Can I retire at age 50 with 2,940,000?

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 $2,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$242,782$240,620$238,510$236,451$234,440$227,849
2 years$120,189$117,951$115,782$113,678$111,638$105,048
3 years$79,330$77,082$74,918$72,835$70,828$64,445
4 years$58,905$56,664$54,521$52,473$50,515$44,388
5 years$46,653$44,425$42,311$40,305$38,401$32,547
6 years$38,487$36,276$34,193$32,232$30,385$24,810
7 years$32,657$30,465$28,415$26,500$24,711$19,415
8 years$28,287$26,114$24,098$22,230$20,500$15,480
9 years$24,889$22,737$20,756$18,935$17,264$12,515
10 years$22,172$20,041$18,095$16,322$14,710$10,225
11 years$19,951$17,842$15,931$14,205$12,651$8,423
12 years$18,102$16,014$14,138$12,460$10,963$6,985
13 years$16,538$14,472$12,632$11,000$9,560$5,822
14 years$15,199$13,154$11,349$9,765$8,380$4,874
15 years$14,039$12,017$10,247$8,708$7,379$4,095
16 years$13,025$11,025$9,290$7,797$6,521$3,450
17 years$12,132$10,154$8,454$7,006$5,782$2,913
18 years$11,338$9,383$7,717$6,314$5,141$2,465
19 years$10,629$8,696$7,065$5,705$4,583$2,089
20 years$9,992$8,080$6,484$5,167$4,093$1,773
21 years$9,416$7,527$5,964$4,689$3,663$1,507
22 years$8,893$7,026$5,497$4,264$3,283$1,282
23 years$8,417$6,571$5,075$3,883$2,947$1,091
24 years$7,981$6,157$4,694$3,542$2,649$930
25 years$7,580$5,778$4,347$3,234$2,384$793
26 years$7,210$5,430$4,032$2,957$2,147$676
27 years$6,869$5,110$3,744$2,707$1,936$577
28 years$6,553$4,816$3,480$2,480$1,747$492
29 years$6,259$4,543$3,239$2,274$1,577$420
30 years$5,985$4,290$3,017$2,087$1,425$359
31 years$5,729$4,056$2,813$1,917$1,289$307
32 years$5,489$3,838$2,624$1,762$1,166$262
33 years$5,265$3,634$2,450$1,620$1,055$224
34 years$5,054$3,444$2,289$1,491$955$191
35 years$4,856$3,267$2,140$1,372$865$164
36 years$4,669$3,101$2,002$1,264$784$140
37 years$4,493$2,945$1,874$1,164$710$120
38 years$4,327$2,799$1,755$1,073$644$102
39 years$4,169$2,661$1,644$990$584$87
40 years$4,019$2,532$1,541$913$530$75
41 years$3,878$2,410$1,445$842$481$64
42 years$3,743$2,296$1,356$777$436$55
43 years$3,615$2,187$1,272$717$396$47
44 years$3,493$2,085$1,194$662$359$40
45 years$3,377$1,988$1,121$612$326$34
46 years$3,266$1,897$1,053$565$296$29
47 years$3,161$1,810$989$522$269$25
48 years$3,060$1,728$930$482$244$21
49 years$2,963$1,650$874$446$222$18
50 years$2,870$1,576$821$412$201$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 50 starting with $2,940,000, adding $4,239 every year, while hoping to spend $20,872 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: 64/20/16 Blend
49$2,940,000$2,940,000$2,940,000$2,940,000
50$3,244,253$3,088,433$3,042,863$3,438,876
51$3,552,959$3,217,558$3,122,591$3,699,012
52$3,892,453$3,352,311$3,204,290$3,980,288
53$4,265,855$3,492,946$3,288,005$4,287,047
54$4,676,599$3,639,727$3,373,780$4,621,775
55$5,128,471$3,792,933$3,461,661$4,987,208
56$5,625,642$3,952,854$3,551,694$5,386,356
57$6,172,708$4,119,794$3,643,926$5,822,532
58$6,774,732$4,294,072$3,738,406$6,299,382
59$7,437,294$4,476,020$3,835,181$6,820,918
60$8,166,540$4,665,987$3,934,301$7,391,559
61$8,969,244$4,864,337$4,035,818$8,016,165
62$9,852,870$5,071,453$4,139,781$8,700,090
63$10,825,642$5,287,734$4,246,243$9,449,226
64$11,896,622$5,513,597$4,355,257$10,270,061
65$13,075,795$5,749,481$4,466,875$11,169,738
66$14,374,164$5,995,843$4,581,153$12,156,122
67$15,803,852$6,253,163$4,698,146$13,237,874
68$17,378,220$6,521,943$4,817,908$14,424,531
69$19,111,988$6,802,708$4,940,498$15,726,594
70$21,021,378$7,096,008$5,065,972$17,155,629
71$23,124,265$7,402,418$5,194,388$18,724,374
72$25,440,345$7,722,542$5,325,805$20,446,857
73$27,991,323$8,057,010$5,460,283$22,338,528
74$30,801,118$8,406,483$5,597,882$24,416,404
75$33,896,084$8,771,652$5,738,663$26,699,228
76$37,305,264$9,153,243$5,882,687$29,207,647
77$41,060,661$9,552,012$6,030,017$31,964,400
78$45,197,542$9,968,754$6,180,717$34,994,537
79$49,754,769$10,404,300$6,334,848$38,325,653
80$54,775,165$10,859,521$6,492,476$41,988,143
81$60,305,923$11,335,329$6,653,665$46,015,493
82$66,399,044$11,832,677$6,818,479$50,444,589
83$73,111,834$12,352,565$6,986,986$55,316,070
84$80,507,441$12,896,041$7,159,250$60,674,702
85$88,655,454$13,464,201$7,335,338$66,569,807
86$97,632,555$14,058,192$7,515,318$73,055,720
87$107,523,250$14,679,218$7,699,255$80,192,303
88$118,420,660$15,328,537$7,887,218$88,045,508
89$130,427,401$16,007,469$8,079,273$96,687,998
90$143,656,556$16,717,396$8,275,490$106,199,829
91$158,232,741$17,459,764$8,475,934$116,669,203
92$174,293,277$18,236,090$8,680,675$128,193,302
93$191,989,494$19,047,960$8,889,780$140,879,198
94$211,488,151$19,897,039$9,103,317$154,844,865
95$232,973,017$20,785,068$9,321,352$170,220,288
96$256,646,600$21,713,873$9,543,953$187,148,685
97$282,732,065$22,685,364$9,771,187$205,787,864
98$311,475,334$23,701,545$10,003,120$226,311,698
99$343,147,411$24,764,514$10,239,818$248,911,773
100$378,046,940$25,876,468$10,481,345$273,799,190