Can I retire at age 51 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$58,466$57,945$57,437$56,941$56,457$55,891
2 years$28,944$28,405$27,882$27,376$26,884$26,314
3 years$19,104$18,563$18,042$17,540$17,056$16,500
4 years$14,185$13,646$13,130$12,636$12,165$11,626
5 years$11,235$10,698$10,189$9,706$9,248$8,728
6 years$9,268$8,736$8,234$7,762$7,317$6,818
7 years$7,864$7,336$6,843$6,382$5,951$5,472
8 years$6,812$6,289$5,803$5,353$4,937$4,478
9 years$5,994$5,475$4,998$4,560$4,158$3,719
10 years$5,339$4,826$4,358$3,931$3,542$3,124
11 years$4,805$4,297$3,836$3,421$3,047$2,648
12 years$4,359$3,856$3,405$3,001$2,640$2,260
13 years$3,983$3,485$3,042$2,649$2,302$1,941
14 years$3,660$3,168$2,733$2,351$2,018$1,675
15 years$3,381$2,894$2,468$2,097$1,777$1,452
16 years$3,137$2,655$2,237$1,878$1,570$1,262
17 years$2,922$2,445$2,036$1,687$1,392$1,101
18 years$2,730$2,259$1,858$1,520$1,238$963
19 years$2,560$2,094$1,701$1,374$1,104$843
20 years$2,406$1,946$1,561$1,244$986$740
21 years$2,268$1,813$1,436$1,129$882$651
22 years$2,142$1,692$1,324$1,027$791$573
23 years$2,027$1,582$1,222$935$710$505
24 years$1,922$1,483$1,130$853$638$446
25 years$1,825$1,391$1,047$779$574$394
26 years$1,736$1,308$971$712$517$348
27 years$1,654$1,231$902$652$466$308
28 years$1,578$1,160$838$597$421$273
29 years$1,507$1,094$780$548$380$242
30 years$1,441$1,033$727$503$343$214
31 years$1,380$977$677$462$310$190
32 years$1,322$924$632$424$281$169
33 years$1,268$875$590$390$254$150
34 years$1,217$829$551$359$230$133
35 years$1,169$787$515$330$208$118
36 years$1,124$747$482$304$189$105
37 years$1,082$709$451$280$171$93
38 years$1,042$674$423$258$155$83
39 years$1,004$641$396$238$141$73
40 years$968$610$371$220$128$65
41 years$934$580$348$203$116$58
42 years$901$553$326$187$105$51
43 years$871$527$306$173$95$46
44 years$841$502$288$160$87$41
45 years$813$479$270$147$79$36
46 years$787$457$254$136$71$32
47 years$761$436$238$126$65$29
48 years$737$416$224$116$59$25
49 years$714$397$210$107$53$23
50 years$691$380$198$99$49$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $708,000, adding $6,724 every year, while hoping to spend $24,580 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: 82/6/12 Blend
50$708,000$708,000$708,000$708,000
51$787,152$749,628$738,654$849,463
52$841,288$760,207$737,246$901,872
53$900,123$770,480$734,967$955,476
54$964,109$780,407$731,762$1,013,600
55$1,033,745$789,944$727,573$1,076,687
56$1,109,580$799,044$722,339$1,145,220
57$1,192,217$807,657$715,998$1,219,734
58$1,282,322$815,731$708,482$1,300,819
59$1,380,624$823,207$699,722$1,389,123
60$1,487,930$830,027$689,645$1,485,362
61$1,605,126$836,125$678,174$1,590,321
62$1,733,186$841,432$665,231$1,704,869
63$1,873,185$845,876$650,730$1,829,961
64$2,026,305$849,380$634,585$1,966,649
65$2,193,848$851,859$616,703$2,116,095
66$2,377,248$853,228$596,990$2,279,575
67$2,578,083$853,391$575,344$2,458,498
68$2,798,091$852,251$551,662$2,654,416
69$3,039,186$849,702$525,833$2,869,039
70$3,303,478$845,632$497,743$3,104,250
71$3,593,288$839,923$467,273$3,362,126
72$3,911,173$832,449$434,296$3,644,954
73$4,259,951$823,077$398,683$3,955,256
74$4,642,724$811,665$360,297$4,295,809
75$5,062,909$798,065$318,995$4,669,675
76$5,524,273$782,117$274,628$5,080,228
77$6,030,962$763,654$227,041$5,531,185
78$6,587,544$742,497$176,071$6,026,644
79$7,199,052$718,458$121,548$6,571,120
80$7,871,031$691,338$63,295$7,169,587
81$8,609,588$660,925$1,128$7,827,531
82$9,421,453$626,998$0$8,550,994
83$10,314,040$589,319$0$9,354,985
84$11,295,516$547,640$0$10,239,190
85$12,374,879$501,695$0$11,211,580
86$13,562,046$451,207$0$12,281,097
87$14,867,938$395,880$0$13,457,593
88$16,304,593$335,403$0$14,751,923
89$17,885,270$269,446$0$16,176,051
90$19,624,581$197,662$0$17,743,157
91$21,538,624$119,684$0$19,467,765
92$23,645,138$35,123$0$21,365,881
93$25,963,669$0$0$23,455,141
94$28,515,751$0$0$25,758,703
95$31,325,115$0$0$28,297,064
96$34,417,909$0$0$31,091,535
97$37,822,942$0$0$34,168,149
98$41,571,963$0$0$37,555,593
99$45,699,953$0$0$41,285,479
100$50,245,459$0$0$45,392,639