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%17.1%
1 years$57,145$56,636$56,139$55,654$55,181$53,586
2 years$28,289$27,763$27,252$26,757$26,277$24,683
3 years$18,672$18,143$17,634$17,143$16,671$15,128
4 years$13,865$13,337$12,833$12,351$11,890$10,409
5 years$10,981$10,456$9,959$9,487$9,039$7,624
6 years$9,059$8,539$8,048$7,587$7,152$5,806
7 years$7,687$7,171$6,688$6,237$5,816$4,538
8 years$6,658$6,147$5,672$5,232$4,825$3,614
9 years$5,858$5,352$4,885$4,457$4,064$2,918
10 years$5,219$4,717$4,259$3,842$3,462$2,381
11 years$4,696$4,199$3,750$3,344$2,978$1,959
12 years$4,261$3,769$3,328$2,933$2,580$1,622
13 years$3,893$3,406$2,973$2,589$2,250$1,351
14 years$3,577$3,096$2,671$2,298$1,973$1,129
15 years$3,304$2,828$2,412$2,050$1,737$947
16 years$3,066$2,595$2,187$1,835$1,535$797
17 years$2,856$2,390$1,990$1,649$1,361$672
18 years$2,669$2,208$1,816$1,486$1,210$568
19 years$2,502$2,047$1,663$1,343$1,079$480
20 years$2,352$1,902$1,526$1,216$963$407
21 years$2,216$1,772$1,404$1,104$862$345
22 years$2,093$1,654$1,294$1,004$773$293
23 years$1,981$1,547$1,195$914$694$249
24 years$1,878$1,449$1,105$834$624$212
25 years$1,784$1,360$1,023$761$561$181
26 years$1,697$1,278$949$696$505$154
27 years$1,617$1,203$881$637$456$131
28 years$1,542$1,133$819$584$411$112
29 years$1,473$1,069$762$535$371$95
30 years$1,409$1,010$710$491$335$81
31 years$1,348$955$662$451$303$69
32 years$1,292$903$618$415$274$59
33 years$1,239$855$577$381$248$50
34 years$1,190$811$539$351$225$43
35 years$1,143$769$504$323$204$37
36 years$1,099$730$471$297$184$31
37 years$1,058$693$441$274$167$27
38 years$1,018$659$413$253$152$23
39 years$981$626$387$233$137$19
40 years$946$596$363$215$125$17
41 years$913$567$340$198$113$14
42 years$881$540$319$183$103$12
43 years$851$515$299$169$93$10
44 years$822$491$281$156$85$9
45 years$795$468$264$144$77$8
46 years$769$446$248$133$70$6
47 years$744$426$233$123$63$5
48 years$720$407$219$114$57$5
49 years$697$388$206$105$52$4
50 years$676$371$193$97$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $692,000, adding $6,601 every year, while hoping to spend $47,172 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: 60/21/19 Blend
58$692,000$692,000$692,000$692,000
59$769,393$732,717$721,991$811,376
60$797,680$718,429$695,987$826,264
61$827,272$701,861$667,531$836,716
62$858,251$682,850$636,491$847,043
63$890,708$661,225$602,729$857,241
64$924,741$636,805$566,100$867,306
65$960,455$609,399$526,455$877,238
66$997,965$578,803$483,635$887,035
67$1,037,398$544,804$437,477$896,703
68$1,078,888$507,175$387,808$906,246
69$1,122,584$465,676$334,449$915,676
70$1,168,646$420,053$277,212$925,006
71$1,217,251$370,039$215,902$934,255
72$1,268,591$315,351$150,314$943,447
73$1,322,873$255,689$80,235$952,612
74$1,380,325$190,737$5,443$961,789
75$1,441,197$120,162$0$971,023
76$1,505,761$43,611$0$995,446
77$1,574,313$0$0$1,022,204
78$1,647,179$0$0$1,059,397
79$1,724,714$0$0$1,109,727
80$1,807,308$0$0$1,163,373
81$1,895,387$0$0$1,220,614
82$1,989,417$0$0$1,281,760
83$2,089,910$0$0$1,347,146
84$2,197,427$0$0$1,417,144
85$2,312,583$0$0$1,492,157
86$2,436,052$0$0$1,572,632
87$2,568,574$0$0$1,659,055
88$2,710,960$0$0$1,751,964
89$2,864,102$0$0$1,851,945
90$3,028,978$0$0$1,959,644
91$3,206,663$0$0$2,075,771
92$3,398,337$0$0$2,201,105
93$3,605,295$0$0$2,336,501
94$3,828,965$0$0$2,482,900
95$4,070,910$0$0$2,641,337
96$4,332,852$0$0$2,812,947
97$4,616,684$0$0$2,998,981
98$4,924,486$0$0$3,200,812
99$5,258,546$0$0$3,419,952
100$5,621,380$0$0$3,658,062