Can I retire at age 51 with 698,000?

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 $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%14.9%
1 years$57,640$57,127$56,626$56,137$55,660$54,536
2 years$28,535$28,003$27,488$26,989$26,505$25,377
3 years$18,834$18,300$17,787$17,292$16,816$15,720
4 years$13,985$13,453$12,944$12,458$11,993$10,938
5 years$11,076$10,547$10,045$9,569$9,117$8,105
6 years$9,137$8,613$8,118$7,652$7,214$6,246
7 years$7,753$7,233$6,746$6,291$5,867$4,943
8 years$6,716$6,200$5,721$5,278$4,867$3,988
9 years$5,909$5,398$4,928$4,495$4,099$3,263
10 years$5,264$4,758$4,296$3,875$3,492$2,699
11 years$4,737$4,236$3,782$3,373$3,004$2,252
12 years$4,298$3,802$3,357$2,958$2,603$1,892
13 years$3,926$3,436$2,999$2,612$2,270$1,598
14 years$3,608$3,123$2,695$2,318$1,990$1,357
15 years$3,333$2,853$2,433$2,067$1,752$1,156
16 years$3,092$2,618$2,206$1,851$1,548$988
17 years$2,880$2,411$2,007$1,663$1,373$846
18 years$2,692$2,228$1,832$1,499$1,221$727
19 years$2,524$2,064$1,677$1,354$1,088$625
20 years$2,372$1,918$1,539$1,227$972$539
21 years$2,236$1,787$1,416$1,113$870$465
22 years$2,111$1,668$1,305$1,012$780$402
23 years$1,998$1,560$1,205$922$700$347
24 years$1,895$1,462$1,114$841$629$301
25 years$1,800$1,372$1,032$768$566$260
26 years$1,712$1,289$957$702$510$226
27 years$1,631$1,213$889$643$460$196
28 years$1,556$1,143$826$589$415$170
29 years$1,486$1,079$769$540$374$147
30 years$1,421$1,019$716$496$338$128
31 years$1,360$963$668$455$306$111
32 years$1,303$911$623$418$277$97
33 years$1,250$863$582$385$250$84
34 years$1,200$818$544$354$227$73
35 years$1,153$776$508$326$205$63
36 years$1,109$736$475$300$186$55
37 years$1,067$699$445$276$169$48
38 years$1,027$664$417$255$153$42
39 years$990$632$390$235$139$36
40 years$954$601$366$217$126$32
41 years$921$572$343$200$114$27
42 years$889$545$322$185$104$24
43 years$858$519$302$170$94$21
44 years$829$495$283$157$85$18
45 years$802$472$266$145$77$16
46 years$775$450$250$134$70$14
47 years$750$430$235$124$64$12
48 years$726$410$221$115$58$10
49 years$703$392$207$106$53$9
50 years$681$374$195$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $698,000, adding $4,181 every year, while hoping to spend $27,094 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: 29/49/22 Blend
50$698,000$698,000$698,000$698,000
51$773,509$736,515$725,696$790,512
52$823,579$743,776$721,179$811,239
53$877,848$750,485$715,602$830,819
54$936,716$756,586$708,902$851,302
55$1,000,622$762,020$701,012$872,783
56$1,070,050$766,724$691,860$895,368
57$1,145,532$770,630$681,374$919,177
58$1,227,652$773,667$669,477$944,342
59$1,317,055$775,759$656,087$971,011
60$1,414,449$776,826$641,120$999,349
61$1,520,613$776,781$624,487$1,029,544
62$1,636,406$775,533$606,098$1,061,799
63$1,762,771$772,986$585,854$1,096,346
64$1,900,748$769,036$563,654$1,133,441
65$2,051,481$763,576$539,393$1,173,370
66$2,216,230$756,489$512,961$1,216,451
67$2,396,382$747,653$484,241$1,263,037
68$2,593,463$736,938$453,113$1,313,523
69$2,809,154$724,207$419,451$1,368,347
70$3,045,308$709,313$383,123$1,427,995
71$3,303,963$692,102$343,991$1,493,009
72$3,587,363$672,411$301,910$1,563,989
73$3,897,982$650,067$256,732$1,641,602
74$4,238,542$624,886$208,298$1,726,588
75$4,612,042$596,675$156,446$1,819,771
76$5,021,787$565,228$101,003$1,922,060
77$5,471,413$530,329$41,791$2,034,467
78$5,964,930$491,748$0$2,158,112
79$6,506,752$449,243$0$2,299,260
80$7,101,742$402,556$0$2,465,061
81$7,755,257$351,419$0$2,647,265
82$8,473,198$295,543$0$2,847,613
83$9,262,067$234,627$0$3,068,025
84$10,129,025$168,351$0$3,310,626
85$11,081,963$96,378$0$3,577,763
86$12,129,573$18,351$0$3,872,031
87$13,281,434$0$0$4,196,297
88$14,548,095$0$0$4,589,373
89$15,941,182$0$0$5,032,689
90$17,473,504$0$0$5,520,441
91$19,159,172$0$0$6,057,139
92$21,013,733$0$0$6,647,749
93$23,054,321$0$0$7,297,743
94$25,299,809$0$0$8,013,153
95$27,770,997$0$0$8,800,622
96$30,490,800$0$0$9,667,472
97$33,484,468$0$0$10,621,770
98$36,779,825$0$0$11,672,406
99$40,407,526$0$0$12,829,173
100$44,401,351$0$0$14,102,865