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%12.4%
1 years$162,681$161,232$159,818$158,438$157,091$155,515
2 years$80,535$79,035$77,582$76,172$74,805$73,218
3 years$53,157$51,650$50,200$48,804$47,459$45,910
4 years$39,470$37,968$36,533$35,161$33,848$32,349
5 years$31,260$29,768$28,351$27,007$25,731$24,286
6 years$25,789$24,308$22,912$21,598$20,360$18,971
7 years$21,883$20,413$19,040$17,757$16,558$15,226
8 years$18,954$17,498$16,147$14,896$13,737$12,461
9 years$16,677$15,235$13,908$12,688$11,568$10,348
10 years$14,857$13,429$12,125$10,937$9,857$8,692
11 years$13,369$11,955$10,675$9,518$8,477$7,367
12 years$12,129$10,730$9,474$8,349$7,346$6,289
13 years$11,082$9,697$8,464$7,371$6,406$5,401
14 years$10,184$8,814$7,605$6,543$5,615$4,661
15 years$9,407$8,052$6,866$5,835$4,944$4,039
16 years$8,728$7,388$6,225$5,225$4,370$3,512
17 years$8,129$6,804$5,665$4,694$3,875$3,063
18 years$7,598$6,287$5,171$4,231$3,445$2,678
19 years$7,122$5,827$4,734$3,823$3,071$2,347
20 years$6,695$5,414$4,345$3,462$2,743$2,060
21 years$6,310$5,043$3,996$3,142$2,454$1,812
22 years$5,959$4,708$3,683$2,857$2,200$1,595
23 years$5,640$4,403$3,401$2,602$1,975$1,407
24 years$5,347$4,125$3,145$2,373$1,775$1,241
25 years$5,079$3,871$2,913$2,167$1,597$1,097
26 years$4,831$3,639$2,702$1,982$1,439$970
27 years$4,603$3,424$2,509$1,814$1,297$858
28 years$4,391$3,227$2,332$1,662$1,170$759
29 years$4,194$3,044$2,170$1,524$1,057$673
30 years$4,010$2,875$2,022$1,399$955$596
31 years$3,839$2,718$1,885$1,285$863$529
32 years$3,678$2,571$1,758$1,180$781$469
33 years$3,528$2,435$1,642$1,086$707$416
34 years$3,387$2,308$1,534$999$640$369
35 years$3,254$2,189$1,434$919$580$328
36 years$3,129$2,078$1,342$847$525$291
37 years$3,011$1,973$1,256$780$476$259
38 years$2,899$1,875$1,176$719$432$230
39 years$2,793$1,783$1,102$663$391$204
40 years$2,693$1,697$1,033$612$355$181
41 years$2,598$1,615$968$564$322$161
42 years$2,508$1,538$908$521$292$143
43 years$2,422$1,466$852$481$265$127
44 years$2,341$1,397$800$444$241$113
45 years$2,263$1,332$751$410$219$101
46 years$2,189$1,271$706$379$198$90
47 years$2,118$1,213$663$350$180$80
48 years$2,050$1,158$623$323$164$71
49 years$1,985$1,106$586$299$149$63
50 years$1,923$1,056$550$276$135$56

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 $4,320 every year, while hoping to spend $54,715 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: 39/50/11 Blend
54$1,970,000$1,970,000$1,970,000$1,970,000
55$2,175,396$2,070,986$2,040,451$2,252,840
56$2,339,070$2,114,248$2,050,590$2,351,287
57$2,517,605$2,157,796$2,059,234$2,451,966
58$2,712,459$2,201,586$2,066,277$2,559,607
59$2,925,237$2,245,571$2,071,604$2,674,863
60$3,157,706$2,289,699$2,075,098$2,798,452
61$3,411,810$2,333,912$2,076,632$2,931,167
62$3,689,692$2,378,151$2,076,076$3,073,881
63$3,993,709$2,422,349$2,073,293$3,227,556
64$4,326,457$2,466,433$2,068,138$3,393,256
65$4,690,795$2,510,328$2,060,460$3,572,151
66$5,089,871$2,553,949$2,050,101$3,765,532
67$5,527,152$2,597,208$2,036,894$3,974,825
68$6,006,457$2,640,006$2,020,665$4,201,598
69$6,531,990$2,682,241$2,001,232$4,447,586
70$7,108,383$2,723,801$1,978,403$4,714,697
71$7,740,738$2,764,566$1,951,979$5,005,040
72$8,434,672$2,804,409$1,921,749$5,320,939
73$9,196,376$2,843,192$1,887,495$5,664,956
74$10,032,666$2,880,769$1,848,986$6,039,919
75$10,951,054$2,916,982$1,805,982$6,448,947
76$11,959,811$2,951,664$1,758,232$6,895,477
77$13,068,051$2,984,635$1,705,473$7,383,304
78$14,285,815$3,015,704$1,647,429$7,916,610
79$15,624,162$3,044,668$1,583,812$8,500,011
80$17,095,279$3,071,309$1,514,322$9,138,595
81$18,712,589$3,095,395$1,438,643$9,837,974
82$20,490,883$3,116,679$1,356,447$10,604,339
83$22,446,455$3,134,899$1,267,391$11,444,516
84$24,597,260$3,149,775$1,171,114$12,366,034
85$26,963,076$3,161,009$1,067,242$13,377,196
86$29,565,697$3,168,287$955,383$14,487,157
87$32,429,137$3,171,271$835,126$15,706,016
88$35,579,851$3,169,605$706,045$17,044,907
89$39,046,990$3,162,910$567,692$18,516,111
90$42,862,674$3,150,784$419,601$20,133,166
91$47,062,295$3,132,800$261,285$21,911,006
92$51,684,846$3,108,505$92,236$23,866,094
93$56,773,298$3,077,419$0$26,016,586
94$62,374,994$3,039,032$0$28,392,848
95$68,542,104$2,992,805$0$31,018,830
96$75,332,112$2,938,167$0$33,908,101
97$82,808,361$2,874,510$0$37,087,565
98$91,040,647$2,801,194$0$40,586,884
99$100,105,879$2,717,539$0$44,438,754
100$110,088,807$2,622,826$0$48,679,222