Can I retire at age 51 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$245,260$243,075$240,944$238,863$236,832$235,735
2 years$121,416$119,154$116,963$114,838$112,777$111,670
3 years$80,140$77,869$75,683$73,578$71,550$70,467
4 years$59,506$57,242$55,078$53,009$51,030$49,979
5 years$47,129$44,878$42,743$40,716$38,792$37,777
6 years$38,880$36,646$34,542$32,561$30,695$29,716
7 years$32,990$30,776$28,705$26,770$24,963$24,022
8 years$28,575$26,380$24,344$22,457$20,710$19,805
9 years$25,143$22,969$20,967$19,128$17,440$16,573
10 years$22,399$20,246$18,280$16,489$14,860$14,030
11 years$20,155$18,024$16,093$14,350$12,780$11,986
12 years$18,286$16,177$14,282$12,587$11,075$10,316
13 years$16,707$14,619$12,760$11,112$9,658$8,934
14 years$15,354$13,289$11,465$9,864$8,466$7,776
15 years$14,182$12,139$10,352$8,797$7,454$6,797
16 years$13,158$11,138$9,385$7,877$6,588$5,963
17 years$12,256$10,257$8,540$7,077$5,841$5,248
18 years$11,454$9,478$7,796$6,378$5,194$4,631
19 years$10,738$8,784$7,137$5,763$4,629$4,096
20 years$10,094$8,163$6,550$5,220$4,135$3,630
21 years$9,512$7,603$6,025$4,737$3,700$3,222
22 years$8,984$7,098$5,553$4,307$3,317$2,865
23 years$8,503$6,638$5,127$3,923$2,977$2,551
24 years$8,062$6,220$4,742$3,578$2,676$2,274
25 years$7,657$5,837$4,392$3,267$2,408$2,029
26 years$7,284$5,486$4,073$2,987$2,169$1,812
27 years$6,939$5,163$3,782$2,735$1,956$1,620
28 years$6,619$4,865$3,516$2,505$1,765$1,449
29 years$6,322$4,589$3,272$2,298$1,593$1,297
30 years$6,046$4,334$3,048$2,109$1,440$1,162
31 years$5,787$4,097$2,841$1,937$1,302$1,041
32 years$5,545$3,877$2,651$1,780$1,177$934
33 years$5,319$3,671$2,475$1,637$1,066$837
34 years$5,106$3,480$2,313$1,506$965$751
35 years$4,906$3,300$2,162$1,386$874$674
36 years$4,717$3,132$2,023$1,277$792$605
37 years$4,539$2,975$1,893$1,176$718$544
38 years$4,371$2,827$1,773$1,084$651$488
39 years$4,211$2,689$1,661$1,000$590$439
40 years$4,060$2,558$1,557$922$535$394
41 years$3,917$2,435$1,460$851$485$354
42 years$3,781$2,319$1,369$785$441$318
43 years$3,652$2,210$1,285$725$400$286
44 years$3,529$2,106$1,206$669$363$257
45 years$3,411$2,008$1,133$618$329$231
46 years$3,300$1,916$1,064$571$299$208
47 years$3,193$1,828$999$527$272$187
48 years$3,091$1,745$939$487$247$168
49 years$2,993$1,667$883$450$224$151
50 years$2,900$1,592$830$416$203$136

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $2,970,000, adding $2,099 every year, while hoping to spend $26,445 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: 45/47/8 Blend
50$2,970,000$2,970,000$2,970,000$2,970,000
51$3,275,105$3,117,695$3,071,660$3,415,052
52$3,581,029$3,242,325$3,146,423$3,636,557
53$3,917,270$3,372,175$3,222,805$3,873,698
54$4,286,894$3,507,474$3,300,831$4,130,217
55$4,693,276$3,648,459$3,380,528$4,407,909
56$5,140,136$3,795,380$3,461,922$4,708,743
57$5,631,573$3,948,497$3,545,040$5,034,881
58$6,172,102$4,108,081$3,629,906$5,388,700
59$6,766,696$4,274,417$3,716,549$5,772,808
60$7,420,839$4,447,803$3,804,992$6,190,073
61$8,140,567$4,628,549$3,895,263$6,643,645
62$8,932,537$4,816,979$3,987,385$7,136,985
63$9,804,078$5,013,434$4,081,386$7,673,899
64$10,763,271$5,218,269$4,177,288$8,258,570
65$11,819,015$5,431,854$4,275,118$8,895,599
66$12,981,118$5,654,579$4,374,898$9,590,040
67$14,260,388$5,886,849$4,476,653$10,347,457
68$15,668,731$6,129,089$4,580,405$11,173,966
69$17,219,271$6,381,742$4,686,177$12,076,294
70$18,926,463$6,645,275$4,793,991$13,061,841
71$20,806,240$6,920,171$4,903,868$14,138,750
72$22,876,157$7,206,939$5,015,827$15,315,979
73$25,155,557$7,506,111$5,129,889$16,603,383
74$27,665,756$7,818,243$5,246,073$18,011,808
75$30,430,241$8,143,915$5,364,395$19,553,191
76$33,474,896$8,483,737$5,484,872$21,240,668
77$36,828,239$8,838,344$5,607,519$23,088,697
78$40,521,699$9,208,402$5,732,350$25,113,193
79$44,589,906$9,594,608$5,859,378$27,331,673
80$49,071,023$9,997,691$5,988,614$29,763,422
81$54,007,102$10,418,412$6,120,067$32,429,672
82$59,444,482$10,857,570$6,253,745$35,353,795
83$65,434,228$11,316,000$6,389,654$38,561,527
84$72,032,610$11,794,574$6,527,798$42,081,204
85$79,301,635$12,294,207$6,668,178$45,944,026
86$87,309,634$12,815,856$6,810,795$50,184,349
87$96,131,905$13,360,521$6,955,645$54,840,008
88$105,851,424$13,929,251$7,102,723$59,952,667
89$116,559,626$14,523,141$7,252,021$65,568,208
90$128,357,273$15,143,340$7,403,529$71,737,164
91$141,355,400$15,791,049$7,557,232$78,515,189
92$155,676,364$16,467,524$7,713,113$85,963,579
93$171,455,003$17,174,082$7,871,152$94,149,846
94$188,839,901$17,912,100$8,031,323$103,148,352
95$207,994,798$18,683,020$8,193,600$113,041,003
96$229,100,132$19,488,353$8,357,950$123,918,020
97$252,354,741$20,329,677$8,524,336$135,878,784
98$277,977,741$21,208,647$8,692,718$149,032,766
99$306,210,595$22,126,996$8,863,049$163,500,560
100$337,319,394$23,086,537$9,035,279$179,415,008