Can I retire at age 51 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$242,782$240,620$238,510$236,451$234,440$227,299
2 years$120,189$117,951$115,782$113,678$111,638$104,505
3 years$79,330$77,082$74,918$72,835$70,828$63,927
4 years$58,905$56,664$54,521$52,473$50,515$43,898
5 years$46,653$44,425$42,311$40,305$38,401$32,086
6 years$38,487$36,276$34,193$32,232$30,385$24,379
7 years$32,657$30,465$28,415$26,500$24,711$19,012
8 years$28,287$26,114$24,098$22,230$20,500$15,105
9 years$24,889$22,737$20,756$18,935$17,264$12,168
10 years$22,172$20,041$18,095$16,322$14,710$9,904
11 years$19,951$17,842$15,931$14,205$12,651$8,128
12 years$18,102$16,014$14,138$12,460$10,963$6,713
13 years$16,538$14,472$12,632$11,000$9,560$5,573
14 years$15,199$13,154$11,349$9,765$8,380$4,646
15 years$14,039$12,017$10,247$8,708$7,379$3,886
16 years$13,025$11,025$9,290$7,797$6,521$3,260
17 years$12,132$10,154$8,454$7,006$5,782$2,741
18 years$11,338$9,383$7,717$6,314$5,141$2,309
19 years$10,629$8,696$7,065$5,705$4,583$1,948
20 years$9,992$8,080$6,484$5,167$4,093$1,646
21 years$9,416$7,527$5,964$4,689$3,663$1,392
22 years$8,893$7,026$5,497$4,264$3,283$1,179
23 years$8,417$6,571$5,075$3,883$2,947$999
24 years$7,981$6,157$4,694$3,542$2,649$847
25 years$7,580$5,778$4,347$3,234$2,384$719
26 years$7,210$5,430$4,032$2,957$2,147$610
27 years$6,869$5,110$3,744$2,707$1,936$518
28 years$6,553$4,816$3,480$2,480$1,747$440
29 years$6,259$4,543$3,239$2,274$1,577$374
30 years$5,985$4,290$3,017$2,087$1,425$318
31 years$5,729$4,056$2,813$1,917$1,289$270
32 years$5,489$3,838$2,624$1,762$1,166$230
33 years$5,265$3,634$2,450$1,620$1,055$195
34 years$5,054$3,444$2,289$1,491$955$166
35 years$4,856$3,267$2,140$1,372$865$141
36 years$4,669$3,101$2,002$1,264$784$120
37 years$4,493$2,945$1,874$1,164$710$102
38 years$4,327$2,799$1,755$1,073$644$87
39 years$4,169$2,661$1,644$990$584$74
40 years$4,019$2,532$1,541$913$530$63
41 years$3,878$2,410$1,445$842$481$54
42 years$3,743$2,296$1,356$777$436$46
43 years$3,615$2,187$1,272$717$396$39
44 years$3,493$2,085$1,194$662$359$33
45 years$3,377$1,988$1,121$612$326$28
46 years$3,266$1,897$1,053$565$296$24
47 years$3,161$1,810$989$522$269$20
48 years$3,060$1,728$930$482$244$17
49 years$2,963$1,650$874$446$222$15
50 years$2,870$1,576$821$412$201$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,940,000, adding $6,247 every year, while hoping to spend $31,137 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: 27/46/27 Blend
50$2,940,000$2,940,000$2,940,000$2,940,000
51$3,246,324$3,090,504$3,044,934$3,306,495
52$3,544,319$3,208,809$3,113,810$3,473,807
53$3,871,667$3,331,867$3,183,949$3,650,221
54$4,231,327$3,459,879$3,255,362$3,838,996
55$4,626,563$3,593,054$3,328,056$4,041,207
56$5,060,967$3,731,608$3,402,041$4,258,030
57$5,538,499$3,875,770$3,477,323$4,490,756
58$6,063,520$4,025,778$3,553,908$4,740,798
59$6,640,837$4,181,878$3,631,801$5,009,708
60$7,275,743$4,344,331$3,711,008$5,299,187
61$7,974,073$4,513,407$3,791,530$5,611,102
62$8,742,252$4,689,388$3,873,370$5,947,503
63$9,587,363$4,872,569$3,956,529$6,310,638
64$10,517,207$5,063,258$4,041,006$6,702,979
65$11,540,381$5,261,777$4,126,799$7,127,237
66$12,666,357$5,468,461$4,213,904$7,586,392
67$13,905,572$5,683,662$4,302,316$8,083,717
68$15,269,525$5,907,746$4,392,028$8,622,809
69$16,770,887$6,141,096$4,483,031$9,207,620
70$18,423,620$6,384,112$4,575,315$9,842,495
71$20,243,107$6,637,212$4,668,867$10,532,209
72$22,246,302$6,900,832$4,763,671$11,282,013
73$24,451,881$7,175,430$4,859,711$12,097,680
74$26,880,428$7,461,481$4,956,966$12,985,558
75$29,554,622$7,759,484$5,055,415$13,952,630
76$32,499,455$8,069,960$5,155,032$15,006,575
77$35,742,463$8,393,452$5,255,790$16,155,844
78$39,313,992$8,730,529$5,357,657$17,409,729
79$43,247,480$9,081,786$5,460,599$18,778,458
80$47,579,773$9,447,843$5,564,579$20,273,284
81$52,351,473$9,829,350$5,669,555$21,906,588
82$57,607,320$10,226,986$5,775,483$23,691,998
83$63,396,618$10,641,459$5,882,313$25,644,513
84$69,773,695$11,073,513$5,989,992$27,780,640
85$76,798,419$11,523,922$6,098,464$30,118,551
86$84,536,760$11,993,496$6,207,665$32,678,250
87$93,061,417$12,483,085$6,317,528$35,481,756
88$102,452,498$12,993,573$6,427,983$38,553,314
89$112,798,283$13,525,887$6,538,950$41,919,615
90$124,196,050$14,080,998$6,650,347$45,610,049
91$136,752,998$14,659,918$6,762,084$49,656,975
92$150,587,256$15,263,706$6,874,067$54,096,028
93$165,829,001$15,893,473$6,986,192$58,966,445
94$182,621,681$16,550,375$7,098,352$64,311,439
95$201,123,376$17,235,627$7,210,431$70,178,597
96$221,508,284$17,950,497$7,322,304$76,620,327
97$243,968,368$18,696,310$7,433,839$83,694,350
98$268,715,167$19,474,454$7,544,898$91,464,238
99$295,981,793$20,286,381$7,655,331$100,000,010
100$326,025,131$21,133,610$7,764,981$109,378,788