Can I retire at age 51 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$49,382$48,942$48,513$48,094$47,685$47,089
2 years$24,447$23,991$23,550$23,122$22,707$22,108
3 years$16,136$15,679$15,238$14,815$14,406$13,822
4 years$11,981$11,525$11,090$10,673$10,275$9,710
5 years$9,489$9,036$8,606$8,198$7,811$7,267
6 years$7,828$7,379$6,955$6,556$6,180$5,658
7 years$6,643$6,197$5,780$5,390$5,026$4,526
8 years$5,754$5,312$4,902$4,522$4,170$3,691
9 years$5,062$4,625$4,222$3,851$3,512$3,055
10 years$4,510$4,076$3,681$3,320$2,992$2,556
11 years$4,058$3,629$3,240$2,889$2,573$2,159
12 years$3,682$3,257$2,876$2,534$2,230$1,836
13 years$3,364$2,944$2,569$2,237$1,945$1,570
14 years$3,091$2,676$2,308$1,986$1,705$1,350
15 years$2,856$2,444$2,084$1,771$1,501$1,165
16 years$2,649$2,243$1,890$1,586$1,326$1,009
17 years$2,468$2,065$1,720$1,425$1,176$876
18 years$2,306$1,908$1,570$1,284$1,046$763
19 years$2,162$1,769$1,437$1,160$932$666
20 years$2,032$1,644$1,319$1,051$833$582
21 years$1,915$1,531$1,213$954$745$509
22 years$1,809$1,429$1,118$867$668$446
23 years$1,712$1,337$1,032$790$599$392
24 years$1,623$1,252$955$720$539$344
25 years$1,542$1,175$884$658$485$303
26 years$1,467$1,105$820$602$437$266
27 years$1,397$1,039$762$551$394$234
28 years$1,333$979$708$504$355$207
29 years$1,273$924$659$463$321$182
30 years$1,217$873$614$425$290$161
31 years$1,165$825$572$390$262$142
32 years$1,117$781$534$358$237$125
33 years$1,071$739$498$330$215$110
34 years$1,028$701$466$303$194$98
35 years$988$665$435$279$176$86
36 years$950$631$407$257$159$76
37 years$914$599$381$237$144$67
38 years$880$569$357$218$131$59
39 years$848$541$334$201$119$53
40 years$818$515$313$186$108$46
41 years$789$490$294$171$98$41
42 years$761$467$276$158$89$36
43 years$735$445$259$146$80$32
44 years$711$424$243$135$73$28
45 years$687$404$228$124$66$25
46 years$664$386$214$115$60$22
47 years$643$368$201$106$55$20
48 years$622$351$189$98$50$17
49 years$603$336$178$91$45$15
50 years$584$321$167$84$41$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $598,000, adding $6,377 every year, while hoping to spend $39,225 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: 61/21/18 Blend
50$598,000$598,000$598,000$598,000
51$665,574$633,880$624,611$702,729
52$691,727$623,205$603,800$717,882
53$719,234$610,692$580,978$729,473
54$748,190$596,210$556,035$741,214
55$778,701$579,620$528,857$753,123
56$810,881$560,774$499,327$765,224
57$844,855$539,516$467,318$777,541
58$880,759$515,681$432,703$790,107
59$918,742$489,095$395,344$802,958
60$958,966$459,573$355,100$816,135
61$1,001,607$426,920$311,823$829,688
62$1,046,861$390,928$265,358$843,673
63$1,094,937$351,380$215,544$858,152
64$1,146,068$308,045$162,213$873,201
65$1,200,507$260,679$105,187$888,904
66$1,258,531$209,025$44,283$905,354
67$1,320,445$152,811$0$922,663
68$1,386,580$91,748$0$944,929
69$1,457,301$25,534$0$977,652
70$1,533,009$0$0$1,012,513
71$1,614,142$0$0$1,060,398
72$1,701,180$0$0$1,118,130
73$1,794,651$0$0$1,180,162
74$1,895,135$0$0$1,246,883
75$2,003,268$0$0$1,318,719
76$2,119,747$0$0$1,396,139
77$2,245,339$0$0$1,479,658
78$2,380,888$0$0$1,569,841
79$2,527,317$0$0$1,667,308
80$2,685,646$0$0$1,772,744
81$2,856,990$0$0$1,886,899
82$3,042,581$0$0$2,010,597
83$3,243,768$0$0$2,144,747
84$3,462,038$0$0$2,290,345
85$3,699,025$0$0$2,448,490
86$3,956,526$0$0$2,620,388
87$4,236,518$0$0$2,807,367
88$4,541,177$0$0$3,010,889
89$4,872,896$0$0$3,232,562
90$5,234,309$0$0$3,474,153
91$5,628,314$0$0$3,737,610
92$6,058,100$0$0$4,025,077
93$6,527,180$0$0$4,338,912
94$7,039,416$0$0$4,681,711
95$7,599,065$0$0$5,056,332
96$8,210,809$0$0$5,465,923
97$8,879,805$0$0$5,913,949
98$9,611,730$0$0$6,404,224
99$10,412,837$0$0$6,940,950
100$11,290,009$0$0$7,528,751