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%19.6%
1 years$57,640$57,127$56,626$56,137$55,660$53,515
2 years$28,535$28,003$27,488$26,989$26,505$24,369
3 years$18,834$18,300$17,787$17,292$16,816$14,757
4 years$13,985$13,453$12,944$12,458$11,993$10,027
5 years$11,076$10,547$10,045$9,569$9,117$7,248
6 years$9,137$8,613$8,118$7,652$7,214$5,444
7 years$7,753$7,233$6,746$6,291$5,867$4,195
8 years$6,716$6,200$5,721$5,278$4,867$3,292
9 years$5,909$5,398$4,928$4,495$4,099$2,618
10 years$5,264$4,758$4,296$3,875$3,492$2,103
11 years$4,737$4,236$3,782$3,373$3,004$1,702
12 years$4,298$3,802$3,357$2,958$2,603$1,386
13 years$3,926$3,436$2,999$2,612$2,270$1,135
14 years$3,608$3,123$2,695$2,318$1,990$932
15 years$3,333$2,853$2,433$2,067$1,752$768
16 years$3,092$2,618$2,206$1,851$1,548$635
17 years$2,880$2,411$2,007$1,663$1,373$525
18 years$2,692$2,228$1,832$1,499$1,221$436
19 years$2,524$2,064$1,677$1,354$1,088$362
20 years$2,372$1,918$1,539$1,227$972$301
21 years$2,236$1,787$1,416$1,113$870$250
22 years$2,111$1,668$1,305$1,012$780$209
23 years$1,998$1,560$1,205$922$700$174
24 years$1,895$1,462$1,114$841$629$145
25 years$1,800$1,372$1,032$768$566$121
26 years$1,712$1,289$957$702$510$101
27 years$1,631$1,213$889$643$460$84
28 years$1,556$1,143$826$589$415$70
29 years$1,486$1,079$769$540$374$59
30 years$1,421$1,019$716$496$338$49
31 years$1,360$963$668$455$306$41
32 years$1,303$911$623$418$277$34
33 years$1,250$863$582$385$250$29
34 years$1,200$818$544$354$227$24
35 years$1,153$776$508$326$205$20
36 years$1,109$736$475$300$186$17
37 years$1,067$699$445$276$169$14
38 years$1,027$664$417$255$153$12
39 years$990$632$390$235$139$10
40 years$954$601$366$217$126$8
41 years$921$572$343$200$114$7
42 years$889$545$322$185$104$6
43 years$858$519$302$170$94$5
44 years$829$495$283$157$85$4
45 years$802$472$266$145$77$3
46 years$775$450$250$134$70$3
47 years$750$430$235$124$64$2
48 years$726$410$221$115$58$2
49 years$703$392$207$106$53$2
50 years$681$374$195$98$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $698,000, adding $6,987 every year, while hoping to spend $51,804 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: 58/22/20 Blend
50$698,000$698,000$698,000$698,000
51$776,403$739,409$728,590$816,934
52$800,477$720,521$697,879$826,391
53$825,271$698,971$664,402$830,478
54$850,802$674,575$628,014$833,782
55$877,090$647,135$588,559$836,238
56$904,154$616,446$545,876$837,777
57$932,013$582,287$499,798$838,327
58$960,686$544,427$450,149$837,809
59$990,193$502,620$396,746$836,142
60$1,020,551$456,608$339,396$833,239
61$1,051,782$406,115$277,900$829,006
62$1,083,902$350,854$212,048$823,348
63$1,116,931$290,517$141,623$816,159
64$1,150,887$224,781$66,396$807,329
65$1,185,788$153,305$0$796,743
66$1,221,650$75,729$0$787,240
67$1,258,489$0$0$791,038
68$1,296,321$0$0$795,889
69$1,335,161$0$0$819,684
70$1,375,020$0$0$844,099
71$1,415,911$0$0$869,140
72$1,457,843$0$0$894,812
73$1,500,823$0$0$921,118
74$1,544,857$0$0$948,061
75$1,589,948$0$0$975,642
76$1,636,094$0$0$1,003,859
77$1,683,293$0$0$1,032,707
78$1,731,536$0$0$1,062,182
79$1,780,811$0$0$1,092,273
80$1,831,100$0$0$1,122,969
81$1,882,382$0$0$1,154,253
82$1,934,626$0$0$1,186,105
83$1,987,797$0$0$1,218,501
84$2,041,850$0$0$1,251,411
85$2,096,733$0$0$1,284,800
86$2,152,381$0$0$1,318,625
87$2,208,723$0$0$1,352,837
88$2,265,670$0$0$1,387,381
89$2,323,123$0$0$1,422,189
90$2,380,966$0$0$1,457,186
91$2,439,067$0$0$1,492,286
92$2,497,275$0$0$1,527,390
93$2,555,416$0$0$1,562,386
94$2,613,296$0$0$1,597,146
95$2,670,692$0$0$1,631,526
96$2,727,354$0$0$1,665,365
97$2,782,999$0$0$1,698,479
98$2,837,310$0$0$1,730,663
99$2,889,930$0$0$1,761,686
100$2,940,459$0$0$1,791,290