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%17.7%
1 years$57,640$57,127$56,626$56,137$55,660$53,921
2 years$28,535$28,003$27,488$26,989$26,505$24,768
3 years$18,834$18,300$17,787$17,292$16,816$15,136
4 years$13,985$13,453$12,944$12,458$11,993$10,384
5 years$11,076$10,547$10,045$9,569$9,117$7,582
6 years$9,137$8,613$8,118$7,652$7,214$5,754
7 years$7,753$7,233$6,746$6,291$5,867$4,482
8 years$6,716$6,200$5,721$5,278$4,867$3,557
9 years$5,909$5,398$4,928$4,495$4,099$2,862
10 years$5,264$4,758$4,296$3,875$3,492$2,327
11 years$4,737$4,236$3,782$3,373$3,004$1,907
12 years$4,298$3,802$3,357$2,958$2,603$1,573
13 years$3,926$3,436$2,999$2,612$2,270$1,304
14 years$3,608$3,123$2,695$2,318$1,990$1,086
15 years$3,333$2,853$2,433$2,067$1,752$907
16 years$3,092$2,618$2,206$1,851$1,548$760
17 years$2,880$2,411$2,007$1,663$1,373$638
18 years$2,692$2,228$1,832$1,499$1,221$536
19 years$2,524$2,064$1,677$1,354$1,088$452
20 years$2,372$1,918$1,539$1,227$972$381
21 years$2,236$1,787$1,416$1,113$870$322
22 years$2,111$1,668$1,305$1,012$780$272
23 years$1,998$1,560$1,205$922$700$230
24 years$1,895$1,462$1,114$841$629$195
25 years$1,800$1,372$1,032$768$566$165
26 years$1,712$1,289$957$702$510$140
27 years$1,631$1,213$889$643$460$119
28 years$1,556$1,143$826$589$415$101
29 years$1,486$1,079$769$540$374$85
30 years$1,421$1,019$716$496$338$72
31 years$1,360$963$668$455$306$61
32 years$1,303$911$623$418$277$52
33 years$1,250$863$582$385$250$44
34 years$1,200$818$544$354$227$38
35 years$1,153$776$508$326$205$32
36 years$1,109$736$475$300$186$27
37 years$1,067$699$445$276$169$23
38 years$1,027$664$417$255$153$20
39 years$990$632$390$235$139$17
40 years$954$601$366$217$126$14
41 years$921$572$343$200$114$12
42 years$889$545$322$185$104$10
43 years$858$519$302$170$94$9
44 years$829$495$283$157$85$7
45 years$802$472$266$145$77$6
46 years$775$450$250$134$70$5
47 years$750$430$235$124$64$5
48 years$726$410$221$115$58$4
49 years$703$392$207$106$53$3
50 years$681$374$195$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $698,000, adding $5,489 every year, while hoping to spend $38,609 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: 80/13/7 Blend
58$698,000$698,000$698,000$698,000
59$774,858$737,864$727,045$835,824
60$812,814$732,940$710,321$871,626
61$853,347$726,480$691,743$905,252
62$896,680$718,369$671,208$940,983
63$943,056$708,484$648,608$979,010
64$992,742$696,694$623,831$1,019,541
65$1,046,032$682,862$596,759$1,062,808
66$1,103,245$666,840$567,269$1,109,066
67$1,164,736$648,475$535,233$1,158,595
68$1,230,892$627,603$500,515$1,211,705
69$1,302,136$604,049$462,976$1,268,736
70$1,378,937$577,631$422,469$1,330,065
71$1,461,807$548,153$378,840$1,396,107
72$1,551,310$515,411$331,930$1,467,318
73$1,648,065$479,187$281,570$1,544,203
74$1,752,752$439,252$227,587$1,627,319
75$1,866,119$395,362$169,798$1,717,278
76$1,988,990$347,261$108,013$1,814,757
77$2,122,267$294,677$42,032$1,920,503
78$2,266,947$237,325$0$2,035,337
79$2,424,123$174,901$0$2,162,289
80$2,594,998$107,085$0$2,303,726
81$2,780,896$33,541$0$2,457,627
82$2,983,273$0$0$2,625,229
83$3,203,733$0$0$2,814,485
84$3,444,039$0$0$3,026,027
85$3,706,133$0$0$3,256,766
86$3,992,150$0$0$3,508,586
87$4,304,443$0$0$3,783,560
88$4,645,600$0$0$4,083,970
89$5,018,471$0$0$4,412,328
90$5,426,195$0$0$4,771,401
91$5,872,225$0$0$5,164,232
92$6,360,365$0$0$5,594,176
93$6,894,805$0$0$6,064,925
94$7,480,157$0$0$6,580,545
95$8,121,501$0$0$7,145,514
96$8,824,430$0$0$7,764,762
97$9,595,105$0$0$8,443,722
98$10,440,313$0$0$9,188,375
99$11,367,528$0$0$10,005,309
100$12,384,980$0$0$10,901,781