Can I retire at age 59 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$57,558$57,045$56,545$56,056$55,580$54,682
2 years$28,494$27,963$27,449$26,950$26,467$25,564
3 years$18,807$18,274$17,761$17,267$16,791$15,913
4 years$13,965$13,434$12,926$12,440$11,976$11,128
5 years$11,060$10,532$10,031$9,555$9,104$8,289
6 years$9,124$8,600$8,106$7,641$7,204$6,423
7 years$7,742$7,222$6,736$6,282$5,858$5,112
8 years$6,706$6,191$5,713$5,270$4,860$4,147
9 years$5,901$5,390$4,921$4,489$4,093$3,414
10 years$5,257$4,751$4,290$3,870$3,487$2,842
11 years$4,730$4,230$3,777$3,368$2,999$2,386
12 years$4,291$3,796$3,352$2,954$2,599$2,017
13 years$3,921$3,431$2,995$2,608$2,266$1,716
14 years$3,603$3,119$2,691$2,315$1,987$1,466
15 years$3,328$2,849$2,429$2,065$1,749$1,257
16 years$3,088$2,614$2,203$1,849$1,546$1,082
17 years$2,876$2,407$2,004$1,661$1,371$934
18 years$2,688$2,224$1,830$1,497$1,219$808
19 years$2,520$2,062$1,675$1,353$1,086$700
20 years$2,369$1,916$1,537$1,225$970$608
21 years$2,232$1,784$1,414$1,112$868$529
22 years$2,108$1,666$1,303$1,011$778$460
23 years$1,995$1,558$1,203$921$699$401
24 years$1,892$1,460$1,113$840$628$350
25 years$1,797$1,370$1,031$767$565$305
26 years$1,709$1,287$956$701$509$267
27 years$1,628$1,212$888$642$459$233
28 years$1,553$1,142$825$588$414$204
29 years$1,484$1,077$768$539$374$179
30 years$1,419$1,017$715$495$338$156
31 years$1,358$962$667$454$305$137
32 years$1,301$910$622$418$276$120
33 years$1,248$862$581$384$250$105
34 years$1,198$817$543$353$226$92
35 years$1,151$775$507$325$205$81
36 years$1,107$735$475$300$186$71
37 years$1,065$698$444$276$168$62
38 years$1,026$664$416$254$153$54
39 years$988$631$390$235$138$48
40 years$953$600$365$216$126$42
41 years$919$571$343$200$114$37
42 years$887$544$321$184$103$32
43 years$857$519$302$170$94$28
44 years$828$494$283$157$85$25
45 years$801$471$266$145$77$22
46 years$774$450$250$134$70$19
47 years$749$429$235$124$64$17
48 years$725$410$220$114$58$15
49 years$702$391$207$106$53$13
50 years$681$374$195$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $697,000, adding $5,654 every year, while hoping to spend $20,055 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: 60/35/5 Blend
58$697,000$697,000$697,000$697,000
59$773,926$736,985$726,182$819,363
60$831,528$751,759$729,170$865,202
61$894,334$766,585$731,587$912,351
62$962,852$781,443$733,391$963,259
63$1,037,644$796,315$734,541$1,018,289
64$1,119,326$811,178$734,991$1,077,836
65$1,208,580$826,008$734,696$1,142,341
66$1,306,153$840,780$733,606$1,212,286
67$1,412,868$855,466$731,669$1,288,203
68$1,529,633$870,036$728,833$1,370,678
69$1,657,447$884,459$725,040$1,460,357
70$1,797,409$898,700$720,231$1,557,951
71$1,950,731$912,723$714,345$1,664,245
72$2,118,746$926,487$707,316$1,780,103
73$2,302,924$939,950$699,077$1,906,476
74$2,504,882$953,067$689,555$2,044,415
75$2,726,402$965,789$678,677$2,195,076
76$2,969,446$978,065$666,365$2,359,733
77$3,236,177$989,837$652,535$2,539,792
78$3,528,976$1,001,048$637,104$2,736,800
79$3,850,465$1,011,633$619,981$2,952,465
80$4,203,535$1,021,526$601,073$3,188,666
81$4,591,368$1,030,653$580,281$3,447,478
82$5,017,471$1,038,938$557,504$3,731,186
83$5,485,707$1,046,300$532,634$4,042,307
84$6,000,331$1,052,650$505,559$4,383,619
85$6,566,031$1,057,897$476,162$4,758,180
86$7,187,974$1,061,941$444,321$5,169,365
87$7,871,849$1,064,678$409,907$5,620,890
88$8,623,927$1,065,997$372,788$6,116,854
89$9,451,114$1,065,778$332,824$6,661,773
90$10,361,023$1,063,896$289,868$7,260,626
91$11,362,038$1,060,217$243,770$7,918,901
92$12,463,398$1,054,600$194,368$8,642,646
93$13,675,284$1,046,895$141,499$9,438,529
94$15,008,912$1,036,942$84,988$10,313,899
95$16,476,640$1,024,571$24,654$11,276,856
96$18,092,087$1,009,604$0$12,336,328
97$19,870,256$991,851$0$13,504,277
98$21,827,681$971,110$0$14,790,971
99$23,982,579$947,169$0$16,207,062
100$26,355,023$919,802$0$17,765,738