Can I retire at age 55 with 2,340,000?

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 $2,340,000?

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$193,235$191,514$189,834$188,195$186,595$183,958
2 years$95,661$93,879$92,153$90,479$88,855$86,204
3 years$63,140$61,351$59,629$57,970$56,373$53,790
4 years$46,883$45,100$43,395$41,764$40,206$37,710
5 years$37,132$35,359$33,676$32,079$30,564$28,163
6 years$30,633$28,873$27,215$25,654$24,184$21,881
7 years$25,992$24,247$22,616$21,092$19,668$17,464
8 years$22,514$20,785$19,180$17,693$16,317$14,210
9 years$19,810$18,097$16,520$15,071$13,741$11,732
10 years$17,647$15,951$14,402$12,991$11,708$9,795
11 years$15,880$14,201$12,680$11,306$10,069$8,250
12 years$14,408$12,746$11,253$9,917$8,726$6,998
13 years$13,163$11,518$10,054$8,755$7,609$5,971
14 years$12,097$10,470$9,033$7,772$6,670$5,119
15 years$11,174$9,564$8,156$6,931$5,873$4,406
16 years$10,367$8,775$7,394$6,206$5,190$3,805
17 years$9,656$8,082$6,729$5,576$4,602$3,295
18 years$9,024$7,468$6,142$5,025$4,092$2,861
19 years$8,460$6,921$5,623$4,541$3,647$2,489
20 years$7,953$6,431$5,161$4,112$3,258$2,169
21 years$7,495$5,991$4,747$3,732$2,915$1,893
22 years$7,078$5,592$4,375$3,394$2,613$1,654
23 years$6,699$5,230$4,039$3,091$2,346$1,447
24 years$6,352$4,900$3,736$2,819$2,108$1,267
25 years$6,033$4,599$3,460$2,574$1,897$1,111
26 years$5,739$4,322$3,209$2,354$1,709$974
27 years$5,467$4,067$2,980$2,154$1,541$855
28 years$5,215$3,833$2,770$1,974$1,390$751
29 years$4,981$3,616$2,578$1,810$1,255$660
30 years$4,763$3,415$2,401$1,661$1,134$580
31 years$4,560$3,228$2,239$1,526$1,026$510
32 years$4,369$3,054$2,089$1,402$928$449
33 years$4,191$2,893$1,950$1,289$840$395
34 years$4,023$2,741$1,822$1,186$760$348
35 years$3,865$2,600$1,704$1,092$688$306
36 years$3,716$2,468$1,594$1,006$624$269
37 years$3,576$2,344$1,492$927$565$237
38 years$3,444$2,228$1,397$854$513$209
39 years$3,318$2,118$1,309$788$465$184
40 years$3,199$2,015$1,227$726$422$162
41 years$3,086$1,918$1,150$670$382$143
42 years$2,979$1,827$1,079$619$347$126
43 years$2,877$1,741$1,012$571$315$111
44 years$2,780$1,659$950$527$286$98
45 years$2,688$1,582$892$487$260$86
46 years$2,600$1,510$838$450$236$76
47 years$2,516$1,441$787$416$214$67
48 years$2,435$1,375$740$384$194$59
49 years$2,358$1,313$695$355$177$52
50 years$2,285$1,254$654$328$160$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,340,000, adding $3,653 every year, while hoping to spend $50,578 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: 79/14/7 Blend
54$2,340,000$2,340,000$2,340,000$2,340,000
55$2,582,448$2,458,428$2,422,158$2,784,165
56$2,792,043$2,525,076$2,449,486$2,983,569
57$3,021,322$2,593,295$2,476,034$3,195,266
58$3,272,238$2,663,109$2,501,723$3,425,977
59$3,546,945$2,734,539$2,526,468$3,677,574
60$3,847,811$2,807,609$2,550,183$3,952,115
61$4,177,446$2,882,340$2,572,772$4,251,871
62$4,538,724$2,958,754$2,594,139$4,579,338
63$4,934,811$3,036,870$2,614,180$4,937,269
64$5,369,193$3,116,708$2,632,786$5,328,693
65$5,845,709$3,198,285$2,649,843$5,756,948
66$6,368,589$3,281,618$2,665,230$6,225,710
67$6,942,491$3,366,724$2,678,821$6,739,027
68$7,572,547$3,453,615$2,690,483$7,301,359
69$8,264,409$3,542,304$2,700,077$7,917,620
70$9,024,304$3,632,802$2,707,454$8,593,221
71$9,859,091$3,725,118$2,712,463$9,334,125
72$10,776,327$3,819,258$2,714,939$10,146,900
73$11,784,338$3,915,226$2,714,714$11,038,781
74$12,892,293$4,013,025$2,711,610$12,017,740
75$14,110,297$4,112,653$2,705,439$13,092,561
76$15,449,481$4,214,107$2,696,006$14,272,920
77$16,922,111$4,317,381$2,683,104$15,569,479
78$18,541,697$4,422,464$2,666,519$16,993,982
79$20,323,128$4,529,342$2,646,025$18,559,375
80$22,282,804$4,637,997$2,621,384$20,279,915
81$24,438,800$4,748,409$2,592,350$22,171,317
82$26,811,026$4,860,549$2,558,662$24,250,892
83$29,421,423$4,974,388$2,520,050$26,537,716
84$32,294,163$5,089,888$2,476,227$29,052,811
85$35,455,884$5,207,009$2,426,896$31,819,335
86$38,935,933$5,325,701$2,371,746$34,862,812
87$42,766,649$5,445,911$2,310,450$38,211,362
88$46,983,664$5,567,578$2,242,667$41,895,974
89$51,626,241$5,690,633$2,168,041$45,950,792
90$56,737,644$5,815,001$2,086,196$50,413,445
91$62,365,545$5,940,596$1,996,745$55,325,393
92$68,562,472$6,067,327$1,899,277$60,732,324
93$75,386,308$6,195,090$1,793,367$66,684,586
94$82,900,835$6,323,773$1,678,568$73,237,655
95$91,176,335$6,453,253$1,554,415$80,452,669
96$100,290,254$6,583,395$1,420,421$88,396,993
97$110,327,932$6,714,054$1,276,077$97,144,867
98$121,383,407$6,845,068$1,120,852$106,778,097
99$133,560,305$6,976,267$954,191$117,386,831
100$146,972,813$7,107,461$775,513$129,070,411