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

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$199,841$198,061$196,325$194,629$192,974$187,398
2 years$98,931$97,089$95,303$93,572$91,892$86,319
3 years$65,299$63,449$61,667$59,952$58,300$52,904
4 years$48,486$46,641$44,878$43,192$41,580$36,402
5 years$38,401$36,567$34,827$33,176$31,609$26,663
6 years$31,680$29,860$28,146$26,531$25,011$20,303
7 years$26,881$25,076$23,389$21,813$20,341$15,870
8 years$23,283$21,495$19,836$18,298$16,874$12,638
9 years$20,487$18,715$17,085$15,586$14,211$10,205
10 years$18,251$16,497$14,895$13,435$12,108$8,328
11 years$16,423$14,686$13,113$11,693$10,413$6,851
12 years$14,900$13,181$11,638$10,256$9,024$5,674
13 years$13,613$11,912$10,397$9,055$7,869$4,723
14 years$12,510$10,828$9,342$8,038$6,898$3,948
15 years$11,556$9,891$8,435$7,168$6,074$3,312
16 years$10,722$9,075$7,647$6,418$5,368$2,787
17 years$9,986$8,358$6,959$5,767$4,760$2,350
18 years$9,333$7,723$6,352$5,197$4,232$1,985
19 years$8,749$7,158$5,815$4,696$3,772$1,680
20 years$8,225$6,651$5,337$4,253$3,369$1,424
21 years$7,751$6,195$4,909$3,860$3,015$1,208
22 years$7,320$5,783$4,524$3,510$2,703$1,026
23 years$6,928$5,409$4,177$3,196$2,426$872
24 years$6,569$5,068$3,863$2,915$2,181$742
25 years$6,239$4,756$3,578$2,662$1,962$631
26 years$5,935$4,470$3,319$2,434$1,767$538
27 years$5,654$4,207$3,082$2,228$1,594$458
28 years$5,394$3,964$2,865$2,041$1,438$390
29 years$5,152$3,739$2,666$1,872$1,298$333
30 years$4,926$3,531$2,483$1,718$1,173$284
31 years$4,716$3,338$2,315$1,578$1,061$242
32 years$4,519$3,159$2,160$1,450$959$206
33 years$4,334$2,991$2,017$1,334$868$176
34 years$4,160$2,835$1,884$1,227$786$150
35 years$3,997$2,689$1,762$1,129$712$128
36 years$3,844$2,552$1,648$1,040$645$109
37 years$3,698$2,424$1,543$958$585$93
38 years$3,561$2,304$1,445$883$530$80
39 years$3,432$2,191$1,353$815$481$68
40 years$3,309$2,084$1,269$751$436$58
41 years$3,192$1,984$1,190$693$396$50
42 years$3,081$1,890$1,116$640$359$42
43 years$2,976$1,800$1,047$591$326$36
44 years$2,875$1,716$983$545$296$31
45 years$2,780$1,636$923$504$268$26
46 years$2,689$1,561$867$465$244$23
47 years$2,602$1,490$814$430$221$19
48 years$2,518$1,422$765$397$201$16
49 years$2,439$1,358$719$367$183$14
50 years$2,363$1,297$676$339$166$12

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 $6,168 every year, while hoping to spend $57,451 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: 36/40/24 Blend
54$2,420,000$2,420,000$2,420,000$2,420,000
55$2,673,202$2,544,942$2,507,432$2,749,905
56$2,884,742$2,608,517$2,530,304$2,870,519
57$3,115,932$2,673,281$2,552,016$2,994,922
58$3,368,718$2,739,233$2,572,470$3,128,081
59$3,645,240$2,806,368$2,591,559$3,270,820
60$3,947,853$2,874,679$2,609,176$3,424,041
61$4,279,153$2,944,157$2,625,202$3,588,743
62$4,641,997$3,014,791$2,639,517$3,766,024
63$5,039,532$3,086,567$2,651,992$3,957,095
64$5,475,223$3,159,468$2,662,493$4,163,290
65$5,952,887$3,233,473$2,670,877$4,386,080
66$6,476,727$3,308,559$2,676,997$4,627,086
67$7,051,373$3,384,698$2,680,696$4,888,094
68$7,681,925$3,461,860$2,681,811$5,171,074
69$8,373,999$3,540,009$2,680,170$5,478,198
70$9,133,784$3,619,106$2,675,592$5,811,858
71$9,968,093$3,699,106$2,667,888$6,174,694
72$10,884,436$3,779,959$2,656,860$6,569,614
73$11,891,084$3,861,612$2,642,300$6,999,825
74$12,997,147$3,944,004$2,623,990$7,468,862
75$14,212,664$4,027,068$2,601,701$7,980,624
76$15,548,692$4,110,731$2,575,194$8,539,406
77$17,017,415$4,194,913$2,544,220$9,149,948
78$18,632,254$4,279,527$2,508,514$9,817,473
79$20,407,998$4,364,477$2,467,803$10,547,738
80$22,360,938$4,449,660$2,421,798$11,347,093
81$24,509,024$4,534,964$2,370,199$12,222,538
82$26,872,034$4,620,267$2,312,690$13,181,789
83$29,471,758$4,705,437$2,248,942$14,233,354
84$32,332,206$4,790,332$2,178,611$15,386,614
85$35,479,831$4,874,798$2,101,334$16,651,910
86$38,943,781$4,958,670$2,016,735$18,040,641
87$42,756,171$5,041,769$1,924,420$19,565,377
88$46,952,388$5,123,904$1,823,977$21,239,975
89$51,571,426$5,204,869$1,714,973$23,079,709
90$56,656,246$5,284,443$1,596,960$25,101,421
91$62,254,191$5,362,389$1,469,466$27,323,676
92$68,417,426$5,438,453$1,332,000$29,766,941
93$75,203,429$5,512,363$1,184,048$32,453,777
94$82,675,539$5,583,829$1,025,074$35,409,058
95$90,903,547$5,652,539$854,517$38,660,202
96$99,964,357$5,718,162$671,791$42,237,434
97$109,942,712$5,780,343$476,287$46,174,074
98$120,931,993$5,838,703$267,367$50,506,851
99$133,035,096$5,892,840$44,363$55,276,252
100$146,365,409$5,942,322$0$60,526,907