Can I retire at age 51 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$57,227$56,718$56,220$55,735$55,261$54,913
2 years$28,330$27,803$27,291$26,796$26,315$25,963
3 years$18,699$18,169$17,659$17,168$16,695$16,352
4 years$13,885$13,356$12,851$12,369$11,907$11,574
5 years$10,997$10,472$9,973$9,500$9,052$8,730
6 years$9,072$8,551$8,060$7,598$7,162$6,853
7 years$7,698$7,181$6,698$6,246$5,825$5,527
8 years$6,668$6,155$5,680$5,240$4,832$4,547
9 years$5,867$5,359$4,892$4,463$4,069$3,796
10 years$5,226$4,724$4,265$3,847$3,467$3,206
11 years$4,703$4,206$3,755$3,348$2,982$2,732
12 years$4,267$3,775$3,333$2,937$2,584$2,346
13 years$3,898$3,411$2,977$2,593$2,253$2,026
14 years$3,583$3,101$2,675$2,302$1,975$1,759
15 years$3,309$2,833$2,415$2,053$1,739$1,533
16 years$3,070$2,599$2,190$1,838$1,537$1,342
17 years$2,860$2,393$1,993$1,651$1,363$1,177
18 years$2,673$2,212$1,819$1,488$1,212$1,036
19 years$2,506$2,050$1,665$1,345$1,080$914
20 years$2,355$1,905$1,528$1,218$965$807
21 years$2,220$1,774$1,406$1,105$863$715
22 years$2,096$1,656$1,296$1,005$774$634
23 years$1,984$1,549$1,196$915$695$562
24 years$1,881$1,451$1,106$835$624$500
25 years$1,787$1,362$1,025$762$562$445
26 years$1,700$1,280$950$697$506$396
27 years$1,619$1,205$882$638$456$353
28 years$1,545$1,135$820$585$412$315
29 years$1,475$1,071$763$536$372$281
30 years$1,411$1,011$711$492$336$251
31 years$1,350$956$663$452$304$224
32 years$1,294$905$619$415$275$200
33 years$1,241$857$578$382$249$179
34 years$1,191$812$540$351$225$160
35 years$1,145$770$505$323$204$143
36 years$1,101$731$472$298$185$128
37 years$1,059$694$442$274$167$115
38 years$1,020$660$414$253$152$103
39 years$983$627$388$233$138$92
40 years$947$597$363$215$125$82
41 years$914$568$341$198$113$74
42 years$882$541$320$183$103$66
43 years$852$516$300$169$93$59
44 years$823$491$281$156$85$53
45 years$796$469$264$144$77$47
46 years$770$447$248$133$70$43
47 years$745$427$233$123$63$38
48 years$721$407$219$114$58$34
49 years$698$389$206$105$52$31
50 years$677$372$194$97$47$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $693,000, adding $3,332 every year, while hoping to spend $26,323 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: 41/48/11 Blend
50$693,000$693,000$693,000$693,000
51$767,123$730,394$719,652$795,946
52$817,362$738,176$715,753$824,290
53$871,843$745,457$710,841$852,075
54$930,972$752,184$704,855$881,560
55$995,192$758,303$697,729$912,912
56$1,064,995$763,753$689,396$946,314
57$1,140,919$768,472$679,786$981,970
58$1,223,557$772,391$668,823$1,020,106
59$1,313,562$775,440$656,430$1,060,971
60$1,411,651$777,542$642,526$1,104,843
61$1,518,614$778,616$627,025$1,152,028
62$1,635,321$778,577$609,839$1,202,866
63$1,762,729$777,333$590,874$1,257,732
64$1,901,892$774,787$570,033$1,317,043
65$2,053,970$770,836$547,214$1,381,259
66$2,220,239$765,371$522,310$1,450,891
67$2,402,106$758,277$495,210$1,526,503
68$2,601,118$749,430$465,797$1,608,719
69$2,818,980$738,700$433,949$1,698,231
70$3,057,570$725,950$399,540$1,795,802
71$3,318,954$711,034$362,437$1,902,278
72$3,605,409$693,796$322,500$2,018,594
73$3,919,442$674,073$279,585$2,145,784
74$4,263,814$651,691$233,540$2,284,990
75$4,641,566$626,467$184,207$2,437,478
76$5,056,049$598,207$131,420$2,604,643
77$5,510,951$566,705$75,009$2,788,031
78$6,010,339$531,744$14,792$2,989,347
79$6,558,687$493,094$0$3,210,477
80$7,160,930$450,511$0$3,459,312
81$7,822,498$403,740$0$3,734,577
82$8,549,378$352,508$0$4,037,103
83$9,348,162$296,529$0$4,369,723
84$10,226,115$235,499$0$4,735,567
85$11,191,239$169,099$0$5,138,090
86$12,252,351$96,990$0$5,581,103
87$13,419,163$18,815$0$6,068,817
88$14,702,378$0$0$6,605,876
89$16,113,787$0$0$7,232,163
90$17,666,380$0$0$7,932,132
91$19,374,471$0$0$8,702,310
92$21,253,829$0$0$9,549,821
93$23,321,832$0$0$10,482,514
94$25,597,625$0$0$11,509,038
95$28,102,303$0$0$12,638,922
96$30,859,110$0$0$13,882,667
97$33,893,658$0$0$15,251,844
98$37,234,169$0$0$16,759,201
99$40,911,737$0$0$18,418,785
100$44,960,626$0$0$20,246,077