Can I retire at age 59 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$57,062$56,554$56,058$55,574$55,101$52,957
2 years$28,249$27,722$27,213$26,718$26,239$24,104
3 years$18,645$18,117$17,608$17,119$16,647$14,589
4 years$13,845$13,318$12,814$12,333$11,873$9,908
5 years$10,965$10,441$9,944$9,473$9,025$7,158
6 years$9,046$8,526$8,037$7,576$7,142$5,374
7 years$7,676$7,160$6,678$6,228$5,808$4,138
8 years$6,648$6,138$5,664$5,225$4,818$3,245
9 years$5,850$5,344$4,878$4,450$4,058$2,579
10 years$5,211$4,710$4,253$3,836$3,457$2,070
11 years$4,689$4,193$3,744$3,339$2,973$1,675
12 years$4,255$3,764$3,323$2,928$2,577$1,363
13 years$3,887$3,401$2,969$2,585$2,247$1,115
14 years$3,572$3,092$2,668$2,295$1,970$915
15 years$3,300$2,824$2,408$2,047$1,734$754
16 years$3,061$2,591$2,184$1,833$1,533$622
17 years$2,851$2,386$1,987$1,647$1,359$515
18 years$2,665$2,205$1,814$1,484$1,208$427
19 years$2,498$2,044$1,660$1,341$1,077$354
20 years$2,348$1,899$1,524$1,214$962$294
21 years$2,213$1,769$1,402$1,102$861$245
22 years$2,090$1,651$1,292$1,002$772$204
23 years$1,978$1,544$1,193$913$693$170
24 years$1,876$1,447$1,103$832$623$141
25 years$1,782$1,358$1,022$760$560$118
26 years$1,695$1,276$948$695$505$98
27 years$1,614$1,201$880$636$455$82
28 years$1,540$1,132$818$583$411$68
29 years$1,471$1,068$761$535$371$57
30 years$1,407$1,008$709$491$335$48
31 years$1,346$953$661$451$303$40
32 years$1,290$902$617$414$274$33
33 years$1,237$854$576$381$248$28
34 years$1,188$810$538$350$224$23
35 years$1,141$768$503$323$203$19
36 years$1,097$729$471$297$184$16
37 years$1,056$692$440$274$167$13
38 years$1,017$658$412$252$151$11
39 years$980$626$386$233$137$9
40 years$945$595$362$215$124$8
41 years$911$567$340$198$113$7
42 years$880$540$319$183$102$5
43 years$850$514$299$169$93$5
44 years$821$490$281$156$84$4
45 years$794$467$264$144$77$3
46 years$768$446$247$133$70$3
47 years$743$425$233$123$63$2
48 years$719$406$218$113$57$2
49 years$696$388$205$105$52$2
50 years$675$370$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $691,000, adding $6,325 every year, while hoping to spend $32,375 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: 56/19/25 Blend
58$691,000$691,000$691,000$691,000
59$768,006$731,383$720,673$805,440
60$811,896$732,774$710,369$833,205
61$859,178$733,148$698,634$859,507
62$910,163$732,422$685,387$887,487
63$965,194$730,505$670,542$917,317
64$1,024,647$727,303$654,009$949,186
65$1,088,936$722,716$635,693$983,305
66$1,158,516$716,637$615,497$1,019,909
67$1,233,885$708,953$593,317$1,059,257
68$1,315,595$699,545$569,046$1,101,636
69$1,404,248$688,285$542,572$1,147,365
70$1,500,509$675,039$513,776$1,196,796
71$1,605,109$659,664$482,535$1,250,322
72$1,718,852$642,009$448,722$1,308,374
73$1,842,623$621,916$412,202$1,371,432
74$1,977,394$599,213$372,835$1,440,027
75$2,124,237$573,723$330,473$1,514,747
76$2,284,330$545,257$284,965$1,596,241
77$2,458,970$513,613$236,150$1,685,229
78$2,649,585$478,580$183,861$1,782,506
79$2,857,747$439,935$127,925$1,888,954
80$3,085,185$397,439$68,158$2,005,545
81$3,333,804$350,844$4,372$2,133,356
82$3,605,702$299,885$0$2,273,578
83$3,903,185$244,282$0$2,444,517
84$4,228,798$183,739$0$2,632,986
85$4,585,340$117,946$0$2,839,482
86$4,975,892$46,574$0$3,065,842
87$5,403,851$0$0$3,314,091
88$5,872,954$0$0$3,592,887
89$6,387,320$0$0$3,909,323
90$6,951,485$0$0$4,256,458
91$7,570,442$0$0$4,637,376
92$8,249,696$0$0$5,055,471
93$8,995,306$0$0$5,514,481
94$9,813,948$0$0$6,018,525
95$10,712,978$0$0$6,572,142
96$11,700,495$0$0$7,180,328
97$12,785,426$0$0$7,848,592
98$13,977,601$0$0$8,582,998
99$15,287,852$0$0$9,390,230
100$16,728,111$0$0$10,277,650