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%14.4%
1 years$243,608$241,438$239,321$237,255$235,237$230,960
2 years$120,598$118,352$116,175$114,065$112,018$107,724
3 years$79,600$77,344$75,173$73,082$71,069$66,892
4 years$59,105$56,856$54,707$52,652$50,687$46,659
5 years$46,811$44,576$42,455$40,442$38,531$34,665
6 years$38,618$36,400$34,310$32,341$30,488$26,787
7 years$32,768$30,568$28,512$26,590$24,795$21,260
8 years$28,383$26,203$24,180$22,305$20,570$17,200
9 years$24,974$22,814$20,826$18,999$17,323$14,116
10 years$22,248$20,110$18,157$16,378$14,760$11,713
11 years$20,019$17,902$15,985$14,253$12,694$9,804
12 years$18,163$16,068$14,186$12,502$11,000$8,263
13 years$16,594$14,521$12,674$11,038$9,593$7,004
14 years$15,250$13,199$11,388$9,798$8,409$5,964
15 years$14,087$12,058$10,282$8,738$7,404$5,099
16 years$13,070$11,063$9,322$7,824$6,544$4,372
17 years$12,173$10,188$8,483$7,030$5,802$3,760
18 years$11,377$9,414$7,744$6,335$5,159$3,240
19 years$10,666$8,725$7,089$5,724$4,598$2,798
20 years$10,026$8,108$6,506$5,185$4,107$2,420
21 years$9,448$7,552$5,984$4,705$3,675$2,097
22 years$8,924$7,050$5,515$4,278$3,295$1,818
23 years$8,445$6,593$5,092$3,896$2,957$1,578
24 years$8,008$6,178$4,710$3,554$2,658$1,372
25 years$7,606$5,797$4,362$3,245$2,392$1,193
26 years$7,235$5,449$4,046$2,967$2,155$1,038
27 years$6,892$5,128$3,757$2,716$1,943$904
28 years$6,575$4,832$3,492$2,489$1,753$787
29 years$6,280$4,558$3,250$2,282$1,583$686
30 years$6,005$4,305$3,027$2,094$1,430$598
31 years$5,748$4,070$2,822$1,923$1,293$522
32 years$5,508$3,851$2,633$1,768$1,170$455
33 years$5,283$3,647$2,459$1,626$1,058$397
34 years$5,072$3,456$2,297$1,496$958$347
35 years$4,873$3,278$2,148$1,377$868$303
36 years$4,685$3,111$2,009$1,268$786$264
37 years$4,508$2,955$1,880$1,168$713$231
38 years$4,341$2,808$1,761$1,077$646$202
39 years$4,183$2,671$1,650$993$586$176
40 years$4,033$2,541$1,546$916$531$154
41 years$3,891$2,419$1,450$845$482$134
42 years$3,756$2,303$1,360$780$438$117
43 years$3,627$2,195$1,276$720$397$103
44 years$3,505$2,092$1,198$665$360$90
45 years$3,388$1,995$1,125$614$327$78
46 years$3,277$1,903$1,057$567$297$68
47 years$3,171$1,816$993$524$270$60
48 years$3,070$1,734$933$484$245$52
49 years$2,973$1,656$877$447$223$46
50 years$2,880$1,581$824$414$202$40

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 $6,837 every year, while hoping to spend $33,359 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: 84/6/10 Blend
50$2,950,000$2,950,000$2,950,000$2,950,000
51$3,257,952$3,101,602$3,055,877$3,526,213
52$3,554,770$3,218,087$3,122,756$3,819,127
53$3,880,745$3,339,162$3,190,756$4,135,626
54$4,238,815$3,465,016$3,259,881$4,482,257
55$4,632,220$3,595,847$3,330,133$4,862,028
56$5,064,525$3,731,861$3,401,510$5,278,254
57$5,539,659$3,873,275$3,474,014$5,734,587
58$6,061,951$4,020,313$3,547,640$6,235,046
59$6,636,170$4,173,208$3,622,386$6,784,061
60$7,267,571$4,332,207$3,698,247$7,386,511
61$7,961,941$4,497,563$3,775,217$8,047,770
62$8,725,659$4,669,544$3,853,287$8,773,758
63$9,565,752$4,848,427$3,932,447$9,570,995
64$10,489,962$5,034,503$4,012,687$10,446,667
65$11,506,819$5,228,074$4,093,993$11,408,686
66$12,625,722$5,429,457$4,176,350$12,465,773
67$13,857,027$5,638,982$4,259,739$13,627,532
68$15,212,145$5,856,994$4,344,141$14,904,546
69$16,703,649$6,083,851$4,429,535$16,308,474
70$18,345,391$6,319,931$4,515,895$17,852,161
71$20,152,638$6,565,624$4,603,194$19,549,759
72$22,142,208$6,821,341$4,691,402$21,416,861
73$24,332,636$7,087,509$4,780,486$23,470,646
74$26,744,342$7,364,574$4,870,411$25,730,044
75$29,399,831$7,653,004$4,961,135$28,215,911
76$32,323,898$7,953,285$5,052,617$30,951,225
77$35,543,866$8,265,927$5,144,810$33,961,307
78$39,089,843$8,591,460$5,237,664$37,274,056
79$42,995,006$8,930,440$5,331,125$40,920,212
80$47,295,912$9,283,448$5,425,133$44,933,647
81$52,032,846$9,651,088$5,519,626$49,351,682
82$57,250,199$10,033,994$5,614,537$54,215,443
83$62,996,888$10,432,828$5,709,792$59,570,246
84$69,326,814$10,848,280$5,805,314$65,466,022
85$76,299,376$11,281,073$5,901,019$71,957,792
86$83,980,029$11,731,962$5,996,819$79,106,184
87$92,440,899$12,201,735$6,092,620$86,978,006
88$101,761,467$12,691,216$6,188,319$95,646,872
89$112,029,318$13,201,268$6,283,809$105,193,902
90$123,340,968$13,732,789$6,378,976$115,708,484
91$135,802,773$14,286,722$6,473,698$127,289,116
92$149,531,934$14,864,050$6,567,845$140,044,337
93$164,657,604$15,465,801$6,661,281$154,093,754
94$181,322,105$16,093,051$6,753,859$169,569,163
95$199,682,272$16,746,922$6,845,425$186,615,798
96$219,910,933$17,428,591$6,935,817$205,393,702
97$242,198,541$18,139,285$7,024,860$226,079,231
98$266,754,971$18,880,289$7,112,371$248,866,726
99$293,811,501$19,652,946$7,198,158$273,970,339
100$323,622,993$20,458,660$7,282,016$301,626,062