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%12.3%
1 years$242,782$240,620$238,510$236,451$234,440$232,185
2 years$120,189$117,951$115,782$113,678$111,638$109,366
3 years$79,330$77,082$74,918$72,835$70,828$68,610
4 years$58,905$56,664$54,521$52,473$50,515$48,368
5 years$46,653$44,425$42,311$40,305$38,401$36,331
6 years$38,487$36,276$34,193$32,232$30,385$28,395
7 years$32,657$30,465$28,415$26,500$24,711$22,802
8 years$28,287$26,114$24,098$22,230$20,500$18,672
9 years$24,889$22,737$20,756$18,935$17,264$15,516
10 years$22,172$20,041$18,095$16,322$14,710$13,040
11 years$19,951$17,842$15,931$14,205$12,651$11,059
12 years$18,102$16,014$14,138$12,460$10,963$9,447
13 years$16,538$14,472$12,632$11,000$9,560$8,118
14 years$15,199$13,154$11,349$9,765$8,380$7,011
15 years$14,039$12,017$10,247$8,708$7,379$6,079
16 years$13,025$11,025$9,290$7,797$6,521$5,290
17 years$12,132$10,154$8,454$7,006$5,782$4,617
18 years$11,338$9,383$7,717$6,314$5,141$4,040
19 years$10,629$8,696$7,065$5,705$4,583$3,542
20 years$9,992$8,080$6,484$5,167$4,093$3,112
21 years$9,416$7,527$5,964$4,689$3,663$2,739
22 years$8,893$7,026$5,497$4,264$3,283$2,413
23 years$8,417$6,571$5,075$3,883$2,947$2,129
24 years$7,981$6,157$4,694$3,542$2,649$1,881
25 years$7,580$5,778$4,347$3,234$2,384$1,663
26 years$7,210$5,430$4,032$2,957$2,147$1,471
27 years$6,869$5,110$3,744$2,707$1,936$1,303
28 years$6,553$4,816$3,480$2,480$1,747$1,154
29 years$6,259$4,543$3,239$2,274$1,577$1,023
30 years$5,985$4,290$3,017$2,087$1,425$908
31 years$5,729$4,056$2,813$1,917$1,289$805
32 years$5,489$3,838$2,624$1,762$1,166$715
33 years$5,265$3,634$2,450$1,620$1,055$635
34 years$5,054$3,444$2,289$1,491$955$564
35 years$4,856$3,267$2,140$1,372$865$501
36 years$4,669$3,101$2,002$1,264$784$445
37 years$4,493$2,945$1,874$1,164$710$396
38 years$4,327$2,799$1,755$1,073$644$352
39 years$4,169$2,661$1,644$990$584$313
40 years$4,019$2,532$1,541$913$530$278
41 years$3,878$2,410$1,445$842$481$248
42 years$3,743$2,296$1,356$777$436$220
43 years$3,615$2,187$1,272$717$396$196
44 years$3,493$2,085$1,194$662$359$174
45 years$3,377$1,988$1,121$612$326$155
46 years$3,266$1,897$1,053$565$296$138
47 years$3,161$1,810$989$522$269$123
48 years$3,060$1,728$930$482$244$109
49 years$2,963$1,650$874$446$222$97
50 years$2,870$1,576$821$412$201$87

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 $6,198 every year, while hoping to spend $32,884 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: 70/9/21 Blend
50$2,940,000$2,940,000$2,940,000$2,940,000
51$3,246,273$3,090,453$3,044,883$3,456,261
52$3,542,405$3,206,897$3,111,899$3,713,664
53$3,867,640$3,327,945$3,180,057$3,990,862
54$4,224,912$3,453,787$3,249,361$4,293,478
55$4,617,453$3,584,622$3,319,815$4,624,024
56$5,048,823$3,720,659$3,391,419$4,985,268
57$5,522,946$3,862,114$3,464,174$5,380,255
58$6,044,142$4,009,213$3,538,080$5,812,340
59$6,617,173$4,162,193$3,613,134$6,285,218
60$7,247,283$4,321,299$3,689,333$6,802,957
61$7,940,252$4,486,789$3,766,672$7,370,040
62$8,702,448$4,658,931$3,845,144$7,991,401
63$9,540,884$4,838,006$3,924,743$8,672,477
64$10,463,290$5,024,304$4,005,458$9,419,257
65$11,478,183$5,218,132$4,087,278$10,238,334
66$12,594,945$5,419,808$4,170,190$11,136,977
67$13,823,916$5,629,665$4,254,178$12,123,186
68$15,176,487$5,848,050$4,339,224$13,205,781
69$16,665,209$6,075,326$4,425,309$14,394,472
70$18,303,915$6,311,871$4,512,411$15,699,960
71$20,107,842$6,558,080$4,600,504$17,134,033
72$22,093,782$6,814,367$4,689,562$18,709,677
73$24,280,240$7,081,162$4,779,554$20,441,200
74$26,687,602$7,358,917$4,870,447$22,344,364
75$29,338,334$7,648,101$4,962,204$24,436,536
76$32,257,193$7,949,206$5,054,786$26,736,850
77$35,471,454$8,262,745$5,148,149$29,266,388
78$39,011,177$8,589,254$5,242,247$32,048,377
79$42,909,484$8,929,294$5,337,028$35,108,409
80$47,202,871$9,283,450$5,432,439$38,474,682
81$51,931,558$9,652,332$5,528,419$42,178,266
82$57,139,861$10,036,581$5,624,906$46,253,393
83$62,876,616$10,436,863$5,721,830$50,737,785
84$69,195,639$10,853,877$5,819,118$55,673,002
85$76,156,228$11,288,351$5,916,693$61,104,843
86$83,823,730$11,741,047$6,014,469$67,083,768
87$92,270,153$12,212,761$6,112,357$73,665,381
88$101,574,849$12,704,327$6,210,261$80,910,951
89$111,825,257$13,216,612$6,308,078$88,887,989
90$123,117,735$13,750,528$6,405,701$97,670,889
91$135,558,465$14,307,024$6,503,012$107,341,623
92$149,264,454$14,887,094$6,599,888$117,990,519
93$164,364,643$15,491,777$6,696,200$129,717,112
94$181,001,121$16,122,159$6,791,807$142,631,081
95$199,330,466$16,779,374$6,886,563$156,853,287
96$219,525,221$17,464,611$6,980,310$172,516,907
97$241,775,527$18,179,111$7,072,884$189,768,698
98$266,290,915$18,924,171$7,164,110$208,770,377
99$293,302,282$19,701,150$7,253,801$229,700,147
100$323,064,074$20,511,465$7,341,763$252,754,378