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

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 $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%17.7%
1 years$170,113$168,598$167,119$165,676$164,267$159,136
2 years$84,214$82,646$81,126$79,652$78,223$73,099
3 years$55,585$54,010$52,494$51,034$49,628$44,672
4 years$41,273$39,703$38,202$36,767$35,395$30,645
5 years$32,689$31,128$29,646$28,241$26,907$22,376
6 years$26,967$25,418$23,959$22,584$21,290$16,982
7 years$22,882$21,346$19,910$18,568$17,315$13,229
8 years$19,820$18,298$16,885$15,576$14,364$10,498
9 years$17,439$15,931$14,543$13,267$12,097$8,446
10 years$15,536$14,043$12,679$11,437$10,307$6,866
11 years$13,980$12,501$11,162$9,953$8,864$5,627
12 years$12,684$11,221$9,906$8,730$7,682$4,642
13 years$11,588$10,140$8,851$7,708$6,699$3,848
14 years$10,649$9,217$7,952$6,842$5,872$3,204
15 years$9,837$8,420$7,180$6,102$5,170$2,676
16 years$9,127$7,725$6,510$5,463$4,569$2,242
17 years$8,501$7,115$5,924$4,909$4,052$1,882
18 years$7,945$6,574$5,407$4,424$3,602$1,583
19 years$7,448$6,093$4,950$3,997$3,211$1,334
20 years$7,001$5,662$4,543$3,620$2,868$1,125
21 years$6,598$5,274$4,179$3,286$2,567$950
22 years$6,231$4,923$3,851$2,987$2,301$803
23 years$5,897$4,604$3,556$2,721$2,065$680
24 years$5,592$4,314$3,289$2,481$1,856$575
25 years$5,311$4,048$3,046$2,266$1,670$487
26 years$5,052$3,805$2,825$2,072$1,505$413
27 years$4,813$3,581$2,623$1,897$1,356$350
28 years$4,591$3,374$2,439$1,738$1,224$297
29 years$4,385$3,183$2,269$1,594$1,105$252
30 years$4,193$3,006$2,114$1,462$999$214
31 years$4,014$2,842$1,971$1,343$903$181
32 years$3,846$2,689$1,839$1,234$817$154
33 years$3,689$2,546$1,717$1,135$739$131
34 years$3,542$2,413$1,604$1,044$669$111
35 years$3,403$2,289$1,500$961$606$94
36 years$3,272$2,173$1,403$885$549$80
37 years$3,148$2,064$1,313$816$498$68
38 years$3,032$1,961$1,230$752$451$58
39 years$2,921$1,865$1,152$693$409$49
40 years$2,816$1,774$1,080$640$371$42
41 years$2,717$1,689$1,013$590$337$35
42 years$2,623$1,608$950$545$306$30
43 years$2,533$1,533$891$503$277$26
44 years$2,448$1,461$837$464$252$22
45 years$2,366$1,393$786$429$228$18
46 years$2,289$1,329$738$396$207$16
47 years$2,215$1,268$693$366$188$13
48 years$2,144$1,211$651$338$171$11
49 years$2,076$1,156$612$312$155$10
50 years$2,011$1,104$576$289$141$8

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 $6,566 every year, while hoping to spend $28,544 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: 58/29/13 Blend
54$2,060,000$2,060,000$2,060,000$2,060,000
55$2,276,893$2,167,713$2,135,783$2,401,165
56$2,478,765$2,243,560$2,176,961$2,561,687
57$2,700,272$2,322,167$2,218,562$2,732,842
58$2,943,386$2,403,639$2,260,570$2,918,736
59$3,210,279$2,488,086$2,302,967$3,120,788
60$3,503,346$2,575,620$2,345,734$3,340,561
61$3,825,222$2,666,361$2,388,851$3,579,773
62$4,178,813$2,760,430$2,432,296$3,840,315
63$4,567,317$2,857,957$2,476,043$4,124,267
64$4,994,260$2,959,074$2,520,068$4,433,920
65$5,463,526$3,063,919$2,564,341$4,771,794
66$5,979,391$3,172,637$2,608,832$5,140,664
67$6,546,571$3,285,378$2,653,510$5,543,584
68$7,170,257$3,402,297$2,698,338$5,983,915
69$7,856,171$3,523,558$2,743,281$6,465,358
70$8,610,617$3,649,329$2,788,297$6,991,990
71$9,440,539$3,779,785$2,833,344$7,568,296
72$10,353,590$3,915,111$2,878,377$8,199,218
73$11,358,201$4,055,496$2,923,347$8,890,196
74$12,463,662$4,201,139$2,968,203$9,647,221
75$13,680,207$4,352,247$3,012,890$10,476,890
76$15,019,116$4,509,034$3,057,349$11,386,471
77$16,492,814$4,671,725$3,101,519$12,383,965
78$18,114,994$4,840,553$3,145,334$13,478,186
79$19,900,745$5,015,761$3,188,723$14,678,843
80$21,866,689$5,197,602$3,231,614$15,996,628
81$24,031,146$5,386,339$3,273,928$17,443,320
82$26,414,300$5,582,247$3,315,581$19,031,892
83$29,038,394$5,785,612$3,356,488$20,776,635
84$31,927,934$5,996,731$3,396,555$22,693,294
85$35,109,928$6,215,916$3,435,684$24,799,210
86$38,614,134$6,443,489$3,473,773$27,113,488
87$42,473,343$6,679,787$3,510,711$29,657,175
88$46,723,689$6,925,162$3,546,385$32,453,460
89$51,404,990$7,179,979$3,580,673$35,527,885
90$56,561,121$7,444,620$3,613,448$38,908,594
91$62,240,431$7,719,482$3,644,574$42,626,593
92$68,496,198$8,004,980$3,673,911$46,716,042
93$75,387,131$8,301,545$3,701,308$51,214,578
94$82,977,926$8,609,628$3,726,609$56,163,666
95$91,339,873$8,929,699$3,749,649$61,608,994
96$100,551,532$9,262,246$3,770,255$67,600,900
97$110,699,473$9,607,780$3,788,242$74,194,846
98$121,879,091$9,966,834$3,803,421$81,451,943
99$134,195,512$10,339,962$3,815,588$89,439,524
100$147,764,576$10,727,742$3,824,533$98,231,778