Can I retire at age 59 with 698,000?

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 $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%15%
1 years$57,640$57,127$56,626$56,137$55,660$54,513
2 years$28,535$28,003$27,488$26,989$26,505$25,355
3 years$18,834$18,300$17,787$17,292$16,816$15,699
4 years$13,985$13,453$12,944$12,458$11,993$10,917
5 years$11,076$10,547$10,045$9,569$9,117$8,085
6 years$9,137$8,613$8,118$7,652$7,214$6,227
7 years$7,753$7,233$6,746$6,291$5,867$4,926
8 years$6,716$6,200$5,721$5,278$4,867$3,971
9 years$5,909$5,398$4,928$4,495$4,099$3,248
10 years$5,264$4,758$4,296$3,875$3,492$2,685
11 years$4,737$4,236$3,782$3,373$3,004$2,239
12 years$4,298$3,802$3,357$2,958$2,603$1,880
13 years$3,926$3,436$2,999$2,612$2,270$1,587
14 years$3,608$3,123$2,695$2,318$1,990$1,346
15 years$3,333$2,853$2,433$2,067$1,752$1,146
16 years$3,092$2,618$2,206$1,851$1,548$978
17 years$2,880$2,411$2,007$1,663$1,373$838
18 years$2,692$2,228$1,832$1,499$1,221$719
19 years$2,524$2,064$1,677$1,354$1,088$618
20 years$2,372$1,918$1,539$1,227$972$532
21 years$2,236$1,787$1,416$1,113$870$459
22 years$2,111$1,668$1,305$1,012$780$396
23 years$1,998$1,560$1,205$922$700$342
24 years$1,895$1,462$1,114$841$629$296
25 years$1,800$1,372$1,032$768$566$256
26 years$1,712$1,289$957$702$510$222
27 years$1,631$1,213$889$643$460$192
28 years$1,556$1,143$826$589$415$167
29 years$1,486$1,079$769$540$374$145
30 years$1,421$1,019$716$496$338$125
31 years$1,360$963$668$455$306$109
32 years$1,303$911$623$418$277$94
33 years$1,250$863$582$385$250$82
34 years$1,200$818$544$354$227$71
35 years$1,153$776$508$326$205$62
36 years$1,109$736$475$300$186$54
37 years$1,067$699$445$276$169$47
38 years$1,027$664$417$255$153$41
39 years$990$632$390$235$139$35
40 years$954$601$366$217$126$31
41 years$921$572$343$200$114$27
42 years$889$545$322$185$104$23
43 years$858$519$302$170$94$20
44 years$829$495$283$157$85$17
45 years$802$472$266$145$77$15
46 years$775$450$250$134$70$13
47 years$750$430$235$124$64$11
48 years$726$410$221$115$58$10
49 years$703$392$207$106$53$9
50 years$681$374$195$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $698,000, adding $4,327 every year, while hoping to spend $37,092 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: 33/45/22 Blend
58$698,000$698,000$698,000$698,000
59$773,659$736,665$725,846$793,846
60$813,107$733,296$710,697$805,928
61$855,335$728,519$693,796$815,265
62$900,588$722,225$675,047$824,569
63$949,134$714,301$654,347$833,859
64$1,001,268$704,623$631,590$843,161
65$1,057,312$693,064$606,663$852,507
66$1,117,620$679,487$579,449$861,933
67$1,182,583$663,747$549,825$871,487
68$1,252,627$645,692$517,665$881,221
69$1,328,222$625,158$482,835$891,200
70$1,409,885$601,975$445,194$901,499
71$1,498,182$575,960$404,596$912,206
72$1,593,737$546,923$360,891$923,421
73$1,697,235$514,658$313,917$935,262
74$1,809,429$478,953$263,509$947,864
75$1,931,147$439,578$209,494$961,381
76$2,063,302$396,295$151,689$975,990
77$2,206,894$348,849$89,906$991,893
78$2,363,027$296,972$23,947$1,009,319
79$2,532,912$240,380$0$1,028,529
80$2,717,885$178,774$0$1,060,720
81$2,919,413$111,838$0$1,102,031
82$3,139,113$39,238$0$1,147,264
83$3,378,762$0$0$1,196,900
84$3,640,319$0$0$1,270,973
85$3,925,938$0$0$1,373,176
86$4,237,990$0$0$1,484,939
87$4,579,088$0$0$1,607,211
88$4,952,105$0$0$1,741,035
89$5,360,208$0$0$1,887,560
90$5,806,881$0$0$2,048,053
91$6,295,962$0$0$2,223,906
92$6,831,679$0$0$2,416,656
93$7,418,684$0$0$2,627,992
94$8,062,105$0$0$2,859,777
95$8,767,586$0$0$3,114,062
96$9,541,346$0$0$3,393,105
97$10,390,232$0$0$3,699,395
98$11,321,788$0$0$4,035,672
99$12,344,323$0$0$4,404,957
100$13,466,989$0$0$4,810,574