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%15.4%
1 years$245,260$243,075$240,944$238,863$236,832$231,577
2 years$121,416$119,154$116,963$114,838$112,777$107,510
3 years$80,140$77,869$75,683$73,578$71,550$66,436
4 years$59,506$57,242$55,078$53,009$51,030$46,108
5 years$47,129$44,878$42,743$40,716$38,792$34,076
6 years$38,880$36,646$34,542$32,561$30,695$26,189
7 years$32,990$30,776$28,705$26,770$24,963$20,669
8 years$28,575$26,380$24,344$22,457$20,710$16,625
9 years$25,143$22,969$20,967$19,128$17,440$13,562
10 years$22,399$20,246$18,280$16,489$14,860$11,185
11 years$20,155$18,024$16,093$14,350$12,780$9,303
12 years$18,286$16,177$14,282$12,587$11,075$7,790
13 years$16,707$14,619$12,760$11,112$9,658$6,559
14 years$15,354$13,289$11,465$9,864$8,466$5,548
15 years$14,182$12,139$10,352$8,797$7,454$4,710
16 years$13,158$11,138$9,385$7,877$6,588$4,011
17 years$12,256$10,257$8,540$7,077$5,841$3,424
18 years$11,454$9,478$7,796$6,378$5,194$2,930
19 years$10,738$8,784$7,137$5,763$4,629$2,511
20 years$10,094$8,163$6,550$5,220$4,135$2,156
21 years$9,512$7,603$6,025$4,737$3,700$1,853
22 years$8,984$7,098$5,553$4,307$3,317$1,595
23 years$8,503$6,638$5,127$3,923$2,977$1,374
24 years$8,062$6,220$4,742$3,578$2,676$1,184
25 years$7,657$5,837$4,392$3,267$2,408$1,022
26 years$7,284$5,486$4,073$2,987$2,169$882
27 years$6,939$5,163$3,782$2,735$1,956$762
28 years$6,619$4,865$3,516$2,505$1,765$658
29 years$6,322$4,589$3,272$2,298$1,593$569
30 years$6,046$4,334$3,048$2,109$1,440$492
31 years$5,787$4,097$2,841$1,937$1,302$426
32 years$5,545$3,877$2,651$1,780$1,177$368
33 years$5,319$3,671$2,475$1,637$1,066$319
34 years$5,106$3,480$2,313$1,506$965$276
35 years$4,906$3,300$2,162$1,386$874$239
36 years$4,717$3,132$2,023$1,277$792$207
37 years$4,539$2,975$1,893$1,176$718$179
38 years$4,371$2,827$1,773$1,084$651$155
39 years$4,211$2,689$1,661$1,000$590$134
40 years$4,060$2,558$1,557$922$535$116
41 years$3,917$2,435$1,460$851$485$101
42 years$3,781$2,319$1,369$785$441$87
43 years$3,652$2,210$1,285$725$400$76
44 years$3,529$2,106$1,206$669$363$65
45 years$3,411$2,008$1,133$618$329$57
46 years$3,300$1,916$1,064$571$299$49
47 years$3,193$1,828$999$527$272$43
48 years$3,091$1,745$939$487$247$37
49 years$2,993$1,667$883$450$224$32
50 years$2,900$1,592$830$416$203$28

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 $2,108 every year, while hoping to spend $34,237 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: 66/18/16 Blend
50$2,970,000$2,970,000$2,970,000$2,970,000
51$3,275,114$3,117,704$3,071,669$3,478,495
52$3,572,748$3,234,044$3,138,142$3,731,075
53$3,899,593$3,354,937$3,205,695$4,002,887
54$4,258,593$3,480,570$3,274,327$4,299,162
55$4,652,989$3,611,138$3,344,037$4,622,295
56$5,086,355$3,746,844$3,414,823$4,974,923
57$5,562,625$3,887,901$3,486,681$5,359,946
58$6,086,134$4,034,530$3,559,606$5,780,560
59$6,661,659$4,186,962$3,633,593$6,240,280
60$7,294,462$4,345,437$3,708,632$6,742,978
61$7,990,341$4,510,206$3,784,714$7,292,917
62$8,755,682$4,681,533$3,861,829$7,894,790
63$9,597,523$4,859,689$3,939,961$8,553,765
64$10,523,618$5,044,962$4,019,098$9,275,533
65$11,542,510$5,237,647$4,099,220$10,066,361
66$12,663,611$5,438,058$4,180,309$10,933,151
67$13,897,293$5,646,516$4,262,344$11,883,503
68$15,254,984$5,863,363$4,345,299$12,925,790
69$16,749,275$6,088,950$4,429,149$14,069,232
70$18,394,039$6,323,646$4,513,863$15,323,984
71$20,204,563$6,567,837$4,599,410$16,701,232
72$22,197,693$6,821,925$4,685,755$18,213,299
73$24,391,988$7,086,330$4,772,858$19,873,756
74$26,807,900$7,361,490$4,860,678$21,697,554
75$29,467,965$7,647,862$4,949,170$23,701,163
76$32,397,015$7,945,925$5,038,285$25,902,727
77$35,622,413$8,256,178$5,127,970$28,322,232
78$39,174,310$8,579,141$5,218,167$30,981,698
79$43,085,930$8,915,359$5,308,816$33,905,381
80$47,393,884$9,265,401$5,399,851$37,120,007
81$52,138,515$9,629,861$5,491,201$40,655,018
82$57,364,278$10,009,358$5,582,790$44,542,851
83$63,120,159$10,404,541$5,674,539$48,819,246
84$69,460,138$10,816,087$5,766,359$53,523,576
85$76,443,700$11,244,703$5,858,160$58,699,224
86$84,136,392$11,691,129$5,949,843$64,393,988
87$92,610,445$12,156,135$6,041,303$70,660,531
88$101,945,454$12,640,528$6,132,430$77,556,878
89$112,229,128$13,145,153$6,223,105$85,146,963
90$123,558,123$13,670,889$6,313,203$93,501,230
91$136,038,947$14,218,657$6,402,590$102,697,297
92$149,788,968$14,789,420$6,491,125$112,820,688
93$164,937,523$15,384,183$6,578,659$123,965,636
94$181,627,139$16,003,996$6,665,033$136,235,977
95$200,014,875$16,649,959$6,750,078$149,746,123
96$220,273,805$17,323,220$6,833,619$164,622,142
97$242,594,654$18,024,979$6,915,466$181,002,949
98$267,187,597$18,756,491$6,995,423$199,041,611
99$294,284,241$19,519,069$7,073,279$218,906,796
100$324,139,814$20,314,083$7,148,814$240,784,358