Can I retire at age 50 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$242,782$240,620$238,510$236,451$234,440$232,573
2 years$120,189$117,951$115,782$113,678$111,638$109,756
3 years$79,330$77,082$74,918$72,835$70,828$68,989
4 years$58,905$56,664$54,521$52,473$50,515$48,734
5 years$46,653$44,425$42,311$40,305$38,401$36,682
6 years$38,487$36,276$34,193$32,232$30,385$28,731
7 years$32,657$30,465$28,415$26,500$24,711$23,123
8 years$28,287$26,114$24,098$22,230$20,500$18,978
9 years$24,889$22,737$20,756$18,935$17,264$15,807
10 years$22,172$20,041$18,095$16,322$14,710$13,317
11 years$19,951$17,842$15,931$14,205$12,651$11,322
12 years$18,102$16,014$14,138$12,460$10,963$9,696
13 years$16,538$14,472$12,632$11,000$9,560$8,354
14 years$15,199$13,154$11,349$9,765$8,380$7,233
15 years$14,039$12,017$10,247$8,708$7,379$6,289
16 years$13,025$11,025$9,290$7,797$6,521$5,488
17 years$12,132$10,154$8,454$7,006$5,782$4,803
18 years$11,338$9,383$7,717$6,314$5,141$4,214
19 years$10,629$8,696$7,065$5,705$4,583$3,706
20 years$9,992$8,080$6,484$5,167$4,093$3,265
21 years$9,416$7,527$5,964$4,689$3,663$2,882
22 years$8,893$7,026$5,497$4,264$3,283$2,547
23 years$8,417$6,571$5,075$3,883$2,947$2,254
24 years$7,981$6,157$4,694$3,542$2,649$1,997
25 years$7,580$5,778$4,347$3,234$2,384$1,771
26 years$7,210$5,430$4,032$2,957$2,147$1,572
27 years$6,869$5,110$3,744$2,707$1,936$1,397
28 years$6,553$4,816$3,480$2,480$1,747$1,241
29 years$6,259$4,543$3,239$2,274$1,577$1,104
30 years$5,985$4,290$3,017$2,087$1,425$983
31 years$5,729$4,056$2,813$1,917$1,289$875
32 years$5,489$3,838$2,624$1,762$1,166$779
33 years$5,265$3,634$2,450$1,620$1,055$694
34 years$5,054$3,444$2,289$1,491$955$619
35 years$4,856$3,267$2,140$1,372$865$552
36 years$4,669$3,101$2,002$1,264$784$492
37 years$4,493$2,945$1,874$1,164$710$439
38 years$4,327$2,799$1,755$1,073$644$391
39 years$4,169$2,661$1,644$990$584$349
40 years$4,019$2,532$1,541$913$530$312
41 years$3,878$2,410$1,445$842$481$278
42 years$3,743$2,296$1,356$777$436$248
43 years$3,615$2,187$1,272$717$396$222
44 years$3,493$2,085$1,194$662$359$198
45 years$3,377$1,988$1,121$612$326$177
46 years$3,266$1,897$1,053$565$296$158
47 years$3,161$1,810$989$522$269$141
48 years$3,060$1,728$930$482$244$126
49 years$2,963$1,650$874$446$222$113
50 years$2,870$1,576$821$412$201$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $2,940,000, adding $6,784 every year, while hoping to spend $31,531 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: 71/11/18 Blend
49$2,940,000$2,940,000$2,940,000$2,940,000
50$3,246,878$3,091,058$3,045,488$3,463,065
51$3,544,510$3,208,971$3,113,963$3,725,682
52$3,871,445$3,331,605$3,183,675$4,008,690
53$4,230,637$3,459,158$3,254,633$4,317,739
54$4,625,342$3,591,837$3,326,843$4,655,401
55$5,059,147$3,729,857$3,400,312$5,024,510
56$5,536,004$3,873,444$3,475,046$5,428,184
57$6,060,266$4,022,832$3,551,050$5,869,857
58$6,636,730$4,178,268$3,628,327$6,353,313
59$7,270,680$4,340,006$3,706,880$6,882,714
60$7,967,939$4,508,316$3,786,710$7,462,649
61$8,734,921$4,683,476$3,867,817$8,098,168
62$9,578,694$4,865,778$3,950,200$8,794,836
63$10,507,046$5,055,526$4,033,857$9,558,779
64$11,528,556$5,253,038$4,118,783$10,396,747
65$12,652,679$5,458,647$4,204,972$11,316,175
66$13,889,830$5,672,699$4,292,417$12,325,251
67$15,251,489$5,895,558$4,381,109$13,432,996
68$16,750,301$6,127,600$4,471,036$14,649,347
69$18,400,201$6,369,222$4,562,186$15,985,249
70$20,216,545$6,620,837$4,654,542$17,452,762
71$22,216,250$6,882,876$4,748,087$19,065,170
72$24,417,960$7,155,789$4,842,800$20,837,108
73$26,842,218$7,440,049$4,938,660$22,784,699
74$29,511,659$7,736,146$5,035,640$24,925,707
75$32,451,227$8,044,596$5,133,712$27,279,700
76$35,688,406$8,365,935$5,232,845$29,868,241
77$39,253,482$8,700,724$5,333,005$32,715,085
78$43,179,830$9,049,552$5,434,153$35,846,404
79$47,504,223$9,413,031$5,536,247$39,291,035
80$52,267,186$9,791,802$5,639,244$43,080,751
81$57,513,374$10,186,535$5,743,093$47,250,558
82$63,291,993$10,597,930$5,847,742$51,839,028
83$69,657,267$11,026,719$5,953,132$56,888,662
84$76,668,948$11,473,669$6,059,202$62,446,286
85$84,392,880$11,939,577$6,165,885$68,563,499
86$92,901,620$12,425,282$6,273,107$75,297,153
87$102,275,122$12,931,658$6,380,793$82,709,894
88$112,601,493$13,459,618$6,488,859$90,870,749
89$123,977,825$14,010,119$6,597,215$99,855,778
90$136,511,109$14,584,161$6,705,768$109,748,790
91$150,319,246$15,182,788$6,814,414$120,642,137
92$165,532,158$15,807,094$6,923,046$132,637,578
93$182,293,019$16,458,222$7,031,549$145,847,244
94$200,759,599$17,137,368$7,139,799$160,394,697
95$221,105,761$17,845,781$7,247,664$176,416,087
96$243,523,095$18,584,771$7,355,007$194,061,445
97$268,222,730$19,355,704$7,461,679$213,496,093
98$295,437,326$20,160,011$7,567,524$234,902,206
99$325,423,271$20,999,190$7,672,374$258,480,528
100$358,463,101$21,874,806$7,776,054$284,452,269