Can I retire at age 51 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$87,534$86,754$85,993$85,251$84,526$83,748
2 years$43,334$42,527$41,744$40,986$40,250$39,466
3 years$28,602$27,792$27,011$26,260$25,537$24,771
4 years$21,238$20,430$19,657$18,919$18,213$17,472
5 years$16,820$16,017$15,255$14,532$13,845$13,130
6 years$13,876$13,079$12,328$11,621$10,955$10,268
7 years$11,774$10,984$10,245$9,554$8,909$8,250
8 years$10,199$9,415$8,688$8,015$7,391$6,759
9 years$8,974$8,198$7,483$6,827$6,225$5,620
10 years$7,994$7,226$6,524$5,885$5,304$4,726
11 years$7,193$6,433$5,744$5,122$4,561$4,011
12 years$6,526$5,774$5,097$4,492$3,953$3,428
13 years$5,963$5,218$4,554$3,966$3,447$2,948
14 years$5,480$4,743$4,092$3,521$3,021$2,547
15 years$5,062$4,333$3,695$3,140$2,660$2,211
16 years$4,696$3,975$3,350$2,811$2,351$1,925
17 years$4,374$3,661$3,048$2,526$2,085$1,681
18 years$4,088$3,383$2,782$2,276$1,854$1,472
19 years$3,832$3,135$2,547$2,057$1,652$1,292
20 years$3,603$2,913$2,338$1,863$1,476$1,136
21 years$3,395$2,714$2,150$1,691$1,321$1,000
22 years$3,206$2,533$1,982$1,537$1,184$882
23 years$3,035$2,369$1,830$1,400$1,063$779
24 years$2,877$2,220$1,692$1,277$955$688
25 years$2,733$2,083$1,567$1,166$859$609
26 years$2,600$1,958$1,454$1,066$774$539
27 years$2,477$1,843$1,350$976$698$478
28 years$2,363$1,736$1,255$894$630$424
29 years$2,256$1,638$1,168$820$569$376
30 years$2,158$1,547$1,088$753$514$334
31 years$2,065$1,462$1,014$691$465$296
32 years$1,979$1,384$946$635$420$263
33 years$1,898$1,310$883$584$380$234
34 years$1,822$1,242$825$537$344$208
35 years$1,751$1,178$772$495$312$185
36 years$1,684$1,118$722$456$283$165
37 years$1,620$1,062$676$420$256$146
38 years$1,560$1,009$633$387$232$130
39 years$1,503$960$593$357$211$116
40 years$1,449$913$556$329$191$103
41 years$1,398$869$521$304$173$92
42 years$1,350$828$489$280$157$82
43 years$1,303$789$459$259$143$73
44 years$1,259$752$430$239$130$65
45 years$1,218$717$404$221$118$58
46 years$1,178$684$380$204$107$52
47 years$1,140$653$357$188$97$46
48 years$1,103$623$335$174$88$41
49 years$1,068$595$315$161$80$36
50 years$1,035$568$296$149$73$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,060,000, adding $4,330 every year, while hoping to spend $30,638 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: 34/49/17 Blend
50$1,060,000$1,060,000$1,060,000$1,060,000
51$1,172,586$1,116,406$1,099,976$1,206,162
52$1,259,592$1,138,512$1,104,227$1,253,256
53$1,354,445$1,160,673$1,107,593$1,300,845
54$1,457,913$1,182,862$1,110,013$1,351,511
55$1,570,843$1,205,045$1,111,421$1,405,543
56$1,694,165$1,227,188$1,111,750$1,463,261
57$1,828,903$1,249,253$1,110,926$1,525,017
58$1,976,185$1,271,201$1,108,877$1,591,199
59$2,137,254$1,292,987$1,105,521$1,662,237
60$2,313,475$1,314,565$1,100,778$1,738,603
61$2,506,355$1,335,884$1,094,559$1,820,822
62$2,717,551$1,356,890$1,086,775$1,909,470
63$2,948,889$1,377,526$1,077,330$2,005,185
64$3,202,379$1,397,728$1,066,124$2,108,671
65$3,480,236$1,417,430$1,053,053$2,220,705
66$3,784,896$1,436,561$1,038,007$2,342,144
67$4,119,047$1,455,044$1,020,872$2,473,936
68$4,485,647$1,472,798$1,001,527$2,617,126
69$4,887,953$1,489,735$979,848$2,772,867
70$5,329,554$1,505,762$955,703$2,942,434
71$5,814,404$1,520,780$928,955$3,127,233
72$6,346,858$1,534,683$899,460$3,328,816
73$6,931,713$1,547,357$867,067$3,548,896
74$7,574,253$1,558,683$831,619$3,789,364
75$8,280,301$1,568,533$792,952$4,052,306
76$9,056,270$1,576,770$750,895$4,340,025
77$9,909,226$1,583,248$705,266$4,655,063
78$10,846,954$1,587,815$655,880$5,000,225
79$11,878,031$1,590,305$602,539$5,378,605
80$13,011,905$1,590,545$545,039$5,793,619
81$14,258,988$1,588,349$483,166$6,249,034
82$15,630,748$1,583,522$416,696$6,749,008
83$17,139,824$1,575,855$345,395$7,298,128
84$18,800,141$1,565,126$269,020$7,901,455
85$20,627,039$1,551,101$187,317$8,564,572
86$22,637,424$1,533,532$100,018$9,293,638
87$24,849,920$1,512,154$6,848$10,095,448
88$27,285,050$1,486,688$0$10,977,496
89$29,965,428$1,456,838$0$11,964,844
90$32,915,969$1,422,290$0$13,052,235
91$36,164,128$1,382,713$0$14,248,541
92$39,740,158$1,337,754$0$15,564,915
93$43,677,392$1,287,042$0$17,013,657
94$48,012,562$1,230,183$0$18,608,324
95$52,786,141$1,166,761$0$20,363,869
96$58,042,729$1,096,334$0$22,296,773
97$63,831,470$1,018,436$0$24,425,211
98$70,206,516$932,576$0$26,769,219
99$77,227,540$838,232$0$29,350,887
100$84,960,298$734,854$0$32,194,568