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%16.2%
1 years$84,231$83,480$82,748$82,034$81,336$79,273
2 years$41,698$40,922$40,169$39,439$38,732$36,667
3 years$27,523$26,743$25,992$25,269$24,573$22,571
4 years$20,436$19,659$18,916$18,205$17,526$15,601
5 years$16,186$15,413$14,679$13,983$13,323$11,482
6 years$13,353$12,586$11,863$11,182$10,542$8,786
7 years$11,330$10,569$9,858$9,194$8,573$6,903
8 years$9,814$9,060$8,361$7,712$7,112$5,526
9 years$8,635$7,888$7,201$6,569$5,990$4,487
10 years$7,692$6,953$6,278$5,663$5,103$3,682
11 years$6,922$6,190$5,527$4,928$4,389$3,047
12 years$6,280$5,556$4,905$4,323$3,804$2,538
13 years$5,738$5,021$4,382$3,816$3,317$2,126
14 years$5,273$4,564$3,938$3,388$2,907$1,788
15 years$4,871$4,169$3,555$3,021$2,560$1,509
16 years$4,519$3,825$3,223$2,705$2,262$1,278
17 years$4,209$3,523$2,933$2,431$2,006$1,085
18 years$3,934$3,255$2,677$2,190$1,784$923
19 years$3,688$3,017$2,451$1,979$1,590$786
20 years$3,467$2,803$2,249$1,793$1,420$671
21 years$3,267$2,611$2,069$1,627$1,271$573
22 years$3,085$2,438$1,907$1,479$1,139$490
23 years$2,920$2,280$1,761$1,347$1,023$420
24 years$2,769$2,136$1,628$1,229$919$359
25 years$2,630$2,005$1,508$1,122$827$308
26 years$2,502$1,884$1,399$1,026$745$264
27 years$2,383$1,773$1,299$939$672$227
28 years$2,273$1,671$1,208$860$606$195
29 years$2,171$1,576$1,124$789$547$167
30 years$2,076$1,488$1,047$724$494$144
31 years$1,988$1,407$976$665$447$123
32 years$1,905$1,331$910$611$404$106
33 years$1,827$1,261$850$562$366$91
34 years$1,754$1,195$794$517$331$78
35 years$1,685$1,133$743$476$300$67
36 years$1,620$1,076$695$438$272$58
37 years$1,559$1,022$650$404$246$50
38 years$1,501$971$609$372$223$43
39 years$1,446$923$570$343$203$37
40 years$1,395$879$535$317$184$32
41 years$1,345$836$501$292$167$27
42 years$1,299$796$470$270$151$23
43 years$1,254$759$441$249$137$20
44 years$1,212$723$414$230$125$17
45 years$1,172$690$389$212$113$15
46 years$1,133$658$365$196$103$13
47 years$1,097$628$343$181$93$11
48 years$1,061$599$323$167$85$10
49 years$1,028$572$303$155$77$8
50 years$996$547$285$143$70$7

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 $5,859 every year, while hoping to spend $40,663 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: 66/26/8 Blend
50$1,020,000$1,020,000$1,020,000$1,020,000
51$1,130,084$1,076,024$1,060,214$1,202,565
52$1,202,087$1,085,484$1,052,466$1,260,954
53$1,280,072$1,094,044$1,043,095$1,319,347
54$1,364,605$1,101,619$1,032,005$1,382,095
55$1,456,311$1,108,114$1,019,094$1,449,619
56$1,555,876$1,113,432$1,004,254$1,522,381
57$1,664,053$1,117,468$987,374$1,600,893
58$1,781,672$1,120,110$968,337$1,685,719
59$1,909,647$1,121,240$947,021$1,777,479
60$2,048,982$1,120,732$923,297$1,876,860
61$2,200,783$1,118,453$897,032$1,984,619
62$2,366,266$1,114,260$868,086$2,101,591
63$2,546,770$1,108,003$836,311$2,228,695
64$2,743,768$1,099,523$801,555$2,366,947
65$2,958,882$1,088,650$763,658$2,517,469
66$3,193,899$1,075,204$722,451$2,681,496
67$3,450,784$1,058,996$677,760$2,860,392
68$3,731,700$1,039,823$629,401$3,055,660
69$4,039,032$1,017,473$577,184$3,268,961
70$4,375,402$991,718$520,909$3,502,124
71$4,743,701$962,320$460,367$3,757,168
72$5,147,109$929,024$395,340$4,036,320
73$5,589,130$891,563$325,600$4,342,038
74$6,073,624$849,652$250,911$4,677,030
75$6,604,840$802,991$171,022$5,044,286
76$7,187,459$751,263$85,676$5,447,101
77$7,826,635$694,131$0$5,889,112
78$8,528,049$631,240$0$6,374,791
79$9,297,954$562,215$0$6,915,933
80$10,143,242$486,659$0$7,510,120
81$11,071,500$404,154$0$8,162,759
82$12,091,091$314,255$0$8,879,809
83$13,211,225$216,496$0$9,667,842
84$14,442,048$110,382$0$10,534,103
85$15,794,738$0$0$11,486,579
86$17,281,609$0$0$12,535,396
87$18,916,230$0$0$13,723,221
88$20,713,547$0$0$15,029,345
89$22,690,027$0$0$16,465,744
90$24,863,815$0$0$18,045,613
91$27,254,901$0$0$19,783,490
92$29,885,310$0$0$21,695,393
93$32,779,308$0$0$23,798,970
94$35,963,633$0$0$26,113,668
95$39,467,745$0$0$28,660,912
96$43,324,106$0$0$31,464,310
97$47,568,480$0$0$34,549,874
98$52,240,279$0$0$37,946,266
99$57,382,925$0$0$41,685,068
100$63,044,266$0$0$45,801,078