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

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$245,260$243,075$240,944$238,863$236,832$230,732
2 years$121,416$119,154$116,963$114,838$112,777$106,672
3 years$80,140$77,869$75,683$73,578$71,550$65,632
4 years$59,506$57,242$55,078$53,009$51,030$45,343
5 years$47,129$44,878$42,743$40,716$38,792$33,352
6 years$38,880$36,646$34,542$32,561$30,695$25,507
7 years$32,990$30,776$28,705$26,770$24,963$20,029
8 years$28,575$26,380$24,344$22,457$20,710$16,025
9 years$25,143$22,969$20,967$19,128$17,440$13,003
10 years$22,399$20,246$18,280$16,489$14,860$10,664
11 years$20,155$18,024$16,093$14,350$12,780$8,819
12 years$18,286$16,177$14,282$12,587$11,075$7,341
13 years$16,707$14,619$12,760$11,112$9,658$6,144
14 years$15,354$13,289$11,465$9,864$8,466$5,165
15 years$14,182$12,139$10,352$8,797$7,454$4,357
16 years$13,158$11,138$9,385$7,877$6,588$3,687
17 years$12,256$10,257$8,540$7,077$5,841$3,127
18 years$11,454$9,478$7,796$6,378$5,194$2,658
19 years$10,738$8,784$7,137$5,763$4,629$2,263
20 years$10,094$8,163$6,550$5,220$4,135$1,929
21 years$9,512$7,603$6,025$4,737$3,700$1,647
22 years$8,984$7,098$5,553$4,307$3,317$1,408
23 years$8,503$6,638$5,127$3,923$2,977$1,204
24 years$8,062$6,220$4,742$3,578$2,676$1,031
25 years$7,657$5,837$4,392$3,267$2,408$883
26 years$7,284$5,486$4,073$2,987$2,169$757
27 years$6,939$5,163$3,782$2,735$1,956$649
28 years$6,619$4,865$3,516$2,505$1,765$556
29 years$6,322$4,589$3,272$2,298$1,593$477
30 years$6,046$4,334$3,048$2,109$1,440$410
31 years$5,787$4,097$2,841$1,937$1,302$352
32 years$5,545$3,877$2,651$1,780$1,177$302
33 years$5,319$3,671$2,475$1,637$1,066$260
34 years$5,106$3,480$2,313$1,506$965$223
35 years$4,906$3,300$2,162$1,386$874$192
36 years$4,717$3,132$2,023$1,277$792$165
37 years$4,539$2,975$1,893$1,176$718$141
38 years$4,371$2,827$1,773$1,084$651$122
39 years$4,211$2,689$1,661$1,000$590$104
40 years$4,060$2,558$1,557$922$535$90
41 years$3,917$2,435$1,460$851$485$77
42 years$3,781$2,319$1,369$785$441$66
43 years$3,652$2,210$1,285$725$400$57
44 years$3,529$2,106$1,206$669$363$49
45 years$3,411$2,008$1,133$618$329$42
46 years$3,300$1,916$1,064$571$299$36
47 years$3,193$1,828$999$527$272$31
48 years$3,091$1,745$939$487$247$27
49 years$2,993$1,667$883$450$224$23
50 years$2,900$1,592$830$416$203$20

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 $2,618 every year, while hoping to spend $53,958 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: 56/20/24 Blend
49$2,970,000$2,970,000$2,970,000$2,970,000
50$3,275,640$3,118,230$3,072,195$3,437,493
51$3,552,345$3,213,613$3,117,703$3,644,058
52$3,855,465$3,311,861$3,162,927$3,863,084
53$4,187,637$3,413,057$3,207,800$4,100,576
54$4,551,768$3,517,288$3,252,253$4,358,326
55$4,951,054$3,624,641$3,296,209$4,638,308
56$5,389,021$3,735,208$3,339,591$4,942,697
57$5,869,548$3,849,080$3,382,315$5,273,885
58$6,396,911$3,966,354$3,424,291$5,634,511
59$6,975,818$4,087,127$3,465,427$6,027,476
60$7,611,455$4,211,501$3,505,623$6,455,978
61$8,309,537$4,339,578$3,544,775$6,923,539
62$9,076,358$4,471,465$3,582,772$7,434,039
63$9,918,850$4,607,270$3,619,499$7,991,750
64$10,844,652$4,747,106$3,654,832$8,601,380
65$11,862,181$4,891,088$3,688,643$9,268,114
66$12,980,705$5,039,333$3,720,794$9,997,663
67$14,210,439$5,191,963$3,751,143$10,796,322
68$15,562,635$5,349,101$3,779,538$11,671,022
69$17,049,692$5,510,874$3,805,820$12,629,404
70$18,685,268$5,677,414$3,829,822$13,679,881
71$20,484,412$5,848,855$3,851,369$14,831,726
72$22,463,707$6,025,333$3,870,274$16,095,155
73$24,641,421$6,206,991$3,886,344$17,481,423
74$27,037,684$6,393,971$3,899,375$19,002,934
75$29,674,675$6,586,423$3,909,151$20,673,352
76$32,576,832$6,784,499$3,915,448$22,507,735
77$35,771,083$6,988,353$3,918,030$24,522,674
78$39,287,097$7,198,145$3,916,647$26,736,452
79$43,157,566$7,414,040$3,911,040$29,169,213
80$47,418,513$7,636,203$3,900,935$31,843,155
81$52,109,632$7,864,808$3,886,047$34,782,740
82$57,274,659$8,100,028$3,866,074$38,014,920
83$62,961,789$8,342,044$3,840,703$41,569,398
84$69,224,128$8,591,040$3,809,602$45,478,904
85$76,120,192$8,847,205$3,772,427$49,779,502
86$83,714,464$9,110,730$3,728,816$54,510,939
87$92,077,997$9,381,814$3,678,389$59,717,009
88$101,289,087$9,660,657$3,620,749$65,445,976
89$111,434,011$9,947,466$3,555,482$71,751,022
90$122,607,841$10,242,453$3,482,151$78,690,755
91$134,915,339$10,545,831$3,400,301$86,329,760
92$148,471,949$10,857,823$3,309,457$94,739,207
93$163,404,884$11,178,652$3,209,120$103,997,525
94$179,854,326$11,508,549$3,098,769$114,191,144
95$197,974,747$11,847,749$2,977,858$125,415,307
96$217,936,374$12,196,490$2,845,818$137,774,971
97$239,926,784$12,555,019$2,702,054$151,385,800
98$264,152,685$12,923,583$2,545,941$166,375,255
99$290,841,858$13,302,439$2,376,830$182,883,798
100$320,245,314$13,691,844$2,194,040$201,066,217