Can I retire at age 51 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$80,184$79,470$78,773$78,093$77,429$76,178
2 years$39,695$38,956$38,239$37,545$36,871$35,614
3 years$26,201$25,458$24,743$24,055$23,392$22,168
4 years$19,455$18,714$18,007$17,330$16,684$15,502
5 years$15,408$14,672$13,974$13,311$12,683$11,547
6 years$12,711$11,981$11,293$10,645$10,035$8,947
7 years$10,786$10,062$9,385$8,752$8,161$7,121
8 years$9,342$8,625$7,959$7,342$6,771$5,778
9 years$8,220$7,509$6,855$6,254$5,702$4,756
10 years$7,323$6,619$5,976$5,391$4,858$3,959
11 years$6,589$5,893$5,261$4,692$4,178$3,324
12 years$5,979$5,289$4,669$4,115$3,621$2,811
13 years$5,462$4,780$4,172$3,633$3,157$2,390
14 years$5,020$4,345$3,748$3,225$2,768$2,042
15 years$4,637$3,969$3,384$2,876$2,437$1,752
16 years$4,302$3,641$3,068$2,575$2,154$1,508
17 years$4,007$3,354$2,792$2,314$1,910$1,301
18 years$3,745$3,099$2,549$2,085$1,698$1,125
19 years$3,511$2,872$2,333$1,884$1,513$975
20 years$3,300$2,669$2,141$1,707$1,352$847
21 years$3,110$2,486$1,970$1,549$1,210$736
22 years$2,937$2,320$1,815$1,408$1,084$641
23 years$2,780$2,170$1,676$1,282$973$559
24 years$2,636$2,033$1,550$1,170$875$487
25 years$2,503$1,908$1,436$1,068$787$425
26 years$2,381$1,793$1,332$977$709$372
27 years$2,269$1,688$1,237$894$639$325
28 years$2,164$1,590$1,150$819$577$284
29 years$2,067$1,500$1,070$751$521$249
30 years$1,977$1,417$996$689$471$218
31 years$1,892$1,339$929$633$426$191
32 years$1,813$1,267$867$582$385$167
33 years$1,739$1,200$809$535$348$146
34 years$1,669$1,138$756$492$315$128
35 years$1,604$1,079$707$453$286$112
36 years$1,542$1,024$661$417$259$99
37 years$1,484$973$619$385$235$86
38 years$1,429$924$580$354$213$76
39 years$1,377$879$543$327$193$67
40 years$1,328$836$509$301$175$58
41 years$1,281$796$477$278$159$51
42 years$1,236$758$448$257$144$45
43 years$1,194$722$420$237$131$39
44 years$1,154$689$394$219$119$35
45 years$1,115$657$370$202$108$30
46 years$1,079$626$348$187$98$27
47 years$1,044$598$327$172$89$23
48 years$1,010$571$307$159$81$21
49 years$979$545$289$147$73$18
50 years$948$521$271$136$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $971,000, adding $4,752 every year, while hoping to spend $56,961 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: 45/50/5 Blend
50$971,000$971,000$971,000$971,000
51$1,074,944$1,023,481$1,008,430$1,121,638
52$1,123,982$1,013,025$981,607$1,143,807
53$1,176,113$1,000,148$951,975$1,161,511
54$1,231,592$984,671$919,382$1,179,363
55$1,290,699$966,404$883,666$1,197,394
56$1,353,739$945,147$844,658$1,215,642
57$1,421,048$920,687$802,181$1,234,152
58$1,492,994$892,800$756,053$1,252,980
59$1,569,978$861,246$706,080$1,272,190
60$1,652,443$825,774$652,061$1,291,858
61$1,740,873$786,117$593,785$1,312,076
62$1,835,798$741,993$531,033$1,332,946
63$1,937,803$693,104$463,576$1,354,589
64$2,047,527$639,135$391,174$1,377,146
65$2,165,673$579,750$313,577$1,400,778
66$2,293,012$514,599$230,522$1,425,668
67$2,430,394$443,308$141,739$1,452,028
68$2,578,748$365,485$46,941$1,480,098
69$2,739,098$280,712$0$1,510,154
70$2,912,570$188,550$0$1,545,399
71$3,100,400$88,537$0$1,586,155
72$3,303,947$0$0$1,630,331
73$3,524,705$0$0$1,689,303
74$3,764,320$0$0$1,806,282
75$4,024,598$0$0$1,933,450
76$4,307,528$0$0$2,071,791
77$4,615,299$0$0$2,222,389
78$4,950,317$0$0$2,386,434
79$5,315,231$0$0$2,565,240
80$5,712,955$0$0$2,760,248
81$6,146,698$0$0$2,973,047
82$6,619,990$0$0$3,205,387
83$7,136,717$0$0$3,459,192
84$7,701,157$0$0$3,736,581
85$8,318,019$0$0$4,039,886
86$8,992,489$0$0$4,371,678
87$9,730,274$0$0$4,734,783
88$10,537,662$0$0$5,132,317
89$11,421,571$0$0$5,567,709
90$12,389,626$0$0$6,044,735
91$13,450,218$0$0$6,567,555
92$14,612,591$0$0$7,140,750
93$15,886,926$0$0$7,769,366
94$17,284,434$0$0$8,458,958
95$18,817,465$0$0$9,215,647
96$20,499,620$0$0$10,046,176
97$22,345,883$0$0$10,957,971
98$24,372,756$0$0$11,959,212
99$26,598,420$0$0$13,058,910
100$29,042,900$0$0$14,266,994