Can I retire at age 51 with 950,000?

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 $950,000?

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 years$78,450$77,751$77,070$76,404$75,754$73,595
2 years$38,837$38,113$37,412$36,733$36,073$33,915
3 years$25,634$24,908$24,208$23,535$22,887$20,796
4 years$19,034$18,310$17,617$16,956$16,323$14,317
5 years$15,075$14,355$13,672$13,024$12,408$10,492
6 years$12,436$11,722$11,049$10,415$9,818$7,993
7 years$10,552$9,844$9,182$8,563$7,985$6,252
8 years$9,140$8,438$7,787$7,183$6,624$4,982
9 years$8,042$7,347$6,707$6,118$5,579$4,025
10 years$7,165$6,476$5,847$5,274$4,753$3,286
11 years$6,447$5,765$5,148$4,590$4,088$2,706
12 years$5,849$5,175$4,568$4,026$3,543$2,242
13 years$5,344$4,676$4,082$3,554$3,089$1,868
14 years$4,911$4,251$3,667$3,155$2,708$1,562
15 years$4,536$3,883$3,311$2,814$2,384$1,312
16 years$4,209$3,563$3,002$2,520$2,107$1,104
17 years$3,920$3,281$2,732$2,264$1,868$932
18 years$3,664$3,032$2,494$2,040$1,661$788
19 years$3,435$2,810$2,283$1,843$1,481$667
20 years$3,229$2,611$2,095$1,670$1,323$566
21 years$3,043$2,432$1,927$1,515$1,184$481
22 years$2,874$2,270$1,776$1,378$1,061$408
23 years$2,720$2,123$1,640$1,255$952$347
24 years$2,579$1,989$1,517$1,144$856$296
25 years$2,449$1,867$1,405$1,045$770$252
26 years$2,330$1,755$1,303$956$694$215
27 years$2,220$1,651$1,210$875$626$183
28 years$2,117$1,556$1,125$801$564$156
29 years$2,022$1,468$1,047$735$510$133
30 years$1,934$1,386$975$674$461$114
31 years$1,851$1,311$909$619$416$97
32 years$1,774$1,240$848$569$377$83
33 years$1,701$1,174$792$523$341$71
34 years$1,633$1,113$740$482$309$60
35 years$1,569$1,056$692$443$280$52
36 years$1,509$1,002$647$408$253$44
37 years$1,452$952$606$376$230$38
38 years$1,398$904$567$347$208$32
39 years$1,347$860$531$320$189$27
40 years$1,299$818$498$295$171$23
41 years$1,253$779$467$272$155$20
42 years$1,209$742$438$251$141$17
43 years$1,168$707$411$232$128$15
44 years$1,129$674$386$214$116$13
45 years$1,091$642$362$198$105$11
46 years$1,055$613$340$183$96$9
47 years$1,021$585$320$169$87$8
48 years$989$558$300$156$79$7
49 years$957$533$282$144$72$6
50 years$928$509$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $950,000, adding $5,385 every year, while hoping to spend $54,569 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: 41/30/29 Blend
50$950,000$950,000$950,000$950,000
51$1,052,455$1,002,105$987,380$1,086,447
52$1,101,744$993,147$962,396$1,102,623
53$1,154,232$981,921$934,746$1,114,640
54$1,210,187$968,259$904,284$1,126,617
55$1,269,904$951,981$870,855$1,138,585
56$1,333,704$932,898$834,299$1,150,583
57$1,401,942$910,810$794,448$1,162,656
58$1,475,004$885,504$751,126$1,174,861
59$1,553,316$856,755$704,150$1,187,262
60$1,637,343$824,325$653,328$1,199,940
61$1,727,597$787,962$598,459$1,212,985
62$1,824,639$747,399$539,334$1,226,505
63$1,929,085$702,354$475,735$1,240,624
64$2,041,612$652,530$407,433$1,255,486
65$2,162,964$597,611$334,189$1,271,255
66$2,293,956$537,264$255,754$1,288,122
67$2,435,486$471,137$171,869$1,306,303
68$2,588,540$398,857$82,260$1,326,046
69$2,754,201$320,031$0$1,347,630
70$2,933,662$234,244$0$1,375,513
71$3,128,231$141,058$0$1,433,351
72$3,339,349$40,008$0$1,496,168
73$3,568,600$0$0$1,564,526
74$3,817,727$0$0$1,661,956
75$4,088,646$0$0$1,782,379
76$4,383,467$0$0$1,913,539
77$4,704,510$0$0$2,056,482
78$5,054,327$0$0$2,212,360
79$5,435,730$0$0$2,382,439
80$5,851,811$0$0$2,568,117
81$6,305,973$0$0$2,770,927
82$6,801,964$0$0$2,992,561
83$7,343,909$0$0$3,234,881
84$7,936,348$0$0$3,499,935
85$8,584,283$0$0$3,789,980
86$9,293,217$0$0$4,107,500
87$10,069,213$0$0$4,455,233
88$10,918,944$0$0$4,836,190
89$11,849,763$0$0$5,253,690
90$12,869,764$0$0$5,711,389
91$13,987,861$0$0$6,213,309
92$15,213,873$0$0$6,763,886
93$16,558,616$0$0$7,368,001
94$18,033,999$0$0$8,031,033
95$19,653,143$0$0$8,758,906
96$21,430,500$0$0$9,558,147
97$23,381,988$0$0$10,435,944
98$25,525,143$0$0$11,400,216
99$27,879,284$0$0$12,459,689
100$30,465,690$0$0$13,623,972