Can I retire at age 55 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$160,203$158,776$157,384$156,025$154,698$149,926
2 years$79,309$77,832$76,400$75,012$73,666$68,900
3 years$52,347$50,864$49,436$48,061$46,737$42,126
4 years$38,869$37,390$35,977$34,625$33,333$28,913
5 years$30,784$29,314$27,919$26,596$25,339$21,122
6 years$25,396$23,937$22,563$21,269$20,050$16,040
7 years$21,549$20,103$18,750$17,486$16,306$12,502
8 years$18,665$17,232$15,901$14,669$13,527$9,927
9 years$16,423$15,003$13,696$12,494$11,392$7,991
10 years$14,631$13,225$11,940$10,770$9,707$6,501
11 years$13,165$11,773$10,512$9,373$8,348$5,331
12 years$11,945$10,567$9,329$8,222$7,234$4,400
13 years$10,913$9,549$8,335$7,259$6,308$3,651
14 years$10,029$8,680$7,489$6,443$5,530$3,041
15 years$9,264$7,929$6,762$5,746$4,869$2,542
16 years$8,595$7,275$6,130$5,145$4,303$2,131
17 years$8,005$6,700$5,578$4,623$3,816$1,791
18 years$7,482$6,191$5,092$4,166$3,393$1,507
19 years$7,014$5,738$4,662$3,765$3,024$1,271
20 years$6,593$5,332$4,278$3,409$2,701$1,073
21 years$6,213$4,967$3,935$3,094$2,417$907
22 years$5,868$4,636$3,627$2,813$2,167$767
23 years$5,554$4,336$3,349$2,562$1,945$650
24 years$5,266$4,063$3,097$2,337$1,748$550
25 years$5,002$3,813$2,869$2,134$1,573$466
26 years$4,758$3,583$2,660$1,951$1,417$396
27 years$4,533$3,372$2,470$1,786$1,277$336
28 years$4,324$3,178$2,297$1,637$1,153$285
29 years$4,130$2,998$2,137$1,501$1,041$242
30 years$3,949$2,831$1,991$1,377$940$205
31 years$3,780$2,676$1,856$1,265$850$174
32 years$3,622$2,532$1,732$1,163$769$148
33 years$3,474$2,398$1,617$1,069$696$126
34 years$3,335$2,273$1,511$984$630$107
35 years$3,204$2,156$1,412$905$571$91
36 years$3,081$2,046$1,321$834$517$77
37 years$2,965$1,943$1,237$768$469$66
38 years$2,855$1,847$1,158$708$425$56
39 years$2,751$1,756$1,085$653$385$47
40 years$2,652$1,671$1,017$602$350$40
41 years$2,559$1,591$954$556$317$34
42 years$2,470$1,515$894$513$288$29
43 years$2,385$1,443$839$473$261$25
44 years$2,305$1,376$788$437$237$21
45 years$2,228$1,312$740$404$215$18
46 years$2,155$1,251$695$373$195$15
47 years$2,086$1,194$653$345$177$13
48 years$2,019$1,140$613$318$161$11
49 years$1,955$1,089$577$294$146$9
50 years$1,894$1,040$542$272$133$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,940,000, adding $2,578 every year, while hoping to spend $31,644 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: 35/40/25 Blend
54$1,940,000$1,940,000$1,940,000$1,940,000
55$2,140,539$2,037,719$2,007,649$2,199,190
56$2,325,205$2,103,898$2,041,236$2,309,176
57$2,527,647$2,172,260$2,074,888$2,424,704
58$2,749,643$2,242,877$2,108,574$2,548,732
59$2,993,155$2,315,826$2,142,259$2,682,039
60$3,260,341$2,391,186$2,175,909$2,825,482
61$3,553,579$2,469,037$2,209,485$2,980,002
62$3,875,489$2,549,465$2,242,948$3,146,635
63$4,228,956$2,632,556$2,276,254$3,326,520
64$4,617,159$2,718,401$2,309,358$3,520,907
65$5,043,600$2,807,093$2,342,212$3,731,176
66$5,512,135$2,898,729$2,374,764$3,958,841
67$6,027,015$2,993,409$2,406,961$4,205,568
68$6,592,921$3,091,237$2,438,745$4,473,194
69$7,215,011$3,192,319$2,470,055$4,763,736
70$7,898,967$3,296,767$2,500,826$5,079,415
71$8,651,048$3,404,696$2,530,991$5,422,678
72$9,478,154$3,516,224$2,560,477$5,796,216
73$10,387,882$3,631,476$2,589,210$6,202,993
74$11,388,605$3,750,578$2,617,108$6,646,269
75$12,489,549$3,873,662$2,644,087$7,129,638
76$13,700,878$4,000,866$2,670,058$7,657,054
77$15,033,789$4,132,330$2,694,927$8,232,872
78$16,500,624$4,268,202$2,718,595$8,861,887
79$18,114,977$4,408,634$2,740,958$9,549,379
80$19,891,830$4,553,782$2,761,905$10,301,166
81$21,847,689$4,703,810$2,781,322$11,123,652
82$24,000,743$4,858,887$2,799,086$12,023,891
83$26,371,033$5,019,187$2,815,070$13,009,655
84$28,980,643$5,184,891$2,829,139$14,089,502
85$31,853,905$5,356,187$2,841,151$15,272,860
86$35,017,633$5,533,270$2,850,960$16,570,114
87$38,501,372$5,716,341$2,858,407$17,992,704
88$42,337,679$5,905,609$2,863,331$19,553,233
89$46,562,428$6,101,289$2,865,558$21,265,584
90$51,215,149$6,303,606$2,864,908$23,145,051
91$56,339,404$6,512,792$2,861,192$25,208,484
92$61,983,193$6,729,089$2,854,211$27,474,448
93$68,199,409$6,952,744$2,843,758$29,963,393
94$75,046,338$7,184,018$2,829,613$32,697,854
95$82,588,207$7,423,177$2,811,547$35,702,656
96$90,895,792$7,670,501$2,789,322$39,005,152
97$100,047,083$7,926,276$2,762,685$42,635,480
98$110,128,024$8,190,801$2,731,373$46,626,844
99$121,233,319$8,464,387$2,695,110$51,015,832
100$133,467,329$8,747,354$2,653,608$55,842,756