Can I retire at age 59 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$56,814$56,308$55,815$55,333$54,862$53,449
2 years$28,126$27,602$27,094$26,602$26,125$24,711
3 years$18,564$18,038$17,532$17,044$16,575$15,204
4 years$13,785$13,260$12,759$12,279$11,821$10,504
5 years$10,917$10,396$9,901$9,432$8,986$7,726
6 years$9,007$8,489$8,002$7,543$7,111$5,909
7 years$7,642$7,129$6,649$6,201$5,783$4,640
8 years$6,619$6,111$5,639$5,202$4,797$3,712
9 years$5,824$5,321$4,857$4,431$4,040$3,012
10 years$5,189$4,690$4,235$3,820$3,442$2,470
11 years$4,669$4,175$3,728$3,324$2,961$2,043
12 years$4,236$3,747$3,309$2,916$2,566$1,701
13 years$3,870$3,387$2,956$2,574$2,237$1,423
14 years$3,557$3,078$2,656$2,285$1,961$1,196
15 years$3,285$2,812$2,398$2,038$1,727$1,009
16 years$3,048$2,580$2,174$1,825$1,526$854
17 years$2,839$2,376$1,978$1,639$1,353$724
18 years$2,653$2,196$1,806$1,477$1,203$616
19 years$2,487$2,035$1,653$1,335$1,072$524
20 years$2,338$1,891$1,517$1,209$958$447
21 years$2,204$1,761$1,396$1,097$857$382
22 years$2,081$1,644$1,286$998$768$326
23 years$1,970$1,538$1,188$909$690$279
24 years$1,868$1,441$1,098$829$620$239
25 years$1,774$1,352$1,017$757$558$205
26 years$1,687$1,271$944$692$502$175
27 years$1,607$1,196$876$633$453$150
28 years$1,533$1,127$814$580$409$129
29 years$1,465$1,063$758$532$369$111
30 years$1,400$1,004$706$488$334$95
31 years$1,341$949$658$449$302$82
32 years$1,285$898$614$412$273$70
33 years$1,232$850$573$379$247$60
34 years$1,183$806$536$349$223$52
35 years$1,136$765$501$321$202$44
36 years$1,093$726$469$296$183$38
37 years$1,051$689$439$272$166$33
38 years$1,012$655$411$251$151$28
39 years$976$623$385$232$137$24
40 years$941$593$361$214$124$21
41 years$907$564$338$197$112$18
42 years$876$537$317$182$102$15
43 years$846$512$298$168$93$13
44 years$817$488$279$155$84$11
45 years$790$465$262$143$76$10
46 years$764$444$246$132$69$8
47 years$740$424$232$122$63$7
48 years$716$404$218$113$57$6
49 years$693$386$204$104$52$5
50 years$672$369$192$96$47$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $688,000, adding $3,297 every year, while hoping to spend $21,491 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: 69/9/22 Blend
58$688,000$688,000$688,000$688,000
59$761,577$725,113$714,449$809,711
60$816,391$737,777$715,517$854,987
61$876,077$750,342$715,900$901,703
62$941,107$762,779$715,553$952,307
63$1,012,004$775,059$714,428$1,007,182
64$1,089,342$787,151$712,475$1,066,751
65$1,173,753$799,019$709,641$1,131,479
66$1,265,933$810,628$705,871$1,201,878
67$1,366,648$821,938$701,107$1,278,516
68$1,476,740$832,908$695,289$1,362,014
69$1,597,139$843,492$688,352$1,453,061
70$1,728,867$853,642$680,231$1,552,414
71$1,873,048$863,307$670,856$1,660,908
72$2,030,923$872,433$660,154$1,779,464
73$2,203,856$880,961$648,048$1,909,098
74$2,393,350$888,829$634,458$2,050,927
75$2,601,060$895,971$619,301$2,206,185
76$2,828,810$902,316$602,490$2,376,232
77$3,078,608$907,788$583,932$2,562,568
78$3,352,665$912,308$563,533$2,766,844
79$3,653,416$915,791$541,191$2,990,882
80$3,983,546$918,146$516,802$3,236,689
81$4,346,010$919,277$490,257$3,506,481
82$4,744,063$919,082$461,441$3,802,696
83$5,181,293$917,453$430,234$4,128,025
84$5,661,650$914,273$396,513$4,485,432
85$6,189,488$909,422$360,145$4,878,187
86$6,769,601$902,769$320,995$5,309,892
87$7,407,272$894,176$278,921$5,784,519
88$8,108,322$883,499$233,772$6,306,447
89$8,879,162$870,582$185,395$6,880,500
90$9,726,857$855,261$133,627$7,511,999
91$10,659,191$837,363$78,298$8,206,807
92$11,684,739$816,705$19,231$8,971,388
93$12,812,950$793,091$0$9,812,866
94$14,054,234$766,315$0$10,749,375
95$15,420,061$736,160$0$11,784,776
96$16,923,070$702,394$0$12,924,136
97$18,577,186$664,775$0$14,178,022
98$20,397,753$623,042$0$15,558,075
99$22,401,677$576,924$0$17,077,124
100$24,607,586$526,132$0$18,749,308