Can I retire at age 59 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$59,787$59,255$58,735$58,228$57,733$56,475
2 years$29,598$29,046$28,512$27,994$27,492$26,231
3 years$19,536$18,982$18,449$17,936$17,442$16,217
4 years$14,506$13,954$13,426$12,922$12,440$11,261
5 years$11,489$10,940$10,419$9,925$9,456$8,326
6 years$9,478$8,933$8,420$7,937$7,483$6,403
7 years$8,042$7,502$6,997$6,526$6,085$5,056
8 years$6,966$6,431$5,934$5,474$5,048$4,069
9 years$6,129$5,599$5,111$4,663$4,251$3,322
10 years$5,460$4,935$4,456$4,019$3,622$2,741
11 years$4,913$4,394$3,923$3,498$3,115$2,281
12 years$4,458$3,944$3,482$3,068$2,700$1,912
13 years$4,073$3,564$3,111$2,709$2,354$1,611
14 years$3,743$3,239$2,795$2,405$2,064$1,363
15 years$3,457$2,959$2,523$2,145$1,817$1,158
16 years$3,208$2,715$2,288$1,920$1,606$987
17 years$2,988$2,500$2,082$1,725$1,424$843
18 years$2,792$2,311$1,900$1,555$1,266$722
19 years$2,618$2,141$1,740$1,405$1,128$619
20 years$2,461$1,990$1,597$1,272$1,008$532
21 years$2,319$1,853$1,469$1,155$902$458
22 years$2,190$1,730$1,354$1,050$809$394
23 years$2,073$1,618$1,250$956$726$340
24 years$1,965$1,516$1,156$872$652$293
25 years$1,867$1,423$1,071$796$587$253
26 years$1,776$1,337$993$728$529$219
27 years$1,692$1,258$922$667$477$189
28 years$1,614$1,186$857$611$430$163
29 years$1,541$1,119$798$560$388$141
30 years$1,474$1,057$743$514$351$122
31 years$1,411$999$693$472$317$106
32 years$1,352$945$646$434$287$92
33 years$1,297$895$603$399$260$79
34 years$1,245$848$564$367$235$69
35 years$1,196$805$527$338$213$60
36 years$1,150$764$493$311$193$52
37 years$1,106$725$462$287$175$45
38 years$1,065$689$432$264$159$39
39 years$1,027$655$405$244$144$34
40 years$990$624$380$225$130$29
41 years$955$594$356$207$118$25
42 years$922$565$334$191$107$22
43 years$890$539$313$177$97$19
44 years$860$513$294$163$88$16
45 years$832$490$276$151$80$14
46 years$804$467$259$139$73$12
47 years$778$446$244$129$66$11
48 years$753$425$229$119$60$9
49 years$730$406$215$110$55$8
50 years$707$388$202$101$50$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $724,000, adding $6,440 every year, while hoping to spend $54,870 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: 45/42/13 Blend
58$724,000$724,000$724,000$724,000
59$804,491$766,119$754,897$837,437
60$828,168$745,277$721,805$840,156
61$852,421$721,576$685,765$837,029
62$877,250$694,816$646,621$832,427
63$902,656$664,788$604,209$826,236
64$928,634$631,270$558,357$818,335
65$955,181$594,028$508,888$808,592
66$982,288$552,814$455,614$796,871
67$1,009,945$507,365$398,341$783,024
68$1,038,137$457,405$336,864$766,895
69$1,066,849$402,639$270,970$748,318
70$1,096,058$342,758$200,438$727,116
71$1,125,738$277,436$125,035$703,102
72$1,155,859$206,327$44,520$676,076
73$1,186,385$129,064$0$645,823
74$1,217,272$45,264$0$617,863
75$1,248,470$0$0$593,173
76$1,279,922$0$0$586,374
77$1,311,562$0$0$600,542
78$1,343,313$0$0$614,717
79$1,375,089$0$0$628,854
80$1,406,791$0$0$642,904
81$1,438,307$0$0$656,809
82$1,469,511$0$0$670,505
83$1,500,259$0$0$683,919
84$1,530,390$0$0$696,969
85$1,559,723$0$0$709,564
86$1,588,055$0$0$721,601
87$1,615,159$0$0$732,965
88$1,640,778$0$0$743,528
89$1,664,627$0$0$753,145
90$1,686,389$0$0$761,658
91$1,705,707$0$0$768,888
92$1,722,187$0$0$774,635
93$1,735,385$0$0$778,679
94$1,744,813$0$0$780,774
95$1,749,923$0$0$780,647
96$1,750,109$0$0$777,995
97$1,744,697$0$0$772,480
98$1,732,940$0$0$763,729
99$1,714,008$0$0$751,328
100$1,686,980$0$0$734,818