Can I retire at age 51 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$84,231$83,480$82,748$82,034$81,336$80,253
2 years$41,698$40,922$40,169$39,439$38,732$37,642
3 years$27,523$26,743$25,992$25,269$24,573$23,511
4 years$20,436$19,659$18,916$18,205$17,526$16,499
5 years$16,186$15,413$14,679$13,983$13,323$12,335
6 years$13,353$12,586$11,863$11,182$10,542$9,594
7 years$11,330$10,569$9,858$9,194$8,573$7,666
8 years$9,814$9,060$8,361$7,712$7,112$6,245
9 years$8,635$7,888$7,201$6,569$5,990$5,162
10 years$7,692$6,953$6,278$5,663$5,103$4,315
11 years$6,922$6,190$5,527$4,928$4,389$3,639
12 years$6,280$5,556$4,905$4,323$3,804$3,091
13 years$5,738$5,021$4,382$3,816$3,317$2,640
14 years$5,273$4,564$3,938$3,388$2,907$2,267
15 years$4,871$4,169$3,555$3,021$2,560$1,954
16 years$4,519$3,825$3,223$2,705$2,262$1,690
17 years$4,209$3,523$2,933$2,431$2,006$1,465
18 years$3,934$3,255$2,677$2,190$1,784$1,274
19 years$3,688$3,017$2,451$1,979$1,590$1,110
20 years$3,467$2,803$2,249$1,793$1,420$969
21 years$3,267$2,611$2,069$1,627$1,271$847
22 years$3,085$2,438$1,907$1,479$1,139$741
23 years$2,920$2,280$1,761$1,347$1,023$649
24 years$2,769$2,136$1,628$1,229$919$569
25 years$2,630$2,005$1,508$1,122$827$500
26 years$2,502$1,884$1,399$1,026$745$439
27 years$2,383$1,773$1,299$939$672$386
28 years$2,273$1,671$1,208$860$606$340
29 years$2,171$1,576$1,124$789$547$299
30 years$2,076$1,488$1,047$724$494$263
31 years$1,988$1,407$976$665$447$232
32 years$1,905$1,331$910$611$404$204
33 years$1,827$1,261$850$562$366$180
34 years$1,754$1,195$794$517$331$159
35 years$1,685$1,133$743$476$300$140
36 years$1,620$1,076$695$438$272$123
37 years$1,559$1,022$650$404$246$109
38 years$1,501$971$609$372$223$96
39 years$1,446$923$570$343$203$85
40 years$1,395$879$535$317$184$75
41 years$1,345$836$501$292$167$66
42 years$1,299$796$470$270$151$58
43 years$1,254$759$441$249$137$51
44 years$1,212$723$414$230$125$45
45 years$1,172$690$389$212$113$40
46 years$1,133$658$365$196$103$35
47 years$1,097$628$343$181$93$31
48 years$1,061$599$323$167$85$28
49 years$1,028$572$303$155$77$24
50 years$996$547$285$143$70$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,020,000, adding $6,618 every year, while hoping to spend $43,635 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: 53/25/22 Blend
50$1,020,000$1,020,000$1,020,000$1,020,000
51$1,130,866$1,076,806$1,060,996$1,183,622
52$1,199,788$1,083,143$1,050,113$1,226,987
53$1,274,276$1,088,327$1,037,402$1,269,070
54$1,354,854$1,092,257$1,022,756$1,313,944
55$1,442,095$1,094,823$1,006,064$1,361,890
56$1,536,629$1,095,910$987,208$1,413,220
57$1,639,150$1,095,394$966,064$1,468,278
58$1,750,421$1,093,146$942,505$1,527,446
59$1,871,279$1,089,026$916,394$1,591,147
60$2,002,648$1,082,887$887,592$1,659,850
61$2,145,543$1,074,572$855,951$1,734,072
62$2,301,079$1,063,917$821,316$1,814,388
63$2,470,486$1,050,746$783,527$1,901,432
64$2,655,115$1,034,872$742,415$1,995,908
65$2,856,455$1,016,099$697,803$2,098,592
66$3,076,142$994,217$649,509$2,210,344
67$3,315,980$969,005$597,339$2,332,117
68$3,577,953$940,229$541,093$2,464,961
69$3,864,245$907,641$480,560$2,610,040
70$4,177,260$870,978$415,521$2,768,640
71$4,519,648$829,963$345,748$2,942,183
72$4,894,323$784,302$271,002$3,132,240
73$5,304,495$733,684$191,032$3,340,548
74$5,753,700$677,781$105,578$3,569,027
75$6,245,830$616,245$14,367$3,819,798
76$6,785,173$548,709$0$4,095,203
77$7,376,451$474,786$0$4,417,309
78$8,024,863$394,065$0$4,774,364
79$8,736,138$306,113$0$5,166,222
80$9,516,584$210,472$0$5,596,448
81$10,373,151$106,660$0$6,068,974
82$11,313,492$0$0$6,588,136
83$12,346,040$0$0$7,160,321
84$13,480,083$0$0$7,821,079
85$14,725,853$0$0$8,547,043
86$16,094,621$0$0$9,344,793
87$17,598,806$0$0$10,221,581
88$19,252,088$0$0$11,185,396
89$21,069,538$0$0$12,245,037
90$23,067,760$0$0$13,410,203
91$25,265,049$0$0$14,691,575
92$27,681,559$0$0$16,100,922
93$30,339,496$0$0$17,651,214
94$33,263,327$0$0$19,356,737
95$36,480,009$0$0$21,233,235
96$40,019,243$0$0$23,298,051
97$43,913,754$0$0$25,570,299
98$48,199,601$0$0$28,071,034
99$52,916,513$0$0$30,823,461
100$58,108,268$0$0$33,853,144