Can I retire at age 51 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$48,722$48,288$47,864$47,451$47,047$46,249
2 years$24,120$23,670$23,235$22,813$22,404$21,602
3 years$15,920$15,469$15,035$14,616$14,214$13,433
4 years$11,821$11,371$10,941$10,530$10,137$9,384
5 years$9,362$8,915$8,491$8,088$7,706$6,983
6 years$7,724$7,280$6,862$6,468$6,098$5,405
7 years$6,554$6,114$5,702$5,318$4,959$4,297
8 years$5,677$5,241$4,836$4,461$4,114$3,482
9 years$4,995$4,563$4,165$3,800$3,465$2,863
10 years$4,450$4,022$3,631$3,276$2,952$2,380
11 years$4,004$3,580$3,197$2,851$2,539$1,996
12 years$3,633$3,214$2,837$2,500$2,200$1,686
13 years$3,319$2,904$2,535$2,208$1,919$1,432
14 years$3,050$2,640$2,278$1,960$1,682$1,221
15 years$2,817$2,412$2,056$1,748$1,481$1,046
16 years$2,614$2,213$1,864$1,565$1,309$899
17 years$2,435$2,038$1,697$1,406$1,160$775
18 years$2,275$1,883$1,549$1,267$1,032$669
19 years$2,133$1,745$1,418$1,145$920$579
20 years$2,005$1,622$1,301$1,037$821$502
21 years$1,890$1,510$1,197$941$735$436
22 years$1,785$1,410$1,103$856$659$379
23 years$1,689$1,319$1,018$779$591$330
24 years$1,602$1,236$942$711$532$287
25 years$1,521$1,159$872$649$478$250
26 years$1,447$1,090$809$593$431$218
27 years$1,378$1,026$751$543$389$191
28 years$1,315$966$698$498$351$166
29 years$1,256$912$650$456$317$145
30 years$1,201$861$605$419$286$127
31 years$1,150$814$564$385$259$111
32 years$1,102$770$527$354$234$97
33 years$1,057$729$492$325$212$85
34 years$1,014$691$459$299$192$74
35 years$975$656$430$275$174$65
36 years$937$622$402$254$157$57
37 years$902$591$376$234$143$50
38 years$868$562$352$215$129$44
39 years$837$534$330$199$117$38
40 years$807$508$309$183$106$34
41 years$778$484$290$169$96$29
42 years$751$461$272$156$88$26
43 years$725$439$255$144$79$23
44 years$701$418$240$133$72$20
45 years$678$399$225$123$65$17
46 years$655$381$211$113$59$15
47 years$634$363$199$105$54$13
48 years$614$347$187$97$49$12
49 years$595$331$175$89$45$10
50 years$576$316$165$83$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $590,000, adding $3,404 every year, while hoping to spend $32,480 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: 42/31/27 Blend
50$590,000$590,000$590,000$590,000
51$653,691$622,421$613,276$675,856
52$685,809$618,361$599,263$688,044
53$720,115$613,014$583,691$697,911
54$756,797$606,282$566,474$707,971
55$796,062$598,061$547,523$718,260
56$838,137$588,243$526,742$728,823
57$883,272$576,712$504,033$739,709
58$931,739$563,344$479,291$750,976
59$983,838$548,011$452,410$762,690
60$1,039,900$530,573$423,275$774,928
61$1,100,284$510,886$391,770$787,776
62$1,165,388$488,794$357,769$801,334
63$1,235,649$464,136$321,146$815,715
64$1,311,545$436,739$281,764$831,047
65$1,393,603$406,420$239,484$847,475
66$1,482,402$372,986$194,158$865,163
67$1,578,578$336,233$145,633$884,298
68$1,682,830$295,946$93,749$905,087
69$1,795,928$251,896$38,339$927,767
70$1,918,718$203,844$0$952,602
71$2,052,130$151,535$0$985,880
72$2,197,188$94,701$0$1,034,121
73$2,355,017$33,057$0$1,086,696
74$2,526,857$0$0$1,144,080
75$2,714,070$0$0$1,218,297
76$2,918,158$0$0$1,311,564
77$3,140,772$0$0$1,413,367
78$3,383,728$0$0$1,524,547
79$3,649,028$0$0$1,646,029
80$3,938,873$0$0$1,778,830
81$4,255,688$0$0$1,924,071
82$4,602,143$0$0$2,082,987
83$4,981,176$0$0$2,256,936
84$5,396,022$0$0$2,447,414
85$5,850,247$0$0$2,656,070
86$6,347,773$0$0$2,884,717
87$6,892,922$0$0$3,135,355
88$7,490,452$0$0$3,410,185
89$8,145,606$0$0$3,711,631
90$8,864,157$0$0$4,042,363
91$9,652,462$0$0$4,405,321
92$10,517,525$0$0$4,803,747
93$11,467,061$0$0$5,241,209
94$12,509,567$0$0$5,721,637
95$13,654,404$0$0$6,249,362
96$14,911,884$0$0$6,829,155
97$16,293,365$0$0$7,466,271
98$17,811,362$0$0$8,166,500
99$19,479,661$0$0$8,936,220
100$21,313,451$0$0$9,782,459