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%17.9%
1 years$84,231$83,480$82,748$82,034$81,336$78,733
2 years$41,698$40,922$40,169$39,439$38,732$36,132
3 years$27,523$26,743$25,992$25,269$24,573$22,060
4 years$20,436$19,659$18,916$18,205$17,526$15,118
5 years$16,186$15,413$14,679$13,983$13,323$11,027
6 years$13,353$12,586$11,863$11,182$10,542$8,360
7 years$11,330$10,569$9,858$9,194$8,573$6,505
8 years$9,814$9,060$8,361$7,712$7,112$5,156
9 years$8,635$7,888$7,201$6,569$5,990$4,143
10 years$7,692$6,953$6,278$5,663$5,103$3,364
11 years$6,922$6,190$5,527$4,928$4,389$2,753
12 years$6,280$5,556$4,905$4,323$3,804$2,268
13 years$5,738$5,021$4,382$3,816$3,317$1,878
14 years$5,273$4,564$3,938$3,388$2,907$1,561
15 years$4,871$4,169$3,555$3,021$2,560$1,302
16 years$4,519$3,825$3,223$2,705$2,262$1,089
17 years$4,209$3,523$2,933$2,431$2,006$913
18 years$3,934$3,255$2,677$2,190$1,784$767
19 years$3,688$3,017$2,451$1,979$1,590$645
20 years$3,467$2,803$2,249$1,793$1,420$543
21 years$3,267$2,611$2,069$1,627$1,271$458
22 years$3,085$2,438$1,907$1,479$1,139$387
23 years$2,920$2,280$1,761$1,347$1,023$327
24 years$2,769$2,136$1,628$1,229$919$276
25 years$2,630$2,005$1,508$1,122$827$234
26 years$2,502$1,884$1,399$1,026$745$198
27 years$2,383$1,773$1,299$939$672$167
28 years$2,273$1,671$1,208$860$606$142
29 years$2,171$1,576$1,124$789$547$120
30 years$2,076$1,488$1,047$724$494$102
31 years$1,988$1,407$976$665$447$86
32 years$1,905$1,331$910$611$404$73
33 years$1,827$1,261$850$562$366$62
34 years$1,754$1,195$794$517$331$52
35 years$1,685$1,133$743$476$300$44
36 years$1,620$1,076$695$438$272$38
37 years$1,559$1,022$650$404$246$32
38 years$1,501$971$609$372$223$27
39 years$1,446$923$570$343$203$23
40 years$1,395$879$535$317$184$19
41 years$1,345$836$501$292$167$16
42 years$1,299$796$470$270$151$14
43 years$1,254$759$441$249$137$12
44 years$1,212$723$414$230$125$10
45 years$1,172$690$389$212$113$9
46 years$1,133$658$365$196$103$7
47 years$1,097$628$343$181$93$6
48 years$1,061$599$323$167$85$5
49 years$1,028$572$303$155$77$4
50 years$996$547$285$143$70$4

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 $3,653 every year, while hoping to spend $44,422 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: 69/12/19 Blend
50$1,020,000$1,020,000$1,020,000$1,020,000
51$1,127,808$1,073,748$1,057,938$1,200,157
52$1,195,580$1,079,097$1,046,114$1,254,257
53$1,268,775$1,083,219$1,032,406$1,307,864
54$1,347,901$1,086,008$1,016,702$1,365,424
55$1,433,514$1,087,349$998,888$1,427,324
56$1,526,225$1,087,122$978,844$1,493,989
57$1,626,707$1,085,198$956,442$1,565,892
58$1,735,700$1,081,441$931,551$1,643,551
59$1,854,016$1,075,707$904,034$1,727,540
60$1,982,552$1,067,842$873,744$1,818,490
61$2,122,289$1,057,683$840,532$1,917,101
62$2,274,312$1,045,059$804,239$2,024,143
63$2,439,810$1,029,786$764,700$2,140,466
64$2,620,096$1,011,670$721,742$2,267,008
65$2,816,610$990,507$675,185$2,404,806
66$3,030,941$966,078$624,840$2,555,002
67$3,264,835$938,154$570,510$2,718,857
68$3,520,216$906,491$511,990$2,897,762
69$3,799,200$870,831$449,063$3,093,252
70$4,104,117$830,901$381,507$3,307,022
71$4,437,535$786,413$309,085$3,540,940
72$4,802,277$737,061$231,553$3,797,067
73$5,201,455$682,522$148,655$4,077,679
74$5,638,493$622,455$60,124$4,385,284
75$6,117,163$556,499$0$4,722,652
76$6,641,619$484,274$0$5,099,798
77$7,216,436$405,375$0$5,526,589
78$7,846,652$319,377$0$5,994,599
79$8,537,814$225,831$0$6,507,991
80$9,296,036$124,261$0$7,071,351
81$10,128,048$14,166$0$7,689,734
82$11,041,266$0$0$8,368,711
83$12,043,857$0$0$9,128,286
84$13,144,818$0$0$9,964,502
85$14,354,060$0$0$10,883,023
86$15,682,502$0$0$11,892,151
87$17,142,172$0$0$13,001,031
88$18,746,319$0$0$14,219,736
89$20,509,542$0$0$15,559,366
90$22,447,924$0$0$17,032,149
91$24,579,183$0$0$18,651,556
92$26,922,839$0$0$20,432,430
93$29,500,401$0$0$22,391,122
94$32,335,564$0$0$24,545,651
95$35,454,436$0$0$26,915,867
96$38,885,784$0$0$29,523,642
97$42,661,302$0$0$32,393,073
98$46,815,911$0$0$35,550,715
99$51,388,089$0$0$39,025,822
100$56,420,235$0$0$42,850,632