Can I retire at age 55 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$175,068$173,508$171,987$170,502$169,052$167,426
2 years$86,667$85,053$83,489$81,972$80,501$78,863
3 years$57,204$55,583$54,023$52,520$51,073$49,474
4 years$42,476$40,859$39,315$37,838$36,426$34,878
5 years$33,641$32,034$30,510$29,063$27,690$26,198
6 years$27,753$26,158$24,656$23,242$21,910$20,475
7 years$23,549$21,968$20,490$19,109$17,819$16,442
8 years$20,397$18,830$17,377$16,030$14,783$13,464
9 years$17,947$16,395$14,967$13,654$12,449$11,188
10 years$15,988$14,452$13,048$11,770$10,607$9,403
11 years$14,387$12,865$11,488$10,243$9,123$7,974
12 years$13,053$11,547$10,195$8,985$7,905$6,812
13 years$11,925$10,435$9,108$7,932$6,894$5,854
14 years$10,960$9,486$8,184$7,041$6,043$5,055
15 years$10,123$8,665$7,389$6,280$5,321$4,384
16 years$9,392$7,950$6,699$5,623$4,702$3,815
17 years$8,748$7,322$6,096$5,052$4,170$3,329
18 years$8,176$6,766$5,565$4,553$3,707$2,913
19 years$7,665$6,270$5,094$4,114$3,304$2,554
20 years$7,205$5,827$4,675$3,726$2,952$2,244
21 years$6,790$5,427$4,300$3,381$2,641$1,975
22 years$6,413$5,066$3,964$3,075$2,368$1,740
23 years$6,069$4,738$3,660$2,800$2,125$1,535
24 years$5,755$4,440$3,385$2,554$1,910$1,356
25 years$5,466$4,166$3,135$2,332$1,719$1,199
26 years$5,199$3,916$2,907$2,132$1,548$1,061
27 years$4,953$3,685$2,700$1,952$1,396$939
28 years$4,725$3,472$2,510$1,788$1,260$832
29 years$4,513$3,276$2,336$1,640$1,137$738
30 years$4,315$3,094$2,175$1,505$1,028$655
31 years$4,131$2,925$2,028$1,382$929$581
32 years$3,958$2,767$1,892$1,270$840$516
33 years$3,797$2,621$1,767$1,168$761$458
34 years$3,645$2,484$1,651$1,075$689$407
35 years$3,502$2,356$1,543$989$624$361
36 years$3,367$2,236$1,444$911$565$321
37 years$3,240$2,124$1,351$840$512$286
38 years$3,120$2,018$1,266$774$464$254
39 years$3,006$1,919$1,186$714$421$226
40 years$2,898$1,826$1,111$658$382$201
41 years$2,796$1,738$1,042$607$347$179
42 years$2,699$1,655$977$560$314$159
43 years$2,607$1,577$917$517$285$141
44 years$2,519$1,503$861$478$259$126
45 years$2,435$1,434$808$441$235$112
46 years$2,355$1,368$759$407$214$100
47 years$2,279$1,305$713$376$194$89
48 years$2,206$1,246$670$348$176$79
49 years$2,137$1,190$630$321$160$70
50 years$2,070$1,137$592$297$145$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,120,000, adding $6,106 every year, while hoping to spend $22,221 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: 38/48/14 Blend
54$2,120,000$2,120,000$2,120,000$2,120,000
55$2,342,538$2,230,178$2,197,318$2,421,409
56$2,557,834$2,315,814$2,247,286$2,563,921
57$2,794,346$2,404,901$2,298,182$2,715,233
58$3,054,213$2,497,585$2,350,015$2,878,275
59$3,339,794$2,594,019$2,402,792$3,054,110
60$3,653,688$2,694,360$2,456,520$3,243,909
61$3,998,755$2,798,775$2,511,205$3,448,953
62$4,378,149$2,907,436$2,566,851$3,670,651
63$4,795,345$3,020,525$2,623,465$3,910,550
64$5,254,169$3,138,230$2,681,050$4,170,348
65$5,758,839$3,260,748$2,739,610$4,451,911
66$6,314,001$3,388,284$2,799,147$4,757,288
67$6,924,773$3,521,055$2,859,663$5,088,731
68$7,596,797$3,659,283$2,921,159$5,448,717
69$8,336,287$3,803,205$2,983,634$5,839,965
70$9,150,090$3,953,064$3,047,088$6,265,466
71$10,045,751$4,109,116$3,111,517$6,728,508
72$11,031,584$4,271,629$3,176,919$7,232,706
73$12,116,749$4,440,881$3,243,289$7,782,036
74$13,311,338$4,617,166$3,310,620$8,380,872
75$14,626,474$4,800,787$3,378,906$9,034,023
76$16,074,412$4,992,062$3,448,136$9,746,779
77$17,668,654$5,191,325$3,518,301$10,524,962
78$19,424,080$5,398,924$3,589,388$11,374,975
79$21,357,087$5,615,222$3,661,382$12,303,867
80$23,485,740$5,840,598$3,734,269$13,319,391
81$25,829,949$6,075,450$3,808,030$14,430,082
82$28,411,649$6,320,193$3,882,645$15,645,332
83$31,255,015$6,575,260$3,958,091$16,975,479
84$34,386,683$6,841,104$4,034,344$18,431,903
85$37,836,007$7,118,201$4,111,376$20,027,130
86$41,635,331$7,407,044$4,189,159$21,774,950
87$45,820,298$7,708,152$4,267,659$23,690,545
88$50,430,183$8,022,067$4,346,840$25,790,630
89$55,508,268$8,349,354$4,426,665$28,093,609
90$61,102,245$8,690,605$4,507,092$30,619,746
91$67,264,669$9,046,441$4,588,075$33,391,354
92$74,053,456$9,417,507$4,669,566$36,433,004
93$81,532,424$9,804,481$4,751,513$39,771,755
94$89,771,901$10,208,070$4,833,858$43,437,405
95$98,849,385$10,629,015$4,916,542$47,462,772
96$108,850,275$11,068,089$4,999,499$51,883,998
97$119,868,681$11,526,104$5,082,660$56,740,890
98$132,008,308$12,003,905$5,165,951$62,077,292
99$145,383,438$12,502,378$5,249,293$67,941,495
100$160,120,005$13,022,451$5,332,600$74,386,689