Can I retire at age 51 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$48,309$47,878$47,459$47,049$46,649$45,029
2 years$23,915$23,470$23,038$22,620$22,214$20,599
3 years$15,785$15,338$14,907$14,493$14,093$12,534
4 years$11,721$11,275$10,849$10,441$10,051$8,559
5 years$9,283$8,840$8,419$8,020$7,641$6,220
6 years$7,658$7,218$6,804$6,413$6,046$4,697
7 years$6,498$6,062$5,654$5,273$4,917$3,641
8 years$5,628$5,196$4,795$4,423$4,079$2,874
9 years$4,952$4,524$4,130$3,768$3,435$2,299
10 years$4,412$3,988$3,601$3,248$2,927$1,859
11 years$3,970$3,550$3,170$2,827$2,517$1,514
12 years$3,602$3,186$2,813$2,479$2,181$1,242
13 years$3,291$2,880$2,513$2,189$1,902$1,023
14 years$3,024$2,617$2,258$1,943$1,668$847
15 years$2,793$2,391$2,039$1,733$1,468$703
16 years$2,592$2,194$1,849$1,552$1,298$585
17 years$2,414$2,020$1,682$1,394$1,151$488
18 years$2,256$1,867$1,536$1,256$1,023$407
19 years$2,115$1,730$1,406$1,135$912$341
20 years$1,988$1,608$1,290$1,028$814$286
21 years$1,874$1,498$1,187$933$729$240
22 years$1,770$1,398$1,094$848$653$201
23 years$1,675$1,308$1,010$773$586$169
24 years$1,588$1,225$934$705$527$142
25 years$1,508$1,150$865$644$474$119
26 years$1,435$1,080$802$588$427$100
27 years$1,367$1,017$745$539$385$85
28 years$1,304$958$693$493$348$71
29 years$1,245$904$644$453$314$60
30 years$1,191$854$600$415$284$50
31 years$1,140$807$560$381$256$43
32 years$1,092$764$522$351$232$36
33 years$1,048$723$488$322$210$30
34 years$1,006$685$456$297$190$25
35 years$966$650$426$273$172$21
36 years$929$617$398$251$156$18
37 years$894$586$373$232$141$15
38 years$861$557$349$214$128$13
39 years$830$530$327$197$116$11
40 years$800$504$307$182$105$9
41 years$772$480$288$168$96$8
42 years$745$457$270$155$87$6
43 years$719$435$253$143$79$5
44 years$695$415$238$132$71$5
45 years$672$396$223$122$65$4
46 years$650$377$210$112$59$3
47 years$629$360$197$104$53$3
48 years$609$344$185$96$49$2
49 years$590$328$174$89$44$2
50 years$571$314$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $585,000, adding $2,043 every year, while hoping to spend $39,196 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: 41/50/9 Blend
50$585,000$585,000$585,000$585,000
51$646,777$615,772$606,705$671,486
52$671,044$604,241$585,325$677,451
53$696,473$590,831$561,916$679,820
54$723,140$575,409$536,367$681,498
55$751,130$557,833$508,564$682,436
56$780,533$537,954$478,389$682,588
57$811,447$515,614$445,715$681,902
58$843,981$490,646$410,413$680,329
59$878,251$462,871$372,346$677,814
60$914,384$432,103$331,371$674,304
61$952,520$398,145$287,340$669,744
62$992,808$360,785$240,097$664,078
63$1,035,414$319,804$189,480$657,250
64$1,080,519$274,966$135,320$649,202
65$1,128,318$226,026$77,440$639,878
66$1,179,027$172,721$15,654$629,220
67$1,232,880$114,777$0$617,172
68$1,290,134$51,901$0$608,508
69$1,351,070$0$0$600,264
70$1,415,996$0$0$599,822
71$1,485,249$0$0$629,854
72$1,559,198$0$0$661,967
73$1,638,246$0$0$696,344
74$1,722,838$0$0$733,183
75$1,813,459$0$0$772,702
76$1,910,642$0$0$815,142
77$2,014,973$0$0$860,765
78$2,127,093$0$0$909,859
79$2,247,707$0$0$962,742
80$2,377,589$0$0$1,019,761
81$2,517,588$0$0$1,081,300
82$2,668,637$0$0$1,147,777
83$2,831,763$0$0$1,219,654
84$3,008,091$0$0$1,297,439
85$3,198,861$0$0$1,381,690
86$3,405,434$0$0$1,473,020
87$3,629,307$0$0$1,572,103
88$3,872,124$0$0$1,679,681
89$4,135,697$0$0$1,796,569
90$4,422,016$0$0$1,923,665
91$4,733,270$0$0$2,061,955
92$5,071,869$0$0$2,212,527
93$5,440,463$0$0$2,376,575
94$5,841,968$0$0$2,555,415
95$6,279,594$0$0$2,750,494
96$6,756,872$0$0$2,963,405
97$7,277,691$0$0$3,195,903
98$7,846,330$0$0$3,449,918
99$8,467,498$0$0$3,727,575
100$9,146,383$0$0$4,031,215