Can I retire at age 59 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$57,640$57,127$56,626$56,137$55,660$54,138
2 years$28,535$28,003$27,488$26,989$26,505$24,983
3 years$18,834$18,300$17,787$17,292$16,816$15,341
4 years$13,985$13,453$12,944$12,458$11,993$10,578
5 years$11,076$10,547$10,045$9,569$9,117$7,764
6 years$9,137$8,613$8,118$7,652$7,214$5,925
7 years$7,753$7,233$6,746$6,291$5,867$4,642
8 years$6,716$6,200$5,721$5,278$4,867$3,705
9 years$5,909$5,398$4,928$4,495$4,099$2,999
10 years$5,264$4,758$4,296$3,875$3,492$2,453
11 years$4,737$4,236$3,782$3,373$3,004$2,024
12 years$4,298$3,802$3,357$2,958$2,603$1,680
13 years$3,926$3,436$2,999$2,612$2,270$1,403
14 years$3,608$3,123$2,695$2,318$1,990$1,176
15 years$3,333$2,853$2,433$2,067$1,752$989
16 years$3,092$2,618$2,206$1,851$1,548$835
17 years$2,880$2,411$2,007$1,663$1,373$706
18 years$2,692$2,228$1,832$1,499$1,221$598
19 years$2,524$2,064$1,677$1,354$1,088$508
20 years$2,372$1,918$1,539$1,227$972$432
21 years$2,236$1,787$1,416$1,113$870$367
22 years$2,111$1,668$1,305$1,012$780$313
23 years$1,998$1,560$1,205$922$700$267
24 years$1,895$1,462$1,114$841$629$228
25 years$1,800$1,372$1,032$768$566$194
26 years$1,712$1,289$957$702$510$166
27 years$1,631$1,213$889$643$460$142
28 years$1,556$1,143$826$589$415$121
29 years$1,486$1,079$769$540$374$104
30 years$1,421$1,019$716$496$338$89
31 years$1,360$963$668$455$306$76
32 years$1,303$911$623$418$277$65
33 years$1,250$863$582$385$250$56
34 years$1,200$818$544$354$227$48
35 years$1,153$776$508$326$205$41
36 years$1,109$736$475$300$186$35
37 years$1,067$699$445$276$169$30
38 years$1,027$664$417$255$153$26
39 years$990$632$390$235$139$22
40 years$954$601$366$217$126$19
41 years$921$572$343$200$114$16
42 years$889$545$322$185$104$14
43 years$858$519$302$170$94$12
44 years$829$495$283$157$85$10
45 years$802$472$266$145$77$9
46 years$775$450$250$134$70$7
47 years$750$430$235$124$64$6
48 years$726$410$221$115$58$5
49 years$703$392$207$106$53$5
50 years$681$374$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $698,000, adding $5,626 every year, while hoping to spend $30,197 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: 75/5/20 Blend
58$698,000$698,000$698,000$698,000
59$774,999$738,005$727,186$829,058
60$821,920$742,038$719,418$869,692
61$872,614$745,257$710,377$909,978
62$927,435$747,589$699,989$953,352
63$986,772$748,958$688,176$1,000,116
64$1,051,049$749,284$674,857$1,050,600
65$1,120,737$748,480$659,946$1,105,172
66$1,196,352$746,455$643,354$1,164,233
67$1,278,460$743,112$624,986$1,228,228
68$1,367,686$738,347$604,746$1,297,647
69$1,464,716$732,052$582,531$1,373,031
70$1,570,305$724,111$558,234$1,454,976
71$1,685,284$714,400$531,742$1,544,139
72$1,810,567$702,790$502,940$1,641,245
73$1,947,160$689,142$471,704$1,747,093
74$2,096,172$673,311$437,907$1,862,565
75$2,258,820$655,142$401,416$1,988,632
76$2,436,447$634,471$362,091$2,126,366
77$2,630,530$611,125$319,786$2,276,948
78$2,842,694$584,921$274,349$2,441,683
79$3,074,730$555,663$225,621$2,622,006
80$3,328,610$523,148$173,436$2,819,501
81$3,606,503$487,157$117,621$3,035,917
82$3,910,800$447,462$57,996$3,273,178
83$4,244,133$403,819$0$3,533,409
84$4,609,401$355,972$0$3,820,154
85$5,009,796$303,651$0$4,148,078
86$5,448,833$246,568$0$4,507,682
87$5,930,386$184,421$0$4,902,151
88$6,458,718$116,891$0$5,334,993
89$7,038,529$43,640$0$5,810,072
90$7,674,992$0$0$6,331,647
91$8,373,808$0$0$6,906,373
92$9,141,257$0$0$7,540,210
93$9,984,255$0$0$8,236,474
94$10,910,423$0$0$9,001,463
95$11,928,154$0$0$9,842,114
96$13,046,697$0$0$10,766,070
97$14,276,241$0$0$11,781,752
98$15,628,010$0$0$12,898,435
99$17,114,370$0$0$14,126,341
100$18,748,947$0$0$15,476,730