Can I retire at age 50 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$246,086$243,894$241,755$239,668$237,629$234,078
2 years$121,825$119,556$117,357$115,225$113,157$109,587
3 years$80,410$78,131$75,938$73,826$71,791$68,314
4 years$59,706$57,435$55,263$53,187$51,202$47,844
5 years$47,287$45,029$42,886$40,853$38,923$35,694
6 years$39,011$36,770$34,659$32,670$30,799$27,702
7 years$33,101$30,879$28,801$26,860$25,047$22,085
8 years$28,671$26,469$24,426$22,532$20,779$17,950
9 years$25,228$23,046$21,038$19,193$17,499$14,802
10 years$22,474$20,314$18,341$16,544$14,910$12,343
11 years$20,223$18,084$16,148$14,398$12,823$10,383
12 years$18,348$16,232$14,331$12,629$11,112$8,797
13 years$16,763$14,669$12,803$11,150$9,690$7,496
14 years$15,405$13,333$11,504$9,898$8,494$6,417
15 years$14,230$12,180$10,386$8,827$7,479$5,516
16 years$13,203$11,175$9,417$7,903$6,610$4,757
17 years$12,297$10,292$8,569$7,101$5,861$4,114
18 years$11,493$9,510$7,822$6,400$5,211$3,566
19 years$10,774$8,814$7,161$5,783$4,645$3,098
20 years$10,128$8,190$6,572$5,237$4,149$2,695
21 years$9,544$7,629$6,045$4,753$3,713$2,349
22 years$9,014$7,121$5,571$4,322$3,328$2,050
23 years$8,531$6,661$5,144$3,936$2,987$1,790
24 years$8,089$6,240$4,757$3,590$2,685$1,566
25 years$7,683$5,856$4,406$3,278$2,416$1,370
26 years$7,309$5,504$4,087$2,998$2,176$1,200
27 years$6,963$5,180$3,795$2,744$1,962$1,051
28 years$6,642$4,881$3,528$2,514$1,771$922
29 years$6,344$4,605$3,283$2,305$1,599$809
30 years$6,066$4,349$3,058$2,116$1,445$710
31 years$5,807$4,111$2,851$1,943$1,306$623
32 years$5,564$3,890$2,660$1,786$1,181$547
33 years$5,337$3,684$2,484$1,642$1,069$481
34 years$5,123$3,491$2,320$1,511$968$422
35 years$4,922$3,311$2,169$1,391$877$371
36 years$4,733$3,143$2,029$1,281$794$326
37 years$4,554$2,985$1,900$1,180$720$287
38 years$4,385$2,837$1,779$1,088$653$252
39 years$4,226$2,698$1,667$1,003$592$222
40 years$4,074$2,567$1,562$925$537$195
41 years$3,930$2,443$1,465$854$487$172
42 years$3,794$2,327$1,374$788$442$151
43 years$3,664$2,217$1,289$727$401$133
44 years$3,541$2,113$1,210$671$364$117
45 years$3,423$2,015$1,136$620$331$103
46 years$3,311$1,922$1,067$573$300$91
47 years$3,204$1,835$1,003$529$273$80
48 years$3,101$1,751$942$489$247$70
49 years$3,003$1,672$886$452$225$62
50 years$2,910$1,598$833$418$204$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $2,980,000, adding $3,262 every year, while hoping to spend $43,313 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: 46/30/24 Blend
49$2,980,000$2,980,000$2,980,000$2,980,000
50$3,287,325$3,129,385$3,083,195$3,415,749
51$3,576,547$3,236,640$3,140,397$3,613,748
52$3,893,819$3,347,699$3,198,064$3,823,935
53$4,241,954$3,462,702$3,256,165$4,051,119
54$4,624,055$3,581,796$3,314,669$4,296,911
55$5,043,538$3,705,133$3,373,538$4,563,082
56$5,504,163$3,832,870$3,432,737$4,851,579
57$6,010,078$3,965,170$3,492,224$5,164,546
58$6,565,847$4,102,205$3,551,954$5,504,339
59$7,176,501$4,244,150$3,611,883$5,873,552
60$7,847,582$4,391,191$3,671,958$6,275,040
61$8,585,193$4,543,517$3,732,127$6,711,945
62$9,396,061$4,701,328$3,792,331$7,187,725
63$10,287,596$4,864,830$3,852,511$7,706,185
64$11,267,962$5,034,237$3,912,601$8,271,516
65$12,346,152$5,209,773$3,972,531$8,888,329
66$13,532,076$5,391,669$4,032,228$9,561,704
67$14,836,654$5,580,166$4,091,613$10,297,231
68$16,271,913$5,775,516$4,150,603$11,101,068
69$17,851,110$5,977,977$4,209,110$11,979,992
70$19,588,848$6,187,823$4,267,040$12,941,470
71$21,501,218$6,405,334$4,324,294$13,993,723
72$23,605,951$6,630,804$4,380,766$15,145,805
73$25,922,582$6,864,538$4,436,346$16,407,688
74$28,472,638$7,106,852$4,490,915$17,790,354
75$31,279,837$7,358,077$4,544,351$19,305,900
76$34,370,314$7,618,557$4,596,520$20,967,651
77$37,772,867$7,888,648$4,647,285$22,790,282
78$41,519,230$8,168,722$4,696,500$24,789,961
79$45,644,368$8,459,166$4,744,009$26,984,497
80$50,186,811$8,760,382$4,789,650$29,393,506
81$55,189,014$9,072,789$4,833,252$32,038,602
82$60,697,761$9,396,824$4,874,634$34,943,590
83$66,764,604$9,732,939$4,913,605$38,134,701
84$73,446,349$10,081,608$4,949,966$41,640,828
85$80,805,591$10,443,322$4,983,505$45,493,807
86$88,911,309$10,818,593$5,014,000$49,728,710
87$97,839,513$11,207,953$5,041,219$54,384,177
88$107,673,959$11,611,959$5,064,916$59,502,782
89$118,506,946$12,031,188$5,084,833$65,131,430
90$130,440,180$12,466,242$5,100,701$71,321,801
91$143,585,738$12,917,747$5,112,234$78,130,835
92$158,067,123$13,386,357$5,119,134$85,621,272
93$174,020,433$13,872,752$5,121,088$93,862,237
94$191,595,640$14,377,639$5,117,767$102,929,898
95$210,958,009$14,901,757$5,108,826$112,908,176
96$232,289,657$15,445,875$5,093,903$123,889,543
97$255,791,273$16,010,794$5,072,620$135,975,891
98$281,684,008$16,597,348$5,044,577$149,279,491
99$310,211,565$17,206,406$5,009,359$163,924,050
100$341,642,501$17,838,876$4,966,529$180,045,882