Can I retire at age 51 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$85,056$84,299$83,560$82,838$82,134$80,018
2 years$42,107$41,323$40,563$39,826$39,111$36,994
3 years$27,793$27,005$26,247$25,517$24,814$22,761
4 years$20,637$19,852$19,101$18,384$17,697$15,725
5 years$16,344$15,564$14,823$14,120$13,453$11,567
6 years$13,484$12,709$11,979$11,292$10,645$8,846
7 years$11,441$10,673$9,955$9,284$8,657$6,946
8 years$9,910$9,149$8,443$7,788$7,182$5,558
9 years$8,720$7,966$7,272$6,634$6,048$4,509
10 years$7,768$7,021$6,339$5,718$5,154$3,698
11 years$6,990$6,251$5,581$4,977$4,432$3,058
12 years$6,342$5,610$4,953$4,365$3,841$2,546
13 years$5,794$5,070$4,425$3,854$3,349$2,131
14 years$5,325$4,609$3,976$3,421$2,936$1,791
15 years$4,918$4,210$3,590$3,051$2,585$1,511
16 years$4,563$3,863$3,255$2,732$2,285$1,279
17 years$4,250$3,557$2,962$2,454$2,026$1,084
18 years$3,972$3,287$2,704$2,212$1,801$922
19 years$3,724$3,046$2,475$1,999$1,605$785
20 years$3,501$2,831$2,272$1,810$1,434$669
21 years$3,299$2,637$2,089$1,643$1,283$571
22 years$3,116$2,461$1,926$1,494$1,150$488
23 years$2,949$2,302$1,778$1,360$1,033$418
24 years$2,796$2,157$1,644$1,241$928$357
25 years$2,655$2,024$1,523$1,133$835$306
26 years$2,526$1,902$1,413$1,036$752$262
27 years$2,407$1,790$1,312$948$678$225
28 years$2,296$1,687$1,219$869$612$193
29 years$2,193$1,592$1,135$797$553$166
30 years$2,097$1,503$1,057$731$499$142
31 years$2,007$1,421$985$672$451$122
32 years$1,923$1,344$919$617$408$105
33 years$1,845$1,273$858$568$370$90
34 years$1,771$1,207$802$522$335$77
35 years$1,701$1,145$750$481$303$66
36 years$1,636$1,086$701$443$275$57
37 years$1,574$1,032$657$408$249$49
38 years$1,516$981$615$376$226$42
39 years$1,461$932$576$347$205$36
40 years$1,408$887$540$320$186$31
41 years$1,359$844$506$295$168$27
42 years$1,311$804$475$272$153$23
43 years$1,266$766$446$251$139$20
44 years$1,224$730$418$232$126$17
45 years$1,183$697$393$214$114$15
46 years$1,144$664$369$198$104$13
47 years$1,107$634$347$183$94$11
48 years$1,072$605$326$169$86$9
49 years$1,038$578$306$156$78$8
50 years$1,006$552$288$144$71$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,030,000, adding $6,200 every year, while hoping to spend $25,277 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: 56/36/8 Blend
50$1,030,000$1,030,000$1,030,000$1,030,000
51$1,141,455$1,086,865$1,070,900$1,202,905
52$1,230,989$1,113,227$1,079,881$1,271,434
53$1,328,808$1,140,034$1,088,315$1,342,687
54$1,435,731$1,167,280$1,096,158$1,419,676
55$1,552,659$1,194,959$1,103,363$1,502,953
56$1,680,583$1,223,066$1,109,878$1,593,123
57$1,820,597$1,251,590$1,115,654$1,690,852
58$1,973,903$1,280,523$1,120,633$1,796,874
59$2,141,825$1,309,853$1,124,758$1,911,999
60$2,325,823$1,339,568$1,127,970$2,037,116
61$2,527,504$1,369,653$1,130,203$2,173,207
62$2,748,635$1,400,092$1,131,391$2,321,352
63$2,991,167$1,430,867$1,131,463$2,482,740
64$3,257,245$1,461,959$1,130,347$2,658,684
65$3,549,234$1,493,345$1,127,963$2,850,627
66$3,869,738$1,525,001$1,124,233$3,060,161
67$4,221,626$1,556,901$1,119,069$3,289,039
68$4,608,058$1,589,014$1,112,383$3,539,193
69$5,032,514$1,621,310$1,104,082$3,812,750
70$5,498,829$1,653,753$1,094,067$4,112,058
71$6,011,227$1,686,305$1,082,237$4,439,699
72$6,574,363$1,718,925$1,068,483$4,798,521
73$7,193,364$1,751,568$1,052,693$5,191,662
74$7,873,878$1,784,186$1,034,748$5,622,581
75$8,622,128$1,816,725$1,014,527$6,095,087
76$9,444,971$1,849,131$991,900$6,613,381
77$10,349,961$1,881,340$966,731$7,182,089
78$11,345,419$1,913,289$938,879$7,806,311
79$12,440,518$1,944,906$908,197$8,491,668
80$13,645,359$1,976,114$874,530$9,244,353
81$14,971,075$2,006,833$837,716$10,071,192
82$16,429,931$2,036,975$797,586$10,979,707
83$18,035,443$2,066,445$753,964$11,978,190
84$19,802,501$2,095,144$706,665$13,075,775
85$21,747,513$2,122,963$655,495$14,282,534
86$23,888,560$2,149,789$600,254$15,609,561
87$26,245,561$2,175,496$540,731$17,069,089
88$28,840,468$2,199,955$476,705$18,674,595
89$31,697,468$2,223,025$407,947$20,440,935
90$34,843,213$2,244,557$334,217$22,384,479
91$38,307,071$2,264,391$255,263$24,523,270
92$42,121,403$2,282,356$170,825$26,877,194
93$46,321,867$2,298,273$80,629$29,468,165
94$50,947,757$2,311,949$0$32,320,336
95$56,042,372$2,323,178$0$35,461,659
96$61,653,423$2,331,742$0$38,927,568
97$67,833,485$2,337,410$0$42,743,530
98$74,640,492$2,339,935$0$46,945,207
99$82,138,286$2,339,056$0$51,571,895
100$90,397,216$2,334,494$0$56,666,904