Can I retire at age 51 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$102,398$101,486$100,596$99,727$98,879$98,092
2 years$50,692$49,748$48,833$47,946$47,085$46,292
3 years$33,459$32,511$31,598$30,719$29,873$29,097
4 years$24,844$23,899$22,995$22,132$21,306$20,554
5 years$19,677$18,737$17,845$16,999$16,196$15,471
6 years$16,233$15,300$14,422$13,594$12,815$12,118
7 years$13,774$12,849$11,985$11,177$10,422$9,753
8 years$11,930$11,014$10,164$9,376$8,646$8,004
9 years$10,497$9,590$8,754$7,986$7,282$6,667
10 years$9,352$8,453$7,632$6,884$6,204$5,617
11 years$8,415$7,525$6,719$5,991$5,336$4,775
12 years$7,635$6,754$5,963$5,255$4,624$4,089
13 years$6,975$6,104$5,328$4,640$4,032$3,523
14 years$6,410$5,548$4,787$4,118$3,535$3,051
15 years$5,921$5,068$4,322$3,673$3,112$2,653
16 years$5,494$4,650$3,918$3,289$2,750$2,314
17 years$5,117$4,283$3,566$2,955$2,439$2,026
18 years$4,782$3,957$3,255$2,663$2,168$1,777
19 years$4,483$3,668$2,980$2,406$1,933$1,563
20 years$4,214$3,408$2,735$2,179$1,726$1,377
21 years$3,971$3,174$2,515$1,978$1,545$1,216
22 years$3,751$2,963$2,318$1,798$1,385$1,074
23 years$3,550$2,771$2,141$1,638$1,243$951
24 years$3,366$2,597$1,980$1,494$1,117$842
25 years$3,197$2,437$1,834$1,364$1,005$747
26 years$3,041$2,290$1,701$1,247$906$663
27 years$2,897$2,155$1,579$1,142$817$589
28 years$2,764$2,031$1,468$1,046$737$524
29 years$2,640$1,916$1,366$959$665$466
30 years$2,524$1,810$1,272$880$601$414
31 years$2,416$1,711$1,186$809$543$369
32 years$2,315$1,619$1,107$743$492$329
33 years$2,221$1,533$1,033$683$445$293
34 years$2,132$1,453$966$629$403$261
35 years$2,048$1,378$903$579$365$233
36 years$1,969$1,308$844$533$331$207
37 years$1,895$1,242$790$491$300$185
38 years$1,825$1,180$740$453$272$165
39 years$1,758$1,123$693$417$246$147
40 years$1,695$1,068$650$385$223$131
41 years$1,635$1,017$609$355$203$117
42 years$1,579$968$572$328$184$105
43 years$1,525$922$536$303$167$94
44 years$1,473$879$504$279$152$84
45 years$1,424$839$473$258$138$75
46 years$1,378$800$444$238$125$67
47 years$1,333$763$417$220$113$59
48 years$1,290$729$392$203$103$53
49 years$1,250$696$369$188$94$47
50 years$1,211$665$346$174$85$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $1,240,000, adding $2,534 every year, while hoping to spend $37,807 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: 53/34/13 Blend
50$1,240,000$1,240,000$1,240,000$1,240,000
51$1,369,094$1,303,374$1,284,154$1,436,830
52$1,468,515$1,327,013$1,286,947$1,506,921
53$1,576,810$1,350,543$1,288,566$1,578,877
54$1,694,844$1,373,919$1,288,932$1,656,300
55$1,823,570$1,397,092$1,287,963$1,739,720
56$1,964,034$1,420,010$1,285,570$1,829,716
57$2,117,392$1,442,617$1,281,663$1,926,932
58$2,284,912$1,464,852$1,276,145$2,032,074
59$2,467,993$1,486,649$1,268,916$2,145,922
60$2,668,174$1,507,941$1,259,870$2,269,336
61$2,887,150$1,528,652$1,248,898$2,403,266
62$3,126,786$1,548,702$1,235,882$2,548,756
63$3,389,137$1,568,008$1,220,703$2,706,960
64$3,676,465$1,586,477$1,203,233$2,879,151
65$3,991,263$1,604,012$1,183,340$3,066,731
66$4,336,273$1,620,510$1,160,883$3,271,247
67$4,714,519$1,635,861$1,135,718$3,494,406
68$5,129,327$1,649,946$1,107,693$3,738,089
69$5,584,365$1,662,640$1,076,647$4,004,371
70$6,083,670$1,673,809$1,042,414$4,295,541
71$6,631,690$1,683,311$1,004,821$4,614,121
72$7,233,323$1,690,994$963,683$4,962,896
73$7,893,967$1,696,698$918,812$5,344,934
74$8,619,567$1,700,250$870,006$5,763,620
75$9,416,670$1,701,470$817,059$6,222,686
76$10,292,492$1,700,164$759,752$6,726,247
77$11,254,980$1,696,126$697,858$7,278,843
78$12,312,891$1,689,139$631,139$7,885,477
79$13,475,871$1,678,972$559,347$8,551,668
80$14,754,547$1,665,379$482,223$9,283,501
81$16,160,629$1,648,100$399,495$10,087,686
82$17,707,016$1,626,860$310,881$10,971,622
83$19,407,922$1,601,366$216,086$11,943,465
84$21,279,006$1,571,309$114,801$13,012,211
85$23,337,522$1,536,361$6,704$14,187,776
86$25,602,480$1,496,174$0$15,481,096
87$28,094,827$1,450,380$0$16,919,297
88$30,837,642$1,398,591$0$18,502,571
89$33,856,353$1,340,394$0$20,244,694
90$37,178,981$1,275,354$0$22,161,874
91$40,836,400$1,203,008$0$24,271,980
92$44,862,628$1,122,871$0$26,594,705
93$49,295,150$1,034,426$0$29,151,759
94$54,175,270$937,127$0$31,967,071
95$59,548,501$830,400$0$35,067,019
96$65,464,992$713,634$0$38,480,674
97$71,980,007$586,187$0$42,240,084
98$79,154,436$447,379$0$46,380,571
99$87,055,380$296,492$0$50,941,068
100$95,756,778$132,769$0$55,964,490