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

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$244,434$242,257$240,132$238,059$236,035$226,580
2 years$121,007$118,753$116,569$114,451$112,397$102,991
3 years$79,870$77,607$75,428$73,330$71,310$62,247
4 years$59,306$57,049$54,892$52,830$50,859$42,209
5 years$46,970$44,727$42,599$40,579$38,662$30,448
6 years$38,749$36,523$34,426$32,451$30,592$22,818
7 years$32,879$30,672$28,608$26,680$24,879$17,543
8 years$28,479$26,292$24,262$22,381$20,640$13,733
9 years$25,058$22,892$20,897$19,064$17,382$10,894
10 years$22,323$20,178$18,218$16,433$14,810$8,728
11 years$20,087$17,963$16,039$14,302$12,737$7,048
12 years$18,225$16,123$14,234$12,545$11,038$5,725
13 years$16,650$14,570$12,717$11,075$9,625$4,672
14 years$15,302$13,244$11,427$9,831$8,437$3,828
15 years$14,135$12,099$10,317$8,768$7,429$3,145
16 years$13,114$11,100$9,354$7,850$6,566$2,591
17 years$12,214$10,223$8,511$7,054$5,822$2,139
18 years$11,416$9,446$7,770$6,357$5,176$1,769
19 years$10,702$8,755$7,113$5,744$4,614$1,464
20 years$10,060$8,135$6,528$5,202$4,121$1,214
21 years$9,480$7,578$6,004$4,721$3,688$1,007
22 years$8,954$7,074$5,534$4,293$3,306$836
23 years$8,474$6,616$5,110$3,909$2,967$695
24 years$8,035$6,199$4,726$3,566$2,667$577
25 years$7,631$5,817$4,377$3,256$2,400$480
26 years$7,260$5,467$4,059$2,977$2,162$399
27 years$6,916$5,145$3,769$2,725$1,949$332
28 years$6,597$4,848$3,504$2,497$1,759$277
29 years$6,301$4,574$3,261$2,290$1,588$230
30 years$6,025$4,319$3,037$2,101$1,435$192
31 years$5,768$4,083$2,832$1,930$1,297$160
32 years$5,527$3,864$2,642$1,774$1,173$133
33 years$5,301$3,659$2,467$1,631$1,062$111
34 years$5,089$3,468$2,305$1,501$962$92
35 years$4,889$3,289$2,155$1,382$871$77
36 years$4,701$3,122$2,016$1,272$789$64
37 years$4,524$2,965$1,887$1,172$715$53
38 years$4,356$2,818$1,767$1,081$648$44
39 years$4,197$2,680$1,655$996$588$37
40 years$4,047$2,549$1,552$919$533$31
41 years$3,904$2,427$1,455$848$484$26
42 years$3,769$2,311$1,365$782$439$21
43 years$3,640$2,202$1,281$722$398$18
44 years$3,517$2,099$1,202$667$362$15
45 years$3,400$2,002$1,129$616$328$12
46 years$3,288$1,909$1,060$569$298$10
47 years$3,182$1,822$996$526$271$9
48 years$3,080$1,740$936$486$246$7
49 years$2,983$1,661$880$449$223$6
50 years$2,890$1,587$827$415$203$5

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 $4,078 every year, while hoping to spend $48,379 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: 48/29/23 Blend
50$2,960,000$2,960,000$2,960,000$2,960,000
51$3,266,126$3,109,246$3,063,366$3,401,394
52$3,547,796$3,210,125$3,114,514$3,597,178
53$3,856,575$3,314,324$3,165,754$3,804,504
54$4,195,177$3,421,957$3,217,038$4,028,662
55$4,566,591$3,533,139$3,268,315$4,271,259
56$4,974,110$3,647,989$3,319,530$4,534,059
57$5,421,360$3,766,632$3,370,625$4,819,004
58$5,912,336$3,889,194$3,421,538$5,128,232
59$6,451,438$4,015,809$3,472,204$5,464,095
60$7,043,514$4,146,613$3,522,552$5,829,182
61$7,693,904$4,281,748$3,572,509$6,226,345
62$8,408,491$4,421,362$3,621,996$6,658,719
63$9,193,754$4,565,606$3,670,930$7,129,761
64$10,056,833$4,714,637$3,719,222$7,643,273
65$11,005,593$4,868,617$3,766,780$8,203,443
66$12,048,701$5,027,717$3,813,504$8,814,884
67$13,195,702$5,192,109$3,859,290$9,482,672
68$14,457,116$5,361,974$3,904,029$10,212,402
69$15,844,531$5,537,500$3,947,603$11,010,232
70$17,370,715$5,718,879$3,989,889$11,882,946
71$19,049,735$5,906,312$4,030,758$12,838,015
72$20,897,093$6,100,006$4,070,073$13,883,670
73$22,929,867$6,300,177$4,107,691$15,028,975
74$25,166,873$6,507,045$4,143,459$16,283,916
75$27,628,846$6,720,842$4,177,216$17,659,493
76$30,338,632$6,941,807$4,208,796$19,167,821
77$33,321,402$7,170,185$4,238,021$20,822,251
78$36,604,894$7,406,233$4,264,703$22,637,487
79$40,219,671$7,650,216$4,288,648$24,629,731
80$44,199,408$7,902,408$4,309,649$26,816,830
81$48,581,215$8,163,093$4,327,490$29,218,448
82$53,405,980$8,432,566$4,341,942$31,856,250
83$58,718,761$8,711,132$4,352,767$34,754,105
84$64,569,203$8,999,106$4,359,714$37,938,312
85$71,012,017$9,296,817$4,362,519$41,437,846
86$78,107,485$9,604,604$4,360,906$45,284,634
87$85,922,037$9,922,818$4,354,585$49,513,850
88$94,528,872$10,251,823$4,343,251$54,164,254
89$104,008,652$10,591,998$4,326,585$59,278,552
90$114,450,262$10,943,732$4,304,252$64,903,801
91$125,951,646$11,307,433$4,275,902$71,091,849
92$138,620,737$11,683,520$4,241,168$77,899,829
93$152,576,468$12,072,429$4,199,663$85,390,695
94$167,949,901$12,474,611$4,150,986$93,633,813
95$184,885,460$12,890,536$4,094,712$102,705,620
96$203,542,292$13,320,687$4,030,400$112,690,344
97$224,095,775$13,765,570$3,957,588$123,680,793
98$246,739,166$14,225,705$3,875,789$135,779,239
99$271,685,430$14,701,634$3,784,497$149,098,376
100$299,169,247$15,193,917$3,683,181$163,762,384