Can I retire at age 51 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$244,434$242,257$240,132$238,059$236,035$227,028
2 years$121,007$118,753$116,569$114,451$112,397$103,430
3 years$79,870$77,607$75,428$73,330$71,310$62,663
4 years$59,306$57,049$54,892$52,830$50,859$42,598
5 years$46,970$44,727$42,599$40,579$38,662$30,810
6 years$38,749$36,523$34,426$32,451$30,592$23,153
7 years$32,879$30,672$28,608$26,680$24,879$17,851
8 years$28,479$26,292$24,262$22,381$20,640$14,016
9 years$25,058$22,892$20,897$19,064$17,382$11,153
10 years$22,323$20,178$18,218$16,433$14,810$8,964
11 years$20,087$17,963$16,039$14,302$12,737$7,262
12 years$18,225$16,123$14,234$12,545$11,038$5,918
13 years$16,650$14,570$12,717$11,075$9,625$4,847
14 years$15,302$13,244$11,427$9,831$8,437$3,985
15 years$14,135$12,099$10,317$8,768$7,429$3,286
16 years$13,114$11,100$9,354$7,850$6,566$2,717
17 years$12,214$10,223$8,511$7,054$5,822$2,251
18 years$11,416$9,446$7,770$6,357$5,176$1,868
19 years$10,702$8,755$7,113$5,744$4,614$1,553
20 years$10,060$8,135$6,528$5,202$4,121$1,292
21 years$9,480$7,578$6,004$4,721$3,688$1,076
22 years$8,954$7,074$5,534$4,293$3,306$897
23 years$8,474$6,616$5,110$3,909$2,967$748
24 years$8,035$6,199$4,726$3,566$2,667$624
25 years$7,631$5,817$4,377$3,256$2,400$521
26 years$7,260$5,467$4,059$2,977$2,162$435
27 years$6,916$5,145$3,769$2,725$1,949$364
28 years$6,597$4,848$3,504$2,497$1,759$304
29 years$6,301$4,574$3,261$2,290$1,588$254
30 years$6,025$4,319$3,037$2,101$1,435$212
31 years$5,768$4,083$2,832$1,930$1,297$178
32 years$5,527$3,864$2,642$1,774$1,173$149
33 years$5,301$3,659$2,467$1,631$1,062$124
34 years$5,089$3,468$2,305$1,501$962$104
35 years$4,889$3,289$2,155$1,382$871$87
36 years$4,701$3,122$2,016$1,272$789$73
37 years$4,524$2,965$1,887$1,172$715$61
38 years$4,356$2,818$1,767$1,081$648$51
39 years$4,197$2,680$1,655$996$588$43
40 years$4,047$2,549$1,552$919$533$36
41 years$3,904$2,427$1,455$848$484$30
42 years$3,769$2,311$1,365$782$439$25
43 years$3,640$2,202$1,281$722$398$21
44 years$3,517$2,099$1,202$667$362$17
45 years$3,400$2,002$1,129$616$328$15
46 years$3,288$1,909$1,060$569$298$12
47 years$3,182$1,822$996$526$271$10
48 years$3,080$1,740$936$486$246$9
49 years$2,983$1,661$880$449$223$7
50 years$2,890$1,587$827$415$203$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,960,000, adding $5,269 every year, while hoping to spend $38,586 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: 39/31/30 Blend
50$2,960,000$2,960,000$2,960,000$2,960,000
51$3,267,355$3,110,475$3,064,595$3,365,563
52$3,559,570$3,221,833$3,126,204$3,549,489
53$3,880,298$3,337,354$3,188,583$3,744,322
54$4,232,406$3,457,202$3,251,718$3,954,286
55$4,619,053$3,581,547$3,315,592$4,180,789
56$5,043,718$3,710,565$3,380,187$4,425,377
57$5,510,236$3,844,441$3,445,481$4,689,751
58$6,022,828$3,983,366$3,511,453$4,975,783
59$6,586,146$4,127,542$3,578,077$5,285,529
60$7,205,317$4,277,175$3,645,326$5,621,250
61$7,885,985$4,432,482$3,713,171$5,985,435
62$8,634,372$4,593,690$3,781,578$6,380,821
63$9,457,331$4,761,034$3,850,514$6,810,419
64$10,362,413$4,934,759$3,919,940$7,277,542
65$11,357,936$5,115,120$3,989,816$7,785,837
66$12,453,068$5,302,383$4,060,097$8,339,315
67$13,657,907$5,496,825$4,130,736$8,942,393
68$14,983,580$5,698,736$4,201,682$9,599,931
69$16,442,347$5,908,416$4,272,880$10,317,279
70$18,047,718$6,126,180$4,344,273$11,100,328
71$19,814,576$6,352,354$4,415,798$11,955,561
72$21,759,323$6,587,279$4,487,387$12,890,117
73$23,900,029$6,831,311$4,558,969$13,911,857
74$26,256,607$7,084,820$4,630,469$15,029,435
75$28,850,997$7,348,192$4,701,806$16,252,383
76$31,707,375$7,621,830$4,772,894$17,591,194
77$34,852,382$7,906,155$4,843,640$19,057,426
78$38,315,371$8,201,603$4,913,949$20,663,808
79$42,128,689$8,508,631$4,983,716$22,424,358
80$46,327,978$8,827,716$5,052,833$24,354,515
81$50,952,512$9,159,355$5,121,183$26,471,286
82$56,045,569$9,504,065$5,188,644$28,793,399
83$61,654,840$9,862,386$5,255,085$31,341,487
84$67,832,873$10,234,883$5,320,371$34,138,276
85$74,637,577$10,622,143$5,384,354$37,208,800
86$82,132,762$11,024,780$5,446,882$40,580,635
87$90,388,743$11,443,434$5,507,792$44,284,159
88$99,483,006$11,878,773$5,566,914$48,352,839
89$109,500,933$12,331,494$5,624,066$52,823,541
90$120,536,615$12,802,323$5,679,059$57,736,881
91$132,693,734$13,292,021$5,731,692$63,137,604
92$146,086,544$13,801,380$5,781,753$69,075,008
93$160,840,950$14,331,225$5,829,020$75,603,402
94$177,095,692$14,882,421$5,873,257$82,782,625
95$195,003,661$15,455,868$5,914,219$90,678,600
96$214,733,335$16,052,506$5,951,646$99,363,963
97$236,470,373$16,673,317$5,985,265$108,918,742
98$260,419,368$17,319,326$6,014,788$119,431,110
99$286,805,775$17,991,604$6,039,915$130,998,219
100$315,878,039$18,691,268$6,060,327$143,727,111