Can I retire at age 51 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$92,489$91,665$90,861$90,076$89,310$86,905
2 years$45,786$44,934$44,107$43,306$42,529$40,122
3 years$30,221$29,365$28,540$27,747$26,982$24,650
4 years$22,440$21,586$20,770$19,990$19,244$17,004
5 years$17,772$16,924$16,118$15,354$14,629$12,488
6 years$14,662$13,820$13,026$12,279$11,575$9,535
7 years$12,441$11,606$10,825$10,095$9,414$7,474
8 years$10,776$9,948$9,180$8,469$7,810$5,970
9 years$9,482$8,662$7,907$7,213$6,577$4,835
10 years$8,447$7,635$6,893$6,218$5,604$3,958
11 years$7,601$6,797$6,069$5,411$4,819$3,267
12 years$6,896$6,100$5,386$4,747$4,176$2,714
13 years$6,300$5,513$4,812$4,191$3,642$2,267
14 years$5,790$5,011$4,324$3,720$3,193$1,902
15 years$5,348$4,578$3,904$3,317$2,811$1,601
16 years$4,962$4,200$3,539$2,970$2,484$1,352
17 years$4,622$3,868$3,221$2,669$2,203$1,144
18 years$4,319$3,574$2,940$2,405$1,959$970
19 years$4,049$3,313$2,691$2,173$1,746$824
20 years$3,807$3,078$2,470$1,968$1,559$701
21 years$3,587$2,867$2,272$1,786$1,395$597
22 years$3,388$2,677$2,094$1,624$1,251$509
23 years$3,206$2,503$1,933$1,479$1,123$434
24 years$3,040$2,345$1,788$1,349$1,009$371
25 years$2,888$2,201$1,656$1,232$908$317
26 years$2,747$2,069$1,536$1,127$818$271
27 years$2,617$1,947$1,426$1,031$737$232
28 years$2,496$1,834$1,326$945$665$198
29 years$2,384$1,731$1,234$866$601$170
30 years$2,280$1,634$1,149$795$543$145
31 years$2,182$1,545$1,071$730$491$125
32 years$2,091$1,462$1,000$671$444$107
33 years$2,006$1,384$933$617$402$91
34 years$1,925$1,312$872$568$364$78
35 years$1,850$1,245$815$523$330$67
36 years$1,779$1,181$763$481$299$58
37 years$1,712$1,122$714$444$271$49
38 years$1,648$1,066$669$409$245$42
39 years$1,588$1,014$626$377$222$36
40 years$1,531$965$587$348$202$31
41 years$1,477$918$551$321$183$27
42 years$1,426$874$516$296$166$23
43 years$1,377$833$485$273$151$20
44 years$1,331$794$455$252$137$17
45 years$1,286$757$427$233$124$14
46 years$1,244$723$401$215$113$12
47 years$1,204$689$377$199$102$11
48 years$1,166$658$354$184$93$9
49 years$1,129$629$333$170$84$8
50 years$1,094$600$313$157$77$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,120,000, adding $5,316 every year, while hoping to spend $20,430 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: 49/44/7 Blend
50$1,120,000$1,120,000$1,120,000$1,120,000
51$1,239,723$1,180,363$1,163,003$1,297,967
52$1,344,438$1,216,464$1,180,227$1,374,430
53$1,459,148$1,253,649$1,197,342$1,454,823
54$1,584,853$1,291,949$1,214,325$1,541,660
55$1,722,651$1,331,398$1,231,148$1,635,547
56$1,873,753$1,372,028$1,247,783$1,737,151
57$2,039,493$1,413,873$1,264,200$1,847,207
58$2,221,338$1,456,970$1,280,367$1,966,520
59$2,420,906$1,501,354$1,296,252$2,095,978
60$2,639,980$1,547,061$1,311,818$2,236,560
61$2,880,522$1,594,131$1,327,027$2,389,338
62$3,144,693$1,642,602$1,341,841$2,555,496
63$3,434,877$1,692,514$1,356,218$2,736,336
64$3,753,696$1,743,909$1,370,113$2,933,291
65$4,104,041$1,796,829$1,383,480$3,147,936
66$4,489,097$1,851,317$1,396,270$3,382,009
67$4,912,372$1,907,418$1,408,432$3,637,421
68$5,377,730$1,965,178$1,419,910$3,916,275
69$5,889,430$2,024,643$1,430,649$4,220,890
70$6,452,163$2,085,862$1,440,587$4,553,816
71$7,071,098$2,148,884$1,449,661$4,917,862
72$7,751,931$2,213,760$1,457,805$5,316,122
73$8,500,935$2,280,541$1,464,949$5,752,004
74$9,325,024$2,349,282$1,471,019$6,229,260
75$10,231,816$2,420,036$1,475,937$6,752,022
76$11,229,703$2,492,860$1,479,623$7,324,844
77$12,327,933$2,567,810$1,481,991$7,952,738
78$13,536,696$2,644,947$1,482,951$8,641,228
79$14,867,219$2,724,329$1,482,410$9,396,398
80$16,331,874$2,806,019$1,480,269$10,224,949
81$17,944,291$2,890,081$1,476,424$11,134,264
82$19,719,492$2,976,578$1,470,768$12,132,476
83$21,674,028$3,065,577$1,463,186$13,228,544
84$23,826,135$3,157,147$1,453,558$14,432,339
85$26,195,909$3,251,356$1,441,762$15,754,736
86$28,805,495$3,348,275$1,427,664$17,207,716
87$31,679,294$3,447,979$1,411,129$18,804,478
88$34,844,192$3,550,540$1,392,012$20,559,565
89$38,329,819$3,656,036$1,370,164$22,489,000
90$42,168,823$3,764,544$1,345,426$24,610,438
91$46,397,180$3,876,144$1,317,635$26,943,330
92$51,054,534$3,990,917$1,286,618$29,509,108
93$56,184,571$4,108,946$1,252,194$32,331,388
94$61,835,429$4,230,317$1,214,175$35,436,188
95$68,060,157$4,355,115$1,172,363$38,852,180
96$74,917,208$4,483,431$1,126,552$42,610,953
97$82,470,998$4,615,354$1,076,526$46,747,318
98$90,792,510$4,750,976$1,022,060$51,299,630
99$99,959,964$4,890,393$962,917$56,310,153
100$110,059,557$5,033,699$898,852$61,825,458