Can I retire at age 59 with 696,000?

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 $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%17.6%
1 years$57,475$56,963$56,464$55,976$55,500$53,788
2 years$28,453$27,923$27,410$26,912$26,429$24,719
3 years$18,780$18,248$17,736$17,243$16,767$15,113
4 years$13,945$13,414$12,907$12,422$11,959$10,373
5 years$11,044$10,517$10,016$9,541$9,091$7,578
6 years$9,111$8,588$8,095$7,630$7,193$5,754
7 years$7,731$7,212$6,727$6,273$5,850$4,485
8 years$6,696$6,182$5,705$5,263$4,853$3,561
9 years$5,892$5,383$4,914$4,483$4,087$2,867
10 years$5,249$4,745$4,284$3,864$3,482$2,332
11 years$4,723$4,224$3,771$3,363$2,995$1,913
12 years$4,285$3,791$3,347$2,950$2,595$1,579
13 years$3,915$3,426$2,990$2,604$2,263$1,310
14 years$3,598$3,114$2,687$2,312$1,984$1,091
15 years$3,324$2,845$2,426$2,062$1,747$912
16 years$3,084$2,610$2,199$1,846$1,544$765
17 years$2,872$2,404$2,001$1,659$1,369$642
18 years$2,684$2,221$1,827$1,495$1,217$541
19 years$2,516$2,059$1,673$1,351$1,085$456
20 years$2,365$1,913$1,535$1,223$969$385
21 years$2,229$1,782$1,412$1,110$867$325
22 years$2,105$1,663$1,301$1,009$777$275
23 years$1,993$1,556$1,201$919$698$233
24 years$1,889$1,458$1,111$838$627$197
25 years$1,794$1,368$1,029$766$564$167
26 years$1,707$1,286$954$700$508$142
27 years$1,626$1,210$886$641$458$120
28 years$1,551$1,140$824$587$414$102
29 years$1,482$1,075$767$538$373$87
30 years$1,417$1,016$714$494$337$74
31 years$1,356$960$666$454$305$63
32 years$1,300$908$621$417$276$53
33 years$1,246$860$580$384$250$45
34 years$1,197$815$542$353$226$38
35 years$1,150$773$507$325$205$33
36 years$1,105$734$474$299$186$28
37 years$1,064$697$444$276$168$24
38 years$1,024$663$415$254$152$20
39 years$987$630$389$234$138$17
40 years$952$599$365$216$125$14
41 years$918$571$342$199$114$12
42 years$886$543$321$184$103$10
43 years$856$518$301$170$94$9
44 years$827$494$283$157$85$8
45 years$799$471$265$145$77$6
46 years$773$449$249$134$70$5
47 years$748$428$234$124$64$5
48 years$724$409$220$114$58$4
49 years$701$391$207$106$52$3
50 years$680$373$194$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $696,000, adding $4,236 every year, while hoping to spend $21,450 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: 54/23/23 Blend
58$696,000$696,000$696,000$696,000
59$771,361$734,473$723,685$807,928
60$827,218$747,640$725,106$846,695
61$888,052$760,733$725,856$886,287
62$954,351$773,726$725,889$928,937
63$1,026,646$786,590$725,158$974,946
64$1,105,527$799,296$723,614$1,024,643
65$1,191,640$811,811$721,204$1,078,394
66$1,285,697$824,099$717,874$1,136,601
67$1,388,482$836,123$713,566$1,199,707
68$1,500,857$847,844$708,221$1,268,203
69$1,623,774$859,217$701,776$1,342,629
70$1,758,277$870,198$694,164$1,423,579
71$1,905,520$880,736$685,317$1,511,712
72$2,066,770$890,779$675,162$1,607,753
73$2,243,425$900,271$663,624$1,712,502
74$2,437,022$909,153$650,624$1,826,840
75$2,649,257$917,359$636,078$1,951,741
76$2,881,995$924,824$619,900$2,088,279
77$3,137,291$931,473$602,000$2,237,637
78$3,417,409$937,230$582,281$2,401,122
79$3,724,844$942,012$560,646$2,580,174
80$4,062,340$945,734$536,990$2,776,382
81$4,432,924$948,300$511,205$2,991,499
82$4,839,930$949,614$483,177$3,227,456
83$5,287,027$949,569$452,788$3,486,386
84$5,778,261$948,055$419,914$3,770,638
85$6,318,087$944,954$384,425$4,082,806
86$6,911,415$940,140$346,186$4,425,748
87$7,563,652$933,479$305,056$4,802,617
88$8,280,757$924,832$260,887$5,216,889
89$9,069,293$914,047$213,526$5,672,397
90$9,936,492$900,967$162,810$6,173,370
91$10,890,323$885,423$108,573$6,724,468
92$11,939,564$867,237$50,638$7,330,831
93$13,093,888$846,220$0$7,998,125
94$14,363,953$822,173$0$8,735,346
95$15,761,501$794,884$0$9,560,077
96$17,299,470$764,129$0$10,467,523
97$18,992,116$729,672$0$11,466,110
98$20,855,147$691,261$0$12,565,124
99$22,905,871$648,632$0$13,774,802
100$25,163,360$601,505$0$15,106,423