Can I retire at age 51 with 594,000?

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 $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$49,052$48,615$48,189$47,773$47,366$46,203
2 years$24,283$23,831$23,393$22,968$22,555$21,390
3 years$16,028$15,574$15,137$14,716$14,310$13,180
4 years$11,901$11,448$11,016$10,602$10,206$9,119
5 years$9,426$8,976$8,549$8,143$7,758$6,718
6 years$7,776$7,329$6,908$6,512$6,139$5,146
7 years$6,598$6,155$5,741$5,354$4,993$4,048
8 years$5,715$5,276$4,869$4,491$4,142$3,245
9 years$5,029$4,594$4,193$3,826$3,488$2,637
10 years$4,480$4,049$3,656$3,298$2,972$2,167
11 years$4,031$3,605$3,219$2,870$2,556$1,795
12 years$3,657$3,235$2,856$2,517$2,215$1,498
13 years$3,341$2,924$2,552$2,222$1,932$1,256
14 years$3,071$2,658$2,293$1,973$1,693$1,058
15 years$2,836$2,428$2,070$1,759$1,491$894
16 years$2,632$2,228$1,877$1,575$1,318$758
17 years$2,451$2,051$1,708$1,415$1,168$645
18 years$2,291$1,896$1,559$1,276$1,039$549
19 years$2,148$1,757$1,427$1,153$926$469
20 years$2,019$1,633$1,310$1,044$827$400
21 years$1,902$1,521$1,205$947$740$343
22 years$1,797$1,420$1,111$861$663$294
23 years$1,701$1,328$1,025$785$595$252
24 years$1,612$1,244$948$716$535$216
25 years$1,531$1,167$878$653$482$185
26 years$1,457$1,097$815$597$434$159
27 years$1,388$1,033$756$547$391$137
28 years$1,324$973$703$501$353$118
29 years$1,264$918$654$460$319$101
30 years$1,209$867$610$422$288$87
31 years$1,157$819$568$387$260$75
32 years$1,109$775$530$356$235$65
33 years$1,064$734$495$327$213$56
34 years$1,021$696$463$301$193$48
35 years$981$660$432$277$175$41
36 years$943$626$405$255$158$36
37 years$908$595$379$235$144$31
38 years$874$565$355$217$130$26
39 years$842$538$332$200$118$23
40 years$812$512$311$184$107$20
41 years$783$487$292$170$97$17
42 years$756$464$274$157$88$15
43 years$730$442$257$145$80$13
44 years$706$421$241$134$73$11
45 years$682$402$227$124$66$9
46 years$660$383$213$114$60$8
47 years$639$366$200$105$54$7
48 years$618$349$188$97$49$6
49 years$599$333$177$90$45$5
50 years$580$318$166$83$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $594,000, adding $3,355 every year, while hoping to spend $38,695 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: 74/14/12 Blend
50$594,000$594,000$594,000$594,000
51$658,049$626,567$617,360$704,909
52$683,998$616,097$596,870$725,846
53$711,298$603,818$574,397$743,630
54$740,045$589,599$549,834$762,054
55$770,344$573,304$523,067$781,168
56$802,310$554,787$493,981$801,032
57$836,068$533,894$462,452$821,710
58$871,755$510,463$428,353$843,273
59$909,521$484,322$391,549$865,801
60$949,527$455,289$351,900$889,383
61$991,951$423,171$309,262$914,118
62$1,036,988$387,764$263,480$940,116
63$1,084,851$348,855$214,397$967,498
64$1,135,771$306,214$161,845$996,400
65$1,190,004$259,603$105,651$1,026,974
66$1,247,828$208,766$45,633$1,059,386
67$1,309,547$153,437$0$1,093,823
68$1,375,497$93,331$0$1,132,850
69$1,446,043$28,150$0$1,180,727
70$1,521,588$0$0$1,231,885
71$1,602,573$0$0$1,293,171
72$1,689,479$0$0$1,363,610
73$1,782,839$0$0$1,439,298
74$1,883,234$0$0$1,520,709
75$1,991,303$0$0$1,608,364
76$2,107,748$0$0$1,702,835
77$2,233,342$0$0$1,804,750
78$2,368,929$0$0$1,914,799
79$2,515,442$0$0$2,033,741
80$2,673,903$0$0$2,162,410
81$2,845,436$0$0$2,301,722
82$3,031,278$0$0$2,452,684
83$3,232,787$0$0$2,616,404
84$3,451,458$0$0$2,794,100
85$3,688,935$0$0$2,987,112
86$3,947,026$0$0$3,196,914
87$4,227,719$0$0$3,425,126
88$4,533,202$0$0$3,673,534
89$4,865,885$0$0$3,944,098
90$5,228,415$0$0$4,238,981
91$5,623,708$0$0$4,560,557
92$6,054,975$0$0$4,911,444
93$6,525,747$0$0$5,294,522
94$7,039,912$0$0$5,712,960
95$7,601,751$0$0$6,170,248
96$8,215,976$0$0$6,670,228
97$8,887,776$0$0$7,217,130
98$9,622,863$0$0$7,815,613
99$10,427,527$0$0$8,470,805
100$11,308,697$0$0$9,188,353