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%12.9%
1 years$184,977$183,329$181,722$180,153$178,621$176,462
2 years$91,573$89,867$88,215$86,612$85,057$82,885
3 years$60,442$58,729$57,081$55,493$53,964$51,845
4 years$44,880$43,172$41,540$39,980$38,488$36,439
5 years$35,545$33,848$32,237$30,708$29,258$27,285
6 years$29,324$27,639$26,052$24,558$23,151$21,256
7 years$24,882$23,211$21,649$20,190$18,828$17,012
8 years$21,552$19,896$18,360$16,937$15,619$13,883
9 years$18,963$17,323$15,814$14,427$13,154$11,496
10 years$16,893$15,270$13,787$12,436$11,208$9,627
11 years$15,201$13,594$12,138$10,823$9,639$8,134
12 years$13,792$12,201$10,772$9,493$8,353$6,922
13 years$12,600$11,026$9,624$8,381$7,284$5,925
14 years$11,580$10,022$8,647$7,440$6,385$5,096
15 years$10,696$9,156$7,807$6,635$5,622$4,402
16 years$9,924$8,400$7,078$5,941$4,969$3,814
17 years$9,243$7,736$6,441$5,338$4,406$3,315
18 years$8,639$7,149$5,880$4,810$3,917$2,888
19 years$8,099$6,625$5,383$4,347$3,491$2,522
20 years$7,613$6,157$4,940$3,937$3,119$2,206
21 years$7,174$5,735$4,544$3,573$2,791$1,932
22 years$6,776$5,353$4,188$3,249$2,502$1,695
23 years$6,413$5,007$3,867$2,959$2,246$1,489
24 years$6,080$4,691$3,576$2,698$2,018$1,309
25 years$5,775$4,402$3,312$2,464$1,816$1,152
26 years$5,494$4,137$3,072$2,253$1,636$1,014
27 years$5,234$3,894$2,853$2,062$1,475$894
28 years$4,992$3,669$2,652$1,890$1,331$788
29 years$4,768$3,461$2,468$1,733$1,202$695
30 years$4,560$3,269$2,299$1,590$1,086$614
31 years$4,365$3,090$2,143$1,461$982$542
32 years$4,182$2,924$1,999$1,342$888$479
33 years$4,012$2,769$1,867$1,234$804$423
34 years$3,851$2,624$1,744$1,136$728$374
35 years$3,700$2,489$1,631$1,045$659$331
36 years$3,558$2,363$1,526$963$597$292
37 years$3,423$2,244$1,428$887$541$259
38 years$3,296$2,132$1,337$818$491$229
39 years$3,176$2,028$1,253$754$445$202
40 years$3,062$1,929$1,174$695$404$179
41 years$2,954$1,836$1,101$642$366$158
42 years$2,852$1,749$1,033$592$332$140
43 years$2,754$1,666$969$547$302$124
44 years$2,661$1,588$910$505$274$110
45 years$2,573$1,515$854$466$248$97
46 years$2,489$1,445$802$431$226$86
47 years$2,408$1,379$754$398$205$76
48 years$2,331$1,316$708$368$186$67
49 years$2,257$1,257$666$340$169$60
50 years$2,187$1,201$626$314$153$53

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 $6,393 every year, while hoping to spend $44,894 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: 33/43/24 Blend
54$2,240,000$2,240,000$2,240,000$2,240,000
55$2,475,074$2,356,354$2,321,634$2,538,411
56$2,679,765$2,424,049$2,351,642$2,654,239
57$2,903,830$2,493,556$2,381,151$2,774,488
58$3,149,197$2,564,916$2,410,096$2,903,184
59$3,417,990$2,638,173$2,438,409$3,041,101
60$3,712,549$2,713,367$2,466,020$3,189,090
61$4,035,450$2,790,543$2,492,853$3,348,090
62$4,389,530$2,869,743$2,518,827$3,519,133
63$4,777,913$2,951,012$2,543,859$3,703,353
64$5,204,042$3,034,393$2,567,860$3,902,000
65$5,671,708$3,119,932$2,590,737$4,116,451
66$6,185,086$3,207,673$2,612,391$4,348,219
67$6,748,777$3,297,662$2,632,718$4,598,973
68$7,367,849$3,389,943$2,651,610$4,870,549
69$8,047,882$3,484,563$2,668,952$5,164,969
70$8,795,027$3,581,568$2,684,623$5,484,460
71$9,616,059$3,681,004$2,698,497$5,831,476
72$10,518,439$3,782,915$2,710,439$6,208,717
73$11,510,391$3,887,349$2,720,310$6,619,161
74$12,600,973$3,994,351$2,727,962$7,066,085
75$13,800,164$4,103,966$2,733,241$7,553,102
76$15,118,961$4,216,241$2,735,984$8,084,190
77$16,569,477$4,331,219$2,736,022$8,663,732
78$18,165,060$4,448,944$2,733,175$9,296,560
79$19,920,415$4,569,462$2,727,255$9,987,993
80$21,851,746$4,692,814$2,718,067$10,743,894
81$23,976,905$4,819,043$2,705,403$11,570,726
82$26,315,563$4,948,190$2,689,048$12,475,605
83$28,889,395$5,080,295$2,668,775$13,466,376
84$31,722,281$5,215,398$2,644,347$14,551,683
85$34,840,536$5,353,534$2,615,515$15,741,051
86$38,273,154$5,494,741$2,582,018$17,044,974
87$42,052,084$5,639,051$2,543,584$18,475,020
88$46,212,529$5,786,498$2,499,927$20,043,935
89$50,793,280$5,937,110$2,450,748$21,765,764
90$55,837,081$6,090,914$2,395,734$23,655,986
91$61,391,031$6,247,936$2,334,559$25,731,661
92$67,507,028$6,408,197$2,266,878$28,011,585
93$74,242,262$6,571,716$2,192,335$30,516,478
94$81,659,749$6,738,506$2,110,555$33,269,168
95$89,828,930$6,908,580$2,021,146$36,294,817
96$98,826,325$7,081,944$1,923,697$39,621,154
97$108,736,251$7,258,600$1,817,782$43,278,738
98$119,651,623$7,438,546$1,702,953$47,301,245
99$131,674,828$7,621,774$1,578,741$51,725,790
100$144,918,690$7,808,271$1,444,658$56,593,276