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%13.4%
1 years$56,814$56,308$55,815$55,333$54,862$54,087
2 years$28,126$27,602$27,094$26,602$26,125$25,345
3 years$18,564$18,038$17,532$17,044$16,575$15,815
4 years$13,785$13,260$12,759$12,279$11,821$11,087
5 years$10,917$10,396$9,901$9,432$8,986$8,280
6 years$9,007$8,489$8,002$7,543$7,111$6,433
7 years$7,642$7,129$6,649$6,201$5,783$5,135
8 years$6,619$6,111$5,639$5,202$4,797$4,178
9 years$5,824$5,321$4,857$4,431$4,040$3,449
10 years$5,189$4,690$4,235$3,820$3,442$2,880
11 years$4,669$4,175$3,728$3,324$2,961$2,426
12 years$4,236$3,747$3,309$2,916$2,566$2,058
13 years$3,870$3,387$2,956$2,574$2,237$1,756
14 years$3,557$3,078$2,656$2,285$1,961$1,505
15 years$3,285$2,812$2,398$2,038$1,727$1,295
16 years$3,048$2,580$2,174$1,825$1,526$1,119
17 years$2,839$2,376$1,978$1,639$1,353$969
18 years$2,653$2,196$1,806$1,477$1,203$841
19 years$2,487$2,035$1,653$1,335$1,072$732
20 years$2,338$1,891$1,517$1,209$958$638
21 years$2,204$1,761$1,396$1,097$857$556
22 years$2,081$1,644$1,286$998$768$486
23 years$1,970$1,538$1,188$909$690$425
24 years$1,868$1,441$1,098$829$620$373
25 years$1,774$1,352$1,017$757$558$327
26 years$1,687$1,271$944$692$502$286
27 years$1,607$1,196$876$633$453$251
28 years$1,533$1,127$814$580$409$221
29 years$1,465$1,063$758$532$369$194
30 years$1,400$1,004$706$488$334$171
31 years$1,341$949$658$449$302$150
32 years$1,285$898$614$412$273$132
33 years$1,232$850$573$379$247$116
34 years$1,183$806$536$349$223$102
35 years$1,136$765$501$321$202$90
36 years$1,093$726$469$296$183$79
37 years$1,051$689$439$272$166$70
38 years$1,012$655$411$251$151$61
39 years$976$623$385$232$137$54
40 years$941$593$361$214$124$48
41 years$907$564$338$197$112$42
42 years$876$537$317$182$102$37
43 years$846$512$298$168$93$33
44 years$817$488$279$155$84$29
45 years$790$465$262$143$76$25
46 years$764$444$246$132$69$22
47 years$740$424$232$122$63$20
48 years$716$404$218$113$57$17
49 years$693$386$204$104$52$15
50 years$672$369$192$96$47$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $688,000, adding $6,125 every year, while hoping to spend $30,151 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: 33/40/27 Blend
58$688,000$688,000$688,000$688,000
59$764,494$728,030$717,366$783,281
60$810,392$731,623$709,317$801,626
61$859,961$734,382$699,988$818,270
62$913,544$736,233$689,305$835,616
63$971,516$737,100$677,188$853,748
64$1,034,294$736,900$663,556$872,759
65$1,102,330$735,547$648,324$892,754
66$1,176,126$732,947$631,401$913,851
67$1,256,232$729,002$612,694$936,183
68$1,343,253$723,609$592,105$959,899
69$1,437,855$716,656$569,531$985,167
70$1,540,771$708,027$544,865$1,012,172
71$1,652,807$697,597$517,994$1,041,126
72$1,774,848$685,234$488,802$1,072,263
73$1,907,872$670,800$457,166$1,105,846
74$2,052,951$654,146$422,958$1,142,166
75$2,211,269$635,116$386,044$1,181,551
76$2,384,126$613,544$346,284$1,224,366
77$2,572,955$589,256$303,532$1,271,018
78$2,779,332$562,065$257,636$1,321,959
79$3,004,993$531,776$208,437$1,377,695
80$3,251,851$498,181$155,767$1,438,787
81$3,522,009$461,060$99,454$1,505,861
82$3,817,784$420,183$39,317$1,579,610
83$4,141,730$375,304$0$1,660,808
84$4,496,655$326,163$0$1,757,475
85$4,885,656$272,487$0$1,875,955
86$5,312,141$213,986$0$2,006,029
87$5,779,864$150,356$0$2,148,931
88$6,292,959$81,273$0$2,306,030
89$6,855,983$6,397$0$2,478,839
90$7,473,951$0$0$2,669,031
91$8,152,389$0$0$2,911,306
92$8,897,385$0$0$3,180,549
93$9,715,644$0$0$3,476,383
94$10,614,554$0$0$3,801,491
95$11,602,252$0$0$4,158,831
96$12,687,702$0$0$4,551,662
97$13,880,783$0$0$4,983,574
98$15,192,374$0$0$5,458,521
99$16,634,463$0$0$5,980,862
100$18,220,259$0$0$6,555,397