Can I retire at age 51 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$87,534$86,754$85,993$85,251$84,526$83,470
2 years$43,334$42,527$41,744$40,986$40,250$39,188
3 years$28,602$27,792$27,011$26,260$25,537$24,500
4 years$21,238$20,430$19,657$18,919$18,213$17,211
5 years$16,820$16,017$15,255$14,532$13,845$12,881
6 years$13,876$13,079$12,328$11,621$10,955$10,029
7 years$11,774$10,984$10,245$9,554$8,909$8,022
8 years$10,199$9,415$8,688$8,015$7,391$6,543
9 years$8,974$8,198$7,483$6,827$6,225$5,415
10 years$7,994$7,226$6,524$5,885$5,304$4,532
11 years$7,193$6,433$5,744$5,122$4,561$3,826
12 years$6,526$5,774$5,097$4,492$3,953$3,254
13 years$5,963$5,218$4,554$3,966$3,447$2,784
14 years$5,480$4,743$4,092$3,521$3,021$2,393
15 years$5,062$4,333$3,695$3,140$2,660$2,065
16 years$4,696$3,975$3,350$2,811$2,351$1,788
17 years$4,374$3,661$3,048$2,526$2,085$1,553
18 years$4,088$3,383$2,782$2,276$1,854$1,352
19 years$3,832$3,135$2,547$2,057$1,652$1,180
20 years$3,603$2,913$2,338$1,863$1,476$1,031
21 years$3,395$2,714$2,150$1,691$1,321$903
22 years$3,206$2,533$1,982$1,537$1,184$791
23 years$3,035$2,369$1,830$1,400$1,063$694
24 years$2,877$2,220$1,692$1,277$955$610
25 years$2,733$2,083$1,567$1,166$859$536
26 years$2,600$1,958$1,454$1,066$774$472
27 years$2,477$1,843$1,350$976$698$416
28 years$2,363$1,736$1,255$894$630$366
29 years$2,256$1,638$1,168$820$569$323
30 years$2,158$1,547$1,088$753$514$285
31 years$2,065$1,462$1,014$691$465$251
32 years$1,979$1,384$946$635$420$222
33 years$1,898$1,310$883$584$380$196
34 years$1,822$1,242$825$537$344$173
35 years$1,751$1,178$772$495$312$153
36 years$1,684$1,118$722$456$283$135
37 years$1,620$1,062$676$420$256$119
38 years$1,560$1,009$633$387$232$105
39 years$1,503$960$593$357$211$93
40 years$1,449$913$556$329$191$82
41 years$1,398$869$521$304$173$73
42 years$1,350$828$489$280$157$64
43 years$1,303$789$459$259$143$57
44 years$1,259$752$430$239$130$50
45 years$1,218$717$404$221$118$45
46 years$1,178$684$380$204$107$39
47 years$1,140$653$357$188$97$35
48 years$1,103$623$335$174$88$31
49 years$1,068$595$315$161$80$27
50 years$1,035$568$296$149$73$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,060,000, adding $3,829 every year, while hoping to spend $20,121 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: 50/42/8 Blend
50$1,060,000$1,060,000$1,060,000$1,060,000
51$1,172,070$1,115,890$1,099,460$1,228,059
52$1,270,212$1,149,160$1,114,883$1,299,952
53$1,377,691$1,183,385$1,130,149$1,375,564
54$1,495,437$1,218,593$1,145,230$1,457,252
55$1,624,475$1,254,808$1,160,099$1,545,591
56$1,765,935$1,292,057$1,174,726$1,641,211
57$1,921,061$1,330,368$1,189,080$1,744,808
58$2,091,222$1,369,769$1,203,127$1,857,146
59$2,277,927$1,410,288$1,216,832$1,979,066
60$2,482,839$1,451,955$1,230,159$2,111,494
61$2,707,787$1,494,799$1,243,067$2,255,448
62$2,954,788$1,538,851$1,255,517$2,412,049
63$3,226,063$1,584,142$1,267,464$2,582,533
64$3,524,061$1,630,704$1,278,863$2,768,256
65$3,851,475$1,678,569$1,289,665$2,970,716
66$4,211,277$1,727,770$1,299,820$3,191,558
67$4,606,737$1,778,341$1,309,274$3,432,596
68$5,041,460$1,830,316$1,317,971$3,695,826
69$5,519,418$1,883,730$1,325,852$3,983,448
70$6,044,984$1,938,618$1,332,854$4,297,882
71$6,622,980$1,995,018$1,338,912$4,641,794
72$7,258,716$2,052,966$1,343,957$5,018,123
73$7,958,043$2,112,499$1,347,917$5,430,102
74$8,727,408$2,173,656$1,350,717$5,881,294
75$9,573,913$2,236,475$1,352,276$6,375,623
76$10,505,387$2,300,996$1,352,511$6,917,413
77$11,530,450$2,367,260$1,351,335$7,511,426
78$12,658,606$2,435,305$1,348,655$8,162,906
79$13,900,324$2,505,175$1,344,374$8,877,634
80$15,267,139$2,576,910$1,338,392$9,661,975
81$16,771,761$2,650,553$1,330,603$10,522,943
82$18,428,198$2,726,147$1,320,895$11,468,266
83$20,251,881$2,803,735$1,309,152$12,506,455
84$22,259,816$2,883,362$1,295,252$13,646,890
85$24,470,741$2,965,070$1,279,066$14,899,906
86$26,905,304$3,048,906$1,260,462$16,276,888
87$29,586,256$3,134,913$1,239,299$17,790,380
88$32,538,669$3,223,139$1,215,430$19,454,204
89$35,790,168$3,313,628$1,188,702$21,283,591
90$39,371,196$3,406,426$1,158,954$23,295,320
91$43,315,297$3,501,580$1,126,018$25,507,883
92$47,659,435$3,599,136$1,089,719$27,941,651
93$52,444,345$3,699,140$1,049,871$30,619,075
94$57,714,910$3,801,640$1,006,284$33,564,890
95$63,520,591$3,906,681$958,755$36,806,354
96$69,915,894$4,014,311$907,075$40,373,502
97$76,960,877$4,124,574$851,024$44,299,430
98$84,721,726$4,237,518$790,373$48,620,606
99$93,271,373$4,353,187$724,882$53,377,216
100$102,690,187$4,471,627$654,299$58,613,545