Can I retire at age 55 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$170,113$168,598$167,119$165,676$164,267$161,281
2 years$84,214$82,646$81,126$79,652$78,223$75,224
3 years$55,585$54,010$52,494$51,034$49,628$46,711
4 years$41,273$39,703$38,202$36,767$35,395$32,582
5 years$32,689$31,128$29,646$28,241$26,907$24,206
6 years$26,967$25,418$23,959$22,584$21,290$18,705
7 years$22,882$21,346$19,910$18,568$17,315$14,846
8 years$19,820$18,298$16,885$15,576$14,364$12,011
9 years$17,439$15,931$14,543$13,267$12,097$9,857
10 years$15,536$14,043$12,679$11,437$10,307$8,179
11 years$13,980$12,501$11,162$9,953$8,864$6,846
12 years$12,684$11,221$9,906$8,730$7,682$5,770
13 years$11,588$10,140$8,851$7,708$6,699$4,891
14 years$10,649$9,217$7,952$6,842$5,872$4,165
15 years$9,837$8,420$7,180$6,102$5,170$3,560
16 years$9,127$7,725$6,510$5,463$4,569$3,053
17 years$8,501$7,115$5,924$4,909$4,052$2,626
18 years$7,945$6,574$5,407$4,424$3,602$2,263
19 years$7,448$6,093$4,950$3,997$3,211$1,954
20 years$7,001$5,662$4,543$3,620$2,868$1,690
21 years$6,598$5,274$4,179$3,286$2,567$1,464
22 years$6,231$4,923$3,851$2,987$2,301$1,270
23 years$5,897$4,604$3,556$2,721$2,065$1,102
24 years$5,592$4,314$3,289$2,481$1,856$958
25 years$5,311$4,048$3,046$2,266$1,670$833
26 years$5,052$3,805$2,825$2,072$1,505$725
27 years$4,813$3,581$2,623$1,897$1,356$631
28 years$4,591$3,374$2,439$1,738$1,224$550
29 years$4,385$3,183$2,269$1,594$1,105$479
30 years$4,193$3,006$2,114$1,462$999$418
31 years$4,014$2,842$1,971$1,343$903$364
32 years$3,846$2,689$1,839$1,234$817$318
33 years$3,689$2,546$1,717$1,135$739$277
34 years$3,542$2,413$1,604$1,044$669$242
35 years$3,403$2,289$1,500$961$606$211
36 years$3,272$2,173$1,403$885$549$185
37 years$3,148$2,064$1,313$816$498$161
38 years$3,032$1,961$1,230$752$451$141
39 years$2,921$1,865$1,152$693$409$123
40 years$2,816$1,774$1,080$640$371$107
41 years$2,717$1,689$1,013$590$337$94
42 years$2,623$1,608$950$545$306$82
43 years$2,533$1,533$891$503$277$72
44 years$2,448$1,461$837$464$252$63
45 years$2,366$1,393$786$429$228$55
46 years$2,289$1,329$738$396$207$48
47 years$2,215$1,268$693$366$188$42
48 years$2,144$1,211$651$338$171$36
49 years$2,076$1,156$612$312$155$32
50 years$2,011$1,104$576$289$141$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,060,000, adding $2,810 every year, while hoping to spend $26,005 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: 40/44/16 Blend
54$2,060,000$2,060,000$2,060,000$2,060,000
55$2,273,019$2,163,839$2,131,909$2,353,024
56$2,477,197$2,242,197$2,175,658$2,488,498
57$2,701,331$2,323,524$2,220,002$2,632,225
58$2,947,427$2,407,937$2,264,933$2,787,156
59$3,217,697$2,495,559$2,310,441$2,954,322
60$3,514,579$2,586,518$2,356,517$3,134,854
61$3,840,755$2,680,947$2,403,150$3,329,996
62$4,199,184$2,778,985$2,450,327$3,541,112
63$4,593,123$2,880,778$2,498,035$3,769,704
64$5,026,161$2,986,475$2,546,259$4,017,420
65$5,502,251$3,096,234$2,594,980$4,286,073
66$6,025,751$3,210,220$2,644,182$4,577,657
67$6,601,459$3,328,602$2,693,844$4,894,362
68$7,234,663$3,451,559$2,743,943$5,238,598
69$7,931,190$3,579,276$2,794,456$5,613,015
70$8,697,458$3,711,947$2,845,357$6,020,527
71$9,540,539$3,849,774$2,896,617$6,464,340
72$10,468,228$3,992,966$2,948,207$6,947,981
73$11,489,109$4,141,743$3,000,094$7,475,332
74$12,612,643$4,296,333$3,052,242$8,050,662
75$13,849,254$4,456,976$3,104,614$8,678,670
76$15,210,429$4,623,918$3,157,169$9,364,526
77$16,708,822$4,797,420$3,209,864$10,113,923
78$18,358,380$4,977,752$3,262,653$10,933,125
79$20,174,469$5,165,196$3,315,486$11,829,026
80$22,174,020$5,360,045$3,368,310$12,809,219
81$24,375,691$5,562,608$3,421,069$13,882,058
82$26,800,039$5,773,204$3,473,702$15,056,746
83$29,469,719$5,992,167$3,526,147$16,343,410
84$32,409,693$6,219,845$3,578,336$17,753,203
85$35,647,467$6,456,603$3,630,195$19,298,408
86$39,213,351$6,702,819$3,681,649$20,992,547
87$43,140,746$6,958,890$3,732,618$22,850,513
88$47,466,455$7,225,229$3,783,013$24,888,705
89$52,231,036$7,502,268$3,832,746$27,125,184
90$57,479,178$7,790,455$3,881,720$29,579,844
91$63,260,129$8,090,262$3,929,832$32,274,591
92$69,628,156$8,402,179$3,976,975$35,233,556
93$76,643,060$8,726,718$4,023,036$38,483,317
94$84,370,738$9,064,413$4,067,894$42,053,148
95$92,883,807$9,415,823$4,111,422$45,975,295
96$102,262,288$9,781,531$4,153,488$50,285,279
97$112,594,360$10,162,145$4,193,948$55,022,228
98$123,977,195$10,558,301$4,232,656$60,229,242
99$136,517,873$10,970,661$4,269,454$65,953,804
100$150,334,393$11,399,921$4,304,178$72,248,221