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

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$242,782$240,620$238,510$236,451$234,440$231,991
2 years$120,189$117,951$115,782$113,678$111,638$109,172
3 years$79,330$77,082$74,918$72,835$70,828$68,421
4 years$58,905$56,664$54,521$52,473$50,515$48,186
5 years$46,653$44,425$42,311$40,305$38,401$36,157
6 years$38,487$36,276$34,193$32,232$30,385$28,229
7 years$32,657$30,465$28,415$26,500$24,711$22,643
8 years$28,287$26,114$24,098$22,230$20,500$18,520
9 years$24,889$22,737$20,756$18,935$17,264$15,372
10 years$22,172$20,041$18,095$16,322$14,710$12,904
11 years$19,951$17,842$15,931$14,205$12,651$10,930
12 years$18,102$16,014$14,138$12,460$10,963$9,325
13 years$16,538$14,472$12,632$11,000$9,560$8,003
14 years$15,199$13,154$11,349$9,765$8,380$6,902
15 years$14,039$12,017$10,247$8,708$7,379$5,977
16 years$13,025$11,025$9,290$7,797$6,521$5,194
17 years$12,132$10,154$8,454$7,006$5,782$4,527
18 years$11,338$9,383$7,717$6,314$5,141$3,955
19 years$10,629$8,696$7,065$5,705$4,583$3,463
20 years$9,992$8,080$6,484$5,167$4,093$3,038
21 years$9,416$7,527$5,964$4,689$3,663$2,669
22 years$8,893$7,026$5,497$4,264$3,283$2,349
23 years$8,417$6,571$5,075$3,883$2,947$2,069
24 years$7,981$6,157$4,694$3,542$2,649$1,825
25 years$7,580$5,778$4,347$3,234$2,384$1,611
26 years$7,210$5,430$4,032$2,957$2,147$1,423
27 years$6,869$5,110$3,744$2,707$1,936$1,258
28 years$6,553$4,816$3,480$2,480$1,747$1,113
29 years$6,259$4,543$3,239$2,274$1,577$985
30 years$5,985$4,290$3,017$2,087$1,425$872
31 years$5,729$4,056$2,813$1,917$1,289$773
32 years$5,489$3,838$2,624$1,762$1,166$685
33 years$5,265$3,634$2,450$1,620$1,055$607
34 years$5,054$3,444$2,289$1,491$955$539
35 years$4,856$3,267$2,140$1,372$865$478
36 years$4,669$3,101$2,002$1,264$784$424
37 years$4,493$2,945$1,874$1,164$710$376
38 years$4,327$2,799$1,755$1,073$644$334
39 years$4,169$2,661$1,644$990$584$296
40 years$4,019$2,532$1,541$913$530$263
41 years$3,878$2,410$1,445$842$481$234
42 years$3,743$2,296$1,356$777$436$208
43 years$3,615$2,187$1,272$717$396$184
44 years$3,493$2,085$1,194$662$359$164
45 years$3,377$1,988$1,121$612$326$145
46 years$3,266$1,897$1,053$565$296$129
47 years$3,161$1,810$989$522$269$115
48 years$3,060$1,728$930$482$244$102
49 years$2,963$1,650$874$446$222$91
50 years$2,870$1,576$821$412$201$81

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 $2,609 every year, while hoping to spend $21,166 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: 70/17/13 Blend
50$2,940,000$2,940,000$2,940,000$2,940,000
51$3,242,571$3,086,751$3,041,181$3,460,151
52$3,550,793$3,215,482$3,120,540$3,733,652
53$3,889,744$3,349,810$3,201,849$4,030,058
54$4,262,536$3,489,989$3,285,149$4,353,881
55$4,672,599$3,636,282$3,370,485$4,707,821
56$5,123,709$3,788,965$3,457,901$5,094,845
57$5,620,029$3,948,327$3,547,443$5,518,223
58$6,166,146$4,114,668$3,639,156$5,981,553
59$6,767,111$4,288,306$3,733,087$6,488,795
60$7,428,494$4,469,571$3,829,283$7,044,309
61$8,156,429$4,658,808$3,927,792$7,652,897
62$8,957,676$4,856,381$4,028,664$8,319,843
63$9,839,682$5,062,667$4,131,948$9,050,968
64$10,810,655$5,278,063$4,237,693$9,852,679
65$11,879,639$5,502,984$4,345,952$10,732,035
66$13,056,596$5,737,865$4,456,777$11,696,805
67$14,352,509$5,983,160$4,570,218$12,755,549
68$15,779,475$6,239,345$4,686,330$13,917,691
69$17,350,826$6,506,917$4,805,167$15,193,612
70$19,081,253$6,786,399$4,926,783$16,594,744
71$20,986,944$7,078,336$5,051,234$18,133,680
72$23,085,737$7,383,299$5,178,574$19,824,289
73$25,397,287$7,701,886$5,308,862$21,681,848
74$27,943,255$8,034,723$5,442,153$23,723,186
75$30,747,508$8,382,465$5,578,506$25,966,837
76$33,836,347$8,745,799$5,717,980$28,433,222
77$37,238,754$9,125,444$5,860,632$31,144,833
78$40,986,667$9,522,150$6,006,523$34,126,448
79$45,115,278$9,936,706$6,155,712$37,405,364
80$49,663,368$10,369,937$6,308,261$41,011,652
81$54,673,673$10,822,705$6,464,229$44,978,441
82$60,193,286$11,295,915$6,623,678$49,342,227
83$66,274,100$11,790,514$6,786,670$54,143,219
84$72,973,301$12,307,493$6,953,267$59,425,715
85$80,353,908$12,847,890$7,123,531$65,238,520
86$88,485,362$13,412,792$7,297,525$71,635,406
87$97,444,188$14,003,338$7,475,312$78,675,614
88$107,314,714$14,620,720$7,656,953$86,424,417
89$118,189,867$15,266,188$7,842,513$94,953,729
90$130,172,051$15,941,048$8,032,055$104,342,788
91$143,374,113$16,646,672$8,225,641$114,678,895
92$157,920,406$17,384,493$8,423,334$126,058,242
93$173,947,969$18,156,014$8,625,197$138,586,817
94$191,607,813$18,962,811$8,831,293$152,381,400
95$211,066,352$19,806,530$9,041,683$167,570,664
96$232,506,970$20,688,900$9,256,429$184,296,388
97$256,131,754$21,611,729$9,475,592$202,714,793
98$282,163,401$22,576,912$9,699,234$222,998,016
99$310,847,323$23,586,435$9,927,412$245,335,726
100$342,453,957$24,642,378$10,160,188$269,936,921