Can I retire at age 51 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$243,608$241,438$239,321$237,255$235,237$226,441
2 years$120,598$118,352$116,175$114,065$112,018$103,256
3 years$79,600$77,344$75,173$73,082$71,069$62,618
4 years$59,105$56,856$54,707$52,652$50,687$42,611
5 years$46,811$44,576$42,455$40,442$38,531$30,851
6 years$38,618$36,400$34,310$32,341$30,488$23,209
7 years$32,768$30,568$28,512$26,590$24,795$17,915
8 years$28,383$26,203$24,180$22,305$20,570$14,083
9 years$24,974$22,814$20,826$18,999$17,323$11,220
10 years$22,248$20,110$18,157$16,378$14,760$9,030
11 years$20,019$17,902$15,985$14,253$12,694$7,324
12 years$18,163$16,068$14,186$12,502$11,000$5,977
13 years$16,594$14,521$12,674$11,038$9,593$4,902
14 years$15,250$13,199$11,388$9,798$8,409$4,036
15 years$14,087$12,058$10,282$8,738$7,404$3,333
16 years$13,070$11,063$9,322$7,824$6,544$2,760
17 years$12,173$10,188$8,483$7,030$5,802$2,290
18 years$11,377$9,414$7,744$6,335$5,159$1,903
19 years$10,666$8,725$7,089$5,724$4,598$1,584
20 years$10,026$8,108$6,506$5,185$4,107$1,320
21 years$9,448$7,552$5,984$4,705$3,675$1,101
22 years$8,924$7,050$5,515$4,278$3,295$919
23 years$8,445$6,593$5,092$3,896$2,957$768
24 years$8,008$6,178$4,710$3,554$2,658$642
25 years$7,606$5,797$4,362$3,245$2,392$537
26 years$7,235$5,449$4,046$2,967$2,155$449
27 years$6,892$5,128$3,757$2,716$1,943$376
28 years$6,575$4,832$3,492$2,489$1,753$315
29 years$6,280$4,558$3,250$2,282$1,583$263
30 years$6,005$4,305$3,027$2,094$1,430$221
31 years$5,748$4,070$2,822$1,923$1,293$185
32 years$5,508$3,851$2,633$1,768$1,170$155
33 years$5,283$3,647$2,459$1,626$1,058$130
34 years$5,072$3,456$2,297$1,496$958$109
35 years$4,873$3,278$2,148$1,377$868$91
36 years$4,685$3,111$2,009$1,268$786$76
37 years$4,508$2,955$1,880$1,168$713$64
38 years$4,341$2,808$1,761$1,077$646$54
39 years$4,183$2,671$1,650$993$586$45
40 years$4,033$2,541$1,546$916$531$38
41 years$3,891$2,419$1,450$845$482$32
42 years$3,756$2,303$1,360$780$438$26
43 years$3,627$2,195$1,276$720$397$22
44 years$3,505$2,092$1,198$665$360$19
45 years$3,388$1,995$1,125$614$327$16
46 years$3,277$1,903$1,057$567$297$13
47 years$3,171$1,816$993$524$270$11
48 years$3,070$1,734$933$484$245$9
49 years$2,973$1,656$877$447$223$8
50 years$2,880$1,581$824$414$202$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,950,000, adding $2,753 every year, while hoping to spend $27,362 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: 73/7/20 Blend
50$2,950,000$2,950,000$2,950,000$2,950,000
51$3,253,740$3,097,390$3,051,665$3,475,484
52$3,556,508$3,220,049$3,124,783$3,745,872
53$3,889,242$3,347,801$3,199,433$4,038,432
54$4,254,969$3,480,868$3,275,638$4,358,247
55$4,657,024$3,619,478$3,353,420$4,708,022
56$5,099,082$3,763,875$3,432,801$5,090,737
57$5,585,192$3,914,308$3,513,804$5,509,670
58$6,119,814$4,071,042$3,596,449$5,968,435
59$6,707,864$4,234,351$3,680,758$6,471,009
60$7,354,755$4,404,523$3,766,752$7,021,774
61$8,066,453$4,581,858$3,854,452$7,625,555
62$8,849,532$4,766,670$3,943,877$8,287,669
63$9,711,235$4,959,288$4,035,048$9,013,969
64$10,659,542$5,160,053$4,127,982$9,810,905
65$11,703,245$5,369,326$4,222,700$10,685,580
66$12,852,034$5,587,481$4,319,218$11,645,820
67$14,116,583$5,814,909$4,417,554$12,700,245
68$15,508,656$6,052,022$4,517,724$13,858,352
69$17,041,215$6,299,246$4,619,743$15,130,602
70$18,728,540$6,557,031$4,723,626$16,528,522
71$20,586,370$6,825,844$4,829,386$18,064,807
72$22,632,046$7,106,177$4,937,037$19,753,447
73$24,884,676$7,398,540$5,046,588$21,609,854
74$27,365,314$7,703,470$5,158,050$23,651,008
75$30,097,164$8,021,528$5,271,433$25,895,616
76$33,105,790$8,353,298$5,386,741$28,364,290
77$36,419,366$8,699,395$5,503,983$31,079,741
78$40,068,936$9,060,460$5,623,160$34,066,989
79$44,088,707$9,437,163$5,744,276$37,353,604
80$48,516,377$9,830,205$5,867,331$40,969,963
81$53,393,484$10,240,321$5,992,323$44,949,535
82$58,765,801$10,668,279$6,119,247$49,329,201
83$64,683,769$11,114,881$6,248,099$54,149,594
84$71,202,972$11,580,968$6,378,868$59,455,489
85$78,384,659$12,067,420$6,511,544$65,296,223
86$86,296,326$12,575,155$6,646,113$71,726,157
87$95,012,351$13,105,138$6,782,557$78,805,192
88$104,614,695$13,658,374$6,920,857$86,599,334
89$115,193,677$14,235,917$7,060,989$95,181,314
90$126,848,826$14,838,872$7,202,927$104,631,273
91$139,689,821$15,468,391$7,346,639$115,037,522
92$153,837,523$16,125,682$7,492,092$126,497,373
93$169,425,120$16,812,010$7,639,246$139,118,053
94$186,599,381$17,528,697$7,788,060$153,017,722
95$205,522,043$18,277,129$7,938,485$168,326,582
96$226,371,336$19,058,753$8,090,470$185,188,109
97$249,343,668$19,875,088$8,243,956$203,760,404
98$274,655,476$20,727,720$8,398,882$224,217,686
99$302,545,268$21,618,312$8,555,178$246,751,933
100$333,275,879$22,548,604$8,712,771$271,574,700