Can I retire at age 51 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$58,136$57,618$57,113$56,619$56,138$54,892
2 years$28,780$28,244$27,725$27,221$26,732$25,484
3 years$18,996$18,458$17,940$17,441$16,960$15,748
4 years$14,105$13,568$13,055$12,565$12,096$10,929
5 years$11,171$10,638$10,132$9,651$9,195$8,077
6 years$9,216$8,687$8,188$7,718$7,276$6,208
7 years$7,820$7,295$6,804$6,345$5,917$4,899
8 years$6,773$6,253$5,770$5,323$4,909$3,941
9 years$5,960$5,444$4,970$4,534$4,134$3,215
10 years$5,309$4,799$4,333$3,908$3,522$2,651
11 years$4,777$4,272$3,815$3,401$3,029$2,205
12 years$4,335$3,835$3,385$2,984$2,625$1,847
13 years$3,960$3,465$3,025$2,634$2,289$1,555
14 years$3,639$3,150$2,718$2,338$2,007$1,315
15 years$3,362$2,877$2,454$2,085$1,767$1,116
16 years$3,119$2,640$2,225$1,867$1,562$951
17 years$2,905$2,431$2,024$1,678$1,385$812
18 years$2,715$2,247$1,848$1,512$1,231$694
19 years$2,545$2,082$1,692$1,366$1,097$595
20 years$2,393$1,935$1,553$1,237$980$511
21 years$2,255$1,802$1,428$1,123$877$439
22 years$2,130$1,682$1,316$1,021$786$378
23 years$2,015$1,573$1,215$930$706$326
24 years$1,911$1,474$1,124$848$634$281
25 years$1,815$1,384$1,041$774$571$242
26 years$1,727$1,300$965$708$514$209
27 years$1,645$1,224$897$648$464$181
28 years$1,569$1,153$833$594$418$156
29 years$1,499$1,088$776$545$378$135
30 years$1,433$1,027$722$500$341$117
31 years$1,372$971$673$459$309$101
32 years$1,314$919$628$422$279$87
33 years$1,261$870$587$388$253$76
34 years$1,210$825$548$357$229$65
35 years$1,163$782$513$329$207$57
36 years$1,118$743$479$303$188$49
37 years$1,076$705$449$279$170$42
38 years$1,036$670$420$257$154$37
39 years$998$637$394$237$140$32
40 years$962$606$369$219$127$28
41 years$929$577$346$202$115$24
42 years$896$550$325$186$104$21
43 years$866$524$305$172$95$18
44 years$836$499$286$159$86$16
45 years$809$476$268$146$78$13
46 years$782$454$252$135$71$12
47 years$757$433$237$125$64$10
48 years$733$414$223$116$58$9
49 years$709$395$209$107$53$8
50 years$687$377$197$99$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $704,000, adding $6,214 every year, while hoping to spend $22,598 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: 77/11/12 Blend
50$704,000$704,000$704,000$704,000
51$782,218$744,906$733,994$840,164
52$837,960$757,362$734,538$891,647
53$898,630$769,671$734,344$944,591
54$964,708$781,802$733,362$1,002,007
55$1,036,719$793,722$731,541$1,064,332
56$1,115,245$805,395$728,828$1,132,048
57$1,200,923$816,782$725,166$1,205,684
58$1,294,455$827,842$720,497$1,285,825
59$1,396,616$838,533$714,760$1,373,114
60$1,508,255$848,806$707,890$1,468,261
61$1,630,312$858,612$699,818$1,572,047
62$1,763,817$867,897$690,475$1,685,332
63$1,909,906$876,604$679,786$1,809,065
64$2,069,832$884,672$667,674$1,944,290
65$2,244,970$892,037$654,057$2,092,160
66$2,436,840$898,630$638,851$2,253,944
67$2,647,111$904,376$621,966$2,431,039
68$2,877,624$909,198$603,309$2,624,987
69$3,130,405$913,012$582,783$2,837,486
70$3,407,686$915,730$560,286$3,070,406
71$3,711,927$917,257$535,713$3,325,812
72$4,045,834$917,494$508,950$3,605,974
73$4,412,392$916,334$479,883$3,913,398
74$4,814,887$913,664$448,389$4,250,845
75$5,256,937$909,366$414,342$4,621,355
76$5,742,530$903,311$377,608$5,028,282
77$6,276,060$895,365$338,050$5,475,321
78$6,862,366$885,385$295,522$5,966,543
79$7,506,778$873,219$249,873$6,506,437
80$8,215,170$858,708$200,944$7,099,947
81$8,994,013$841,681$148,572$7,752,526
82$9,850,437$821,957$92,584$8,470,180
83$10,792,295$799,347$32,799$9,259,530
84$11,828,243$773,648$0$10,127,873
85$12,967,813$744,647$0$11,087,219
86$14,221,512$712,116$0$12,147,203
87$15,600,914$675,818$0$13,313,414
88$17,118,773$635,498$0$14,596,645
89$18,789,140$590,890$0$16,008,787
90$20,627,498$541,710$0$17,562,947
91$22,650,908$487,658$0$19,273,565
92$24,878,167$428,420$0$21,156,556
93$27,329,987$363,660$0$23,229,457
94$30,029,192$293,026$0$25,511,592
95$33,000,930$216,144$0$28,024,259
96$36,272,910$132,621$0$30,790,924
97$39,875,669$42,040$0$33,837,449
98$43,842,850$0$0$37,192,334
99$48,211,530$0$0$40,893,767
100$53,022,561$0$0$44,975,627