Can I retire at age 51 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$241,957$239,801$237,699$235,646$233,642$231,878
2 years$119,781$117,550$115,388$113,292$111,258$109,480
3 years$79,060$76,820$74,664$72,587$70,587$68,849
4 years$58,704$56,471$54,336$52,295$50,343$48,659
5 years$46,494$44,274$42,167$40,167$38,270$36,645
6 years$38,356$36,153$34,077$32,122$30,282$28,718
7 years$32,546$30,361$28,318$26,409$24,627$23,125
8 years$28,190$26,025$24,016$22,154$20,431$18,990
9 years$24,804$22,660$20,685$18,870$17,206$15,827
10 years$22,097$19,973$18,034$16,267$14,660$13,342
11 years$19,884$17,781$15,877$14,157$12,608$11,349
12 years$18,040$15,959$14,090$12,417$10,926$9,726
13 years$16,482$14,423$12,589$10,963$9,528$8,385
14 years$15,147$13,110$11,311$9,731$8,352$7,265
15 years$13,991$11,976$10,212$8,679$7,354$6,321
16 years$12,981$10,988$9,259$7,771$6,499$5,519
17 years$12,091$10,119$8,425$6,982$5,763$4,834
18 years$11,300$9,351$7,691$6,292$5,124$4,244
19 years$10,593$8,666$7,041$5,686$4,567$3,735
20 years$9,958$8,053$6,462$5,149$4,079$3,294
21 years$9,384$7,501$5,944$4,673$3,651$2,909
22 years$8,863$7,002$5,478$4,249$3,272$2,573
23 years$8,388$6,549$5,058$3,870$2,937$2,279
24 years$7,953$6,136$4,678$3,530$2,640$2,021
25 years$7,554$5,758$4,332$3,223$2,376$1,793
26 years$7,186$5,412$4,018$2,947$2,140$1,593
27 years$6,846$5,093$3,731$2,698$1,929$1,416
28 years$6,530$4,799$3,469$2,472$1,741$1,260
29 years$6,237$4,527$3,228$2,267$1,572$1,121
30 years$5,964$4,276$3,007$2,080$1,420$999
31 years$5,709$4,042$2,803$1,910$1,284$890
32 years$5,471$3,824$2,615$1,756$1,162$793
33 years$5,247$3,622$2,442$1,615$1,051$707
34 years$5,037$3,433$2,282$1,486$952$631
35 years$4,840$3,256$2,133$1,368$862$563
36 years$4,654$3,090$1,995$1,259$781$503
37 years$4,478$2,935$1,868$1,160$708$449
38 years$4,312$2,789$1,749$1,070$642$401
39 years$4,155$2,652$1,639$986$582$358
40 years$4,006$2,524$1,536$910$528$320
41 years$3,865$2,402$1,440$839$479$285
42 years$3,730$2,288$1,351$775$435$255
43 years$3,603$2,180$1,268$715$394$228
44 years$3,481$2,078$1,190$660$358$204
45 years$3,366$1,981$1,117$610$325$182
46 years$3,255$1,890$1,049$563$295$163
47 years$3,150$1,804$986$520$268$145
48 years$3,049$1,722$926$481$243$130
49 years$2,953$1,644$871$444$221$116
50 years$2,861$1,571$819$411$201$104

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,930,000, adding $2,571 every year, while hoping to spend $23,316 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: 60/29/11 Blend
50$2,930,000$2,930,000$2,930,000$2,930,000
51$3,231,512$3,076,222$3,030,807$3,416,841
52$3,536,318$3,202,149$3,107,531$3,667,581
53$3,871,433$3,333,465$3,186,044$3,938,094
54$4,239,924$3,470,409$3,266,381$4,232,597
55$4,645,169$3,613,232$3,348,577$4,553,403
56$5,090,891$3,762,196$3,432,670$4,903,059
57$5,581,193$3,917,574$3,518,695$5,284,364
58$6,120,593$4,079,653$3,606,690$5,700,397
59$6,714,070$4,248,733$3,696,691$6,154,546
60$7,367,111$4,425,127$3,788,736$6,650,539
61$8,085,761$4,609,162$3,882,863$7,192,476
62$8,876,680$4,801,183$3,979,110$7,784,869
63$9,747,207$5,001,546$4,077,516$8,432,686
64$10,705,429$5,210,629$4,178,119$9,141,391
65$11,760,255$5,428,822$4,280,959$9,917,000
66$12,921,505$5,656,538$4,386,074$10,766,134
67$14,199,995$5,894,205$4,493,505$11,696,081
68$15,607,647$6,142,274$4,603,290$12,714,865
69$17,157,596$6,401,214$4,715,469$13,831,318
70$18,864,316$6,671,518$4,830,082$15,055,165
71$20,743,755$6,953,702$4,947,169$16,397,113
72$22,813,489$7,248,304$5,066,770$17,868,950
73$25,092,883$7,555,889$5,188,924$19,483,657
74$27,603,275$7,877,046$5,313,672$21,255,529
75$30,368,182$8,212,394$5,441,053$23,200,305
76$33,413,515$8,562,579$5,571,106$25,335,320
77$36,767,826$8,928,279$5,703,871$27,679,664
78$40,462,581$9,310,200$5,839,387$30,254,360
79$44,532,450$9,709,086$5,977,692$33,082,564
80$49,015,640$10,125,712$6,118,825$36,189,779
81$53,954,253$10,560,890$6,262,824$39,604,093
82$59,394,685$11,015,471$6,409,726$43,356,447
83$65,388,058$11,490,345$6,559,568$47,480,918
84$71,990,712$11,986,444$6,712,385$52,015,046
85$79,264,729$12,504,743$6,868,214$57,000,180
86$87,278,520$13,046,265$7,027,088$62,481,868
87$96,107,475$13,612,077$7,189,042$68,510,289
88$105,834,670$14,203,301$7,354,107$75,140,714
89$116,551,651$14,821,109$7,522,315$82,434,037
90$128,359,303$15,466,727$7,693,696$90,457,339
91$141,368,797$16,141,440$7,868,279$99,284,518
92$155,702,639$16,846,596$8,046,091$108,996,992
93$171,495,831$17,583,602$8,227,158$119,684,453
94$188,897,141$18,353,934$8,411,504$131,445,720
95$208,070,511$19,159,138$8,599,150$144,389,663
96$229,196,598$20,000,831$8,790,117$158,636,229
97$252,474,488$20,880,709$8,984,423$174,317,569
98$278,123,568$21,800,545$9,182,083$191,579,284
99$306,385,599$22,762,199$9,383,110$210,581,795
100$337,527,000$23,767,617$9,587,514$231,501,851