Can I retire at age 51 with 694,000?

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 $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%18.2%
1 years$57,310$56,799$56,301$55,815$55,341$53,505
2 years$28,371$27,843$27,331$26,834$26,353$24,521
3 years$18,726$18,196$17,685$17,193$16,719$14,949
4 years$13,905$13,376$12,870$12,387$11,924$10,229
5 years$11,013$10,487$9,988$9,514$9,065$7,449
6 years$9,085$8,563$8,072$7,608$7,173$5,638
7 years$7,709$7,191$6,707$6,255$5,833$4,380
8 years$6,677$6,164$5,688$5,247$4,839$3,465
9 years$5,875$5,367$4,899$4,470$4,075$2,779
10 years$5,234$4,731$4,271$3,853$3,472$2,252
11 years$4,710$4,212$3,761$3,353$2,986$1,840
12 years$4,273$3,780$3,337$2,941$2,588$1,513
13 years$3,904$3,416$2,982$2,597$2,257$1,250
14 years$3,588$3,105$2,679$2,305$1,978$1,037
15 years$3,314$2,837$2,419$2,056$1,742$863
16 years$3,075$2,603$2,193$1,841$1,539$720
17 years$2,864$2,397$1,996$1,654$1,365$603
18 years$2,676$2,215$1,822$1,490$1,214$505
19 years$2,509$2,053$1,668$1,347$1,082$424
20 years$2,359$1,907$1,531$1,220$966$356
21 years$2,223$1,777$1,408$1,107$865$300
22 years$2,099$1,658$1,297$1,006$775$252
23 years$1,987$1,551$1,198$917$696$213
24 years$1,884$1,453$1,108$836$625$179
25 years$1,789$1,364$1,026$763$563$151
26 years$1,702$1,282$952$698$507$128
27 years$1,621$1,206$884$639$457$108
28 years$1,547$1,137$822$585$412$91
29 years$1,477$1,072$765$537$372$77
30 years$1,413$1,013$712$493$336$65
31 years$1,352$957$664$453$304$55
32 years$1,296$906$619$416$275$46
33 years$1,243$858$578$382$249$39
34 years$1,193$813$540$352$225$33
35 years$1,146$771$505$324$204$28
36 years$1,102$732$473$298$185$24
37 years$1,061$695$442$275$168$20
38 years$1,021$661$414$253$152$17
39 years$984$628$388$234$138$14
40 years$949$598$364$215$125$12
41 years$915$569$341$199$113$10
42 years$884$542$320$183$103$9
43 years$853$516$300$169$93$7
44 years$825$492$282$156$85$6
45 years$797$469$265$144$77$5
46 years$771$448$249$133$70$4
47 years$746$427$234$123$63$4
48 years$722$408$219$114$58$3
49 years$699$389$206$105$52$3
50 years$678$372$194$97$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $694,000, adding $4,530 every year, while hoping to spend $45,850 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: 58/25/17 Blend
50$694,000$694,000$694,000$694,000
51$769,461$732,679$721,922$810,431
52$799,162$719,796$697,322$825,836
53$830,355$704,745$670,362$837,209
54$863,146$687,372$640,913$848,559
55$897,646$667,512$608,843$859,893
56$933,978$644,993$574,011$871,220
57$972,277$619,630$536,274$882,552
58$1,012,688$591,231$495,477$893,903
59$1,055,369$559,589$451,463$905,295
60$1,100,495$524,487$404,065$916,752
61$1,148,254$485,695$353,110$928,304
62$1,198,854$442,971$298,417$939,988
63$1,252,518$396,059$239,796$951,848
64$1,309,496$344,686$177,049$963,935
65$1,370,055$288,566$109,971$976,312
66$1,434,491$227,397$38,346$989,048
67$1,503,128$160,858$0$1,002,229
68$1,576,319$88,612$0$1,022,859
69$1,654,451$10,302$0$1,052,012
70$1,737,950$0$0$1,082,898
71$1,827,279$0$0$1,136,191
72$1,922,950$0$0$1,196,340
73$2,025,522$0$0$1,260,869
74$2,135,609$0$0$1,330,169
75$2,253,885$0$0$1,404,669
76$2,381,088$0$0$1,484,841
77$2,518,032$0$0$1,571,202
78$2,665,607$0$0$1,664,322
79$2,824,792$0$0$1,764,826
80$2,996,665$0$0$1,873,399
81$3,182,407$0$0$1,990,796
82$3,383,316$0$0$2,117,846
83$3,600,822$0$0$2,255,461
84$3,836,495$0$0$2,404,643
85$4,092,060$0$0$2,566,495
86$4,369,417$0$0$2,742,227
87$4,670,653$0$0$2,933,173
88$4,998,065$0$0$3,140,800
89$5,354,180$0$0$3,366,721
90$5,741,778$0$0$3,612,711
91$6,163,916$0$0$3,880,723
92$6,623,962$0$0$4,172,907
93$7,125,619$0$0$4,491,630
94$7,672,965$0$0$4,839,493
95$8,270,487$0$0$5,219,366
96$8,923,125$0$0$5,634,401
97$9,636,317$0$0$6,088,075
98$10,416,050$0$0$6,584,210
99$11,268,915$0$0$7,127,018
100$12,202,172$0$0$7,721,137