Can I retire at age 51 with 1,020,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$84,231$83,480$82,748$82,034$81,336$79,467
2 years$41,698$40,922$40,169$39,439$38,732$36,858
3 years$27,523$26,743$25,992$25,269$24,573$22,755
4 years$20,436$19,659$18,916$18,205$17,526$15,776
5 years$16,186$15,413$14,679$13,983$13,323$11,647
6 years$13,353$12,586$11,863$11,182$10,542$8,942
7 years$11,330$10,569$9,858$9,194$8,573$7,049
8 years$9,814$9,060$8,361$7,712$7,112$5,663
9 years$8,635$7,888$7,201$6,569$5,990$4,614
10 years$7,692$6,953$6,278$5,663$5,103$3,801
11 years$6,922$6,190$5,527$4,928$4,389$3,157
12 years$6,280$5,556$4,905$4,323$3,804$2,640
13 years$5,738$5,021$4,382$3,816$3,317$2,220
14 years$5,273$4,564$3,938$3,388$2,907$1,875
15 years$4,871$4,169$3,555$3,021$2,560$1,590
16 years$4,519$3,825$3,223$2,705$2,262$1,352
17 years$4,209$3,523$2,933$2,431$2,006$1,152
18 years$3,934$3,255$2,677$2,190$1,784$985
19 years$3,688$3,017$2,451$1,979$1,590$843
20 years$3,467$2,803$2,249$1,793$1,420$722
21 years$3,267$2,611$2,069$1,627$1,271$620
22 years$3,085$2,438$1,907$1,479$1,139$533
23 years$2,920$2,280$1,761$1,347$1,023$458
24 years$2,769$2,136$1,628$1,229$919$394
25 years$2,630$2,005$1,508$1,122$827$340
26 years$2,502$1,884$1,399$1,026$745$293
27 years$2,383$1,773$1,299$939$672$252
28 years$2,273$1,671$1,208$860$606$218
29 years$2,171$1,576$1,124$789$547$188
30 years$2,076$1,488$1,047$724$494$162
31 years$1,988$1,407$976$665$447$140
32 years$1,905$1,331$910$611$404$121
33 years$1,827$1,261$850$562$366$105
34 years$1,754$1,195$794$517$331$90
35 years$1,685$1,133$743$476$300$78
36 years$1,620$1,076$695$438$272$67
37 years$1,559$1,022$650$404$246$58
38 years$1,501$971$609$372$223$50
39 years$1,446$923$570$343$203$44
40 years$1,395$879$535$317$184$38
41 years$1,345$836$501$292$167$33
42 years$1,299$796$470$270$151$28
43 years$1,254$759$441$249$137$24
44 years$1,212$723$414$230$125$21
45 years$1,172$690$389$212$113$18
46 years$1,133$658$365$196$103$16
47 years$1,097$628$343$181$93$14
48 years$1,061$599$323$167$85$12
49 years$1,028$572$303$155$77$10
50 years$996$547$285$143$70$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,020,000, adding $3,795 every year, while hoping to spend $22,284 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: 78/6/16 Blend
50$1,020,000$1,020,000$1,020,000$1,020,000
51$1,127,955$1,073,895$1,058,085$1,211,756
52$1,219,296$1,102,805$1,069,820$1,296,457
53$1,319,207$1,132,386$1,081,202$1,386,147
54$1,428,539$1,162,646$1,092,196$1,483,914
55$1,548,228$1,193,593$1,102,762$1,590,559
56$1,679,306$1,225,238$1,112,863$1,706,962
57$1,822,908$1,257,587$1,122,457$1,834,093
58$1,980,285$1,290,650$1,131,500$1,973,022
59$2,152,815$1,324,433$1,139,946$2,124,924
60$2,342,016$1,358,943$1,147,748$2,291,096
61$2,549,557$1,394,187$1,154,853$2,472,968
62$2,777,281$1,430,171$1,161,209$2,672,113
63$3,027,214$1,466,900$1,166,760$2,890,264
64$3,301,589$1,504,378$1,171,446$3,129,332
65$3,602,867$1,542,608$1,175,206$3,391,422
66$3,933,758$1,581,594$1,177,973$3,678,852
67$4,297,247$1,621,338$1,179,681$3,994,178
68$4,696,622$1,661,839$1,180,256$4,340,214
69$5,135,507$1,703,099$1,179,624$4,720,062
70$5,617,893$1,745,115$1,177,706$5,137,139
71$6,148,177$1,787,884$1,174,418$5,595,213
72$6,731,203$1,831,403$1,169,673$6,098,432
73$7,372,309$1,875,665$1,163,381$6,651,369
74$8,077,376$1,920,664$1,155,445$7,259,062
75$8,852,882$1,966,390$1,145,766$7,927,063
76$9,705,965$2,012,833$1,134,239$8,661,490
77$10,644,491$2,059,979$1,120,753$9,469,085
78$11,677,125$2,107,813$1,105,194$10,357,276
79$12,813,414$2,156,319$1,087,440$11,334,249
80$14,063,879$2,205,475$1,067,367$12,409,025
81$15,440,112$2,255,261$1,044,841$13,591,545
82$16,954,885$2,305,650$1,019,724$14,892,762
83$18,622,271$2,356,615$991,873$16,324,749
84$20,457,777$2,408,123$961,135$17,900,808
85$22,478,490$2,460,141$927,352$19,635,596
86$24,703,237$2,512,629$890,360$21,545,269
87$27,152,764$2,565,544$849,984$23,647,627
88$29,849,932$2,618,842$806,044$25,962,287
89$32,819,930$2,672,470$758,351$28,510,868
90$36,090,514$2,726,373$706,708$31,317,191
91$39,692,272$2,780,490$650,907$34,407,510
92$43,658,905$2,834,755$590,734$37,810,754
93$48,027,552$2,889,097$525,963$41,558,805
94$52,839,137$2,943,438$456,358$45,686,796
95$58,138,757$2,997,694$381,673$50,233,444
96$63,976,104$3,051,775$301,653$55,241,414
97$70,405,937$3,105,582$216,029$60,757,726
98$77,488,597$3,159,010$124,520$66,834,193
99$85,290,578$3,211,946$26,836$73,527,916
100$93,885,153$3,264,267$0$80,901,819