Can I retire at age 51 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$81,588$80,861$80,152$79,460$78,785$76,477
2 years$40,390$39,638$38,909$38,202$37,516$35,210
3 years$26,659$25,904$25,177$24,476$23,802$21,570
4 years$19,795$19,042$18,322$17,634$16,976$14,834
5 years$15,678$14,929$14,219$13,545$12,905$10,860
6 years$12,934$12,191$11,491$10,832$10,211$8,265
7 years$10,975$10,238$9,549$8,905$8,304$6,456
8 years$9,506$8,776$8,098$7,470$6,889$5,139
9 years$8,364$7,641$6,975$6,363$5,802$4,147
10 years$7,451$6,735$6,081$5,485$4,943$3,382
11 years$6,705$5,996$5,354$4,774$4,251$2,781
12 years$6,083$5,382$4,751$4,187$3,684$2,301
13 years$5,558$4,863$4,245$3,697$3,213$1,914
14 years$5,108$4,421$3,814$3,281$2,816$1,599
15 years$4,718$4,038$3,444$2,926$2,480$1,341
16 years$4,377$3,705$3,122$2,620$2,192$1,127
17 years$4,077$3,412$2,841$2,354$1,943$950
18 years$3,810$3,153$2,593$2,122$1,728$802
19 years$3,572$2,922$2,374$1,917$1,540$678
20 years$3,358$2,715$2,179$1,736$1,376$574
21 years$3,164$2,529$2,004$1,576$1,231$487
22 years$2,989$2,361$1,847$1,433$1,103$413
23 years$2,829$2,208$1,706$1,305$990$351
24 years$2,682$2,069$1,577$1,190$890$298
25 years$2,547$1,942$1,461$1,087$801$254
26 years$2,423$1,825$1,355$994$722$216
27 years$2,308$1,717$1,258$910$651$184
28 years$2,202$1,618$1,170$833$587$156
29 years$2,103$1,527$1,088$764$530$133
30 years$2,011$1,442$1,014$701$479$113
31 years$1,925$1,363$945$644$433$97
32 years$1,845$1,290$882$592$392$82
33 years$1,769$1,221$823$544$354$70
34 years$1,699$1,158$769$501$321$60
35 years$1,632$1,098$719$461$291$51
36 years$1,569$1,042$673$425$263$44
37 years$1,510$990$630$391$239$37
38 years$1,454$941$590$361$216$32
39 years$1,401$894$553$333$196$27
40 years$1,351$851$518$307$178$23
41 years$1,303$810$486$283$161$20
42 years$1,258$771$456$261$147$17
43 years$1,215$735$427$241$133$14
44 years$1,174$701$401$223$121$12
45 years$1,135$668$377$206$110$10
46 years$1,098$637$354$190$100$9
47 years$1,062$608$332$175$90$8
48 years$1,028$581$312$162$82$6
49 years$996$554$294$150$75$6
50 years$965$530$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 51 starting with $988,000, adding $4,067 every year, while hoping to spend $59,178 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: 58/13/29 Blend
50$988,000$988,000$988,000$988,000
51$1,092,971$1,040,607$1,025,293$1,147,471
52$1,141,489$1,028,632$996,675$1,173,325
53$1,192,973$1,014,087$965,116$1,194,938
54$1,247,662$996,783$930,453$1,217,298
55$1,305,819$976,520$892,519$1,240,496
56$1,367,731$953,089$851,137$1,264,634
57$1,433,713$926,263$806,123$1,289,826
58$1,504,109$895,807$757,285$1,316,204
59$1,579,296$861,470$704,423$1,343,914
60$1,659,688$822,986$647,325$1,373,122
61$1,745,738$780,074$585,772$1,404,013
62$1,837,944$732,438$519,535$1,436,796
63$1,936,849$679,763$448,375$1,471,705
64$2,043,054$621,717$372,041$1,509,002
65$2,157,213$557,949$290,273$1,548,981
66$2,280,048$488,088$202,796$1,591,971
67$2,412,351$411,742$109,328$1,638,339
68$2,554,990$328,497$9,570$1,688,495
69$2,708,921$237,915$0$1,742,897
70$2,875,193$139,534$0$1,832,036
71$3,054,957$32,867$0$1,931,610
72$3,249,483$0$0$2,039,394
73$3,460,162$0$0$2,168,019
74$3,688,526$0$0$2,312,608
75$3,936,259$0$0$2,469,533
76$4,205,214$0$0$2,639,977
77$4,497,426$0$0$2,825,241
78$4,815,138$0$0$3,026,756
79$5,160,814$0$0$3,246,095
80$5,537,166$0$0$3,484,991
81$5,947,180$0$0$3,745,350
82$6,394,140$0$0$4,029,270
83$6,881,661$0$0$4,339,059
84$7,413,721$0$0$4,677,258
85$7,994,701$0$0$5,046,667
86$8,629,421$0$0$5,450,363
87$9,323,189$0$0$5,891,737
88$10,081,849$0$0$6,374,523
89$10,911,835$0$0$6,902,831
90$11,820,231$0$0$7,481,187
91$12,814,838$0$0$8,114,574
92$13,904,247$0$0$8,808,482
93$15,097,917$0$0$9,568,954
94$16,406,269$0$0$10,402,647
95$17,840,775$0$0$11,316,893
96$19,414,075$0$0$12,319,768
97$21,140,088$0$0$13,420,165
98$23,034,147$0$0$14,627,882
99$25,113,139$0$0$15,953,710
100$27,395,667$0$0$17,409,536