Can I retire at age 51 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$102,398$101,486$100,596$99,727$98,879$95,983
2 years$50,692$49,748$48,833$47,946$47,085$44,191
3 years$33,459$32,511$31,598$30,719$29,873$27,071
4 years$24,844$23,899$22,995$22,132$21,306$18,618
5 years$19,677$18,737$17,845$16,999$16,196$13,630
6 years$16,233$15,300$14,422$13,594$12,815$10,373
7 years$13,774$12,849$11,985$11,177$10,422$8,103
8 years$11,930$11,014$10,164$9,376$8,646$6,449
9 years$10,497$9,590$8,754$7,986$7,282$5,205
10 years$9,352$8,453$7,632$6,884$6,204$4,244
11 years$8,415$7,525$6,719$5,991$5,336$3,490
12 years$7,635$6,754$5,963$5,255$4,624$2,888
13 years$6,975$6,104$5,328$4,640$4,032$2,403
14 years$6,410$5,548$4,787$4,118$3,535$2,007
15 years$5,921$5,068$4,322$3,673$3,112$1,683
16 years$5,494$4,650$3,918$3,289$2,750$1,414
17 years$5,117$4,283$3,566$2,955$2,439$1,192
18 years$4,782$3,957$3,255$2,663$2,168$1,006
19 years$4,483$3,668$2,980$2,406$1,933$851
20 years$4,214$3,408$2,735$2,179$1,726$721
21 years$3,971$3,174$2,515$1,978$1,545$611
22 years$3,751$2,963$2,318$1,798$1,385$518
23 years$3,550$2,771$2,141$1,638$1,243$440
24 years$3,366$2,597$1,980$1,494$1,117$374
25 years$3,197$2,437$1,834$1,364$1,005$318
26 years$3,041$2,290$1,701$1,247$906$271
27 years$2,897$2,155$1,579$1,142$817$231
28 years$2,764$2,031$1,468$1,046$737$196
29 years$2,640$1,916$1,366$959$665$167
30 years$2,524$1,810$1,272$880$601$142
31 years$2,416$1,711$1,186$809$543$121
32 years$2,315$1,619$1,107$743$492$103
33 years$2,221$1,533$1,033$683$445$88
34 years$2,132$1,453$966$629$403$75
35 years$2,048$1,378$903$579$365$64
36 years$1,969$1,308$844$533$331$55
37 years$1,895$1,242$790$491$300$47
38 years$1,825$1,180$740$453$272$40
39 years$1,758$1,123$693$417$246$34
40 years$1,695$1,068$650$385$223$29
41 years$1,635$1,017$609$355$203$25
42 years$1,579$968$572$328$184$21
43 years$1,525$922$536$303$167$18
44 years$1,473$879$504$279$152$15
45 years$1,424$839$473$258$138$13
46 years$1,378$800$444$238$125$11
47 years$1,333$763$417$220$113$10
48 years$1,290$729$392$203$103$8
49 years$1,250$696$369$188$94$7
50 years$1,211$665$346$174$85$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,240,000, adding $3,594 every year, while hoping to spend $26,722 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: 35/43/22 Blend
50$1,240,000$1,240,000$1,240,000$1,240,000
51$1,370,187$1,304,467$1,285,247$1,408,876
52$1,481,514$1,339,954$1,299,871$1,473,208
53$1,603,301$1,376,284$1,314,089$1,539,859
54$1,736,586$1,413,471$1,327,860$1,611,231
55$1,882,514$1,451,526$1,341,139$1,687,762
56$2,042,343$1,490,464$1,353,879$1,769,931
57$2,217,461$1,530,296$1,366,033$1,858,270
58$2,409,395$1,571,033$1,377,548$1,953,359
59$2,619,827$1,612,688$1,388,370$2,055,842
60$2,850,611$1,655,271$1,398,442$2,166,425
61$3,103,787$1,698,793$1,407,704$2,285,886
62$3,381,603$1,743,263$1,416,091$2,415,081
63$3,686,535$1,788,692$1,423,539$2,554,957
64$4,021,310$1,835,086$1,429,976$2,706,551
65$4,388,933$1,882,455$1,435,329$2,871,010
66$4,792,713$1,930,804$1,439,522$3,049,596
67$5,236,296$1,980,139$1,442,472$3,243,700
68$5,723,698$2,030,466$1,444,095$3,454,852
69$6,259,345$2,081,788$1,444,301$3,684,742
70$6,848,110$2,134,108$1,442,997$3,935,229
71$7,495,364$2,187,426$1,440,084$4,208,363
72$8,207,023$2,241,742$1,435,459$4,506,402
73$8,989,606$2,297,054$1,429,014$4,831,836
74$9,850,295$2,353,358$1,420,635$5,187,406
75$10,797,002$2,410,650$1,410,203$5,576,135
76$11,838,445$2,468,921$1,397,594$6,001,354
77$12,984,231$2,528,162$1,382,678$6,466,735
78$14,244,941$2,588,362$1,365,317$6,976,323
79$15,632,239$2,649,505$1,345,368$7,534,576
80$17,158,971$2,711,575$1,322,682$8,146,409
81$18,839,297$2,774,552$1,297,102$8,817,239
82$20,688,813$2,838,413$1,268,464$9,553,033
83$22,724,710$2,903,133$1,236,595$10,360,371
84$24,965,925$2,968,682$1,201,316$11,246,504
85$27,433,329$3,035,026$1,162,439$12,219,423
86$30,149,915$3,102,129$1,119,767$13,287,936
87$33,141,022$3,169,949$1,073,095$14,461,750
88$36,434,570$3,238,441$1,022,208$15,751,566
89$40,061,325$3,307,553$966,880$17,169,176
90$44,055,187$3,377,230$906,878$18,727,576
91$48,453,513$3,447,412$841,955$20,441,092
92$53,297,466$3,518,029$771,856$22,325,512
93$58,632,406$3,589,011$696,311$24,398,238
94$64,508,315$3,660,277$615,041$26,678,449
95$70,980,273$3,731,739$527,754$29,187,282
96$78,108,971$3,803,305$434,145$31,948,037
97$85,961,291$3,874,872$333,894$34,986,389
98$94,610,932$3,946,330$226,668$38,330,640
99$104,139,106$4,017,559$112,120$42,011,980
100$114,635,306$4,088,431$0$46,064,788