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%19.9%
1 years$102,398$101,486$100,596$99,727$98,879$94,956
2 years$50,692$49,748$48,833$47,946$47,085$43,182
3 years$33,459$32,511$31,598$30,719$29,873$26,111
4 years$24,844$23,899$22,995$22,132$21,306$17,715
5 years$19,677$18,737$17,845$16,999$16,196$12,785
6 years$16,233$15,300$14,422$13,594$12,815$9,587
7 years$13,774$12,849$11,985$11,177$10,422$7,375
8 years$11,930$11,014$10,164$9,376$8,646$5,776
9 years$10,497$9,590$8,754$7,986$7,282$4,585
10 years$9,352$8,453$7,632$6,884$6,204$3,676
11 years$8,415$7,525$6,719$5,991$5,336$2,970
12 years$7,635$6,754$5,963$5,255$4,624$2,414
13 years$6,975$6,104$5,328$4,640$4,032$1,972
14 years$6,410$5,548$4,787$4,118$3,535$1,616
15 years$5,921$5,068$4,322$3,673$3,112$1,329
16 years$5,494$4,650$3,918$3,289$2,750$1,096
17 years$5,117$4,283$3,566$2,955$2,439$905
18 years$4,782$3,957$3,255$2,663$2,168$749
19 years$4,483$3,668$2,980$2,406$1,933$621
20 years$4,214$3,408$2,735$2,179$1,726$515
21 years$3,971$3,174$2,515$1,978$1,545$427
22 years$3,751$2,963$2,318$1,798$1,385$355
23 years$3,550$2,771$2,141$1,638$1,243$295
24 years$3,366$2,597$1,980$1,494$1,117$246
25 years$3,197$2,437$1,834$1,364$1,005$204
26 years$3,041$2,290$1,701$1,247$906$170
27 years$2,897$2,155$1,579$1,142$817$142
28 years$2,764$2,031$1,468$1,046$737$118
29 years$2,640$1,916$1,366$959$665$98
30 years$2,524$1,810$1,272$880$601$82
31 years$2,416$1,711$1,186$809$543$68
32 years$2,315$1,619$1,107$743$492$57
33 years$2,221$1,533$1,033$683$445$47
34 years$2,132$1,453$966$629$403$40
35 years$2,048$1,378$903$579$365$33
36 years$1,969$1,308$844$533$331$28
37 years$1,895$1,242$790$491$300$23
38 years$1,825$1,180$740$453$272$19
39 years$1,758$1,123$693$417$246$16
40 years$1,695$1,068$650$385$223$13
41 years$1,635$1,017$609$355$203$11
42 years$1,579$968$572$328$184$9
43 years$1,525$922$536$303$167$8
44 years$1,473$879$504$279$152$6
45 years$1,424$839$473$258$138$5
46 years$1,378$800$444$238$125$4
47 years$1,333$763$417$220$113$4
48 years$1,290$729$392$203$103$3
49 years$1,250$696$369$188$94$3
50 years$1,211$665$346$174$85$2

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 $2,176 every year, while hoping to spend $31,233 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: 34/47/19 Blend
50$1,240,000$1,240,000$1,240,000$1,240,000
51$1,368,725$1,303,005$1,283,785$1,407,201
52$1,475,103$1,333,620$1,293,560$1,466,345
53$1,591,285$1,364,689$1,302,615$1,527,040
54$1,718,238$1,396,201$1,310,895$1,591,837
55$1,857,026$1,428,142$1,318,338$1,661,120
56$2,008,822$1,460,500$1,324,881$1,735,307
57$2,174,915$1,493,259$1,330,459$1,814,861
58$2,356,728$1,526,400$1,335,001$1,900,292
59$2,555,826$1,559,905$1,338,434$1,992,164
60$2,773,930$1,593,750$1,340,682$2,091,095
61$3,012,939$1,627,913$1,341,663$2,197,768
62$3,274,944$1,662,365$1,341,294$2,312,938
63$3,562,245$1,697,078$1,339,484$2,437,435
64$3,877,379$1,732,020$1,336,142$2,572,175
65$4,223,138$1,767,155$1,331,169$2,718,168
66$4,602,598$1,802,445$1,324,463$2,876,526
67$5,019,146$1,837,849$1,315,916$3,048,479
68$5,476,516$1,873,320$1,305,415$3,235,379
69$5,978,818$1,908,810$1,292,844$3,438,721
70$6,530,581$1,944,265$1,278,078$3,660,150
71$7,136,795$1,979,629$1,260,988$3,901,483
72$7,802,955$2,014,838$1,241,439$4,164,721
73$8,535,117$2,049,826$1,219,288$4,452,073
74$9,339,953$2,084,520$1,194,387$4,765,973
75$10,224,810$2,118,844$1,166,581$5,109,106
76$11,197,786$2,152,713$1,135,707$5,484,434
77$12,267,803$2,186,038$1,101,596$5,895,221
78$13,444,688$2,218,723$1,064,068$6,345,068
79$14,739,271$2,250,666$1,022,939$6,837,944
80$16,163,483$2,281,754$978,014$7,378,229
81$17,730,470$2,311,872$929,089$7,970,749
82$19,454,716$2,340,892$875,952$8,620,829
83$21,352,181$2,368,680$818,381$9,334,336
84$23,440,450$2,395,092$756,143$10,117,745
85$25,738,898$2,419,974$688,996$10,978,190
86$28,268,875$2,443,162$616,687$11,923,542
87$31,053,905$2,464,481$538,951$12,962,476
88$34,119,908$2,483,746$455,510$14,104,558
89$37,495,447$2,500,757$366,078$15,360,336
90$41,211,993$2,515,305$270,352$16,741,437
91$45,304,224$2,527,163$168,017$18,260,684
92$49,810,355$2,536,094$58,745$19,932,212
93$54,772,491$2,541,843$0$21,771,605
94$60,237,032$2,544,140$0$23,807,776
95$66,255,106$2,542,699$0$26,061,407
96$72,883,050$2,537,214$0$28,541,536
97$80,182,947$2,527,364$0$31,271,263
98$88,223,208$2,512,805$0$34,276,051
99$97,079,215$2,493,172$0$37,583,963
100$106,834,038$2,468,081$0$41,225,935