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%15.3%
1 years$193,235$191,514$189,834$188,195$186,595$182,529
2 years$95,661$93,879$92,153$90,479$88,855$84,779
3 years$63,140$61,351$59,629$57,970$56,373$52,415
4 years$46,883$45,100$43,395$41,764$40,206$36,395
5 years$37,132$35,359$33,676$32,079$30,564$26,912
6 years$30,633$28,873$27,215$25,654$24,184$20,694
7 years$25,992$24,247$22,616$21,092$19,668$16,341
8 years$22,514$20,785$19,180$17,693$16,317$13,152
9 years$19,810$18,097$16,520$15,071$13,741$10,736
10 years$17,647$15,951$14,402$12,991$11,708$8,859
11 years$15,880$14,201$12,680$11,306$10,069$7,373
12 years$14,408$12,746$11,253$9,917$8,726$6,178
13 years$13,163$11,518$10,054$8,755$7,609$5,206
14 years$12,097$10,470$9,033$7,772$6,670$4,406
15 years$11,174$9,564$8,156$6,931$5,873$3,743
16 years$10,367$8,775$7,394$6,206$5,190$3,189
17 years$9,656$8,082$6,729$5,576$4,602$2,725
18 years$9,024$7,468$6,142$5,025$4,092$2,333
19 years$8,460$6,921$5,623$4,541$3,647$2,001
20 years$7,953$6,431$5,161$4,112$3,258$1,719
21 years$7,495$5,991$4,747$3,732$2,915$1,479
22 years$7,078$5,592$4,375$3,394$2,613$1,274
23 years$6,699$5,230$4,039$3,091$2,346$1,098
24 years$6,352$4,900$3,736$2,819$2,108$948
25 years$6,033$4,599$3,460$2,574$1,897$818
26 years$5,739$4,322$3,209$2,354$1,709$707
27 years$5,467$4,067$2,980$2,154$1,541$611
28 years$5,215$3,833$2,770$1,974$1,390$528
29 years$4,981$3,616$2,578$1,810$1,255$457
30 years$4,763$3,415$2,401$1,661$1,134$396
31 years$4,560$3,228$2,239$1,526$1,026$342
32 years$4,369$3,054$2,089$1,402$928$297
33 years$4,191$2,893$1,950$1,289$840$257
34 years$4,023$2,741$1,822$1,186$760$222
35 years$3,865$2,600$1,704$1,092$688$193
36 years$3,716$2,468$1,594$1,006$624$167
37 years$3,576$2,344$1,492$927$565$145
38 years$3,444$2,228$1,397$854$513$125
39 years$3,318$2,118$1,309$788$465$109
40 years$3,199$2,015$1,227$726$422$94
41 years$3,086$1,918$1,150$670$382$82
42 years$2,979$1,827$1,079$619$347$71
43 years$2,877$1,741$1,012$571$315$61
44 years$2,780$1,659$950$527$286$53
45 years$2,688$1,582$892$487$260$46
46 years$2,600$1,510$838$450$236$40
47 years$2,516$1,441$787$416$214$35
48 years$2,435$1,375$740$384$194$30
49 years$2,358$1,313$695$355$177$26
50 years$2,285$1,254$654$328$160$23

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 $5,146 every year, while hoping to spend $36,045 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: 63/9/28 Blend
54$2,340,000$2,340,000$2,340,000$2,340,000
55$2,583,988$2,459,968$2,423,698$2,727,161
56$2,809,203$2,542,155$2,466,540$2,907,083
57$3,056,182$2,627,161$2,509,610$3,099,134
58$3,327,107$2,715,086$2,552,876$3,308,145
59$3,624,381$2,806,034$2,596,306$3,535,785
60$3,950,651$2,900,113$2,639,865$3,783,891
61$4,308,832$2,997,433$2,683,516$4,054,489
62$4,702,138$3,098,112$2,727,218$4,349,807
63$5,134,105$3,202,269$2,770,930$4,672,301
64$5,608,632$3,310,029$2,814,604$5,024,675
65$6,130,013$3,421,520$2,858,194$5,409,910
66$6,702,978$3,536,878$2,901,646$5,831,286
67$7,332,737$3,656,241$2,944,907$6,292,419
68$8,025,033$3,779,753$2,987,918$6,797,292
69$8,786,190$3,907,565$3,030,617$7,350,293
70$9,623,177$4,039,831$3,072,939$7,956,255
71$10,543,672$4,176,714$3,114,813$8,620,504
72$11,556,134$4,318,380$3,156,166$9,348,908
73$12,669,882$4,465,003$3,196,921$10,147,930
74$13,895,186$4,616,765$3,236,994$11,024,693
75$15,243,360$4,773,851$3,276,298$11,987,045
76$16,726,870$4,936,457$3,314,741$13,043,633
77$18,359,451$5,104,784$3,352,225$14,203,984
78$20,156,239$5,279,042$3,388,649$15,478,594
79$22,133,909$5,459,448$3,423,902$16,879,031
80$24,310,836$5,646,229$3,457,871$18,418,041
81$26,707,266$5,839,620$3,490,434$20,109,666
82$29,345,509$6,039,863$3,521,466$21,969,383
83$32,250,147$6,247,212$3,550,831$24,014,241
84$35,448,267$6,461,931$3,578,389$26,263,032
85$38,969,717$6,684,292$3,603,991$28,736,460
86$42,847,384$6,914,578$3,627,481$31,457,341
87$47,117,511$7,153,086$3,648,695$34,450,814
88$51,820,030$7,400,121$3,667,460$37,744,585
89$56,998,948$7,656,002$3,683,595$41,369,181
90$62,702,753$7,921,058$3,696,908$45,358,244
91$68,984,879$8,195,635$3,707,199$49,748,844
92$75,904,205$8,480,089$3,714,258$54,581,833
93$83,525,612$8,774,792$3,717,864$59,902,225
94$91,920,597$9,080,129$3,717,785$65,759,628
95$101,167,944$9,396,502$3,713,777$72,208,707
96$111,354,472$9,724,328$3,705,586$79,309,701
97$122,575,848$10,064,040$3,692,943$87,128,994
98$134,937,496$10,416,089$3,675,569$95,739,737
99$148,555,588$10,780,945$3,653,168$105,222,544
100$163,558,141$11,159,094$3,625,432$115,666,249