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%14.1%
1 years$57,640$57,127$56,626$56,137$55,660$54,715
2 years$28,535$28,003$27,488$26,989$26,505$25,556
3 years$18,834$18,300$17,787$17,292$16,816$15,892
4 years$13,985$13,453$12,944$12,458$11,993$11,102
5 years$11,076$10,547$10,045$9,569$9,117$8,261
6 years$9,137$8,613$8,118$7,652$7,214$6,394
7 years$7,753$7,233$6,746$6,291$5,867$5,083
8 years$6,716$6,200$5,721$5,278$4,867$4,120
9 years$5,909$5,398$4,928$4,495$4,099$3,387
10 years$5,264$4,758$4,296$3,875$3,492$2,816
11 years$4,737$4,236$3,782$3,373$3,004$2,361
12 years$4,298$3,802$3,357$2,958$2,603$1,994
13 years$3,926$3,436$2,999$2,612$2,270$1,694
14 years$3,608$3,123$2,695$2,318$1,990$1,445
15 years$3,333$2,853$2,433$2,067$1,752$1,238
16 years$3,092$2,618$2,206$1,851$1,548$1,064
17 years$2,880$2,411$2,007$1,663$1,373$917
18 years$2,692$2,228$1,832$1,499$1,221$792
19 years$2,524$2,064$1,677$1,354$1,088$685
20 years$2,372$1,918$1,539$1,227$972$594
21 years$2,236$1,787$1,416$1,113$870$516
22 years$2,111$1,668$1,305$1,012$780$448
23 years$1,998$1,560$1,205$922$700$390
24 years$1,895$1,462$1,114$841$629$340
25 years$1,800$1,372$1,032$768$566$296
26 years$1,712$1,289$957$702$510$258
27 years$1,631$1,213$889$643$460$225
28 years$1,556$1,143$826$589$415$197
29 years$1,486$1,079$769$540$374$172
30 years$1,421$1,019$716$496$338$150
31 years$1,360$963$668$455$306$131
32 years$1,303$911$623$418$277$115
33 years$1,250$863$582$385$250$101
34 years$1,200$818$544$354$227$88
35 years$1,153$776$508$326$205$77
36 years$1,109$736$475$300$186$67
37 years$1,067$699$445$276$169$59
38 years$1,027$664$417$255$153$52
39 years$990$632$390$235$139$45
40 years$954$601$366$217$126$40
41 years$921$572$343$200$114$35
42 years$889$545$322$185$104$30
43 years$858$519$302$170$94$27
44 years$829$495$283$157$85$23
45 years$802$472$266$145$77$20
46 years$775$450$250$134$70$18
47 years$750$430$235$124$64$16
48 years$726$410$221$115$58$14
49 years$703$392$207$106$53$12
50 years$681$374$195$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $698,000, adding $2,610 every year, while hoping to spend $45,030 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: 54/20/26 Blend
50$698,000$698,000$698,000$698,000
51$771,888$734,894$724,075$807,884
52$802,709$722,992$700,420$821,096
53$835,165$708,998$674,463$830,610
54$869,374$692,762$646,080$840,048
55$905,467$674,124$615,141$849,420
56$943,585$652,916$581,508$858,739
57$983,882$628,961$545,041$868,020
58$1,026,528$602,069$505,589$877,284
59$1,071,705$572,042$462,998$886,557
60$1,119,615$538,668$417,104$895,872
61$1,170,478$501,725$367,739$905,266
62$1,224,534$460,977$314,726$914,786
63$1,282,045$416,174$257,878$924,486
64$1,343,300$367,052$197,003$934,431
65$1,408,613$313,334$131,899$944,694
66$1,478,329$254,726$62,356$955,364
67$1,552,827$190,915$0$966,541
68$1,632,520$121,575$0$981,631
69$1,717,863$46,358$0$1,016,153
70$1,809,354$0$0$1,053,008
71$1,907,540$0$0$1,100,166
72$2,013,019$0$0$1,161,834
73$2,126,452$0$0$1,228,199
74$2,248,560$0$0$1,299,690
75$2,380,137$0$0$1,376,780
76$2,522,055$0$0$1,459,986
77$2,675,271$0$0$1,549,875
78$2,840,839$0$0$1,647,074
79$3,019,914$0$0$1,752,270
80$3,213,768$0$0$1,866,216
81$3,423,799$0$0$1,989,745
82$3,651,543$0$0$2,123,769
83$3,898,690$0$0$2,269,292
84$4,167,099$0$0$2,427,418
85$4,458,813$0$0$2,599,363
86$4,776,083$0$0$2,786,463
87$5,121,383$0$0$2,990,190
88$5,497,434$0$0$3,212,161
89$5,907,233$0$0$3,454,158
90$6,354,077$0$0$3,718,141
91$6,841,595$0$0$4,006,267
92$7,373,781$0$0$4,320,912
93$7,955,031$0$0$4,664,689
94$8,590,186$0$0$5,040,478
95$9,284,576$0$0$5,451,447
96$10,044,066$0$0$5,901,085
97$10,875,116$0$0$6,393,235
98$11,784,840$0$0$6,932,126
99$12,781,070$0$0$7,522,417
100$13,872,433$0$0$8,169,240