Can I retire at age 55 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$199,841$198,061$196,325$194,629$192,974$192,080
2 years$98,931$97,089$95,303$93,572$91,892$90,990
3 years$65,299$63,449$61,667$59,952$58,300$57,418
4 years$48,486$46,641$44,878$43,192$41,580$40,724
5 years$38,401$36,567$34,827$33,176$31,609$30,781
6 years$31,680$29,860$28,146$26,531$25,011$24,213
7 years$26,881$25,076$23,389$21,813$20,341$19,573
8 years$23,283$21,495$19,836$18,298$16,874$16,138
9 years$20,487$18,715$17,085$15,586$14,211$13,504
10 years$18,251$16,497$14,895$13,435$12,108$11,431
11 years$16,423$14,686$13,113$11,693$10,413$9,766
12 years$14,900$13,181$11,638$10,256$9,024$8,406
13 years$13,613$11,912$10,397$9,055$7,869$7,279
14 years$12,510$10,828$9,342$8,038$6,898$6,336
15 years$11,556$9,891$8,435$7,168$6,074$5,538
16 years$10,722$9,075$7,647$6,418$5,368$4,859
17 years$9,986$8,358$6,959$5,767$4,760$4,276
18 years$9,333$7,723$6,352$5,197$4,232$3,773
19 years$8,749$7,158$5,815$4,696$3,772$3,337
20 years$8,225$6,651$5,337$4,253$3,369$2,958
21 years$7,751$6,195$4,909$3,860$3,015$2,626
22 years$7,320$5,783$4,524$3,510$2,703$2,335
23 years$6,928$5,409$4,177$3,196$2,426$2,079
24 years$6,569$5,068$3,863$2,915$2,181$1,853
25 years$6,239$4,756$3,578$2,662$1,962$1,653
26 years$5,935$4,470$3,319$2,434$1,767$1,477
27 years$5,654$4,207$3,082$2,228$1,594$1,320
28 years$5,394$3,964$2,865$2,041$1,438$1,181
29 years$5,152$3,739$2,666$1,872$1,298$1,057
30 years$4,926$3,531$2,483$1,718$1,173$947
31 years$4,716$3,338$2,315$1,578$1,061$848
32 years$4,519$3,159$2,160$1,450$959$761
33 years$4,334$2,991$2,017$1,334$868$682
34 years$4,160$2,835$1,884$1,227$786$612
35 years$3,997$2,689$1,762$1,129$712$549
36 years$3,844$2,552$1,648$1,040$645$493
37 years$3,698$2,424$1,543$958$585$443
38 years$3,561$2,304$1,445$883$530$398
39 years$3,432$2,191$1,353$815$481$357
40 years$3,309$2,084$1,269$751$436$321
41 years$3,192$1,984$1,190$693$396$289
42 years$3,081$1,890$1,116$640$359$259
43 years$2,976$1,800$1,047$591$326$233
44 years$2,875$1,716$983$545$296$210
45 years$2,780$1,636$923$504$268$189
46 years$2,689$1,561$867$465$244$170
47 years$2,602$1,490$814$430$221$153
48 years$2,518$1,422$765$397$201$137
49 years$2,439$1,358$719$367$183$123
50 years$2,363$1,297$676$339$166$111

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,420,000, adding $4,698 every year, while hoping to spend $51,254 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: 54/18/28 Blend
54$2,420,000$2,420,000$2,420,000$2,420,000
55$2,671,686$2,543,426$2,505,916$2,794,923
56$2,889,664$2,613,520$2,535,330$2,950,736
57$3,128,158$2,685,331$2,564,012$3,114,644
58$3,389,207$2,758,888$2,591,883$3,292,074
59$3,675,054$2,834,223$2,618,860$3,484,341
60$3,988,173$2,911,363$2,644,855$3,692,898
61$4,331,286$2,990,338$2,669,776$3,919,344
62$4,707,389$3,071,177$2,693,526$4,165,439
63$5,119,787$3,153,909$2,716,003$4,433,126
64$5,572,114$3,238,559$2,737,098$4,724,542
65$6,068,377$3,325,156$2,756,699$5,042,042
66$6,612,989$3,413,726$2,774,685$5,388,225
67$7,210,808$3,504,293$2,790,931$5,765,949
68$7,867,188$3,596,881$2,805,305$6,178,367
69$8,588,027$3,691,514$2,817,669$6,628,952
70$9,379,821$3,788,213$2,827,875$7,121,534
71$10,249,725$3,886,998$2,835,772$7,660,329
72$11,205,625$3,987,889$2,841,198$8,249,986
73$12,256,205$4,090,902$2,843,985$8,895,629
74$13,411,033$4,196,052$2,843,954$9,602,903
75$14,680,652$4,303,352$2,840,920$10,378,031
76$16,076,676$4,412,813$2,834,688$11,227,868
77$17,611,900$4,524,444$2,825,052$12,159,973
78$19,300,421$4,638,249$2,811,800$13,182,674
79$21,157,774$4,754,233$2,794,704$14,305,149
80$23,201,071$4,872,394$2,773,531$15,537,515
81$25,449,167$4,992,729$2,748,032$16,890,920
82$27,922,840$5,115,230$2,717,948$18,377,652
83$30,644,980$5,239,887$2,683,010$20,011,252
84$33,640,809$5,366,683$2,642,932$21,806,645
85$36,938,120$5,495,598$2,597,418$23,780,279
86$40,567,533$5,626,607$2,546,157$25,950,283
87$44,562,791$5,759,681$2,488,822$28,336,636
88$48,961,072$5,894,782$2,425,075$30,961,357
89$53,803,344$6,031,868$2,354,557$33,848,714
90$59,134,747$6,170,892$2,276,896$37,025,452
91$65,005,022$6,311,796$2,191,703$40,521,049
92$71,468,979$6,454,519$2,098,570$44,367,992
93$78,587,013$6,598,989$1,997,070$48,602,082
94$86,425,674$6,745,125$1,886,759$53,262,781
95$95,058,297$6,892,841$1,767,169$58,393,577
96$104,565,690$7,042,036$1,637,815$64,042,396
97$115,036,897$7,192,602$1,498,189$70,262,062
98$126,570,040$7,344,420$1,347,758$77,110,789
99$139,273,245$7,497,357$1,185,969$84,652,734
100$153,265,658$7,651,270$1,012,241$92,958,605