Can I retire at age 51 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$57,227$56,718$56,220$55,735$55,261$53,470
2 years$28,330$27,803$27,291$26,796$26,315$24,528
3 years$18,699$18,169$17,659$17,168$16,695$14,968
4 years$13,885$13,356$12,851$12,369$11,907$10,252
5 years$10,997$10,472$9,973$9,500$9,052$7,474
6 years$9,072$8,551$8,060$7,598$7,162$5,663
7 years$7,698$7,181$6,698$6,246$5,825$4,404
8 years$6,668$6,155$5,680$5,240$4,832$3,489
9 years$5,867$5,359$4,892$4,463$4,069$2,802
10 years$5,226$4,724$4,265$3,847$3,467$2,273
11 years$4,703$4,206$3,755$3,348$2,982$1,860
12 years$4,267$3,775$3,333$2,937$2,584$1,531
13 years$3,898$3,411$2,977$2,593$2,253$1,267
14 years$3,583$3,101$2,675$2,302$1,975$1,052
15 years$3,309$2,833$2,415$2,053$1,739$877
16 years$3,070$2,599$2,190$1,838$1,537$733
17 years$2,860$2,393$1,993$1,651$1,363$614
18 years$2,673$2,212$1,819$1,488$1,212$515
19 years$2,506$2,050$1,665$1,345$1,080$433
20 years$2,355$1,905$1,528$1,218$965$365
21 years$2,220$1,774$1,406$1,105$863$307
22 years$2,096$1,656$1,296$1,005$774$259
23 years$1,984$1,549$1,196$915$695$219
24 years$1,881$1,451$1,106$835$624$185
25 years$1,787$1,362$1,025$762$562$156
26 years$1,700$1,280$950$697$506$132
27 years$1,619$1,205$882$638$456$112
28 years$1,545$1,135$820$585$412$94
29 years$1,475$1,071$763$536$372$80
30 years$1,411$1,011$711$492$336$68
31 years$1,350$956$663$452$304$57
32 years$1,294$905$619$415$275$48
33 years$1,241$857$578$382$249$41
34 years$1,191$812$540$351$225$35
35 years$1,145$770$505$323$204$29
36 years$1,101$731$472$298$185$25
37 years$1,059$694$442$274$167$21
38 years$1,020$660$414$253$152$18
39 years$983$627$388$233$138$15
40 years$947$597$363$215$125$13
41 years$914$568$341$198$113$11
42 years$882$541$320$183$103$9
43 years$852$516$300$169$93$8
44 years$823$491$281$156$85$7
45 years$796$469$264$144$77$6
46 years$770$447$248$133$70$5
47 years$745$427$233$123$63$4
48 years$721$407$219$114$58$3
49 years$698$389$206$105$52$3
50 years$677$372$194$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $693,000, adding $5,913 every year, while hoping to spend $47,477 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: 43/49/8 Blend
50$693,000$693,000$693,000$693,000
51$769,785$733,056$722,315$800,859
52$797,788$718,461$695,997$808,445
53$827,056$701,559$667,207$811,358
54$857,668$682,188$635,810$813,427
55$889,710$660,174$601,669$814,591
56$923,273$635,335$564,638$814,790
57$958,458$607,478$524,565$813,958
58$995,374$576,398$481,291$812,028
59$1,034,139$541,878$434,651$808,933
60$1,074,880$503,690$384,471$804,600
61$1,117,739$461,591$330,571$798,957
62$1,162,865$415,325$272,762$791,928
63$1,210,424$364,623$210,846$783,437
64$1,260,596$309,198$144,618$773,405
65$1,313,576$248,749$73,863$761,751
66$1,369,580$182,957$0$748,396
67$1,428,839$111,484$0$733,398
68$1,491,609$33,975$0$723,271
69$1,558,168$0$0$711,643
70$1,628,820$0$0$725,384
71$1,703,897$0$0$759,497
72$1,783,765$0$0$795,834
73$1,868,819$0$0$834,581
74$1,959,498$0$0$875,944
75$2,056,277$0$0$920,148
76$2,159,680$0$0$967,438
77$2,270,281$0$0$1,018,085
78$2,388,709$0$0$1,072,385
79$2,515,652$0$0$1,130,663
80$2,651,866$0$0$1,193,276
81$2,798,183$0$0$1,260,614
82$2,955,513$0$0$1,333,109
83$3,124,855$0$0$1,411,230
84$3,307,309$0$0$1,495,498
85$3,504,080$0$0$1,586,481
86$3,716,494$0$0$1,684,806
87$3,946,006$0$0$1,791,159
88$4,194,217$0$0$1,906,298
89$4,462,885$0$0$2,031,052
90$4,753,945$0$0$2,166,336
91$5,069,522$0$0$2,313,155
92$5,411,955$0$0$2,472,614
93$5,783,813$0$0$2,645,928
94$6,187,926$0$0$2,834,435
95$6,627,405$0$0$3,039,607
96$7,105,673$0$0$3,263,061
97$7,626,495$0$0$3,506,581
98$8,194,016$0$0$3,772,127
99$8,812,798$0$0$4,061,856
100$9,487,860$0$0$4,378,144