Can I retire at age 59 with 688,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.7%
1 years$56,814$56,308$55,815$55,333$54,862$54,244
2 years$28,126$27,602$27,094$26,602$26,125$25,503
3 years$18,564$18,038$17,532$17,044$16,575$15,968
4 years$13,785$13,260$12,759$12,279$11,821$11,234
5 years$10,917$10,396$9,901$9,432$8,986$8,421
6 years$9,007$8,489$8,002$7,543$7,111$6,567
7 years$7,642$7,129$6,649$6,201$5,783$5,262
8 years$6,619$6,111$5,639$5,202$4,797$4,299
9 years$5,824$5,321$4,857$4,431$4,040$3,564
10 years$5,189$4,690$4,235$3,820$3,442$2,988
11 years$4,669$4,175$3,728$3,324$2,961$2,528
12 years$4,236$3,747$3,309$2,916$2,566$2,154
13 years$3,870$3,387$2,956$2,574$2,237$1,846
14 years$3,557$3,078$2,656$2,285$1,961$1,590
15 years$3,285$2,812$2,398$2,038$1,727$1,375
16 years$3,048$2,580$2,174$1,825$1,526$1,193
17 years$2,839$2,376$1,978$1,639$1,353$1,039
18 years$2,653$2,196$1,806$1,477$1,203$906
19 years$2,487$2,035$1,653$1,335$1,072$792
20 years$2,338$1,891$1,517$1,209$958$694
21 years$2,204$1,761$1,396$1,097$857$609
22 years$2,081$1,644$1,286$998$768$535
23 years$1,970$1,538$1,188$909$690$471
24 years$1,868$1,441$1,098$829$620$414
25 years$1,774$1,352$1,017$757$558$365
26 years$1,687$1,271$944$692$502$322
27 years$1,607$1,196$876$633$453$284
28 years$1,533$1,127$814$580$409$251
29 years$1,465$1,063$758$532$369$222
30 years$1,400$1,004$706$488$334$196
31 years$1,341$949$658$449$302$174
32 years$1,285$898$614$412$273$154
33 years$1,232$850$573$379$247$136
34 years$1,183$806$536$349$223$120
35 years$1,136$765$501$321$202$107
36 years$1,093$726$469$296$183$94
37 years$1,051$689$439$272$166$84
38 years$1,012$655$411$251$151$74
39 years$976$623$385$232$137$66
40 years$941$593$361$214$124$58
41 years$907$564$338$197$112$52
42 years$876$537$317$182$102$46
43 years$846$512$298$168$93$41
44 years$817$488$279$155$84$36
45 years$790$465$262$143$76$32
46 years$764$444$246$132$69$28
47 years$740$424$232$122$63$25
48 years$716$404$218$113$57$22
49 years$693$386$204$104$52$20
50 years$672$369$192$96$47$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $688,000, adding $2,711 every year, while hoping to spend $40,553 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: 29/48/23 Blend
58$688,000$688,000$688,000$688,000
59$760,972$724,508$713,844$777,510
60$795,444$716,861$694,610$782,898
61$832,071$707,480$673,372$784,914
62$871,034$696,237$650,021$786,239
63$912,524$682,998$624,441$786,840
64$956,754$667,618$596,513$786,683
65$1,003,957$649,945$566,111$785,736
66$1,054,388$629,820$533,102$783,969
67$1,108,325$607,071$497,351$781,354
68$1,166,076$581,518$458,714$777,862
69$1,227,975$552,972$417,040$773,470
70$1,294,391$521,230$372,173$768,156
71$1,365,728$486,080$323,950$761,905
72$1,442,430$447,295$272,200$754,704
73$1,524,983$404,638$216,744$746,545
74$1,613,923$357,857$157,397$737,429
75$1,709,836$306,685$93,963$727,364
76$1,813,368$250,841$26,239$716,366
77$1,925,228$190,029$0$704,462
78$2,046,195$123,934$0$702,987
79$2,177,125$52,225$0$708,303
80$2,318,960$0$0$714,087
81$2,472,735$0$0$733,926
82$2,639,588$0$0$785,475
83$2,820,771$0$0$841,548
84$3,017,661$0$0$902,583
85$3,231,773$0$0$969,062
86$3,464,773$0$0$1,041,516
87$3,718,494$0$0$1,120,529
88$3,994,956$0$0$1,206,744
89$4,296,377$0$0$1,300,868
90$4,625,202$0$0$1,403,680
91$4,984,121$0$0$1,516,039
92$5,376,095$0$0$1,638,887
93$5,804,383$0$0$1,773,265
94$6,272,575$0$0$1,920,316
95$6,784,621$0$0$2,081,301
96$7,344,870$0$0$2,257,607
97$7,958,115$0$0$2,450,763
98$8,629,628$0$0$2,662,452
99$9,365,219$0$0$2,894,527
100$10,171,285$0$0$3,149,029