Can I retire at age 59 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$65,072$64,493$63,927$63,375$62,836$61,770
2 years$32,214$31,614$31,033$30,469$29,922$28,851
3 years$21,263$20,660$20,080$19,522$18,984$17,941
4 years$15,788$15,187$14,613$14,064$13,539$12,534
5 years$12,504$11,907$11,340$10,803$10,292$9,326
6 years$10,316$9,723$9,165$8,639$8,144$7,219
7 years$8,753$8,165$7,616$7,103$6,623$5,739
8 years$7,582$6,999$6,459$5,958$5,495$4,651
9 years$6,671$6,094$5,563$5,075$4,627$3,824
10 years$5,943$5,372$4,850$4,375$3,943$3,179
11 years$5,348$4,782$4,270$3,807$3,391$2,666
12 years$4,852$4,292$3,789$3,340$2,938$2,251
13 years$4,433$3,879$3,386$2,948$2,562$1,912
14 years$4,074$3,526$3,042$2,617$2,246$1,631
15 years$3,763$3,221$2,746$2,334$1,978$1,397
16 years$3,491$2,955$2,490$2,090$1,748$1,201
17 years$3,252$2,721$2,266$1,878$1,550$1,035
18 years$3,039$2,515$2,068$1,692$1,378$894
19 years$2,849$2,331$1,894$1,529$1,228$774
20 years$2,678$2,166$1,738$1,385$1,097$671
21 years$2,524$2,017$1,598$1,257$982$582
22 years$2,384$1,883$1,473$1,143$880$506
23 years$2,256$1,761$1,360$1,041$790$440
24 years$2,139$1,650$1,258$949$710$384
25 years$2,032$1,549$1,165$867$639$334
26 years$1,933$1,455$1,081$793$576$292
27 years$1,841$1,370$1,003$726$519$255
28 years$1,756$1,291$933$665$468$222
29 years$1,677$1,218$868$610$423$194
30 years$1,604$1,150$809$559$382$170
31 years$1,535$1,087$754$514$345$148
32 years$1,471$1,029$703$472$312$130
33 years$1,411$974$657$434$283$114
34 years$1,355$923$614$400$256$99
35 years$1,302$876$574$368$232$87
36 years$1,252$831$537$339$210$76
37 years$1,204$789$502$312$190$67
38 years$1,160$750$470$288$173$58
39 years$1,117$713$441$265$157$51
40 years$1,077$679$413$245$142$45
41 years$1,039$646$387$226$129$39
42 years$1,003$615$363$208$117$34
43 years$969$586$341$192$106$30
44 years$936$559$320$178$96$26
45 years$905$533$300$164$87$23
46 years$875$508$282$151$79$20
47 years$847$485$265$140$72$18
48 years$820$463$249$129$65$16
49 years$794$442$234$119$59$14
50 years$769$422$220$110$54$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $788,000, adding $5,959 every year, while hoping to spend $53,427 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: 39/44/17 Blend
58$788,000$788,000$788,000$788,000
59$874,523$832,759$820,545$903,974
60$906,878$816,718$791,187$909,541
61$940,743$798,101$759,055$909,977
62$976,215$776,724$724,000$909,320
63$1,013,400$752,395$685,865$907,500
64$1,052,413$724,908$644,488$904,442
65$1,093,378$694,047$599,697$900,070
66$1,136,430$659,583$551,314$894,305
67$1,181,717$621,273$499,154$887,067
68$1,229,398$578,862$443,022$878,271
69$1,279,648$532,077$382,714$867,831
70$1,332,656$480,633$318,019$855,661
71$1,388,629$424,226$248,715$841,669
72$1,447,793$362,537$174,570$825,765
73$1,510,393$295,227$95,344$807,856
74$1,576,699$221,939$10,784$787,849
75$1,647,004$142,295$0$765,649
76$1,721,628$55,897$0$755,576
77$1,800,924$0$0$746,147
78$1,885,273$0$0$753,604
79$1,975,096$0$0$790,424
80$2,070,854$0$0$829,738
81$2,173,049$0$0$871,761
82$2,282,234$0$0$916,728
83$2,399,013$0$0$964,897
84$2,524,049$0$0$1,016,551
85$2,658,070$0$0$1,072,001
86$2,801,872$0$0$1,131,588
87$2,956,331$0$0$1,195,684
88$3,122,409$0$0$1,264,702
89$3,301,159$0$0$1,339,092
90$3,493,740$0$0$1,419,350
91$3,701,424$0$0$1,506,019
92$3,925,608$0$0$1,599,698
93$4,167,829$0$0$1,701,045
94$4,429,772$0$0$1,810,782
95$4,713,294$0$0$1,929,703
96$5,020,433$0$0$2,058,682
97$5,353,432$0$0$2,198,680
98$5,714,755$0$0$2,350,753
99$6,107,114$0$0$2,516,063
100$6,533,492$0$0$2,695,889