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

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$193,235$191,514$189,834$188,195$186,595$185,497
2 years$95,661$93,879$92,153$90,479$88,855$87,747
3 years$63,140$61,351$59,629$57,970$56,373$55,290
4 years$46,883$45,100$43,395$41,764$40,206$39,155
5 years$37,132$35,359$33,676$32,079$30,564$29,549
6 years$30,633$28,873$27,215$25,654$24,184$23,207
7 years$25,992$24,247$22,616$21,092$19,668$18,729
8 years$22,514$20,785$19,180$17,693$16,317$15,415
9 years$19,810$18,097$16,520$15,071$13,741$12,877
10 years$17,647$15,951$14,402$12,991$11,708$10,881
11 years$15,880$14,201$12,680$11,306$10,069$9,279
12 years$14,408$12,746$11,253$9,917$8,726$7,972
13 years$13,163$11,518$10,054$8,755$7,609$6,890
14 years$12,097$10,470$9,033$7,772$6,670$5,985
15 years$11,174$9,564$8,156$6,931$5,873$5,222
16 years$10,367$8,775$7,394$6,206$5,190$4,572
17 years$9,656$8,082$6,729$5,576$4,602$4,015
18 years$9,024$7,468$6,142$5,025$4,092$3,535
19 years$8,460$6,921$5,623$4,541$3,647$3,120
20 years$7,953$6,431$5,161$4,112$3,258$2,759
21 years$7,495$5,991$4,747$3,732$2,915$2,444
22 years$7,078$5,592$4,375$3,394$2,613$2,169
23 years$6,699$5,230$4,039$3,091$2,346$1,926
24 years$6,352$4,900$3,736$2,819$2,108$1,713
25 years$6,033$4,599$3,460$2,574$1,897$1,525
26 years$5,739$4,322$3,209$2,354$1,709$1,359
27 years$5,467$4,067$2,980$2,154$1,541$1,212
28 years$5,215$3,833$2,770$1,974$1,390$1,082
29 years$4,981$3,616$2,578$1,810$1,255$966
30 years$4,763$3,415$2,401$1,661$1,134$863
31 years$4,560$3,228$2,239$1,526$1,026$772
32 years$4,369$3,054$2,089$1,402$928$690
33 years$4,191$2,893$1,950$1,289$840$617
34 years$4,023$2,741$1,822$1,186$760$553
35 years$3,865$2,600$1,704$1,092$688$495
36 years$3,716$2,468$1,594$1,006$624$443
37 years$3,576$2,344$1,492$927$565$397
38 years$3,444$2,228$1,397$854$513$356
39 years$3,318$2,118$1,309$788$465$319
40 years$3,199$2,015$1,227$726$422$286
41 years$3,086$1,918$1,150$670$382$256
42 years$2,979$1,827$1,079$619$347$229
43 years$2,877$1,741$1,012$571$315$206
44 years$2,780$1,659$950$527$286$185
45 years$2,688$1,582$892$487$260$165
46 years$2,600$1,510$838$450$236$148
47 years$2,516$1,441$787$416$214$133
48 years$2,435$1,375$740$384$194$119
49 years$2,358$1,313$695$355$177$107
50 years$2,285$1,254$654$328$160$96

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 $3,322 every year, while hoping to spend $27,578 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: 42/33/25 Blend
54$2,340,000$2,340,000$2,340,000$2,340,000
55$2,582,107$2,458,087$2,421,817$2,671,524
56$2,816,139$2,549,190$2,473,605$2,826,970
57$3,073,118$2,643,833$2,526,203$2,992,325
58$3,355,355$2,742,161$2,579,611$3,170,857
59$3,665,398$2,844,323$2,633,824$3,363,796
60$4,006,050$2,950,476$2,688,838$3,572,493
61$4,380,402$3,060,785$2,744,650$3,798,435
62$4,791,859$3,175,419$2,801,252$4,043,254
63$5,244,171$3,294,557$2,858,636$4,308,746
64$5,741,471$3,418,385$2,916,795$4,596,886
65$6,288,311$3,547,095$2,975,717$4,909,844
66$6,889,706$3,680,890$3,035,391$5,250,011
67$7,551,183$3,819,981$3,095,804$5,620,012
68$8,278,831$3,964,588$3,156,941$6,022,739
69$9,079,358$4,114,939$3,218,784$6,461,371
70$9,960,156$4,271,274$3,281,316$6,939,408
71$10,929,368$4,433,842$3,344,516$7,460,700
72$11,995,967$4,602,904$3,408,362$8,029,484
73$13,169,842$4,778,733$3,472,828$8,650,426
74$14,461,886$4,961,611$3,537,888$9,328,657
75$15,884,103$5,151,835$3,603,512$10,069,831
76$17,449,720$5,349,713$3,669,668$10,880,166
77$19,173,312$5,555,569$3,736,322$11,766,511
78$21,070,936$5,769,739$3,803,436$12,736,407
79$23,160,290$5,992,574$3,870,969$13,798,155
80$25,460,872$6,224,442$3,938,879$14,960,895
81$27,994,167$6,465,727$4,007,118$16,234,693
82$30,783,852$6,716,827$4,075,636$17,630,633
83$33,856,014$6,978,160$4,144,379$19,160,919
84$37,239,401$7,250,164$4,213,289$20,838,994
85$40,965,691$7,533,293$4,282,305$22,679,662
86$45,069,791$7,828,024$4,351,362$24,699,226
87$49,590,165$8,134,852$4,420,388$26,915,643
88$54,569,200$8,454,298$4,489,309$29,348,692
89$60,053,603$8,786,903$4,558,045$32,020,159
90$66,094,843$9,133,234$4,626,512$34,954,039
91$72,749,636$9,493,881$4,694,619$38,176,765
92$80,080,481$9,869,464$4,762,271$41,717,453
93$88,156,249$10,260,627$4,829,367$45,608,176
94$97,052,834$10,668,045$4,895,798$49,884,268
95$106,853,867$11,092,423$4,961,451$54,584,651
96$117,651,507$11,534,498$5,026,205$59,752,203
97$129,547,311$11,995,038$5,089,933$65,434,163
98$142,653,190$12,474,848$5,152,499$71,682,572
99$157,092,469$12,974,769$5,213,761$78,554,763
100$173,001,046$13,495,678$5,273,568$86,113,901