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%19.1%
1 years$57,723$57,209$56,707$56,217$55,739$53,698
2 years$28,576$28,043$27,528$27,028$26,542$24,508
3 years$18,861$18,327$17,812$17,317$16,840$14,877
4 years$14,005$13,472$12,963$12,476$12,010$10,134
5 years$11,092$10,562$10,060$9,583$9,130$7,345
6 years$9,151$8,625$8,130$7,663$7,224$5,532
7 years$7,764$7,243$6,756$6,300$5,875$4,275
8 years$6,725$6,209$5,729$5,285$4,874$3,364
9 years$5,917$5,406$4,935$4,502$4,105$2,684
10 years$5,272$4,765$4,302$3,881$3,497$2,163
11 years$4,744$4,242$3,788$3,377$3,008$1,756
12 years$4,304$3,807$3,361$2,962$2,607$1,435
13 years$3,932$3,441$3,003$2,615$2,273$1,179
14 years$3,614$3,128$2,698$2,322$1,992$972
15 years$3,338$2,857$2,436$2,070$1,754$804
16 years$3,097$2,621$2,209$1,854$1,550$666
17 years$2,884$2,414$2,010$1,666$1,375$554
18 years$2,696$2,231$1,835$1,501$1,222$461
19 years$2,527$2,067$1,680$1,356$1,090$384
20 years$2,376$1,921$1,542$1,228$973$321
21 years$2,239$1,789$1,418$1,115$871$268
22 years$2,114$1,670$1,307$1,014$781$224
23 years$2,001$1,562$1,207$923$701$187
24 years$1,897$1,464$1,116$842$630$157
25 years$1,802$1,374$1,034$769$567$131
26 years$1,714$1,291$959$703$511$110
27 years$1,633$1,215$890$644$460$92
28 years$1,558$1,145$827$590$415$77
29 years$1,488$1,080$770$541$375$65
30 years$1,423$1,020$717$496$339$54
31 years$1,362$964$669$456$306$46
32 years$1,305$912$624$419$277$38
33 years$1,252$864$583$385$251$32
34 years$1,202$819$544$354$227$27
35 years$1,155$777$509$326$206$23
36 years$1,110$737$476$300$186$19
37 years$1,068$700$446$277$169$16
38 years$1,029$665$417$255$153$13
39 years$991$633$391$235$139$11
40 years$956$602$366$217$126$9
41 years$922$573$344$200$114$8
42 years$890$546$322$185$104$7
43 years$859$520$302$171$94$6
44 years$831$496$284$157$85$5
45 years$803$473$267$145$78$4
46 years$777$451$250$134$70$3
47 years$751$430$235$124$64$3
48 years$727$411$221$115$58$2
49 years$704$392$208$106$53$2
50 years$682$375$195$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $699,000, adding $5,409 every year, while hoping to spend $47,150 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: 36/45/19 Blend
58$699,000$699,000$699,000$699,000
59$775,877$738,830$727,996$799,160
60$804,850$724,866$702,217$802,631
61$835,197$708,637$673,993$801,571
62$867,009$689,982$643,194$799,444
63$900,385$668,733$609,683$796,183
64$935,431$644,707$573,314$791,716
65$972,263$617,716$533,937$785,971
66$1,011,006$587,556$491,397$778,871
67$1,051,798$554,015$445,527$770,338
68$1,094,787$516,867$396,158$760,290
69$1,140,135$475,874$343,109$748,645
70$1,188,020$430,783$286,195$735,317
71$1,238,634$381,328$225,218$720,218
72$1,292,188$327,226$159,977$703,259
73$1,348,912$268,181$90,257$684,349
74$1,409,057$203,878$15,836$663,395
75$1,472,897$133,984$0$640,305
76$1,540,733$58,149$0$627,875
77$1,612,892$0$0$617,384
78$1,689,733$0$0$617,460
79$1,771,651$0$0$648,292
80$1,859,076$0$0$681,257
81$1,952,480$0$0$716,539
82$2,052,380$0$0$754,343
83$2,159,344$0$0$794,891
84$2,273,992$0$0$838,429
85$2,397,009$0$0$885,225
86$2,529,141$0$0$935,575
87$2,671,212$0$0$989,802
88$2,824,123$0$0$1,048,263
89$2,988,866$0$0$1,111,347
90$3,166,527$0$0$1,179,486
91$3,358,303$0$0$1,253,150
92$3,565,507$0$0$1,332,858
93$3,789,582$0$0$1,419,181
94$4,032,116$0$0$1,512,746
95$4,294,852$0$0$1,614,242
96$4,579,707$0$0$1,724,428
97$4,888,792$0$0$1,844,136
98$5,224,425$0$0$1,974,285
99$5,589,158$0$0$2,115,884
100$5,985,796$0$0$2,270,042