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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.5%
1 years$102,398$101,486$100,596$99,727$98,879$97,847
2 years$50,692$49,748$48,833$47,946$47,085$46,046
3 years$33,459$32,511$31,598$30,719$29,873$28,858
4 years$24,844$23,899$22,995$22,132$21,306$20,324
5 years$19,677$18,737$17,845$16,999$16,196$15,250
6 years$16,233$15,300$14,422$13,594$12,815$11,906
7 years$13,774$12,849$11,985$11,177$10,422$9,550
8 years$11,930$11,014$10,164$9,376$8,646$7,811
9 years$10,497$9,590$8,754$7,986$7,282$6,483
10 years$9,352$8,453$7,632$6,884$6,204$5,442
11 years$8,415$7,525$6,719$5,991$5,336$4,610
12 years$7,635$6,754$5,963$5,255$4,624$3,933
13 years$6,975$6,104$5,328$4,640$4,032$3,375
14 years$6,410$5,548$4,787$4,118$3,535$2,911
15 years$5,921$5,068$4,322$3,673$3,112$2,521
16 years$5,494$4,650$3,918$3,289$2,750$2,191
17 years$5,117$4,283$3,566$2,955$2,439$1,909
18 years$4,782$3,957$3,255$2,663$2,168$1,668
19 years$4,483$3,668$2,980$2,406$1,933$1,461
20 years$4,214$3,408$2,735$2,179$1,726$1,281
21 years$3,971$3,174$2,515$1,978$1,545$1,126
22 years$3,751$2,963$2,318$1,798$1,385$991
23 years$3,550$2,771$2,141$1,638$1,243$873
24 years$3,366$2,597$1,980$1,494$1,117$770
25 years$3,197$2,437$1,834$1,364$1,005$679
26 years$3,041$2,290$1,701$1,247$906$600
27 years$2,897$2,155$1,579$1,142$817$531
28 years$2,764$2,031$1,468$1,046$737$469
29 years$2,640$1,916$1,366$959$665$415
30 years$2,524$1,810$1,272$880$601$368
31 years$2,416$1,711$1,186$809$543$326
32 years$2,315$1,619$1,107$743$492$289
33 years$2,221$1,533$1,033$683$445$256
34 years$2,132$1,453$966$629$403$227
35 years$2,048$1,378$903$579$365$201
36 years$1,969$1,308$844$533$331$179
37 years$1,895$1,242$790$491$300$159
38 years$1,825$1,180$740$453$272$141
39 years$1,758$1,123$693$417$246$125
40 years$1,695$1,068$650$385$223$111
41 years$1,635$1,017$609$355$203$99
42 years$1,579$968$572$328$184$88
43 years$1,525$922$536$303$167$78
44 years$1,473$879$504$279$152$69
45 years$1,424$839$473$258$138$61
46 years$1,378$800$444$238$125$54
47 years$1,333$763$417$220$113$48
48 years$1,290$729$392$203$103$43
49 years$1,250$696$369$188$94$38
50 years$1,211$665$346$174$85$34

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 $6,211 every year, while hoping to spend $24,523 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: 76/16/8 Blend
49$1,240,000$1,240,000$1,240,000$1,240,000
50$1,372,887$1,307,167$1,287,947$1,475,138
51$1,486,829$1,345,126$1,305,001$1,581,209
52$1,611,571$1,384,122$1,321,804$1,693,690
53$1,748,189$1,424,183$1,338,322$1,816,275
54$1,897,868$1,465,331$1,354,520$1,949,957
55$2,061,912$1,507,594$1,370,358$2,095,829
56$2,241,758$1,550,997$1,385,796$2,255,097
57$2,438,989$1,595,567$1,400,791$2,429,086
58$2,655,347$1,641,331$1,415,299$2,619,258
59$2,892,752$1,688,316$1,429,271$2,827,221
60$3,153,320$1,736,550$1,442,658$3,054,747
61$3,439,379$1,786,061$1,455,408$3,303,786
62$3,753,495$1,836,878$1,467,463$3,576,489
63$4,098,494$1,889,028$1,478,766$3,875,223
64$4,477,492$1,942,541$1,489,256$4,202,594
65$4,893,916$1,997,446$1,498,867$4,561,477
66$5,351,548$2,053,773$1,507,531$4,955,034
67$5,854,549$2,111,551$1,515,176$5,386,752
68$6,407,506$2,170,810$1,521,728$5,860,472
69$7,015,472$2,231,581$1,527,106$6,380,423
70$7,684,015$2,293,893$1,531,229$6,951,266
71$8,419,267$2,357,776$1,534,008$7,578,137
72$9,227,987$2,423,262$1,535,351$8,266,693
73$10,117,619$2,490,379$1,535,163$9,023,166
74$11,096,368$2,559,160$1,533,343$9,854,425
75$12,173,273$2,629,633$1,529,785$10,768,035
76$13,358,291$2,701,830$1,524,377$11,772,334
77$14,662,396$2,775,779$1,517,003$12,876,508
78$16,097,679$2,851,511$1,507,542$14,090,677
79$17,677,463$2,929,055$1,495,865$15,425,994
80$19,416,425$3,008,440$1,481,837$16,894,746
81$21,330,742$3,089,695$1,465,320$18,510,474
82$23,438,234$3,172,847$1,446,165$20,288,098
83$25,758,542$3,257,923$1,424,219$22,244,055
84$28,313,303$3,344,952$1,399,320$24,396,462
85$31,126,362$3,433,957$1,371,300$26,765,279
86$34,223,995$3,524,964$1,339,982$29,372,502
87$37,635,152$3,617,998$1,305,182$32,242,366
88$41,391,737$3,713,079$1,266,705$35,401,579
89$45,528,905$3,810,230$1,224,350$38,879,572
90$50,085,393$3,909,471$1,177,905$42,708,773
91$55,103,887$4,010,820$1,127,149$46,924,919
92$60,631,426$4,114,292$1,071,851$51,567,388
93$66,719,843$4,219,904$1,011,770$56,679,576
94$73,426,255$4,327,667$946,652$62,309,299
95$80,813,602$4,437,592$876,233$68,509,252
96$88,951,241$4,549,685$800,239$75,337,501
97$97,915,600$4,663,953$718,380$82,858,034
98$107,790,902$4,780,397$630,356$91,141,364
99$118,669,953$4,899,016$535,852$100,265,194
100$130,655,026$5,019,805$434,541$110,315,149