Can I retire at age 59 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$57,392$56,881$56,382$55,896$55,420$53,200
2 years$28,412$27,883$27,370$26,873$26,391$24,182
3 years$18,753$18,222$17,710$17,218$16,743$14,615
4 years$13,925$13,395$12,889$12,404$11,941$9,911
5 years$11,028$10,502$10,002$9,528$9,078$7,149
6 years$9,098$8,576$8,083$7,619$7,183$5,358
7 years$7,720$7,202$6,717$6,264$5,842$4,119
8 years$6,687$6,173$5,697$5,255$4,846$3,224
9 years$5,884$5,375$4,907$4,476$4,081$2,558
10 years$5,241$4,738$4,278$3,858$3,477$2,049
11 years$4,716$4,218$3,766$3,358$2,991$1,655
12 years$4,279$3,786$3,342$2,945$2,592$1,344
13 years$3,909$3,421$2,986$2,600$2,260$1,097
14 years$3,593$3,110$2,683$2,308$1,981$899
15 years$3,319$2,841$2,422$2,059$1,744$739
16 years$3,079$2,606$2,196$1,843$1,542$608
17 years$2,868$2,400$1,998$1,656$1,367$502
18 years$2,680$2,218$1,824$1,493$1,215$415
19 years$2,513$2,056$1,670$1,349$1,083$344
20 years$2,362$1,910$1,533$1,221$968$285
21 years$2,226$1,779$1,410$1,109$866$236
22 years$2,102$1,661$1,299$1,008$776$196
23 years$1,990$1,553$1,200$918$697$163
24 years$1,887$1,455$1,110$837$626$136
25 years$1,792$1,366$1,028$765$564$113
26 years$1,705$1,284$953$699$508$94
27 years$1,624$1,208$885$640$458$78
28 years$1,549$1,138$823$586$413$65
29 years$1,479$1,074$766$538$373$54
30 years$1,415$1,014$713$493$337$45
31 years$1,354$959$665$453$305$37
32 years$1,298$907$620$416$276$31
33 years$1,245$859$579$383$249$26
34 years$1,195$814$541$352$226$22
35 years$1,148$772$506$324$204$18
36 years$1,104$733$473$299$185$15
37 years$1,062$696$443$275$168$13
38 years$1,023$662$415$254$152$10
39 years$985$629$389$234$138$9
40 years$950$599$364$216$125$7
41 years$917$570$342$199$114$6
42 years$885$543$320$184$103$5
43 years$855$517$301$170$94$4
44 years$826$493$282$157$85$3
45 years$798$470$265$145$77$3
46 years$772$448$249$134$70$2
47 years$747$428$234$123$64$2
48 years$723$408$220$114$58$2
49 years$700$390$207$105$52$1
50 years$679$373$194$97$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $695,000, adding $3,735 every year, while hoping to spend $23,808 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: 58/16/26 Blend
58$695,000$695,000$695,000$695,000
59$769,743$732,908$722,135$808,753
60$822,925$743,489$720,995$846,424
61$880,734$753,790$719,019$884,632
62$943,616$763,773$716,154$925,792
63$1,012,063$773,397$712,343$970,196
64$1,086,616$782,616$707,529$1,018,167
65$1,167,871$791,383$701,651$1,070,062
66$1,256,481$799,649$694,644$1,126,273
67$1,353,169$807,358$686,441$1,187,235
68$1,458,727$814,453$676,972$1,253,425
69$1,574,029$820,874$666,163$1,325,372
70$1,700,038$826,554$653,937$1,403,660
71$1,837,811$831,425$640,213$1,488,931
72$1,988,515$835,412$624,907$1,581,896
73$2,153,433$838,436$607,931$1,683,338
74$2,333,978$840,415$589,192$1,794,123
75$2,531,707$841,258$568,593$1,915,203
76$2,748,334$840,873$546,033$2,047,632
77$2,985,746$839,158$521,408$2,192,570
78$3,246,022$836,007$494,605$2,351,300
79$3,531,452$831,307$465,510$2,525,234
80$3,844,558$824,938$434,002$2,715,932
81$4,188,116$816,773$399,954$2,925,114
82$4,565,187$806,678$363,236$3,154,677
83$4,979,141$794,510$323,709$3,406,716
84$5,433,689$780,117$281,229$3,683,538
85$5,932,922$763,339$235,646$3,987,690
86$6,481,343$744,006$186,804$4,321,981
87$7,083,917$721,939$134,539$4,689,509
88$7,746,109$696,947$78,679$5,093,691
89$8,473,944$668,829$19,046$5,538,294
90$9,274,056$637,371$0$6,027,475
91$10,153,756$602,349$0$6,578,186
92$11,121,099$563,524$0$7,189,554
93$12,184,958$520,644$0$7,861,918
94$13,355,110$473,442$0$8,601,481
95$14,642,328$421,636$0$9,415,082
96$16,058,478$364,930$0$10,310,255
97$17,616,640$303,008$0$11,295,306
98$19,331,219$235,538$0$12,379,387
99$21,218,093$162,168$0$13,572,587
100$23,294,754$82,529$0$14,886,022