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%17.2%
1 years$193,235$191,514$189,834$188,195$186,595$181,130
2 years$95,661$93,879$92,153$90,479$88,855$83,393
3 years$63,140$61,351$59,629$57,970$56,373$51,086
4 years$46,883$45,100$43,395$41,764$40,206$35,134
5 years$37,132$35,359$33,676$32,079$30,564$25,721
6 years$30,633$28,873$27,215$25,654$24,184$19,574
7 years$25,992$24,247$22,616$21,092$19,668$15,292
8 years$22,514$20,785$19,180$17,693$16,317$12,171
9 years$19,810$18,097$16,520$15,071$13,741$9,822
10 years$17,647$15,951$14,402$12,991$11,708$8,010
11 years$15,880$14,201$12,680$11,306$10,069$6,586
12 years$14,408$12,746$11,253$9,917$8,726$5,450
13 years$13,163$11,518$10,054$8,755$7,609$4,534
14 years$12,097$10,470$9,033$7,772$6,670$3,788
15 years$11,174$9,564$8,156$6,931$5,873$3,175
16 years$10,367$8,775$7,394$6,206$5,190$2,669
17 years$9,656$8,082$6,729$5,576$4,602$2,249
18 years$9,024$7,468$6,142$5,025$4,092$1,899
19 years$8,460$6,921$5,623$4,541$3,647$1,606
20 years$7,953$6,431$5,161$4,112$3,258$1,360
21 years$7,495$5,991$4,747$3,732$2,915$1,153
22 years$7,078$5,592$4,375$3,394$2,613$978
23 years$6,699$5,230$4,039$3,091$2,346$831
24 years$6,352$4,900$3,736$2,819$2,108$706
25 years$6,033$4,599$3,460$2,574$1,897$601
26 years$5,739$4,322$3,209$2,354$1,709$511
27 years$5,467$4,067$2,980$2,154$1,541$435
28 years$5,215$3,833$2,770$1,974$1,390$370
29 years$4,981$3,616$2,578$1,810$1,255$315
30 years$4,763$3,415$2,401$1,661$1,134$269
31 years$4,560$3,228$2,239$1,526$1,026$229
32 years$4,369$3,054$2,089$1,402$928$195
33 years$4,191$2,893$1,950$1,289$840$166
34 years$4,023$2,741$1,822$1,186$760$142
35 years$3,865$2,600$1,704$1,092$688$121
36 years$3,716$2,468$1,594$1,006$624$103
37 years$3,576$2,344$1,492$927$565$88
38 years$3,444$2,228$1,397$854$513$75
39 years$3,318$2,118$1,309$788$465$64
40 years$3,199$2,015$1,227$726$422$55
41 years$3,086$1,918$1,150$670$382$47
42 years$2,979$1,827$1,079$619$347$40
43 years$2,877$1,741$1,012$571$315$34
44 years$2,780$1,659$950$527$286$29
45 years$2,688$1,582$892$487$260$25
46 years$2,600$1,510$838$450$236$21
47 years$2,516$1,441$787$416$214$18
48 years$2,435$1,375$740$384$194$15
49 years$2,358$1,313$695$355$177$13
50 years$2,285$1,254$654$328$160$11

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 $4,032 every year, while hoping to spend $40,537 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: 55/31/14 Blend
54$2,340,000$2,340,000$2,340,000$2,340,000
55$2,582,839$2,458,819$2,422,549$2,715,245
56$2,803,158$2,536,170$2,460,573$2,883,028
57$3,044,590$2,615,953$2,498,513$3,060,898
58$3,309,247$2,698,243$2,536,322$3,253,644
59$3,599,453$2,783,121$2,573,952$3,462,694
60$3,917,770$2,870,666$2,611,352$3,689,619
61$4,267,017$2,960,962$2,648,466$3,936,148
62$4,650,300$3,054,097$2,685,237$4,204,183
63$5,071,042$3,150,159$2,721,604$4,495,819
64$5,533,011$3,249,240$2,757,501$4,813,361
65$6,040,360$3,351,435$2,792,859$5,159,346
66$6,597,662$3,456,841$2,827,605$5,536,568
67$7,209,957$3,565,559$2,861,663$5,948,103
68$7,882,795$3,677,693$2,894,951$6,397,336
69$8,622,291$3,793,351$2,927,383$6,887,998
70$9,435,182$3,912,643$2,958,868$7,424,194
71$10,328,891$4,035,683$2,989,310$8,010,446
72$11,311,595$4,162,588$3,018,609$8,651,735
73$12,392,303$4,293,480$3,046,658$9,353,545
74$13,580,941$4,428,484$3,073,344$10,121,917
75$14,888,446$4,567,729$3,098,550$10,963,504
76$16,326,868$4,711,348$3,122,152$11,885,635
77$17,909,482$4,859,478$3,144,017$12,896,384
78$19,650,917$5,012,260$3,164,010$14,004,641
79$21,567,290$5,169,840$3,181,984$15,220,204
80$23,676,361$5,332,370$3,197,787$16,553,862
81$25,997,697$5,500,003$3,211,260$18,017,503
82$28,552,859$5,672,900$3,222,235$19,624,223
83$31,365,605$5,851,226$3,230,534$21,388,450
84$34,462,111$6,035,152$3,235,972$23,326,079
85$37,871,224$6,224,852$3,238,354$25,454,622
86$41,624,727$6,420,507$3,237,477$27,793,372
87$45,757,642$6,622,305$3,233,126$30,363,586
88$50,308,561$6,830,438$3,225,075$33,188,686
89$55,320,009$7,045,103$3,213,089$36,294,476
90$60,838,843$7,266,507$3,196,921$39,709,387
91$66,916,698$7,494,859$3,176,311$43,464,748
92$73,610,472$7,730,378$3,150,988$47,595,074
93$80,982,862$7,973,287$3,120,668$52,138,399
94$89,102,955$8,223,819$3,085,051$57,136,630
95$98,046,882$8,482,213$3,043,826$62,635,942
96$107,898,536$8,748,713$2,996,666$68,687,215
97$118,750,361$9,023,574$2,943,229$75,346,513
98$130,704,227$9,307,058$2,883,156$82,675,614
99$143,872,389$9,599,435$2,816,073$90,742,588
100$158,378,547$9,900,983$2,741,586$99,622,446