Can I retire at age 51 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$57,310$56,799$56,301$55,815$55,341$53,166
2 years$28,371$27,843$27,331$26,834$26,353$24,188
3 years$18,726$18,196$17,685$17,193$16,719$14,633
4 years$13,905$13,376$12,870$12,387$11,924$9,933
5 years$11,013$10,487$9,988$9,514$9,065$7,173
6 years$9,085$8,563$8,072$7,608$7,173$5,381
7 years$7,709$7,191$6,707$6,255$5,833$4,142
8 years$6,677$6,164$5,688$5,247$4,839$3,246
9 years$5,875$5,367$4,899$4,470$4,075$2,578
10 years$5,234$4,731$4,271$3,853$3,472$2,068
11 years$4,710$4,212$3,761$3,353$2,986$1,672
12 years$4,273$3,780$3,337$2,941$2,588$1,360
13 years$3,904$3,416$2,982$2,597$2,257$1,112
14 years$3,588$3,105$2,679$2,305$1,978$912
15 years$3,314$2,837$2,419$2,056$1,742$751
16 years$3,075$2,603$2,193$1,841$1,539$619
17 years$2,864$2,397$1,996$1,654$1,365$512
18 years$2,676$2,215$1,822$1,490$1,214$424
19 years$2,509$2,053$1,668$1,347$1,082$351
20 years$2,359$1,907$1,531$1,220$966$292
21 years$2,223$1,777$1,408$1,107$865$242
22 years$2,099$1,658$1,297$1,006$775$202
23 years$1,987$1,551$1,198$917$696$168
24 years$1,884$1,453$1,108$836$625$140
25 years$1,789$1,364$1,026$763$563$116
26 years$1,702$1,282$952$698$507$97
27 years$1,621$1,206$884$639$457$81
28 years$1,547$1,137$822$585$412$67
29 years$1,477$1,072$765$537$372$56
30 years$1,413$1,013$712$493$336$47
31 years$1,352$957$664$453$304$39
32 years$1,296$906$619$416$275$33
33 years$1,243$858$578$382$249$27
34 years$1,193$813$540$352$225$23
35 years$1,146$771$505$324$204$19
36 years$1,102$732$473$298$185$16
37 years$1,061$695$442$275$168$13
38 years$1,021$661$414$253$152$11
39 years$984$628$388$234$138$9
40 years$949$598$364$215$125$8
41 years$915$569$341$199$113$6
42 years$884$542$320$183$103$5
43 years$853$516$300$169$93$4
44 years$825$492$282$156$85$4
45 years$797$469$265$144$77$3
46 years$771$448$249$133$70$3
47 years$746$427$234$123$63$2
48 years$722$408$219$114$58$2
49 years$699$389$206$105$52$2
50 years$678$372$194$97$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $694,000, adding $3,335 every year, while hoping to spend $40,222 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: 64/23/13 Blend
50$694,000$694,000$694,000$694,000
51$768,228$731,446$720,689$814,842
52$803,791$724,491$702,036$839,480
53$841,634$715,847$681,410$861,423
54$881,946$705,389$658,703$884,392
55$924,936$692,984$633,801$908,490
56$970,831$678,492$606,585$933,825
57$1,019,881$661,764$576,931$960,523
58$1,072,361$642,642$544,710$988,720
59$1,128,569$620,959$509,785$1,018,570
60$1,188,836$596,538$472,015$1,050,244
61$1,253,522$569,193$431,253$1,083,931
62$1,323,024$538,727$387,342$1,119,844
63$1,397,777$504,929$340,123$1,158,216
64$1,478,258$467,579$289,425$1,199,308
65$1,564,993$426,443$235,074$1,243,411
66$1,658,558$381,273$176,884$1,290,848
67$1,759,585$331,810$114,663$1,341,974
68$1,868,769$277,776$48,212$1,397,189
69$1,986,877$218,880$0$1,456,933
70$2,114,748$154,814$0$1,524,844
71$2,253,305$85,253$0$1,605,657
72$2,403,566$9,854$0$1,693,311
73$2,566,646$0$0$1,788,506
74$2,743,774$0$0$1,910,176
75$2,936,303$0$0$2,045,176
76$3,145,719$0$0$2,192,062
77$3,373,657$0$0$2,351,986
78$3,621,918$0$0$2,526,217
79$3,892,482$0$0$2,716,150
80$4,187,529$0$0$2,923,323
81$4,509,458$0$0$3,149,427
82$4,860,911$0$0$3,396,323
83$5,244,793$0$0$3,666,060
84$5,664,306$0$0$3,960,894
85$6,122,972$0$0$4,283,311
86$6,624,671$0$0$4,636,043
87$7,173,673$0$0$5,022,103
88$7,774,682$0$0$5,444,806
89$8,432,876$0$0$5,907,804
90$9,153,960$0$0$6,415,118
91$9,944,213$0$0$6,971,177
92$10,810,554$0$0$7,580,858
93$11,760,600$0$0$8,249,533
94$12,802,743$0$0$8,983,119
95$13,946,226$0$0$9,788,132
96$15,201,228$0$0$10,671,752
97$16,578,963$0$0$11,641,887
98$18,091,785$0$0$12,707,246
99$19,753,300$0$0$13,877,424
100$21,578,499$0$0$15,162,994