Can I retire at age 59 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$59,705$59,173$58,654$58,148$57,653$57,242
2 years$29,557$29,006$28,473$27,956$27,454$27,039
3 years$19,509$18,956$18,424$17,911$17,418$17,012
4 years$14,486$13,935$13,408$12,904$12,423$12,030
5 years$11,473$10,925$10,405$9,912$9,443$9,064
6 years$9,465$8,921$8,409$7,926$7,472$7,107
7 years$8,031$7,492$6,988$6,517$6,077$5,726
8 years$6,956$6,422$5,926$5,467$5,041$4,705
9 years$6,121$5,591$5,104$4,656$4,246$3,924
10 years$5,453$4,929$4,450$4,014$3,617$3,310
11 years$4,906$4,388$3,918$3,493$3,111$2,817
12 years$4,452$3,938$3,477$3,064$2,696$2,416
13 years$4,067$3,559$3,106$2,705$2,351$2,084
14 years$3,738$3,235$2,791$2,401$2,061$1,807
15 years$3,452$2,955$2,520$2,142$1,815$1,573
16 years$3,203$2,711$2,285$1,918$1,604$1,374
17 years$2,983$2,497$2,079$1,723$1,422$1,205
18 years$2,788$2,307$1,898$1,553$1,264$1,058
19 years$2,614$2,138$1,737$1,403$1,127$932
20 years$2,457$1,987$1,594$1,271$1,007$823
21 years$2,316$1,851$1,467$1,153$901$727
22 years$2,187$1,728$1,352$1,049$807$644
23 years$2,070$1,616$1,248$955$725$570
24 years$1,963$1,514$1,154$871$651$506
25 years$1,864$1,421$1,069$795$586$450
26 years$1,773$1,335$992$727$528$400
27 years$1,689$1,257$921$666$476$356
28 years$1,611$1,184$856$610$430$317
29 years$1,539$1,117$796$559$388$282
30 years$1,472$1,055$742$513$350$251
31 years$1,409$997$692$471$317$224
32 years$1,350$944$645$433$287$200
33 years$1,295$894$603$398$259$178
34 years$1,243$847$563$367$235$159
35 years$1,194$803$526$337$213$142
36 years$1,148$763$492$311$193$127
37 years$1,105$724$461$286$175$114
38 years$1,064$688$432$264$158$101
39 years$1,025$655$404$243$144$91
40 years$988$623$379$224$130$81
41 years$954$593$355$207$118$73
42 years$920$565$333$191$107$65
43 years$889$538$313$176$97$58
44 years$859$513$294$163$88$52
45 years$830$489$276$150$80$46
46 years$803$466$259$139$73$42
47 years$777$445$243$128$66$37
48 years$752$425$229$119$60$33
49 years$729$406$215$110$55$30
50 years$706$388$202$101$50$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $723,000, adding $3,058 every year, while hoping to spend $50,233 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: 71/22/7 Blend
58$723,000$723,000$723,000$723,000
59$799,900$761,581$750,375$855,632
60$828,043$745,451$722,065$876,722
61$857,372$726,847$691,123$893,282
62$887,956$705,595$657,408$910,017
63$919,868$681,510$620,772$926,930
64$953,188$654,397$581,061$944,028
65$988,001$624,050$538,114$961,319
66$1,024,398$590,250$491,762$978,811
67$1,062,480$552,765$441,829$996,517
68$1,102,354$511,352$388,132$1,014,453
69$1,144,138$465,752$330,478$1,032,635
70$1,187,958$415,692$268,667$1,051,087
71$1,233,952$360,883$202,489$1,069,834
72$1,282,269$301,020$131,727$1,088,906
73$1,333,072$235,782$56,151$1,108,341
74$1,386,538$164,827$0$1,128,181
75$1,442,857$87,797$0$1,150,305
76$1,502,241$4,311$0$1,177,537
77$1,564,916$0$0$1,205,762
78$1,631,131$0$0$1,255,907
79$1,701,159$0$0$1,310,057
80$1,775,294$0$0$1,367,402
81$1,853,860$0$0$1,428,192
82$1,937,211$0$0$1,492,705
83$2,025,733$0$0$1,561,242
84$2,119,848$0$0$1,634,132
85$2,220,019$0$0$1,711,737
86$2,326,752$0$0$1,794,451
87$2,440,601$0$0$1,882,708
88$2,562,173$0$0$1,976,982
89$2,692,132$0$0$2,077,792
90$2,831,209$0$0$2,185,708
91$2,980,204$0$0$2,301,355
92$3,139,992$0$0$2,425,419
93$3,311,536$0$0$2,558,650
94$3,495,893$0$0$2,701,875
95$3,694,222$0$0$2,856,000
96$3,907,795$0$0$3,022,019
97$4,138,010$0$0$3,201,026
98$4,386,404$0$0$3,394,220
99$4,654,662$0$0$3,602,921
100$4,944,640$0$0$3,828,577