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%16.5%
1 years$246,086$243,894$241,755$239,668$237,629$231,322
2 years$121,825$119,556$117,357$115,225$113,157$106,846
3 years$80,410$78,131$75,938$73,826$71,791$65,675
4 years$59,706$57,435$55,263$53,187$51,202$45,327
5 years$47,287$45,029$42,886$40,853$38,923$33,306
6 years$39,011$36,770$34,659$32,670$30,799$25,444
7 years$33,101$30,879$28,801$26,860$25,047$19,956
8 years$28,671$26,469$24,426$22,532$20,779$15,949
9 years$25,228$23,046$21,038$19,193$17,499$12,925
10 years$22,474$20,314$18,341$16,544$14,910$10,587
11 years$20,223$18,084$16,148$14,398$12,823$8,744
12 years$18,348$16,232$14,331$12,629$11,112$7,269
13 years$16,763$14,669$12,803$11,150$9,690$6,076
14 years$15,405$13,333$11,504$9,898$8,494$5,100
15 years$14,230$12,180$10,386$8,827$7,479$4,297
16 years$13,203$11,175$9,417$7,903$6,610$3,630
17 years$12,297$10,292$8,569$7,101$5,861$3,075
18 years$11,493$9,510$7,822$6,400$5,211$2,609
19 years$10,774$8,814$7,161$5,783$4,645$2,218
20 years$10,128$8,190$6,572$5,237$4,149$1,889
21 years$9,544$7,629$6,045$4,753$3,713$1,610
22 years$9,014$7,121$5,571$4,322$3,328$1,374
23 years$8,531$6,661$5,144$3,936$2,987$1,173
24 years$8,089$6,240$4,757$3,590$2,685$1,003
25 years$7,683$5,856$4,406$3,278$2,416$857
26 years$7,309$5,504$4,087$2,998$2,176$734
27 years$6,963$5,180$3,795$2,744$1,962$628
28 years$6,642$4,881$3,528$2,514$1,771$538
29 years$6,344$4,605$3,283$2,305$1,599$461
30 years$6,066$4,349$3,058$2,116$1,445$395
31 years$5,807$4,111$2,851$1,943$1,306$338
32 years$5,564$3,890$2,660$1,786$1,181$290
33 years$5,337$3,684$2,484$1,642$1,069$249
34 years$5,123$3,491$2,320$1,511$968$213
35 years$4,922$3,311$2,169$1,391$877$183
36 years$4,733$3,143$2,029$1,281$794$157
37 years$4,554$2,985$1,900$1,180$720$135
38 years$4,385$2,837$1,779$1,088$653$116
39 years$4,226$2,698$1,667$1,003$592$99
40 years$4,074$2,567$1,562$925$537$85
41 years$3,930$2,443$1,465$854$487$73
42 years$3,794$2,327$1,374$788$442$63
43 years$3,664$2,217$1,289$727$401$54
44 years$3,541$2,113$1,210$671$364$46
45 years$3,423$2,015$1,136$620$331$40
46 years$3,311$1,922$1,067$573$300$34
47 years$3,204$1,835$1,003$529$273$29
48 years$3,101$1,751$942$489$247$25
49 years$3,003$1,672$886$452$225$21
50 years$2,910$1,598$833$418$204$18

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 $2,864 every year, while hoping to spend $36,613 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: 45/32/23 Blend
49$2,980,000$2,980,000$2,980,000$2,980,000
50$3,286,914$3,128,974$3,082,784$3,412,903
51$3,583,224$3,243,338$3,147,102$3,616,425
52$3,908,529$3,362,079$3,212,346$3,833,197
53$4,265,750$3,485,372$3,278,511$4,067,545
54$4,658,102$3,613,400$3,345,587$4,321,124
55$5,089,128$3,746,356$3,413,563$4,595,752
56$5,562,728$3,884,437$3,482,427$4,893,427
57$6,083,203$4,027,851$3,552,165$5,216,348
58$6,655,289$4,176,814$3,622,761$5,566,932
59$7,284,202$4,331,552$3,694,197$5,947,839
60$7,975,692$4,492,299$3,766,454$6,361,993
61$8,736,091$4,659,301$3,839,509$6,812,613
62$9,572,378$4,832,812$3,913,338$7,303,237
63$10,492,241$5,013,100$3,987,915$7,837,763
64$11,504,148$5,200,441$4,063,209$8,420,476
65$12,617,434$5,395,125$4,139,190$9,056,094
66$13,842,381$5,597,455$4,215,821$9,749,810
67$15,190,318$5,807,745$4,293,066$10,507,339
68$16,673,730$6,026,323$4,370,882$11,334,972
69$18,306,370$6,253,533$4,449,227$12,239,635
70$20,103,395$6,489,731$4,528,051$13,228,953
71$22,081,505$6,735,291$4,607,304$14,311,319
72$24,259,100$6,990,602$4,686,931$15,495,977
73$26,656,456$7,256,070$4,766,871$16,793,103
74$29,295,915$7,532,117$4,847,061$18,213,904
75$32,202,095$7,819,187$4,927,433$19,770,721
76$35,402,121$8,117,740$5,007,915$21,477,142
77$38,925,886$8,428,258$5,088,429$23,348,134
78$42,806,326$8,751,242$5,168,891$25,400,181
79$47,079,736$9,087,218$5,249,214$27,651,435
80$51,786,110$9,436,732$5,329,303$30,121,891
81$56,969,517$9,800,356$5,409,059$32,833,571
82$62,678,520$10,178,686$5,488,375$35,810,733
83$68,966,633$10,572,345$5,567,139$39,080,096
84$75,892,822$10,981,983$5,645,231$42,671,093
85$83,522,068$11,408,278$5,722,524$46,616,144
86$91,925,974$11,851,939$5,798,884$50,950,965
87$101,183,446$12,313,706$5,874,169$55,714,898
88$111,381,431$12,794,352$5,948,228$60,951,286
89$122,615,746$13,294,684$6,020,902$66,707,877
90$134,991,973$13,815,544$6,092,023$73,037,273
91$148,626,462$14,357,814$6,161,413$79,997,424
92$163,647,426$14,922,411$6,228,885$87,652,177
93$180,196,151$15,510,298$6,294,241$96,071,870
94$198,428,333$16,122,476$6,357,272$105,334,001
95$218,515,540$16,759,995$6,417,758$115,523,950
96$240,646,840$17,423,949$6,475,468$126,735,788
97$265,030,577$18,115,483$6,530,156$139,073,160
98$291,896,345$18,835,790$6,581,565$152,650,261
99$321,497,150$19,586,122$6,629,425$167,592,914
100$354,111,799$20,367,782$6,673,451$184,039,748