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%16.4%
1 years$57,310$56,799$56,301$55,815$55,341$53,893
2 years$28,371$27,843$27,331$26,834$26,353$24,905
3 years$18,726$18,196$17,685$17,193$16,719$15,315
4 years$13,905$13,376$12,870$12,387$11,924$10,576
5 years$11,013$10,487$9,988$9,514$9,065$7,775
6 years$9,085$8,563$8,072$7,608$7,173$5,943
7 years$7,709$7,191$6,707$6,255$5,833$4,664
8 years$6,677$6,164$5,688$5,247$4,839$3,729
9 years$5,875$5,367$4,899$4,470$4,075$3,024
10 years$5,234$4,731$4,271$3,853$3,472$2,479
11 years$4,710$4,212$3,761$3,353$2,986$2,048
12 years$4,273$3,780$3,337$2,941$2,588$1,704
13 years$3,904$3,416$2,982$2,597$2,257$1,425
14 years$3,588$3,105$2,679$2,305$1,978$1,197
15 years$3,314$2,837$2,419$2,056$1,742$1,009
16 years$3,075$2,603$2,193$1,841$1,539$853
17 years$2,864$2,397$1,996$1,654$1,365$723
18 years$2,676$2,215$1,822$1,490$1,214$614
19 years$2,509$2,053$1,668$1,347$1,082$523
20 years$2,359$1,907$1,531$1,220$966$445
21 years$2,223$1,777$1,408$1,107$865$380
22 years$2,099$1,658$1,297$1,006$775$324
23 years$1,987$1,551$1,198$917$696$277
24 years$1,884$1,453$1,108$836$625$237
25 years$1,789$1,364$1,026$763$563$203
26 years$1,702$1,282$952$698$507$174
27 years$1,621$1,206$884$639$457$149
28 years$1,547$1,137$822$585$412$128
29 years$1,477$1,072$765$537$372$109
30 years$1,413$1,013$712$493$336$94
31 years$1,352$957$664$453$304$80
32 years$1,296$906$619$416$275$69
33 years$1,243$858$578$382$249$59
34 years$1,193$813$540$352$225$51
35 years$1,146$771$505$324$204$44
36 years$1,102$732$473$298$185$37
37 years$1,061$695$442$275$168$32
38 years$1,021$661$414$253$152$28
39 years$984$628$388$234$138$24
40 years$949$598$364$215$125$20
41 years$915$569$341$199$113$18
42 years$884$542$320$183$103$15
43 years$853$516$300$169$93$13
44 years$825$492$282$156$85$11
45 years$797$469$265$144$77$10
46 years$771$448$249$133$70$8
47 years$746$427$234$123$63$7
48 years$722$408$219$114$58$6
49 years$699$389$206$105$52$5
50 years$678$372$194$97$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $694,000, adding $3,703 every year, while hoping to spend $45,635 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: 69/21/10 Blend
50$694,000$694,000$694,000$694,000
51$768,608$731,826$721,069$819,849
52$798,450$719,130$696,669$841,623
53$829,807$704,282$669,923$859,560
54$862,785$687,130$640,703$877,970
55$897,500$667,509$608,876$896,891
56$934,076$645,249$574,305$916,368
57$972,652$620,166$536,845$936,448
58$1,013,377$592,068$496,343$957,189
59$1,056,413$560,751$452,642$978,652
60$1,101,938$525,999$405,577$1,000,909
61$1,150,147$487,585$354,975$1,024,039
62$1,201,251$445,265$300,656$1,048,131
63$1,255,482$398,787$242,431$1,073,286
64$1,313,094$347,880$180,105$1,099,618
65$1,374,362$292,259$113,472$1,127,252
66$1,439,591$231,624$42,317$1,156,332
67$1,509,113$165,656$0$1,187,017
68$1,583,290$94,021$0$1,223,072
69$1,662,521$16,363$0$1,266,162
70$1,747,242$0$0$1,312,016
71$1,837,931$0$0$1,376,553
72$1,935,114$0$0$1,449,788
73$2,039,366$0$0$1,528,377
74$2,151,317$0$0$1,612,800
75$2,271,662$0$0$1,703,582
76$2,401,160$0$0$1,801,302
77$2,540,648$0$0$1,906,595
78$2,691,042$0$0$2,020,156
79$2,853,351$0$0$2,142,751
80$3,028,682$0$0$2,275,222
81$3,218,251$0$0$2,418,494
82$3,423,397$0$0$2,573,582
83$3,645,590$0$0$2,741,603
84$3,886,446$0$0$2,923,787
85$4,147,743$0$0$3,121,483
86$4,431,436$0$0$3,336,178
87$4,739,675$0$0$3,569,505
88$5,074,826$0$0$3,823,262
89$5,439,491$0$0$4,099,426
90$5,836,534$0$0$4,400,175
91$6,269,104$0$0$4,727,902
92$6,740,670$0$0$5,085,243
93$7,255,048$0$0$5,475,098
94$7,816,437$0$0$5,900,660
95$8,429,461$0$0$6,365,443
96$9,099,209$0$0$6,873,315
97$9,831,285$0$0$7,428,537
98$10,631,858$0$0$8,035,796
99$11,507,719$0$0$8,700,257
100$12,466,347$0$0$9,427,604