Can I retire at age 51 with 698,000?

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 $698,000?

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$57,640$57,127$56,626$56,137$55,660$54,292
2 years$28,535$28,003$27,488$26,989$26,505$25,135
3 years$18,834$18,300$17,787$17,292$16,816$15,487
4 years$13,985$13,453$12,944$12,458$11,993$10,716
5 years$11,076$10,547$10,045$9,569$9,117$7,895
6 years$9,137$8,613$8,118$7,652$7,214$6,048
7 years$7,753$7,233$6,746$6,291$5,867$4,757
8 years$6,716$6,200$5,721$5,278$4,867$3,813
9 years$5,909$5,398$4,928$4,495$4,099$3,099
10 years$5,264$4,758$4,296$3,875$3,492$2,546
11 years$4,737$4,236$3,782$3,373$3,004$2,110
12 years$4,298$3,802$3,357$2,958$2,603$1,760
13 years$3,926$3,436$2,999$2,612$2,270$1,476
14 years$3,608$3,123$2,695$2,318$1,990$1,243
15 years$3,333$2,853$2,433$2,067$1,752$1,051
16 years$3,092$2,618$2,206$1,851$1,548$891
17 years$2,880$2,411$2,007$1,663$1,373$757
18 years$2,692$2,228$1,832$1,499$1,221$645
19 years$2,524$2,064$1,677$1,354$1,088$551
20 years$2,372$1,918$1,539$1,227$972$471
21 years$2,236$1,787$1,416$1,113$870$403
22 years$2,111$1,668$1,305$1,012$780$345
23 years$1,998$1,560$1,205$922$700$296
24 years$1,895$1,462$1,114$841$629$254
25 years$1,800$1,372$1,032$768$566$218
26 years$1,712$1,289$957$702$510$187
27 years$1,631$1,213$889$643$460$161
28 years$1,556$1,143$826$589$415$138
29 years$1,486$1,079$769$540$374$119
30 years$1,421$1,019$716$496$338$102
31 years$1,360$963$668$455$306$88
32 years$1,303$911$623$418$277$76
33 years$1,250$863$582$385$250$65
34 years$1,200$818$544$354$227$56
35 years$1,153$776$508$326$205$48
36 years$1,109$736$475$300$186$42
37 years$1,067$699$445$276$169$36
38 years$1,027$664$417$255$153$31
39 years$990$632$390$235$139$27
40 years$954$601$366$217$126$23
41 years$921$572$343$200$114$20
42 years$889$545$322$185$104$17
43 years$858$519$302$170$94$15
44 years$829$495$283$157$85$13
45 years$802$472$266$145$77$11
46 years$775$450$250$134$70$9
47 years$750$430$235$124$64$8
48 years$726$410$221$115$58$7
49 years$703$392$207$106$53$6
50 years$681$374$195$98$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $698,000, adding $3,404 every year, while hoping to spend $40,104 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: 81/9/10 Blend
50$698,000$698,000$698,000$698,000
51$772,707$735,713$724,894$833,793
52$808,853$729,093$706,508$867,706
53$847,342$720,804$686,161$899,298
54$888,369$710,722$663,747$932,777
55$932,152$698,717$639,151$968,312
56$978,925$684,648$612,257$1,006,089
57$1,028,948$668,368$582,939$1,046,310
58$1,082,503$649,720$551,070$1,089,203
59$1,139,902$628,540$516,515$1,135,013
60$1,201,486$604,652$479,132$1,184,016
61$1,267,628$577,871$438,773$1,236,512
62$1,338,740$548,000$395,286$1,292,835
63$1,415,273$514,834$348,510$1,353,349
64$1,497,721$478,151$298,275$1,418,460
65$1,586,629$437,721$244,408$1,488,613
66$1,682,594$393,298$186,724$1,564,300
67$1,786,272$344,623$125,033$1,646,062
68$1,898,386$291,423$59,136$1,734,497
69$2,019,727$233,409$0$1,830,264
70$2,151,168$170,275$0$1,935,284
71$2,293,666$101,698$0$2,055,976
72$2,448,277$27,338$0$2,186,933
73$2,616,159$0$0$2,329,155
74$2,798,586$0$0$2,489,009
75$2,996,962$0$0$2,665,797
76$3,212,829$0$0$2,858,190
77$3,447,885$0$0$3,067,702
78$3,703,998$0$0$3,296,000
79$3,983,224$0$0$3,544,920
80$4,287,827$0$0$3,816,481
81$4,620,295$0$0$4,112,905
82$4,983,371$0$0$4,436,639
83$5,380,073$0$0$4,790,377
84$5,813,723$0$0$5,177,084
85$6,287,979$0$0$5,600,025
86$6,806,868$0$0$6,062,794
87$7,374,826$0$0$6,569,351
88$7,996,736$0$0$7,124,053
89$8,677,976$0$0$7,731,700
90$9,424,468$0$0$8,397,579
91$10,242,734$0$0$9,127,510
92$11,139,957$0$0$9,927,907
93$12,124,051$0$0$10,805,829
94$13,203,728$0$0$11,769,055
95$14,388,587$0$0$12,826,153
96$15,689,201$0$0$13,986,560
97$17,117,217$0$0$15,260,671
98$18,685,464$0$0$16,659,936
99$20,408,073$0$0$18,196,971
100$22,300,615$0$0$19,885,672