Can I retire at age 50 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$245,260$243,075$240,944$238,863$236,832$231,389
2 years$121,416$119,154$116,963$114,838$112,777$107,323
3 years$80,140$77,869$75,683$73,578$71,550$66,256
4 years$59,506$57,242$55,078$53,009$51,030$45,936
5 years$47,129$44,878$42,743$40,716$38,792$33,913
6 years$38,880$36,646$34,542$32,561$30,695$26,036
7 years$32,990$30,776$28,705$26,770$24,963$20,525
8 years$28,575$26,380$24,344$22,457$20,710$16,490
9 years$25,143$22,969$20,967$19,128$17,440$13,436
10 years$22,399$20,246$18,280$16,489$14,860$11,067
11 years$20,155$18,024$16,093$14,350$12,780$9,193
12 years$18,286$16,177$14,282$12,587$11,075$7,688
13 years$16,707$14,619$12,760$11,112$9,658$6,465
14 years$15,354$13,289$11,465$9,864$8,466$5,461
15 years$14,182$12,139$10,352$8,797$7,454$4,629
16 years$13,158$11,138$9,385$7,877$6,588$3,936
17 years$12,256$10,257$8,540$7,077$5,841$3,356
18 years$11,454$9,478$7,796$6,378$5,194$2,867
19 years$10,738$8,784$7,137$5,763$4,629$2,454
20 years$10,094$8,163$6,550$5,220$4,135$2,103
21 years$9,512$7,603$6,025$4,737$3,700$1,805
22 years$8,984$7,098$5,553$4,307$3,317$1,551
23 years$8,503$6,638$5,127$3,923$2,977$1,334
24 years$8,062$6,220$4,742$3,578$2,676$1,148
25 years$7,657$5,837$4,392$3,267$2,408$989
26 years$7,284$5,486$4,073$2,987$2,169$853
27 years$6,939$5,163$3,782$2,735$1,956$735
28 years$6,619$4,865$3,516$2,505$1,765$634
29 years$6,322$4,589$3,272$2,298$1,593$547
30 years$6,046$4,334$3,048$2,109$1,440$472
31 years$5,787$4,097$2,841$1,937$1,302$408
32 years$5,545$3,877$2,651$1,780$1,177$352
33 years$5,319$3,671$2,475$1,637$1,066$304
34 years$5,106$3,480$2,313$1,506$965$263
35 years$4,906$3,300$2,162$1,386$874$227
36 years$4,717$3,132$2,023$1,277$792$196
37 years$4,539$2,975$1,893$1,176$718$170
38 years$4,371$2,827$1,773$1,084$651$147
39 years$4,211$2,689$1,661$1,000$590$127
40 years$4,060$2,558$1,557$922$535$110
41 years$3,917$2,435$1,460$851$485$95
42 years$3,781$2,319$1,369$785$441$82
43 years$3,652$2,210$1,285$725$400$71
44 years$3,529$2,106$1,206$669$363$61
45 years$3,411$2,008$1,133$618$329$53
46 years$3,300$1,916$1,064$571$299$46
47 years$3,193$1,828$999$527$272$40
48 years$3,091$1,745$939$487$247$34
49 years$2,993$1,667$883$450$224$30
50 years$2,900$1,592$830$416$203$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $2,970,000, adding $6,151 every year, while hoping to spend $43,012 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$2,970,000$2,970,000$2,970,000$2,970,000
50$3,279,285$3,121,875$3,075,840$3,524,194
51$3,568,007$3,229,082$3,133,116$3,793,322
52$3,884,738$3,340,101$3,190,869$4,082,126
53$4,232,288$3,455,073$3,249,070$4,397,446
54$4,613,755$3,574,145$3,307,687$4,741,898
55$5,032,549$3,697,469$3,366,686$5,118,362
56$5,492,428$3,825,204$3,426,029$5,530,010
57$5,997,531$3,957,515$3,485,677$5,980,331
58$6,552,419$4,094,572$3,545,586$6,473,170
59$7,162,114$4,236,554$3,605,711$7,012,761
60$7,832,150$4,383,646$3,666,003$7,603,765
61$8,568,624$4,536,040$3,726,409$8,251,316
62$9,378,253$4,693,935$3,786,873$8,961,070
63$10,268,436$4,857,539$3,847,335$9,739,253
64$11,247,326$5,027,068$3,907,730$10,592,725
65$12,323,906$5,202,747$3,967,992$11,529,040
66$13,508,071$5,384,808$4,028,046$12,556,521
67$14,810,726$5,573,495$4,087,817$13,684,333
68$16,243,884$5,769,060$4,147,223$14,922,575
69$17,820,781$5,971,766$4,206,176$16,282,370
70$19,556,003$6,181,884$4,264,585$17,775,970
71$21,465,618$6,399,700$4,322,352$19,416,874
72$23,567,334$6,625,508$4,379,374$21,219,953
73$25,880,660$6,859,616$4,435,540$23,201,590
74$28,427,093$7,102,342$4,490,737$25,379,833
75$31,230,320$7,354,021$4,544,840$27,774,566
76$34,316,442$7,614,997$4,597,721$30,407,696
77$37,714,218$7,885,631$4,649,244$33,303,360
78$41,455,339$8,166,297$4,699,264$36,488,150
79$45,574,723$8,457,385$4,747,629$39,991,365
80$50,110,849$8,759,302$4,794,179$43,845,286
81$55,106,116$9,072,468$4,838,745$48,085,481
82$60,607,246$9,397,325$4,881,148$52,751,139
83$66,665,720$9,734,328$4,921,201$57,885,438
84$73,338,269$10,083,957$4,958,708$63,535,957
85$80,687,407$10,446,705$4,993,459$69,755,117
86$88,782,019$10,823,090$5,025,236$76,600,680
87$97,698,013$11,213,649$5,053,809$84,136,293
88$107,519,035$11,618,943$5,078,937$92,432,085
89$118,337,260$12,039,554$5,100,365$101,565,332
90$130,254,260$12,476,092$5,117,826$111,621,182
91$143,381,961$12,929,187$5,131,040$122,693,460
92$157,843,704$13,399,500$5,139,712$134,885,552
93$173,775,403$13,887,716$5,143,534$148,311,379
94$191,326,831$14,394,552$5,142,180$163,096,474
95$210,663,036$14,920,753$5,135,311$179,379,163
96$231,965,890$15,467,095$5,122,569$197,311,871
97$255,435,816$16,034,387$5,103,579$217,062,560
98$281,293,669$16,623,472$5,077,950$238,816,311
99$309,782,831$17,235,230$5,045,269$262,777,075
100$341,171,500$17,870,576$5,005,105$289,169,591