Can I retire at age 69 with 588,000?

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 $588,000?

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$48,556$48,124$47,702$47,290$46,888$45,829
2 years$24,038$23,590$23,156$22,736$22,328$21,266
3 years$15,866$15,416$14,984$14,567$14,166$13,135
4 years$11,781$11,333$10,904$10,495$10,103$9,111
5 years$9,331$8,885$8,462$8,061$7,680$6,730
6 years$7,697$7,255$6,839$6,446$6,077$5,170
7 years$6,531$6,093$5,683$5,300$4,942$4,078
8 years$5,657$5,223$4,820$4,446$4,100$3,278
9 years$4,978$4,547$4,151$3,787$3,453$2,673
10 years$4,434$4,008$3,619$3,264$2,942$2,203
11 years$3,990$3,568$3,186$2,841$2,530$1,831
12 years$3,620$3,203$2,828$2,492$2,193$1,532
13 years$3,308$2,894$2,526$2,200$1,912$1,289
14 years$3,040$2,631$2,270$1,953$1,676$1,090
15 years$2,808$2,403$2,049$1,742$1,476$924
16 years$2,605$2,205$1,858$1,559$1,304$787
17 years$2,426$2,031$1,691$1,401$1,156$671
18 years$2,268$1,877$1,543$1,263$1,028$574
19 years$2,126$1,739$1,413$1,141$917$491
20 years$1,998$1,616$1,297$1,033$819$422
21 years$1,883$1,505$1,193$938$733$362
22 years$1,779$1,405$1,099$853$657$311
23 years$1,683$1,314$1,015$777$589$268
24 years$1,596$1,231$939$708$530$231
25 years$1,516$1,156$869$647$477$199
26 years$1,442$1,086$806$591$429$172
27 years$1,374$1,022$749$541$387$148
28 years$1,311$963$696$496$349$128
29 years$1,252$909$648$455$315$110
30 years$1,197$858$603$417$285$95
31 years$1,146$811$563$383$258$82
32 years$1,098$768$525$352$233$71
33 years$1,053$727$490$324$211$62
34 years$1,011$689$458$298$191$53
35 years$971$653$428$274$173$46
36 years$934$620$400$253$157$40
37 years$899$589$375$233$142$35
38 years$865$560$351$215$129$30
39 years$834$532$329$198$117$26
40 years$804$506$308$183$106$22
41 years$776$482$289$168$96$19
42 years$749$459$271$155$87$17
43 years$723$437$254$143$79$14
44 years$699$417$239$132$72$13
45 years$675$398$224$122$65$11
46 years$653$379$211$113$59$9
47 years$632$362$198$104$54$8
48 years$612$346$186$96$49$7
49 years$593$330$175$89$44$6
50 years$574$315$164$82$40$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $588,000, adding $3,580 every year, while hoping to spend $39,275 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: 44/47/9 Blend
68$588,000$588,000$588,000$588,000
69$651,669$620,505$611,391$678,515
70$676,351$609,121$590,084$686,114
71$702,234$595,864$566,747$690,051
72$729,399$580,598$541,271$693,423
73$757,935$563,185$513,540$696,194
74$787,937$543,473$483,436$698,325
75$819,508$521,305$450,834$699,778
76$852,763$496,514$415,602$700,512
77$887,825$468,923$377,604$700,487
78$924,827$438,344$336,697$699,663
79$963,916$404,580$292,734$698,000
80$1,005,252$367,421$245,557$695,458
81$1,049,010$326,647$195,005$691,998
82$1,095,379$282,023$140,908$687,580
83$1,144,568$233,302$83,089$682,167
84$1,196,804$180,225$21,363$675,725
85$1,252,337$122,514$0$668,220
86$1,311,437$59,879$0$663,896
87$1,374,404$0$0$660,920
88$1,441,564$0$0$661,366
89$1,513,273$0$0$694,952
90$1,589,923$0$0$730,896
91$1,671,945$0$0$769,405
92$1,759,807$0$0$810,707
93$1,854,028$0$0$855,052
94$1,955,172$0$0$902,711
95$2,063,863$0$0$953,985
96$2,180,781$0$0$1,009,204
97$2,306,677$0$0$1,068,730
98$2,442,373$0$0$1,132,960
99$2,588,774$0$0$1,202,331
100$2,746,871$0$0$1,277,322