Can I retire at age 51 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$48,969$48,533$48,108$47,692$47,287$46,219
2 years$24,242$23,791$23,353$22,929$22,517$21,447
3 years$16,001$15,548$15,111$14,691$14,286$13,247
4 years$11,881$11,429$10,997$10,584$10,189$9,189
5 years$9,410$8,961$8,534$8,129$7,745$6,787
6 years$7,763$7,317$6,897$6,501$6,129$5,214
7 years$6,587$6,145$5,731$5,345$4,984$4,112
8 years$5,705$5,267$4,861$4,484$4,135$3,306
9 years$5,020$4,586$4,186$3,819$3,482$2,695
10 years$4,472$4,042$3,650$3,292$2,967$2,221
11 years$4,024$3,599$3,213$2,865$2,552$1,846
12 years$3,651$3,230$2,852$2,513$2,211$1,545
13 years$3,336$2,919$2,548$2,219$1,928$1,300
14 years$3,066$2,653$2,289$1,970$1,690$1,099
15 years$2,832$2,424$2,067$1,756$1,488$932
16 years$2,627$2,224$1,874$1,573$1,315$793
17 years$2,447$2,048$1,705$1,413$1,166$677
18 years$2,287$1,892$1,557$1,273$1,037$579
19 years$2,144$1,754$1,425$1,151$924$496
20 years$2,015$1,630$1,308$1,042$826$425
21 years$1,899$1,518$1,203$946$739$365
22 years$1,794$1,417$1,109$860$662$314
23 years$1,698$1,325$1,024$783$594$270
24 years$1,610$1,242$947$714$534$233
25 years$1,529$1,165$877$652$481$201
26 years$1,454$1,095$813$596$433$173
27 years$1,385$1,031$755$546$390$149
28 years$1,322$971$702$500$352$129
29 years$1,262$916$653$459$318$111
30 years$1,207$865$609$421$287$96
31 years$1,155$818$567$387$260$83
32 years$1,107$774$529$355$235$72
33 years$1,062$733$494$327$213$62
34 years$1,019$695$462$301$193$54
35 years$979$659$432$277$174$47
36 years$942$625$404$255$158$40
37 years$906$594$378$235$143$35
38 years$873$565$354$216$130$30
39 years$841$537$332$200$118$26
40 years$811$511$311$184$107$23
41 years$782$486$291$170$97$20
42 years$755$463$273$157$88$17
43 years$729$441$257$145$80$15
44 years$705$421$241$134$72$13
45 years$681$401$226$123$66$11
46 years$659$383$212$114$60$9
47 years$637$365$200$105$54$8
48 years$617$348$188$97$49$7
49 years$598$333$176$90$45$6
50 years$579$318$166$83$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $593,000, adding $5,062 every year, while hoping to spend $49,342 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: 53/39/8 Blend
50$593,000$593,000$593,000$593,000
51$658,707$627,278$618,087$692,058
52$673,396$605,516$586,293$693,483
53$687,929$581,033$551,781$689,227
54$702,239$553,644$514,407$683,419
55$716,249$523,154$474,021$675,922
56$729,872$489,355$430,467$666,588
57$743,014$452,028$383,581$655,258
58$755,564$410,940$333,195$641,760
59$767,403$365,847$279,128$625,907
60$778,394$316,490$221,195$607,500
61$788,388$262,595$159,202$586,323
62$797,214$203,873$92,946$562,142
63$804,686$140,019$22,215$534,706
64$810,593$70,709$0$503,741
65$814,704$0$0$473,501
66$816,759$0$0$443,327
67$816,471$0$0$442,096
68$813,520$0$0$439,278
69$807,552$0$0$434,662
70$798,173$0$0$428,019
71$784,948$0$0$419,092
72$767,392$0$0$407,599
73$744,971$0$0$393,224
74$717,091$0$0$375,621
75$683,095$0$0$354,405
76$642,257$0$0$329,149
77$593,772$0$0$299,383
78$536,751$0$0$264,586
79$470,209$0$0$224,181
80$393,060$0$0$177,532
81$304,101$0$0$123,935
82$202,002$0$0$62,613
83$85,297$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0