Can I retire at age 55 with 1,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$161,855$160,413$159,007$157,634$156,293$154,919
2 years$80,126$78,634$77,188$75,785$74,425$73,041
3 years$52,887$51,388$49,946$48,556$47,218$45,866
4 years$39,270$37,776$36,348$34,982$33,677$32,367
5 years$31,102$29,617$28,207$26,870$25,600$24,337
6 years$25,658$24,184$22,796$21,488$20,257$19,042
7 years$21,771$20,310$18,943$17,666$16,474$15,308
8 years$18,858$17,409$16,065$14,820$13,667$12,549
9 years$16,593$15,158$13,837$12,623$11,510$10,440
10 years$14,782$13,361$12,064$10,881$9,807$8,785
11 years$13,301$11,894$10,621$9,470$8,434$7,460
12 years$12,068$10,676$9,425$8,307$7,309$6,380
13 years$11,025$9,648$8,421$7,333$6,373$5,490
14 years$10,132$8,770$7,566$6,510$5,587$4,747
15 years$9,359$8,011$6,831$5,806$4,919$4,122
16 years$8,684$7,350$6,194$5,198$4,348$3,592
17 years$8,088$6,769$5,636$4,671$3,855$3,139
18 years$7,559$6,255$5,145$4,209$3,428$2,751
19 years$7,086$5,797$4,710$3,803$3,055$2,416
20 years$6,661$5,387$4,323$3,445$2,729$2,125
21 years$6,278$5,018$3,976$3,126$2,442$1,873
22 years$5,929$4,684$3,664$2,842$2,189$1,653
23 years$5,611$4,381$3,383$2,589$1,965$1,461
24 years$5,320$4,104$3,129$2,361$1,766$1,292
25 years$5,053$3,852$2,898$2,156$1,589$1,144
26 years$4,807$3,620$2,688$1,972$1,431$1,014
27 years$4,579$3,407$2,496$1,805$1,291$899
28 years$4,368$3,210$2,320$1,653$1,165$798
29 years$4,172$3,029$2,159$1,516$1,052$709
30 years$3,990$2,860$2,011$1,392$950$630
31 years$3,819$2,704$1,875$1,278$859$560
32 years$3,660$2,558$1,749$1,174$777$498
33 years$3,510$2,423$1,633$1,080$703$443
34 years$3,370$2,296$1,526$994$637$394
35 years$3,237$2,178$1,427$915$577$351
36 years$3,113$2,067$1,335$843$522$312
37 years$2,995$1,963$1,249$776$474$278
38 years$2,884$1,866$1,170$715$429$247
39 years$2,779$1,774$1,096$660$389$220
40 years$2,680$1,688$1,027$608$353$196
41 years$2,585$1,607$963$561$320$175
42 years$2,495$1,530$904$518$291$156
43 years$2,410$1,458$848$478$264$139
44 years$2,329$1,390$796$442$239$124
45 years$2,251$1,325$747$408$217$110
46 years$2,178$1,264$702$377$197$98
47 years$2,107$1,207$660$348$179$88
48 years$2,040$1,152$620$322$163$78
49 years$1,975$1,100$583$297$148$70
50 years$1,914$1,051$548$275$134$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,960,000, adding $5,352 every year, while hoping to spend $35,107 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: 55/31/14 Blend
54$1,960,000$1,960,000$1,960,000$1,960,000
55$2,165,441$2,061,561$2,031,181$2,276,344
56$2,348,962$2,125,223$2,061,872$2,415,978
57$2,550,026$2,190,829$2,092,414$2,563,685
58$2,770,385$2,258,436$2,122,766$2,723,714
59$3,011,968$2,328,103$2,152,883$2,897,245
60$3,276,901$2,399,893$2,182,717$3,085,582
61$3,567,526$2,473,869$2,212,219$3,290,155
62$3,886,421$2,550,095$2,241,335$3,512,542
63$4,236,425$2,628,639$2,270,009$3,754,478
64$4,620,668$2,709,570$2,298,182$4,017,873
65$5,042,595$2,792,958$2,325,791$4,304,830
66$5,506,004$2,878,877$2,352,769$4,617,663
67$6,015,076$2,967,402$2,379,046$4,958,923
68$6,574,418$3,058,609$2,404,548$5,331,416
69$7,189,106$3,152,579$2,429,198$5,738,233
70$7,864,732$3,249,391$2,452,913$6,182,777
71$8,607,454$3,349,132$2,475,605$6,668,797
72$9,424,061$3,451,885$2,497,185$7,200,421
73$10,322,029$3,557,742$2,517,554$7,782,197
74$11,309,596$3,666,791$2,536,612$8,419,133
75$12,395,839$3,779,128$2,554,253$9,116,744
76$13,590,758$3,894,848$2,570,363$9,881,107
77$14,905,370$4,014,051$2,584,825$10,718,916
78$16,351,816$4,136,837$2,597,515$11,637,543
79$17,943,471$4,263,312$2,608,302$12,645,112
80$19,695,074$4,393,584$2,617,049$13,750,569
81$21,622,864$4,527,761$2,623,613$14,963,774
82$23,744,734$4,665,959$2,627,841$16,295,585
83$26,080,398$4,808,293$2,629,575$17,757,968
84$28,651,582$4,954,883$2,628,650$19,364,105
85$31,482,223$5,105,851$2,624,889$21,128,519
86$34,598,697$5,261,325$2,618,110$23,067,211
87$38,030,068$5,421,434$2,608,120$25,197,812
88$41,808,361$5,586,310$2,594,718$27,539,746
89$45,968,866$5,756,091$2,577,693$30,114,417
90$50,550,467$5,930,917$2,556,823$32,945,407
91$55,596,015$6,110,932$2,531,877$36,058,699
92$61,152,725$6,296,284$2,502,611$39,482,926
93$67,272,625$6,487,124$2,468,771$43,249,633
94$74,013,048$6,683,609$2,430,090$47,393,584
95$81,437,171$6,885,898$2,386,290$51,953,080
96$89,614,610$7,094,154$2,337,079$56,970,328
97$98,622,080$7,308,548$2,282,150$62,491,836
98$108,544,116$7,529,250$2,221,186$68,568,849
99$119,473,870$7,756,437$2,153,850$75,257,839
100$131,513,994$7,990,292$2,079,793$82,621,029