Can I retire at age 59 with 696,000?

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 $696,000?

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$57,475$56,963$56,464$55,976$55,500$54,469
2 years$28,453$27,923$27,410$26,912$26,429$25,393
3 years$18,780$18,248$17,736$17,243$16,767$15,760
4 years$13,945$13,414$12,907$12,422$11,959$10,988
5 years$11,044$10,517$10,016$9,541$9,091$8,159
6 years$9,111$8,588$8,095$7,630$7,193$6,301
7 years$7,731$7,212$6,727$6,273$5,850$4,998
8 years$6,696$6,182$5,705$5,263$4,853$4,041
9 years$5,892$5,383$4,914$4,483$4,087$3,315
10 years$5,249$4,745$4,284$3,864$3,482$2,749
11 years$4,723$4,224$3,771$3,363$2,995$2,299
12 years$4,285$3,791$3,347$2,950$2,595$1,937
13 years$3,915$3,426$2,990$2,604$2,263$1,641
14 years$3,598$3,114$2,687$2,312$1,984$1,396
15 years$3,324$2,845$2,426$2,062$1,747$1,193
16 years$3,084$2,610$2,199$1,846$1,544$1,022
17 years$2,872$2,404$2,001$1,659$1,369$878
18 years$2,684$2,221$1,827$1,495$1,217$756
19 years$2,516$2,059$1,673$1,351$1,085$653
20 years$2,365$1,913$1,535$1,223$969$564
21 years$2,229$1,782$1,412$1,110$867$488
22 years$2,105$1,663$1,301$1,009$777$423
23 years$1,993$1,556$1,201$919$698$367
24 years$1,889$1,458$1,111$838$627$319
25 years$1,794$1,368$1,029$766$564$277
26 years$1,707$1,286$954$700$508$241
27 years$1,626$1,210$886$641$458$209
28 years$1,551$1,140$824$587$414$182
29 years$1,482$1,075$767$538$373$159
30 years$1,417$1,016$714$494$337$138
31 years$1,356$960$666$454$305$121
32 years$1,300$908$621$417$276$105
33 years$1,246$860$580$384$250$92
34 years$1,197$815$542$353$226$80
35 years$1,150$773$507$325$205$70
36 years$1,105$734$474$299$186$61
37 years$1,064$697$444$276$168$53
38 years$1,024$663$415$254$152$46
39 years$987$630$389$234$138$40
40 years$952$599$365$216$125$35
41 years$918$571$342$199$114$31
42 years$886$543$321$184$103$27
43 years$856$518$301$170$94$23
44 years$827$494$283$157$85$20
45 years$799$471$265$145$77$18
46 years$773$449$249$134$70$16
47 years$748$428$234$124$64$14
48 years$724$409$220$114$58$12
49 years$701$391$207$106$52$10
50 years$680$373$194$98$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $696,000, adding $3,415 every year, while hoping to spend $48,964 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: 51/21/28 Blend
58$696,000$696,000$696,000$696,000
59$770,515$733,627$722,839$803,578
60$797,010$717,477$694,956$810,830
61$824,566$698,895$664,499$813,528
62$853,241$677,710$631,329$815,499
63$883,094$653,740$595,301$816,696
64$914,192$626,795$556,265$817,071
65$946,603$596,672$514,064$816,572
66$980,404$563,156$468,533$815,147
67$1,015,676$526,022$419,499$812,743
68$1,052,507$485,029$366,784$809,304
69$1,090,991$439,924$310,200$804,773
70$1,131,232$390,440$249,551$799,093
71$1,173,339$336,293$184,633$792,204
72$1,217,433$277,184$115,231$784,047
73$1,263,643$212,798$41,123$774,560
74$1,312,111$142,802$0$763,682
75$1,362,989$66,842$0$762,693
76$1,416,443$0$0$774,037
77$1,472,655$0$0$789,003
78$1,531,820$0$0$821,037
79$1,594,151$0$0$854,812
80$1,659,882$0$0$890,459
81$1,729,266$0$0$928,117
82$1,802,580$0$0$967,943
83$1,880,125$0$0$1,010,102
84$1,962,230$0$0$1,054,781
85$2,049,256$0$0$1,102,178
86$2,141,595$0$0$1,152,513
87$2,239,677$0$0$1,206,028
88$2,343,972$0$0$1,262,983
89$2,454,994$0$0$1,323,667
90$2,573,307$0$0$1,388,394
91$2,699,526$0$0$1,457,510
92$2,834,328$0$0$1,531,391
93$2,978,452$0$0$1,610,452
94$3,132,710$0$0$1,695,148
95$3,297,992$0$0$1,785,977
96$3,475,273$0$0$1,883,484
97$3,665,625$0$0$1,988,271
98$3,870,223$0$0$2,100,995
99$4,090,357$0$0$2,222,379
100$4,327,444$0$0$2,353,217