Can I retire at age 51 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$79,441$78,733$78,043$77,369$76,711$75,721
2 years$39,327$38,595$37,885$37,197$36,529$35,533
3 years$25,958$25,222$24,514$23,832$23,176$22,205
4 years$19,274$18,541$17,840$17,170$16,529$15,590
5 years$15,265$14,536$13,845$13,188$12,565$11,662
6 years$12,593$11,870$11,188$10,547$9,942$9,075
7 years$10,686$9,968$9,298$8,671$8,086$7,255
8 years$9,256$8,545$7,885$7,274$6,708$5,914
9 years$8,144$7,440$6,791$6,196$5,649$4,891
10 years$7,255$6,558$5,921$5,341$4,813$4,091
11 years$6,528$5,838$5,213$4,648$4,140$3,452
12 years$5,923$5,240$4,626$4,077$3,587$2,934
13 years$5,411$4,735$4,133$3,599$3,128$2,508
14 years$4,973$4,304$3,714$3,195$2,742$2,155
15 years$4,594$3,932$3,353$2,849$2,414$1,858
16 years$4,262$3,608$3,040$2,551$2,134$1,608
17 years$3,970$3,322$2,766$2,292$1,892$1,396
18 years$3,710$3,070$2,525$2,066$1,682$1,214
19 years$3,478$2,845$2,312$1,867$1,499$1,059
20 years$3,270$2,644$2,122$1,691$1,339$925
21 years$3,081$2,463$1,951$1,534$1,199$809
22 years$2,910$2,299$1,799$1,395$1,074$708
23 years$2,754$2,150$1,661$1,271$964$621
24 years$2,611$2,015$1,536$1,159$867$545
25 years$2,480$1,891$1,422$1,058$780$479
26 years$2,359$1,777$1,319$968$703$421
27 years$2,248$1,672$1,225$886$633$371
28 years$2,144$1,576$1,139$812$572$326
29 years$2,048$1,486$1,060$744$516$287
30 years$1,958$1,404$987$683$466$253
31 years$1,875$1,327$920$627$422$223
32 years$1,796$1,256$859$576$381$197
33 years$1,723$1,189$802$530$345$174
34 years$1,654$1,127$749$488$312$153
35 years$1,589$1,069$700$449$283$135
36 years$1,528$1,015$655$414$256$119
37 years$1,470$964$613$381$232$105
38 years$1,416$916$574$351$211$93
39 years$1,364$871$538$324$191$82
40 years$1,315$829$504$299$173$73
41 years$1,269$789$473$276$157$64
42 years$1,225$751$444$254$143$57
43 years$1,183$716$416$235$129$50
44 years$1,143$682$391$217$118$44
45 years$1,105$651$367$200$107$39
46 years$1,069$621$345$185$97$35
47 years$1,034$592$324$171$88$31
48 years$1,001$565$304$158$80$27
49 years$969$540$286$146$73$24
50 years$939$516$269$135$66$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $962,000, adding $2,989 every year, while hoping to spend $46,715 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: 79/9/12 Blend
50$962,000$962,000$962,000$962,000
51$1,063,207$1,012,221$997,310$1,144,583
52$1,121,950$1,012,116$981,016$1,198,391
53$1,185,119$1,010,439$962,610$1,251,083
54$1,253,116$1,007,066$941,972$1,307,545
55$1,326,383$1,001,861$918,977$1,368,135
56$1,405,404$994,683$893,493$1,433,244
57$1,490,714$985,380$865,384$1,503,306
58$1,582,896$973,794$834,504$1,578,798
59$1,682,596$959,754$800,704$1,660,245
60$1,790,519$943,080$763,826$1,748,226
61$1,907,444$923,583$723,706$1,843,381
62$2,034,226$901,061$680,173$1,946,413
63$2,171,804$875,300$633,046$2,058,099
64$2,321,213$846,075$582,138$2,179,295
65$2,483,590$813,146$527,253$2,310,944
66$2,660,186$776,260$468,186$2,454,086
67$2,852,379$735,150$404,723$2,609,868
68$3,061,681$689,533$336,641$2,779,554
69$3,289,761$639,108$263,707$2,964,539
70$3,538,453$583,560$185,677$3,166,359
71$3,809,774$522,554$102,297$3,386,710
72$4,105,948$455,737$13,301$3,627,459
73$4,429,421$382,734$0$3,890,666
74$4,782,885$303,150$0$4,189,061
75$5,169,304$216,570$0$4,517,188
76$5,591,943$122,552$0$4,876,141
77$6,054,395$20,631$0$5,269,005
78$6,560,618$0$0$5,699,178
79$7,114,969$0$0$6,179,288
80$7,722,246$0$0$6,707,503
81$8,387,735$0$0$7,286,381
82$9,117,254$0$0$7,920,988
83$9,917,215$0$0$8,616,904
84$10,794,676$0$0$9,380,275
85$11,757,415$0$0$10,217,869
86$12,813,996$0$0$11,137,144
87$13,973,854$0$0$12,146,311
88$15,247,382$0$0$13,254,419
89$16,646,028$0$0$14,471,433
90$18,182,403$0$0$15,808,332
91$19,870,400$0$0$17,277,211
92$21,725,325$0$0$18,891,392
93$23,764,039$0$0$20,665,555
94$26,005,118$0$0$22,615,871
95$28,469,027$0$0$24,760,155
96$31,178,313$0$0$27,118,037
97$34,157,818$0$0$29,711,141
98$37,434,911$0$0$32,563,295
99$41,039,747$0$0$35,700,749
100$45,005,550$0$0$39,152,427