Can I retire at age 59 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$61,439$60,892$60,358$59,836$59,328$57,823
2 years$30,415$29,849$29,300$28,768$28,251$26,745
3 years$20,075$19,507$18,959$18,432$17,924$16,463
4 years$14,907$14,339$13,797$13,279$12,783$11,380
5 years$11,806$11,242$10,707$10,200$9,718$8,375
6 years$9,740$9,180$8,653$8,157$7,689$6,408
7 years$8,264$7,709$7,191$6,706$6,253$5,035
8 years$7,158$6,608$6,098$5,626$5,188$4,031
9 years$6,298$5,754$5,252$4,792$4,369$3,273
10 years$5,611$5,072$4,579$4,130$3,723$2,686
11 years$5,049$4,515$4,031$3,595$3,202$2,222
12 years$4,581$4,052$3,578$3,153$2,774$1,851
13 years$4,185$3,662$3,197$2,784$2,419$1,550
14 years$3,846$3,329$2,872$2,471$2,121$1,304
15 years$3,553$3,041$2,593$2,204$1,867$1,101
16 years$3,296$2,790$2,351$1,973$1,650$932
17 years$3,070$2,570$2,139$1,773$1,463$791
18 years$2,869$2,374$1,953$1,598$1,301$673
19 years$2,690$2,201$1,788$1,444$1,160$573
20 years$2,529$2,045$1,641$1,308$1,036$489
21 years$2,383$1,905$1,509$1,187$927$418
22 years$2,251$1,778$1,391$1,079$831$358
23 years$2,130$1,663$1,284$983$746$306
24 years$2,020$1,558$1,188$896$670$262
25 years$1,918$1,462$1,100$818$603$225
26 years$1,825$1,374$1,020$748$543$193
27 years$1,738$1,293$947$685$490$165
28 years$1,658$1,219$881$628$442$142
29 years$1,584$1,150$820$576$399$122
30 years$1,514$1,086$763$528$361$105
31 years$1,450$1,026$712$485$326$90
32 years$1,389$971$664$446$295$77
33 years$1,332$920$620$410$267$67
34 years$1,279$872$579$377$242$57
35 years$1,229$827$542$347$219$49
36 years$1,182$785$507$320$198$42
37 years$1,137$745$474$295$180$36
38 years$1,095$708$444$272$163$31
39 years$1,055$674$416$250$148$27
40 years$1,017$641$390$231$134$23
41 years$981$610$366$213$122$20
42 years$947$581$343$197$110$17
43 years$915$553$322$182$100$15
44 years$884$528$302$168$91$13
45 years$855$503$284$155$83$11
46 years$827$480$266$143$75$9
47 years$800$458$250$132$68$8
48 years$774$437$235$122$62$7
49 years$750$418$221$113$56$6
50 years$726$399$208$104$51$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $744,000, adding $3,697 every year, while hoping to spend $23,931 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: 74/17/9 Blend
58$744,000$744,000$744,000$744,000
59$823,701$784,269$772,737$883,116
60$882,257$797,236$773,162$935,760
61$945,982$810,036$772,798$990,046
62$1,015,381$822,636$771,595$1,048,846
63$1,091,004$835,000$769,498$1,112,599
64$1,173,461$847,090$766,451$1,181,790
65$1,263,421$858,864$762,394$1,256,951
66$1,361,620$870,278$757,264$1,338,670
67$1,468,869$881,286$750,996$1,427,594
68$1,586,061$891,836$743,522$1,524,434
69$1,714,178$901,875$734,769$1,629,977
70$1,854,304$911,346$724,663$1,745,087
71$2,007,628$920,187$713,124$1,870,718
72$2,175,463$928,334$700,071$2,007,921
73$2,359,254$935,716$685,417$2,157,853
74$2,560,591$942,259$669,072$2,321,790
75$2,781,226$947,884$650,941$2,501,138
76$3,023,089$952,509$630,925$2,697,446
77$3,288,304$956,042$608,921$2,912,422
78$3,579,213$958,389$584,822$3,147,947
79$3,898,392$959,450$558,513$3,406,095
80$4,248,682$959,117$529,877$3,689,152
81$4,633,210$957,276$498,790$3,999,637
82$5,055,422$953,807$465,124$4,340,325
83$5,519,112$948,581$428,743$4,714,277
84$6,028,462$941,462$389,506$5,124,865
85$6,588,078$932,306$347,267$5,575,805
86$7,203,032$920,959$301,871$6,071,193
87$7,878,915$907,260$253,158$6,615,545
88$8,621,886$891,037$200,960$7,213,835
89$9,438,728$872,108$145,101$7,871,548
90$10,336,916$850,279$85,400$8,594,728
91$11,324,686$825,347$21,666$9,390,037
92$12,411,111$797,096$0$10,264,816
93$13,606,187$765,296$0$11,231,610
94$14,920,929$729,707$0$12,297,395
95$16,367,472$690,071$0$13,469,940
96$17,959,188$646,118$0$14,760,099
97$19,710,809$597,562$0$16,179,837
98$21,638,568$544,099$0$17,742,337
99$23,760,353$485,411$0$19,462,128
100$26,095,872$421,159$0$21,355,222