Can I retire at age 55 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$201,493$199,698$197,947$196,238$194,569$187,516
2 years$99,749$97,891$96,091$94,345$92,652$85,624
3 years$65,839$63,973$62,177$60,448$58,782$52,000
4 years$48,887$47,027$45,249$43,549$41,924$35,439
5 years$38,719$36,870$35,115$33,450$31,870$25,699
6 years$31,942$30,107$28,378$26,750$25,218$19,366
7 years$27,103$25,284$23,582$21,993$20,509$14,974
8 years$23,476$21,673$20,000$18,449$17,014$11,792
9 years$20,656$18,870$17,226$15,715$14,328$9,412
10 years$18,402$16,633$15,018$13,546$12,208$7,589
11 years$16,558$14,807$13,221$11,789$10,500$6,168
12 years$15,023$13,290$11,734$10,341$9,099$5,043
13 years$13,725$12,011$10,483$9,129$7,934$4,145
14 years$12,614$10,917$9,419$8,104$6,955$3,419
15 years$11,651$9,973$8,504$7,227$6,124$2,830
16 years$10,810$9,150$7,710$6,471$5,412$2,348
17 years$10,069$8,427$7,016$5,814$4,799$1,953
18 years$9,410$7,787$6,405$5,240$4,267$1,627
19 years$8,822$7,217$5,863$4,735$3,803$1,357
20 years$8,293$6,706$5,381$4,288$3,397$1,134
21 years$7,815$6,247$4,950$3,892$3,040$948
22 years$7,381$5,831$4,562$3,539$2,725$793
23 years$6,985$5,454$4,212$3,223$2,446$664
24 years$6,623$5,110$3,895$2,939$2,199$556
25 years$6,291$4,795$3,608$2,684$1,978$466
26 years$5,984$4,507$3,346$2,454$1,782$391
27 years$5,701$4,241$3,107$2,247$1,607$328
28 years$5,438$3,997$2,889$2,058$1,450$275
29 years$5,194$3,770$2,688$1,888$1,309$231
30 years$4,967$3,561$2,504$1,732$1,183$194
31 years$4,754$3,366$2,334$1,591$1,069$163
32 years$4,556$3,185$2,178$1,462$967$137
33 years$4,370$3,016$2,033$1,345$875$115
34 years$4,195$2,859$1,900$1,237$793$96
35 years$4,030$2,711$1,776$1,139$718$81
36 years$3,875$2,573$1,662$1,049$650$68
37 years$3,729$2,444$1,555$966$590$57
38 years$3,591$2,323$1,457$891$534$48
39 years$3,460$2,209$1,365$821$485$40
40 years$3,336$2,102$1,279$758$440$34
41 years$3,218$2,000$1,199$699$399$28
42 years$3,106$1,905$1,125$645$362$24
43 years$3,000$1,815$1,056$595$328$20
44 years$2,899$1,730$991$550$298$17
45 years$2,803$1,650$930$508$271$14
46 years$2,711$1,574$874$469$246$12
47 years$2,623$1,502$821$433$223$10
48 years$2,539$1,434$772$400$203$8
49 years$2,459$1,369$725$370$184$7
50 years$2,382$1,308$682$342$167$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,440,000, adding $6,776 every year, while hoping to spend $48,699 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: 44/26/30 Blend
54$2,440,000$2,440,000$2,440,000$2,440,000
55$2,695,869$2,566,549$2,528,729$2,790,733
56$2,919,033$2,640,495$2,561,627$2,933,288
57$3,163,327$2,716,432$2,593,993$3,082,598
58$3,430,855$2,794,406$2,625,761$3,243,547
59$3,723,934$2,874,464$2,656,856$3,417,249
60$4,045,116$2,956,653$2,687,202$3,604,930
61$4,397,211$3,041,023$2,716,716$3,807,941
62$4,783,314$3,127,620$2,745,313$4,027,768
63$5,206,833$3,216,494$2,772,903$4,266,051
64$5,671,523$3,307,696$2,799,388$4,524,593
65$6,181,520$3,401,274$2,824,669$4,805,383
66$6,741,379$3,497,281$2,848,639$5,110,610
67$7,356,118$3,595,765$2,871,187$5,442,687
68$8,031,264$3,696,780$2,892,194$5,804,271
69$8,772,907$3,800,376$2,911,536$6,198,291
70$9,587,755$3,906,606$2,929,084$6,627,974
71$10,483,198$4,015,522$2,944,700$7,096,874
72$11,467,377$4,127,175$2,958,241$7,608,909
73$12,549,261$4,241,619$2,969,554$8,168,396
74$13,738,733$4,358,905$2,978,480$8,780,090
75$15,046,677$4,479,085$2,984,854$9,449,233
76$16,485,090$4,602,212$2,988,498$10,181,602
77$18,067,187$4,728,338$2,989,230$10,983,560
78$19,807,526$4,857,513$2,986,855$11,862,123
79$21,722,151$4,989,788$2,981,172$12,825,019
80$23,828,737$5,125,214$2,971,968$13,880,768
81$26,146,758$5,263,840$2,959,019$15,038,757
82$28,697,674$5,405,714$2,942,093$16,309,332
83$31,505,127$5,550,885$2,920,943$17,703,894
84$34,595,170$5,699,398$2,895,315$19,235,008
85$37,996,508$5,851,299$2,864,938$20,916,523
86$41,740,770$6,006,631$2,829,532$22,763,700
87$45,862,808$6,165,435$2,788,801$24,793,357
88$50,401,025$6,327,752$2,742,436$27,024,032
89$55,397,737$6,493,620$2,690,115$29,476,152
90$60,899,571$6,663,072$2,631,499$32,172,232
91$66,957,908$6,836,143$2,566,235$35,137,083
92$73,629,362$7,012,861$2,493,951$38,398,051
93$80,976,319$7,193,254$2,414,261$41,985,274
94$89,067,524$7,377,344$2,326,759$45,931,964
95$97,978,728$7,565,150$2,231,022$50,274,726
96$107,793,404$7,756,688$2,126,606$55,053,902
97$118,603,533$7,951,968$2,013,050$60,313,952
98$130,510,475$8,150,995$1,889,868$66,103,874
99$143,625,919$8,353,770$1,756,555$72,477,669
100$158,072,946$8,560,288$1,612,582$79,494,849