Can I retire at age 59 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$61,191$60,646$60,114$59,595$59,088$58,133
2 years$30,293$29,728$29,182$28,652$28,137$27,178
3 years$19,994$19,428$18,882$18,357$17,851$16,917
4 years$14,846$14,282$13,742$13,225$12,732$11,830
5 years$11,758$11,197$10,664$10,158$9,679$8,812
6 years$9,700$9,143$8,618$8,124$7,658$6,828
7 years$8,231$7,678$7,162$6,679$6,228$5,434
8 years$7,129$6,582$6,074$5,603$5,167$4,409
9 years$6,273$5,731$5,231$4,772$4,351$3,629
10 years$5,588$5,051$4,561$4,114$3,708$3,021
11 years$5,029$4,497$4,015$3,580$3,189$2,537
12 years$4,562$4,036$3,563$3,140$2,763$2,145
13 years$4,168$3,647$3,184$2,772$2,410$1,824
14 years$3,831$3,315$2,861$2,461$2,112$1,558
15 years$3,538$3,029$2,583$2,195$1,860$1,337
16 years$3,283$2,779$2,342$1,965$1,644$1,150
17 years$3,058$2,559$2,131$1,766$1,457$993
18 years$2,858$2,365$1,945$1,591$1,296$859
19 years$2,679$2,192$1,781$1,438$1,155$744
20 years$2,518$2,037$1,634$1,302$1,032$646
21 years$2,373$1,897$1,503$1,182$923$562
22 years$2,242$1,771$1,385$1,075$828$489
23 years$2,121$1,656$1,279$979$743$426
24 years$2,011$1,552$1,183$893$668$372
25 years$1,910$1,456$1,096$815$601$325
26 years$1,817$1,369$1,016$745$541$284
27 years$1,731$1,288$944$682$488$248
28 years$1,652$1,214$877$625$440$217
29 years$1,577$1,145$816$573$398$190
30 years$1,508$1,081$760$526$359$166
31 years$1,444$1,022$709$483$325$146
32 years$1,384$967$661$444$294$127
33 years$1,327$916$618$408$266$112
34 years$1,274$868$577$376$241$98
35 years$1,224$823$539$346$218$86
36 years$1,177$782$505$319$198$75
37 years$1,132$742$472$293$179$66
38 years$1,090$705$442$270$162$58
39 years$1,051$671$414$249$147$51
40 years$1,013$638$388$230$134$45
41 years$977$608$364$212$121$39
42 years$943$579$342$196$110$34
43 years$911$551$321$181$100$30
44 years$880$525$301$167$91$26
45 years$851$501$283$154$82$23
46 years$823$478$265$142$75$20
47 years$797$456$249$132$68$18
48 years$771$435$234$122$62$16
49 years$747$416$220$112$56$14
50 years$723$397$207$104$51$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $741,000, adding $4,331 every year, while hoping to spend $39,877 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: 45/36/19 Blend
58$741,000$741,000$741,000$741,000
59$821,049$781,776$770,291$853,334
60$862,368$777,655$753,667$872,281
61$906,564$771,994$735,149$888,518
62$953,889$764,678$714,633$905,292
63$1,004,620$755,581$692,007$922,670
64$1,059,059$744,572$667,157$940,731
65$1,117,537$731,510$639,961$959,563
66$1,180,419$716,248$610,293$979,266
67$1,248,105$698,628$578,021$999,953
68$1,321,035$678,483$543,008$1,021,753
69$1,399,691$655,639$505,109$1,044,809
70$1,484,603$629,909$464,173$1,069,285
71$1,576,353$601,095$420,044$1,095,365
72$1,675,582$568,990$372,556$1,123,255
73$1,782,993$533,372$321,539$1,153,187
74$1,899,360$494,009$266,812$1,185,422
75$2,025,534$450,654$208,189$1,220,251
76$2,162,448$403,047$145,473$1,258,002
77$2,311,133$350,911$78,462$1,299,041
78$2,472,719$293,956$6,941$1,343,778
79$2,648,452$231,875$0$1,392,669
80$2,839,699$164,343$0$1,460,292
81$3,047,969$91,016$0$1,535,568
82$3,274,919$11,533$0$1,617,772
83$3,522,374$0$0$1,707,665
84$3,792,341$0$0$1,835,599
85$4,087,032$0$0$1,980,318
86$4,408,879$0$0$2,138,459
87$4,760,562$0$0$2,311,349
88$5,145,028$0$0$2,500,449
89$5,565,524$0$0$2,707,368
90$6,025,626$0$0$2,933,876
91$6,529,270$0$0$3,181,925
92$7,080,789$0$0$3,453,661
93$7,684,958$0$0$3,751,451
94$8,347,033$0$0$4,077,899
95$9,072,803$0$0$4,435,874
96$9,868,644$0$0$4,828,537
97$10,741,579$0$0$5,259,368
98$11,699,343$0$0$5,732,201
99$12,750,456$0$0$6,251,258
100$13,904,303$0$0$6,821,192