Can I retire at age 51 with 980,000?

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 $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%11.8%
1 years$80,927$80,207$79,503$78,817$78,147$77,557
2 years$40,063$39,317$38,594$37,893$37,213$36,618
3 years$26,443$25,694$24,973$24,278$23,609$23,028
4 years$19,635$18,888$18,174$17,491$16,838$16,275
5 years$15,551$14,808$14,104$13,435$12,800$12,257
6 years$12,829$12,092$11,398$10,744$10,128$9,605
7 years$10,886$10,155$9,472$8,833$8,237$7,735
8 years$9,429$8,705$8,033$7,410$6,833$6,352
9 years$8,296$7,579$6,919$6,312$5,755$5,294
10 years$7,391$6,680$6,032$5,441$4,903$4,462
11 years$6,650$5,947$5,310$4,735$4,217$3,796
12 years$6,034$5,338$4,713$4,153$3,654$3,253
13 years$5,513$4,824$4,211$3,667$3,187$2,804
14 years$5,066$4,385$3,783$3,255$2,793$2,430
15 years$4,680$4,006$3,416$2,903$2,460$2,114
16 years$4,342$3,675$3,097$2,599$2,174$1,846
17 years$4,044$3,385$2,818$2,335$1,927$1,617
18 years$3,779$3,128$2,572$2,105$1,714$1,420
19 years$3,543$2,899$2,355$1,902$1,528$1,249
20 years$3,331$2,693$2,161$1,722$1,364$1,102
21 years$3,139$2,509$1,988$1,563$1,221$973
22 years$2,964$2,342$1,832$1,421$1,094$861
23 years$2,806$2,190$1,692$1,294$982$762
24 years$2,660$2,052$1,565$1,181$883$676
25 years$2,527$1,926$1,449$1,078$795$600
26 years$2,403$1,810$1,344$986$716$533
27 years$2,290$1,703$1,248$902$645$474
28 years$2,184$1,605$1,160$827$582$421
29 years$2,086$1,514$1,080$758$526$375
30 years$1,995$1,430$1,006$696$475$334
31 years$1,910$1,352$938$639$430$298
32 years$1,830$1,279$875$587$389$265
33 years$1,755$1,211$817$540$352$237
34 years$1,685$1,148$763$497$318$211
35 years$1,619$1,089$713$457$288$188
36 years$1,556$1,034$667$421$261$168
37 years$1,498$982$625$388$237$150
38 years$1,442$933$585$358$215$134
39 years$1,390$887$548$330$195$120
40 years$1,340$844$514$304$177$107
41 years$1,293$803$482$281$160$95
42 years$1,248$765$452$259$145$85
43 years$1,205$729$424$239$132$76
44 years$1,164$695$398$221$120$68
45 years$1,126$663$374$204$109$61
46 years$1,089$632$351$188$99$54
47 years$1,054$603$330$174$90$49
48 years$1,020$576$310$161$81$43
49 years$988$550$291$149$74$39
50 years$957$525$274$137$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $980,000, adding $4,782 every year, while hoping to spend $45,026 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: 39/39/22 Blend
50$980,000$980,000$980,000$980,000
51$1,084,893$1,032,953$1,017,763$1,119,938
52$1,147,644$1,035,660$1,003,950$1,148,376
53$1,215,288$1,036,991$988,166$1,174,503
54$1,288,274$1,036,830$970,297$1,201,846
55$1,367,099$1,035,057$950,223$1,230,540
56$1,452,309$1,031,539$927,821$1,260,738
57$1,544,501$1,026,142$902,959$1,292,613
58$1,644,334$1,018,717$875,503$1,326,356
59$1,752,533$1,009,111$845,309$1,362,183
60$1,869,893$997,159$812,229$1,400,335
61$1,997,290$982,688$776,106$1,441,082
62$2,135,687$965,512$736,779$1,484,726
63$2,286,142$945,437$694,076$1,531,603
64$2,449,820$922,256$647,820$1,582,088
65$2,628,005$895,749$597,824$1,636,602
66$2,822,106$865,685$543,896$1,695,611
67$3,033,675$831,819$485,831$1,759,637
68$3,264,422$793,890$423,418$1,829,258
69$3,516,226$751,624$356,436$1,905,121
70$3,791,158$704,729$284,653$1,987,945
71$4,091,495$652,900$207,828$2,078,527
72$4,419,746$595,811$125,709$2,177,756
73$4,778,673$533,119$38,033$2,286,618
74$5,171,316$464,460$0$2,406,210
75$5,601,023$389,451$0$2,550,784
76$6,071,480$307,687$0$2,719,031
77$6,586,747$218,739$0$2,903,581
78$7,151,295$122,157$0$3,106,172
79$7,770,046$17,462$0$3,328,723
80$8,448,424$0$0$3,573,358
81$9,192,400$0$0$3,883,559
82$10,008,552$0$0$4,232,209
83$10,904,125$0$0$4,614,927
84$11,887,100$0$0$5,035,139
85$12,966,267$0$0$5,496,622
86$14,151,310$0$0$6,003,535
87$15,452,895$0$0$6,560,460
88$16,882,773$0$0$7,172,445
89$18,453,890$0$0$7,845,052
90$20,180,507$0$0$8,584,406
91$22,078,335$0$0$9,397,259
92$24,164,683$0$0$10,291,045
93$26,458,620$0$0$11,273,958
94$28,981,157$0$0$12,355,025
95$31,755,442$0$0$13,544,191
96$34,806,977$0$0$14,852,415
97$38,163,861$0$0$16,291,768
98$41,857,055$0$0$17,875,555
99$45,920,670$0$0$19,618,431
100$50,392,290$0$0$21,536,548