Can I retire at age 55 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$195,712$193,969$192,268$190,608$188,987$181,704
2 years$96,887$95,083$93,334$91,639$89,994$82,743
3 years$63,950$62,138$60,393$58,714$57,096$50,106
4 years$47,484$45,678$43,951$42,300$40,721$34,045
5 years$37,608$35,812$34,108$32,490$30,956$24,610
6 years$31,025$29,243$27,564$25,983$24,494$18,484
7 years$26,326$24,558$22,906$21,362$19,920$14,243
8 years$22,802$21,051$19,426$17,920$16,526$11,177
9 years$20,064$18,329$16,732$15,264$13,917$8,888
10 years$17,874$16,156$14,587$13,158$11,858$7,139
11 years$16,083$14,383$12,842$11,451$10,198$5,779
12 years$14,592$12,909$11,397$10,044$8,838$4,707
13 years$13,332$11,666$10,183$8,867$7,707$3,852
14 years$12,252$10,604$9,149$7,872$6,756$3,165
15 years$11,317$9,687$8,260$7,020$5,948$2,608
16 years$10,500$8,888$7,489$6,286$5,257$2,155
17 years$9,780$8,185$6,815$5,648$4,661$1,784
18 years$9,140$7,564$6,221$5,090$4,145$1,480
19 years$8,569$7,010$5,695$4,599$3,694$1,229
20 years$8,055$6,514$5,227$4,165$3,300$1,022
21 years$7,591$6,067$4,808$3,780$2,953$850
22 years$7,169$5,664$4,431$3,437$2,647$708
23 years$6,785$5,297$4,091$3,130$2,376$590
24 years$6,433$4,963$3,784$2,855$2,136$492
25 years$6,110$4,658$3,504$2,607$1,922$411
26 years$5,813$4,377$3,250$2,384$1,731$343
27 years$5,537$4,120$3,018$2,182$1,561$286
28 years$5,282$3,882$2,806$1,999$1,408$239
29 years$5,045$3,662$2,611$1,833$1,272$199
30 years$4,824$3,458$2,432$1,683$1,149$167
31 years$4,618$3,269$2,267$1,545$1,039$139
32 years$4,425$3,094$2,115$1,420$940$116
33 years$4,244$2,930$1,975$1,306$850$97
34 years$4,074$2,777$1,845$1,202$770$81
35 years$3,915$2,634$1,725$1,106$697$68
36 years$3,764$2,500$1,614$1,019$632$57
37 years$3,622$2,374$1,511$939$573$47
38 years$3,488$2,256$1,415$865$519$40
39 years$3,361$2,145$1,325$798$471$33
40 years$3,240$2,041$1,242$736$427$28
41 years$3,126$1,943$1,165$679$387$23
42 years$3,017$1,851$1,093$626$352$19
43 years$2,914$1,763$1,025$578$319$16
44 years$2,816$1,681$963$534$290$14
45 years$2,722$1,603$904$493$263$11
46 years$2,633$1,529$849$456$239$9
47 years$2,548$1,459$797$421$217$8
48 years$2,466$1,393$749$389$197$7
49 years$2,388$1,330$704$359$179$6
50 years$2,314$1,271$662$332$162$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,370,000, adding $3,457 every year, while hoping to spend $59,989 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: 30/47/23 Blend
54$2,370,000$2,370,000$2,370,000$2,370,000
55$2,615,306$2,489,696$2,452,961$2,674,977
56$2,818,239$2,547,863$2,471,307$2,779,240
57$3,039,861$2,606,870$2,488,258$2,885,753
58$3,282,015$2,666,694$2,503,702$2,999,102
59$3,546,729$2,727,311$2,517,524$3,119,919
60$3,836,237$2,788,691$2,529,603$3,248,899
61$4,152,999$2,850,802$2,539,811$3,386,810
62$4,499,722$2,913,610$2,548,012$3,534,496
63$4,879,390$2,977,073$2,554,067$3,692,891
64$5,295,286$3,041,147$2,557,826$3,863,024
65$5,751,026$3,105,785$2,559,134$4,046,029
66$6,250,594$3,170,931$2,557,829$4,243,158
67$6,798,377$3,236,529$2,553,738$4,455,792
68$7,399,205$3,302,512$2,546,681$4,685,454
69$8,058,400$3,368,812$2,536,472$4,933,823
70$8,781,825$3,435,351$2,522,911$5,202,754
71$9,575,934$3,502,047$2,505,792$5,494,291
72$10,447,842$3,568,809$2,484,899$5,810,690
73$11,405,382$3,635,541$2,460,003$6,154,438
74$12,457,184$3,702,136$2,430,866$6,528,280
75$13,612,756$3,768,480$2,397,240$6,935,244
76$14,882,573$3,834,451$2,358,863$7,378,671
77$16,278,172$3,899,916$2,315,461$7,862,245
78$17,812,266$3,964,732$2,266,750$8,390,030
79$19,498,860$4,028,747$2,212,428$8,966,511
80$21,353,383$4,091,795$2,152,184$9,596,632
81$23,392,835$4,153,700$2,085,689$10,285,849
82$25,635,946$4,214,273$2,012,601$11,040,180
83$28,103,351$4,273,310$1,932,562$11,866,262
84$30,817,786$4,330,596$1,845,196$12,771,415
85$33,804,302$4,385,897$1,750,112$13,763,714
86$37,090,500$4,438,965$1,646,900$14,852,065
87$40,706,792$4,489,536$1,535,133$16,046,289
88$44,686,688$4,537,326$1,414,363$17,357,220
89$49,067,109$4,582,034$1,284,123$18,796,803
90$53,888,738$4,623,338$1,143,925$20,378,215
91$59,196,402$4,660,894$993,259$22,115,985
92$65,039,494$4,694,337$831,592$24,026,136
93$71,472,441$4,723,278$658,369$26,126,338
94$78,555,215$4,747,303$473,009$28,436,075
95$86,353,898$4,765,972$274,906$30,976,835
96$94,941,307$4,778,816$63,427$33,772,309
97$104,397,681$4,785,338$0$36,848,622
98$114,811,433$4,785,009$0$40,274,399
99$126,279,992$4,777,267$0$44,060,784
100$138,910,715$4,761,517$0$48,227,389