Can I retire at age 51 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$81,175$80,452$79,747$79,058$78,386$77,957
2 years$40,186$39,437$38,712$38,009$37,327$36,894
3 years$26,524$25,773$25,049$24,353$23,682$23,259
4 years$19,695$18,946$18,229$17,545$16,890$16,480
5 years$15,599$14,854$14,147$13,476$12,839$12,443
6 years$12,868$12,129$11,433$10,777$10,159$9,778
7 years$10,919$10,186$9,501$8,860$8,262$7,895
8 years$9,458$8,731$8,057$7,433$6,854$6,502
9 years$8,322$7,602$6,940$6,331$5,772$5,435
10 years$7,413$6,701$6,050$5,457$4,918$4,595
11 years$6,671$5,965$5,327$4,750$4,230$3,921
12 years$6,052$5,354$4,727$4,166$3,666$3,370
13 years$5,530$4,839$4,223$3,678$3,196$2,915
14 years$5,082$4,398$3,795$3,265$2,802$2,534
15 years$4,694$4,018$3,426$2,912$2,467$2,212
16 years$4,355$3,686$3,106$2,607$2,180$1,938
17 years$4,056$3,395$2,827$2,342$1,933$1,703
18 years$3,791$3,137$2,580$2,111$1,719$1,501
19 years$3,554$2,907$2,362$1,907$1,532$1,326
20 years$3,341$2,702$2,168$1,728$1,369$1,173
21 years$3,148$2,517$1,994$1,568$1,225$1,040
22 years$2,974$2,349$1,838$1,426$1,098$923
23 years$2,814$2,197$1,697$1,298$985$821
24 years$2,668$2,059$1,569$1,184$886$731
25 years$2,534$1,932$1,454$1,081$797$651
26 years$2,411$1,816$1,348$989$718$580
27 years$2,297$1,709$1,252$905$647$518
28 years$2,191$1,610$1,164$829$584$463
29 years$2,093$1,519$1,083$760$527$414
30 years$2,001$1,434$1,009$698$477$370
31 years$1,915$1,356$940$641$431$331
32 years$1,835$1,283$877$589$390$296
33 years$1,760$1,215$819$542$353$265
34 years$1,690$1,152$765$498$319$237
35 years$1,624$1,092$716$459$289$213
36 years$1,561$1,037$669$423$262$191
37 years$1,502$985$627$389$238$171
38 years$1,447$936$587$359$215$153
39 years$1,394$890$550$331$195$138
40 years$1,344$847$515$305$177$123
41 years$1,297$806$483$282$161$111
42 years$1,252$768$453$260$146$99
43 years$1,209$731$425$240$132$89
44 years$1,168$697$399$221$120$80
45 years$1,129$665$375$205$109$72
46 years$1,092$634$352$189$99$64
47 years$1,057$605$331$175$90$58
48 years$1,023$578$311$161$82$52
49 years$991$552$292$149$74$47
50 years$960$527$275$138$67$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $983,000, adding $3,446 every year, while hoping to spend $54,533 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: 39/47/14 Blend
50$983,000$983,000$983,000$983,000
51$1,086,821$1,034,722$1,019,485$1,124,512
52$1,139,654$1,027,400$995,615$1,144,312
53$1,196,048$1,017,892$969,118$1,160,150
54$1,256,309$1,006,033$939,848$1,176,095
55$1,320,772$991,649$907,652$1,192,181
56$1,389,805$974,553$872,372$1,208,452
57$1,463,809$954,551$833,841$1,224,960
58$1,543,228$931,434$791,885$1,241,769
59$1,628,546$904,983$746,322$1,258,952
60$1,720,296$874,965$696,962$1,276,596
61$1,819,061$841,134$643,605$1,294,801
62$1,925,485$803,229$586,046$1,313,686
63$2,040,271$760,974$524,065$1,333,387
64$2,164,195$714,078$457,437$1,354,059
65$2,298,108$662,232$385,926$1,375,882
66$2,442,944$605,111$309,284$1,399,062
67$2,599,731$542,369$227,252$1,423,834
68$2,769,601$473,642$139,562$1,450,465
69$2,953,796$398,546$45,933$1,479,259
70$3,153,681$316,673$0$1,510,560
71$3,370,761$227,594$0$1,552,823
72$3,606,689$130,856$0$1,606,271
73$3,863,282$25,979$0$1,664,580
74$4,142,542$0$0$1,728,360
75$4,446,671$0$0$1,843,570
76$4,778,091$0$0$1,983,881
77$5,139,469$0$0$2,137,000
78$5,533,738$0$0$2,304,186
79$5,964,129$0$0$2,486,825
80$6,434,198$0$0$2,686,444
81$6,947,858$0$0$2,904,721
82$7,509,418$0$0$3,143,506
83$8,123,623$0$0$3,404,837
84$8,795,697$0$0$3,690,955
85$9,531,392$0$0$4,004,330
86$10,337,041$0$0$4,347,682
87$11,219,620$0$0$4,724,005
88$12,186,811$0$0$5,136,598
89$13,247,072$0$0$5,589,095
90$14,409,723$0$0$6,085,495
91$15,685,024$0$0$6,630,208
92$17,084,280$0$0$7,228,086
93$18,619,941$0$0$7,884,479
94$20,305,720$0$0$8,605,276
95$22,156,725$0$0$9,396,967
96$24,189,597$0$0$10,266,700
97$26,422,667$0$0$11,222,350
98$28,876,132$0$0$12,272,592
99$31,572,238$0$0$13,426,984
100$34,535,495$0$0$14,696,055