Can I retire at age 51 with 589,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17%
1 years$48,639$48,206$47,783$47,371$46,968$45,629
2 years$24,079$23,630$23,196$22,774$22,366$21,027
3 years$15,893$15,443$15,009$14,592$14,190$12,894
4 years$11,801$11,352$10,923$10,513$10,120$8,876
5 years$9,346$8,900$8,477$8,075$7,693$6,505
6 years$7,711$7,268$6,850$6,457$6,087$4,956
7 years$6,543$6,103$5,693$5,309$4,951$3,876
8 years$5,667$5,232$4,828$4,454$4,107$3,089
9 years$4,986$4,555$4,158$3,793$3,459$2,495
10 years$4,442$4,015$3,625$3,270$2,947$2,038
11 years$3,997$3,574$3,192$2,846$2,535$1,678
12 years$3,627$3,208$2,832$2,496$2,196$1,390
13 years$3,313$2,899$2,531$2,204$1,915$1,158
14 years$3,045$2,635$2,274$1,956$1,679$969
15 years$2,813$2,407$2,053$1,745$1,478$813
16 years$2,609$2,209$1,861$1,562$1,306$685
17 years$2,430$2,034$1,694$1,404$1,158$578
18 years$2,272$1,880$1,546$1,265$1,030$489
19 years$2,130$1,742$1,415$1,143$918$414
20 years$2,002$1,619$1,299$1,035$820$351
21 years$1,886$1,508$1,195$939$734$298
22 years$1,782$1,408$1,101$854$658$253
23 years$1,686$1,316$1,017$778$590$215
24 years$1,599$1,233$940$710$531$183
25 years$1,519$1,158$871$648$478$156
26 years$1,445$1,088$808$592$430$133
27 years$1,376$1,024$750$542$388$113
28 years$1,313$965$697$497$350$97
29 years$1,254$910$649$456$316$83
30 years$1,199$860$604$418$286$70
31 years$1,148$813$563$384$258$60
32 years$1,100$769$526$353$234$51
33 years$1,055$728$491$325$211$44
34 years$1,013$690$459$299$191$37
35 years$973$655$429$275$173$32
36 years$935$621$401$253$157$27
37 years$900$590$375$233$142$23
38 years$867$561$352$215$129$20
39 years$835$533$329$198$117$17
40 years$805$507$309$183$106$15
41 years$777$483$290$169$96$12
42 years$750$460$272$156$87$11
43 years$724$438$255$144$79$9
44 years$700$418$239$133$72$8
45 years$677$398$225$123$65$7
46 years$654$380$211$113$59$6
47 years$633$363$198$105$54$5
48 years$613$346$186$97$49$4
49 years$594$331$175$89$44$4
50 years$575$316$165$83$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $589,000, adding $6,762 every year, while hoping to spend $35,936 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: 49/25/26 Blend
50$589,000$589,000$589,000$589,000
51$656,053$624,836$615,707$683,070
52$684,735$617,217$598,097$695,035
53$715,138$608,021$578,693$703,912
54$747,399$597,132$557,397$712,843
55$781,670$584,427$534,106$721,849
56$818,115$569,778$508,713$730,957
57$856,913$553,048$481,105$740,198
58$898,263$534,092$451,167$749,610
59$942,379$512,756$418,774$759,235
60$989,499$488,878$383,800$769,125
61$1,039,881$462,286$346,111$779,339
62$1,093,810$432,800$305,567$789,945
63$1,151,598$400,226$262,022$801,022
64$1,213,585$364,362$215,325$812,661
65$1,280,148$324,993$165,316$824,965
66$1,351,698$281,892$111,829$838,053
67$1,428,687$234,820$54,690$852,059
68$1,511,611$183,524$0$867,136
69$1,601,014$127,736$0$885,203
70$1,697,497$67,174$0$921,015
71$1,801,715$1,539$0$959,662
72$1,914,393$0$0$1,001,451
73$2,036,324$0$0$1,065,838
74$2,168,382$0$0$1,136,084
75$2,311,527$0$0$1,212,283
76$2,466,816$0$0$1,295,005
77$2,635,408$0$0$1,384,875
78$2,818,581$0$0$1,482,582
79$3,017,740$0$0$1,588,883
80$3,234,431$0$0$1,704,612
81$3,470,354$0$0$1,830,685
82$3,727,381$0$0$1,968,113
83$4,007,571$0$0$2,118,004
84$4,313,189$0$0$2,281,583
85$4,646,732$0$0$2,460,195
86$5,010,944$0$0$2,655,320
87$5,408,849$0$0$2,868,590
88$5,843,773$0$0$3,101,801
89$6,319,382$0$0$3,356,928
90$6,839,708$0$0$3,636,148
91$7,409,194$0$0$3,941,858
92$8,032,730$0$0$4,276,698
93$8,715,702$0$0$4,643,574
94$9,464,042$0$0$5,045,686
95$10,284,281$0$0$5,486,561
96$11,183,615$0$0$5,970,081
97$12,169,966$0$0$6,500,522
98$13,252,063$0$0$7,082,595
99$14,439,517$0$0$7,721,489
100$15,742,917$0$0$8,422,919