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%18.8%
1 years$57,475$56,963$56,464$55,976$55,500$53,531
2 years$28,453$27,923$27,410$26,912$26,429$24,466
3 years$18,780$18,248$17,736$17,243$16,767$14,872
4 years$13,945$13,414$12,907$12,422$11,959$10,146
5 years$11,044$10,517$10,016$9,541$9,091$7,365
6 years$9,111$8,588$8,095$7,630$7,193$5,556
7 years$7,731$7,212$6,727$6,273$5,850$4,301
8 years$6,696$6,182$5,705$5,263$4,853$3,391
9 years$5,892$5,383$4,914$4,483$4,087$2,710
10 years$5,249$4,745$4,284$3,864$3,482$2,188
11 years$4,723$4,224$3,771$3,363$2,995$1,780
12 years$4,285$3,791$3,347$2,950$2,595$1,458
13 years$3,915$3,426$2,990$2,604$2,263$1,200
14 years$3,598$3,114$2,687$2,312$1,984$991
15 years$3,324$2,845$2,426$2,062$1,747$821
16 years$3,084$2,610$2,199$1,846$1,544$683
17 years$2,872$2,404$2,001$1,659$1,369$569
18 years$2,684$2,221$1,827$1,495$1,217$474
19 years$2,516$2,059$1,673$1,351$1,085$396
20 years$2,365$1,913$1,535$1,223$969$332
21 years$2,229$1,782$1,412$1,110$867$278
22 years$2,105$1,663$1,301$1,009$777$233
23 years$1,993$1,556$1,201$919$698$195
24 years$1,889$1,458$1,111$838$627$164
25 years$1,794$1,368$1,029$766$564$137
26 years$1,707$1,286$954$700$508$115
27 years$1,626$1,210$886$641$458$97
28 years$1,551$1,140$824$587$414$82
29 years$1,482$1,075$767$538$373$69
30 years$1,417$1,016$714$494$337$58
31 years$1,356$960$666$454$305$48
32 years$1,300$908$621$417$276$41
33 years$1,246$860$580$384$250$34
34 years$1,197$815$542$353$226$29
35 years$1,150$773$507$325$205$24
36 years$1,105$734$474$299$186$20
37 years$1,064$697$444$276$168$17
38 years$1,024$663$415$254$152$14
39 years$987$630$389$234$138$12
40 years$952$599$365$216$125$10
41 years$918$571$342$199$114$9
42 years$886$543$321$184$103$7
43 years$856$518$301$170$94$6
44 years$827$494$283$157$85$5
45 years$799$471$265$145$77$4
46 years$773$449$249$134$70$4
47 years$748$428$234$124$64$3
48 years$724$409$220$114$58$3
49 years$701$391$207$106$52$2
50 years$680$373$194$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $696,000, adding $6,920 every year, while hoping to spend $54,839 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: 75/20/5 Blend
58$696,000$696,000$696,000$696,000
59$774,130$737,242$726,454$831,403
60$794,743$715,019$692,442$847,781
61$815,621$689,868$655,452$858,010
62$836,732$661,590$615,328$867,619
63$858,041$629,970$571,904$876,525
64$879,506$594,784$525,008$884,638
65$901,080$555,792$474,460$891,860
66$922,708$512,744$420,072$898,082
67$944,329$465,373$361,649$903,189
68$965,871$413,397$298,985$907,052
69$987,255$356,518$231,866$909,531
70$1,008,390$294,423$160,069$910,476
71$1,029,175$226,779$83,360$909,719
72$1,049,494$153,235$1,497$907,081
73$1,069,220$73,420$0$902,364
74$1,088,207$0$0$899,934
75$1,106,293$0$0$898,231
76$1,123,297$0$0$911,777
77$1,139,017$0$0$924,246
78$1,153,227$0$0$935,450
79$1,165,673$0$0$945,180
80$1,176,076$0$0$953,203
81$1,184,123$0$0$959,260
82$1,189,465$0$0$963,064
83$1,191,715$0$0$964,293
84$1,190,444$0$0$962,592
85$1,185,175$0$0$957,565
86$1,175,377$0$0$948,775
87$1,160,463$0$0$935,734
88$1,139,782$0$0$917,905
89$1,112,611$0$0$894,688
90$1,078,150$0$0$865,423
91$1,035,515$0$0$829,376
92$983,723$0$0$785,736
93$921,691$0$0$733,606
94$848,216$0$0$671,991
95$761,971$0$0$599,794
96$661,486$0$0$515,800
97$545,139$0$0$418,665
98$411,135$0$0$306,906
99$257,489$0$0$178,881
100$82,010$0$0$32,779