Can I retire at age 59 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,723$57,209$56,707$56,217$55,739$54,997
2 years$28,576$28,043$27,528$27,028$26,542$25,796
3 years$18,861$18,327$17,812$17,317$16,840$16,112
4 years$14,005$13,472$12,963$12,476$12,010$11,307
5 years$11,092$10,562$10,060$9,583$9,130$8,453
6 years$9,151$8,625$8,130$7,663$7,224$6,575
7 years$7,764$7,243$6,756$6,300$5,875$5,253
8 years$6,725$6,209$5,729$5,285$4,874$4,280
9 years$5,917$5,406$4,935$4,502$4,105$3,537
10 years$5,272$4,765$4,302$3,881$3,497$2,957
11 years$4,744$4,242$3,788$3,377$3,008$2,494
12 years$4,304$3,807$3,361$2,962$2,607$2,118
13 years$3,932$3,441$3,003$2,615$2,273$1,810
14 years$3,614$3,128$2,698$2,322$1,992$1,553
15 years$3,338$2,857$2,436$2,070$1,754$1,339
16 years$3,097$2,621$2,209$1,854$1,550$1,158
17 years$2,884$2,414$2,010$1,666$1,375$1,004
18 years$2,696$2,231$1,835$1,501$1,222$873
19 years$2,527$2,067$1,680$1,356$1,090$760
20 years$2,376$1,921$1,542$1,228$973$664
21 years$2,239$1,789$1,418$1,115$871$580
22 years$2,114$1,670$1,307$1,014$781$508
23 years$2,001$1,562$1,207$923$701$445
24 years$1,897$1,464$1,116$842$630$390
25 years$1,802$1,374$1,034$769$567$343
26 years$1,714$1,291$959$703$511$301
27 years$1,633$1,215$890$644$460$265
28 years$1,558$1,145$827$590$415$233
29 years$1,488$1,080$770$541$375$205
30 years$1,423$1,020$717$496$339$180
31 years$1,362$964$669$456$306$159
32 years$1,305$912$624$419$277$140
33 years$1,252$864$583$385$251$123
34 years$1,202$819$544$354$227$109
35 years$1,155$777$509$326$206$96
36 years$1,110$737$476$300$186$85
37 years$1,068$700$446$277$169$75
38 years$1,029$665$417$255$153$66
39 years$991$633$391$235$139$58
40 years$956$602$366$217$126$51
41 years$922$573$344$200$114$45
42 years$890$546$322$185$104$40
43 years$859$520$302$171$94$35
44 years$831$496$284$157$85$31
45 years$803$473$267$145$78$28
46 years$777$451$250$134$70$24
47 years$751$430$235$124$64$21
48 years$727$411$221$115$58$19
49 years$704$392$208$106$53$17
50 years$682$375$195$98$48$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $699,000, adding $4,044 every year, while hoping to spend $28,718 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: 60/22/18 Blend
58$699,000$699,000$699,000$699,000
59$774,469$737,422$726,588$817,103
60$822,910$743,000$720,373$851,972
61$875,328$747,889$712,987$886,461
62$932,100$752,025$704,361$923,426
63$993,640$755,339$694,422$963,111
64$1,060,399$757,759$683,094$1,005,786
65$1,132,879$759,208$670,296$1,051,748
66$1,211,627$759,604$655,946$1,101,326
67$1,297,249$758,860$639,956$1,154,883
68$1,390,408$756,884$622,234$1,212,820
69$1,491,836$753,577$602,685$1,275,581
70$1,602,337$748,836$581,208$1,343,654
71$1,722,796$742,550$557,700$1,417,580
72$1,854,189$734,603$532,050$1,497,957
73$1,997,587$724,869$504,145$1,585,443
74$2,154,171$713,218$473,864$1,680,767
75$2,325,241$699,510$441,083$1,784,733
76$2,512,228$683,598$405,672$1,898,228
77$2,716,706$665,326$367,493$2,022,233
78$2,940,410$644,527$326,404$2,157,830
79$3,185,250$621,027$282,257$2,306,213
80$3,453,329$594,640$234,895$2,468,702
81$3,746,962$565,171$184,158$2,646,752
82$4,068,700$532,412$129,874$2,841,971
83$4,421,350$496,143$71,868$3,056,131
84$4,808,006$456,133$9,955$3,291,190
85$5,232,076$412,136$0$3,549,308
86$5,697,310$363,894$0$3,843,648
87$6,207,843$311,131$0$4,168,803
88$6,768,226$253,560$0$4,525,802
89$7,383,475$190,874$0$4,917,890
90$8,059,113$122,750$0$5,348,645
91$8,801,225$48,848$0$5,822,011
92$9,616,516$0$0$6,342,337
93$10,512,369$0$0$6,921,970
94$11,496,922$0$0$7,572,049
95$12,579,135$0$0$8,286,672
96$13,768,885$0$0$9,072,369
97$15,077,049$0$0$9,936,331
98$16,515,614$0$0$10,886,483
99$18,097,785$0$0$11,931,555
100$19,838,111$0$0$13,081,165