Can I retire at age 51 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$241,957$239,801$237,699$235,646$233,642$228,645
2 years$119,781$117,550$115,388$113,292$111,258$106,247
3 years$79,060$76,820$74,664$72,587$70,587$65,719
4 years$58,704$56,471$54,336$52,295$50,343$45,657
5 years$46,494$44,274$42,167$40,167$38,270$33,778
6 years$38,356$36,153$34,077$32,122$30,282$25,988
7 years$32,546$30,361$28,318$26,409$24,627$20,533
8 years$28,190$26,025$24,016$22,154$20,431$16,535
9 years$24,804$22,660$20,685$18,870$17,206$13,505
10 years$22,097$19,973$18,034$16,267$14,660$11,152
11 years$19,884$17,781$15,877$14,157$12,608$9,287
12 years$18,040$15,959$14,090$12,417$10,926$7,787
13 years$16,482$14,423$12,589$10,963$9,528$6,566
14 years$15,147$13,110$11,311$9,731$8,352$5,561
15 years$13,991$11,976$10,212$8,679$7,354$4,727
16 years$12,981$10,988$9,259$7,771$6,499$4,031
17 years$12,091$10,119$8,425$6,982$5,763$3,446
18 years$11,300$9,351$7,691$6,292$5,124$2,953
19 years$10,593$8,666$7,041$5,686$4,567$2,535
20 years$9,958$8,053$6,462$5,149$4,079$2,180
21 years$9,384$7,501$5,944$4,673$3,651$1,876
22 years$8,863$7,002$5,478$4,249$3,272$1,617
23 years$8,388$6,549$5,058$3,870$2,937$1,395
24 years$7,953$6,136$4,678$3,530$2,640$1,205
25 years$7,554$5,758$4,332$3,223$2,376$1,041
26 years$7,186$5,412$4,018$2,947$2,140$900
27 years$6,846$5,093$3,731$2,698$1,929$779
28 years$6,530$4,799$3,469$2,472$1,741$674
29 years$6,237$4,527$3,228$2,267$1,572$584
30 years$5,964$4,276$3,007$2,080$1,420$505
31 years$5,709$4,042$2,803$1,910$1,284$438
32 years$5,471$3,824$2,615$1,756$1,162$380
33 years$5,247$3,622$2,442$1,615$1,051$329
34 years$5,037$3,433$2,282$1,486$952$285
35 years$4,840$3,256$2,133$1,368$862$247
36 years$4,654$3,090$1,995$1,259$781$214
37 years$4,478$2,935$1,868$1,160$708$186
38 years$4,312$2,789$1,749$1,070$642$161
39 years$4,155$2,652$1,639$986$582$140
40 years$4,006$2,524$1,536$910$528$121
41 years$3,865$2,402$1,440$839$479$105
42 years$3,730$2,288$1,351$775$435$91
43 years$3,603$2,180$1,268$715$394$79
44 years$3,481$2,078$1,190$660$358$69
45 years$3,366$1,981$1,117$610$325$60
46 years$3,255$1,890$1,049$563$295$52
47 years$3,150$1,804$986$520$268$45
48 years$3,049$1,722$926$481$243$39
49 years$2,953$1,644$871$444$221$34
50 years$2,861$1,571$819$411$201$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,930,000, adding $4,227 every year, while hoping to spend $29,924 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: 47/38/15 Blend
50$2,930,000$2,930,000$2,930,000$2,930,000
51$3,233,220$3,077,930$3,032,515$3,371,342
52$3,531,170$3,196,910$3,102,266$3,586,494
53$3,858,507$3,320,717$3,173,350$3,816,479
54$4,218,199$3,449,555$3,245,780$4,065,438
55$4,613,511$3,583,640$3,319,571$4,335,151
56$5,048,045$3,723,194$3,394,732$4,627,573
57$5,525,766$3,868,451$3,471,276$4,944,854
58$6,051,044$4,019,655$3,549,213$5,289,354
59$6,628,692$4,177,059$3,628,553$5,663,672
60$7,264,013$4,340,930$3,709,305$6,070,660
61$7,962,852$4,511,545$3,791,476$6,513,459
62$8,731,647$4,689,195$3,875,074$6,995,518
63$9,577,492$4,874,182$3,960,106$7,520,634
64$10,508,201$5,066,822$4,046,575$8,092,982
65$11,532,388$5,267,447$4,134,486$8,717,155
66$12,659,542$5,476,402$4,223,841$9,398,206
67$13,900,116$5,694,047$4,314,641$10,141,694
68$15,265,632$5,920,759$4,406,885$10,953,736
69$16,768,784$6,156,934$4,500,573$11,841,064
70$18,423,558$6,402,981$4,595,700$12,811,085
71$20,245,366$6,659,332$4,692,261$13,871,954
72$22,251,190$6,926,437$4,790,249$15,032,644
73$24,459,744$7,204,764$4,889,654$16,303,033
74$26,891,646$7,494,806$4,990,467$17,693,995
75$29,569,618$7,797,076$5,092,672$19,217,501
76$32,518,697$8,112,111$5,196,254$20,886,731
77$35,766,471$8,440,470$5,301,195$22,716,193
78$39,343,340$8,782,742$5,407,473$24,721,864
79$43,282,803$9,139,539$5,515,066$26,921,337
80$47,621,774$9,511,502$5,623,946$29,333,980
81$52,400,930$9,899,301$5,734,084$31,981,126
82$57,665,095$10,303,636$5,845,446$34,886,264
83$63,463,662$10,725,242$5,957,995$38,075,264
84$69,851,059$11,164,882$6,071,692$41,576,616
85$76,887,265$11,623,360$6,186,491$45,421,697
86$84,638,373$12,101,512$6,302,346$49,645,067
87$93,177,216$12,600,214$6,419,203$54,284,790
88$102,584,050$13,120,383$6,537,005$59,382,790
89$112,947,319$13,662,978$6,655,690$64,985,249
90$124,364,482$14,229,000$6,775,192$71,143,034
91$136,942,936$14,819,498$6,895,438$77,912,177
92$150,801,031$15,435,568$7,016,350$85,354,402
93$166,069,183$16,078,359$7,137,846$93,537,701
94$182,891,111$16,749,069$7,259,834$102,536,976
95$201,425,185$17,448,954$7,382,220$112,434,740
96$221,845,929$18,179,328$7,504,899$123,321,893
97$244,345,663$18,941,565$7,627,763$135,298,576
98$269,136,321$19,737,102$7,750,693$148,475,113
99$296,451,449$20,567,443$7,873,565$162,973,048
100$326,548,412$21,434,162$7,996,244$178,926,288