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%19.2%
1 years$80,927$80,207$79,503$78,817$78,147$75,254
2 years$40,063$39,317$38,594$37,893$37,213$34,331
3 years$26,443$25,694$24,973$24,278$23,609$20,830
4 years$19,635$18,888$18,174$17,491$16,838$14,181
5 years$15,551$14,808$14,104$13,435$12,800$10,273
6 years$12,829$12,092$11,398$10,744$10,128$7,733
7 years$10,886$10,155$9,472$8,833$8,237$5,972
8 years$9,429$8,705$8,033$7,410$6,833$4,698
9 years$8,296$7,579$6,919$6,312$5,755$3,745
10 years$7,391$6,680$6,032$5,441$4,903$3,016
11 years$6,650$5,947$5,310$4,735$4,217$2,448
12 years$6,034$5,338$4,713$4,153$3,654$1,999
13 years$5,513$4,824$4,211$3,667$3,187$1,640
14 years$5,066$4,385$3,783$3,255$2,793$1,351
15 years$4,680$4,006$3,416$2,903$2,460$1,117
16 years$4,342$3,675$3,097$2,599$2,174$925
17 years$4,044$3,385$2,818$2,335$1,927$768
18 years$3,779$3,128$2,572$2,105$1,714$639
19 years$3,543$2,899$2,355$1,902$1,528$532
20 years$3,331$2,693$2,161$1,722$1,364$444
21 years$3,139$2,509$1,988$1,563$1,221$371
22 years$2,964$2,342$1,832$1,421$1,094$310
23 years$2,806$2,190$1,692$1,294$982$259
24 years$2,660$2,052$1,565$1,181$883$217
25 years$2,527$1,926$1,449$1,078$795$181
26 years$2,403$1,810$1,344$986$716$152
27 years$2,290$1,703$1,248$902$645$127
28 years$2,184$1,605$1,160$827$582$106
29 years$2,086$1,514$1,080$758$526$89
30 years$1,995$1,430$1,006$696$475$75
31 years$1,910$1,352$938$639$430$63
32 years$1,830$1,279$875$587$389$53
33 years$1,755$1,211$817$540$352$44
34 years$1,685$1,148$763$497$318$37
35 years$1,619$1,089$713$457$288$31
36 years$1,556$1,034$667$421$261$26
37 years$1,498$982$625$388$237$22
38 years$1,442$933$585$358$215$18
39 years$1,390$887$548$330$195$15
40 years$1,340$844$514$304$177$13
41 years$1,293$803$482$281$160$11
42 years$1,248$765$452$259$145$9
43 years$1,205$729$424$239$132$8
44 years$1,164$695$398$221$120$6
45 years$1,126$663$374$204$109$5
46 years$1,089$632$351$188$99$4
47 years$1,054$603$330$174$90$4
48 years$1,020$576$310$161$81$3
49 years$988$550$291$149$74$3
50 years$957$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $980,000, adding $2,846 every year, while hoping to spend $35,583 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: 57/22/21 Blend
50$980,000$980,000$980,000$980,000
51$1,082,896$1,030,956$1,015,766$1,138,368
52$1,155,491$1,043,612$1,011,934$1,189,156
53$1,234,298$1,055,697$1,006,781$1,240,419
54$1,319,914$1,067,143$1,000,225$1,295,510
55$1,412,994$1,077,882$992,181$1,354,805
56$1,514,258$1,087,837$982,559$1,418,722
57$1,624,502$1,096,930$971,264$1,487,721
58$1,744,598$1,105,077$958,198$1,562,308
59$1,875,507$1,112,186$943,257$1,643,044
60$2,018,287$1,118,161$926,335$1,730,549
61$2,174,103$1,122,901$907,317$1,825,505
62$2,344,234$1,126,297$886,086$1,928,667
63$2,530,094$1,128,232$862,517$2,040,868
64$2,733,233$1,128,586$836,481$2,163,026
65$2,955,362$1,127,226$807,842$2,296,156
66$3,198,364$1,124,014$776,460$2,441,378
67$3,464,310$1,118,805$742,185$2,599,929
68$3,755,484$1,111,441$704,862$2,773,171
69$4,074,400$1,101,757$664,331$2,962,612
70$4,423,823$1,089,578$620,421$3,169,912
71$4,806,804$1,074,718$572,956$3,396,905
72$5,226,700$1,056,981$521,752$3,645,615
73$5,687,207$1,036,156$466,614$3,918,273
74$6,192,398$1,012,024$407,342$4,217,344
75$6,746,759$984,350$343,724$4,545,546
76$7,355,231$952,886$275,542$4,905,878
77$8,023,257$917,370$202,565$5,301,647
78$8,756,832$877,524$124,554$5,736,505
79$9,562,561$833,054$41,258$6,214,478
80$10,447,719$783,651$0$6,740,007
81$11,420,321$728,984$0$7,328,665
82$12,489,196$668,707$0$7,985,745
83$13,664,073$602,453$0$8,708,015
84$14,955,669$529,833$0$9,502,119
85$16,375,789$450,437$0$10,375,376
86$17,937,444$363,832$0$11,335,859
87$19,654,963$269,560$0$12,392,463
88$21,544,139$167,138$0$13,554,994
89$23,622,368$56,055$0$14,834,263
90$25,908,819$0$0$16,242,186
91$28,424,613$0$0$17,807,445
92$31,193,020$0$0$19,544,906
93$34,239,682$0$0$21,457,103
94$37,592,849$0$0$23,561,780
95$41,283,652$0$0$25,878,489
96$45,346,392$0$0$28,428,776
97$49,818,863$0$0$31,236,378
98$54,742,711$0$0$34,327,453
99$60,163,825$0$0$37,730,824
100$66,132,769$0$0$41,478,252