Can I retire at age 59 with 689,000?

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 $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%19%
1 years$56,897$56,390$55,896$55,413$54,942$52,950
2 years$28,167$27,642$27,134$26,641$26,163$24,178
3 years$18,591$18,065$17,557$17,069$16,599$14,684
4 years$13,805$13,279$12,777$12,297$11,838$10,007
5 years$10,933$10,411$9,916$9,446$8,999$7,257
6 years$9,020$8,501$8,013$7,554$7,121$5,468
7 years$7,653$7,140$6,659$6,210$5,791$4,228
8 years$6,629$6,120$5,647$5,210$4,804$3,330
9 years$5,833$5,328$4,864$4,437$4,046$2,658
10 years$5,196$4,697$4,241$3,825$3,447$2,143
11 years$4,676$4,181$3,733$3,329$2,965$1,742
12 years$4,242$3,753$3,313$2,920$2,569$1,424
13 years$3,876$3,392$2,960$2,578$2,240$1,170
14 years$3,562$3,083$2,660$2,288$1,964$966
15 years$3,290$2,816$2,401$2,041$1,729$799
16 years$3,053$2,584$2,177$1,827$1,528$663
17 years$2,843$2,380$1,981$1,642$1,355$551
18 years$2,657$2,199$1,809$1,480$1,205$459
19 years$2,491$2,038$1,656$1,337$1,074$383
20 years$2,342$1,894$1,519$1,211$959$320
21 years$2,207$1,764$1,398$1,099$858$268
22 years$2,084$1,647$1,288$999$769$224
23 years$1,973$1,540$1,189$910$691$188
24 years$1,870$1,443$1,100$830$621$157
25 years$1,776$1,354$1,019$758$559$132
26 years$1,690$1,273$945$693$503$110
27 years$1,610$1,198$877$634$454$93
28 years$1,536$1,129$816$581$409$78
29 years$1,467$1,065$759$533$370$65
30 years$1,403$1,005$707$489$334$55
31 years$1,343$950$659$449$302$46
32 years$1,286$899$615$413$273$39
33 years$1,234$852$574$380$247$32
34 years$1,185$807$537$349$224$27
35 years$1,138$766$502$322$203$23
36 years$1,094$727$469$296$184$19
37 years$1,053$690$439$273$166$16
38 years$1,014$656$411$252$151$14
39 years$977$624$385$232$137$11
40 years$942$593$361$214$124$10
41 years$909$565$339$197$113$8
42 years$877$538$318$182$102$7
43 years$847$513$298$168$93$6
44 years$819$489$280$155$84$5
45 years$791$466$263$143$76$4
46 years$765$444$247$132$69$3
47 years$741$424$232$122$63$3
48 years$717$405$218$113$57$2
49 years$694$387$205$104$52$2
50 years$673$369$193$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $689,000, adding $3,532 every year, while hoping to spend $54,446 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: 54/34/12 Blend
58$689,000$689,000$689,000$689,000
59$762,921$726,404$715,725$801,567
60$782,809$704,068$681,771$805,889
61$802,901$678,812$644,856$804,397
62$823,159$650,437$604,821$801,510
63$843,543$618,730$561,504$797,106
64$864,003$583,466$514,733$791,055
65$884,484$544,408$464,329$783,218
66$904,923$501,306$410,106$773,445
67$925,249$453,894$351,868$761,574
68$945,381$401,891$289,412$747,433
69$965,227$345,002$222,526$730,835
70$984,686$282,912$150,986$711,580
71$1,003,641$215,292$74,561$689,453
72$1,021,963$141,792$0$664,222
73$1,039,506$62,043$0$636,534
74$1,056,108$0$0$615,470
75$1,071,586$0$0$600,327
76$1,085,737$0$0$607,572
77$1,098,334$0$0$613,854
78$1,109,124$0$0$619,024
79$1,117,826$0$0$622,911
80$1,124,126$0$0$625,328
81$1,127,676$0$0$626,066
82$1,128,088$0$0$624,894
83$1,124,931$0$0$621,554
84$1,117,728$0$0$615,760
85$1,105,950$0$0$607,195
86$1,089,007$0$0$595,509
87$1,066,250$0$0$580,311
88$1,036,955$0$0$561,171
89$1,000,324$0$0$537,612
90$955,471$0$0$509,104
91$901,416$0$0$475,064
92$837,074$0$0$434,843
93$761,247$0$0$387,726
94$672,607$0$0$332,922
95$569,688$0$0$269,556
96$450,868$0$0$196,661
97$314,355$0$0$113,168
98$158,169$0$0$17,897
99$0$0$0$0
100$0$0$0$0