Can I retire at age 51 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$58,218$57,700$57,194$56,700$56,218$55,561
2 years$28,821$28,284$27,764$27,260$26,770$26,110
3 years$19,023$18,484$17,965$17,465$16,984$16,340
4 years$14,125$13,588$13,074$12,583$12,113$11,490
5 years$11,187$10,653$10,146$9,665$9,208$8,608
6 years$9,229$8,699$8,199$7,729$7,286$6,710
7 years$7,831$7,305$6,814$6,354$5,926$5,373
8 years$6,783$6,262$5,779$5,331$4,916$4,387
9 years$5,968$5,452$4,977$4,541$4,140$3,635
10 years$5,317$4,806$4,339$3,914$3,527$3,046
11 years$4,784$4,278$3,820$3,406$3,034$2,575
12 years$4,341$3,840$3,390$2,988$2,629$2,193
13 years$3,966$3,470$3,029$2,638$2,292$1,878
14 years$3,645$3,154$2,722$2,342$2,010$1,617
15 years$3,366$2,882$2,457$2,088$1,769$1,397
16 years$3,123$2,644$2,228$1,870$1,564$1,212
17 years$2,909$2,435$2,027$1,680$1,387$1,054
18 years$2,719$2,250$1,851$1,514$1,233$919
19 years$2,549$2,085$1,694$1,368$1,099$803
20 years$2,396$1,938$1,555$1,239$982$703
21 years$2,258$1,805$1,430$1,124$878$616
22 years$2,133$1,685$1,318$1,022$787$541
23 years$2,018$1,576$1,217$931$707$475
24 years$1,914$1,476$1,126$849$635$418
25 years$1,818$1,385$1,042$776$572$368
26 years$1,729$1,302$967$709$515$325
27 years$1,647$1,225$898$649$464$286
28 years$1,571$1,155$835$595$419$253
29 years$1,501$1,089$777$545$378$223
30 years$1,435$1,029$723$501$342$197
31 years$1,374$973$674$460$309$174
32 years$1,316$920$629$422$279$154
33 years$1,263$871$588$388$253$136
34 years$1,212$826$549$357$229$120
35 years$1,164$783$513$329$207$107
36 years$1,120$744$480$303$188$94
37 years$1,077$706$449$279$170$83
38 years$1,037$671$421$257$154$74
39 years$1,000$638$394$237$140$65
40 years$964$607$370$219$127$58
41 years$930$578$347$202$115$51
42 years$898$550$325$186$105$45
43 years$867$524$305$172$95$40
44 years$838$500$286$159$86$36
45 years$810$477$269$147$78$32
46 years$783$455$253$136$71$28
47 years$758$434$237$125$64$25
48 years$734$414$223$116$59$22
49 years$710$396$210$107$53$19
50 years$688$378$197$99$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $705,000, adding $2,596 every year, while hoping to spend $38,121 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: 50/39/11 Blend
50$705,000$705,000$705,000$705,000
51$779,588$742,223$731,295$816,143
52$818,545$738,031$715,233$837,259
53$860,199$732,357$697,355$855,950
54$904,783$725,086$677,561$875,389
55$952,556$716,100$655,744$895,655
56$1,003,799$705,271$631,793$916,840
57$1,058,822$692,465$605,594$939,048
58$1,117,966$677,540$577,026$962,392
59$1,181,603$660,345$545,961$987,004
60$1,250,144$640,719$512,269$1,013,027
61$1,324,039$618,494$475,810$1,040,627
62$1,403,782$593,492$436,440$1,069,986
63$1,489,917$565,522$394,010$1,101,308
64$1,583,040$534,384$348,361$1,134,823
65$1,683,808$499,867$299,329$1,170,788
66$1,792,943$461,746$246,743$1,209,488
67$1,911,236$419,785$190,422$1,251,244
68$2,039,562$373,734$130,180$1,296,413
69$2,178,878$323,328$65,822$1,345,392
70$2,330,239$268,287$0$1,398,626
71$2,494,806$208,316$0$1,456,946
72$2,673,856$143,103$0$1,528,831
73$2,868,794$72,319$0$1,607,189
74$3,081,164$0$0$1,692,727
75$3,312,669$0$0$1,788,115
76$3,565,180$0$0$1,926,078
77$3,840,757$0$0$2,076,713
78$4,141,669$0$0$2,241,270
79$4,470,412$0$0$2,421,122
80$4,829,735$0$0$2,617,784
81$5,222,664$0$0$2,832,921
82$5,652,532$0$0$3,068,368
83$6,123,007$0$0$3,326,145
84$6,638,128$0$0$3,608,476
85$7,202,345$0$0$3,917,812
86$7,820,556$0$0$4,256,850
87$8,498,157$0$0$4,628,562
88$9,241,091$0$0$5,036,220
89$10,055,902$0$0$5,483,429
90$10,949,798$0$0$5,974,158
91$11,930,721$0$0$6,512,782
92$13,007,414$0$0$7,104,117
93$14,189,513$0$0$7,753,470
94$15,487,629$0$0$8,466,686
95$16,913,452$0$0$9,250,204
96$18,479,861$0$0$10,111,119
97$20,201,043$0$0$11,057,245
98$22,092,627$0$0$12,097,191
99$24,171,832$0$0$13,240,444
100$26,457,626$0$0$14,497,452