Can I retire at age 59 with 697,000?

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 $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%15.5%
1 years$57,558$57,045$56,545$56,056$55,580$54,324
2 years$28,494$27,963$27,449$26,950$26,467$25,209
3 years$18,807$18,274$17,761$17,267$16,791$15,570
4 years$13,965$13,434$12,926$12,440$11,976$10,800
5 years$11,060$10,532$10,031$9,555$9,104$7,978
6 years$9,124$8,600$8,106$7,641$7,204$6,128
7 years$7,742$7,222$6,736$6,282$5,858$4,834
8 years$6,706$6,191$5,713$5,270$4,860$3,886
9 years$5,901$5,390$4,921$4,489$4,093$3,168
10 years$5,257$4,751$4,290$3,870$3,487$2,611
11 years$4,730$4,230$3,777$3,368$2,999$2,170
12 years$4,291$3,796$3,352$2,954$2,599$1,816
13 years$3,921$3,431$2,995$2,608$2,266$1,528
14 years$3,603$3,119$2,691$2,315$1,987$1,292
15 years$3,328$2,849$2,429$2,065$1,749$1,096
16 years$3,088$2,614$2,203$1,849$1,546$932
17 years$2,876$2,407$2,004$1,661$1,371$795
18 years$2,688$2,224$1,830$1,497$1,219$680
19 years$2,520$2,062$1,675$1,353$1,086$583
20 years$2,369$1,916$1,537$1,225$970$500
21 years$2,232$1,784$1,414$1,112$868$429
22 years$2,108$1,666$1,303$1,011$778$369
23 years$1,995$1,558$1,203$921$699$318
24 years$1,892$1,460$1,113$840$628$274
25 years$1,797$1,370$1,031$767$565$236
26 years$1,709$1,287$956$701$509$204
27 years$1,628$1,212$888$642$459$176
28 years$1,553$1,142$825$588$414$152
29 years$1,484$1,077$768$539$374$131
30 years$1,419$1,017$715$495$338$113
31 years$1,358$962$667$454$305$98
32 years$1,301$910$622$418$276$85
33 years$1,248$862$581$384$250$73
34 years$1,198$817$543$353$226$63
35 years$1,151$775$507$325$205$55
36 years$1,107$735$475$300$186$47
37 years$1,065$698$444$276$168$41
38 years$1,026$664$416$254$153$35
39 years$988$631$390$235$138$31
40 years$953$600$365$216$126$27
41 years$919$571$343$200$114$23
42 years$887$544$321$184$103$20
43 years$857$519$302$170$94$17
44 years$828$494$283$157$85$15
45 years$801$471$266$145$77$13
46 years$774$450$250$134$70$11
47 years$749$429$235$124$64$10
48 years$725$410$220$114$58$8
49 years$702$391$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $697,000, adding $4,312 every year, while hoping to spend $20,708 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: 69/24/7 Blend
58$697,000$697,000$697,000$697,000
59$772,542$735,601$724,797$824,680
60$829,308$749,612$727,045$873,771
61$891,170$763,616$728,674$924,512
62$958,626$777,590$729,641$979,453
63$1,032,225$791,510$729,903$1,039,001
64$1,112,568$805,351$729,411$1,103,607
65$1,200,321$819,084$728,117$1,173,762
66$1,296,215$832,680$725,970$1,250,014
67$1,401,053$846,106$722,914$1,332,960
68$1,515,723$859,327$718,894$1,423,264
69$1,641,199$872,307$713,850$1,521,651
70$1,778,557$885,005$707,719$1,628,926
71$1,928,978$897,379$700,436$1,745,972
72$2,093,767$909,384$691,934$1,873,764
73$2,274,357$920,969$682,139$2,013,374
74$2,472,328$932,083$670,978$2,165,985
75$2,689,421$942,671$658,371$2,332,903
76$2,927,552$952,672$644,237$2,515,562
77$3,188,833$962,023$628,489$2,715,546
78$3,475,588$970,657$611,038$2,934,599
79$3,790,380$978,501$591,789$3,174,645
80$4,136,029$985,478$570,645$3,437,802
81$4,515,644$991,506$547,501$3,726,406
82$4,932,648$996,499$522,251$4,043,031
83$5,390,814$1,000,363$494,782$4,390,512
84$5,894,296$1,003,000$464,977$4,771,977
85$6,447,673$1,004,305$432,711$5,190,872
86$7,055,987$1,004,167$397,858$5,650,993
87$7,724,794$1,002,468$360,283$6,156,525
88$8,460,216$999,082$319,846$6,712,083
89$9,268,998$993,876$276,400$7,322,751
90$10,158,569$986,710$229,793$7,994,131
91$11,137,116$977,432$179,864$8,732,399
92$12,213,660$965,884$126,448$9,544,364
93$13,398,139$951,898$69,370$10,437,526
94$14,701,504$935,296$8,448$11,420,154
95$16,135,819$915,887$0$12,501,362
96$17,714,380$893,473$0$13,695,418
97$19,451,834$867,840$0$15,010,116
98$21,364,322$838,766$0$16,457,040
99$23,469,628$806,011$0$18,049,654
100$25,787,349$769,324$0$19,802,795