Can I retire at age 51 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$57,310$56,799$56,301$55,815$55,341$53,872
2 years$28,371$27,843$27,331$26,834$26,353$24,883
3 years$18,726$18,196$17,685$17,193$16,719$15,295
4 years$13,905$13,376$12,870$12,387$11,924$10,556
5 years$11,013$10,487$9,988$9,514$9,065$7,756
6 years$9,085$8,563$8,072$7,608$7,173$5,926
7 years$7,709$7,191$6,707$6,255$5,833$4,647
8 years$6,677$6,164$5,688$5,247$4,839$3,714
9 years$5,875$5,367$4,899$4,470$4,075$3,010
10 years$5,234$4,731$4,271$3,853$3,472$2,465
11 years$4,710$4,212$3,761$3,353$2,986$2,036
12 years$4,273$3,780$3,337$2,941$2,588$1,693
13 years$3,904$3,416$2,982$2,597$2,257$1,415
14 years$3,588$3,105$2,679$2,305$1,978$1,188
15 years$3,314$2,837$2,419$2,056$1,742$1,001
16 years$3,075$2,603$2,193$1,841$1,539$845
17 years$2,864$2,397$1,996$1,654$1,365$716
18 years$2,676$2,215$1,822$1,490$1,214$608
19 years$2,509$2,053$1,668$1,347$1,082$517
20 years$2,359$1,907$1,531$1,220$966$440
21 years$2,223$1,777$1,408$1,107$865$375
22 years$2,099$1,658$1,297$1,006$775$320
23 years$1,987$1,551$1,198$917$696$273
24 years$1,884$1,453$1,108$836$625$233
25 years$1,789$1,364$1,026$763$563$200
26 years$1,702$1,282$952$698$507$171
27 years$1,621$1,206$884$639$457$146
28 years$1,547$1,137$822$585$412$125
29 years$1,477$1,072$765$537$372$107
30 years$1,413$1,013$712$493$336$92
31 years$1,352$957$664$453$304$79
32 years$1,296$906$619$416$275$68
33 years$1,243$858$578$382$249$58
34 years$1,193$813$540$352$225$50
35 years$1,146$771$505$324$204$43
36 years$1,102$732$473$298$185$37
37 years$1,061$695$442$275$168$31
38 years$1,021$661$414$253$152$27
39 years$984$628$388$234$138$23
40 years$949$598$364$215$125$20
41 years$915$569$341$199$113$17
42 years$884$542$320$183$103$15
43 years$853$516$300$169$93$13
44 years$825$492$282$156$85$11
45 years$797$469$265$144$77$9
46 years$771$448$249$133$70$8
47 years$746$427$234$123$63$7
48 years$722$408$219$114$58$6
49 years$699$389$206$105$52$5
50 years$678$372$194$97$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $694,000, adding $3,592 every year, while hoping to spend $48,313 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$694,000$694,000$694,000$694,000
51$768,493$731,711$720,954$834,424
52$795,475$716,160$693,701$862,397
53$823,589$698,228$663,917$886,100
54$852,901$677,747$631,464$910,602
55$883,480$654,540$596,201$935,948
56$915,401$628,418$557,979$962,188
57$948,745$599,183$516,644$989,377
58$983,598$566,625$472,034$1,017,575
59$1,020,057$530,521$423,978$1,046,845
60$1,058,222$490,636$372,301$1,077,260
61$1,098,205$446,722$316,817$1,108,897
62$1,140,126$398,515$257,335$1,141,843
63$1,184,115$345,738$193,651$1,176,190
64$1,230,312$288,097$125,557$1,212,042
65$1,278,873$225,283$52,831$1,249,513
66$1,329,964$156,967$0$1,288,725
67$1,383,766$82,805$0$1,331,931
68$1,440,477$2,429$0$1,382,115
69$1,500,314$0$0$1,434,951
70$1,563,510$0$0$1,495,293
71$1,630,323$0$0$1,559,232
72$1,701,031$0$0$1,626,903
73$1,775,941$0$0$1,698,598
74$1,855,386$0$0$1,774,636
75$1,939,730$0$0$1,855,369
76$2,029,374$0$0$1,941,177
77$2,124,752$0$0$2,032,480
78$2,226,343$0$0$2,129,734
79$2,334,670$0$0$2,233,441
80$2,450,305$0$0$2,344,151
81$2,573,876$0$0$2,462,464
82$2,706,070$0$0$2,589,040
83$2,847,643$0$0$2,724,602
84$2,999,422$0$0$2,869,944
85$3,162,313$0$0$3,025,934
86$3,337,313$0$0$3,193,527
87$3,525,515$0$0$3,373,772
88$3,728,119$0$0$3,567,819
89$3,946,444$0$0$3,776,932
90$4,181,936$0$0$4,002,497
91$4,436,187$0$0$4,246,040
92$4,710,943$0$0$4,509,237
93$5,008,126$0$0$4,793,927
94$5,329,847$0$0$5,102,135
95$5,678,427$0$0$5,436,086
96$6,056,416$0$0$5,798,227
97$6,466,623$0$0$6,191,247
98$6,912,133$0$0$6,618,106
99$7,396,342$0$0$7,082,057
100$7,922,983$0$0$7,586,683