Can I retire at age 51 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$58,631$58,109$57,599$57,102$56,616$55,816
2 years$29,025$28,485$27,961$27,453$26,960$26,156
3 years$19,158$18,615$18,093$17,589$17,105$16,321
4 years$14,225$13,684$13,167$12,672$12,199$11,442
5 years$11,266$10,728$10,218$9,733$9,274$8,545
6 years$9,295$8,761$8,258$7,784$7,338$6,639
7 years$7,887$7,357$6,862$6,400$5,968$5,299
8 years$6,831$6,306$5,820$5,368$4,951$4,312
9 years$6,011$5,491$5,012$4,573$4,169$3,560
10 years$5,355$4,840$4,370$3,942$3,552$2,972
11 years$4,818$4,309$3,847$3,430$3,055$2,503
12 years$4,372$3,867$3,414$3,009$2,648$2,123
13 years$3,994$3,495$3,050$2,656$2,309$1,812
14 years$3,670$3,177$2,741$2,358$2,024$1,553
15 years$3,390$2,902$2,475$2,103$1,782$1,337
16 years$3,146$2,663$2,244$1,883$1,575$1,155
17 years$2,930$2,452$2,042$1,692$1,396$1,000
18 years$2,738$2,266$1,864$1,525$1,242$868
19 years$2,567$2,100$1,706$1,378$1,107$755
20 years$2,413$1,951$1,566$1,248$989$658
21 years$2,274$1,818$1,440$1,132$885$574
22 years$2,148$1,697$1,327$1,030$793$502
23 years$2,033$1,587$1,226$938$712$439
24 years$1,927$1,487$1,133$855$640$385
25 years$1,830$1,395$1,050$781$576$337
26 years$1,741$1,311$974$714$519$296
27 years$1,659$1,234$904$654$468$259
28 years$1,582$1,163$841$599$422$228
29 years$1,511$1,097$782$549$381$200
30 years$1,445$1,036$729$504$344$176
31 years$1,383$979$679$463$311$155
32 years$1,326$927$634$425$281$136
33 years$1,272$878$592$391$255$120
34 years$1,221$832$553$360$231$105
35 years$1,173$789$517$331$209$93
36 years$1,128$749$484$305$189$82
37 years$1,085$711$453$281$172$72
38 years$1,045$676$424$259$156$63
39 years$1,007$643$397$239$141$56
40 years$971$612$372$220$128$49
41 years$936$582$349$203$116$43
42 years$904$554$327$188$105$38
43 years$873$528$307$173$96$34
44 years$844$503$288$160$87$30
45 years$816$480$271$148$79$26
46 years$789$458$254$136$72$23
47 years$763$437$239$126$65$20
48 years$739$417$225$117$59$18
49 years$716$398$211$108$54$16
50 years$693$381$198$100$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $710,000, adding $2,601 every year, while hoping to spend $41,103 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: 65/30/5 Blend
50$710,000$710,000$710,000$710,000
51$785,103$747,473$736,468$835,434
52$821,450$740,366$717,406$862,085
53$860,127$731,533$696,329$886,035
54$901,328$720,846$673,124$911,102
55$945,266$708,170$647,676$937,392
56$992,174$693,361$619,863$965,019
57$1,042,306$676,266$589,560$994,113
58$1,095,944$656,726$556,632$1,024,815
59$1,153,393$634,568$520,942$1,057,286
60$1,214,990$609,613$482,345$1,091,702
61$1,281,105$581,670$440,689$1,128,260
62$1,352,142$550,536$395,817$1,167,178
63$1,428,547$515,999$347,563$1,208,699
64$1,510,807$477,831$295,755$1,253,094
65$1,599,459$435,794$240,212$1,300,661
66$1,695,092$389,636$180,747$1,351,735
67$1,798,353$339,090$117,163$1,406,683
68$1,909,952$283,873$49,256$1,465,918
69$2,030,673$223,688$0$1,529,893
70$2,161,372$158,219$0$1,600,352
71$2,302,996$87,136$0$1,679,501
72$2,456,581$10,085$0$1,765,344
73$2,623,271$0$0$1,858,581
74$2,804,321$0$0$1,984,188
75$3,001,113$0$0$2,124,377
76$3,215,166$0$0$2,276,906
77$3,448,152$0$0$2,442,971
78$3,701,912$0$0$2,623,891
79$3,978,470$0$0$2,821,114
80$4,280,054$0$0$3,036,235
81$4,609,116$0$0$3,271,012
82$4,968,357$0$0$3,527,375
83$5,360,747$0$0$3,807,453
84$5,789,559$0$0$4,113,588
85$6,258,392$0$0$4,448,359
86$6,771,213$0$0$4,814,605
87$7,332,387$0$0$5,215,452
88$7,946,721$0$0$5,654,343
89$8,619,511$0$0$6,135,069
90$9,356,585$0$0$6,661,804
91$10,164,364$0$0$7,239,146
92$11,049,919$0$0$7,872,159
93$12,021,037$0$0$8,566,419
94$13,086,297$0$0$9,328,071
95$14,255,144$0$0$10,163,879
96$15,537,987$0$0$11,081,296
97$16,946,288$0$0$12,088,532
98$18,492,673$0$0$13,194,629
99$20,191,051$0$0$14,409,550
100$22,056,747$0$0$15,744,269