Can I retire at age 59 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$57,145$56,636$56,139$55,654$55,181$54,879
2 years$28,289$27,763$27,252$26,757$26,277$25,972
3 years$18,672$18,143$17,634$17,143$16,671$16,373
4 years$13,865$13,337$12,833$12,351$11,890$11,601
5 years$10,981$10,456$9,959$9,487$9,039$8,760
6 years$9,059$8,539$8,048$7,587$7,152$6,883
7 years$7,687$7,171$6,688$6,237$5,816$5,558
8 years$6,658$6,147$5,672$5,232$4,825$4,577
9 years$5,858$5,352$4,885$4,457$4,064$3,826
10 years$5,219$4,717$4,259$3,842$3,462$3,235
11 years$4,696$4,199$3,750$3,344$2,978$2,760
12 years$4,261$3,769$3,328$2,933$2,580$2,373
13 years$3,893$3,406$2,973$2,589$2,250$2,052
14 years$3,577$3,096$2,671$2,298$1,973$1,784
15 years$3,304$2,828$2,412$2,050$1,737$1,557
16 years$3,066$2,595$2,187$1,835$1,535$1,364
17 years$2,856$2,390$1,990$1,649$1,361$1,199
18 years$2,669$2,208$1,816$1,486$1,210$1,057
19 years$2,502$2,047$1,663$1,343$1,079$933
20 years$2,352$1,902$1,526$1,216$963$826
21 years$2,216$1,772$1,404$1,104$862$732
22 years$2,093$1,654$1,294$1,004$773$650
23 years$1,981$1,547$1,195$914$694$578
24 years$1,878$1,449$1,105$834$624$514
25 years$1,784$1,360$1,023$761$561$458
26 years$1,697$1,278$949$696$505$409
27 years$1,617$1,203$881$637$456$365
28 years$1,542$1,133$819$584$411$326
29 years$1,473$1,069$762$535$371$291
30 years$1,409$1,010$710$491$335$260
31 years$1,348$955$662$451$303$233
32 years$1,292$903$618$415$274$208
33 years$1,239$855$577$381$248$187
34 years$1,190$811$539$351$225$167
35 years$1,143$769$504$323$204$150
36 years$1,099$730$471$297$184$134
37 years$1,058$693$441$274$167$120
38 years$1,018$659$413$253$152$108
39 years$981$626$387$233$137$97
40 years$946$596$363$215$125$87
41 years$913$567$340$198$113$78
42 years$881$540$319$183$103$70
43 years$851$515$299$169$93$63
44 years$822$491$281$156$85$56
45 years$795$468$264$144$77$51
46 years$769$446$248$133$70$45
47 years$744$426$233$123$63$41
48 years$720$407$219$114$57$37
49 years$697$388$206$105$52$33
50 years$676$371$193$97$47$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $692,000, adding $3,526 every year, while hoping to spend $30,897 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: 37/35/28 Blend
58$692,000$692,000$692,000$692,000
59$766,221$729,545$718,819$788,050
60$811,501$732,419$710,025$807,369
61$860,365$734,397$699,901$825,156
62$913,144$735,405$688,370$843,778
63$970,205$735,360$675,351$863,331
64$1,031,950$734,177$660,759$883,923
65$1,098,820$731,763$644,506$905,674
66$1,171,302$728,022$626,499$928,721
67$1,249,930$722,850$606,642$953,216
68$1,335,291$716,137$584,833$979,328
69$1,428,032$707,769$560,966$1,007,249
70$1,528,864$697,622$534,931$1,037,190
71$1,638,568$685,566$506,611$1,069,390
72$1,758,006$671,462$475,886$1,104,114
73$1,888,124$655,165$442,629$1,141,657
74$2,029,964$636,520$406,709$1,182,351
75$2,184,673$615,362$367,986$1,226,561
76$2,353,513$591,519$326,318$1,274,698
77$2,537,875$564,806$281,552$1,327,217
78$2,739,286$535,030$233,533$1,384,625
79$2,959,432$501,985$182,095$1,447,486
80$3,200,167$465,455$127,067$1,516,427
81$3,463,530$425,209$68,271$1,592,144
82$3,751,771$381,004$5,518$1,675,410
83$4,067,363$332,585$0$1,767,083
84$4,413,032$279,680$0$1,886,476
85$4,791,780$222,003$0$2,019,240
86$5,206,911$159,251$0$2,164,960
87$5,662,067$91,105$0$2,325,004
88$6,161,256$17,227$0$2,500,880
89$6,708,895$0$0$2,694,260
90$7,309,847$0$0$2,931,149
91$7,969,471$0$0$3,198,549
92$8,693,668$0$0$3,492,229
93$9,488,939$0$0$3,814,838
94$10,362,446$0$0$4,169,296
95$11,322,079$0$0$4,558,816
96$12,376,528$0$0$4,986,941
97$13,535,368$0$0$5,457,573
98$14,809,147$0$0$5,975,012
99$16,209,487$0$0$6,543,993
100$17,749,190$0$0$7,169,736