Can I retire at age 55 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$162,681$161,232$159,818$158,438$157,091$150,917
2 years$80,535$79,035$77,582$76,172$74,805$68,661
3 years$53,157$51,650$50,200$48,804$47,459$41,538
4 years$39,470$37,968$36,533$35,161$33,848$28,195
5 years$31,260$29,768$28,351$27,007$25,731$20,360
6 years$25,789$24,308$22,912$21,598$20,360$15,275
7 years$21,883$20,413$19,040$17,757$16,558$11,757
8 years$18,954$17,498$16,147$14,896$13,737$9,215
9 years$16,677$15,235$13,908$12,688$11,568$7,319
10 years$14,857$13,429$12,125$10,937$9,857$5,871
11 years$13,369$11,955$10,675$9,518$8,477$4,747
12 years$12,129$10,730$9,474$8,349$7,346$3,861
13 years$11,082$9,697$8,464$7,371$6,406$3,155
14 years$10,184$8,814$7,605$6,543$5,615$2,589
15 years$9,407$8,052$6,866$5,835$4,944$2,130
16 years$8,728$7,388$6,225$5,225$4,370$1,758
17 years$8,129$6,804$5,665$4,694$3,875$1,453
18 years$7,598$6,287$5,171$4,231$3,445$1,203
19 years$7,122$5,827$4,734$3,823$3,071$998
20 years$6,695$5,414$4,345$3,462$2,743$828
21 years$6,310$5,043$3,996$3,142$2,454$688
22 years$5,959$4,708$3,683$2,857$2,200$572
23 years$5,640$4,403$3,401$2,602$1,975$476
24 years$5,347$4,125$3,145$2,373$1,775$396
25 years$5,079$3,871$2,913$2,167$1,597$330
26 years$4,831$3,639$2,702$1,982$1,439$275
27 years$4,603$3,424$2,509$1,814$1,297$229
28 years$4,391$3,227$2,332$1,662$1,170$191
29 years$4,194$3,044$2,170$1,524$1,057$159
30 years$4,010$2,875$2,022$1,399$955$133
31 years$3,839$2,718$1,885$1,285$863$111
32 years$3,678$2,571$1,758$1,180$781$92
33 years$3,528$2,435$1,642$1,086$707$77
34 years$3,387$2,308$1,534$999$640$64
35 years$3,254$2,189$1,434$919$580$54
36 years$3,129$2,078$1,342$847$525$45
37 years$3,011$1,973$1,256$780$476$37
38 years$2,899$1,875$1,176$719$432$31
39 years$2,793$1,783$1,102$663$391$26
40 years$2,693$1,697$1,033$612$355$22
41 years$2,598$1,615$968$564$322$18
42 years$2,508$1,538$908$521$292$15
43 years$2,422$1,466$852$481$265$13
44 years$2,341$1,397$800$444$241$11
45 years$2,263$1,332$751$410$219$9
46 years$2,189$1,271$706$379$198$7
47 years$2,118$1,213$663$350$180$6
48 years$2,050$1,158$623$323$164$5
49 years$1,985$1,106$586$299$149$4
50 years$1,923$1,056$550$276$135$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,970,000, adding $6,216 every year, while hoping to spend $46,123 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: 40/48/12 Blend
54$1,970,000$1,970,000$1,970,000$1,970,000
55$2,177,352$2,072,942$2,042,407$2,256,405
56$2,350,367$2,125,441$2,061,753$2,365,296
57$2,539,484$2,178,968$2,080,201$2,478,004
58$2,746,297$2,233,522$2,097,673$2,598,913
59$2,972,559$2,289,105$2,114,085$2,728,784
60$3,220,204$2,345,715$2,129,351$2,868,459
61$3,491,359$2,403,349$2,143,378$3,018,863
62$3,788,366$2,462,001$2,156,070$3,181,014
63$4,113,806$2,521,666$2,167,325$3,356,033
64$4,470,520$2,582,334$2,177,036$3,545,156
65$4,861,638$2,643,993$2,185,091$3,749,742
66$5,290,606$2,706,630$2,191,373$3,971,288
67$5,761,221$2,770,228$2,195,757$4,211,446
68$6,277,664$2,834,768$2,198,114$4,472,033
69$6,844,542$2,900,227$2,198,307$4,755,050
70$7,466,928$2,966,581$2,196,193$5,062,704
71$8,150,411$3,033,800$2,191,622$5,397,425
72$8,901,147$3,101,851$2,184,436$5,761,892
73$9,725,920$3,170,697$2,174,470$6,159,055
74$10,632,200$3,240,298$2,161,551$6,592,165
75$11,628,220$3,310,607$2,145,498$7,064,807
76$12,723,047$3,381,575$2,126,121$7,580,927
77$13,926,671$3,453,146$2,103,220$8,144,879
78$15,250,101$3,525,260$2,076,586$8,761,457
79$16,705,462$3,597,848$2,046,003$9,435,945
80$18,306,115$3,670,838$2,011,240$10,174,170
81$20,066,780$3,744,151$1,972,058$10,982,548
82$22,003,677$3,817,700$1,928,207$11,868,157
83$24,134,675$3,891,390$1,879,425$12,838,792
84$26,479,463$3,965,120$1,825,437$13,903,047
85$29,059,736$4,038,778$1,765,957$15,070,395
86$31,899,397$4,112,246$1,700,684$16,351,275
87$35,024,784$4,185,394$1,629,305$17,757,192
88$38,464,917$4,258,084$1,551,492$19,300,829
89$42,251,773$4,330,164$1,466,902$20,996,164
90$46,420,586$4,401,475$1,375,176$22,858,601
91$51,010,181$4,471,843$1,275,940$24,905,122
92$56,063,338$4,541,082$1,168,802$27,154,443
93$61,627,196$4,608,992$1,053,354$29,627,190
94$67,753,697$4,675,359$929,169$32,346,101
95$74,500,078$4,739,956$795,799$35,336,234
96$81,929,408$4,802,536$652,781$38,625,209
97$90,111,185$4,862,837$499,626$42,243,471
98$99,121,990$4,920,580$335,828$46,224,571
99$109,046,210$4,975,466$160,855$50,605,492
100$119,976,834$5,027,175$0$55,426,994