Can I retire at age 51 with 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 $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%14.1%
1 years$80,927$80,207$79,503$78,817$78,147$76,820
2 years$40,063$39,317$38,594$37,893$37,213$35,881
3 years$26,443$25,694$24,973$24,278$23,609$22,313
4 years$19,635$18,888$18,174$17,491$16,838$15,588
5 years$15,551$14,808$14,104$13,435$12,800$11,599
6 years$12,829$12,092$11,398$10,744$10,128$8,977
7 years$10,886$10,155$9,472$8,833$8,237$7,137
8 years$9,429$8,705$8,033$7,410$6,833$5,784
9 years$8,296$7,579$6,919$6,312$5,755$4,756
10 years$7,391$6,680$6,032$5,441$4,903$3,953
11 years$6,650$5,947$5,310$4,735$4,217$3,315
12 years$6,034$5,338$4,713$4,153$3,654$2,800
13 years$5,513$4,824$4,211$3,667$3,187$2,378
14 years$5,066$4,385$3,783$3,255$2,793$2,029
15 years$4,680$4,006$3,416$2,903$2,460$1,738
16 years$4,342$3,675$3,097$2,599$2,174$1,494
17 years$4,044$3,385$2,818$2,335$1,927$1,287
18 years$3,779$3,128$2,572$2,105$1,714$1,112
19 years$3,543$2,899$2,355$1,902$1,528$962
20 years$3,331$2,693$2,161$1,722$1,364$834
21 years$3,139$2,509$1,988$1,563$1,221$724
22 years$2,964$2,342$1,832$1,421$1,094$629
23 years$2,806$2,190$1,692$1,294$982$548
24 years$2,660$2,052$1,565$1,181$883$477
25 years$2,527$1,926$1,449$1,078$795$416
26 years$2,403$1,810$1,344$986$716$363
27 years$2,290$1,703$1,248$902$645$317
28 years$2,184$1,605$1,160$827$582$276
29 years$2,086$1,514$1,080$758$526$242
30 years$1,995$1,430$1,006$696$475$211
31 years$1,910$1,352$938$639$430$185
32 years$1,830$1,279$875$587$389$161
33 years$1,755$1,211$817$540$352$141
34 years$1,685$1,148$763$497$318$124
35 years$1,619$1,089$713$457$288$108
36 years$1,556$1,034$667$421$261$95
37 years$1,498$982$625$388$237$83
38 years$1,442$933$585$358$215$73
39 years$1,390$887$548$330$195$64
40 years$1,340$844$514$304$177$56
41 years$1,293$803$482$281$160$49
42 years$1,248$765$452$259$145$43
43 years$1,205$729$424$239$132$37
44 years$1,164$695$398$221$120$33
45 years$1,126$663$374$204$109$29
46 years$1,089$632$351$188$99$25
47 years$1,054$603$330$174$90$22
48 years$1,020$576$310$161$81$19
49 years$988$550$291$149$74$17
50 years$957$525$274$137$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $980,000, adding $5,809 every year, while hoping to spend $45,407 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: 65/27/8 Blend
50$980,000$980,000$980,000$980,000
51$1,085,952$1,034,012$1,018,822$1,154,474
52$1,148,406$1,036,366$1,004,640$1,203,169
53$1,215,709$1,037,313$988,461$1,250,434
54$1,288,307$1,036,737$970,170$1,300,889
55$1,366,691$1,034,514$949,647$1,354,842
56$1,451,400$1,030,511$926,766$1,412,631
57$1,543,026$1,024,590$901,396$1,474,629
58$1,642,221$1,016,601$873,399$1,541,251
59$1,749,700$1,006,387$842,631$1,612,953
60$1,866,252$993,782$808,942$1,690,239
61$1,992,742$978,610$772,173$1,773,666
62$2,130,121$960,681$732,161$1,863,851
63$2,279,438$939,800$688,733$1,961,472
64$2,441,845$915,754$641,710$2,067,282
65$2,618,610$888,322$590,903$2,182,110
66$2,811,126$857,269$536,117$2,306,872
67$3,020,931$822,344$477,146$2,442,580
68$3,249,711$783,285$413,777$2,590,353
69$3,499,328$739,812$345,784$2,751,425
70$3,771,828$691,631$272,936$2,927,158
71$4,069,463$638,429$194,988$3,119,060
72$4,394,713$579,877$111,685$3,328,791
73$4,750,308$515,626$22,761$3,558,187
74$5,139,256$445,308$0$3,809,274
75$5,564,866$368,533$0$4,090,447
76$6,030,781$284,891$0$4,400,491
77$6,541,017$193,947$0$4,740,213
78$7,099,992$95,242$0$5,112,649
79$7,712,575$0$0$5,521,148
80$8,384,124$0$0$5,972,885
81$9,120,545$0$0$6,499,354
82$9,928,340$0$0$7,076,917
83$10,814,671$0$0$7,710,701
84$11,787,428$0$0$8,406,357
85$12,855,300$0$0$9,170,110
86$14,027,861$0$0$10,008,813
87$15,315,654$0$0$10,930,020
88$16,730,295$0$0$11,942,049
89$18,284,583$0$0$13,054,067
90$19,992,613$0$0$14,276,168
91$21,869,917$0$0$15,619,478
92$23,933,604$0$0$17,096,250
93$26,202,526$0$0$18,719,986
94$28,697,450$0$0$20,505,561
95$31,441,258$0$0$22,469,362
96$34,459,160$0$0$24,629,446
97$37,778,930$0$0$27,005,708
98$41,431,173$0$0$29,620,066
99$45,449,606$0$0$32,496,672
100$49,871,382$0$0$35,662,135