,287
84$1,782,522$0$0$784,232
85$1,845,858$0$0$812,340
86$1,911,922$0$0$841,682
87$1,980,874$0$0$872,330
88$2,052,889$0$0$904,365
89$2,128,153$0$0$937,875
90$2,206,868$0$0$972,952
91$2,289,255$0$0$1,009,699
92$2,375,550$0$0$1,048,225
93$2,466,009$0$0$1,088,650
94$2,560,912$0$0$1,131,105
95$2,660,562$0$0$1,175,729
96$2,765,286$0$0$1,222,676
97$2,875,443$0$0$1,272,113
98$2,991,421$0$0$1,324,221
99$3,113,643$0$0$1,379,198
100$3,242,570$0$0$1,437,260