Can I retire at age 51 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$85,882$85,117$84,371$83,642$82,931$82,133
2 years$42,516$41,724$40,957$40,213$39,491$38,687
3 years$28,062$27,267$26,502$25,765$25,055$24,270
4 years$20,837$20,044$19,286$18,562$17,869$17,110
5 years$16,503$15,715$14,967$14,257$13,584$12,852
6 years$13,615$12,832$12,096$11,402$10,748$10,045
7 years$11,552$10,777$10,052$9,374$8,741$8,066
8 years$10,006$9,238$8,524$7,864$7,252$6,605
9 years$8,804$8,043$7,342$6,698$6,107$5,488
10 years$7,843$7,089$6,401$5,774$5,204$4,613
11 years$7,058$6,311$5,635$5,025$4,475$3,912
12 years$6,403$5,665$5,001$4,408$3,878$3,342
13 years$5,850$5,119$4,468$3,891$3,382$2,872
14 years$5,376$4,653$4,015$3,454$2,964$2,480
15 years$4,966$4,251$3,625$3,081$2,610$2,151
16 years$4,608$3,900$3,286$2,758$2,307$1,871
17 years$4,292$3,592$2,991$2,478$2,045$1,633
18 years$4,011$3,319$2,730$2,233$1,819$1,429
19 years$3,760$3,076$2,499$2,018$1,621$1,253
20 years$3,535$2,858$2,294$1,828$1,448$1,101
21 years$3,331$2,662$2,110$1,659$1,296$969
22 years$3,146$2,485$1,944$1,508$1,161$854
23 years$2,977$2,324$1,795$1,374$1,043$753
24 years$2,823$2,178$1,660$1,253$937$665
25 years$2,681$2,044$1,538$1,144$843$588
26 years$2,551$1,921$1,426$1,046$760$520
27 years$2,430$1,808$1,324$958$685$461
28 years$2,318$1,703$1,231$877$618$408
29 years$2,214$1,607$1,146$805$558$362
30 years$2,117$1,518$1,067$738$504$321
31 years$2,027$1,435$995$678$456$285
32 years$1,942$1,357$928$623$412$253
33 years$1,862$1,286$867$573$373$225
34 years$1,788$1,218$810$527$338$200
35 years$1,718$1,156$757$485$306$177
36 years$1,652$1,097$708$447$277$158
37 years$1,589$1,042$663$412$251$140
38 years$1,530$990$621$380$228$125
39 years$1,475$941$582$350$207$111
40 years$1,422$896$545$323$187$99
41 years$1,372$853$511$298$170$88
42 years$1,324$812$480$275$154$78
43 years$1,279$774$450$254$140$69
44 years$1,236$738$422$234$127$62
45 years$1,195$703$397$216$115$55
46 years$1,155$671$372$200$105$49
47 years$1,118$640$350$185$95$43
48 years$1,082$611$329$171$86$39
49 years$1,048$584$309$158$78$34
50 years$1,015$558$291$146$71$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,040,000, adding $6,485 every year, while hoping to spend $22,739 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: 88/7/5 Blend
50$1,040,000$1,040,000$1,040,000$1,040,000
51$1,152,769$1,097,649$1,081,529$1,253,763
52$1,246,158$1,127,240$1,093,566$1,350,052
53$1,348,309$1,157,518$1,105,245$1,452,014
54$1,460,095$1,188,495$1,116,528$1,563,351
55$1,582,471$1,220,178$1,127,378$1,684,991
56$1,716,493$1,252,577$1,137,756$1,817,955
57$1,863,323$1,285,700$1,147,618$1,963,369
58$2,024,240$1,319,557$1,156,921$2,122,471
59$2,200,652$1,354,155$1,165,618$2,296,625
60$2,394,111$1,389,502$1,173,659$2,487,335
61$2,606,327$1,425,603$1,180,992$2,696,255
62$2,839,180$1,462,466$1,187,564$2,925,210
63$3,094,746$1,500,096$1,193,316$3,176,206
64$3,375,307$1,538,498$1,198,190$3,451,457
65$3,683,380$1,577,676$1,202,121$3,753,398
66$4,021,736$1,617,633$1,205,043$4,084,715
67$4,393,428$1,658,372$1,206,886$4,448,365
68$4,801,818$1,699,893$1,207,578$4,847,606
69$5,250,613$1,742,197$1,207,041$5,286,026
70$5,743,894$1,785,283$1,205,195$5,767,581
71$6,286,157$1,829,148$1,201,955$6,296,626
72$6,882,357$1,873,788$1,197,232$6,877,961
73$7,537,952$1,919,199$1,190,935$7,516,875
74$8,258,957$1,965,373$1,182,965$8,219,194
75$9,051,996$2,012,302$1,173,219$8,991,337
76$9,924,370$2,059,975$1,161,593$9,840,378
77$10,884,122$2,108,379$1,147,972$10,774,109
78$11,940,113$2,157,501$1,132,240$11,801,119
79$13,102,109$2,207,323$1,114,274$12,930,868
80$14,380,868$2,257,825$1,093,946$14,173,782
81$15,788,243$2,308,986$1,071,121$15,541,348
82$17,337,298$2,360,780$1,045,657$17,046,224
83$19,042,424$2,413,180$1,017,408$18,702,359
84$20,919,480$2,466,154$986,219$20,525,119
85$22,985,939$2,519,668$951,930$22,531,441
86$25,261,056$2,573,683$914,371$24,739,986
87$27,766,047$2,628,157$873,366$27,171,315
88$30,524,291$2,683,044$828,731$29,848,087
89$33,561,549$2,738,293$780,273$32,795,272
90$36,906,205$2,793,848$727,791$36,040,381
91$40,589,540$2,849,648$671,074$39,613,733
92$44,646,021$2,905,629$609,902$43,548,738
93$49,113,627$2,961,717$544,047$47,882,209
94$54,034,212$3,017,835$473,267$52,654,716
95$59,453,892$3,073,900$397,312$57,910,963
96$65,423,488$3,129,820$315,920$63,700,213
97$71,998,999$3,185,496$228,819$70,076,751
98$79,242,135$3,240,824$135,723$77,100,399
99$87,220,898$3,295,689$36,334$84,837,078
100$96,010,220$3,349,968$0$93,359,430