Can I retire at age 51 with 710,000?

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 $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%14.4%
1 years$58,631$58,109$57,599$57,102$56,616$55,587
2 years$29,025$28,485$27,961$27,453$26,960$25,927
3 years$19,158$18,615$18,093$17,589$17,105$16,099
4 years$14,225$13,684$13,167$12,672$12,199$11,230
5 years$11,266$10,728$10,218$9,733$9,274$8,343
6 years$9,295$8,761$8,258$7,784$7,338$6,447
7 years$7,887$7,357$6,862$6,400$5,968$5,117
8 years$6,831$6,306$5,820$5,368$4,951$4,140
9 years$6,011$5,491$5,012$4,573$4,169$3,397
10 years$5,355$4,840$4,370$3,942$3,552$2,819
11 years$4,818$4,309$3,847$3,430$3,055$2,360
12 years$4,372$3,867$3,414$3,009$2,648$1,989
13 years$3,994$3,495$3,050$2,656$2,309$1,686
14 years$3,670$3,177$2,741$2,358$2,024$1,436
15 years$3,390$2,902$2,475$2,103$1,782$1,227
16 years$3,146$2,663$2,244$1,883$1,575$1,052
17 years$2,930$2,452$2,042$1,692$1,396$905
18 years$2,738$2,266$1,864$1,525$1,242$780
19 years$2,567$2,100$1,706$1,378$1,107$673
20 years$2,413$1,951$1,566$1,248$989$583
21 years$2,274$1,818$1,440$1,132$885$505
22 years$2,148$1,697$1,327$1,030$793$438
23 years$2,033$1,587$1,226$938$712$380
24 years$1,927$1,487$1,133$855$640$330
25 years$1,830$1,395$1,050$781$576$287
26 years$1,741$1,311$974$714$519$250
27 years$1,659$1,234$904$654$468$218
28 years$1,582$1,163$841$599$422$189
29 years$1,511$1,097$782$549$381$165
30 years$1,445$1,036$729$504$344$144
31 years$1,383$979$679$463$311$126
32 years$1,326$927$634$425$281$110
33 years$1,272$878$592$391$255$96
34 years$1,221$832$553$360$231$83
35 years$1,173$789$517$331$209$73
36 years$1,128$749$484$305$189$64
37 years$1,085$711$453$281$172$56
38 years$1,045$676$424$259$156$49
39 years$1,007$643$397$239$141$42
40 years$971$612$372$220$128$37
41 years$936$582$349$203$116$32
42 years$904$554$327$188$105$28
43 years$873$528$307$173$96$25
44 years$844$503$288$160$87$22
45 years$816$480$271$148$79$19
46 years$789$458$254$136$72$16
47 years$763$437$239$126$65$14
48 years$739$417$225$117$59$13
49 years$716$398$211$108$54$11
50 years$693$381$198$100$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $710,000, adding $6,461 every year, while hoping to spend $42,558 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: 53/29/18 Blend
50$710,000$710,000$710,000$710,000
51$789,085$751,455$740,450$826,723
52$824,290$742,994$719,973$844,762
53$861,660$732,693$697,385$859,358
54$901,370$720,416$672,568$874,309
55$943,613$706,020$645,402$889,662
56$988,599$689,353$615,761$905,468
57$1,036,559$670,254$583,512$921,791
58$1,087,746$648,554$548,517$938,699
59$1,142,436$624,073$510,632$956,273
60$1,200,931$596,620$469,705$974,605
61$1,263,565$565,993$425,580$993,797
62$1,330,703$531,980$378,090$1,013,968
63$1,402,743$494,356$327,065$1,035,250
64$1,480,125$452,882$272,324$1,057,794
65$1,563,330$407,306$213,679$1,081,771
66$1,652,888$357,362$150,936$1,107,371
67$1,749,379$302,769$83,888$1,134,810
68$1,853,440$243,229$12,323$1,164,332
69$1,965,773$178,430$0$1,196,207
70$2,087,148$108,038$0$1,243,044
71$2,218,410$31,705$0$1,296,209
72$2,360,489$0$0$1,353,763
73$2,514,408$0$0$1,432,440
74$2,681,291$0$0$1,528,772
75$2,862,374$0$0$1,633,362
76$3,059,017$0$0$1,747,002
77$3,272,715$0$0$1,870,566
78$3,505,113$0$0$2,005,012
79$3,758,020$0$0$2,151,396
80$4,033,429$0$0$2,310,881
81$4,333,531$0$0$2,484,744
82$4,660,736$0$0$2,674,394
83$5,017,700$0$0$2,881,378
84$5,407,344$0$0$3,107,402
85$5,832,884$0$0$3,354,341
86$6,297,859$0$0$3,624,264
87$6,806,167$0$0$3,919,443
88$7,362,099$0$0$4,242,384
89$7,970,380$0$0$4,595,845
90$8,636,212$0$0$4,982,862
91$9,365,324$0$0$5,406,779
92$10,164,024$0$0$5,871,279
93$11,039,260$0$0$6,380,418
94$11,998,682$0$0$6,938,662
95$13,050,719$0$0$7,550,932
96$14,204,650$0$0$8,222,646
97$15,470,700$0$0$8,959,773
98$16,860,128$0$0$9,768,887
99$18,385,336$0$0$10,657,229
100$20,059,989$0$0$11,632,778