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%15.9%
1 years$57,227$56,718$56,220$55,735$55,261$53,925
2 years$28,330$27,803$27,291$26,796$26,315$24,977
3 years$18,699$18,169$17,659$17,168$16,695$15,397
4 years$13,885$13,356$12,851$12,369$11,907$10,659
5 years$10,997$10,472$9,973$9,500$9,052$7,857
6 years$9,072$8,551$8,060$7,598$7,162$6,022
7 years$7,698$7,181$6,698$6,246$5,825$4,739
8 years$6,668$6,155$5,680$5,240$4,832$3,801
9 years$5,867$5,359$4,892$4,463$4,069$3,091
10 years$5,226$4,724$4,265$3,847$3,467$2,542
11 years$4,703$4,206$3,755$3,348$2,982$2,107
12 years$4,267$3,775$3,333$2,937$2,584$1,759
13 years$3,898$3,411$2,977$2,593$2,253$1,476
14 years$3,583$3,101$2,675$2,302$1,975$1,244
15 years$3,309$2,833$2,415$2,053$1,739$1,052
16 years$3,070$2,599$2,190$1,838$1,537$893
17 years$2,860$2,393$1,993$1,651$1,363$760
18 years$2,673$2,212$1,819$1,488$1,212$648
19 years$2,506$2,050$1,665$1,345$1,080$553
20 years$2,355$1,905$1,528$1,218$965$473
21 years$2,220$1,774$1,406$1,105$863$405
22 years$2,096$1,656$1,296$1,005$774$347
23 years$1,984$1,549$1,196$915$695$298
24 years$1,881$1,451$1,106$835$624$256
25 years$1,787$1,362$1,025$762$562$220
26 years$1,700$1,280$950$697$506$189
27 years$1,619$1,205$882$638$456$163
28 years$1,545$1,135$820$585$412$140
29 years$1,475$1,071$763$536$372$120
30 years$1,411$1,011$711$492$336$104
31 years$1,350$956$663$452$304$89
32 years$1,294$905$619$415$275$77
33 years$1,241$857$578$382$249$66
34 years$1,191$812$540$351$225$57
35 years$1,145$770$505$323$204$49
36 years$1,101$731$472$298$185$42
37 years$1,059$694$442$274$167$37
38 years$1,020$660$414$253$152$32
39 years$983$627$388$233$138$27
40 years$947$597$363$215$125$23
41 years$914$568$341$198$113$20
42 years$882$541$320$183$103$17
43 years$852$516$300$169$93$15
44 years$823$491$281$156$85$13
45 years$796$469$264$144$77$11
46 years$770$447$248$133$70$10
47 years$745$427$233$123$63$8
48 years$721$407$219$114$58$7
49 years$698$389$206$105$52$6
50 years$677$372$194$97$47$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $693,000, adding $2,435 every year, while hoping to spend $46,777 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: 49/32/19 Blend
50$693,000$693,000$693,000$693,000
51$766,198$729,469$718,727$799,551
52$794,580$715,442$693,034$808,889
53$824,288$699,161$664,913$814,057
54$855,411$680,464$634,232$818,678
55$888,039$659,184$600,855$822,719
56$922,275$635,140$564,640$826,148
57$958,228$608,143$525,437$828,929
58$996,018$577,992$483,089$831,030
59$1,035,774$544,476$437,435$832,418
60$1,077,637$507,369$388,303$833,059
61$1,121,761$466,435$335,516$832,924
62$1,168,313$421,423$278,888$831,981
63$1,217,475$372,067$218,225$830,201
64$1,269,447$318,088$153,325$827,560
65$1,324,445$259,189$83,976$824,033
66$1,382,707$195,057$9,958$819,600
67$1,444,491$125,363$0$814,245
68$1,510,081$49,758$0$821,951
69$1,579,786$0$0$831,783
70$1,653,944$0$0$853,084
71$1,732,927$0$0$894,473
72$1,817,140$0$0$938,647
73$1,907,028$0$0$985,843
74$2,003,077$0$0$1,036,324
75$2,105,821$0$0$1,090,377
76$2,215,846$0$0$1,148,317
77$2,333,793$0$0$1,210,488
78$2,460,367$0$0$1,277,269
79$2,596,339$0$0$1,349,076
80$2,742,559$0$0$1,426,366
81$2,899,958$0$0$1,509,639
82$3,069,557$0$0$1,599,446
83$3,252,480$0$0$1,696,392
84$3,449,960$0$0$1,801,142
85$3,663,354$0$0$1,914,424
86$3,894,152$0$0$2,037,044
87$4,143,990$0$0$2,169,881
88$4,414,671$0$0$2,313,908
89$4,708,172$0$0$2,470,190
90$5,026,671$0$0$2,639,901
91$5,372,563$0$0$2,824,332
92$5,748,481$0$0$3,024,903
93$6,157,321$0$0$3,243,175
94$6,602,272$0$0$3,480,867
95$7,086,840$0$0$3,739,871
96$7,614,886$0$0$4,022,268
97$8,190,655$0$0$4,330,349
98$8,818,822$0$0$4,666,635
99$9,504,534$0$0$5,033,902
100$10,253,453$0$0$5,435,205