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%12.2%
1 years$242,782$240,620$238,510$236,451$234,440$232,281
2 years$120,189$117,951$115,782$113,678$111,638$109,463
3 years$79,330$77,082$74,918$72,835$70,828$68,704
4 years$58,905$56,664$54,521$52,473$50,515$48,459
5 years$46,653$44,425$42,311$40,305$38,401$36,418
6 years$38,487$36,276$34,193$32,232$30,385$28,479
7 years$32,657$30,465$28,415$26,500$24,711$22,882
8 years$28,287$26,114$24,098$22,230$20,500$18,748
9 years$24,889$22,737$20,756$18,935$17,264$15,588
10 years$22,172$20,041$18,095$16,322$14,710$13,109
11 years$19,951$17,842$15,931$14,205$12,651$11,124
12 years$18,102$16,014$14,138$12,460$10,963$9,509
13 years$16,538$14,472$12,632$11,000$9,560$8,176
14 years$15,199$13,154$11,349$9,765$8,380$7,066
15 years$14,039$12,017$10,247$8,708$7,379$6,131
16 years$13,025$11,025$9,290$7,797$6,521$5,339
17 years$12,132$10,154$8,454$7,006$5,782$4,663
18 years$11,338$9,383$7,717$6,314$5,141$4,083
19 years$10,629$8,696$7,065$5,705$4,583$3,583
20 years$9,992$8,080$6,484$5,167$4,093$3,150
21 years$9,416$7,527$5,964$4,689$3,663$2,774
22 years$8,893$7,026$5,497$4,264$3,283$2,446
23 years$8,417$6,571$5,075$3,883$2,947$2,160
24 years$7,981$6,157$4,694$3,542$2,649$1,909
25 years$7,580$5,778$4,347$3,234$2,384$1,689
26 years$7,210$5,430$4,032$2,957$2,147$1,496
27 years$6,869$5,110$3,744$2,707$1,936$1,326
28 years$6,553$4,816$3,480$2,480$1,747$1,176
29 years$6,259$4,543$3,239$2,274$1,577$1,043
30 years$5,985$4,290$3,017$2,087$1,425$926
31 years$5,729$4,056$2,813$1,917$1,289$822
32 years$5,489$3,838$2,624$1,762$1,166$731
33 years$5,265$3,634$2,450$1,620$1,055$649
34 years$5,054$3,444$2,289$1,491$955$577
35 years$4,856$3,267$2,140$1,372$865$513
36 years$4,669$3,101$2,002$1,264$784$457
37 years$4,493$2,945$1,874$1,164$710$406
38 years$4,327$2,799$1,755$1,073$644$362
39 years$4,169$2,661$1,644$990$584$322
40 years$4,019$2,532$1,541$913$530$286
41 years$3,878$2,410$1,445$842$481$255
42 years$3,743$2,296$1,356$777$436$227
43 years$3,615$2,187$1,272$717$396$202
44 years$3,493$2,085$1,194$662$359$180
45 years$3,377$1,988$1,121$612$326$160
46 years$3,266$1,897$1,053$565$296$143
47 years$3,161$1,810$989$522$269$127
48 years$3,060$1,728$930$482$244$113
49 years$2,963$1,650$874$446$222$101
50 years$2,870$1,576$821$412$201$90

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 $6,029 every year, while hoping to spend $47,721 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: 48/47/5 Blend
49$2,940,000$2,940,000$2,940,000$2,940,000
50$3,246,099$3,090,279$3,044,709$3,397,534
51$3,526,426$3,190,928$3,095,932$3,602,284
52$3,833,748$3,294,909$3,147,271$3,818,882
53$4,170,766$3,402,336$3,198,681$4,052,893
54$4,540,458$3,513,324$3,250,111$4,305,950
55$4,946,104$3,627,996$3,301,509$4,579,842
56$5,391,315$3,746,476$3,352,818$4,876,540
57$5,880,069$3,868,894$3,403,978$5,198,208
58$6,416,751$3,995,384$3,454,925$5,547,229
59$7,006,186$4,126,085$3,505,592$5,926,221
60$7,653,694$4,261,140$3,555,906$6,338,064
61$8,365,133$4,400,698$3,605,792$6,785,927
62$9,146,959$4,544,914$3,655,167$7,273,296
63$10,006,280$4,693,947$3,703,947$7,804,007
64$10,950,933$4,847,962$3,752,041$8,382,280
65$11,989,545$5,007,130$3,799,352$9,012,761
66$13,131,628$5,171,628$3,845,779$9,700,560
67$14,387,656$5,341,640$3,891,215$10,451,305
68$15,769,172$5,517,355$3,935,546$11,271,189
69$17,288,893$5,698,971$3,978,652$12,167,030
70$18,960,830$5,886,690$4,020,406$13,146,332
71$20,800,421$6,080,725$4,060,677$14,217,361
72$22,824,677$6,281,293$4,099,322$15,389,214
73$25,052,339$6,488,622$4,136,195$16,671,908
74$27,504,058$6,702,945$4,171,138$18,076,476
75$30,202,589$6,924,506$4,203,988$19,615,065
76$33,173,003$7,153,557$4,234,572$21,301,053
77$36,442,926$7,390,358$4,262,707$23,149,171
78$40,042,800$7,635,181$4,288,202$25,175,647
79$44,006,165$7,888,304$4,310,857$27,398,349
80$48,369,982$8,150,019$4,330,459$29,836,960
81$53,174,976$8,420,627$4,346,785$32,513,161
82$58,466,025$8,700,439$4,359,604$35,450,831
83$64,292,578$8,989,778$4,368,669$38,676,274
84$70,709,124$9,288,981$4,373,722$42,218,465
85$77,775,707$9,598,393$4,374,494$46,109,322
86$85,558,490$9,918,375$4,370,701$50,384,006
87$94,130,382$10,249,301$4,362,045$55,081,252
88$103,571,721$10,591,558$4,348,214$60,243,731
89$113,971,039$10,945,546$4,328,881$65,918,453
90$125,425,889$11,311,682$4,303,703$72,157,208
91$138,043,773$11,690,398$4,272,321$79,017,056
92$151,943,151$12,082,141$4,234,357$86,560,857
93$167,254,562$12,487,375$4,189,417$94,857,871
94$184,121,852$12,906,581$4,137,087$103,984,404
95$202,703,537$13,340,260$4,076,936$114,024,527
96$223,174,293$13,788,928$4,008,508$125,070,871
97$245,726,609$14,253,123$3,931,331$137,225,493
98$270,572,600$14,733,403$3,844,908$150,600,846
99$297,946,011$15,230,345$3,748,718$165,320,828
100$328,104,423$15,744,551$3,642,219$181,521,959