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%
1 years$57,227$56,718$56,220$55,735$55,261$54,345
2 years$28,330$27,803$27,291$26,796$26,315$25,395
3 years$18,699$18,169$17,659$17,168$16,695$15,800
4 years$13,885$13,356$12,851$12,369$11,907$11,043
5 years$10,997$10,472$9,973$9,500$9,052$8,222
6 years$9,072$8,551$8,060$7,598$7,162$6,367
7 years$7,698$7,181$6,698$6,246$5,825$5,065
8 years$6,668$6,155$5,680$5,240$4,832$4,107
9 years$5,867$5,359$4,892$4,463$4,069$3,379
10 years$5,226$4,724$4,265$3,847$3,467$2,810
11 years$4,703$4,206$3,755$3,348$2,982$2,358
12 years$4,267$3,775$3,333$2,937$2,584$1,993
13 years$3,898$3,411$2,977$2,593$2,253$1,694
14 years$3,583$3,101$2,675$2,302$1,975$1,446
15 years$3,309$2,833$2,415$2,053$1,739$1,240
16 years$3,070$2,599$2,190$1,838$1,537$1,066
17 years$2,860$2,393$1,993$1,651$1,363$919
18 years$2,673$2,212$1,819$1,488$1,212$795
19 years$2,506$2,050$1,665$1,345$1,080$688
20 years$2,355$1,905$1,528$1,218$965$597
21 years$2,220$1,774$1,406$1,105$863$519
22 years$2,096$1,656$1,296$1,005$774$451
23 years$1,984$1,549$1,196$915$695$393
24 years$1,881$1,451$1,106$835$624$343
25 years$1,787$1,362$1,025$762$562$299
26 years$1,700$1,280$950$697$506$261
27 years$1,619$1,205$882$638$456$228
28 years$1,545$1,135$820$585$412$199
29 years$1,475$1,071$763$536$372$174
30 years$1,411$1,011$711$492$336$152
31 years$1,350$956$663$452$304$133
32 years$1,294$905$619$415$275$117
33 years$1,241$857$578$382$249$102
34 years$1,191$812$540$351$225$89
35 years$1,145$770$505$323$204$78
36 years$1,101$731$472$298$185$69
37 years$1,059$694$442$274$167$60
38 years$1,020$660$414$253$152$53
39 years$983$627$388$233$138$46
40 years$947$597$363$215$125$40
41 years$914$568$341$198$113$35
42 years$882$541$320$183$103$31
43 years$852$516$300$169$93$27
44 years$823$491$281$156$85$24
45 years$796$469$264$144$77$21
46 years$770$447$248$133$70$18
47 years$745$427$233$123$63$16
48 years$721$407$219$114$58$14
49 years$698$389$206$105$52$12
50 years$677$372$194$97$47$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $693,000, adding $3,844 every year, while hoping to spend $53,702 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: 41/38/21 Blend
58$693,000$693,000$693,000$693,000
59$767,651$730,922$720,181$794,237
60$788,813$709,599$687,168$792,257
61$810,334$685,431$651,250$784,672
62$832,193$658,222$612,272$775,368
63$854,366$627,765$570,073$764,217
64$876,826$593,840$524,485$751,080
65$899,540$556,215$475,332$735,814
66$922,468$514,645$422,431$718,264
67$945,567$468,870$365,590$698,263
68$968,786$418,616$304,608$675,637
69$992,066$363,592$239,277$650,199
70$1,015,342$303,493$169,378$621,749
71$1,038,538$237,995$94,683$590,074
72$1,061,568$166,756$14,954$554,949
73$1,084,335$89,414$0$516,132
74$1,106,731$5,590$0$489,079
75$1,128,633$0$0$462,401
76$1,149,904$0$0$468,102
77$1,170,387$0$0$475,737
78$1,189,910$0$0$482,886
79$1,208,279$0$0$489,461
80$1,225,278$0$0$495,363
81$1,240,663$0$0$500,480
82$1,254,165$0$0$504,688
83$1,265,484$0$0$507,850
84$1,274,284$0$0$509,812
85$1,280,193$0$0$510,405
86$1,282,797$0$0$509,439
87$1,281,635$0$0$506,704
88$1,276,196$0$0$501,968
89$1,265,913$0$0$494,970
90$1,250,157$0$0$485,426
91$1,228,230$0$0$473,017
92$1,199,360$0$0$457,393
93$1,162,688$0$0$438,162
94$1,117,268$0$0$414,894
95$1,062,048$0$0$387,113
96$995,866$0$0$354,289
97$917,437$0$0$315,840
98$825,338$0$0$271,119
99$717,996$0$0$219,414
100$593,672$0$0$159,935