Can I retire at age 51 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$245,260$243,075$240,944$238,863$236,832$229,527
2 years$121,416$119,154$116,963$114,838$112,777$105,481
3 years$80,140$77,869$75,683$73,578$71,550$64,492
4 years$59,506$57,242$55,078$53,009$51,030$44,264
5 years$47,129$44,878$42,743$40,716$38,792$32,337
6 years$38,880$36,646$34,542$32,561$30,695$24,556
7 years$32,990$30,776$28,705$26,770$24,963$19,139
8 years$28,575$26,380$24,344$22,457$20,710$15,197
9 years$25,143$22,969$20,967$19,128$17,440$12,234
10 years$22,399$20,246$18,280$16,489$14,860$9,952
11 years$20,155$18,024$16,093$14,350$12,780$8,162
12 years$18,286$16,177$14,282$12,587$11,075$6,737
13 years$16,707$14,619$12,760$11,112$9,658$5,589
14 years$15,354$13,289$11,465$9,864$8,466$4,656
15 years$14,182$12,139$10,352$8,797$7,454$3,892
16 years$13,158$11,138$9,385$7,877$6,588$3,263
17 years$12,256$10,257$8,540$7,077$5,841$2,741
18 years$11,454$9,478$7,796$6,378$5,194$2,307
19 years$10,738$8,784$7,137$5,763$4,629$1,946
20 years$10,094$8,163$6,550$5,220$4,135$1,643
21 years$9,512$7,603$6,025$4,737$3,700$1,388
22 years$8,984$7,098$5,553$4,307$3,317$1,174
23 years$8,503$6,638$5,127$3,923$2,977$994
24 years$8,062$6,220$4,742$3,578$2,676$842
25 years$7,657$5,837$4,392$3,267$2,408$714
26 years$7,284$5,486$4,073$2,987$2,169$606
27 years$6,939$5,163$3,782$2,735$1,956$514
28 years$6,619$4,865$3,516$2,505$1,765$436
29 years$6,322$4,589$3,272$2,298$1,593$370
30 years$6,046$4,334$3,048$2,109$1,440$314
31 years$5,787$4,097$2,841$1,937$1,302$267
32 years$5,545$3,877$2,651$1,780$1,177$227
33 years$5,319$3,671$2,475$1,637$1,066$193
34 years$5,106$3,480$2,313$1,506$965$164
35 years$4,906$3,300$2,162$1,386$874$139
36 years$4,717$3,132$2,023$1,277$792$118
37 years$4,539$2,975$1,893$1,176$718$101
38 years$4,371$2,827$1,773$1,084$651$85
39 years$4,211$2,689$1,661$1,000$590$73
40 years$4,060$2,558$1,557$922$535$62
41 years$3,917$2,435$1,460$851$485$53
42 years$3,781$2,319$1,369$785$441$45
43 years$3,652$2,210$1,285$725$400$38
44 years$3,529$2,106$1,206$669$363$32
45 years$3,411$2,008$1,133$618$329$27
46 years$3,300$1,916$1,064$571$299$23
47 years$3,193$1,828$999$527$272$20
48 years$3,091$1,745$939$487$247$17
49 years$2,993$1,667$883$450$224$14
50 years$2,900$1,592$830$416$203$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,970,000, adding $6,047 every year, while hoping to spend $42,455 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: 36/42/22 Blend
50$2,970,000$2,970,000$2,970,000$2,970,000
51$3,279,177$3,121,767$3,075,732$3,375,230
52$3,568,482$3,229,562$3,133,598$3,553,976
53$3,885,872$3,341,216$3,191,979$3,742,450
54$4,234,169$3,456,873$3,250,847$3,945,062
55$4,616,478$3,576,684$3,310,174$4,163,105
56$5,036,220$3,700,803$3,369,927$4,397,997
57$5,497,166$3,829,394$3,430,071$4,651,296
58$6,003,466$3,962,623$3,490,568$4,924,717
59$6,559,695$4,100,667$3,551,377$5,220,141
60$7,170,892$4,243,708$3,612,456$5,539,637
61$7,842,607$4,391,934$3,673,757$5,885,481
62$8,580,956$4,545,541$3,735,231$6,260,174
63$9,392,676$4,704,736$3,796,824$6,666,468
64$10,285,190$4,869,729$3,858,479$7,107,387
65$11,266,676$5,040,742$3,920,135$7,586,259
66$12,346,145$5,218,006$3,981,727$8,106,746
67$13,533,522$5,401,759$4,043,185$8,672,877
68$14,839,746$5,592,250$4,104,437$9,289,082
69$16,276,868$5,789,738$4,165,403$9,960,239
70$17,858,166$5,994,492$4,226,001$10,691,716
71$19,598,269$6,206,793$4,286,143$11,489,420
72$21,513,298$6,426,931$4,345,734$12,359,854
73$23,621,014$6,655,210$4,404,675$13,310,175
74$25,940,987$6,891,946$4,462,862$14,348,262
75$28,494,783$7,137,466$4,520,183$15,482,791
76$31,306,162$7,392,113$4,576,521$16,723,311
77$34,401,307$7,656,243$4,631,750$18,080,338
78$37,809,066$7,930,225$4,685,740$19,565,451
79$41,561,231$8,214,445$4,738,352$21,191,400
80$45,692,828$8,509,305$4,789,439$22,972,225
81$50,242,458$8,815,222$4,838,846$24,923,388
82$55,252,652$9,132,632$4,886,411$27,061,917
83$60,770,278$9,461,986$4,931,961$29,406,567
84$66,846,980$9,803,757$4,975,316$31,977,992
85$73,539,667$10,158,437$5,016,284$34,798,943
86$80,911,049$10,526,535$5,054,665$37,894,477
87$89,030,227$10,908,587$5,090,247$41,292,196
88$97,973,348$11,305,145$5,122,808$45,022,503
89$107,824,322$11,716,790$5,152,115$49,118,887
90$118,675,612$12,144,122$5,177,920$53,618,243
91$130,629,110$12,587,769$5,199,966$58,561,208
92$143,797,095$13,048,386$5,217,980$63,992,554
93$158,303,295$13,526,653$5,231,679$69,961,601
94$174,284,052$14,023,280$5,240,762$76,522,685
95$191,889,613$14,539,008$5,244,914$83,735,665
96$211,285,540$15,074,607$5,243,806$91,666,488
97$232,654,283$15,630,880$5,237,091$100,387,812
98$256,196,893$16,208,666$5,224,406$109,979,685
99$282,134,922$16,808,837$5,205,370$120,530,298
100$310,712,518$17,432,304$5,179,584$132,136,822