Can I retire at age 59 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$58,631$58,109$57,599$57,102$56,616$56,354
2 years$29,025$28,485$27,961$27,453$26,960$26,695
3 years$19,158$18,615$18,093$17,589$17,105$16,846
4 years$14,225$13,684$13,167$12,672$12,199$11,948
5 years$11,266$10,728$10,218$9,733$9,274$9,031
6 years$9,295$8,761$8,258$7,784$7,338$7,104
7 years$7,887$7,357$6,862$6,400$5,968$5,743
8 years$6,831$6,306$5,820$5,368$4,951$4,735
9 years$6,011$5,491$5,012$4,573$4,169$3,962
10 years$5,355$4,840$4,370$3,942$3,552$3,354
11 years$4,818$4,309$3,847$3,430$3,055$2,865
12 years$4,372$3,867$3,414$3,009$2,648$2,466
13 years$3,994$3,495$3,050$2,656$2,309$2,136
14 years$3,670$3,177$2,741$2,358$2,024$1,859
15 years$3,390$2,902$2,475$2,103$1,782$1,625
16 years$3,146$2,663$2,244$1,883$1,575$1,426
17 years$2,930$2,452$2,042$1,692$1,396$1,255
18 years$2,738$2,266$1,864$1,525$1,242$1,107
19 years$2,567$2,100$1,706$1,378$1,107$979
20 years$2,413$1,951$1,566$1,248$989$868
21 years$2,274$1,818$1,440$1,132$885$770
22 years$2,148$1,697$1,327$1,030$793$685
23 years$2,033$1,587$1,226$938$712$610
24 years$1,927$1,487$1,133$855$640$544
25 years$1,830$1,395$1,050$781$576$485
26 years$1,741$1,311$974$714$519$433
27 years$1,659$1,234$904$654$468$387
28 years$1,582$1,163$841$599$422$346
29 years$1,511$1,097$782$549$381$310
30 years$1,445$1,036$729$504$344$278
31 years$1,383$979$679$463$311$249
32 years$1,326$927$634$425$281$223
33 years$1,272$878$592$391$255$200
34 years$1,221$832$553$360$231$180
35 years$1,173$789$517$331$209$161
36 years$1,128$749$484$305$189$145
37 years$1,085$711$453$281$172$130
38 years$1,045$676$424$259$156$117
39 years$1,007$643$397$239$141$105
40 years$971$612$372$220$128$94
41 years$936$582$349$203$116$85
42 years$904$554$327$188$105$76
43 years$873$528$307$173$96$68
44 years$844$503$288$160$87$62
45 years$816$480$271$148$79$55
46 years$789$458$254$136$72$50
47 years$763$437$239$126$65$45
48 years$739$417$225$117$59$40
49 years$716$398$211$108$54$36
50 years$693$381$198$100$49$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $710,000, adding $6,232 every year, while hoping to spend $46,941 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: 65/26/9 Blend
58$710,000$710,000$710,000$710,000
59$788,848$751,218$740,213$838,263
60$819,366$738,083$715,066$858,827
61$851,423$722,731$687,502$875,167
62$885,127$705,004$657,393$891,807
63$920,596$684,734$624,600$908,772
64$957,955$661,745$588,983$926,091
65$997,343$635,848$550,391$943,798
66$1,038,913$606,844$508,670$961,934
67$1,082,827$574,525$463,655$980,544
68$1,129,266$538,667$415,178$999,679
69$1,178,425$499,036$363,061$1,019,401
70$1,230,519$455,383$307,118$1,039,777
71$1,285,781$407,446$247,155$1,060,885
72$1,344,467$354,947$182,971$1,082,815
73$1,406,856$297,593$114,354$1,105,666
74$1,473,254$235,074$41,084$1,129,554
75$1,543,996$167,063$0$1,154,607
76$1,619,449$93,214$0$1,184,535
77$1,700,014$13,162$0$1,220,382
78$1,786,131$0$0$1,258,409
79$1,878,282$0$0$1,319,871
80$1,976,997$0$0$1,389,776
81$2,082,855$0$0$1,464,772
82$2,196,493$0$0$1,545,315
83$2,318,610$0$0$1,631,904
84$2,449,972$0$0$1,725,088
85$2,591,421$0$0$1,825,468
86$2,743,882$0$0$1,933,707
87$2,908,370$0$0$2,050,530
88$3,086,001$0$0$2,176,736
89$3,278,002$0$0$2,313,202
90$3,485,719$0$0$2,460,893
91$3,710,634$0$0$2,620,868
92$3,954,375$0$0$2,794,292
93$4,218,734$0$0$2,982,449
94$4,505,680$0$0$3,186,746
95$4,817,377$0$0$3,408,733
96$5,156,210$0$0$3,650,118
97$5,524,799$0$0$3,912,775
98$5,926,027$0$0$4,198,768
99$6,363,068$0$0$4,510,370
100$6,839,414$0$0$4,850,081