Can I retire at age 55 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$163,507$162,050$160,629$159,242$157,888$154,574
2 years$80,944$79,436$77,975$76,559$75,185$71,861
3 years$53,427$51,913$50,455$49,052$47,700$44,471
4 years$39,671$38,161$36,718$35,339$34,020$30,911
5 years$31,419$29,919$28,495$27,144$25,862$22,880
6 years$25,920$24,431$23,028$21,707$20,463$17,614
7 years$21,994$20,517$19,137$17,847$16,642$13,924
8 years$19,050$17,587$16,229$14,971$13,806$11,219
9 years$16,762$15,313$13,978$12,752$11,627$9,169
10 years$14,932$13,497$12,187$10,992$9,907$7,576
11 years$13,437$12,016$10,729$9,567$8,520$6,313
12 years$12,191$10,785$9,522$8,391$7,383$5,297
13 years$11,138$9,746$8,507$7,408$6,438$4,469
14 years$10,236$8,859$7,644$6,576$5,644$3,788
15 years$9,455$8,093$6,901$5,865$4,969$3,222
16 years$8,772$7,425$6,257$5,251$4,392$2,750
17 years$8,170$6,838$5,693$4,718$3,894$2,353
18 years$7,636$6,319$5,197$4,252$3,463$2,017
19 years$7,159$5,856$4,758$3,842$3,086$1,733
20 years$6,729$5,442$4,367$3,480$2,757$1,491
21 years$6,342$5,069$4,016$3,158$2,467$1,285
22 years$5,989$4,732$3,702$2,871$2,211$1,108
23 years$5,668$4,425$3,418$2,615$1,985$957
24 years$5,375$4,146$3,161$2,385$1,784$827
25 years$5,105$3,891$2,928$2,178$1,605$715
26 years$4,856$3,657$2,715$1,992$1,446$619
27 years$4,626$3,442$2,521$1,823$1,304$536
28 years$4,413$3,243$2,344$1,670$1,176$464
29 years$4,215$3,059$2,181$1,532$1,062$402
30 years$4,030$2,889$2,032$1,406$960$349
31 years$3,858$2,731$1,894$1,291$868$302
32 years$3,697$2,584$1,767$1,186$785$262
33 years$3,546$2,448$1,650$1,091$710$227
34 years$3,404$2,320$1,542$1,004$643$197
35 years$3,270$2,200$1,441$924$583$171
36 years$3,145$2,088$1,348$851$528$149
37 years$3,026$1,983$1,262$784$478$129
38 years$2,914$1,885$1,182$723$434$112
39 years$2,808$1,792$1,107$666$393$97
40 years$2,707$1,705$1,038$615$357$84
41 years$2,612$1,623$973$567$324$73
42 years$2,521$1,546$913$523$294$64
43 years$2,435$1,473$857$483$267$55
44 years$2,353$1,404$804$446$242$48
45 years$2,274$1,339$755$412$220$42
46 years$2,200$1,277$709$381$199$36
47 years$2,129$1,219$666$352$181$31
48 years$2,060$1,164$626$325$164$27
49 years$1,995$1,111$588$300$149$24
50 years$1,933$1,061$553$278$136$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,980,000, adding $6,416 every year, while hoping to spend $44,298 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: 40/35/25 Blend
54$1,980,000$1,980,000$1,980,000$1,980,000
55$2,188,578$2,083,638$2,052,948$2,259,724
56$2,364,680$2,138,604$2,074,589$2,366,687
57$2,557,260$2,194,778$2,095,470$2,477,695
58$2,767,952$2,252,173$2,115,520$2,596,922
59$2,998,555$2,310,801$2,134,661$2,725,147
60$3,251,049$2,370,672$2,152,814$2,863,227
61$3,527,617$2,431,796$2,169,895$3,012,105
62$3,830,662$2,494,182$2,185,814$3,172,820
63$4,162,829$2,557,836$2,200,478$3,346,517
64$4,527,032$2,622,765$2,213,788$3,534,457
65$4,926,481$2,688,972$2,225,642$3,738,031
66$5,364,711$2,756,460$2,235,930$3,958,770
67$5,845,616$2,825,231$2,244,538$4,198,361
68$6,373,484$2,895,284$2,251,346$4,458,663
69$6,953,042$2,966,615$2,256,229$4,741,725
70$7,589,492$3,039,219$2,259,052$5,049,806
71$8,288,569$3,113,089$2,259,679$5,385,394
72$9,056,587$3,188,215$2,257,962$5,751,232
73$9,900,504$3,264,583$2,253,749$6,150,343
74$10,827,986$3,342,177$2,246,880$6,586,057
75$11,847,476$3,420,979$2,237,186$7,062,048
76$12,968,277$3,500,966$2,224,491$7,582,362
77$14,200,640$3,582,112$2,208,609$8,151,460
78$15,555,856$3,664,386$2,189,348$8,774,258
79$17,046,366$3,747,754$2,166,505$9,456,177
80$18,685,879$3,832,178$2,139,866$10,203,188
81$20,489,497$3,917,613$2,109,210$11,021,877
82$22,473,860$4,004,010$2,074,303$11,919,499
83$24,657,303$4,091,315$2,034,901$12,904,055
84$27,060,027$4,179,469$1,990,749$13,984,361
85$29,704,290$4,268,404$1,941,580$15,170,136
86$32,614,619$4,358,047$1,887,114$16,472,091
87$35,818,037$4,448,318$1,827,059$17,902,033
88$39,344,321$4,539,129$1,761,110$19,472,978
89$43,226,280$4,630,385$1,688,945$21,199,270
90$47,500,067$4,721,980$1,610,231$23,096,721
91$52,205,518$4,813,802$1,524,619$25,182,759
92$57,386,530$4,905,727$1,431,743$27,476,594
93$63,091,471$4,997,622$1,331,220$29,999,400
94$69,373,638$5,089,343$1,222,653$32,774,514
95$76,291,762$5,180,733$1,105,625$35,827,659
96$83,910,557$5,271,625$979,699$39,187,189
97$92,301,337$5,361,837$844,422$42,884,354
98$101,542,680$5,451,175$699,317$46,953,599
99$111,721,180$5,539,428$543,890$51,432,887
100$122,932,252$5,626,372$377,622$56,364,063