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

Use the below retirement simulation to view the chances of a successful retirement.
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%20%
1 years$85,882$85,117$84,371$83,642$82,931$79,609
2 years$42,516$41,724$40,957$40,213$39,491$36,186
3 years$28,062$27,267$26,502$25,765$25,055$21,871
4 years$20,837$20,044$19,286$18,562$17,869$14,830
5 years$16,503$15,715$14,967$14,257$13,584$10,698
6 years$13,615$12,832$12,096$11,402$10,748$8,017
7 years$11,552$10,777$10,052$9,374$8,741$6,164
8 years$10,006$9,238$8,524$7,864$7,252$4,825
9 years$8,804$8,043$7,342$6,698$6,107$3,828
10 years$7,843$7,089$6,401$5,774$5,204$3,067
11 years$7,058$6,311$5,635$5,025$4,475$2,476
12 years$6,403$5,665$5,001$4,408$3,878$2,011
13 years$5,850$5,119$4,468$3,891$3,382$1,642
14 years$5,376$4,653$4,015$3,454$2,964$1,345
15 years$4,966$4,251$3,625$3,081$2,610$1,105
16 years$4,608$3,900$3,286$2,758$2,307$910
17 years$4,292$3,592$2,991$2,478$2,045$752
18 years$4,011$3,319$2,730$2,233$1,819$621
19 years$3,760$3,076$2,499$2,018$1,621$514
20 years$3,535$2,858$2,294$1,828$1,448$426
21 years$3,331$2,662$2,110$1,659$1,296$354
22 years$3,146$2,485$1,944$1,508$1,161$294
23 years$2,977$2,324$1,795$1,374$1,043$244
24 years$2,823$2,178$1,660$1,253$937$203
25 years$2,681$2,044$1,538$1,144$843$169
26 years$2,551$1,921$1,426$1,046$760$140
27 years$2,430$1,808$1,324$958$685$117
28 years$2,318$1,703$1,231$877$618$97
29 years$2,214$1,607$1,146$805$558$81
30 years$2,117$1,518$1,067$738$504$67
31 years$2,027$1,435$995$678$456$56
32 years$1,942$1,357$928$623$412$47
33 years$1,862$1,286$867$573$373$39
34 years$1,788$1,218$810$527$338$32
35 years$1,718$1,156$757$485$306$27
36 years$1,652$1,097$708$447$277$22
37 years$1,589$1,042$663$412$251$19
38 years$1,530$990$621$380$228$16
39 years$1,475$941$582$350$207$13
40 years$1,422$896$545$323$187$11
41 years$1,372$853$511$298$170$9
42 years$1,324$812$480$275$154$8
43 years$1,279$774$450$254$140$6
44 years$1,236$738$422$234$127$5
45 years$1,195$703$397$216$115$4
46 years$1,155$671$372$200$105$4
47 years$1,118$640$350$185$95$3
48 years$1,082$611$329$171$86$3
49 years$1,048$584$309$158$78$2
50 years$1,015$558$291$146$71$2

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 $5,757 every year, while hoping to spend $29,633 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: 67/23/10 Blend
50$1,040,000$1,040,000$1,040,000$1,040,000
51$1,152,018$1,096,898$1,080,778$1,226,436
52$1,237,995$1,119,117$1,085,455$1,298,868
53$1,331,748$1,141,431$1,089,295$1,373,953
54$1,434,039$1,163,815$1,092,240$1,455,268
55$1,545,708$1,186,238$1,094,226$1,543,420
56$1,667,676$1,208,670$1,095,189$1,639,077
57$1,800,961$1,231,077$1,095,060$1,742,972
58$1,946,681$1,253,422$1,093,767$1,855,917
59$2,106,069$1,275,665$1,091,234$1,978,804
60$2,280,480$1,297,765$1,087,382$2,112,614
61$2,471,408$1,319,674$1,082,129$2,258,433
62$2,680,498$1,341,345$1,075,386$2,417,453
63$2,909,560$1,362,722$1,067,063$2,590,989
64$3,160,590$1,383,751$1,057,065$2,780,490
65$3,435,784$1,404,368$1,045,290$2,987,554
66$3,737,562$1,424,510$1,031,635$3,213,940
67$4,068,588$1,444,105$1,015,989$3,461,588
68$4,431,796$1,463,079$998,238$3,732,634
69$4,830,421$1,481,352$978,260$4,029,434
70$5,268,023$1,498,837$955,931$4,354,583
71$5,748,525$1,515,443$931,118$4,710,943
72$6,276,247$1,531,073$903,683$5,101,666
73$6,855,950$1,545,621$873,483$5,530,226
74$7,492,879$1,558,978$840,366$6,000,453
75$8,192,808$1,571,024$804,174$6,516,568
76$8,962,104$1,581,634$764,743$7,083,223
77$9,807,778$1,590,672$721,901$7,705,544
78$10,737,553$1,597,997$675,467$8,389,182
79$11,759,941$1,603,457$625,253$9,140,364
80$12,884,319$1,606,890$571,062$9,965,955
81$14,121,016$1,608,124$512,689$10,873,519
82$15,481,414$1,606,977$449,919$11,871,394
83$16,978,055$1,603,255$382,528$12,968,770
84$18,624,756$1,596,754$310,282$14,175,776
85$20,436,741$1,587,255$232,936$15,503,573
86$22,430,784$1,574,526$150,235$16,964,466
87$24,625,370$1,558,323$61,913$18,572,015
88$27,040,862$1,538,385$0$20,341,166
89$29,699,701$1,514,437$0$22,291,840
90$32,626,612$1,486,187$0$24,446,016
91$35,848,842$1,453,325$0$26,817,122
92$39,396,409$1,415,524$0$29,427,245
93$43,302,395$1,372,436$0$32,300,725
94$47,603,249$1,323,695$0$35,464,385
95$52,339,136$1,268,912$0$38,947,788
96$57,554,315$1,207,676$0$42,783,512
97$63,297,555$1,139,552$0$47,007,460
98$69,622,595$1,064,080$0$51,659,200
99$76,588,653$980,773$0$56,782,335
100$84,260,982$889,118$0$62,424,922