Can I retire at age 51 with 971,000?

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 $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%14%
1 years$80,184$79,470$78,773$78,093$77,429$76,146
2 years$39,695$38,956$38,239$37,545$36,871$35,582
3 years$26,201$25,458$24,743$24,055$23,392$22,138
4 years$19,455$18,714$18,007$17,330$16,684$15,473
5 years$15,408$14,672$13,974$13,311$12,683$11,520
6 years$12,711$11,981$11,293$10,645$10,035$8,921
7 years$10,786$10,062$9,385$8,752$8,161$7,096
8 years$9,342$8,625$7,959$7,342$6,771$5,754
9 years$8,220$7,509$6,855$6,254$5,702$4,734
10 years$7,323$6,619$5,976$5,391$4,858$3,938
11 years$6,589$5,893$5,261$4,692$4,178$3,304
12 years$5,979$5,289$4,669$4,115$3,621$2,792
13 years$5,462$4,780$4,172$3,633$3,157$2,373
14 years$5,020$4,345$3,748$3,225$2,768$2,026
15 years$4,637$3,969$3,384$2,876$2,437$1,737
16 years$4,302$3,641$3,068$2,575$2,154$1,494
17 years$4,007$3,354$2,792$2,314$1,910$1,288
18 years$3,745$3,099$2,549$2,085$1,698$1,113
19 years$3,511$2,872$2,333$1,884$1,513$964
20 years$3,300$2,669$2,141$1,707$1,352$837
21 years$3,110$2,486$1,970$1,549$1,210$727
22 years$2,937$2,320$1,815$1,408$1,084$632
23 years$2,780$2,170$1,676$1,282$973$551
24 years$2,636$2,033$1,550$1,170$875$480
25 years$2,503$1,908$1,436$1,068$787$419
26 years$2,381$1,793$1,332$977$709$366
27 years$2,269$1,688$1,237$894$639$319
28 years$2,164$1,590$1,150$819$577$279
29 years$2,067$1,500$1,070$751$521$244
30 years$1,977$1,417$996$689$471$213
31 years$1,892$1,339$929$633$426$187
32 years$1,813$1,267$867$582$385$163
33 years$1,739$1,200$809$535$348$143
34 years$1,669$1,138$756$492$315$125
35 years$1,604$1,079$707$453$286$110
36 years$1,542$1,024$661$417$259$96
37 years$1,484$973$619$385$235$84
38 years$1,429$924$580$354$213$74
39 years$1,377$879$543$327$193$65
40 years$1,328$836$509$301$175$57
41 years$1,281$796$477$278$159$50
42 years$1,236$758$448$257$144$44
43 years$1,194$722$420$237$131$38
44 years$1,154$689$394$219$119$34
45 years$1,115$657$370$202$108$29
46 years$1,079$626$348$187$98$26
47 years$1,044$598$327$172$89$23
48 years$1,010$571$307$159$81$20
49 years$979$545$289$147$73$17
50 years$948$521$271$136$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $971,000, adding $6,455 every year, while hoping to spend $44,066 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: 42/38/20 Blend
50$971,000$971,000$971,000$971,000
51$1,076,700$1,025,237$1,010,187$1,115,372
52$1,139,638$1,028,588$997,142$1,146,791
53$1,207,518$1,030,626$982,184$1,176,030
54$1,280,799$1,031,241$965,201$1,206,785
55$1,359,983$1,030,314$946,077$1,239,220
56$1,445,622$1,027,721$924,692$1,273,514
57$1,538,325$1,023,328$900,919$1,309,869
58$1,638,759$1,016,996$874,625$1,348,513
59$1,747,659$1,008,575$845,670$1,389,695
60$1,865,831$997,906$813,911$1,433,697
61$1,994,163$984,821$779,195$1,480,832
62$2,133,634$969,143$741,364$1,531,449
63$2,285,316$950,683$700,251$1,585,934
64$2,450,393$929,241$655,684$1,644,720
65$2,630,164$904,605$607,481$1,708,288
66$2,826,062$876,552$555,453$1,777,171
67$3,039,662$844,844$499,402$1,851,964
68$3,272,697$809,231$439,121$1,933,326
69$3,527,076$769,447$374,395$2,021,991
70$3,804,899$725,212$304,999$2,118,771
71$4,108,479$676,227$230,697$2,224,572
72$4,440,362$622,181$151,243$2,340,395
73$4,803,350$562,739$66,382$2,467,352
74$5,200,531$497,552$0$2,606,678
75$5,635,302$426,250$0$2,764,899
76$6,111,406$348,439$0$2,953,824
77$6,632,964$263,706$0$3,161,015
78$7,204,513$171,615$0$3,388,398
79$7,831,053$71,704$0$3,638,100
80$8,518,088$0$0$3,912,476
81$9,271,680$0$0$4,229,395
82$10,098,509$0$0$4,610,135
83$11,005,929$0$0$5,028,114
84$12,002,043$0$0$5,487,080
85$13,095,777$0$0$5,991,164
86$14,296,961$0$0$6,544,912
87$15,616,427$0$0$7,153,336
88$17,066,106$0$0$7,821,957
89$18,659,141$0$0$8,556,854
90$20,410,012$0$0$9,364,728
91$22,334,673$0$0$10,252,960
92$24,450,699$0$0$11,229,682
93$26,777,454$0$0$12,303,854
94$29,336,270$0$0$13,485,347
95$32,150,651$0$0$14,785,037
96$35,246,496$0$0$16,214,907
97$38,652,335$0$0$17,788,161
98$42,399,607$0$0$19,519,345
99$46,522,950$0$0$21,424,489
100$51,060,530$0$0$23,521,254