Can I retire at age 51 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$58,301$57,782$57,275$56,780$56,297$54,214
2 years$28,862$28,324$27,803$27,298$26,808$24,733
3 years$19,050$18,510$17,991$17,490$17,008$15,006
4 years$14,145$13,607$13,093$12,601$12,130$10,216
5 years$11,203$10,668$10,160$9,679$9,221$7,401
6 years$9,242$8,711$8,211$7,740$7,297$5,571
7 years$7,842$7,316$6,823$6,364$5,934$4,303
8 years$6,793$6,271$5,787$5,338$4,923$3,384
9 years$5,977$5,460$4,984$4,547$4,146$2,698
10 years$5,324$4,813$4,345$3,920$3,532$2,173
11 years$4,791$4,284$3,826$3,411$3,038$1,763
12 years$4,347$3,845$3,395$2,992$2,633$1,440
13 years$3,971$3,475$3,033$2,642$2,296$1,182
14 years$3,650$3,159$2,725$2,345$2,012$974
15 years$3,371$2,886$2,461$2,091$1,772$805
16 years$3,128$2,648$2,231$1,872$1,566$667
17 years$2,913$2,438$2,030$1,682$1,389$554
18 years$2,723$2,253$1,853$1,516$1,235$461
19 years$2,553$2,088$1,697$1,370$1,100$384
20 years$2,399$1,940$1,557$1,241$983$320
21 years$2,261$1,807$1,432$1,126$880$267
22 years$2,136$1,687$1,320$1,024$788$223
23 years$2,021$1,578$1,219$932$708$187
24 years$1,916$1,478$1,127$850$636$156
25 years$1,820$1,387$1,044$777$572$131
26 years$1,731$1,304$968$710$516$109
27 years$1,650$1,227$899$650$465$92
28 years$1,574$1,156$836$596$419$77
29 years$1,503$1,091$778$546$379$64
30 years$1,437$1,030$724$501$342$54
31 years$1,376$974$675$460$309$45
32 years$1,318$922$630$423$280$38
33 years$1,264$873$588$389$253$32
34 years$1,214$827$550$358$229$27
35 years$1,166$785$514$330$208$22
36 years$1,121$745$481$303$188$19
37 years$1,079$707$450$280$171$16
38 years$1,039$672$421$258$155$13
39 years$1,001$639$395$238$140$11
40 years$965$608$370$219$127$9
41 years$931$579$347$202$115$8
42 years$899$551$326$187$105$7
43 years$868$525$305$172$95$5
44 years$839$501$287$159$86$5
45 years$811$477$269$147$78$4
46 years$784$455$253$136$71$3
47 years$759$435$238$125$65$3
48 years$735$415$223$116$59$2
49 years$712$396$210$107$53$2
50 years$689$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $706,000, adding $3,507 every year, while hoping to spend $34,415 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: 66/18/16 Blend
50$706,000$706,000$706,000$706,000
51$781,629$744,211$733,268$829,975
52$824,738$744,061$721,216$862,587
53$871,091$742,749$707,606$893,896
54$920,982$740,183$692,350$927,272
55$974,734$736,264$675,356$962,917
56$1,032,703$730,887$656,527$1,001,054
57$1,095,280$723,941$635,761$1,041,928
58$1,162,892$715,308$612,952$1,085,811
59$1,236,011$704,862$587,991$1,133,006
60$1,315,155$692,472$560,759$1,183,843
61$1,400,894$677,996$531,138$1,238,691
62$1,493,853$661,286$498,999$1,297,957
63$1,594,721$642,184$464,210$1,362,089
64$1,704,256$620,524$426,634$1,431,585
65$1,823,289$596,129$386,126$1,506,991
66$1,952,737$568,812$342,534$1,588,916
67$2,093,609$538,376$295,701$1,678,029
68$2,247,013$504,612$245,463$1,775,070
69$2,414,169$467,300$191,647$1,880,856
70$2,596,422$426,204$134,075$1,996,291
71$2,795,248$381,080$72,557$2,122,373
72$3,012,275$331,664$6,900$2,260,203
73$3,249,295$277,683$0$2,410,999
74$3,508,277$218,845$0$2,586,887
75$3,791,395$154,841$0$2,780,527
76$4,101,036$85,347$0$2,992,416
77$4,439,832$10,020$0$3,224,403
78$4,810,681$0$0$3,478,526
79$5,216,774$0$0$3,771,196
80$5,661,623$0$0$4,094,017
81$6,149,098$0$0$4,447,818
82$6,683,460$0$0$4,835,697
83$7,269,402$0$0$5,261,067
84$7,912,093$0$0$5,727,686
85$8,617,228$0$0$6,239,696
86$9,391,076$0$0$6,801,656
87$10,240,546$0$0$7,418,590
88$11,173,246$0$0$8,096,030
89$12,197,559$0$0$8,840,073
90$13,322,718$0$0$9,657,433
91$14,558,896$0$0$10,555,507
92$15,917,297$0$0$11,542,445
93$17,410,266$0$0$12,627,224
94$19,051,405$0$0$13,819,736
95$20,855,697$0$0$15,130,876
96$22,839,650$0$0$16,572,651
97$25,021,451$0$0$18,158,288
98$27,421,138$0$0$19,902,359
99$30,060,790$0$0$21,820,920
100$32,964,732$0$0$23,931,664