Can I retire at age 50 with 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 $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%17.6%
1 years$80,102$79,388$78,692$78,013$77,349$74,963
2 years$39,654$38,916$38,200$37,506$36,833$34,450
3 years$26,174$25,432$24,718$24,030$23,368$21,063
4 years$19,435$18,695$17,988$17,313$16,666$14,457
5 years$15,392$14,657$13,960$13,298$12,670$10,561
6 years$12,698$11,969$11,282$10,634$10,025$8,020
7 years$10,775$10,051$9,375$8,743$8,153$6,251
8 years$9,333$8,616$7,951$7,334$6,764$4,963
9 years$8,212$7,502$6,848$6,247$5,696$3,996
10 years$7,315$6,612$5,970$5,385$4,853$3,250
11 years$6,583$5,887$5,256$4,687$4,174$2,666
12 years$5,972$5,283$4,665$4,111$3,617$2,200
13 years$5,456$4,775$4,168$3,629$3,154$1,825
14 years$5,015$4,340$3,745$3,222$2,765$1,521
15 years$4,632$3,965$3,381$2,873$2,434$1,271
16 years$4,297$3,638$3,065$2,573$2,152$1,066
17 years$4,003$3,350$2,789$2,311$1,908$895
18 years$3,741$3,096$2,546$2,083$1,696$754
19 years$3,507$2,869$2,331$1,882$1,512$635
20 years$3,297$2,666$2,139$1,705$1,350$536
21 years$3,107$2,483$1,968$1,547$1,209$453
22 years$2,934$2,318$1,814$1,407$1,083$384
23 years$2,777$2,168$1,674$1,281$972$325
24 years$2,633$2,031$1,549$1,168$874$275
25 years$2,501$1,906$1,434$1,067$786$233
26 years$2,379$1,792$1,330$976$708$198
27 years$2,266$1,686$1,235$893$639$168
28 years$2,162$1,589$1,148$818$576$142
29 years$2,065$1,499$1,069$750$520$121
30 years$1,975$1,415$995$689$470$103
31 years$1,890$1,338$928$632$425$87
32 years$1,811$1,266$866$581$385$74
33 years$1,737$1,199$808$535$348$63
34 years$1,668$1,136$755$492$315$53
35 years$1,602$1,078$706$453$285$45
36 years$1,541$1,023$661$417$259$39
37 years$1,482$972$618$384$234$33
38 years$1,427$923$579$354$212$28
39 years$1,375$878$542$326$193$24
40 years$1,326$835$508$301$175$20
41 years$1,279$795$477$278$159$17
42 years$1,235$757$447$256$144$15
43 years$1,193$722$420$237$131$12
44 years$1,152$688$394$219$119$11
45 years$1,114$656$370$202$108$9
46 years$1,078$626$347$186$98$8
47 years$1,043$597$326$172$89$6
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $970,000, adding $2,477 every year, while hoping to spend $38,720 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: 62/21/17 Blend
49$970,000$970,000$970,000$970,000
50$1,071,495$1,020,085$1,005,050$1,133,183
51$1,139,590$1,028,871$997,521$1,183,787
52$1,213,332$1,036,791$988,443$1,234,423
53$1,293,258$1,043,759$977,722$1,288,789
54$1,379,956$1,049,689$965,260$1,347,250
55$1,474,072$1,054,484$950,957$1,410,211
56$1,576,319$1,058,046$934,706$1,478,116
57$1,687,480$1,060,266$916,395$1,551,457
58$1,808,416$1,061,032$895,908$1,630,779
59$1,940,075$1,060,224$873,121$1,716,680
60$2,083,500$1,057,712$847,908$1,809,822
61$2,239,839$1,053,362$820,135$1,910,937
62$2,410,355$1,047,029$789,662$2,020,832
63$2,596,439$1,038,561$756,343$2,140,396
64$2,799,620$1,027,794$720,025$2,270,614
65$3,021,583$1,014,558$680,548$2,412,571
66$3,264,183$998,670$637,745$2,567,463
67$3,529,462$979,938$591,441$2,736,614
68$3,819,668$958,155$541,455$2,921,483
69$4,137,276$933,107$487,596$3,123,679
70$4,485,012$904,563$429,665$3,344,980
71$4,865,878$872,282$367,453$3,587,346
72$5,283,180$836,005$300,745$3,852,943
73$5,740,557$795,462$229,312$4,144,157
74$6,242,019$750,365$152,919$4,463,623
75$6,791,981$700,409$71,319$4,814,247
76$7,395,308$645,275$0$5,199,238
77$8,057,357$584,620$0$5,624,993
78$8,784,028$518,087$0$6,106,547
79$9,581,821$445,296$0$6,635,307
80$10,457,897$365,845$0$7,216,076
81$11,420,142$279,311$0$7,854,150
82$12,477,246$185,247$0$8,555,367
83$13,638,780$83,179$0$9,326,162
84$14,915,290$0$0$10,173,629
85$16,318,392$0$0$11,111,919
86$17,860,886$0$0$12,164,632
87$19,556,871$0$0$13,322,181
88$21,421,884$0$0$14,595,176
89$23,473,040$0$0$15,995,313
90$25,729,196$0$0$17,535,473
91$28,211,130$0$0$19,229,852
92$30,941,735$0$0$21,094,089
93$33,946,233$0$0$23,145,416
94$37,252,416$0$0$25,402,820
95$40,890,904$0$0$27,887,222
96$44,895,439$0$0$30,621,671
97$49,303,198$0$0$33,631,568
98$54,155,142$0$0$36,944,899
99$59,496,410$0$0$40,592,501
100$65,376,737$0$0$44,608,354