Can I retire at age 55 with 2,020,000?

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 $2,020,000?

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 years$166,810$165,324$163,874$162,459$161,078$159,728
2 years$82,579$81,041$79,551$78,105$76,704$75,343
3 years$54,506$52,961$51,474$50,043$48,664$47,335
4 years$40,472$38,932$37,460$36,053$34,708$33,421
5 years$32,054$30,523$29,071$27,692$26,384$25,143
6 years$26,444$24,925$23,493$22,146$20,877$19,683
7 years$22,438$20,932$19,523$18,207$16,978$15,832
8 years$19,435$17,942$16,557$15,274$14,085$12,986
9 years$17,101$15,622$14,261$13,010$11,862$10,810
10 years$15,234$13,770$12,433$11,214$10,107$9,102
11 years$13,708$12,259$10,946$9,760$8,692$7,733
12 years$12,437$11,003$9,714$8,561$7,533$6,619
13 years$11,363$9,943$8,679$7,558$6,569$5,699
14 years$10,443$9,038$7,798$6,709$5,758$4,931
15 years$9,646$8,256$7,040$5,983$5,070$4,285
16 years$8,949$7,575$6,383$5,357$4,481$3,736
17 years$8,335$6,976$5,808$4,814$3,973$3,268
18 years$7,790$6,447$5,302$4,338$3,532$2,865
19 years$7,303$5,975$4,854$3,920$3,149$2,518
20 years$6,865$5,552$4,455$3,550$2,812$2,217
21 years$6,470$5,171$4,098$3,222$2,517$1,955
22 years$6,110$4,827$3,777$2,929$2,256$1,727
23 years$5,783$4,515$3,487$2,668$2,025$1,527
24 years$5,483$4,230$3,225$2,433$1,820$1,352
25 years$5,208$3,970$2,987$2,222$1,638$1,198
26 years$4,954$3,731$2,770$2,032$1,475$1,062
27 years$4,720$3,511$2,572$1,860$1,330$943
28 years$4,502$3,309$2,391$1,704$1,200$838
29 years$4,300$3,121$2,225$1,563$1,084$744
30 years$4,112$2,948$2,073$1,434$979$662
31 years$3,936$2,787$1,932$1,317$885$589
32 years$3,772$2,637$1,803$1,210$801$524
33 years$3,618$2,497$1,683$1,113$725$466
34 years$3,473$2,367$1,573$1,024$656$415
35 years$3,337$2,245$1,471$943$594$370
36 years$3,208$2,131$1,376$868$538$330
37 years$3,087$2,023$1,288$800$488$294
38 years$2,973$1,923$1,206$737$442$262
39 years$2,864$1,829$1,130$680$401$234
40 years$2,762$1,740$1,059$627$364$208
41 years$2,664$1,656$993$579$330$186
42 years$2,572$1,577$931$534$300$166
43 years$2,484$1,503$874$493$272$148
44 years$2,400$1,432$820$455$247$132
45 years$2,320$1,366$770$420$224$118
46 years$2,244$1,303$723$388$203$105
47 years$2,172$1,244$680$359$185$94
48 years$2,102$1,187$639$331$168$84
49 years$2,036$1,134$600$306$152$75
50 years$1,972$1,083$564$283$138$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,020,000, adding $4,556 every year, while hoping to spend $52,739 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: 65/21/14 Blend
54$2,020,000$2,020,000$2,020,000$2,020,000
55$2,230,740$2,123,680$2,092,370$2,368,067
56$2,402,161$2,171,626$2,106,350$2,508,384
57$2,589,300$2,220,154$2,119,031$2,655,101
58$2,793,704$2,269,237$2,130,314$2,814,108
59$3,017,076$2,318,844$2,140,094$2,986,606
60$3,261,293$2,368,942$2,148,262$3,173,914
61$3,528,418$2,419,494$2,154,702$3,377,486
62$3,820,726$2,470,458$2,159,294$3,598,925
63$4,140,721$2,521,791$2,161,911$3,839,997
64$4,491,158$2,573,443$2,162,419$4,102,646
65$4,875,075$2,625,361$2,160,679$4,389,015
66$5,295,815$2,677,486$2,156,544$4,701,466
67$5,757,060$2,729,754$2,149,860$5,042,598
68$6,262,866$2,782,098$2,140,466$5,415,281
69$6,817,699$2,834,442$2,128,193$5,822,671
70$7,426,480$2,886,705$2,112,863$6,268,251
71$8,094,628$2,938,801$2,094,291$6,755,856
72$8,828,113$2,990,635$2,072,282$7,289,714
73$9,633,510$3,042,105$2,046,633$7,874,483
74$10,518,062$3,093,102$2,017,129$8,515,297
75$11,489,750$3,143,510$1,983,549$9,217,813
76$12,557,363$3,193,201$1,945,656$9,988,267
77$13,730,587$3,242,040$1,903,208$10,833,531
78$15,020,088$3,289,882$1,855,948$11,761,178
79$16,437,622$3,336,571$1,803,607$12,779,554
80$17,996,138$3,381,941$1,745,905$13,897,857
81$19,709,900$3,425,812$1,682,550$15,126,225
82$21,594,629$3,467,996$1,613,234$16,475,832
83$23,667,641$3,508,288$1,537,637$17,958,990
84$25,948,017$3,546,470$1,455,424$19,589,271
85$28,456,778$3,582,311$1,366,245$21,381,631
86$31,217,088$3,615,563$1,269,733$23,352,555
87$34,254,468$3,645,963$1,165,506$25,520,211
88$37,597,038$3,673,229$1,053,164$27,904,621
89$41,275,781$3,697,062$932,291$30,527,853
90$45,324,838$3,717,145$802,449$33,414,229
91$49,781,824$3,733,137$663,184$36,590,554
92$54,688,189$3,744,680$514,019$40,086,368
93$60,089,604$3,751,390$354,459$43,934,233
94$66,036,396$3,752,860$183,986$48,170,030
95$72,584,016$3,748,658$2,057$52,833,308
96$79,793,569$3,738,325$0$57,967,654
97$87,732,384$3,721,375$0$63,649,798
98$96,474,655$3,697,290$0$69,906,181
99$106,102,135$3,665,522$0$76,794,935
100$116,704,910$3,625,490$0$84,380,459