Can I retire at age 51 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$242,782$240,620$238,510$236,451$234,440$231,895
2 years$120,189$117,951$115,782$113,678$111,638$109,076
3 years$79,330$77,082$74,918$72,835$70,828$68,327
4 years$58,905$56,664$54,521$52,473$50,515$48,096
5 years$46,653$44,425$42,311$40,305$38,401$36,070
6 years$38,487$36,276$34,193$32,232$30,385$28,146
7 years$32,657$30,465$28,415$26,500$24,711$22,564
8 years$28,287$26,114$24,098$22,230$20,500$18,445
9 years$24,889$22,737$20,756$18,935$17,264$15,300
10 years$22,172$20,041$18,095$16,322$14,710$12,836
11 years$19,951$17,842$15,931$14,205$12,651$10,866
12 years$18,102$16,014$14,138$12,460$10,963$9,264
13 years$16,538$14,472$12,632$11,000$9,560$7,946
14 years$15,199$13,154$11,349$9,765$8,380$6,848
15 years$14,039$12,017$10,247$8,708$7,379$5,926
16 years$13,025$11,025$9,290$7,797$6,521$5,146
17 years$12,132$10,154$8,454$7,006$5,782$4,482
18 years$11,338$9,383$7,717$6,314$5,141$3,913
19 years$10,629$8,696$7,065$5,705$4,583$3,424
20 years$9,992$8,080$6,484$5,167$4,093$3,002
21 years$9,416$7,527$5,964$4,689$3,663$2,635
22 years$8,893$7,026$5,497$4,264$3,283$2,317
23 years$8,417$6,571$5,075$3,883$2,947$2,040
24 years$7,981$6,157$4,694$3,542$2,649$1,797
25 years$7,580$5,778$4,347$3,234$2,384$1,585
26 years$7,210$5,430$4,032$2,957$2,147$1,400
27 years$6,869$5,110$3,744$2,707$1,936$1,236
28 years$6,553$4,816$3,480$2,480$1,747$1,093
29 years$6,259$4,543$3,239$2,274$1,577$966
30 years$5,985$4,290$3,017$2,087$1,425$855
31 years$5,729$4,056$2,813$1,917$1,289$757
32 years$5,489$3,838$2,624$1,762$1,166$670
33 years$5,265$3,634$2,450$1,620$1,055$594
34 years$5,054$3,444$2,289$1,491$955$526
35 years$4,856$3,267$2,140$1,372$865$466
36 years$4,669$3,101$2,002$1,264$784$413
37 years$4,493$2,945$1,874$1,164$710$367
38 years$4,327$2,799$1,755$1,073$644$325
39 years$4,169$2,661$1,644$990$584$288
40 years$4,019$2,532$1,541$913$530$256
41 years$3,878$2,410$1,445$842$481$227
42 years$3,743$2,296$1,356$777$436$201
43 years$3,615$2,187$1,272$717$396$179
44 years$3,493$2,085$1,194$662$359$159
45 years$3,377$1,988$1,121$612$326$141
46 years$3,266$1,897$1,053$565$296$125
47 years$3,161$1,810$989$522$269$111
48 years$3,060$1,728$930$482$244$98
49 years$2,963$1,650$874$446$222$87
50 years$2,870$1,576$821$412$201$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,940,000, adding $4,628 every year, while hoping to spend $44,265 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: 50/43/7 Blend
50$2,940,000$2,940,000$2,940,000$2,940,000
51$3,244,654$3,088,834$3,043,264$3,400,894
52$3,528,511$3,193,089$3,098,116$3,612,154
53$3,839,838$3,300,969$3,153,321$3,836,461
54$4,181,390$3,412,605$3,208,846$4,079,143
55$4,556,201$3,528,133$3,264,652$4,341,930
56$4,967,616$3,647,693$3,320,700$4,626,725
57$5,419,315$3,771,432$3,376,946$4,935,620
58$5,915,355$3,899,502$3,433,343$5,270,916
59$6,460,204$4,032,061$3,489,843$5,635,141
60$7,058,784$4,169,271$3,546,392$6,031,079
61$7,716,518$4,311,304$3,602,934$6,461,789
62$8,439,380$4,458,334$3,659,410$6,930,638
63$9,233,950$4,610,547$3,715,754$7,441,332
64$10,107,480$4,768,131$3,771,898$7,997,945
65$11,067,958$4,931,284$3,827,772$8,604,964
66$12,124,184$5,100,211$3,883,296$9,267,325
67$13,285,855$5,275,125$3,938,391$9,990,461
68$14,563,654$5,456,248$3,992,969$10,780,351
69$15,969,352$5,643,809$4,046,938$11,643,580
70$17,515,917$5,838,047$4,100,202$12,587,392
71$19,217,639$6,039,210$4,152,658$13,619,768
72$21,090,263$6,247,556$4,204,196$14,749,489
73$23,151,135$6,463,352$4,254,702$15,986,228
74$25,419,371$6,686,876$4,304,055$17,340,634
75$27,916,032$6,918,418$4,352,126$18,824,431
76$30,664,325$7,158,278$4,398,779$20,450,535
77$33,689,820$7,406,768$4,443,873$22,233,164
78$37,020,695$7,664,213$4,487,255$24,187,980
79$40,687,996$7,930,949$4,528,769$26,332,230
80$44,725,934$8,207,328$4,568,245$28,684,911
81$49,172,207$8,493,715$4,605,508$31,266,946
82$54,068,352$8,790,487$4,640,373$34,101,381
83$59,460,142$9,098,039$4,672,644$37,213,600
84$65,398,015$9,416,782$4,702,116$40,631,564
85$71,937,549$9,747,140$4,728,573$44,386,074
86$79,139,986$10,089,557$4,751,788$48,511,057
87$87,072,814$10,444,494$4,771,521$53,043,891
88$95,810,397$10,812,431$4,787,524$58,025,749
89$105,434,683$11,193,865$4,799,531$63,501,990
90$116,035,971$11,589,316$4,807,266$69,522,584
91$127,713,771$11,999,322$4,810,440$76,142,581
92$140,577,733$12,424,446$4,808,747$83,422,632
93$154,748,689$12,865,272$4,801,868$91,429,557
94$170,359,792$13,322,407$4,789,467$100,236,971
95$187,557,770$13,796,484$4,771,193$109,925,983
96$206,504,311$14,288,161$4,746,677$120,585,953
97$227,377,593$14,798,123$4,715,533$132,315,339
98$250,373,960$15,327,083$4,677,355$145,222,619
99$275,709,777$15,875,783$4,631,720$159,427,315
100$303,623,475$16,444,997$4,578,183$175,061,118