Can I retire at age 59 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$56,980$56,472$55,977$55,494$55,022$54,110
2 years$28,208$27,682$27,173$26,680$26,201$25,285
3 years$18,618$18,091$17,583$17,094$16,623$15,731
4 years$13,825$13,299$12,796$12,315$11,856$10,995
5 years$10,949$10,426$9,930$9,459$9,012$8,186
6 years$9,033$8,514$8,025$7,565$7,131$6,339
7 years$7,664$7,150$6,669$6,219$5,800$5,043
8 years$6,639$6,129$5,656$5,217$4,811$4,089
9 years$5,841$5,336$4,871$4,444$4,052$3,364
10 years$5,204$4,704$4,247$3,831$3,452$2,798
11 years$4,682$4,187$3,739$3,334$2,969$2,348
12 years$4,248$3,758$3,318$2,924$2,573$1,984
13 years$3,881$3,396$2,965$2,582$2,244$1,686
14 years$3,567$3,087$2,664$2,292$1,967$1,440
15 years$3,295$2,820$2,405$2,044$1,732$1,234
16 years$3,057$2,588$2,180$1,830$1,531$1,061
17 years$2,847$2,383$1,984$1,644$1,357$915
18 years$2,661$2,202$1,811$1,482$1,207$791
19 years$2,495$2,041$1,658$1,339$1,075$685
20 years$2,345$1,896$1,522$1,213$961$594
21 years$2,210$1,766$1,400$1,101$860$516
22 years$2,087$1,649$1,290$1,001$771$449
23 years$1,975$1,542$1,191$911$692$391
24 years$1,873$1,445$1,102$831$622$341
25 years$1,779$1,356$1,020$759$559$298
26 years$1,692$1,274$946$694$504$260
27 years$1,612$1,199$879$635$454$227
28 years$1,538$1,130$817$582$410$198
29 years$1,469$1,066$760$534$370$173
30 years$1,405$1,007$708$490$334$152
31 years$1,345$952$660$450$302$133
32 years$1,288$901$616$413$274$116
33 years$1,236$853$575$380$248$102
34 years$1,186$808$537$350$224$89
35 years$1,140$767$502$322$203$78
36 years$1,096$728$470$297$184$68
37 years$1,055$691$440$273$167$60
38 years$1,015$657$412$252$151$52
39 years$978$625$386$232$137$46
40 years$943$594$362$214$124$40
41 years$910$566$339$198$113$35
42 years$878$539$318$182$102$31
43 years$848$513$299$168$93$27
44 years$820$489$280$155$84$24
45 years$793$467$263$144$77$21
46 years$767$445$247$133$69$18
47 years$742$425$232$123$63$16
48 years$718$406$218$113$57$14
49 years$695$387$205$105$52$12
50 years$674$370$193$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $690,000, adding $3,535 every year, while hoping to spend $32,047 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: 44/37/19 Blend
58$690,000$690,000$690,000$690,000
59$764,026$727,456$716,761$793,303
60$807,859$729,004$706,675$815,795
61$855,089$729,553$695,177$836,726
62$906,028$729,022$682,186$858,745
63$961,021$727,321$667,616$881,968
64$1,020,444$724,359$651,380$906,524
65$1,084,711$720,035$633,384$932,559
66$1,154,280$714,245$613,531$960,233
67$1,229,652$706,878$591,719$989,726
68$1,311,376$697,815$567,841$1,021,239
69$1,400,060$686,931$541,788$1,054,995
70$1,496,370$674,095$513,441$1,091,244
71$1,601,039$659,164$482,681$1,130,262
72$1,714,873$641,992$449,379$1,172,358
73$1,838,760$622,419$413,403$1,217,876
74$1,973,677$600,280$374,614$1,267,196
75$2,120,696$575,399$332,869$1,320,743
76$2,281,001$547,587$288,014$1,378,988
77$2,455,893$516,649$239,892$1,442,455
78$2,646,804$482,375$188,339$1,511,724
79$2,855,312$444,544$133,181$1,587,441
80$3,083,150$402,924$74,240$1,670,322
81$3,332,231$357,267$11,326$1,761,160
82$3,604,659$307,313$0$1,860,836
83$3,902,748$252,786$0$1,981,642
84$4,229,051$193,395$0$2,116,530
85$4,586,376$128,833$0$2,264,444
86$4,977,816$58,775$0$2,426,757
87$5,406,777$0$0$2,604,989
88$5,877,011$0$0$2,807,787
89$6,392,648$0$0$3,056,491
90$6,958,241$0$0$3,329,376
91$7,578,801$0$0$3,628,870
92$8,259,848$0$0$3,957,649
93$9,007,465$0$0$4,318,661
94$9,828,350$0$0$4,715,152
95$10,729,881$0$0$5,150,698
96$11,720,189$0$0$5,629,241
97$12,808,228$0$0$6,155,119
98$14,003,863$0$0$6,733,115
99$15,317,962$0$0$7,368,498
100$16,762,499$0$0$8,067,071