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%11.6%
1 years$242,782$240,620$238,510$236,451$234,440$232,865
2 years$120,189$117,951$115,782$113,678$111,638$110,049
3 years$79,330$77,082$74,918$72,835$70,828$69,275
4 years$58,905$56,664$54,521$52,473$50,515$49,010
5 years$46,653$44,425$42,311$40,305$38,401$36,948
6 years$38,487$36,276$34,193$32,232$30,385$28,986
7 years$32,657$30,465$28,415$26,500$24,711$23,367
8 years$28,287$26,114$24,098$22,230$20,500$19,211
9 years$24,889$22,737$20,756$18,935$17,264$16,029
10 years$22,172$20,041$18,095$16,322$14,710$13,529
11 years$19,951$17,842$15,931$14,205$12,651$11,523
12 years$18,102$16,014$14,138$12,460$10,963$9,886
13 years$16,538$14,472$12,632$11,000$9,560$8,534
14 years$15,199$13,154$11,349$9,765$8,380$7,404
15 years$14,039$12,017$10,247$8,708$7,379$6,451
16 years$13,025$11,025$9,290$7,797$6,521$5,640
17 years$12,132$10,154$8,454$7,006$5,782$4,947
18 years$11,338$9,383$7,717$6,314$5,141$4,350
19 years$10,629$8,696$7,065$5,705$4,583$3,833
20 years$9,992$8,080$6,484$5,167$4,093$3,385
21 years$9,416$7,527$5,964$4,689$3,663$2,994
22 years$8,893$7,026$5,497$4,264$3,283$2,652
23 years$8,417$6,571$5,075$3,883$2,947$2,353
24 years$7,981$6,157$4,694$3,542$2,649$2,089
25 years$7,580$5,778$4,347$3,234$2,384$1,857
26 years$7,210$5,430$4,032$2,957$2,147$1,652
27 years$6,869$5,110$3,744$2,707$1,936$1,471
28 years$6,553$4,816$3,480$2,480$1,747$1,311
29 years$6,259$4,543$3,239$2,274$1,577$1,169
30 years$5,985$4,290$3,017$2,087$1,425$1,043
31 years$5,729$4,056$2,813$1,917$1,289$930
32 years$5,489$3,838$2,624$1,762$1,166$831
33 years$5,265$3,634$2,450$1,620$1,055$742
34 years$5,054$3,444$2,289$1,491$955$663
35 years$4,856$3,267$2,140$1,372$865$593
36 years$4,669$3,101$2,002$1,264$784$530
37 years$4,493$2,945$1,874$1,164$710$474
38 years$4,327$2,799$1,755$1,073$644$424
39 years$4,169$2,661$1,644$990$584$379
40 years$4,019$2,532$1,541$913$530$339
41 years$3,878$2,410$1,445$842$481$304
42 years$3,743$2,296$1,356$777$436$272
43 years$3,615$2,187$1,272$717$396$243
44 years$3,493$2,085$1,194$662$359$218
45 years$3,377$1,988$1,121$612$326$195
46 years$3,266$1,897$1,053$565$296$175
47 years$3,161$1,810$989$522$269$156
48 years$3,060$1,728$930$482$244$140
49 years$2,963$1,650$874$446$222$125
50 years$2,870$1,576$821$412$201$112

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 $5,689 every year, while hoping to spend $52,227 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: 67/24/9 Blend
49$2,940,000$2,940,000$2,940,000$2,940,000
50$3,245,748$3,089,928$3,044,358$3,457,069
51$3,521,245$3,185,766$3,090,775$3,694,032
52$3,823,093$3,284,549$3,136,996$3,946,212
53$4,153,923$3,386,366$3,182,961$4,220,537
54$4,516,636$3,491,311$3,228,602$4,519,163
55$4,914,424$3,599,476$3,273,852$4,844,466
56$5,350,805$3,710,960$3,318,636$5,199,061
57$5,829,653$3,825,863$3,362,876$5,585,826
58$6,355,235$3,944,288$3,406,489$6,007,931
59$6,932,251$4,066,340$3,449,389$6,468,864
60$7,565,880$4,192,130$3,491,483$6,972,468
61$8,261,824$4,321,769$3,532,672$7,522,973
62$9,026,368$4,455,374$3,572,855$8,125,039
63$9,866,434$4,593,063$3,611,921$8,783,796
64$10,789,647$4,734,960$3,649,757$9,504,895
65$11,804,407$4,881,189$3,686,241$10,294,560
66$12,919,971$5,031,882$3,721,244$11,159,644
67$14,146,536$5,187,172$3,754,633$12,107,699
68$15,495,334$5,347,195$3,786,266$13,147,040
69$16,978,745$5,512,094$3,815,992$14,286,827
70$18,610,404$5,682,014$3,843,655$15,537,153
71$20,405,338$5,857,105$3,869,089$16,909,133
72$22,380,099$6,037,520$3,892,121$18,415,013
73$24,552,929$6,223,418$3,912,567$20,068,283
74$26,943,924$6,414,962$3,930,235$21,883,804
75$29,575,229$6,612,320$3,944,922$23,877,952
76$32,471,242$6,815,663$3,956,416$26,068,763
77$35,658,848$7,025,170$3,964,495$28,476,113
78$39,167,669$7,241,022$3,968,924$31,121,896
79$43,030,345$7,463,406$3,969,458$34,030,238
80$47,282,844$7,692,516$3,965,837$37,227,718
81$51,964,794$7,928,549$3,957,793$40,743,622
82$57,119,865$8,171,710$3,945,041$44,610,218
83$62,796,174$8,422,207$3,927,284$48,863,059
84$69,046,745$8,680,257$3,904,209$53,541,318
85$75,930,004$8,946,080$3,875,490$58,688,160
86$83,510,330$9,219,903$3,840,785$64,351,145
87$91,858,666$9,501,961$3,799,734$70,582,680
88$101,053,187$9,792,494$3,751,961$77,440,507
89$111,180,034$10,091,748$3,697,074$84,988,257
90$122,334,131$10,399,978$3,634,660$93,296,040
91$134,620,079$10,717,444$3,564,288$102,441,114
92$148,153,142$11,044,413$3,485,506$112,508,609
93$163,060,334$11,381,161$3,397,842$123,592,329
94$179,481,620$11,727,970$3,300,802$135,795,643
95$197,571,235$12,085,130$3,193,868$149,232,454
96$217,499,139$12,452,939$3,076,501$164,028,275
97$239,452,622$12,831,704$2,948,135$180,321,415
98$263,638,070$13,221,738$2,808,178$198,264,282
99$290,282,915$13,623,365$2,656,013$218,024,821
100$319,637,776$14,036,914$2,490,994$239,788,100