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%11%
1 years$48,556$48,124$47,702$47,290$46,888$46,690
2 years$24,038$23,590$23,156$22,736$22,328$22,128
3 years$15,866$15,416$14,984$14,567$14,166$13,970
4 years$11,781$11,333$10,904$10,495$10,103$9,914
5 years$9,331$8,885$8,462$8,061$7,680$7,497
6 years$7,697$7,255$6,839$6,446$6,077$5,901
7 years$6,531$6,093$5,683$5,300$4,942$4,772
8 years$5,657$5,223$4,820$4,446$4,100$3,937
9 years$4,978$4,547$4,151$3,787$3,453$3,296
10 years$4,434$4,008$3,619$3,264$2,942$2,792
11 years$3,990$3,568$3,186$2,841$2,530$2,387
12 years$3,620$3,203$2,828$2,492$2,193$2,056
13 years$3,308$2,894$2,526$2,200$1,912$1,781
14 years$3,040$2,631$2,270$1,953$1,676$1,551
15 years$2,808$2,403$2,049$1,742$1,476$1,357
16 years$2,605$2,205$1,858$1,559$1,304$1,191
17 years$2,426$2,031$1,691$1,401$1,156$1,049
18 years$2,268$1,877$1,543$1,263$1,028$926
19 years$2,126$1,739$1,413$1,141$917$820
20 years$1,998$1,616$1,297$1,033$819$727
21 years$1,883$1,505$1,193$938$733$646
22 years$1,779$1,405$1,099$853$657$575
23 years$1,683$1,314$1,015$777$589$512
24 years$1,596$1,231$939$708$530$457
25 years$1,516$1,156$869$647$477$408
26 years$1,442$1,086$806$591$429$365
27 years$1,374$1,022$749$541$387$326
28 years$1,311$963$696$496$349$292
29 years$1,252$909$648$455$315$262
30 years$1,197$858$603$417$285$235
31 years$1,146$811$563$383$258$210
32 years$1,098$768$525$352$233$189
33 years$1,053$727$490$324$211$169
34 years$1,011$689$458$298$191$152
35 years$971$653$428$274$173$137
36 years$934$620$400$253$157$123
37 years$899$589$375$233$142$110
38 years$865$560$351$215$129$99
39 years$834$532$329$198$117$89
40 years$804$506$308$183$106$80
41 years$776$482$289$168$96$72
42 years$749$459$271$155$87$65
43 years$723$437$254$143$79$58
44 years$699$417$239$132$72$53
45 years$675$398$224$122$65$47
46 years$653$379$211$113$59$43
47 years$632$362$198$104$54$38
48 years$612$346$186$96$49$35
49 years$593$330$175$89$44$31
50 years$574$315$164$82$40$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 69 starting with $588,000, adding $2,181 every year, while hoping to spend $36,574 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: 43/28/29 Blend
68$588,000$588,000$588,000$588,000
69$650,226$619,062$609,948$672,606
70$677,634$610,481$591,466$680,304
71$706,613$600,255$571,140$685,023
72$737,283$588,262$548,869$689,444
73$769,776$574,378$524,547$693,561
74$804,239$558,469$498,065$697,372
75$840,830$540,392$469,308$700,876
76$879,721$519,997$438,157$704,075
77$921,103$497,127$404,485$706,974
78$965,182$471,614$368,163$709,584
79$1,012,187$443,279$329,052$711,919
80$1,062,366$411,935$287,011$713,999
81$1,115,991$377,384$241,890$715,850
82$1,173,362$339,416$193,533$717,507
83$1,234,806$297,809$141,778$719,010
84$1,300,683$252,328$86,454$720,410
85$1,371,388$202,727$27,385$721,768
86$1,447,352$148,743$0$723,158
87$1,529,051$90,101$0$735,697
88$1,617,007$26,508$0$758,214
89$1,711,792$0$0$782,408
90$1,814,035$0$0$821,527
91$1,924,428$0$0$872,639
92$2,043,729$0$0$927,934
93$2,172,775$0$0$987,807
94$2,312,481$0$0$1,052,693
95$2,463,857$0$0$1,123,066
96$2,628,011$0$0$1,199,452
97$2,806,164$0$0$1,282,427
98$2,999,657$0$0$1,372,625
99$3,209,965$0$0$1,470,745
100$3,438,710$0$0$1,577,553