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

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$243,608$241,438$239,321$237,255$235,237$229,737
2 years$120,598$118,352$116,175$114,065$112,018$106,508
3 years$79,600$77,344$75,173$73,082$71,069$65,721
4 years$59,105$56,856$54,707$52,652$50,687$45,542
5 years$46,811$44,576$42,455$40,442$38,531$33,605
6 years$38,618$36,400$34,310$32,341$30,488$25,785
7 years$32,768$30,568$28,512$26,590$24,795$20,315
8 years$28,383$26,203$24,180$22,305$20,570$16,312
9 years$24,974$22,814$20,826$18,999$17,323$13,283
10 years$22,248$20,110$18,157$16,378$14,760$10,934
11 years$20,019$17,902$15,985$14,253$12,694$9,077
12 years$18,163$16,068$14,186$12,502$11,000$7,586
13 years$16,594$14,521$12,674$11,038$9,593$6,375
14 years$15,250$13,199$11,388$9,798$8,409$5,381
15 years$14,087$12,058$10,282$8,738$7,404$4,558
16 years$13,070$11,063$9,322$7,824$6,544$3,873
17 years$12,173$10,188$8,483$7,030$5,802$3,300
18 years$11,377$9,414$7,744$6,335$5,159$2,817
19 years$10,666$8,725$7,089$5,724$4,598$2,409
20 years$10,026$8,108$6,506$5,185$4,107$2,064
21 years$9,448$7,552$5,984$4,705$3,675$1,770
22 years$8,924$7,050$5,515$4,278$3,295$1,520
23 years$8,445$6,593$5,092$3,896$2,957$1,306
24 years$8,008$6,178$4,710$3,554$2,658$1,123
25 years$7,606$5,797$4,362$3,245$2,392$967
26 years$7,235$5,449$4,046$2,967$2,155$832
27 years$6,892$5,128$3,757$2,716$1,943$717
28 years$6,575$4,832$3,492$2,489$1,753$618
29 years$6,280$4,558$3,250$2,282$1,583$533
30 years$6,005$4,305$3,027$2,094$1,430$460
31 years$5,748$4,070$2,822$1,923$1,293$397
32 years$5,508$3,851$2,633$1,768$1,170$342
33 years$5,283$3,647$2,459$1,626$1,058$296
34 years$5,072$3,456$2,297$1,496$958$255
35 years$4,873$3,278$2,148$1,377$868$220
36 years$4,685$3,111$2,009$1,268$786$190
37 years$4,508$2,955$1,880$1,168$713$164
38 years$4,341$2,808$1,761$1,077$646$142
39 years$4,183$2,671$1,650$993$586$123
40 years$4,033$2,541$1,546$916$531$106
41 years$3,891$2,419$1,450$845$482$92
42 years$3,756$2,303$1,360$780$438$79
43 years$3,627$2,195$1,276$720$397$68
44 years$3,505$2,092$1,198$665$360$59
45 years$3,388$1,995$1,125$614$327$51
46 years$3,277$1,903$1,057$567$297$44
47 years$3,171$1,816$993$524$270$38
48 years$3,070$1,734$933$484$245$33
49 years$2,973$1,656$877$447$223$28
50 years$2,880$1,581$824$414$202$25

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 $3,557 every year, while hoping to spend $26,686 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: 77/15/8 Blend
50$2,950,000$2,950,000$2,950,000$2,950,000
51$3,254,569$3,098,219$3,052,494$3,501,192
52$3,558,141$3,221,638$3,126,359$3,787,152
53$3,891,784$3,350,210$3,201,804$4,096,809
54$4,258,535$3,484,160$3,278,854$4,435,541
55$4,661,743$3,623,721$3,357,533$4,806,229
56$5,105,097$3,769,140$3,437,866$5,212,043
57$5,592,661$3,920,671$3,519,878$5,656,474
58$6,128,911$4,078,583$3,603,593$6,143,366
59$6,718,782$4,243,156$3,689,036$6,676,950
60$7,367,708$4,414,681$3,776,229$7,261,887
61$8,081,679$4,593,464$3,865,197$7,903,308
62$8,867,292$4,779,826$3,955,963$8,606,866
63$9,731,818$4,974,100$4,048,550$9,378,782
64$10,683,267$5,176,635$4,142,980$10,225,913
65$11,730,467$5,387,796$4,239,277$11,155,807
66$12,883,143$5,607,967$4,337,460$12,176,779
67$14,152,011$5,837,544$4,437,553$13,297,986
68$15,548,879$6,076,947$4,539,574$14,529,516
69$17,086,758$6,326,611$4,643,544$15,882,479
70$18,779,986$6,586,994$4,749,481$17,369,115
71$20,644,361$6,858,572$4,857,404$19,002,906
72$22,697,289$7,141,846$4,967,331$20,798,702
73$24,957,953$7,437,336$5,079,276$22,772,864
74$27,447,488$7,745,591$5,193,257$24,943,414
75$30,189,187$8,067,180$5,309,286$27,330,208
76$33,208,715$8,402,702$5,427,377$29,955,117
77$36,534,351$8,752,781$5,547,542$32,842,239
78$40,197,260$9,118,073$5,669,789$36,018,122
79$44,231,782$9,499,260$5,794,129$39,512,013
80$48,675,759$9,897,059$5,920,568$43,356,137
81$53,570,891$10,312,219$6,049,111$47,585,994
82$58,963,127$10,745,524$6,179,762$52,240,699
83$64,903,104$11,197,792$6,312,522$57,363,349
84$71,446,619$11,669,882$6,447,390$63,001,425
85$78,655,160$12,162,692$6,584,363$69,207,242
86$86,596,483$12,677,161$6,723,436$76,038,443
87$95,345,253$13,214,271$6,864,600$83,558,538
88$104,983,750$13,775,051$7,007,845$91,837,505
89$115,602,642$14,360,578$7,153,157$100,952,448
90$127,301,843$14,971,978$7,300,520$110,988,326
91$140,191,456$15,610,430$7,449,912$122,038,748
92$154,392,812$16,277,168$7,601,312$134,206,860
93$170,039,613$16,973,484$7,754,690$147,606,318
94$187,279,199$17,700,730$7,910,017$162,362,353
95$206,273,931$18,460,320$8,067,257$178,612,957
96$227,202,733$19,253,736$8,226,371$196,510,182
97$250,262,771$20,082,529$8,387,314$216,221,575
98$275,671,323$20,948,322$8,550,038$237,931,753
99$303,667,821$21,852,813$8,714,488$261,844,150
100$334,516,120$22,797,782$8,880,604$288,182,932