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%17%
1 years$184,977$183,329$181,722$180,153$178,621$173,529
2 years$91,573$89,867$88,215$86,612$85,057$79,967
3 years$60,442$58,729$57,081$55,493$53,964$49,035
4 years$44,880$43,172$41,540$39,980$38,488$33,757
5 years$35,545$33,848$32,237$30,708$29,258$24,739
6 years$29,324$27,639$26,052$24,558$23,151$18,848
7 years$24,882$23,211$21,649$20,190$18,828$14,741
8 years$21,552$19,896$18,360$16,937$15,619$11,746
9 years$18,963$17,323$15,814$14,427$13,154$9,490
10 years$16,893$15,270$13,787$12,436$11,208$7,749
11 years$15,201$13,594$12,138$10,823$9,639$6,380
12 years$13,792$12,201$10,772$9,493$8,353$5,287
13 years$12,600$11,026$9,624$8,381$7,284$4,404
14 years$11,580$10,022$8,647$7,440$6,385$3,684
15 years$10,696$9,156$7,807$6,635$5,622$3,093
16 years$9,924$8,400$7,078$5,941$4,969$2,604
17 years$9,243$7,736$6,441$5,338$4,406$2,197
18 years$8,639$7,149$5,880$4,810$3,917$1,858
19 years$8,099$6,625$5,383$4,347$3,491$1,573
20 years$7,613$6,157$4,940$3,937$3,119$1,335
21 years$7,174$5,735$4,544$3,573$2,791$1,133
22 years$6,776$5,353$4,188$3,249$2,502$963
23 years$6,413$5,007$3,867$2,959$2,246$819
24 years$6,080$4,691$3,576$2,698$2,018$697
25 years$5,775$4,402$3,312$2,464$1,816$594
26 years$5,494$4,137$3,072$2,253$1,636$506
27 years$5,234$3,894$2,853$2,062$1,475$432
28 years$4,992$3,669$2,652$1,890$1,331$368
29 years$4,768$3,461$2,468$1,733$1,202$314
30 years$4,560$3,269$2,299$1,590$1,086$268
31 years$4,365$3,090$2,143$1,461$982$229
32 years$4,182$2,924$1,999$1,342$888$195
33 years$4,012$2,769$1,867$1,234$804$167
34 years$3,851$2,624$1,744$1,136$728$142
35 years$3,700$2,489$1,631$1,045$659$122
36 years$3,558$2,363$1,526$963$597$104
37 years$3,423$2,244$1,428$887$541$89
38 years$3,296$2,132$1,337$818$491$76
39 years$3,176$2,028$1,253$754$445$65
40 years$3,062$1,929$1,174$695$404$55
41 years$2,954$1,836$1,101$642$366$47
42 years$2,852$1,749$1,033$592$332$40
43 years$2,754$1,666$969$547$302$35
44 years$2,661$1,588$910$505$274$30
45 years$2,573$1,515$854$466$248$25
46 years$2,489$1,445$802$431$226$22
47 years$2,408$1,379$754$398$205$18
48 years$2,331$1,316$708$368$186$16
49 years$2,257$1,257$666$340$169$13
50 years$2,187$1,201$626$314$153$11

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 $2,875 every year, while hoping to spend $47,118 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: 81/14/5 Blend
54$2,240,000$2,240,000$2,240,000$2,240,000
55$2,471,446$2,352,726$2,318,006$2,671,096
56$2,673,400$2,417,876$2,345,526$2,867,194
57$2,894,374$2,484,639$2,372,388$3,075,777
58$3,136,259$2,553,045$2,398,522$3,303,234
59$3,401,136$2,623,123$2,423,851$3,551,422
60$3,691,297$2,694,901$2,448,295$3,822,388
61$4,009,267$2,768,409$2,471,770$4,118,385
62$4,357,825$2,843,674$2,494,188$4,441,896
63$4,740,035$2,920,726$2,515,455$4,795,652
64$5,159,267$2,999,590$2,535,472$5,182,662
65$5,619,238$3,080,296$2,554,135$5,606,243
66$6,124,038$3,162,868$2,571,336$6,070,043
67$6,678,174$3,247,332$2,586,960$6,578,084
68$7,286,610$3,333,714$2,600,886$7,134,795
69$7,954,816$3,422,038$2,612,987$7,745,054
70$8,688,816$3,512,326$2,623,131$8,414,236
71$9,495,245$3,604,601$2,631,176$9,148,260
72$10,381,416$3,698,882$2,636,976$9,953,649
73$11,355,383$3,795,189$2,640,377$10,837,587
74$12,426,018$3,893,540$2,641,216$11,807,989
75$13,603,099$3,993,950$2,639,323$12,873,574
76$14,897,394$4,096,433$2,634,520$14,043,951
77$16,320,772$4,201,002$2,626,620$15,329,702
78$17,886,305$4,307,665$2,615,426$16,742,491
79$19,608,398$4,416,431$2,600,733$18,295,165
80$21,502,922$4,527,303$2,582,325$20,001,880
81$23,587,363$4,640,284$2,559,976$21,878,234
82$25,880,989$4,755,372$2,533,449$23,941,413
83$28,405,027$4,872,562$2,502,497$26,210,354
84$31,182,868$4,991,847$2,466,859$28,705,920
85$34,240,286$5,113,212$2,426,264$31,451,101
86$37,605,678$5,236,643$2,380,428$34,471,230
87$41,310,337$5,362,118$2,329,051$37,794,219
88$45,388,740$5,489,611$2,271,823$41,450,827
89$49,878,880$5,619,090$2,208,418$45,474,942
90$54,822,620$5,750,519$2,138,494$49,903,912
91$60,266,088$5,883,856$2,061,694$54,778,887
92$66,260,114$6,019,050$1,977,646$60,145,212
93$72,860,707$6,156,045$1,885,959$66,052,855
94$80,129,586$6,294,778$1,786,226$72,556,876
95$88,134,759$6,435,177$1,678,019$79,717,948
96$96,951,166$6,577,163$1,560,894$87,602,932
97$106,661,386$6,720,645$1,434,386$96,285,501
98$117,356,417$6,865,526$1,298,007$105,846,842
99$129,136,531$7,011,697$1,151,250$116,376,421
100$142,112,225$7,159,037$993,584$127,972,821