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

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$92,489$91,665$90,861$90,076$89,310$87,222
2 years$45,786$44,934$44,107$43,306$42,529$40,437
3 years$30,221$29,365$28,540$27,747$26,982$24,952
4 years$22,440$21,586$20,770$19,990$19,244$17,291
5 years$17,772$16,924$16,118$15,354$14,629$12,758
6 years$14,662$13,820$13,026$12,279$11,575$9,789
7 years$12,441$11,606$10,825$10,095$9,414$7,713
8 years$10,776$9,948$9,180$8,469$7,810$6,193
9 years$9,482$8,662$7,907$7,213$6,577$5,043
10 years$8,447$7,635$6,893$6,218$5,604$4,151
11 years$7,601$6,797$6,069$5,411$4,819$3,446
12 years$6,896$6,100$5,386$4,747$4,176$2,880
13 years$6,300$5,513$4,812$4,191$3,642$2,420
14 years$5,790$5,011$4,324$3,720$3,193$2,043
15 years$5,348$4,578$3,904$3,317$2,811$1,731
16 years$4,962$4,200$3,539$2,970$2,484$1,471
17 years$4,622$3,868$3,221$2,669$2,203$1,253
18 years$4,319$3,574$2,940$2,405$1,959$1,070
19 years$4,049$3,313$2,691$2,173$1,746$915
20 years$3,807$3,078$2,470$1,968$1,559$783
21 years$3,587$2,867$2,272$1,786$1,395$672
22 years$3,388$2,677$2,094$1,624$1,251$577
23 years$3,206$2,503$1,933$1,479$1,123$496
24 years$3,040$2,345$1,788$1,349$1,009$426
25 years$2,888$2,201$1,656$1,232$908$367
26 years$2,747$2,069$1,536$1,127$818$316
27 years$2,617$1,947$1,426$1,031$737$272
28 years$2,496$1,834$1,326$945$665$235
29 years$2,384$1,731$1,234$866$601$202
30 years$2,280$1,634$1,149$795$543$175
31 years$2,182$1,545$1,071$730$491$151
32 years$2,091$1,462$1,000$671$444$130
33 years$2,006$1,384$933$617$402$112
34 years$1,925$1,312$872$568$364$97
35 years$1,850$1,245$815$523$330$84
36 years$1,779$1,181$763$481$299$72
37 years$1,712$1,122$714$444$271$62
38 years$1,648$1,066$669$409$245$54
39 years$1,588$1,014$626$377$222$47
40 years$1,531$965$587$348$202$40
41 years$1,477$918$551$321$183$35
42 years$1,426$874$516$296$166$30
43 years$1,377$833$485$273$151$26
44 years$1,331$794$455$252$137$22
45 years$1,286$757$427$233$124$19
46 years$1,244$723$401$215$113$17
47 years$1,204$689$377$199$102$14
48 years$1,166$658$354$184$93$13
49 years$1,129$629$333$170$84$11
50 years$1,094$600$313$157$77$9

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 $4,379 every year, while hoping to spend $26,310 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: 59/23/18 Blend
50$1,120,000$1,120,000$1,120,000$1,120,000
51$1,238,757$1,179,397$1,162,037$1,305,792
52$1,337,117$1,209,194$1,172,972$1,381,485
53$1,444,627$1,239,569$1,183,391$1,460,722
54$1,562,194$1,270,523$1,193,249$1,546,534
55$1,690,814$1,302,055$1,202,500$1,639,562
56$1,831,586$1,334,165$1,211,093$1,740,510
57$1,985,719$1,366,849$1,218,975$1,850,153
58$2,154,543$1,400,106$1,226,092$1,969,347
59$2,339,526$1,433,930$1,232,384$2,099,032
60$2,542,280$1,468,316$1,237,793$2,240,247
61$2,764,586$1,503,257$1,242,252$2,394,133
62$3,008,401$1,538,744$1,245,695$2,561,949
63$3,275,883$1,574,767$1,248,050$2,745,083
64$3,569,408$1,611,315$1,249,245$2,945,064
65$3,891,593$1,648,375$1,249,200$3,163,574
66$4,245,321$1,685,931$1,247,833$3,402,470
67$4,633,768$1,723,966$1,245,060$3,663,797
68$5,060,433$1,762,460$1,240,790$3,949,808
69$5,529,169$1,801,393$1,234,928$4,262,985
70$6,044,222$1,840,739$1,227,376$4,606,066
71$6,610,269$1,880,472$1,218,030$4,982,066
72$7,232,464$1,920,562$1,206,781$5,394,308
73$7,916,483$1,960,977$1,193,516$5,846,454
74$8,668,580$2,001,682$1,178,115$6,342,539
75$9,495,647$2,042,636$1,160,454$6,887,012
76$10,405,275$2,083,797$1,140,401$7,484,774
77$11,405,829$2,125,119$1,117,820$8,141,227
78$12,506,525$2,166,551$1,092,568$8,862,324
79$13,717,517$2,208,038$1,064,496$9,654,627
80$15,049,992$2,249,521$1,033,445$10,525,366
81$16,516,279$2,290,935$999,253$11,482,511
82$18,129,959$2,332,211$961,748$12,534,843
83$19,905,999$2,373,273$920,751$13,692,042
84$21,860,889$2,414,041$876,074$14,964,776
85$24,012,799$2,454,428$827,521$16,364,801
86$26,381,749$2,494,340$774,888$17,905,073
87$28,989,801$2,533,676$717,960$19,599,873
88$31,861,264$2,572,329$656,515$21,464,938
89$35,022,922$2,610,183$590,318$23,517,612
90$38,504,292$2,647,114$519,125$25,777,011
91$42,337,896$2,682,988$442,682$28,264,200
92$46,559,572$2,717,665$360,722$31,002,398
93$51,208,810$2,750,992$272,968$34,017,191
94$56,329,125$2,782,808$179,129$37,336,781
95$61,968,468$2,812,938$78,902$40,992,245
96$68,179,678$2,841,198$0$45,017,835
97$75,020,981$2,867,392$0$49,456,688
98$82,556,535$2,891,309$0$54,361,539
99$90,857,044$2,912,725$0$59,763,132
100$100,000,417$2,931,403$0$65,712,065