Can I retire at age 51 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$81,588$80,861$80,152$79,460$78,785$77,897
2 years$40,390$39,638$38,909$38,202$37,516$36,623
3 years$26,659$25,904$25,177$24,476$23,802$22,930
4 years$19,795$19,042$18,322$17,634$16,976$16,133
5 years$15,678$14,929$14,219$13,545$12,905$12,092
6 years$12,934$12,191$11,491$10,832$10,211$9,431
7 years$10,975$10,238$9,549$8,905$8,304$7,556
8 years$9,506$8,776$8,098$7,470$6,889$6,173
9 years$8,364$7,641$6,975$6,363$5,802$5,118
10 years$7,451$6,735$6,081$5,485$4,943$4,291
11 years$6,705$5,996$5,354$4,774$4,251$3,630
12 years$6,083$5,382$4,751$4,187$3,684$3,093
13 years$5,558$4,863$4,245$3,697$3,213$2,651
14 years$5,108$4,421$3,814$3,281$2,816$2,283
15 years$4,718$4,038$3,444$2,926$2,480$1,975
16 years$4,377$3,705$3,122$2,620$2,192$1,714
17 years$4,077$3,412$2,841$2,354$1,943$1,491
18 years$3,810$3,153$2,593$2,122$1,728$1,301
19 years$3,572$2,922$2,374$1,917$1,540$1,138
20 years$3,358$2,715$2,179$1,736$1,376$997
21 years$3,164$2,529$2,004$1,576$1,231$874
22 years$2,989$2,361$1,847$1,433$1,103$768
23 years$2,829$2,208$1,706$1,305$990$676
24 years$2,682$2,069$1,577$1,190$890$595
25 years$2,547$1,942$1,461$1,087$801$524
26 years$2,423$1,825$1,355$994$722$463
27 years$2,308$1,717$1,258$910$651$408
28 years$2,202$1,618$1,170$833$587$361
29 years$2,103$1,527$1,088$764$530$319
30 years$2,011$1,442$1,014$701$479$282
31 years$1,925$1,363$945$644$433$249
32 years$1,845$1,290$882$592$392$220
33 years$1,769$1,221$823$544$354$195
34 years$1,699$1,158$769$501$321$173
35 years$1,632$1,098$719$461$291$153
36 years$1,569$1,042$673$425$263$136
37 years$1,510$990$630$391$239$120
38 years$1,454$941$590$361$216$106
39 years$1,401$894$553$333$196$94
40 years$1,351$851$518$307$178$84
41 years$1,303$810$486$283$161$74
42 years$1,258$771$456$261$147$66
43 years$1,215$735$427$241$133$58
44 years$1,174$701$401$223$121$52
45 years$1,135$668$377$206$110$46
46 years$1,098$637$354$190$100$41
47 years$1,062$608$332$175$90$36
48 years$1,028$581$312$162$82$32
49 years$996$554$294$150$75$28
50 years$965$530$276$138$68$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $988,000, adding $4,171 every year, while hoping to spend $43,566 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: 52/26/22 Blend
50$988,000$988,000$988,000$988,000
51$1,093,078$1,040,714$1,025,400$1,143,053
52$1,158,218$1,045,356$1,013,397$1,182,623
53$1,228,543$1,048,764$999,532$1,220,805
54$1,304,534$1,050,833$983,696$1,261,425
55$1,386,723$1,051,450$965,776$1,304,730
56$1,475,692$1,050,495$945,654$1,350,994
57$1,572,083$1,047,840$923,204$1,400,523
58$1,676,602$1,043,350$898,297$1,453,653
59$1,790,022$1,036,881$870,797$1,510,759
60$1,913,197$1,028,281$840,561$1,572,255
61$2,047,064$1,017,388$807,441$1,638,602
62$2,192,656$1,004,031$771,281$1,710,309
63$2,351,106$988,028$731,919$1,787,939
64$2,523,665$969,188$689,185$1,872,117
65$2,711,707$947,306$642,900$1,963,536
66$2,916,744$922,166$592,880$2,062,960
67$3,140,440$893,541$538,930$2,171,238
68$3,384,628$861,187$480,847$2,289,307
69$3,651,325$824,851$418,420$2,418,206
70$3,942,751$784,260$351,429$2,559,083
71$4,261,352$739,128$279,641$2,713,209
72$4,609,817$689,152$202,816$2,881,988
73$4,991,110$634,013$120,703$3,066,974
74$5,408,495$573,371$33,038$3,269,885
75$5,865,564$506,869$0$3,492,621
76$6,366,275$434,128$0$3,751,486
77$6,914,984$354,750$0$4,043,795
78$7,516,491$268,311$0$4,364,418
79$8,176,082$174,367$0$4,716,263
80$8,899,577$72,446$0$5,102,537
81$9,693,389$0$0$5,526,777
82$10,564,581$0$0$6,003,745
83$11,520,932$0$0$6,550,192
84$12,571,012$0$0$7,150,299
85$13,724,261$0$0$7,809,475
86$14,991,077$0$0$8,533,677
87$16,382,918$0$0$9,329,468
88$17,912,404$0$0$10,204,078
89$19,593,437$0$0$11,165,473
90$21,441,335$0$0$12,222,429
91$23,472,975$0$0$13,384,614
92$25,706,947$0$0$14,662,680
93$28,163,736$0$0$16,068,362
94$30,865,910$0$0$17,614,593
95$33,838,334$0$0$19,315,617
96$37,108,404$0$0$21,187,132
97$40,706,306$0$0$23,246,434
98$44,665,299$0$0$25,512,578
99$49,022,028$0$0$28,006,562
100$53,816,870$0$0$30,751,520