Can I retire at age 51 with 693,000?

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 $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%13%
1 years$57,227$56,718$56,220$55,735$55,261$54,570
2 years$28,330$27,803$27,291$26,796$26,315$25,620
3 years$18,699$18,169$17,659$17,168$16,695$16,018
4 years$13,885$13,356$12,851$12,369$11,907$11,252
5 years$10,997$10,472$9,973$9,500$9,052$8,421
6 years$9,072$8,551$8,060$7,598$7,162$6,557
7 years$7,698$7,181$6,698$6,246$5,825$5,245
8 years$6,668$6,155$5,680$5,240$4,832$4,278
9 years$5,867$5,359$4,892$4,463$4,069$3,540
10 years$5,226$4,724$4,265$3,847$3,467$2,963
11 years$4,703$4,206$3,755$3,348$2,982$2,502
12 years$4,267$3,775$3,333$2,937$2,584$2,127
13 years$3,898$3,411$2,977$2,593$2,253$1,820
14 years$3,583$3,101$2,675$2,302$1,975$1,564
15 years$3,309$2,833$2,415$2,053$1,739$1,350
16 years$3,070$2,599$2,190$1,838$1,537$1,169
17 years$2,860$2,393$1,993$1,651$1,363$1,015
18 years$2,673$2,212$1,819$1,488$1,212$884
19 years$2,506$2,050$1,665$1,345$1,080$771
20 years$2,355$1,905$1,528$1,218$965$674
21 years$2,220$1,774$1,406$1,105$863$590
22 years$2,096$1,656$1,296$1,005$774$517
23 years$1,984$1,549$1,196$915$695$454
24 years$1,881$1,451$1,106$835$624$399
25 years$1,787$1,362$1,025$762$562$351
26 years$1,700$1,280$950$697$506$309
27 years$1,619$1,205$882$638$456$272
28 years$1,545$1,135$820$585$412$239
29 years$1,475$1,071$763$536$372$211
30 years$1,411$1,011$711$492$336$186
31 years$1,350$956$663$452$304$164
32 years$1,294$905$619$415$275$145
33 years$1,241$857$578$382$249$128
34 years$1,191$812$540$351$225$113
35 years$1,145$770$505$323$204$100
36 years$1,101$731$472$298$185$88
37 years$1,059$694$442$274$167$78
38 years$1,020$660$414$253$152$69
39 years$983$627$388$233$138$61
40 years$947$597$363$215$125$54
41 years$914$568$341$198$113$48
42 years$882$541$320$183$103$42
43 years$852$516$300$169$93$37
44 years$823$491$281$156$85$33
45 years$796$469$264$144$77$29
46 years$770$447$248$133$70$26
47 years$745$427$233$123$63$23
48 years$721$407$219$114$58$20
49 years$698$389$206$105$52$18
50 years$677$372$194$97$47$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $693,000, adding $2,026 every year, while hoping to spend $56,637 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: 39/37/24 Blend
50$693,000$693,000$693,000$693,000
51$765,776$729,047$718,305$790,111
52$783,624$704,509$682,107$783,391
53$801,394$676,870$642,798$770,676
54$819,018$645,919$600,214$755,804
55$836,421$611,432$554,184$738,614
56$853,515$573,172$504,529$718,931
57$870,204$530,887$451,061$696,572
58$886,379$484,315$393,585$671,337
59$901,917$433,173$331,898$643,015
60$916,681$377,168$265,785$611,380
61$930,519$315,985$195,025$576,189
62$943,258$249,295$119,385$537,184
63$954,709$176,749$38,623$494,086
64$964,657$97,977$0$446,599
65$972,866$12,592$0$406,584
66$979,072$0$0$372,867
67$982,980$0$0$367,748
68$984,264$0$0$366,577
69$982,561$0$0$364,067
70$977,469$0$0$360,045
71$968,540$0$0$354,315
72$955,278$0$0$346,664
73$937,133$0$0$336,854
74$913,498$0$0$324,619
75$883,695$0$0$309,669
76$846,979$0$0$291,681
77$802,522$0$0$270,296
78$749,409$0$0$245,118
79$686,627$0$0$215,711
80$613,055$0$0$181,591
81$527,456$0$0$142,223
82$428,459$0$0$97,015
83$314,552$0$0$45,315
84$184,061$0$0$0
85$35,139$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0