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%19.3%
1 years$57,392$56,881$56,382$55,896$55,420$53,348
2 years$28,412$27,883$27,370$26,873$26,391$24,326
3 years$18,753$18,222$17,710$17,218$16,743$14,752
4 years$13,925$13,395$12,889$12,404$11,941$10,039
5 years$11,028$10,502$10,002$9,528$9,078$7,268
6 years$9,098$8,576$8,083$7,619$7,183$5,468
7 years$7,720$7,202$6,717$6,264$5,842$4,221
8 years$6,687$6,173$5,697$5,255$4,846$3,318
9 years$5,884$5,375$4,907$4,476$4,081$2,643
10 years$5,241$4,738$4,278$3,858$3,477$2,127
11 years$4,716$4,218$3,766$3,358$2,991$1,726
12 years$4,279$3,786$3,342$2,945$2,592$1,408
13 years$3,909$3,421$2,986$2,600$2,260$1,155
14 years$3,593$3,110$2,683$2,308$1,981$951
15 years$3,319$2,841$2,422$2,059$1,744$785
16 years$3,079$2,606$2,196$1,843$1,542$650
17 years$2,868$2,400$1,998$1,656$1,367$539
18 years$2,680$2,218$1,824$1,493$1,215$448
19 years$2,513$2,056$1,670$1,349$1,083$373
20 years$2,362$1,910$1,533$1,221$968$311
21 years$2,226$1,779$1,410$1,109$866$259
22 years$2,102$1,661$1,299$1,008$776$217
23 years$1,990$1,553$1,200$918$697$181
24 years$1,887$1,455$1,110$837$626$151
25 years$1,792$1,366$1,028$765$564$126
26 years$1,705$1,284$953$699$508$106
27 years$1,624$1,208$885$640$458$89
28 years$1,549$1,138$823$586$413$74
29 years$1,479$1,074$766$538$373$62
30 years$1,415$1,014$713$493$337$52
31 years$1,354$959$665$453$305$44
32 years$1,298$907$620$416$276$36
33 years$1,245$859$579$383$249$31
34 years$1,195$814$541$352$226$26
35 years$1,148$772$506$324$204$21
36 years$1,104$733$473$299$185$18
37 years$1,062$696$443$275$168$15
38 years$1,023$662$415$254$152$13
39 years$985$629$389$234$138$11
40 years$950$599$364$216$125$9
41 years$917$570$342$199$114$7
42 years$885$543$320$184$103$6
43 years$855$517$301$170$94$5
44 years$826$493$282$157$85$4
45 years$798$470$265$145$77$4
46 years$772$448$249$134$70$3
47 years$747$428$234$123$64$3
48 years$723$408$220$114$58$2
49 years$700$390$207$105$52$2
50 years$679$373$194$97$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $695,000, adding $6,566 every year, while hoping to spend $52,714 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: 84/5/11 Blend
58$695,000$695,000$695,000$695,000
59$772,663$735,828$725,055$835,639
60$795,387$715,796$693,257$857,780
61$818,663$693,016$658,627$874,356
62$842,490$667,297$621,015$890,955
63$866,867$638,439$580,263$907,547
64$891,793$606,227$536,206$924,100
65$917,260$570,437$488,674$940,577
66$943,262$530,830$437,486$956,939
67$969,788$487,154$382,455$973,143
68$996,825$439,143$323,386$989,138
69$1,024,355$386,515$260,073$1,004,872
70$1,052,358$328,972$192,304$1,020,286
71$1,080,808$266,201$119,856$1,035,314
72$1,109,674$197,869$42,495$1,049,884
73$1,138,922$123,626$0$1,063,919
74$1,168,509$43,100$0$1,082,032
75$1,198,386$0$0$1,105,056
76$1,228,498$0$0$1,130,349
77$1,258,779$0$0$1,158,164
78$1,289,155$0$0$1,186,060
79$1,319,542$0$0$1,213,960
80$1,349,844$0$0$1,241,773
81$1,379,951$0$0$1,269,398
82$1,409,741$0$0$1,296,722
83$1,439,074$0$0$1,323,615
84$1,467,793$0$0$1,349,932
85$1,495,722$0$0$1,375,509
86$1,522,664$0$0$1,400,164
87$1,548,398$0$0$1,423,690
88$1,572,674$0$0$1,445,859
89$1,595,216$0$0$1,466,413
90$1,615,714$0$0$1,485,065
91$1,633,823$0$0$1,501,495
92$1,649,159$0$0$1,515,348
93$1,661,292$0$0$1,526,225
94$1,669,747$0$0$1,533,686
95$1,673,993$0$0$1,537,239
96$1,673,440$0$0$1,536,339
97$1,667,435$0$0$1,530,380
98$1,655,252$0$0$1,518,688
99$1,636,085$0$0$1,500,519
100$1,609,041$0$0$1,475,044