Can I retire at age 51 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$57,640$57,127$56,626$56,137$55,660$55,216
2 years$28,535$28,003$27,488$26,989$26,505$26,058
3 years$18,834$18,300$17,787$17,292$16,816$16,379
4 years$13,985$13,453$12,944$12,458$11,993$11,570
5 years$11,076$10,547$10,045$9,569$9,117$8,709
6 years$9,137$8,613$8,118$7,652$7,214$6,821
7 years$7,753$7,233$6,746$6,291$5,867$5,490
8 years$6,716$6,200$5,721$5,278$4,867$4,506
9 years$5,909$5,398$4,928$4,495$4,099$3,753
10 years$5,264$4,758$4,296$3,875$3,492$3,162
11 years$4,737$4,236$3,782$3,373$3,004$2,688
12 years$4,298$3,802$3,357$2,958$2,603$2,302
13 years$3,926$3,436$2,999$2,612$2,270$1,983
14 years$3,608$3,123$2,695$2,318$1,990$1,717
15 years$3,333$2,853$2,433$2,067$1,752$1,493
16 years$3,092$2,618$2,206$1,851$1,548$1,303
17 years$2,880$2,411$2,007$1,663$1,373$1,140
18 years$2,692$2,228$1,832$1,499$1,221$1,001
19 years$2,524$2,064$1,677$1,354$1,088$880
20 years$2,372$1,918$1,539$1,227$972$775
21 years$2,236$1,787$1,416$1,113$870$684
22 years$2,111$1,668$1,305$1,012$780$605
23 years$1,998$1,560$1,205$922$700$535
24 years$1,895$1,462$1,114$841$629$474
25 years$1,800$1,372$1,032$768$566$421
26 years$1,712$1,289$957$702$510$373
27 years$1,631$1,213$889$643$460$332
28 years$1,556$1,143$826$589$415$295
29 years$1,486$1,079$769$540$374$262
30 years$1,421$1,019$716$496$338$233
31 years$1,360$963$668$455$306$208
32 years$1,303$911$623$418$277$185
33 years$1,250$863$582$385$250$165
34 years$1,200$818$544$354$227$147
35 years$1,153$776$508$326$205$131
36 years$1,109$736$475$300$186$117
37 years$1,067$699$445$276$169$104
38 years$1,027$664$417$255$153$93
39 years$990$632$390$235$139$83
40 years$954$601$366$217$126$74
41 years$921$572$343$200$114$66
42 years$889$545$322$185$104$59
43 years$858$519$302$170$94$53
44 years$829$495$283$157$85$47
45 years$802$472$266$145$77$42
46 years$775$450$250$134$70$37
47 years$750$430$235$124$64$33
48 years$726$410$221$115$58$30
49 years$703$392$207$106$53$27
50 years$681$374$195$98$48$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $698,000, adding $6,336 every year, while hoping to spend $56,566 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: 45/37/18 Blend
50$698,000$698,000$698,000$698,000
51$775,732$738,738$727,919$806,368
52$794,670$714,750$692,118$804,464
53$813,645$687,691$653,222$796,269
54$832,600$657,351$611,068$786,187
55$851,471$623,507$565,485$774,071
56$870,185$585,923$516,293$759,759
57$888,663$544,352$463,308$743,080
58$906,811$498,530$406,333$723,851
59$924,527$448,179$345,167$701,875
60$941,695$393,006$279,595$676,941
61$958,184$332,699$209,398$648,822
62$973,848$266,931$134,342$617,277
63$988,525$195,355$54,187$582,044
64$1,002,032$117,605$0$542,845
65$1,014,167$33,295$0$505,402
66$1,024,702$0$0$474,869
67$1,033,384$0$0$464,144
68$1,039,934$0$0$465,870
69$1,044,037$0$0$466,335
70$1,045,348$0$0$465,366
71$1,043,478$0$0$462,769
72$1,038,000$0$0$458,329
73$1,028,439$0$0$451,811
74$1,014,265$0$0$442,949
75$994,896$0$0$431,453
76$969,681$0$0$416,999
77$937,904$0$0$399,228
78$898,769$0$0$377,746
79$851,396$0$0$352,113
80$794,811$0$0$321,845
81$727,936$0$0$286,404
82$649,580$0$0$245,198
83$558,424$0$0$197,571
84$453,012$0$0$142,797
85$331,733$0$0$80,077
86$192,808$0$0$8,524
87$34,270$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