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%17.1%
1 years$246,086$243,894$241,755$239,668$237,629$230,763
2 years$121,825$119,556$117,357$115,225$113,157$106,293
3 years$80,410$78,131$75,938$73,826$71,791$65,146
4 years$59,706$57,435$55,263$53,187$51,202$44,826
5 years$47,287$45,029$42,886$40,853$38,923$32,834
6 years$39,011$36,770$34,659$32,670$30,799$25,001
7 years$33,101$30,879$28,801$26,860$25,047$19,542
8 years$28,671$26,469$24,426$22,532$20,779$15,563
9 years$25,228$23,046$21,038$19,193$17,499$12,567
10 years$22,474$20,314$18,341$16,544$14,910$10,255
11 years$20,223$18,084$16,148$14,398$12,823$8,437
12 years$18,348$16,232$14,331$12,629$11,112$6,987
13 years$16,763$14,669$12,803$11,150$9,690$5,816
14 years$15,405$13,333$11,504$9,898$8,494$4,862
15 years$14,230$12,180$10,386$8,827$7,479$4,079
16 years$13,203$11,175$9,417$7,903$6,610$3,431
17 years$12,297$10,292$8,569$7,101$5,861$2,894
18 years$11,493$9,510$7,822$6,400$5,211$2,445
19 years$10,774$8,814$7,161$5,783$4,645$2,069
20 years$10,128$8,190$6,572$5,237$4,149$1,754
21 years$9,544$7,629$6,045$4,753$3,713$1,488
22 years$9,014$7,121$5,571$4,322$3,328$1,264
23 years$8,531$6,661$5,144$3,936$2,987$1,074
24 years$8,089$6,240$4,757$3,590$2,685$914
25 years$7,683$5,856$4,406$3,278$2,416$778
26 years$7,309$5,504$4,087$2,998$2,176$662
27 years$6,963$5,180$3,795$2,744$1,962$564
28 years$6,642$4,881$3,528$2,514$1,771$481
29 years$6,344$4,605$3,283$2,305$1,599$410
30 years$6,066$4,349$3,058$2,116$1,445$349
31 years$5,807$4,111$2,851$1,943$1,306$298
32 years$5,564$3,890$2,660$1,786$1,181$254
33 years$5,337$3,684$2,484$1,642$1,069$217
34 years$5,123$3,491$2,320$1,511$968$185
35 years$4,922$3,311$2,169$1,391$877$158
36 years$4,733$3,143$2,029$1,281$794$135
37 years$4,554$2,985$1,900$1,180$720$115
38 years$4,385$2,837$1,779$1,088$653$98
39 years$4,226$2,698$1,667$1,003$592$84
40 years$4,074$2,567$1,562$925$537$72
41 years$3,930$2,443$1,465$854$487$61
42 years$3,794$2,327$1,374$788$442$52
43 years$3,664$2,217$1,289$727$401$45
44 years$3,541$2,113$1,210$671$364$38
45 years$3,423$2,015$1,136$620$331$32
46 years$3,311$1,922$1,067$573$300$28
47 years$3,204$1,835$1,003$529$273$24
48 years$3,101$1,751$942$489$247$20
49 years$3,003$1,672$886$452$225$17
50 years$2,910$1,598$833$418$204$15

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 $2,783 every year, while hoping to spend $24,027 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: 74/19/7 Blend
50$2,980,000$2,980,000$2,980,000$2,980,000
51$3,286,831$3,128,891$3,082,701$3,526,732
52$3,596,523$3,256,642$3,160,407$3,812,841
53$3,936,998$3,389,847$3,239,910$4,122,863
54$4,311,372$3,528,749$3,321,247$4,461,798
55$4,723,074$3,673,601$3,404,451$4,832,498
56$5,175,887$3,824,666$3,489,559$5,238,100
57$5,673,975$3,982,222$3,576,607$5,682,060
58$6,221,927$4,146,558$3,665,630$6,168,181
59$6,824,800$4,317,976$3,756,666$6,700,648
60$7,488,166$4,496,793$3,849,750$7,284,071
61$8,218,164$4,683,341$3,944,921$7,923,525
62$9,021,556$4,877,964$4,042,216$8,624,597
63$9,905,796$5,081,026$4,141,672$9,393,441
64$10,879,097$5,292,905$4,243,327$10,236,830
65$11,950,505$5,513,998$4,347,219$11,162,226
66$13,129,992$5,744,719$4,453,386$12,177,845
67$14,428,544$5,985,503$4,561,867$13,292,735
68$15,858,265$6,236,803$4,672,699$14,516,860
69$17,432,495$6,499,093$4,785,922$15,861,197
70$19,165,933$6,772,872$4,901,574$17,337,833
71$21,074,774$7,058,658$5,019,692$18,960,083
72$23,176,865$7,356,997$5,140,316$20,742,611
73$25,491,871$7,668,456$5,263,483$22,701,571
74$28,041,464$7,993,632$5,389,232$24,854,755
75$30,849,523$8,333,149$5,517,600$27,221,765
76$33,942,359$8,687,659$5,648,625$29,824,191
77$37,348,970$9,057,845$5,782,344$32,685,818
78$41,101,307$9,444,421$5,918,794$35,832,846
79$45,234,579$9,848,136$6,058,012$39,294,139
80$49,787,583$10,269,772$6,200,033$43,101,496
81$54,803,075$10,710,149$6,344,893$47,289,949
82$60,328,168$11,170,126$6,492,626$51,898,090
83$66,414,779$11,650,599$6,643,266$56,968,438
84$73,120,117$12,152,510$6,796,847$62,547,837
85$80,507,228$12,676,841$6,953,399$68,687,898
86$88,645,582$13,224,624$7,112,956$75,445,480
87$97,611,738$13,796,936$7,275,546$82,883,232
88$107,490,057$14,394,908$7,441,198$91,070,177
89$118,373,505$15,019,721$7,609,941$100,082,365
90$130,364,528$15,672,612$7,781,799$110,003,586
91$143,576,018$16,354,879$7,956,798$120,926,163
92$158,132,381$17,067,877$8,134,960$132,951,818
93$174,170,708$17,813,028$8,316,306$146,192,632
94$191,842,074$18,591,819$8,500,855$160,772,099
95$211,312,955$19,405,809$8,688,624$176,826,292
96$232,766,811$20,256,628$8,879,627$194,505,144
97$256,405,809$21,145,985$9,073,877$213,973,859
98$282,452,732$22,075,669$9,271,383$235,414,471
99$311,153,088$23,047,554$9,472,152$259,027,561
100$342,777,421$24,063,603$9,676,187$285,034,143