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%12%
1 years$242,782$240,620$238,510$236,451$234,440$232,475
2 years$120,189$117,951$115,782$113,678$111,638$109,658
3 years$79,330$77,082$74,918$72,835$70,828$68,894
4 years$58,905$56,664$54,521$52,473$50,515$48,642
5 years$46,653$44,425$42,311$40,305$38,401$36,594
6 years$38,487$36,276$34,193$32,232$30,385$28,647
7 years$32,657$30,465$28,415$26,500$24,711$23,042
8 years$28,287$26,114$24,098$22,230$20,500$18,901
9 years$24,889$22,737$20,756$18,935$17,264$15,734
10 years$22,172$20,041$18,095$16,322$14,710$13,247
11 years$19,951$17,842$15,931$14,205$12,651$11,255
12 years$18,102$16,014$14,138$12,460$10,963$9,633
13 years$16,538$14,472$12,632$11,000$9,560$8,294
14 years$15,199$13,154$11,349$9,765$8,380$7,177
15 years$14,039$12,017$10,247$8,708$7,379$6,236
16 years$13,025$11,025$9,290$7,797$6,521$5,438
17 years$12,132$10,154$8,454$7,006$5,782$4,756
18 years$11,338$9,383$7,717$6,314$5,141$4,170
19 years$10,629$8,696$7,065$5,705$4,583$3,665
20 years$9,992$8,080$6,484$5,167$4,093$3,226
21 years$9,416$7,527$5,964$4,689$3,663$2,846
22 years$8,893$7,026$5,497$4,264$3,283$2,513
23 years$8,417$6,571$5,075$3,883$2,947$2,222
24 years$7,981$6,157$4,694$3,542$2,649$1,968
25 years$7,580$5,778$4,347$3,234$2,384$1,744
26 years$7,210$5,430$4,032$2,957$2,147$1,546
27 years$6,869$5,110$3,744$2,707$1,936$1,373
28 years$6,553$4,816$3,480$2,480$1,747$1,219
29 years$6,259$4,543$3,239$2,274$1,577$1,083
30 years$5,985$4,290$3,017$2,087$1,425$963
31 years$5,729$4,056$2,813$1,917$1,289$857
32 years$5,489$3,838$2,624$1,762$1,166$763
33 years$5,265$3,634$2,450$1,620$1,055$679
34 years$5,054$3,444$2,289$1,491$955$605
35 years$4,856$3,267$2,140$1,372$865$539
36 years$4,669$3,101$2,002$1,264$784$480
37 years$4,493$2,945$1,874$1,164$710$428
38 years$4,327$2,799$1,755$1,073$644$381
39 years$4,169$2,661$1,644$990$584$340
40 years$4,019$2,532$1,541$913$530$303
41 years$3,878$2,410$1,445$842$481$270
42 years$3,743$2,296$1,356$777$436$241
43 years$3,615$2,187$1,272$717$396$215
44 years$3,493$2,085$1,194$662$359$192
45 years$3,377$1,988$1,121$612$326$171
46 years$3,266$1,897$1,053$565$296$153
47 years$3,161$1,810$989$522$269$136
48 years$3,060$1,728$930$482$244$122
49 years$2,963$1,650$874$446$222$109
50 years$2,870$1,576$821$412$201$97

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 $4,649 every year, while hoping to spend $43,058 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: 61/9/30 Blend
49$2,940,000$2,940,000$2,940,000$2,940,000
50$3,244,675$3,088,855$3,043,285$3,415,958
51$3,529,819$3,194,396$3,099,422$3,638,887
52$3,842,604$3,303,665$3,155,996$3,877,115
53$4,185,805$3,416,799$3,212,977$4,136,283
54$4,562,476$3,533,942$3,270,331$4,418,449
55$4,975,984$3,655,241$3,328,023$4,725,878
56$5,430,036$3,780,849$3,386,014$5,061,065
57$5,928,717$3,910,928$3,444,262$5,426,758
58$6,476,524$4,045,642$3,502,723$5,825,982
59$7,078,415$4,185,163$3,561,350$6,262,072
60$7,739,850$4,329,672$3,620,091$6,738,699
61$8,466,842$4,479,354$3,678,892$7,259,907
62$9,266,020$4,634,403$3,737,695$7,830,152
63$10,144,685$4,795,019$3,796,438$8,454,340
64$11,110,879$4,961,412$3,855,055$9,137,880
65$12,173,466$5,133,798$3,913,477$9,886,726
66$13,342,209$5,312,403$3,971,627$10,707,440
67$14,627,865$5,497,462$4,029,428$11,607,253
68$16,042,288$5,689,218$4,086,794$12,594,128
69$17,598,537$5,887,926$4,143,638$13,676,842
70$19,311,002$6,093,848$4,199,863$14,865,062
71$21,195,536$6,307,259$4,255,371$16,169,442
72$23,269,610$6,528,443$4,310,055$17,601,718
73$25,552,471$6,757,698$4,363,803$19,174,823
74$28,065,329$6,995,331$4,416,496$20,903,008
75$30,831,553$7,241,663$4,468,009$22,801,973
76$33,876,894$7,497,027$4,518,210$24,889,019
77$37,229,727$7,761,771$4,566,960$27,183,210
78$40,921,316$8,036,255$4,614,110$29,705,551
79$44,986,113$8,320,854$4,659,506$32,479,189
80$49,462,081$8,615,960$4,702,983$35,529,628
81$54,391,050$8,921,979$4,744,370$38,884,975
82$59,819,114$9,239,333$4,783,484$42,576,198
83$65,797,067$9,568,464$4,820,133$46,637,423
84$72,380,878$9,909,828$4,854,118$51,106,256
85$79,632,221$10,263,903$4,885,224$56,024,135
86$87,619,059$10,631,186$4,913,231$61,436,723
87$96,416,281$11,012,193$4,937,902$67,394,340
88$106,106,413$11,407,461$4,958,993$73,952,434
89$116,780,392$11,817,551$4,976,244$81,172,110
90$128,538,427$12,243,046$4,989,383$89,120,701
91$141,490,944$12,684,553$4,998,125$97,872,406
92$155,759,628$13,142,704$5,002,170$107,508,992
93$171,478,571$13,618,158$5,001,204$118,120,562
94$188,795,538$14,111,600$4,994,897$129,806,411
95$207,873,358$14,623,744$4,982,901$142,675,956
96$228,891,468$15,155,335$4,964,856$156,849,775
97$252,047,599$15,707,147$4,940,379$172,460,744
98$277,559,644$16,279,987$4,909,072$189,655,287
99$305,667,719$16,874,697$4,870,517$208,594,765
100$336,636,422$17,492,154$4,824,276$229,456,994