Can I retire at age 51 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$246,086$243,894$241,755$239,668$237,629$236,529
2 years$121,825$119,556$117,357$115,225$113,157$112,046
3 years$80,410$78,131$75,938$73,826$71,791$70,704
4 years$59,706$57,435$55,263$53,187$51,202$50,148
5 years$47,287$45,029$42,886$40,853$38,923$37,904
6 years$39,011$36,770$34,659$32,670$30,799$29,816
7 years$33,101$30,879$28,801$26,860$25,047$24,103
8 years$28,671$26,469$24,426$22,532$20,779$19,872
9 years$25,228$23,046$21,038$19,193$17,499$16,629
10 years$22,474$20,314$18,341$16,544$14,910$14,077
11 years$20,223$18,084$16,148$14,398$12,823$12,026
12 years$18,348$16,232$14,331$12,629$11,112$10,351
13 years$16,763$14,669$12,803$11,150$9,690$8,964
14 years$15,405$13,333$11,504$9,898$8,494$7,802
15 years$14,230$12,180$10,386$8,827$7,479$6,820
16 years$13,203$11,175$9,417$7,903$6,610$5,983
17 years$12,297$10,292$8,569$7,101$5,861$5,266
18 years$11,493$9,510$7,822$6,400$5,211$4,646
19 years$10,774$8,814$7,161$5,783$4,645$4,110
20 years$10,128$8,190$6,572$5,237$4,149$3,642
21 years$9,544$7,629$6,045$4,753$3,713$3,233
22 years$9,014$7,121$5,571$4,322$3,328$2,875
23 years$8,531$6,661$5,144$3,936$2,987$2,560
24 years$8,089$6,240$4,757$3,590$2,685$2,282
25 years$7,683$5,856$4,406$3,278$2,416$2,036
26 years$7,309$5,504$4,087$2,998$2,176$1,819
27 years$6,963$5,180$3,795$2,744$1,962$1,626
28 years$6,642$4,881$3,528$2,514$1,771$1,454
29 years$6,344$4,605$3,283$2,305$1,599$1,302
30 years$6,066$4,349$3,058$2,116$1,445$1,166
31 years$5,807$4,111$2,851$1,943$1,306$1,045
32 years$5,564$3,890$2,660$1,786$1,181$937
33 years$5,337$3,684$2,484$1,642$1,069$840
34 years$5,123$3,491$2,320$1,511$968$754
35 years$4,922$3,311$2,169$1,391$877$676
36 years$4,733$3,143$2,029$1,281$794$607
37 years$4,554$2,985$1,900$1,180$720$545
38 years$4,385$2,837$1,779$1,088$653$490
39 years$4,226$2,698$1,667$1,003$592$440
40 years$4,074$2,567$1,562$925$537$395
41 years$3,930$2,443$1,465$854$487$355
42 years$3,794$2,327$1,374$788$442$319
43 years$3,664$2,217$1,289$727$401$287
44 years$3,541$2,113$1,210$671$364$258
45 years$3,423$2,015$1,136$620$331$232
46 years$3,311$1,922$1,067$573$300$209
47 years$3,204$1,835$1,003$529$273$188
48 years$3,101$1,751$942$489$247$169
49 years$3,003$1,672$886$452$225$152
50 years$2,910$1,598$833$418$204$137

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,980,000, adding $5,931 every year, while hoping to spend $50,810 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: 49/43/8 Blend
50$2,980,000$2,980,000$2,980,000$2,980,000
51$3,290,078$3,132,138$3,085,948$3,444,085
52$3,571,604$3,231,551$3,135,266$3,649,460
53$3,880,144$3,334,133$3,184,533$3,866,536
54$4,218,397$3,439,984$3,233,694$4,101,127
55$4,589,341$3,549,211$3,282,689$4,354,882
56$4,996,252$3,661,920$3,331,458$4,629,616
57$5,442,740$3,778,225$3,379,932$4,927,322
58$5,932,781$3,898,239$3,428,041$5,250,193
59$6,470,755$4,022,083$3,475,711$5,600,644
60$7,061,487$4,149,880$3,522,862$5,981,327
61$7,710,291$4,281,756$3,569,410$6,395,163
62$8,423,021$4,417,843$3,615,266$6,845,365
63$9,206,128$4,558,276$3,660,336$7,335,470
64$10,066,717$4,703,195$3,704,521$7,869,369
65$11,012,614$4,852,745$3,747,715$8,451,345
66$12,052,445$5,007,073$3,789,808$9,086,114
67$13,195,710$5,166,335$3,830,682$9,778,866
68$14,452,876$5,330,689$3,870,213$10,535,314
69$15,835,476$5,500,300$3,908,272$11,361,749
70$17,356,215$5,675,335$3,944,720$12,265,098
71$19,029,095$5,855,972$3,979,413$13,252,987
72$20,869,538$6,042,390$4,012,199$14,333,814
73$22,894,539$6,234,776$4,042,917$15,516,827
74$25,122,825$6,433,323$4,071,397$16,812,211
75$27,575,027$6,638,229$4,097,462$18,231,181
76$30,273,878$6,849,701$4,120,926$19,786,092
77$33,244,426$7,067,949$4,141,590$21,490,547
78$36,514,274$7,293,195$4,159,249$23,359,533
79$40,113,831$7,525,663$4,173,685$25,409,556
80$44,076,609$7,765,587$4,184,671$27,658,798
81$48,439,532$8,013,210$4,191,967$30,127,287
82$53,243,288$8,268,781$4,195,321$32,837,085
83$58,532,708$8,532,556$4,194,469$35,812,495
84$64,357,195$8,804,802$4,189,135$39,080,292
85$70,771,186$9,085,794$4,179,028$42,669,969
86$77,834,665$9,375,816$4,163,843$46,614,020
87$85,613,731$9,675,161$4,143,261$50,948,244
88$94,181,219$9,984,131$4,116,948$55,712,080
89$103,617,389$10,303,040$4,084,552$60,948,978
90$114,010,685$10,632,211$4,045,706$66,706,813
91$125,458,562$10,971,977$4,000,025$73,038,327
92$138,068,415$11,322,683$3,947,105$80,001,634
93$151,958,585$11,684,686$3,886,525$87,660,762
94$167,259,479$12,058,354$3,817,842$96,086,258
95$184,114,799$12,444,066$3,740,593$105,355,852
96$202,682,899$12,842,217$3,654,294$115,555,190
97$223,138,281$13,253,211$3,558,438$126,778,639
98$245,673,235$13,677,468$3,452,495$139,130,181
99$270,499,662$14,115,421$3,335,911$152,724,387
100$297,851,070$14,567,519$3,208,106$167,687,500