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

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$246,086$243,894$241,755$239,668$237,629$234,952
2 years$121,825$119,556$117,357$115,225$113,157$110,462
3 years$80,410$78,131$75,938$73,826$71,791$69,162
4 years$59,706$57,435$55,263$53,187$51,202$48,659
5 years$47,287$45,029$42,886$40,853$38,923$36,473
6 years$39,011$36,770$34,659$32,670$30,799$28,445
7 years$33,101$30,879$28,801$26,860$25,047$22,791
8 years$28,671$26,469$24,426$22,532$20,779$18,620
9 years$25,228$23,046$21,038$19,193$17,499$15,436
10 years$22,474$20,314$18,341$16,544$14,910$12,942
11 years$20,223$18,084$16,148$14,398$12,823$10,949
12 years$18,348$16,232$14,331$12,629$11,112$9,329
13 years$16,763$14,669$12,803$11,150$9,690$7,996
14 years$15,405$13,333$11,504$9,898$8,494$6,887
15 years$14,230$12,180$10,386$8,827$7,479$5,956
16 years$13,203$11,175$9,417$7,903$6,610$5,169
17 years$12,297$10,292$8,569$7,101$5,861$4,498
18 years$11,493$9,510$7,822$6,400$5,211$3,925
19 years$10,774$8,814$7,161$5,783$4,645$3,432
20 years$10,128$8,190$6,572$5,237$4,149$3,006
21 years$9,544$7,629$6,045$4,753$3,713$2,637
22 years$9,014$7,121$5,571$4,322$3,328$2,317
23 years$8,531$6,661$5,144$3,936$2,987$2,038
24 years$8,089$6,240$4,757$3,590$2,685$1,795
25 years$7,683$5,856$4,406$3,278$2,416$1,582
26 years$7,309$5,504$4,087$2,998$2,176$1,395
27 years$6,963$5,180$3,795$2,744$1,962$1,231
28 years$6,642$4,881$3,528$2,514$1,771$1,088
29 years$6,344$4,605$3,283$2,305$1,599$961
30 years$6,066$4,349$3,058$2,116$1,445$850
31 years$5,807$4,111$2,851$1,943$1,306$752
32 years$5,564$3,890$2,660$1,786$1,181$665
33 years$5,337$3,684$2,484$1,642$1,069$589
34 years$5,123$3,491$2,320$1,511$968$521
35 years$4,922$3,311$2,169$1,391$877$461
36 years$4,733$3,143$2,029$1,281$794$409
37 years$4,554$2,985$1,900$1,180$720$362
38 years$4,385$2,837$1,779$1,088$653$321
39 years$4,226$2,698$1,667$1,003$592$284
40 years$4,074$2,567$1,562$925$537$252
41 years$3,930$2,443$1,465$854$487$223
42 years$3,794$2,327$1,374$788$442$198
43 years$3,664$2,217$1,289$727$401$176
44 years$3,541$2,113$1,210$671$364$156
45 years$3,423$2,015$1,136$620$331$138
46 years$3,311$1,922$1,067$573$300$122
47 years$3,204$1,835$1,003$529$273$109
48 years$3,101$1,751$942$489$247$96
49 years$3,003$1,672$886$452$225$85
50 years$2,910$1,598$833$418$204$76

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 $6,610 every year, while hoping to spend $26,096 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: 44/49/7 Blend
49$2,980,000$2,980,000$2,980,000$2,980,000
50$3,290,778$3,132,838$3,086,648$3,428,761
51$3,598,672$3,258,581$3,162,285$3,650,621
52$3,937,096$3,389,611$3,239,581$3,887,721
53$4,309,137$3,526,159$3,318,564$4,144,081
54$4,718,195$3,668,468$3,399,263$4,421,478
55$5,168,018$3,816,790$3,481,705$4,721,860
56$5,662,732$3,971,389$3,565,918$5,047,365
57$6,206,886$4,132,542$3,651,932$5,400,344
58$6,805,490$4,300,539$3,739,774$5,783,377
59$7,464,065$4,475,680$3,829,471$6,199,298
60$8,188,694$4,658,282$3,921,052$6,651,221
61$8,986,079$4,848,676$4,014,546$7,142,567
62$9,863,604$5,047,207$4,109,978$7,677,097
63$10,829,407$5,254,235$4,207,377$8,258,944
64$11,892,452$5,470,138$4,306,771$8,892,651
65$13,062,620$5,695,312$4,408,184$9,583,214
66$14,350,794$5,930,169$4,511,645$10,336,124
67$15,768,969$6,175,142$4,617,180$11,157,421
68$17,330,361$6,430,681$4,724,813$12,053,748
69$19,049,534$6,697,261$4,834,570$13,032,411
70$20,942,534$6,975,374$4,946,475$14,101,446
71$23,027,043$7,265,537$5,060,553$15,269,695
72$25,322,545$7,568,293$5,176,826$16,546,885
73$27,850,512$7,884,206$5,295,316$17,943,720
74$30,634,600$8,213,869$5,416,045$19,471,976
75$33,700,881$8,557,900$5,539,034$21,144,614
76$37,078,081$8,916,947$5,664,302$22,975,899
77$40,797,857$9,291,688$5,791,868$24,981,528
78$44,895,090$9,682,833$5,921,747$27,178,783
79$49,408,221$10,091,124$6,053,957$29,586,684
80$54,379,607$10,517,336$6,188,512$32,226,170
81$59,855,924$10,962,283$6,325,425$35,120,291
82$65,888,608$11,426,814$6,464,706$38,294,427
83$72,534,338$11,911,820$6,606,366$41,776,518
84$79,855,573$12,418,232$6,750,412$45,597,328
85$87,921,140$12,947,024$6,896,849$49,790,732
86$96,806,884$13,499,216$7,045,681$54,394,030
87$106,596,384$14,075,876$7,196,910$59,448,297
88$117,381,742$14,678,121$7,350,533$64,998,766
89$129,264,452$15,307,120$7,506,548$71,095,249
90$142,356,355$15,964,099$7,664,947$77,792,606
91$156,780,701$16,650,337$7,825,720$85,151,256
92$172,673,306$17,367,177$7,988,855$93,237,743
93$190,183,838$18,116,023$8,154,336$102,125,358
94$209,477,226$18,898,345$8,322,143$111,894,827
95$230,735,221$19,715,682$8,492,253$122,635,065
96$254,158,107$20,569,644$8,664,637$134,444,015
97$279,966,597$21,461,920$8,839,266$147,429,559
98$308,403,910$22,394,274$9,016,101$161,710,536
99$339,738,072$23,368,557$9,195,104$177,417,853
100$374,264,443$24,386,703$9,376,227$194,695,716