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%11.2%
1 years$57,558$57,045$56,545$56,056$55,580$55,299
2 years$28,494$27,963$27,449$26,950$26,467$26,183
3 years$18,807$18,274$17,761$17,267$16,791$16,514
4 years$13,965$13,434$12,926$12,440$11,976$11,707
5 years$11,060$10,532$10,031$9,555$9,104$8,844
6 years$9,124$8,600$8,106$7,641$7,204$6,953
7 years$7,742$7,222$6,736$6,282$5,858$5,618
8 years$6,706$6,191$5,713$5,270$4,860$4,629
9 years$5,901$5,390$4,921$4,489$4,093$3,871
10 years$5,257$4,751$4,290$3,870$3,487$3,275
11 years$4,730$4,230$3,777$3,368$2,999$2,796
12 years$4,291$3,796$3,352$2,954$2,599$2,405
13 years$3,921$3,431$2,995$2,608$2,266$2,082
14 years$3,603$3,119$2,691$2,315$1,987$1,811
15 years$3,328$2,849$2,429$2,065$1,749$1,582
16 years$3,088$2,614$2,203$1,849$1,546$1,387
17 years$2,876$2,407$2,004$1,661$1,371$1,220
18 years$2,688$2,224$1,830$1,497$1,219$1,075
19 years$2,520$2,062$1,675$1,353$1,086$950
20 years$2,369$1,916$1,537$1,225$970$842
21 years$2,232$1,784$1,414$1,112$868$747
22 years$2,108$1,666$1,303$1,011$778$663
23 years$1,995$1,558$1,203$921$699$590
24 years$1,892$1,460$1,113$840$628$526
25 years$1,797$1,370$1,031$767$565$469
26 years$1,709$1,287$956$701$509$418
27 years$1,628$1,212$888$642$459$374
28 years$1,553$1,142$825$588$414$334
29 years$1,484$1,077$768$539$374$299
30 years$1,419$1,017$715$495$338$267
31 years$1,358$962$667$454$305$239
32 years$1,301$910$622$418$276$214
33 years$1,248$862$581$384$250$192
34 years$1,198$817$543$353$226$172
35 years$1,151$775$507$325$205$155
36 years$1,107$735$475$300$186$139
37 years$1,065$698$444$276$168$124
38 years$1,026$664$416$254$153$112
39 years$988$631$390$235$138$100
40 years$953$600$365$216$126$90
41 years$919$571$343$200$114$81
42 years$887$544$321$184$103$73
43 years$857$519$302$170$94$65
44 years$828$494$283$157$85$59
45 years$801$471$266$145$77$53
46 years$774$450$250$134$70$47
47 years$749$429$235$124$64$42
48 years$725$410$220$114$58$38
49 years$702$391$207$106$53$34
50 years$681$374$195$98$48$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $697,000, adding $3,892 every year, while hoping to spend $34,493 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: 64/9/27 Blend
58$697,000$697,000$697,000$697,000
59$772,109$735,168$724,364$815,774
60$814,163$734,491$711,930$845,107
61$859,352$732,624$697,923$872,983
62$907,957$729,474$682,255$902,688
63$960,290$724,939$664,832$934,404
64$1,016,691$718,914$645,556$968,335
65$1,077,538$711,284$624,326$1,004,707
66$1,143,240$701,931$601,034$1,043,770
67$1,214,252$690,726$575,570$1,085,799
68$1,291,070$677,537$547,816$1,131,101
69$1,374,242$662,219$517,651$1,180,014
70$1,464,370$644,623$484,947$1,232,912
71$1,562,114$624,588$449,572$1,290,210
72$1,668,202$601,945$411,385$1,352,367
73$1,783,434$576,515$370,241$1,419,887
74$1,908,689$548,110$325,989$1,493,334
75$2,044,936$516,527$278,470$1,573,324
76$2,193,238$481,557$227,518$1,660,545
77$2,354,769$442,973$172,961$1,755,752
78$2,530,818$400,541$114,617$1,859,784
79$2,722,803$354,009$52,298$1,973,563
80$2,932,286$303,113$0$2,098,113
81$3,160,988$247,574$0$2,238,655
82$3,410,799$187,096$0$2,408,688
83$3,683,804$121,367$0$2,594,569
84$3,982,296$50,058$0$2,797,885
85$4,308,801$0$0$3,020,383
86$4,666,099$0$0$3,266,681
87$5,057,253$0$0$3,541,790
88$5,485,633$0$0$3,843,131
89$5,954,953$0$0$4,173,321
90$6,469,301$0$0$4,535,243
91$7,033,182$0$0$4,932,073
92$7,651,556$0$0$5,367,308
93$8,329,884$0$0$5,844,801
94$9,074,185$0$0$6,368,793
95$9,891,086$0$0$6,943,959
96$10,787,888$0$0$7,575,447
97$11,772,633$0$0$8,268,927
98$12,854,180$0$0$9,030,648
99$14,042,288$0$0$9,867,489
100$15,347,709$0$0$10,787,034