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

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$245,260$243,075$240,944$238,863$236,832$230,174
2 years$121,416$119,154$116,963$114,838$112,777$106,120
3 years$80,140$77,869$75,683$73,578$71,550$65,102
4 years$59,506$57,242$55,078$53,009$51,030$44,841
5 years$47,129$44,878$42,743$40,716$38,792$32,879
6 years$38,880$36,646$34,542$32,561$30,695$25,063
7 years$32,990$30,776$28,705$26,770$24,963$19,613
8 years$28,575$26,380$24,344$22,457$20,710$15,638
9 years$25,143$22,969$20,967$19,128$17,440$12,642
10 years$22,399$20,246$18,280$16,489$14,860$10,329
11 years$20,155$18,024$16,093$14,350$12,780$8,509
12 years$18,286$16,177$14,282$12,587$11,075$7,056
13 years$16,707$14,619$12,760$11,112$9,658$5,882
14 years$15,354$13,289$11,465$9,864$8,466$4,924
15 years$14,182$12,139$10,352$8,797$7,454$4,136
16 years$13,158$11,138$9,385$7,877$6,588$3,485
17 years$12,256$10,257$8,540$7,077$5,841$2,943
18 years$11,454$9,478$7,796$6,378$5,194$2,490
19 years$10,738$8,784$7,137$5,763$4,629$2,111
20 years$10,094$8,163$6,550$5,220$4,135$1,791
21 years$9,512$7,603$6,025$4,737$3,700$1,522
22 years$8,984$7,098$5,553$4,307$3,317$1,295
23 years$8,503$6,638$5,127$3,923$2,977$1,102
24 years$8,062$6,220$4,742$3,578$2,676$939
25 years$7,657$5,837$4,392$3,267$2,408$801
26 years$7,284$5,486$4,073$2,987$2,169$683
27 years$6,939$5,163$3,782$2,735$1,956$583
28 years$6,619$4,865$3,516$2,505$1,765$497
29 years$6,322$4,589$3,272$2,298$1,593$425
30 years$6,046$4,334$3,048$2,109$1,440$363
31 years$5,787$4,097$2,841$1,937$1,302$310
32 years$5,545$3,877$2,651$1,780$1,177$265
33 years$5,319$3,671$2,475$1,637$1,066$226
34 years$5,106$3,480$2,313$1,506$965$193
35 years$4,906$3,300$2,162$1,386$874$165
36 years$4,717$3,132$2,023$1,277$792$141
37 years$4,539$2,975$1,893$1,176$718$121
38 years$4,371$2,827$1,773$1,084$651$103
39 years$4,211$2,689$1,661$1,000$590$88
40 years$4,060$2,558$1,557$922$535$76
41 years$3,917$2,435$1,460$851$485$65
42 years$3,781$2,319$1,369$785$441$55
43 years$3,652$2,210$1,285$725$400$47
44 years$3,529$2,106$1,206$669$363$40
45 years$3,411$2,008$1,133$618$329$35
46 years$3,300$1,916$1,064$571$299$30
47 years$3,193$1,828$999$527$272$25
48 years$3,091$1,745$939$487$247$22
49 years$2,993$1,667$883$450$224$19
50 years$2,900$1,592$830$416$203$16

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 $6,850 every year, while hoping to spend $29,213 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: 33/39/28 Blend
50$2,970,000$2,970,000$2,970,000$2,970,000
51$3,280,006$3,122,596$3,076,561$3,360,148
52$3,583,484$3,244,521$3,148,543$3,543,593
53$3,916,938$3,371,441$3,221,958$3,738,086
54$4,283,394$3,503,570$3,296,822$3,947,134
55$4,686,187$3,641,131$3,373,152$4,172,045
56$5,128,990$3,784,359$3,450,965$4,414,255
57$5,615,851$3,933,497$3,530,276$4,675,340
58$6,151,229$4,088,798$3,611,101$4,957,031
59$6,740,035$4,250,531$3,693,454$5,261,228
60$7,387,683$4,418,971$3,777,350$5,590,015
61$8,100,137$4,594,411$3,862,801$5,945,686
62$8,883,966$4,777,152$3,949,820$6,330,757
63$9,746,411$4,967,513$4,038,419$6,747,994
64$10,695,448$5,165,825$4,128,610$7,200,437
65$11,739,867$5,372,433$4,220,401$7,691,427
66$12,889,351$5,587,699$4,313,802$8,224,635
67$14,154,570$5,812,003$4,408,820$8,804,100
68$15,547,283$6,045,738$4,505,462$9,434,260
69$17,080,445$6,289,317$4,603,734$10,119,999
70$18,768,330$6,543,174$4,703,639$10,866,684
71$20,626,669$6,807,758$4,805,179$11,680,221
72$22,672,793$7,083,542$4,908,357$12,567,108
73$24,925,801$7,371,019$5,013,170$13,534,491
74$27,406,738$7,670,704$5,119,616$14,590,232
75$30,138,793$7,983,137$5,227,692$15,742,986
76$33,147,520$8,308,881$5,337,390$17,002,274
77$36,461,076$8,648,525$5,448,701$18,378,573
78$40,110,489$9,002,686$5,561,616$19,883,416
79$44,129,949$9,372,007$5,676,120$21,529,498
80$48,557,132$9,757,164$5,792,198$23,330,790
81$53,433,555$10,158,860$5,909,832$25,302,673
82$58,804,965$10,577,832$6,028,999$27,462,081
83$64,721,777$11,014,851$6,149,676$29,827,653
84$71,239,544$11,470,724$6,271,835$32,419,916
85$78,419,480$11,946,293$6,395,445$35,261,466
86$86,329,046$12,442,440$6,520,471$38,377,187
87$95,042,577$12,960,088$6,646,875$41,794,478
88$104,641,989$13,500,201$6,774,615$45,543,511
89$115,217,551$14,063,790$6,903,643$49,657,514
90$126,868,735$14,651,910$7,033,910$54,173,078
91$139,705,159$15,265,666$7,165,358$59,130,502
92$153,847,616$15,906,215$7,297,929$64,574,170
93$169,429,219$16,574,765$7,431,555$70,552,965
94$186,596,652$17,272,582$7,566,166$77,120,728
95$205,511,563$18,000,990$7,701,684$84,336,764
96$226,352,078$18,761,375$7,838,027$92,266,393
97$249,314,494$19,555,187$7,975,105$100,981,567
98$274,615,124$20,383,941$8,112,821$110,561,544
99$302,492,339$21,249,228$8,251,074$121,093,630
100$333,208,825$22,152,707$8,389,752$132,674,002