Can I retire at age 69 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$48,639$48,206$47,783$47,371$46,968$46,652
2 years$24,079$23,630$23,196$22,774$22,366$22,047
3 years$15,893$15,443$15,009$14,592$14,190$13,879
4 years$11,801$11,352$10,923$10,513$10,120$9,819
5 years$9,346$8,900$8,477$8,075$7,693$7,402
6 years$7,711$7,268$6,850$6,457$6,087$5,807
7 years$6,543$6,103$5,693$5,309$4,951$4,681
8 years$5,667$5,232$4,828$4,454$4,107$3,849
9 years$4,986$4,555$4,158$3,793$3,459$3,211
10 years$4,442$4,015$3,625$3,270$2,947$2,710
11 years$3,997$3,574$3,192$2,846$2,535$2,308
12 years$3,627$3,208$2,832$2,496$2,196$1,981
13 years$3,313$2,899$2,531$2,204$1,915$1,710
14 years$3,045$2,635$2,274$1,956$1,679$1,483
15 years$2,813$2,407$2,053$1,745$1,478$1,292
16 years$2,609$2,209$1,861$1,562$1,306$1,130
17 years$2,430$2,034$1,694$1,404$1,158$991
18 years$2,272$1,880$1,546$1,265$1,030$871
19 years$2,130$1,742$1,415$1,143$918$768
20 years$2,002$1,619$1,299$1,035$820$678
21 years$1,886$1,508$1,195$939$734$600
22 years$1,782$1,408$1,101$854$658$531
23 years$1,686$1,316$1,017$778$590$471
24 years$1,599$1,233$940$710$531$419
25 years$1,519$1,158$871$648$478$372
26 years$1,445$1,088$808$592$430$331
27 years$1,376$1,024$750$542$388$295
28 years$1,313$965$697$497$350$263
29 years$1,254$910$649$456$316$234
30 years$1,199$860$604$418$286$209
31 years$1,148$813$563$384$258$186
32 years$1,100$769$526$353$234$166
33 years$1,055$728$491$325$211$149
34 years$1,013$690$459$299$191$133
35 years$973$655$429$275$173$119
36 years$935$621$401$253$157$106
37 years$900$590$375$233$142$95
38 years$867$561$352$215$129$85
39 years$835$533$329$198$117$76
40 years$805$507$309$183$106$68
41 years$777$483$290$169$96$61
42 years$750$460$272$156$87$54
43 years$724$438$255$144$79$49
44 years$700$418$239$133$72$44
45 years$677$398$225$123$65$39
46 years$654$380$211$113$59$35
47 years$633$363$198$105$54$31
48 years$613$346$186$97$49$28
49 years$594$331$175$89$44$25
50 years$575$316$165$83$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $589,000, adding $5,188 every year, while hoping to spend $21,113 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: 62/14/24 Blend
68$589,000$589,000$589,000$589,000
69$654,429$623,212$614,083$690,556
70$698,717$631,286$612,191$723,705
71$746,815$639,047$609,527$757,102
72$799,088$646,459$606,045$793,099
73$855,941$653,481$601,693$831,953
74$917,815$660,070$596,419$873,949
75$985,200$666,181$590,166$919,398
76$1,058,632$671,766$582,878$968,647
77$1,138,702$676,772$574,494$1,022,076
78$1,226,060$681,143$564,949$1,080,105
79$1,321,421$684,822$554,178$1,143,199
80$1,425,573$687,746$542,111$1,211,870
81$1,539,384$689,849$528,674$1,286,682
82$1,663,809$691,059$513,792$1,368,258
83$1,799,898$691,301$497,385$1,457,285
84$1,948,810$690,497$479,369$1,554,524
85$2,111,818$688,560$459,657$1,660,809
86$2,290,325$685,402$438,159$1,777,064
87$2,485,879$680,927$414,777$1,904,308
88$2,700,180$675,034$389,414$2,043,664
89$2,935,103$667,616$361,964$2,196,372
90$3,192,713$658,558$332,319$2,363,797
91$3,475,283$647,741$300,365$2,547,449
92$3,785,318$635,036$265,983$2,748,989
93$4,125,577$620,309$229,050$2,970,253
94$4,499,098$603,416$189,435$3,213,264
95$4,909,228$584,206$147,004$3,480,252
96$5,359,655$562,518$101,614$3,773,678
97$5,854,441$538,183$53,120$4,096,257
98$6,398,061$511,020$1,365$4,450,981
99$6,995,443$480,840$0$4,841,151
100$7,652,019$447,442$0$5,284,199