Can I retire at age 51 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$92,489$91,665$90,861$90,076$89,310$85,869
2 years$45,786$44,934$44,107$43,306$42,529$39,102
3 years$30,221$29,365$28,540$27,747$26,982$23,679
4 years$22,440$21,586$20,770$19,990$19,244$16,089
5 years$17,772$16,924$16,118$15,354$14,629$11,630
6 years$14,662$13,820$13,026$12,279$11,575$8,735
7 years$12,441$11,606$10,825$10,095$9,414$6,731
8 years$10,776$9,948$9,180$8,469$7,810$5,282
9 years$9,482$8,662$7,907$7,213$6,577$4,200
10 years$8,447$7,635$6,893$6,218$5,604$3,374
11 years$7,601$6,797$6,069$5,411$4,819$2,731
12 years$6,896$6,100$5,386$4,747$4,176$2,224
13 years$6,300$5,513$4,812$4,191$3,642$1,821
14 years$5,790$5,011$4,324$3,720$3,193$1,496
15 years$5,348$4,578$3,904$3,317$2,811$1,233
16 years$4,962$4,200$3,539$2,970$2,484$1,018
17 years$4,622$3,868$3,221$2,669$2,203$843
18 years$4,319$3,574$2,940$2,405$1,959$699
19 years$4,049$3,313$2,691$2,173$1,746$581
20 years$3,807$3,078$2,470$1,968$1,559$483
21 years$3,587$2,867$2,272$1,786$1,395$402
22 years$3,388$2,677$2,094$1,624$1,251$335
23 years$3,206$2,503$1,933$1,479$1,123$279
24 years$3,040$2,345$1,788$1,349$1,009$233
25 years$2,888$2,201$1,656$1,232$908$194
26 years$2,747$2,069$1,536$1,127$818$162
27 years$2,617$1,947$1,426$1,031$737$135
28 years$2,496$1,834$1,326$945$665$113
29 years$2,384$1,731$1,234$866$601$94
30 years$2,280$1,634$1,149$795$543$79
31 years$2,182$1,545$1,071$730$491$66
32 years$2,091$1,462$1,000$671$444$55
33 years$2,006$1,384$933$617$402$46
34 years$1,925$1,312$872$568$364$38
35 years$1,850$1,245$815$523$330$32
36 years$1,779$1,181$763$481$299$27
37 years$1,712$1,122$714$444$271$22
38 years$1,648$1,066$669$409$245$19
39 years$1,588$1,014$626$377$222$16
40 years$1,531$965$587$348$202$13
41 years$1,477$918$551$321$183$11
42 years$1,426$874$516$296$166$9
43 years$1,377$833$485$273$151$8
44 years$1,331$794$455$252$137$6
45 years$1,286$757$427$233$124$5
46 years$1,244$723$401$215$113$4
47 years$1,204$689$377$199$102$4
48 years$1,166$658$354$184$93$3
49 years$1,129$629$333$170$84$3
50 years$1,094$600$313$157$77$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,120,000, adding $2,654 every year, while hoping to spend $51,891 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: 53/39/8 Blend
50$1,120,000$1,120,000$1,120,000$1,120,000
51$1,236,978$1,177,618$1,160,258$1,299,967
52$1,307,938$1,180,109$1,143,915$1,345,475
53$1,384,397$1,180,984$1,125,285$1,389,081
54$1,466,860$1,180,107$1,104,237$1,435,282
55$1,555,885$1,177,337$1,080,634$1,484,334
56$1,652,081$1,172,523$1,054,331$1,536,518
57$1,756,121$1,165,504$1,025,179$1,592,151
58$1,868,741$1,156,110$993,018$1,651,580
59$1,990,754$1,144,160$957,686$1,715,192
60$2,123,052$1,129,465$919,009$1,783,416
61$2,266,615$1,111,820$876,807$1,856,726
62$2,422,522$1,091,012$830,893$1,935,651
63$2,591,960$1,066,813$781,069$2,020,773
64$2,776,235$1,038,981$727,129$2,112,740
65$2,976,782$1,007,263$668,860$2,212,269
66$3,195,182$971,387$606,035$2,320,154
67$3,433,175$931,069$538,421$2,437,275
68$3,692,673$886,006$465,772$2,564,605
69$3,975,783$835,878$387,834$2,703,223
70$4,284,824$780,347$304,337$2,854,323
71$4,622,348$719,056$215,004$3,019,227
72$4,991,165$651,626$119,544$3,199,397
73$5,394,366$577,659$17,651$3,396,451
74$5,835,359$496,731$0$3,612,179
75$6,317,891$408,397$0$3,856,337
76$6,846,093$312,185$0$4,125,454
77$7,424,511$207,599$0$4,420,472
78$8,058,150$94,111$0$4,744,100
79$8,752,526$0$0$5,099,333
80$9,513,710$0$0$5,501,851
81$10,348,390$0$0$5,987,630
82$11,263,933$0$0$6,520,584
83$12,268,451$0$0$7,105,448
84$13,370,881$0$0$7,747,442
85$14,581,067$0$0$8,452,311
86$15,909,852$0$0$9,226,388
87$17,369,181$0$0$10,076,648
88$18,972,212$0$0$11,010,772
89$20,733,441$0$0$12,037,226
90$22,668,836$0$0$13,165,334
91$24,795,989$0$0$14,405,368
92$27,134,283$0$0$15,768,647
93$29,705,069$0$0$17,267,640
94$32,531,873$0$0$18,916,083
95$35,640,613$0$0$20,729,112
96$39,059,844$0$0$22,723,403
97$42,821,030$0$0$24,917,330
98$46,958,834$0$0$27,331,135
99$51,511,452$0$0$29,987,125
100$56,520,965$0$0$32,909,873