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

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 $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%11.6%
1 years$84,231$83,480$82,748$82,034$81,336$80,790
2 years$41,698$40,922$40,169$39,439$38,732$38,180
3 years$27,523$26,743$25,992$25,269$24,573$24,034
4 years$20,436$19,659$18,916$18,205$17,526$17,003
5 years$16,186$15,413$14,679$13,983$13,323$12,819
6 years$13,353$12,586$11,863$11,182$10,542$10,056
7 years$11,330$10,569$9,858$9,194$8,573$8,107
8 years$9,814$9,060$8,361$7,712$7,112$6,665
9 years$8,635$7,888$7,201$6,569$5,990$5,561
10 years$7,692$6,953$6,278$5,663$5,103$4,694
11 years$6,922$6,190$5,527$4,928$4,389$3,998
12 years$6,280$5,556$4,905$4,323$3,804$3,430
13 years$5,738$5,021$4,382$3,816$3,317$2,961
14 years$5,273$4,564$3,938$3,388$2,907$2,569
15 years$4,871$4,169$3,555$3,021$2,560$2,238
16 years$4,519$3,825$3,223$2,705$2,262$1,957
17 years$4,209$3,523$2,933$2,431$2,006$1,716
18 years$3,934$3,255$2,677$2,190$1,784$1,509
19 years$3,688$3,017$2,451$1,979$1,590$1,330
20 years$3,467$2,803$2,249$1,793$1,420$1,174
21 years$3,267$2,611$2,069$1,627$1,271$1,039
22 years$3,085$2,438$1,907$1,479$1,139$920
23 years$2,920$2,280$1,761$1,347$1,023$816
24 years$2,769$2,136$1,628$1,229$919$725
25 years$2,630$2,005$1,508$1,122$827$644
26 years$2,502$1,884$1,399$1,026$745$573
27 years$2,383$1,773$1,299$939$672$510
28 years$2,273$1,671$1,208$860$606$455
29 years$2,171$1,576$1,124$789$547$405
30 years$2,076$1,488$1,047$724$494$362
31 years$1,988$1,407$976$665$447$323
32 years$1,905$1,331$910$611$404$288
33 years$1,827$1,261$850$562$366$257
34 years$1,754$1,195$794$517$331$230
35 years$1,685$1,133$743$476$300$206
36 years$1,620$1,076$695$438$272$184
37 years$1,559$1,022$650$404$246$164
38 years$1,501$971$609$372$223$147
39 years$1,446$923$570$343$203$132
40 years$1,395$879$535$317$184$118
41 years$1,345$836$501$292$167$105
42 years$1,299$796$470$270$151$94
43 years$1,254$759$441$249$137$84
44 years$1,212$723$414$230$125$76
45 years$1,172$690$389$212$113$68
46 years$1,133$658$365$196$103$61
47 years$1,097$628$343$181$93$54
48 years$1,061$599$323$167$85$49
49 years$1,028$572$303$155$77$43
50 years$996$547$285$143$70$39

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 $5,062 every year, while hoping to spend $21,194 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: 45/45/10 Blend
50$1,020,000$1,020,000$1,020,000$1,020,000
51$1,129,261$1,075,201$1,059,391$1,176,665
52$1,221,896$1,105,336$1,072,331$1,240,145
53$1,323,269$1,136,237$1,084,993$1,306,362
54$1,434,249$1,167,919$1,097,347$1,377,682
55$1,555,793$1,200,398$1,109,359$1,454,583
56$1,688,955$1,233,689$1,120,994$1,537,591
57$1,834,896$1,267,807$1,132,215$1,627,285
58$1,994,893$1,302,767$1,142,982$1,724,303
59$2,170,354$1,338,585$1,153,254$1,829,344
60$2,362,830$1,375,275$1,162,987$1,943,181
61$2,574,028$1,412,853$1,172,136$2,066,663
62$2,805,828$1,451,333$1,180,653$2,200,725
63$3,060,304$1,490,729$1,188,486$2,346,395
64$3,339,738$1,531,057$1,195,583$2,504,808
65$3,646,643$1,572,331$1,201,887$2,677,210
66$3,983,789$1,614,564$1,207,338$2,864,976
67$4,354,228$1,657,770$1,211,876$3,069,619
68$4,761,320$1,701,961$1,215,435$3,292,805
69$5,208,769$1,747,152$1,217,947$3,536,370
70$5,700,654$1,793,353$1,219,339$3,802,335
71$6,241,470$1,840,577$1,219,536$4,092,927
72$6,836,169$1,888,834$1,218,459$4,410,598
73$7,490,206$1,938,135$1,216,026$4,758,050
74$8,209,593$1,988,489$1,212,148$5,138,260
75$9,000,952$2,039,905$1,206,736$5,554,507
76$9,871,579$2,092,391$1,199,692$6,010,402
77$10,829,516$2,145,954$1,190,917$6,509,927
78$11,883,620$2,200,599$1,180,306$7,057,465
79$13,043,651$2,256,330$1,167,748$7,657,848
80$14,320,364$2,313,151$1,153,129$8,316,399
81$15,725,610$2,371,064$1,136,327$9,038,982
82$17,272,444$2,430,068$1,117,216$9,832,060
83$18,975,254$2,490,162$1,095,663$10,702,752
84$20,849,893$2,551,343$1,071,531$11,658,904
85$22,913,829$2,613,606$1,044,674$12,709,162
86$25,186,310$2,676,943$1,014,941$13,863,051
87$27,688,544$2,741,344$982,172$15,131,069
88$30,443,904$2,806,798$946,203$16,524,781
89$33,478,140$2,873,289$906,859$18,056,935
90$36,819,631$2,940,801$863,959$19,741,575
91$40,499,645$3,009,312$817,314$21,594,179
92$44,552,641$3,078,800$766,726$23,631,802
93$49,016,585$3,149,236$711,986$25,873,240
94$53,933,319$3,220,591$652,880$28,339,203
95$59,348,946$3,292,828$589,180$31,052,515
96$65,314,271$3,365,910$520,650$34,038,328
97$71,885,280$3,439,792$447,045$37,324,358
98$79,123,663$3,514,427$368,106$40,941,150
99$87,097,403$3,589,760$283,564$44,922,362
100$95,881,413$3,665,733$193,138$49,305,088