Can I retire at age 59 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$61,109$60,564$60,033$59,515$59,009$58,271
2 years$30,252$29,688$29,142$28,613$28,099$27,357
3 years$19,967$19,402$18,857$18,333$17,827$17,104
4 years$14,826$14,262$13,723$13,208$12,715$12,015
5 years$11,743$11,182$10,650$10,145$9,665$8,992
6 years$9,687$9,131$8,607$8,113$7,648$7,001
7 years$8,220$7,668$7,152$6,670$6,220$5,600
8 years$7,120$6,573$6,066$5,595$5,160$4,568
9 years$6,265$5,723$5,224$4,766$4,345$3,780
10 years$5,581$5,044$4,555$4,108$3,703$3,164
11 years$5,022$4,491$4,010$3,575$3,184$2,671
12 years$4,556$4,031$3,559$3,136$2,759$2,272
13 years$4,163$3,643$3,179$2,769$2,406$1,943
14 years$3,826$3,311$2,857$2,458$2,109$1,670
15 years$3,534$3,025$2,579$2,192$1,857$1,442
16 years$3,278$2,775$2,338$1,963$1,641$1,249
17 years$3,054$2,556$2,128$1,763$1,455$1,084
18 years$2,854$2,362$1,942$1,589$1,294$944
19 years$2,675$2,189$1,778$1,436$1,153$824
20 years$2,515$2,034$1,632$1,301$1,030$720
21 years$2,370$1,894$1,501$1,180$922$630
22 years$2,238$1,768$1,383$1,073$826$552
23 years$2,119$1,654$1,277$977$742$485
24 years$2,009$1,550$1,181$891$667$426
25 years$1,908$1,454$1,094$814$600$374
26 years$1,815$1,367$1,015$744$540$329
27 years$1,729$1,286$942$681$487$290
28 years$1,649$1,212$876$624$440$256
29 years$1,575$1,143$815$572$397$225
30 years$1,506$1,080$759$525$359$199
31 years$1,442$1,021$708$483$324$175
32 years$1,382$966$661$443$293$155
33 years$1,325$915$617$408$266$137
34 years$1,272$867$576$375$240$121
35 years$1,222$822$539$345$218$107
36 years$1,175$780$504$318$197$94
37 years$1,131$741$472$293$179$83
38 years$1,089$704$442$270$162$74
39 years$1,049$670$414$249$147$65
40 years$1,012$637$388$230$133$57
41 years$976$607$364$212$121$51
42 years$942$578$341$196$110$45
43 years$910$551$320$181$100$40
44 years$879$525$301$167$90$35
45 years$850$500$282$154$82$31
46 years$822$477$265$142$75$28
47 years$796$456$249$131$68$24
48 years$770$435$234$121$61$22
49 years$746$415$220$112$56$19
50 years$722$397$207$104$51$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $740,000, adding $4,017 every year, while hoping to spend $38,127 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: 76/7/17 Blend
58$740,000$740,000$740,000$740,000
59$819,624$780,404$768,934$878,495
60$862,658$778,076$754,126$915,639
61$908,805$774,358$737,545$951,212
62$958,340$769,138$719,089$989,187
63$1,011,568$762,304$698,657$1,029,793
64$1,068,823$753,732$676,137$1,073,280
65$1,130,472$743,293$651,416$1,119,928
66$1,196,916$730,851$624,374$1,170,041
67$1,268,599$716,259$594,888$1,223,958
68$1,346,005$699,365$562,826$1,282,051
69$1,429,670$680,006$528,053$1,344,732
70$1,520,178$658,009$490,425$1,412,455
71$1,618,176$633,191$449,794$1,485,721
72$1,724,373$605,360$406,004$1,565,081
73$1,839,547$574,311$358,894$1,651,145
74$1,964,557$539,828$308,293$1,744,587
75$2,100,345$501,683$254,024$1,846,148
76$2,247,949$459,634$195,903$1,956,646
77$2,408,510$413,426$133,735$2,076,985
78$2,583,282$362,789$67,320$2,208,161
79$2,773,649$307,437$0$2,351,273
80$2,981,129$247,069$0$2,508,180
81$3,207,396$181,368$0$2,692,647
82$3,454,291$109,996$0$2,893,968
83$3,723,842$32,598$0$3,113,813
84$4,018,279$0$0$3,354,025
85$4,340,058$0$0$3,620,573
86$4,691,884$0$0$3,914,784
87$5,076,735$0$0$4,236,639
88$5,497,888$0$0$4,588,883
89$5,958,953$0$0$4,974,540
90$6,463,906$0$0$5,396,938
91$7,017,124$0$0$5,859,742
92$7,623,428$0$0$6,366,991
93$8,288,127$0$0$6,923,130
94$9,017,070$0$0$7,533,056
95$9,816,697$0$0$8,202,164
96$10,694,102$0$0$8,936,394
97$11,657,100$0$0$9,742,290
98$12,714,298$0$0$10,627,060
99$13,875,178$0$0$11,598,645
100$15,150,184$0$0$12,665,792