Can I retire at age 51 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$57,558$57,045$56,545$56,056$55,580$55,045
2 years$28,494$27,963$27,449$26,950$26,467$25,928
3 years$18,807$18,274$17,761$17,267$16,791$16,266
4 years$13,965$13,434$12,926$12,440$11,976$11,467
5 years$11,060$10,532$10,031$9,555$9,104$8,613
6 years$9,124$8,600$8,106$7,641$7,204$6,732
7 years$7,742$7,222$6,736$6,282$5,858$5,406
8 years$6,706$6,191$5,713$5,270$4,860$4,427
9 years$5,901$5,390$4,921$4,489$4,093$3,678
10 years$5,257$4,751$4,290$3,870$3,487$3,092
11 years$4,730$4,230$3,777$3,368$2,999$2,622
12 years$4,291$3,796$3,352$2,954$2,599$2,240
13 years$3,921$3,431$2,995$2,608$2,266$1,925
14 years$3,603$3,119$2,691$2,315$1,987$1,662
15 years$3,328$2,849$2,429$2,065$1,749$1,441
16 years$3,088$2,614$2,203$1,849$1,546$1,254
17 years$2,876$2,407$2,004$1,661$1,371$1,095
18 years$2,688$2,224$1,830$1,497$1,219$958
19 years$2,520$2,062$1,675$1,353$1,086$840
20 years$2,369$1,916$1,537$1,225$970$738
21 years$2,232$1,784$1,414$1,112$868$649
22 years$2,108$1,666$1,303$1,011$778$572
23 years$1,995$1,558$1,203$921$699$505
24 years$1,892$1,460$1,113$840$628$446
25 years$1,797$1,370$1,031$767$565$394
26 years$1,709$1,287$956$701$509$349
27 years$1,628$1,212$888$642$459$309
28 years$1,553$1,142$825$588$414$274
29 years$1,484$1,077$768$539$374$243
30 years$1,419$1,017$715$495$338$215
31 years$1,358$962$667$454$305$191
32 years$1,301$910$622$418$276$170
33 years$1,248$862$581$384$250$151
34 years$1,198$817$543$353$226$134
35 years$1,151$775$507$325$205$119
36 years$1,107$735$475$300$186$106
37 years$1,065$698$444$276$168$94
38 years$1,026$664$416$254$153$83
39 years$988$631$390$235$138$74
40 years$953$600$365$216$126$66
41 years$919$571$343$200$114$59
42 years$887$544$321$184$103$52
43 years$857$519$302$170$94$46
44 years$828$494$283$157$85$41
45 years$801$471$266$145$77$37
46 years$774$450$250$134$70$33
47 years$749$429$235$124$64$29
48 years$725$410$220$114$58$26
49 years$702$391$207$106$53$23
50 years$681$374$195$98$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $697,000, adding $6,062 every year, while hoping to spend $34,084 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: 60/19/21 Blend
50$697,000$697,000$697,000$697,000
51$774,347$737,406$726,602$816,184
52$817,065$737,274$714,679$845,112
53$862,998$735,993$701,213$872,394
54$912,438$733,471$686,118$901,396
55$965,706$729,609$669,301$932,291
56$1,023,153$724,305$650,668$965,271
57$1,085,166$717,448$630,117$1,000,548
58$1,152,171$708,921$607,544$1,038,356
59$1,224,634$698,600$582,838$1,078,956
60$1,303,070$686,353$555,886$1,122,638
61$1,388,041$672,043$526,567$1,169,719
62$1,480,170$655,522$494,755$1,220,554
63$1,580,137$636,633$460,320$1,275,535
64$1,688,695$615,212$423,124$1,335,096
65$1,806,668$591,083$383,025$1,399,717
66$1,934,965$564,063$339,873$1,469,928
67$2,074,585$533,955$293,512$1,546,319
68$2,226,627$500,553$243,779$1,629,539
69$2,392,301$463,638$190,504$1,720,308
70$2,572,938$422,979$133,508$1,819,421
71$2,770,004$378,331$72,607$1,927,759
72$2,985,111$329,436$7,606$2,046,295
73$3,220,035$276,021$0$2,176,104
74$3,476,730$217,798$0$2,332,215
75$3,757,348$154,462$0$2,504,821
76$4,064,258$85,691$0$2,693,718
77$4,400,068$11,145$0$2,900,562
78$4,767,650$0$0$3,127,181
79$5,170,167$0$0$3,390,129
80$5,611,101$0$0$3,680,780
81$6,094,289$0$0$3,999,341
82$6,623,953$0$0$4,348,604
83$7,204,747$0$0$4,731,644
84$7,841,794$0$0$5,151,847
85$8,540,737$0$0$5,612,944
86$9,307,795$0$0$6,119,045
87$10,149,812$0$0$6,674,677
88$11,074,334$0$0$7,284,824
89$12,089,667$0$0$7,954,980
90$13,204,966$0$0$8,691,197
91$14,430,313$0$0$9,500,138
92$15,776,816$0$0$10,389,149
93$17,256,713$0$0$11,366,319
94$18,883,485$0$0$12,440,560
95$20,671,985$0$0$13,621,693
96$22,638,578$0$0$14,920,535
97$24,801,291$0$0$16,349,006
98$27,179,989$0$0$17,920,239
99$29,796,557$0$0$19,648,702
100$32,675,107$0$0$21,550,336