Can I retire at age 51 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$77,624$76,933$76,258$75,600$74,957$73,056
2 years$38,428$37,712$37,019$36,346$35,694$33,791
3 years$25,364$24,645$23,953$23,287$22,646$20,800
4 years$18,834$18,117$17,432$16,777$16,151$14,378
5 years$14,916$14,204$13,528$12,886$12,278$10,581
6 years$12,305$11,599$10,933$10,305$9,715$8,097
7 years$10,441$9,740$9,085$8,473$7,901$6,361
8 years$9,044$8,349$7,705$7,108$6,555$5,093
9 years$7,958$7,270$6,636$6,054$5,520$4,135
10 years$7,089$6,408$5,786$5,219$4,703$3,393
11 years$6,379$5,704$5,094$4,542$4,045$2,808
12 years$5,788$5,120$4,520$3,984$3,505$2,339
13 years$5,288$4,627$4,039$3,517$3,057$1,959
14 years$4,859$4,206$3,629$3,122$2,679$1,648
15 years$4,489$3,842$3,276$2,784$2,359$1,391
16 years$4,165$3,525$2,970$2,493$2,085$1,178
17 years$3,879$3,246$2,703$2,240$1,849$1,000
18 years$3,625$3,000$2,467$2,019$1,644$850
19 years$3,399$2,780$2,259$1,824$1,465$725
20 years$3,195$2,584$2,073$1,652$1,309$618
21 years$3,011$2,406$1,907$1,499$1,171$528
22 years$2,843$2,246$1,757$1,363$1,050$452
23 years$2,691$2,101$1,623$1,242$942$387
24 years$2,552$1,968$1,501$1,132$847$331
25 years$2,423$1,847$1,390$1,034$762$284
26 years$2,305$1,736$1,289$946$687$244
27 years$2,196$1,634$1,197$865$619$209
28 years$2,095$1,540$1,113$793$559$179
29 years$2,001$1,452$1,036$727$504$154
30 years$1,913$1,372$965$667$456$132
31 years$1,832$1,297$899$613$412$114
32 years$1,755$1,227$839$563$373$98
33 years$1,683$1,162$783$518$337$84
34 years$1,616$1,101$732$477$305$72
35 years$1,553$1,045$684$439$277$62
36 years$1,493$991$640$404$251$53
37 years$1,437$942$599$372$227$46
38 years$1,383$895$561$343$206$40
39 years$1,333$851$526$316$187$34
40 years$1,285$810$493$292$169$29
41 years$1,240$771$462$269$154$25
42 years$1,197$734$433$248$139$22
43 years$1,156$699$407$229$127$19
44 years$1,117$667$382$212$115$16
45 years$1,080$636$358$196$104$14
46 years$1,044$606$337$181$95$12
47 years$1,011$579$316$167$86$10
48 years$978$552$297$154$78$9
49 years$947$528$279$143$71$8
50 years$918$504$263$132$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $940,000, adding $4,344 every year, while hoping to spend $39,728 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: 28/49/23 Blend
50$940,000$940,000$940,000$940,000
51$1,040,361$990,541$975,971$1,061,885
52$1,104,207$996,807$966,396$1,085,348
53$1,173,235$1,002,049$955,168$1,106,753
54$1,247,929$1,006,174$942,191$1,128,919
55$1,328,826$1,009,084$927,362$1,151,937
56$1,416,513$1,010,676$910,576$1,175,910
57$1,511,637$1,010,839$891,719$1,200,953
58$1,614,908$1,009,454$870,676$1,227,199
59$1,727,109$1,006,398$847,324$1,254,794
60$1,849,101$1,001,538$821,536$1,283,908
61$1,981,829$994,733$793,177$1,314,726
62$2,126,335$985,834$762,108$1,347,462
63$2,283,765$974,684$728,183$1,382,352
64$2,455,380$961,115$691,248$1,419,664
65$2,642,568$944,948$651,144$1,459,697
66$2,846,856$925,997$607,704$1,502,785
67$3,069,926$904,062$560,753$1,549,304
68$3,313,630$878,932$510,108$1,599,674
69$3,580,004$850,383$455,581$1,654,362
70$3,871,292$818,180$396,970$1,713,893
71$4,189,964$782,071$334,070$1,778,851
72$4,538,741$741,793$266,662$1,849,887
73$4,920,617$697,066$194,519$1,927,729
74$5,338,891$647,593$117,406$2,013,186
75$5,797,194$593,061$35,076$2,107,159
76$6,299,527$533,140$0$2,210,651
77$6,850,295$467,480$0$2,337,731
78$7,454,350$395,712$0$2,486,716
79$8,117,037$317,445$0$2,650,435
80$8,844,241$232,266$0$2,830,493
81$9,642,447$139,740$0$3,028,665
82$10,518,797$39,408$0$3,246,919
83$11,481,159$0$0$3,487,432
84$12,538,198$0$0$3,789,936
85$13,699,464$0$0$4,145,772
86$14,975,474$0$0$4,536,936
87$16,377,814$0$0$4,966,999
88$17,919,251$0$0$5,439,899
89$19,613,847$0$0$5,959,972
90$21,477,098$0$0$6,531,996
91$23,526,073$0$0$7,161,236
92$25,779,581$0$0$7,853,492
93$28,258,342$0$0$8,615,156
94$30,985,189$0$0$9,453,268
95$33,985,275$0$0$10,375,588
96$37,286,318$0$0$11,390,664
97$40,918,855$0$0$12,507,916
98$44,916,534$0$0$13,737,722
99$49,316,432$0$0$15,091,521
100$54,159,399$0$0$16,581,911