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

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$246,086$243,894$241,755$239,668$237,629$231,228
2 years$121,825$119,556$117,357$115,225$113,157$106,754
3 years$80,410$78,131$75,938$73,826$71,791$65,586
4 years$59,706$57,435$55,263$53,187$51,202$45,243
5 years$47,287$45,029$42,886$40,853$38,923$33,226
6 years$39,011$36,770$34,659$32,670$30,799$25,370
7 years$33,101$30,879$28,801$26,860$25,047$19,886
8 years$28,671$26,469$24,426$22,532$20,779$15,884
9 years$25,228$23,046$21,038$19,193$17,499$12,865
10 years$22,474$20,314$18,341$16,544$14,910$10,531
11 years$20,223$18,084$16,148$14,398$12,823$8,692
12 years$18,348$16,232$14,331$12,629$11,112$7,222
13 years$16,763$14,669$12,803$11,150$9,690$6,032
14 years$15,405$13,333$11,504$9,898$8,494$5,060
15 years$14,230$12,180$10,386$8,827$7,479$4,260
16 years$13,203$11,175$9,417$7,903$6,610$3,596
17 years$12,297$10,292$8,569$7,101$5,861$3,044
18 years$11,493$9,510$7,822$6,400$5,211$2,581
19 years$10,774$8,814$7,161$5,783$4,645$2,193
20 years$10,128$8,190$6,572$5,237$4,149$1,865
21 years$9,544$7,629$6,045$4,753$3,713$1,589
22 years$9,014$7,121$5,571$4,322$3,328$1,355
23 years$8,531$6,661$5,144$3,936$2,987$1,156
24 years$8,089$6,240$4,757$3,590$2,685$987
25 years$7,683$5,856$4,406$3,278$2,416$844
26 years$7,309$5,504$4,087$2,998$2,176$721
27 years$6,963$5,180$3,795$2,744$1,962$617
28 years$6,642$4,881$3,528$2,514$1,771$528
29 years$6,344$4,605$3,283$2,305$1,599$452
30 years$6,066$4,349$3,058$2,116$1,445$387
31 years$5,807$4,111$2,851$1,943$1,306$331
32 years$5,564$3,890$2,660$1,786$1,181$284
33 years$5,337$3,684$2,484$1,642$1,069$243
34 years$5,123$3,491$2,320$1,511$968$208
35 years$4,922$3,311$2,169$1,391$877$179
36 years$4,733$3,143$2,029$1,281$794$153
37 years$4,554$2,985$1,900$1,180$720$131
38 years$4,385$2,837$1,779$1,088$653$112
39 years$4,226$2,698$1,667$1,003$592$96
40 years$4,074$2,567$1,562$925$537$83
41 years$3,930$2,443$1,465$854$487$71
42 years$3,794$2,327$1,374$788$442$61
43 years$3,664$2,217$1,289$727$401$52
44 years$3,541$2,113$1,210$671$364$45
45 years$3,423$2,015$1,136$620$331$38
46 years$3,311$1,922$1,067$573$300$33
47 years$3,204$1,835$1,003$529$273$28
48 years$3,101$1,751$942$489$247$24
49 years$3,003$1,672$886$452$225$21
50 years$2,910$1,598$833$418$204$18

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 $5,658 every year, while hoping to spend $34,313 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: 61/29/10 Blend
50$2,980,000$2,980,000$2,980,000$2,980,000
51$3,289,796$3,131,856$3,085,666$3,482,647
52$3,588,847$3,248,808$3,152,527$3,729,541
53$3,917,250$3,370,341$3,220,478$3,994,386
54$4,277,965$3,496,643$3,289,519$4,282,518
55$4,674,248$3,627,910$3,359,649$4,596,186
56$5,109,691$3,764,347$3,430,867$4,937,866
57$5,588,247$3,906,167$3,503,168$5,310,280
58$6,114,272$4,053,593$3,576,549$5,716,424
59$6,692,567$4,206,858$3,651,002$6,159,596
60$7,328,419$4,366,205$3,726,521$6,643,422
61$8,027,654$4,531,885$3,803,096$7,171,895
62$8,796,691$4,704,163$3,880,715$7,749,409
63$9,642,601$4,883,315$3,959,367$8,380,800
64$10,573,177$5,069,628$4,039,036$9,071,393
65$11,597,003$5,263,401$4,119,706$9,827,047
66$12,723,537$5,464,949$4,201,356$10,654,215
67$13,963,204$5,674,596$4,283,967$11,560,000
68$15,327,484$5,892,686$4,367,514$12,552,222
69$16,829,033$6,119,572$4,451,971$13,639,494
70$18,481,791$6,355,628$4,537,308$14,831,296
71$20,301,120$6,601,241$4,623,495$16,138,071
72$22,303,948$6,856,815$4,710,496$17,571,318
73$24,508,927$7,122,775$4,798,273$19,143,698
74$26,936,607$7,399,560$4,886,785$20,869,158
75$29,609,635$7,687,633$4,975,986$22,763,056
76$32,552,965$7,987,474$5,065,829$24,842,308
77$35,794,094$8,299,587$5,156,261$27,125,547
78$39,363,321$8,624,496$5,247,225$29,633,294
79$43,294,033$8,962,750$5,338,661$32,388,153
80$47,623,021$9,314,922$5,430,503$35,415,023
81$52,390,825$9,681,609$5,522,680$38,741,332
82$57,642,119$10,063,437$5,615,119$42,397,291
83$63,426,128$10,461,058$5,707,739$46,416,183
84$69,797,099$10,875,156$5,800,454$50,834,672
85$76,814,805$11,306,441$5,893,172$55,693,146
86$84,545,118$11,755,659$5,985,795$61,036,101
87$93,060,621$12,223,588$6,078,221$66,912,557
88$102,441,301$12,711,040$6,170,338$73,376,517
89$112,775,298$13,218,865$6,262,028$80,487,478
90$124,159,739$13,747,950$6,353,167$88,310,988
91$136,701,656$14,299,223$6,443,621$96,919,265
92$150,518,994$14,873,654$6,533,252$106,391,875
93$165,741,724$15,472,256$6,621,908$116,816,479
94$182,513,071$16,096,087$6,709,433$128,289,662
95$200,990,864$16,746,256$6,795,659$140,917,841
96$221,349,029$17,423,919$6,880,410$154,818,266
97$243,779,224$18,130,286$6,963,499$170,120,122
98$268,492,657$18,866,621$7,044,728$186,965,752
99$295,722,070$19,634,248$7,123,888$205,511,991
100$325,723,943$20,434,548$7,200,760$225,931,648