Can I retire at age 51 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$80,927$80,207$79,503$78,817$78,147$77,011
2 years$40,063$39,317$38,594$37,893$37,213$36,071
3 years$26,443$25,694$24,973$24,278$23,609$22,496
4 years$19,635$18,888$18,174$17,491$16,838$15,764
5 years$15,551$14,808$14,104$13,435$12,800$11,767
6 years$12,829$12,092$11,398$10,744$10,128$9,137
7 years$10,886$10,155$9,472$8,833$8,237$7,288
8 years$9,429$8,705$8,033$7,410$6,833$5,927
9 years$8,296$7,579$6,919$6,312$5,755$4,891
10 years$7,391$6,680$6,032$5,441$4,903$4,081
11 years$6,650$5,947$5,310$4,735$4,217$3,435
12 years$6,034$5,338$4,713$4,153$3,654$2,912
13 years$5,513$4,824$4,211$3,667$3,187$2,483
14 years$5,066$4,385$3,783$3,255$2,793$2,127
15 years$4,680$4,006$3,416$2,903$2,460$1,830
16 years$4,342$3,675$3,097$2,599$2,174$1,579
17 years$4,044$3,385$2,818$2,335$1,927$1,366
18 years$3,779$3,128$2,572$2,105$1,714$1,185
19 years$3,543$2,899$2,355$1,902$1,528$1,030
20 years$3,331$2,693$2,161$1,722$1,364$897
21 years$3,139$2,509$1,988$1,563$1,221$783
22 years$2,964$2,342$1,832$1,421$1,094$683
23 years$2,806$2,190$1,692$1,294$982$597
24 years$2,660$2,052$1,565$1,181$883$523
25 years$2,527$1,926$1,449$1,078$795$458
26 years$2,403$1,810$1,344$986$716$401
27 years$2,290$1,703$1,248$902$645$352
28 years$2,184$1,605$1,160$827$582$309
29 years$2,086$1,514$1,080$758$526$271
30 years$1,995$1,430$1,006$696$475$238
31 years$1,910$1,352$938$639$430$209
32 years$1,830$1,279$875$587$389$184
33 years$1,755$1,211$817$540$352$162
34 years$1,685$1,148$763$497$318$142
35 years$1,619$1,089$713$457$288$125
36 years$1,556$1,034$667$421$261$110
37 years$1,498$982$625$388$237$97
38 years$1,442$933$585$358$215$85
39 years$1,390$887$548$330$195$75
40 years$1,340$844$514$304$177$66
41 years$1,293$803$482$281$160$58
42 years$1,248$765$452$259$145$51
43 years$1,205$729$424$239$132$45
44 years$1,164$695$398$221$120$40
45 years$1,126$663$374$204$109$35
46 years$1,089$632$351$188$99$31
47 years$1,054$603$330$174$90$27
48 years$1,020$576$310$161$81$24
49 years$988$550$291$149$74$21
50 years$957$525$274$137$67$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $980,000, adding $5,678 every year, while hoping to spend $58,654 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: 39/49/12 Blend
50$980,000$980,000$980,000$980,000
51$1,085,817$1,033,877$1,018,687$1,124,026
52$1,134,163$1,022,129$990,405$1,139,887
53$1,185,474$1,007,841$959,211$1,150,860
54$1,239,992$990,824$924,943$1,161,431
55$1,297,978$970,881$887,436$1,171,592
56$1,359,722$947,805$846,515$1,181,338
57$1,425,538$921,371$801,998$1,190,667
58$1,495,771$891,347$753,694$1,199,584
59$1,570,801$857,484$701,403$1,208,100
60$1,651,041$819,519$644,919$1,216,232
61$1,736,946$777,175$584,023$1,224,005
62$1,829,015$730,157$518,488$1,231,455
63$1,927,794$678,154$448,076$1,238,628
64$2,033,883$620,838$372,542$1,245,582
65$2,147,942$557,861$291,624$1,252,389
66$2,270,692$488,857$205,054$1,259,139
67$2,402,928$413,436$112,549$1,265,938
68$2,545,522$331,190$13,814$1,272,914
69$2,699,432$241,685$0$1,280,218
70$2,865,710$144,463$0$1,299,750
71$3,045,513$39,042$0$1,322,645
72$3,240,111$0$0$1,347,416
73$3,450,904$0$0$1,414,875
74$3,679,427$0$0$1,510,939
75$3,927,370$0$0$1,615,282
76$4,196,591$0$0$1,728,701
77$4,489,135$0$0$1,852,071
78$4,807,249$0$0$1,986,356
79$5,153,408$0$0$2,132,618
80$5,530,334$0$0$2,292,023
81$5,941,022$0$0$2,465,857
82$6,388,767$0$0$2,655,533
83$6,877,198$0$0$2,862,609
84$7,410,308$0$0$3,088,797
85$7,992,491$0$0$3,335,983
86$8,628,586$0$0$3,606,245
87$9,323,920$0$0$3,901,868
88$10,084,357$0$0$4,225,370
89$10,916,355$0$0$4,579,522
90$11,827,024$0$0$4,967,378
91$12,824,192$0$0$5,392,298
92$13,916,483$0$0$5,857,986
93$15,113,390$0$0$6,368,517
94$16,425,370$0$0$6,928,382
95$17,863,941$0$0$7,542,527
96$19,441,786$0$0$8,216,399
97$21,172,877$0$0$8,956,000
98$23,072,602$0$0$9,767,938
99$25,157,911$0$0$10,659,493
100$27,447,477$0$0$11,638,688