Can I retire at age 51 with 1,030,000?

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 $1,030,000?

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$85,056$84,299$83,560$82,838$82,134$81,685
2 years$42,107$41,323$40,563$39,826$39,111$38,658
3 years$27,793$27,005$26,247$25,517$24,814$24,371
4 years$20,637$19,852$19,101$18,384$17,697$17,268
5 years$16,344$15,564$14,823$14,120$13,453$13,038
6 years$13,484$12,709$11,979$11,292$10,645$10,245
7 years$11,441$10,673$9,955$9,284$8,657$8,273
8 years$9,910$9,149$8,443$7,788$7,182$6,813
9 years$8,720$7,966$7,272$6,634$6,048$5,694
10 years$7,768$7,021$6,339$5,718$5,154$4,815
11 years$6,990$6,251$5,581$4,977$4,432$4,108
12 years$6,342$5,610$4,953$4,365$3,841$3,532
13 years$5,794$5,070$4,425$3,854$3,349$3,054
14 years$5,325$4,609$3,976$3,421$2,936$2,655
15 years$4,918$4,210$3,590$3,051$2,585$2,318
16 years$4,563$3,863$3,255$2,732$2,285$2,031
17 years$4,250$3,557$2,962$2,454$2,026$1,785
18 years$3,972$3,287$2,704$2,212$1,801$1,573
19 years$3,724$3,046$2,475$1,999$1,605$1,389
20 years$3,501$2,831$2,272$1,810$1,434$1,229
21 years$3,299$2,637$2,089$1,643$1,283$1,090
22 years$3,116$2,461$1,926$1,494$1,150$967
23 years$2,949$2,302$1,778$1,360$1,033$860
24 years$2,796$2,157$1,644$1,241$928$765
25 years$2,655$2,024$1,523$1,133$835$682
26 years$2,526$1,902$1,413$1,036$752$608
27 years$2,407$1,790$1,312$948$678$543
28 years$2,296$1,687$1,219$869$612$485
29 years$2,193$1,592$1,135$797$553$433
30 years$2,097$1,503$1,057$731$499$387
31 years$2,007$1,421$985$672$451$347
32 years$1,923$1,344$919$617$408$310
33 years$1,845$1,273$858$568$370$278
34 years$1,771$1,207$802$522$335$249
35 years$1,701$1,145$750$481$303$223
36 years$1,636$1,086$701$443$275$200
37 years$1,574$1,032$657$408$249$179
38 years$1,516$981$615$376$226$161
39 years$1,461$932$576$347$205$144
40 years$1,408$887$540$320$186$129
41 years$1,359$844$506$295$168$116
42 years$1,311$804$475$272$153$104
43 years$1,266$766$446$251$139$93
44 years$1,224$730$418$232$126$84
45 years$1,183$697$393$214$114$75
46 years$1,144$664$369$198$104$68
47 years$1,107$634$347$183$94$61
48 years$1,072$605$326$169$86$54
49 years$1,038$578$306$156$78$49
50 years$1,006$552$288$144$71$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,030,000, adding $4,641 every year, while hoping to spend $55,749 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: 76/5/19 Blend
50$1,030,000$1,030,000$1,030,000$1,030,000
51$1,139,847$1,085,257$1,069,292$1,221,125
52$1,196,795$1,079,118$1,045,797$1,269,419
53$1,257,683$1,070,810$1,019,646$1,315,004
54$1,322,855$1,060,168$990,692$1,363,509
55$1,392,685$1,047,015$958,780$1,415,209
56$1,467,588$1,031,168$923,748$1,470,409
57$1,548,016$1,012,429$885,427$1,529,443
58$1,634,466$990,590$843,641$1,592,684
59$1,727,482$965,430$798,204$1,660,540
60$1,827,665$936,716$748,924$1,733,463
61$1,935,672$904,200$695,598$1,811,951
62$2,052,226$867,621$638,015$1,896,554
63$2,178,120$826,702$575,956$1,987,880
64$2,314,227$781,149$509,190$2,086,600
65$2,461,507$730,653$437,476$2,193,453
66$2,621,012$674,887$360,563$2,309,255
67$2,793,903$613,504$278,189$2,434,909
68$2,981,453$546,138$190,080$2,571,408
69$3,185,064$472,402$95,951$2,719,850
70$3,406,278$391,887$0$2,881,447
71$3,646,791$304,161$0$3,058,448
72$3,908,467$208,769$0$3,272,233
73$4,193,360$105,228$0$3,505,024
74$4,503,729$0$0$3,758,685
75$4,842,058$0$0$4,035,652
76$5,211,084$0$0$4,344,099
77$5,613,818$0$0$4,680,758
78$6,053,573$0$0$5,048,402
79$6,533,998$0$0$5,450,088
80$7,059,110$0$0$5,889,178
81$7,633,331$0$0$6,369,376
82$8,261,529$0$0$6,894,758
83$8,949,065$0$0$7,469,814
84$9,701,844$0$0$8,099,487
85$10,526,365$0$0$8,789,221
86$11,429,788$0$0$9,545,011
87$12,419,996$0$0$10,373,459
88$13,505,673$0$0$11,281,836
89$14,696,383$0$0$12,278,152
90$16,002,659$0$0$13,371,228
91$17,436,103$0$0$14,570,779
92$19,009,495$0$0$15,887,509
93$20,736,913$0$0$17,333,207
94$22,633,864$0$0$18,920,858
95$24,717,430$0$0$20,664,769
96$27,006,429$0$0$22,580,700
97$29,521,593$0$0$24,686,012
98$32,285,759$0$0$26,999,831
99$35,324,089$0$0$29,543,229
100$38,664,302$0$0$32,339,419