Can I retire at age 55 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$191,583$189,877$188,212$186,587$185,000$182,386
2 years$94,843$93,077$91,365$89,705$88,095$85,467
3 years$62,601$60,827$59,119$57,475$55,891$53,330
4 years$46,483$44,714$43,024$41,408$39,862$37,388
5 years$36,814$35,056$33,388$31,805$30,303$27,922
6 years$30,371$28,626$26,983$25,435$23,977$21,694
7 years$25,770$24,040$22,423$20,911$19,500$17,314
8 years$22,321$20,607$19,016$17,542$16,177$14,089
9 years$19,640$17,942$16,379$14,942$13,624$11,632
10 years$17,497$15,815$14,279$12,880$11,608$9,711
11 years$15,744$14,079$12,571$11,209$9,983$8,180
12 years$14,284$12,637$11,157$9,832$8,651$6,939
13 years$13,050$11,420$9,968$8,680$7,544$5,920
14 years$11,994$10,380$8,956$7,705$6,613$5,075
15 years$11,078$9,483$8,086$6,872$5,823$4,368
16 years$10,278$8,700$7,331$6,153$5,146$3,772
17 years$9,573$8,013$6,671$5,528$4,563$3,267
18 years$8,947$7,404$6,090$4,982$4,057$2,836
19 years$8,388$6,862$5,575$4,502$3,616$2,467
20 years$7,885$6,376$5,116$4,077$3,230$2,150
21 years$7,431$5,939$4,706$3,700$2,891$1,877
22 years$7,018$5,544$4,337$3,365$2,591$1,640
23 years$6,642$5,185$4,005$3,064$2,326$1,435
24 years$6,298$4,858$3,704$2,795$2,090$1,256
25 years$5,981$4,559$3,430$2,552$1,881$1,101
26 years$5,690$4,285$3,182$2,334$1,694$966
27 years$5,420$4,033$2,954$2,136$1,528$848
28 years$5,171$3,800$2,746$1,957$1,378$745
29 years$4,939$3,585$2,556$1,795$1,245$654
30 years$4,723$3,386$2,381$1,647$1,125$575
31 years$4,521$3,200$2,219$1,513$1,017$506
32 years$4,332$3,028$2,071$1,390$920$445
33 years$4,155$2,868$1,933$1,278$832$392
34 years$3,989$2,718$1,807$1,176$754$345
35 years$3,832$2,578$1,689$1,083$683$303
36 years$3,685$2,447$1,580$997$618$267
37 years$3,546$2,324$1,479$919$561$235
38 years$3,414$2,209$1,385$847$508$207
39 years$3,290$2,100$1,297$781$461$183
40 years$3,172$1,998$1,216$720$418$161
41 years$3,060$1,902$1,140$665$379$142
42 years$2,954$1,811$1,070$613$344$125
43 years$2,853$1,726$1,004$566$312$110
44 years$2,756$1,645$942$523$283$97
45 years$2,665$1,569$885$483$257$86
46 years$2,577$1,497$831$446$234$75
47 years$2,494$1,428$781$412$212$66
48 years$2,414$1,363$734$381$193$59
49 years$2,338$1,302$690$352$175$52
50 years$2,265$1,244$648$325$159$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,320,000, adding $2,914 every year, while hoping to spend $39,511 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: 37/39/24 Blend
54$2,320,000$2,320,000$2,320,000$2,320,000
55$2,559,646$2,436,686$2,400,726$2,635,823
56$2,778,690$2,514,044$2,439,111$2,769,229
57$3,018,753$2,593,869$2,477,457$2,909,366
58$3,281,936$2,676,238$2,515,723$3,059,955
59$3,570,555$2,761,236$2,553,861$3,221,961
60$3,887,160$2,848,944$2,591,823$3,396,446
61$4,234,559$2,939,451$2,629,558$3,584,579
62$4,615,847$3,032,847$2,667,011$3,787,645
63$5,034,430$3,129,224$2,704,123$4,007,056
64$5,494,065$3,228,678$2,740,833$4,244,367
65$5,998,884$3,331,308$2,777,076$4,501,289
66$6,553,445$3,437,217$2,812,783$4,779,704
67$7,162,765$3,546,509$2,847,879$5,081,683
68$7,832,373$3,659,294$2,882,289$5,409,506
69$8,568,359$3,775,684$2,915,931$5,765,683
70$9,377,435$3,895,795$2,948,717$6,152,975
71$10,266,992$4,019,748$2,980,558$6,574,424
72$11,245,175$4,147,666$3,011,357$7,033,376
73$12,320,957$4,279,676$3,041,012$7,533,520
74$13,504,226$4,415,911$3,069,417$8,078,912
75$14,805,874$4,556,508$3,096,459$8,674,024
76$16,237,903$4,701,607$3,122,021$9,323,775
77$17,813,537$4,851,353$3,145,976$10,033,589
78$19,547,345$5,005,897$3,168,193$10,809,433
79$21,455,382$5,165,393$3,188,536$11,657,883
80$23,555,336$5,330,003$3,206,857$12,586,181
81$25,866,698$5,499,890$3,223,004$13,602,305
82$28,410,943$5,675,227$3,236,817$14,715,040
83$31,211,736$5,856,189$3,248,126$15,934,066
84$34,295,149$6,042,959$3,256,755$17,270,046
85$37,689,916$6,235,725$3,262,517$18,734,724
86$41,427,693$6,434,682$3,265,218$20,341,042
87$45,543,366$6,640,029$3,264,651$22,103,253
88$50,075,374$6,851,975$3,260,601$24,037,063
89$55,066,074$7,070,734$3,252,843$26,159,776
90$60,562,140$7,296,527$3,241,140$28,490,452
91$66,615,004$7,529,583$3,225,244$31,050,096
92$73,281,339$7,770,137$3,204,895$33,861,848
93$80,623,596$8,018,434$3,179,819$36,951,203
94$88,710,592$8,274,726$3,149,731$40,346,254
95$97,618,157$8,539,273$3,114,333$44,077,952
96$107,429,856$8,812,343$3,073,309$48,180,403
97$118,237,769$9,094,216$3,026,333$52,691,183
98$130,143,366$9,385,177$2,973,060$57,651,699
99$143,258,463$9,685,524$2,913,131$63,107,575
100$157,706,274$9,995,563$2,846,169$69,109,083