Can I retire at age 51 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$48,474$48,042$47,621$47,210$46,808$45,658
2 years$23,997$23,550$23,117$22,697$22,290$21,138
3 years$15,839$15,390$14,958$14,542$14,141$13,024
4 years$11,761$11,313$10,886$10,477$10,086$9,012
5 years$9,315$8,870$8,448$8,047$7,667$6,639
6 years$7,684$7,243$6,827$6,435$6,067$5,086
7 years$6,520$6,083$5,673$5,291$4,934$4,000
8 years$5,648$5,214$4,811$4,438$4,093$3,206
9 years$4,969$4,540$4,144$3,781$3,447$2,606
10 years$4,427$4,001$3,613$3,259$2,937$2,141
11 years$3,983$3,562$3,181$2,836$2,526$1,774
12 years$3,614$3,197$2,823$2,488$2,189$1,480
13 years$3,302$2,889$2,522$2,196$1,909$1,241
14 years$3,035$2,626$2,266$1,950$1,673$1,045
15 years$2,803$2,399$2,046$1,739$1,473$884
16 years$2,601$2,201$1,855$1,557$1,302$749
17 years$2,422$2,027$1,688$1,399$1,154$637
18 years$2,264$1,873$1,541$1,261$1,027$543
19 years$2,122$1,736$1,411$1,139$915$463
20 years$1,995$1,613$1,295$1,032$817$396
21 years$1,880$1,503$1,191$936$731$339
22 years$1,776$1,403$1,097$851$656$290
23 years$1,680$1,312$1,013$775$588$249
24 years$1,593$1,229$937$707$529$213
25 years$1,513$1,154$868$646$476$183
26 years$1,440$1,084$805$590$429$157
27 years$1,371$1,020$748$540$387$135
28 years$1,308$961$695$495$349$116
29 years$1,250$907$647$454$315$100
30 years$1,195$857$602$417$285$86
31 years$1,144$810$562$383$257$74
32 years$1,096$766$524$352$233$64
33 years$1,051$726$489$323$211$55
34 years$1,009$688$457$298$191$47
35 years$970$652$427$274$173$41
36 years$932$619$400$252$156$35
37 years$897$588$374$232$142$30
38 years$864$559$350$214$129$26
39 years$832$531$328$198$117$22
40 years$803$506$308$182$106$19
41 years$774$481$289$168$96$17
42 years$747$458$271$155$87$14
43 years$722$437$254$143$79$12
44 years$697$416$238$132$72$11
45 years$674$397$224$122$65$9
46 years$652$379$210$113$59$8
47 years$631$361$198$104$54$7
48 years$611$345$186$96$49$6
49 years$592$329$174$89$44$5
50 years$573$315$164$82$40$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $587,000, adding $2,880 every year, while hoping to spend $44,544 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: 87/5/8 Blend
50$587,000$587,000$587,000$587,000
51$649,845$618,734$609,635$705,610
52$668,734$601,657$582,664$725,323
53$688,058$582,251$553,295$740,543
54$707,812$560,354$521,403$755,842
55$727,994$535,795$486,855$771,195
56$748,595$508,395$449,510$786,575
57$769,607$477,962$409,224$801,952
58$791,019$444,294$365,845$817,292
59$812,817$407,179$319,215$832,557
60$834,983$366,390$269,168$847,705
61$857,497$321,689$215,531$862,691
62$880,334$272,823$158,123$877,461
63$903,464$219,528$96,757$891,959
64$926,854$161,521$31,234$906,121
65$950,464$98,506$0$919,877
66$974,247$30,169$0$936,451
67$998,152$0$0$955,514
68$1,022,117$0$0$976,733
69$1,046,075$0$0$999,601
70$1,069,948$0$0$1,022,384
71$1,093,646$0$0$1,044,997
72$1,117,070$0$0$1,067,344
73$1,140,108$0$0$1,089,316
74$1,162,631$0$0$1,110,792
75$1,184,499$0$0$1,131,636
76$1,205,550$0$0$1,151,693
77$1,225,606$0$0$1,170,792
78$1,244,466$0$0$1,188,740
79$1,261,906$0$0$1,205,322
80$1,277,676$0$0$1,220,299
81$1,291,496$0$0$1,233,402
82$1,303,056$0$0$1,244,334
83$1,312,010$0$0$1,252,762
84$1,317,973$0$0$1,258,318
85$1,320,516$0$0$1,260,590
86$1,319,164$0$0$1,259,122
87$1,313,388$0$0$1,253,408
88$1,302,603$0$0$1,242,886
89$1,286,159$0$0$1,226,931
90$1,263,334$0$0$1,204,854
91$1,233,329$0$0$1,175,887
92$1,195,259$0$0$1,139,182
93$1,148,145$0$0$1,093,798
94$1,090,900$0$0$1,038,696
95$1,022,324$0$0$972,723
96$941,089$0$0$894,605
97$845,723$0$0$802,933
98$734,603$0$0$696,149
99$605,931$0$0$572,529
100$457,720$0$0$430,170