Can I retire at age 55 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$184,977$183,329$181,722$180,153$178,621$175,517
2 years$91,573$89,867$88,215$86,612$85,057$81,941
3 years$60,442$58,729$57,081$55,493$53,964$50,931
4 years$44,880$43,172$41,540$39,980$38,488$35,562
5 years$35,545$33,848$32,237$30,708$29,258$26,448
6 years$29,324$27,639$26,052$24,558$23,151$20,460
7 years$24,882$23,211$21,649$20,190$18,828$16,256
8 years$21,552$19,896$18,360$16,937$15,619$13,167
9 years$18,963$17,323$15,814$14,427$13,154$10,819
10 years$16,893$15,270$13,787$12,436$11,208$8,989
11 years$15,201$13,594$12,138$10,823$9,639$7,533
12 years$13,792$12,201$10,772$9,493$8,353$6,358
13 years$12,600$11,026$9,624$8,381$7,284$5,396
14 years$11,580$10,022$8,647$7,440$6,385$4,601
15 years$10,696$9,156$7,807$6,635$5,622$3,939
16 years$9,924$8,400$7,078$5,941$4,969$3,382
17 years$9,243$7,736$6,441$5,338$4,406$2,913
18 years$8,639$7,149$5,880$4,810$3,917$2,514
19 years$8,099$6,625$5,383$4,347$3,491$2,174
20 years$7,613$6,157$4,940$3,937$3,119$1,883
21 years$7,174$5,735$4,544$3,573$2,791$1,634
22 years$6,776$5,353$4,188$3,249$2,502$1,419
23 years$6,413$5,007$3,867$2,959$2,246$1,234
24 years$6,080$4,691$3,576$2,698$2,018$1,074
25 years$5,775$4,402$3,312$2,464$1,816$935
26 years$5,494$4,137$3,072$2,253$1,636$815
27 years$5,234$3,894$2,853$2,062$1,475$711
28 years$4,992$3,669$2,652$1,890$1,331$620
29 years$4,768$3,461$2,468$1,733$1,202$542
30 years$4,560$3,269$2,299$1,590$1,086$473
31 years$4,365$3,090$2,143$1,461$982$413
32 years$4,182$2,924$1,999$1,342$888$361
33 years$4,012$2,769$1,867$1,234$804$316
34 years$3,851$2,624$1,744$1,136$728$276
35 years$3,700$2,489$1,631$1,045$659$241
36 years$3,558$2,363$1,526$963$597$211
37 years$3,423$2,244$1,428$887$541$185
38 years$3,296$2,132$1,337$818$491$161
39 years$3,176$2,028$1,253$754$445$141
40 years$3,062$1,929$1,174$695$404$124
41 years$2,954$1,836$1,101$642$366$108
42 years$2,852$1,749$1,033$592$332$95
43 years$2,754$1,666$969$547$302$83
44 years$2,661$1,588$910$505$274$73
45 years$2,573$1,515$854$466$248$63
46 years$2,489$1,445$802$431$226$56
47 years$2,408$1,379$754$398$205$49
48 years$2,331$1,316$708$368$186$43
49 years$2,257$1,257$666$340$169$37
50 years$2,187$1,201$626$314$153$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,240,000, adding $4,578 every year, while hoping to spend $33,119 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: 61/30/9 Blend
54$2,240,000$2,240,000$2,240,000$2,240,000
55$2,473,202$2,354,482$2,319,762$2,618,887
56$2,690,230$2,434,613$2,362,236$2,797,140
57$2,928,286$2,517,561$2,405,022$2,987,337
58$3,189,477$2,603,428$2,448,097$3,194,036
59$3,476,130$2,692,322$2,491,434$3,418,830
60$3,790,802$2,784,353$2,535,005$3,663,471
61$4,136,315$2,879,637$2,578,778$3,929,890
62$4,515,774$2,978,294$2,622,722$4,220,208
63$4,932,600$3,080,448$2,666,800$4,536,762
64$5,390,564$3,186,228$2,710,977$4,882,122
65$5,893,817$3,295,769$2,755,210$5,259,120
66$6,446,935$3,409,210$2,799,458$5,670,869
67$7,054,957$3,526,696$2,843,675$6,120,801
68$7,723,436$3,648,378$2,887,811$6,612,689
69$8,458,489$3,774,411$2,931,816$7,150,691
70$9,266,857$3,904,959$2,975,633$7,739,384
71$10,155,964$4,040,190$3,019,205$8,383,807
72$11,133,993$4,180,280$3,062,469$9,089,509
73$12,209,958$4,325,412$3,105,360$9,862,602
74$13,393,791$4,475,774$3,147,806$10,709,816
75$14,696,434$4,631,564$3,189,734$11,638,561
76$16,129,947$4,792,986$3,231,067$12,657,001
77$17,707,613$4,960,255$3,271,719$13,774,126
78$19,444,073$5,133,590$3,311,605$14,999,837
79$21,355,455$5,313,223$3,350,630$16,345,043
80$23,459,533$5,499,392$3,388,698$17,821,755
81$25,775,891$5,692,348$3,425,705$19,443,209
82$28,326,106$5,892,347$3,461,541$21,223,981
83$31,133,958$6,099,661$3,496,091$23,180,129
84$34,225,646$6,314,569$3,529,234$25,329,343
85$37,630,041$6,537,362$3,560,842$27,691,109
86$41,378,955$6,768,343$3,590,781$30,286,897
87$45,507,444$7,007,827$3,618,908$33,140,357
88$50,054,136$7,256,144$3,645,074$36,277,546
89$55,061,596$7,513,633$3,669,122$39,727,169
90$60,576,728$7,780,650$3,690,887$43,520,852
91$66,651,218$8,057,565$3,710,195$47,693,441
92$73,342,018$8,344,761$3,726,862$52,283,325
93$80,711,890$8,642,641$3,740,698$57,332,801
94$88,829,992$8,951,619$3,751,501$62,888,471
95$97,772,533$9,272,131$3,759,058$69,001,683
96$107,623,493$9,604,627$3,763,148$75,729,009
97$118,475,413$9,949,577$3,763,537$83,132,785
98$130,430,270$10,307,471$3,759,980$91,281,694
99$143,600,438$10,678,818$3,752,221$100,251,412
100$158,109,752$11,064,149$3,739,989$110,125,326