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%18.4%
1 years$184,977$183,329$181,722$180,153$178,621$172,558
2 years$91,573$89,867$88,215$86,612$85,057$79,010
3 years$60,442$58,729$57,081$55,493$53,964$48,122
4 years$44,880$43,172$41,540$39,980$38,488$32,895
5 years$35,545$33,848$32,237$30,708$29,258$23,930
6 years$29,324$27,639$26,052$24,558$23,151$18,092
7 years$24,882$23,211$21,649$20,190$18,828$14,038
8 years$21,552$19,896$18,360$16,937$15,619$11,094
9 years$18,963$17,323$15,814$14,427$13,154$8,887
10 years$16,893$15,270$13,787$12,436$11,208$7,193
11 years$15,201$13,594$12,138$10,823$9,639$5,869
12 years$13,792$12,201$10,772$9,493$8,353$4,818
13 years$12,600$11,026$9,624$8,381$7,284$3,976
14 years$11,580$10,022$8,647$7,440$6,385$3,294
15 years$10,696$9,156$7,807$6,635$5,622$2,738
16 years$9,924$8,400$7,078$5,941$4,969$2,282
17 years$9,243$7,736$6,441$5,338$4,406$1,906
18 years$8,639$7,149$5,880$4,810$3,917$1,595
19 years$8,099$6,625$5,383$4,347$3,491$1,337
20 years$7,613$6,157$4,940$3,937$3,119$1,121
21 years$7,174$5,735$4,544$3,573$2,791$942
22 years$6,776$5,353$4,188$3,249$2,502$792
23 years$6,413$5,007$3,867$2,959$2,246$666
24 years$6,080$4,691$3,576$2,698$2,018$561
25 years$5,775$4,402$3,312$2,464$1,816$472
26 years$5,494$4,137$3,072$2,253$1,636$398
27 years$5,234$3,894$2,853$2,062$1,475$336
28 years$4,992$3,669$2,652$1,890$1,331$283
29 years$4,768$3,461$2,468$1,733$1,202$239
30 years$4,560$3,269$2,299$1,590$1,086$201
31 years$4,365$3,090$2,143$1,461$982$170
32 years$4,182$2,924$1,999$1,342$888$143
33 years$4,012$2,769$1,867$1,234$804$121
34 years$3,851$2,624$1,744$1,136$728$102
35 years$3,700$2,489$1,631$1,045$659$86
36 years$3,558$2,363$1,526$963$597$73
37 years$3,423$2,244$1,428$887$541$61
38 years$3,296$2,132$1,337$818$491$52
39 years$3,176$2,028$1,253$754$445$44
40 years$3,062$1,929$1,174$695$404$37
41 years$2,954$1,836$1,101$642$366$31
42 years$2,852$1,749$1,033$592$332$26
43 years$2,754$1,666$969$547$302$22
44 years$2,661$1,588$910$505$274$19
45 years$2,573$1,515$854$466$248$16
46 years$2,489$1,445$802$431$226$13
47 years$2,408$1,379$754$398$205$11
48 years$2,331$1,316$708$368$186$10
49 years$2,257$1,257$666$340$169$8
50 years$2,187$1,201$626$314$153$7

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 $5,056 every year, while hoping to spend $28,761 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: 55/22/23 Blend
54$2,240,000$2,240,000$2,240,000$2,240,000
55$2,473,695$2,354,975$2,320,255$2,593,935
56$2,695,411$2,439,768$2,367,382$2,761,759
57$2,938,777$2,527,751$2,415,124$2,940,989
58$3,205,973$2,619,051$2,463,471$3,135,572
59$3,499,397$2,713,799$2,512,412$3,346,993
60$3,821,692$2,812,132$2,561,935$3,576,880
61$4,175,770$2,914,192$2,612,025$3,827,028
62$4,564,838$3,020,127$2,662,667$4,099,412
63$4,992,430$3,130,092$2,713,845$4,396,205
64$5,462,439$3,244,247$2,765,540$4,719,800
65$5,979,153$3,362,761$2,817,732$5,072,829
66$6,547,298$3,485,808$2,870,397$5,458,192
67$7,172,080$3,613,569$2,923,512$5,879,081
68$7,859,233$3,746,235$2,977,051$6,339,008
69$8,615,077$3,884,003$3,030,984$6,841,844
70$9,446,575$4,027,079$3,085,282$7,391,848
71$10,361,397$4,175,677$3,139,911$7,993,712
72$11,367,996$4,330,022$3,194,834$8,652,602
73$12,475,685$4,490,347$3,250,015$9,374,207
74$13,694,726$4,656,894$3,305,411$10,164,793
75$15,036,423$4,829,918$3,360,978$11,031,260
76$16,513,237$5,009,682$3,416,669$11,981,210
77$18,138,892$5,196,462$3,472,433$13,023,014
78$19,928,516$5,390,545$3,528,216$14,165,894
79$21,898,774$5,592,232$3,583,961$15,420,006
80$24,068,032$5,801,834$3,639,606$16,796,538
81$26,456,524$6,019,677$3,695,086$18,307,817
82$29,086,550$6,246,101$3,750,332$19,967,418
83$31,982,680$6,481,461$3,805,269$21,790,298
84$35,171,987$6,726,127$3,859,820$23,792,935
85$38,684,307$6,980,484$3,913,901$25,993,479
86$42,552,514$7,244,936$3,967,424$28,411,929
87$46,812,834$7,519,901$4,020,296$31,070,315
88$51,505,185$7,805,818$4,072,418$33,992,911
89$56,673,555$8,103,145$4,123,686$37,206,458
90$62,366,417$8,412,358$4,173,989$40,740,419
91$68,637,184$8,733,956$4,223,210$44,627,256
92$75,544,715$9,068,458$4,271,225$48,902,733
93$83,153,870$9,416,407$4,317,905$53,606,257
94$91,536,122$9,778,368$4,363,112$58,781,246
95$100,770,231$10,154,933$4,406,701$64,475,538
96$110,942,988$10,546,718$4,448,519$70,741,843
97$122,150,033$10,954,368$4,488,406$77,638,241
98$134,496,760$11,378,555$4,526,190$85,228,723
99$148,099,306$11,819,981$4,561,694$93,583,803
100$163,085,654$12,279,378$4,594,730$102,781,174