Can I retire at age 59 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$56,897$56,390$55,896$55,413$54,942$53,419
2 years$28,167$27,642$27,134$26,641$26,163$24,640
3 years$18,591$18,065$17,557$17,069$16,599$15,123
4 years$13,805$13,279$12,777$12,297$11,838$10,422
5 years$10,933$10,411$9,916$9,446$8,999$7,646
6 years$9,020$8,501$8,013$7,554$7,121$5,831
7 years$7,653$7,140$6,659$6,210$5,791$4,566
8 years$6,629$6,120$5,647$5,210$4,804$3,643
9 years$5,833$5,328$4,864$4,437$4,046$2,947
10 years$5,196$4,697$4,241$3,825$3,447$2,409
11 years$4,676$4,181$3,733$3,329$2,965$1,986
12 years$4,242$3,753$3,313$2,920$2,569$1,648
13 years$3,876$3,392$2,960$2,578$2,240$1,374
14 years$3,562$3,083$2,660$2,288$1,964$1,151
15 years$3,290$2,816$2,401$2,041$1,729$968
16 years$3,053$2,584$2,177$1,827$1,528$816
17 years$2,843$2,380$1,981$1,642$1,355$690
18 years$2,657$2,199$1,809$1,480$1,205$584
19 years$2,491$2,038$1,656$1,337$1,074$495
20 years$2,342$1,894$1,519$1,211$959$421
21 years$2,207$1,764$1,398$1,099$858$358
22 years$2,084$1,647$1,288$999$769$305
23 years$1,973$1,540$1,189$910$691$260
24 years$1,870$1,443$1,100$830$621$221
25 years$1,776$1,354$1,019$758$559$189
26 years$1,690$1,273$945$693$503$161
27 years$1,610$1,198$877$634$454$138
28 years$1,536$1,129$816$581$409$118
29 years$1,467$1,065$759$533$370$100
30 years$1,403$1,005$707$489$334$86
31 years$1,343$950$659$449$302$73
32 years$1,286$899$615$413$273$63
33 years$1,234$852$574$380$247$54
34 years$1,185$807$537$349$224$46
35 years$1,138$766$502$322$203$39
36 years$1,094$727$469$296$184$34
37 years$1,053$690$439$273$166$29
38 years$1,014$656$411$252$151$25
39 years$977$624$385$232$137$21
40 years$942$593$361$214$124$18
41 years$909$565$339$197$113$15
42 years$877$538$318$182$102$13
43 years$847$513$298$168$93$11
44 years$819$489$280$155$84$10
45 years$791$466$263$143$76$8
46 years$765$444$247$132$69$7
47 years$741$424$232$122$63$6
48 years$717$405$218$113$57$5
49 years$694$387$205$104$52$4
50 years$673$369$193$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $689,000, adding $3,442 every year, while hoping to spend $33,602 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: 35/36/29 Blend
58$689,000$689,000$689,000$689,000
59$762,828$726,311$715,632$782,769
60$804,885$726,148$703,853$797,876
61$850,104$724,851$690,554$810,913
62$898,775$722,329$675,647$824,338
63$951,212$718,485$659,043$838,210
64$1,007,761$713,216$640,647$852,596
65$1,068,803$706,414$620,359$867,571
66$1,134,756$697,964$598,077$883,223
67$1,206,081$687,743$573,691$899,649
68$1,283,281$675,622$547,090$916,963
69$1,366,912$661,464$518,153$935,292
70$1,457,584$645,124$486,759$954,778
71$1,555,970$626,447$452,778$975,584
72$1,662,806$605,270$416,073$997,893
73$1,778,907$581,422$376,506$1,021,911
74$1,905,163$554,720$333,927$1,047,869
75$2,042,560$524,972$288,184$1,076,028
76$2,192,178$491,972$239,114$1,106,680
77$2,355,207$455,505$186,551$1,140,152
78$2,532,956$415,344$130,320$1,176,810
79$2,726,869$371,246$70,236$1,217,065
80$2,938,530$322,958$6,109$1,261,376
81$3,169,686$270,209$0$1,310,253
82$3,422,260$212,715$0$1,383,556
83$3,698,369$150,177$0$1,465,906
84$4,000,342$82,275$0$1,556,191
85$4,330,746$8,676$0$1,655,273
86$4,692,406$0$0$1,764,107
87$5,088,433$0$0$1,911,868
88$5,522,253$0$0$2,077,594
89$5,997,638$0$0$2,259,302
90$6,518,745$0$0$2,458,592
91$7,090,148$0$0$2,677,228
92$7,716,890$0$0$2,917,153
93$8,404,521$0$0$3,180,506
94$9,159,156$0$0$3,469,643
95$9,987,531$0$0$3,787,162
96$10,897,066$0$0$4,135,921
97$11,895,934$0$0$4,519,071
98$12,993,138$0$0$4,940,083
99$14,198,598$0$0$5,402,781
100$15,523,239$0$0$5,911,376