Can I retire at age 59 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$57,310$56,799$56,301$55,815$55,341$55,015
2 years$28,371$27,843$27,331$26,834$26,353$26,024
3 years$18,726$18,196$17,685$17,193$16,719$16,398
4 years$13,905$13,376$12,870$12,387$11,924$11,613
5 years$11,013$10,487$9,988$9,514$9,065$8,764
6 years$9,085$8,563$8,072$7,608$7,173$6,883
7 years$7,709$7,191$6,707$6,255$5,833$5,555
8 years$6,677$6,164$5,688$5,247$4,839$4,572
9 years$5,875$5,367$4,899$4,470$4,075$3,819
10 years$5,234$4,731$4,271$3,853$3,472$3,227
11 years$4,710$4,212$3,761$3,353$2,986$2,752
12 years$4,273$3,780$3,337$2,941$2,588$2,364
13 years$3,904$3,416$2,982$2,597$2,257$2,043
14 years$3,588$3,105$2,679$2,305$1,978$1,775
15 years$3,314$2,837$2,419$2,056$1,742$1,549
16 years$3,075$2,603$2,193$1,841$1,539$1,356
17 years$2,864$2,397$1,996$1,654$1,365$1,191
18 years$2,676$2,215$1,822$1,490$1,214$1,049
19 years$2,509$2,053$1,668$1,347$1,082$925
20 years$2,359$1,907$1,531$1,220$966$818
21 years$2,223$1,777$1,408$1,107$865$725
22 years$2,099$1,658$1,297$1,006$775$643
23 years$1,987$1,551$1,198$917$696$571
24 years$1,884$1,453$1,108$836$625$508
25 years$1,789$1,364$1,026$763$563$452
26 years$1,702$1,282$952$698$507$403
27 years$1,621$1,206$884$639$457$359
28 years$1,547$1,137$822$585$412$321
29 years$1,477$1,072$765$537$372$286
30 years$1,413$1,013$712$493$336$256
31 years$1,352$957$664$453$304$229
32 years$1,296$906$619$416$275$205
33 years$1,243$858$578$382$249$183
34 years$1,193$813$540$352$225$164
35 years$1,146$771$505$324$204$147
36 years$1,102$732$473$298$185$131
37 years$1,061$695$442$275$168$118
38 years$1,021$661$414$253$152$105
39 years$984$628$388$234$138$94
40 years$949$598$364$215$125$85
41 years$915$569$341$199$113$76
42 years$884$542$320$183$103$68
43 years$853$516$300$169$93$61
44 years$825$492$282$156$85$55
45 years$797$469$265$144$77$49
46 years$771$448$249$133$70$44
47 years$746$427$234$123$63$39
48 years$722$408$219$114$58$35
49 years$699$389$206$105$52$32
50 years$678$372$194$97$48$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $694,000, adding $5,386 every year, while hoping to spend $47,578 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: 62/31/7 Blend
58$694,000$694,000$694,000$694,000
59$770,344$733,562$722,805$816,719
60$798,296$718,884$696,396$833,671
61$827,505$701,892$667,508$846,141
62$858,048$682,422$636,007$858,533
63$890,011$660,302$601,755$870,836
64$923,483$635,348$564,605$883,045
65$958,564$607,366$524,405$895,152
66$995,362$576,151$480,997$907,152
67$1,033,992$541,485$434,213$919,044
68$1,074,580$503,140$383,881$930,825
69$1,117,266$460,872$329,819$942,498
70$1,162,197$414,425$271,838$954,068
71$1,209,537$363,528$209,741$965,545
72$1,259,463$307,893$143,320$976,940
73$1,312,167$247,219$72,360$988,273
74$1,367,861$181,186$0$999,566
75$1,426,773$109,455$0$1,011,102
76$1,489,156$31,670$0$1,028,451
77$1,555,283$0$0$1,046,267
78$1,625,453$0$0$1,082,551
79$1,699,993$0$0$1,132,597
80$1,779,262$0$0$1,185,846
81$1,863,652$0$0$1,242,565
82$1,953,590$0$0$1,303,046
83$2,049,548$0$0$1,367,609
84$2,152,039$0$0$1,436,604
85$2,261,627$0$0$1,510,416
86$2,378,931$0$0$1,589,466
87$2,504,628$0$0$1,674,216
88$2,639,462$0$0$1,765,173
89$2,784,250$0$0$1,862,894
90$2,939,886$0$0$1,967,989
91$3,107,353$0$0$2,081,129
92$3,287,732$0$0$2,203,049
93$3,482,207$0$0$2,334,560
94$3,692,081$0$0$2,476,549
95$3,918,785$0$0$2,629,992
96$4,163,891$0$0$2,795,963
97$4,429,128$0$0$2,975,640
98$4,716,395$0$0$3,170,322
99$5,027,782$0$0$3,381,432
100$5,365,585$0$0$3,610,540