Can I retire at age 59 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$57,227$56,718$56,220$55,735$55,261$54,234
2 years$28,330$27,803$27,291$26,796$26,315$25,284
3 years$18,699$18,169$17,659$17,168$16,695$15,693
4 years$13,885$13,356$12,851$12,369$11,907$10,941
5 years$10,997$10,472$9,973$9,500$9,052$8,124
6 years$9,072$8,551$8,060$7,598$7,162$6,274
7 years$7,698$7,181$6,698$6,246$5,825$4,977
8 years$6,668$6,155$5,680$5,240$4,832$4,024
9 years$5,867$5,359$4,892$4,463$4,069$3,301
10 years$5,226$4,724$4,265$3,847$3,467$2,737
11 years$4,703$4,206$3,755$3,348$2,982$2,290
12 years$4,267$3,775$3,333$2,937$2,584$1,929
13 years$3,898$3,411$2,977$2,593$2,253$1,634
14 years$3,583$3,101$2,675$2,302$1,975$1,390
15 years$3,309$2,833$2,415$2,053$1,739$1,187
16 years$3,070$2,599$2,190$1,838$1,537$1,018
17 years$2,860$2,393$1,993$1,651$1,363$874
18 years$2,673$2,212$1,819$1,488$1,212$753
19 years$2,506$2,050$1,665$1,345$1,080$650
20 years$2,355$1,905$1,528$1,218$965$562
21 years$2,220$1,774$1,406$1,105$863$486
22 years$2,096$1,656$1,296$1,005$774$421
23 years$1,984$1,549$1,196$915$695$365
24 years$1,881$1,451$1,106$835$624$317
25 years$1,787$1,362$1,025$762$562$276
26 years$1,700$1,280$950$697$506$240
27 years$1,619$1,205$882$638$456$209
28 years$1,545$1,135$820$585$412$182
29 years$1,475$1,071$763$536$372$158
30 years$1,411$1,011$711$492$336$138
31 years$1,350$956$663$452$304$120
32 years$1,294$905$619$415$275$105
33 years$1,241$857$578$382$249$91
34 years$1,191$812$540$351$225$80
35 years$1,145$770$505$323$204$69
36 years$1,101$731$472$298$185$61
37 years$1,059$694$442$274$167$53
38 years$1,020$660$414$253$152$46
39 years$983$627$388$233$138$40
40 years$947$597$363$215$125$35
41 years$914$568$341$198$113$31
42 years$882$541$320$183$103$27
43 years$852$516$300$169$93$23
44 years$823$491$281$156$85$20
45 years$796$469$264$144$77$18
46 years$770$447$248$133$70$16
47 years$745$427$233$123$63$14
48 years$721$407$219$114$58$12
49 years$698$389$206$105$52$10
50 years$677$372$194$97$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $693,000, adding $5,476 every year, while hoping to spend $37,734 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: 68/12/20 Blend
58$693,000$693,000$693,000$693,000
59$769,334$732,605$721,864$817,475
60$807,658$728,354$705,898$846,111
61$848,626$722,630$688,132$872,521
62$892,468$715,321$668,466$900,497
63$939,436$706,309$646,797$930,189
64$989,807$695,466$623,013$961,768
65$1,043,884$682,661$597,001$995,420
66$1,102,000$667,751$568,640$1,031,352
67$1,164,521$650,588$537,806$1,069,793
68$1,231,847$631,012$504,368$1,110,998
69$1,304,420$608,856$468,189$1,155,246
70$1,382,723$583,942$429,126$1,202,850
71$1,467,289$556,084$387,029$1,254,154
72$1,558,702$525,081$341,744$1,309,537
73$1,657,603$490,724$293,107$1,369,423
74$1,764,701$452,791$240,947$1,434,276
75$1,880,769$411,047$185,088$1,504,612
76$2,006,663$365,244$125,344$1,581,002
77$2,143,321$315,119$61,521$1,664,076
78$2,291,775$260,395$0$1,754,532
79$2,453,162$200,780$0$1,854,546
80$2,628,730$135,964$0$1,977,666
81$2,819,854$65,620$0$2,111,739
82$3,028,047$0$0$2,257,854
83$3,254,974$0$0$2,418,611
84$3,502,467$0$0$2,603,426
85$3,772,541$0$0$2,805,141
86$4,067,417$0$0$3,025,421
87$4,389,538$0$0$3,266,096
88$4,741,593$0$0$3,529,180
89$5,126,545$0$0$3,816,891
90$5,547,652$0$0$4,131,673
91$6,008,506$0$0$4,476,215
92$6,513,059$0$0$4,853,478
93$7,065,664$0$0$5,266,723
94$7,671,116$0$0$5,719,542
95$8,334,694$0$0$6,215,891
96$9,062,212$0$0$6,760,126
97$9,860,075$0$0$7,357,044
98$10,735,335$0$0$8,011,930
99$11,695,762$0$0$8,730,606
100$12,749,913$0$0$9,519,482