Can I retire at age 51 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%17.6%
1 years$48,556$48,124$47,702$47,290$46,888$45,442
2 years$24,038$23,590$23,156$22,736$22,328$20,883
3 years$15,866$15,416$14,984$14,567$14,166$12,768
4 years$11,781$11,333$10,904$10,495$10,103$8,763
5 years$9,331$8,885$8,462$8,061$7,680$6,402
6 years$7,697$7,255$6,839$6,446$6,077$4,862
7 years$6,531$6,093$5,683$5,300$4,942$3,789
8 years$5,657$5,223$4,820$4,446$4,100$3,009
9 years$4,978$4,547$4,151$3,787$3,453$2,422
10 years$4,434$4,008$3,619$3,264$2,942$1,970
11 years$3,990$3,568$3,186$2,841$2,530$1,616
12 years$3,620$3,203$2,828$2,492$2,193$1,334
13 years$3,308$2,894$2,526$2,200$1,912$1,106
14 years$3,040$2,631$2,270$1,953$1,676$922
15 years$2,808$2,403$2,049$1,742$1,476$771
16 years$2,605$2,205$1,858$1,559$1,304$646
17 years$2,426$2,031$1,691$1,401$1,156$543
18 years$2,268$1,877$1,543$1,263$1,028$457
19 years$2,126$1,739$1,413$1,141$917$385
20 years$1,998$1,616$1,297$1,033$819$325
21 years$1,883$1,505$1,193$938$733$275
22 years$1,779$1,405$1,099$853$657$233
23 years$1,683$1,314$1,015$777$589$197
24 years$1,596$1,231$939$708$530$167
25 years$1,516$1,156$869$647$477$141
26 years$1,442$1,086$806$591$429$120
27 years$1,374$1,022$749$541$387$102
28 years$1,311$963$696$496$349$86
29 years$1,252$909$648$455$315$73
30 years$1,197$858$603$417$285$62
31 years$1,146$811$563$383$258$53
32 years$1,098$768$525$352$233$45
33 years$1,053$727$490$324$211$38
34 years$1,011$689$458$298$191$32
35 years$971$653$428$274$173$28
36 years$934$620$400$253$157$23
37 years$899$589$375$233$142$20
38 years$865$560$351$215$129$17
39 years$834$532$329$198$117$14
40 years$804$506$308$183$106$12
41 years$776$482$289$168$96$10
42 years$749$459$271$155$87$9
43 years$723$437$254$143$79$8
44 years$699$417$239$132$72$6
45 years$675$398$224$122$65$5
46 years$653$379$211$113$59$5
47 years$632$362$198$104$54$4
48 years$612$346$186$96$49$3
49 years$593$330$175$89$44$3
50 years$574$315$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $588,000, adding $2,781 every year, while hoping to spend $30,794 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: 58/37/5 Blend
50$588,000$588,000$588,000$588,000
51$650,845$619,681$610,567$687,835
52$684,466$617,280$598,256$710,571
53$720,485$613,730$584,501$731,585
54$759,113$608,942$569,220$753,711
55$800,583$602,821$552,330$777,055
56$845,151$595,267$533,741$801,738
57$893,096$586,174$513,361$827,892
58$944,726$575,431$491,093$855,667
59$1,000,379$562,919$466,835$885,226
60$1,060,426$548,510$440,483$916,753
61$1,125,276$532,073$411,925$950,452
62$1,195,376$513,467$381,046$986,547
63$1,271,218$492,541$347,726$1,025,290
64$1,353,345$469,138$311,837$1,066,959
65$1,442,352$443,091$273,249$1,111,863
66$1,538,892$414,223$231,823$1,160,344
67$1,643,686$382,347$187,417$1,212,784
68$1,757,526$347,266$139,879$1,269,603
69$1,881,283$308,771$89,054$1,331,269
70$2,015,914$266,641$34,777$1,398,301
71$2,162,473$220,642$0$1,471,273
72$2,322,121$170,530$0$1,552,057
73$2,496,135$116,043$0$1,642,184
74$2,685,917$56,906$0$1,740,587
75$2,893,016$0$0$1,848,142
76$3,119,133$0$0$1,968,738
77$3,366,141$0$0$2,125,831
78$3,636,103$0$0$2,297,571
79$3,931,289$0$0$2,485,409
80$4,254,200$0$0$2,690,940
81$4,607,588$0$0$2,915,924
82$4,994,485$0$0$3,162,298
83$5,418,229$0$0$3,432,193
84$5,882,495$0$0$3,727,959
85$6,391,331$0$0$4,052,183
86$6,949,197$0$0$4,407,712
87$7,561,003$0$0$4,797,685
88$8,232,157$0$0$5,225,557
89$8,968,616$0$0$5,695,135
90$9,776,943$0$0$6,210,612
91$10,664,365$0$0$6,776,606
92$11,638,845$0$0$7,398,206
93$12,709,154$0$0$8,081,017
94$13,884,952$0$0$8,831,212
95$15,176,886$0$0$9,655,595
96$16,596,680$0$0$10,561,657
97$18,157,254$0$0$11,557,656
98$19,872,839$0$0$12,652,685
99$21,759,115$0$0$13,856,767
100$23,833,358$0$0$15,180,940