Can I retire at age 51 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$193,235$191,514$189,834$188,195$186,595$181,936
2 years$95,661$93,879$92,153$90,479$88,855$84,191
3 years$63,140$61,351$59,629$57,970$56,373$51,850
4 years$46,883$45,100$43,395$41,764$40,206$35,858
5 years$37,132$35,359$33,676$32,079$30,564$26,403
6 years$30,633$28,873$27,215$25,654$24,184$20,215
7 years$25,992$24,247$22,616$21,092$19,668$15,891
8 years$22,514$20,785$19,180$17,693$16,317$12,729
9 years$19,810$18,097$16,520$15,071$13,741$10,341
10 years$17,647$15,951$14,402$12,991$11,708$8,491
11 years$15,880$14,201$12,680$11,306$10,069$7,031
12 years$14,408$12,746$11,253$9,917$8,726$5,861
13 years$13,163$11,518$10,054$8,755$7,609$4,912
14 years$12,097$10,470$9,033$7,772$6,670$4,135
15 years$11,174$9,564$8,156$6,931$5,873$3,493
16 years$10,367$8,775$7,394$6,206$5,190$2,960
17 years$9,656$8,082$6,729$5,576$4,602$2,514
18 years$9,024$7,468$6,142$5,025$4,092$2,140
19 years$8,460$6,921$5,623$4,541$3,647$1,825
20 years$7,953$6,431$5,161$4,112$3,258$1,558
21 years$7,495$5,991$4,747$3,732$2,915$1,332
22 years$7,078$5,592$4,375$3,394$2,613$1,140
23 years$6,699$5,230$4,039$3,091$2,346$977
24 years$6,352$4,900$3,736$2,819$2,108$838
25 years$6,033$4,599$3,460$2,574$1,897$719
26 years$5,739$4,322$3,209$2,354$1,709$617
27 years$5,467$4,067$2,980$2,154$1,541$530
28 years$5,215$3,833$2,770$1,974$1,390$455
29 years$4,981$3,616$2,578$1,810$1,255$391
30 years$4,763$3,415$2,401$1,661$1,134$336
31 years$4,560$3,228$2,239$1,526$1,026$289
32 years$4,369$3,054$2,089$1,402$928$249
33 years$4,191$2,893$1,950$1,289$840$214
34 years$4,023$2,741$1,822$1,186$760$184
35 years$3,865$2,600$1,704$1,092$688$158
36 years$3,716$2,468$1,594$1,006$624$136
37 years$3,576$2,344$1,492$927$565$117
38 years$3,444$2,228$1,397$854$513$101
39 years$3,318$2,118$1,309$788$465$87
40 years$3,199$2,015$1,227$726$422$75
41 years$3,086$1,918$1,150$670$382$65
42 years$2,979$1,827$1,079$619$347$56
43 years$2,877$1,741$1,012$571$315$48
44 years$2,780$1,659$950$527$286$41
45 years$2,688$1,582$892$487$260$35
46 years$2,600$1,510$838$450$236$31
47 years$2,516$1,441$787$416$214$26
48 years$2,435$1,375$740$384$194$23
49 years$2,358$1,313$695$355$177$20
50 years$2,285$1,254$654$328$160$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,340,000, adding $5,682 every year, while hoping to spend $22,421 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: 71/6/23 Blend
50$2,340,000$2,340,000$2,340,000$2,340,000
51$2,584,541$2,460,521$2,424,251$2,752,831
52$2,824,308$2,557,231$2,481,608$2,962,620
53$3,087,781$2,657,928$2,540,134$3,189,078
54$3,377,352$2,762,784$2,599,846$3,436,502
55$3,695,660$2,871,978$2,660,759$3,706,971
56$4,045,611$2,985,699$2,722,888$4,002,774
57$4,430,406$3,104,141$2,786,248$4,326,431
58$4,853,572$3,227,509$2,850,852$4,680,720
59$5,318,996$3,356,017$2,916,716$5,068,697
60$5,830,960$3,489,888$2,983,852$5,493,730
61$6,394,182$3,629,356$3,052,274$5,959,528
62$7,013,858$3,774,664$3,121,995$6,470,176
63$7,695,717$3,926,068$3,193,027$7,030,175
64$8,446,068$4,083,833$3,265,382$7,644,482
65$9,271,865$4,248,239$3,339,070$8,318,556
66$10,180,768$4,419,576$3,414,102$9,058,413
67$11,181,220$4,598,148$3,490,488$9,870,679
68$12,282,521$4,784,274$3,568,236$10,762,655
69$13,494,921$4,978,286$3,647,354$11,742,381
70$14,829,712$5,180,531$3,727,850$12,818,717
71$16,299,338$5,391,373$3,809,729$14,001,425
72$17,917,512$5,611,192$3,892,996$15,301,258
73$19,699,343$5,840,385$3,977,656$16,730,063
74$21,661,478$6,079,366$4,063,710$18,300,894
75$23,822,265$6,328,571$4,151,160$20,028,133
76$26,201,919$6,588,454$4,240,007$21,927,625
77$28,822,715$6,859,489$4,330,247$24,016,829
78$31,709,201$7,142,173$4,421,880$26,314,983
79$34,888,426$7,437,025$4,514,899$28,843,280
80$38,390,195$7,744,589$4,609,298$31,625,076
81$42,247,354$8,065,433$4,705,068$34,686,102
82$46,496,096$8,400,151$4,802,200$38,054,712
83$51,176,304$8,749,365$4,900,680$41,762,147
84$56,331,928$9,113,725$5,000,494$45,842,833
85$62,011,398$9,493,911$5,101,624$50,334,701
86$68,268,083$9,890,635$5,204,051$55,279,547
87$75,160,793$10,304,642$5,307,752$60,723,429
88$82,754,335$10,736,710$5,412,702$66,717,094
89$91,120,123$11,187,654$5,518,873$73,316,464
90$100,336,853$11,658,327$5,626,234$80,583,159
91$110,491,248$12,149,621$5,734,749$88,585,080
92$121,678,873$12,662,470$5,844,380$97,397,050
93$134,005,037$13,197,850$5,955,086$107,101,515
94$147,585,790$13,756,784$6,066,821$117,789,329
95$162,549,015$14,340,341$6,179,534$129,560,607
96$179,035,638$14,949,641$6,293,171$142,525,669
97$197,200,955$15,585,855$6,407,674$156,806,082
98$217,216,100$16,250,210$6,522,979$172,535,806
99$239,269,660$16,943,988$6,639,017$189,862,462
100$263,569,455$17,668,533$6,755,713$208,948,718