Can I retire at age 50 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$102,398$101,486$100,596$99,727$98,879$96,804
2 years$50,692$49,748$48,833$47,946$47,085$45,004
3 years$33,459$32,511$31,598$30,719$29,873$27,851
4 years$24,844$23,899$22,995$22,132$21,306$19,358
5 years$19,677$18,737$17,845$16,999$16,196$14,329
6 years$16,233$15,300$14,422$13,594$12,815$11,031
7 years$13,774$12,849$11,985$11,177$10,422$8,720
8 years$11,930$11,014$10,164$9,376$8,646$7,026
9 years$10,497$9,590$8,754$7,986$7,282$5,742
10 years$9,352$8,453$7,632$6,884$6,204$4,745
11 years$8,415$7,525$6,719$5,991$5,336$3,954
12 years$7,635$6,754$5,963$5,255$4,624$3,317
13 years$6,975$6,104$5,328$4,640$4,032$2,799
14 years$6,410$5,548$4,787$4,118$3,535$2,372
15 years$5,921$5,068$4,322$3,673$3,112$2,018
16 years$5,494$4,650$3,918$3,289$2,750$1,722
17 years$5,117$4,283$3,566$2,955$2,439$1,473
18 years$4,782$3,957$3,255$2,663$2,168$1,263
19 years$4,483$3,668$2,980$2,406$1,933$1,085
20 years$4,214$3,408$2,735$2,179$1,726$934
21 years$3,971$3,174$2,515$1,978$1,545$805
22 years$3,751$2,963$2,318$1,798$1,385$694
23 years$3,550$2,771$2,141$1,638$1,243$599
24 years$3,366$2,597$1,980$1,494$1,117$518
25 years$3,197$2,437$1,834$1,364$1,005$448
26 years$3,041$2,290$1,701$1,247$906$388
27 years$2,897$2,155$1,579$1,142$817$335
28 years$2,764$2,031$1,468$1,046$737$291
29 years$2,640$1,916$1,366$959$665$252
30 years$2,524$1,810$1,272$880$601$218
31 years$2,416$1,711$1,186$809$543$189
32 years$2,315$1,619$1,107$743$492$164
33 years$2,221$1,533$1,033$683$445$142
34 years$2,132$1,453$966$629$403$124
35 years$2,048$1,378$903$579$365$107
36 years$1,969$1,308$844$533$331$93
37 years$1,895$1,242$790$491$300$81
38 years$1,825$1,180$740$453$272$70
39 years$1,758$1,123$693$417$246$61
40 years$1,695$1,068$650$385$223$53
41 years$1,635$1,017$609$355$203$46
42 years$1,579$968$572$328$184$40
43 years$1,525$922$536$303$167$35
44 years$1,473$879$504$279$152$30
45 years$1,424$839$473$258$138$26
46 years$1,378$800$444$238$125$23
47 years$1,333$763$417$220$113$20
48 years$1,290$729$392$203$103$17
49 years$1,250$696$369$188$94$15
50 years$1,211$665$346$174$85$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $1,240,000, adding $3,912 every year, while hoping to spend $48,720 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: 52/33/15 Blend
49$1,240,000$1,240,000$1,240,000$1,240,000
50$1,370,515$1,304,795$1,285,575$1,436,038
51$1,458,470$1,316,892$1,276,804$1,493,415
52$1,553,763$1,327,950$1,266,107$1,550,312
53$1,657,092$1,337,864$1,253,366$1,611,106
54$1,769,224$1,346,527$1,238,462$1,676,179
55$1,891,000$1,353,823$1,221,266$1,745,955
56$2,023,349$1,359,627$1,201,645$1,820,901
57$2,167,291$1,363,809$1,179,461$1,901,535
58$2,323,948$1,366,229$1,154,566$1,988,430
59$2,494,555$1,366,739$1,126,809$2,082,219
60$2,680,472$1,365,181$1,096,029$2,183,601
61$2,883,193$1,361,388$1,062,059$2,293,350
62$3,104,365$1,355,183$1,024,724$2,412,320
63$3,345,800$1,346,377$983,842$2,541,456
64$3,609,493$1,334,770$939,222$2,681,803
65$3,897,638$1,320,150$890,663$2,834,514
66$4,212,653$1,302,294$837,956$3,000,866
67$4,557,200$1,280,963$780,884$3,182,266
68$4,934,209$1,255,904$719,218$3,380,272
69$5,346,905$1,226,851$652,719$3,596,602
70$5,798,844$1,193,520$581,139$3,833,158
71$6,293,936$1,155,613$504,217$4,092,037
72$6,836,492$1,112,812$421,683$4,375,558
73$7,431,256$1,064,782$333,251$4,686,278
74$8,083,456$1,011,168$238,627$5,027,026
75$8,798,847$951,595$137,500$5,400,921
76$9,583,772$885,665$29,548$5,811,411
77$10,445,213$812,959$0$6,262,301
78$11,390,864$733,033$0$6,771,499
79$12,429,198$645,418$0$7,335,872
80$13,569,552$549,619$0$7,955,863
81$14,822,208$445,112$0$8,637,183
82$16,198,494$331,343$0$9,386,133
83$17,710,891$207,729$0$10,209,660
84$19,373,147$73,653$0$11,115,430
85$21,200,409$0$0$12,111,897
86$23,209,364$0$0$13,234,362
87$25,418,399$0$0$14,498,163
88$27,847,767$0$0$15,888,159
89$30,519,788$0$0$17,417,137
90$33,459,047$0$0$19,099,185
91$36,692,639$0$0$20,949,825
92$40,250,410$0$0$22,986,160
93$44,165,251$0$0$25,227,033
94$48,473,398$0$0$27,693,209
95$53,214,780$0$0$30,407,565
96$58,433,391$0$0$33,395,309
97$64,177,708$0$0$36,684,218
98$70,501,145$0$0$40,304,897
99$77,462,558$0$0$44,291,070
100$85,126,799$0$0$48,679,897