Can I retire at age 51 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$79,276$78,570$77,881$77,208$76,552$74,550
2 years$39,245$38,515$37,806$37,119$36,453$34,450
3 years$25,904$25,170$24,463$23,783$23,127$21,186
4 years$19,234$18,502$17,803$17,134$16,495$14,629
5 years$15,234$14,506$13,816$13,161$12,539$10,755
6 years$12,567$11,845$11,165$10,525$9,922$8,221
7 years$10,664$9,948$9,278$8,653$8,069$6,451
8 years$9,236$8,527$7,869$7,259$6,694$5,159
9 years$8,127$7,424$6,777$6,183$5,637$4,183
10 years$7,240$6,544$5,909$5,330$4,803$3,429
11 years$6,515$5,826$5,202$4,638$4,131$2,834
12 years$5,911$5,229$4,617$4,068$3,580$2,357
13 years$5,400$4,725$4,125$3,592$3,122$1,972
14 years$4,963$4,295$3,706$3,188$2,736$1,656
15 years$4,584$3,924$3,346$2,844$2,409$1,396
16 years$4,253$3,600$3,034$2,546$2,129$1,181
17 years$3,961$3,316$2,760$2,288$1,888$1,001
18 years$3,702$3,064$2,520$2,062$1,679$850
19 years$3,471$2,839$2,307$1,863$1,496$723
20 years$3,263$2,639$2,117$1,687$1,337$616
21 years$3,075$2,458$1,947$1,531$1,196$525
22 years$2,904$2,294$1,795$1,392$1,072$449
23 years$2,748$2,146$1,657$1,268$962$384
24 years$2,606$2,010$1,533$1,156$865$328
25 years$2,475$1,887$1,420$1,056$778$281
26 years$2,354$1,773$1,317$966$701$240
27 years$2,243$1,669$1,223$884$632$206
28 years$2,140$1,572$1,136$810$570$177
29 years$2,044$1,483$1,058$743$515$151
30 years$1,954$1,401$985$682$465$130
31 years$1,871$1,324$918$626$421$111
32 years$1,792$1,253$857$575$381$96
33 years$1,719$1,187$800$529$344$82
34 years$1,650$1,125$748$487$312$70
35 years$1,586$1,067$699$448$282$60
36 years$1,525$1,013$654$413$256$52
37 years$1,467$962$612$380$232$45
38 years$1,413$914$573$350$210$38
39 years$1,361$869$537$323$191$33
40 years$1,312$827$503$298$173$28
41 years$1,266$787$472$275$157$24
42 years$1,222$750$443$254$142$21
43 years$1,180$714$415$234$129$18
44 years$1,141$681$390$216$117$15
45 years$1,103$649$366$200$106$13
46 years$1,067$619$344$185$97$11
47 years$1,032$591$323$170$88$10
48 years$999$564$304$158$80$8
49 years$967$539$285$146$72$7
50 years$937$515$268$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $960,000, adding $6,709 every year, while hoping to spend $42,145 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: 85/7/8 Blend
50$960,000$960,000$960,000$960,000
51$1,064,840$1,013,960$999,080$1,153,853
52$1,128,612$1,018,802$987,708$1,217,807
53$1,197,476$1,022,469$974,541$1,281,624
54$1,271,907$1,024,859$959,477$1,350,408
55$1,352,427$1,025,862$942,405$1,424,633
56$1,439,610$1,025,365$923,211$1,504,818
57$1,534,087$1,023,244$901,775$1,591,534
58$1,636,550$1,019,370$877,971$1,685,413
59$1,747,764$1,013,604$851,668$1,787,146
60$1,868,566$1,005,801$822,730$1,897,499
61$1,999,880$995,806$791,011$2,017,312
62$2,142,720$983,453$756,363$2,147,512
63$2,298,205$968,569$718,628$2,289,120
64$2,467,561$950,969$677,641$2,443,260
65$2,652,143$930,456$633,233$2,611,170
66$2,853,438$906,825$585,223$2,794,214
67$3,073,084$879,856$533,424$2,993,897
68$3,312,886$849,315$477,640$3,211,872
69$3,574,827$814,958$417,667$3,449,966
70$3,861,093$776,525$353,293$3,710,189
71$4,174,089$733,739$284,293$3,994,755
72$4,516,465$686,311$210,435$4,306,106
73$4,891,136$633,933$131,477$4,646,930
74$5,301,315$576,278$47,164$5,020,191
75$5,750,537$513,004$0$5,429,155
76$6,242,698$443,747$0$5,881,075
77$6,782,085$368,123$0$6,380,797
78$7,373,423$285,726$0$6,928,683
79$8,021,913$196,128$0$7,529,577
80$8,733,286$98,876$0$8,188,812
81$9,513,854$0$0$8,912,265
82$10,370,566$0$0$9,706,912
83$11,311,082$0$0$10,587,667
84$12,343,836$0$0$11,554,814
85$13,478,121$0$0$12,617,057
86$14,724,171$0$0$13,783,984
87$16,093,265$0$0$15,066,156
88$17,597,823$0$0$16,475,211
89$19,251,532$0$0$18,023,968
90$21,069,470$0$0$19,726,548
91$23,068,247$0$0$21,598,512
92$25,266,164$0$0$23,657,002
93$27,683,385$0$0$25,920,904
94$30,342,126$0$0$28,411,027
95$33,266,861$0$0$31,150,297
96$36,484,559$0$0$34,163,976
97$40,024,933$0$0$37,479,895
98$43,920,723$0$0$41,128,720
99$48,208,000$0$0$45,144,240
100$52,926,512$0$0$49,563,686