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%11.8%
1 years$170,113$168,598$167,119$165,676$164,267$163,027
2 years$84,214$82,646$81,126$79,652$78,223$76,972
3 years$55,585$54,010$52,494$51,034$49,628$48,406
4 years$41,273$39,703$38,202$36,767$35,395$34,211
5 years$32,689$31,128$29,646$28,241$26,907$25,764
6 years$26,967$25,418$23,959$22,584$21,290$20,191
7 years$22,882$21,346$19,910$18,568$17,315$16,259
8 years$19,820$18,298$16,885$15,576$14,364$13,352
9 years$17,439$15,931$14,543$13,267$12,097$11,127
10 years$15,536$14,043$12,679$11,437$10,307$9,380
11 years$13,980$12,501$11,162$9,953$8,864$7,980
12 years$12,684$11,221$9,906$8,730$7,682$6,838
13 years$11,588$10,140$8,851$7,708$6,699$5,895
14 years$10,649$9,217$7,952$6,842$5,872$5,108
15 years$9,837$8,420$7,180$6,102$5,170$4,444
16 years$9,127$7,725$6,510$5,463$4,569$3,880
17 years$8,501$7,115$5,924$4,909$4,052$3,398
18 years$7,945$6,574$5,407$4,424$3,602$2,984
19 years$7,448$6,093$4,950$3,997$3,211$2,626
20 years$7,001$5,662$4,543$3,620$2,868$2,316
21 years$6,598$5,274$4,179$3,286$2,567$2,045
22 years$6,231$4,923$3,851$2,987$2,301$1,809
23 years$5,897$4,604$3,556$2,721$2,065$1,602
24 years$5,592$4,314$3,289$2,481$1,856$1,421
25 years$5,311$4,048$3,046$2,266$1,670$1,261
26 years$5,052$3,805$2,825$2,072$1,505$1,120
27 years$4,813$3,581$2,623$1,897$1,356$996
28 years$4,591$3,374$2,439$1,738$1,224$886
29 years$4,385$3,183$2,269$1,594$1,105$788
30 years$4,193$3,006$2,114$1,462$999$702
31 years$4,014$2,842$1,971$1,343$903$626
32 years$3,846$2,689$1,839$1,234$817$558
33 years$3,689$2,546$1,717$1,135$739$497
34 years$3,542$2,413$1,604$1,044$669$444
35 years$3,403$2,289$1,500$961$606$396
36 years$3,272$2,173$1,403$885$549$353
37 years$3,148$2,064$1,313$816$498$315
38 years$3,032$1,961$1,230$752$451$282
39 years$2,921$1,865$1,152$693$409$252
40 years$2,816$1,774$1,080$640$371$225
41 years$2,717$1,689$1,013$590$337$201
42 years$2,623$1,608$950$545$306$179
43 years$2,533$1,533$891$503$277$160
44 years$2,448$1,461$837$464$252$143
45 years$2,366$1,393$786$429$228$128
46 years$2,289$1,329$738$396$207$114
47 years$2,215$1,268$693$366$188$102
48 years$2,144$1,211$651$338$171$91
49 years$2,076$1,156$612$312$155$82
50 years$2,011$1,104$576$289$141$73

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 $4,630 every year, while hoping to spend $32,744 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: 34/41/25 Blend
54$2,060,000$2,060,000$2,060,000$2,060,000
55$2,274,896$2,165,716$2,133,786$2,334,826
56$2,472,096$2,236,997$2,170,428$2,451,339
57$2,688,313$2,310,673$2,207,201$2,573,609
58$2,925,452$2,386,827$2,244,073$2,704,812
59$3,185,612$2,465,545$2,281,013$2,845,762
60$3,471,103$2,546,916$2,317,986$2,997,356
61$3,784,472$2,631,031$2,354,955$3,160,577
62$4,128,524$2,717,987$2,391,882$3,336,506
63$4,506,346$2,807,881$2,428,723$3,526,334
64$4,921,343$2,900,817$2,465,435$3,731,368
65$5,377,263$2,996,901$2,501,970$3,953,045
66$5,878,237$3,096,241$2,538,279$4,192,948
67$6,428,813$3,198,953$2,574,307$4,452,816
68$7,034,004$3,305,154$2,609,999$4,734,565
69$7,699,333$3,414,967$2,645,294$5,040,299
70$8,430,882$3,528,518$2,680,129$5,372,338
71$9,235,356$3,645,939$2,714,437$5,733,231
72$10,120,138$3,767,366$2,748,146$6,125,785
73$11,093,366$3,892,940$2,781,183$6,553,092
74$12,164,003$4,022,808$2,813,466$7,018,552
75$13,341,928$4,157,122$2,844,914$7,525,911
76$14,638,022$4,296,039$2,875,436$8,079,289
77$16,064,278$4,439,722$2,904,941$8,683,227
78$17,633,907$4,588,341$2,933,329$9,342,723
79$19,361,466$4,742,071$2,960,496$10,063,279
80$21,262,998$4,901,094$2,986,334$10,850,957
81$23,356,175$5,065,599$3,010,728$11,712,429
82$25,660,473$5,235,782$3,033,556$12,655,046
83$28,197,352$5,411,845$3,054,690$13,686,902
84$30,990,457$5,594,001$3,073,998$14,816,915
85$34,065,843$5,782,467$3,091,336$16,054,903
86$37,452,221$5,977,470$3,106,558$17,411,683
87$41,181,227$6,179,245$3,119,507$18,899,170
88$45,287,721$6,388,037$3,130,020$20,530,488
89$49,810,117$6,604,099$3,137,924$22,320,095
90$54,790,744$6,827,695$3,143,039$24,283,917
91$60,276,244$7,059,096$3,145,175$26,439,498
92$66,318,015$7,298,587$3,144,133$28,806,168
93$72,972,696$7,546,461$3,139,705$31,405,219
94$80,302,697$7,803,023$3,131,671$34,260,111
95$88,376,791$8,068,591$3,119,801$37,396,689
96$97,270,765$8,343,492$3,103,855$40,843,428
97$107,068,130$8,628,070$3,083,581$44,631,700
98$117,860,911$8,922,678$3,058,713$48,796,069
99$129,750,520$9,227,684$3,028,976$53,374,619
100$142,848,703$9,543,472$2,994,077$58,409,310