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

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$201,493$199,698$197,947$196,238$194,569$188,416
2 years$99,749$97,891$96,091$94,345$92,652$86,509
3 years$65,839$63,973$62,177$60,448$58,782$52,842
4 years$48,887$47,027$45,249$43,549$41,924$36,231
5 years$38,719$36,870$35,115$33,450$31,870$26,441
6 years$31,942$30,107$28,378$26,750$25,218$20,056
7 years$27,103$25,284$23,582$21,993$20,509$15,615
8 years$23,476$21,673$20,000$18,449$17,014$12,384
9 years$20,656$18,870$17,226$15,715$14,328$9,957
10 years$18,402$16,633$15,018$13,546$12,208$8,090
11 years$16,558$14,807$13,221$11,789$10,500$6,626
12 years$15,023$13,290$11,734$10,341$9,099$5,462
13 years$13,725$12,011$10,483$9,129$7,934$4,525
14 years$12,614$10,917$9,419$8,104$6,955$3,764
15 years$11,651$9,973$8,504$7,227$6,124$3,142
16 years$10,810$9,150$7,710$6,471$5,412$2,630
17 years$10,069$8,427$7,016$5,814$4,799$2,207
18 years$9,410$7,787$6,405$5,240$4,267$1,855
19 years$8,822$7,217$5,863$4,735$3,803$1,561
20 years$8,293$6,706$5,381$4,288$3,397$1,316
21 years$7,815$6,247$4,950$3,892$3,040$1,111
22 years$7,381$5,831$4,562$3,539$2,725$938
23 years$6,985$5,454$4,212$3,223$2,446$793
24 years$6,623$5,110$3,895$2,939$2,199$671
25 years$6,291$4,795$3,608$2,684$1,978$568
26 years$5,984$4,507$3,346$2,454$1,782$481
27 years$5,701$4,241$3,107$2,247$1,607$407
28 years$5,438$3,997$2,889$2,058$1,450$345
29 years$5,194$3,770$2,688$1,888$1,309$292
30 years$4,967$3,561$2,504$1,732$1,183$248
31 years$4,754$3,366$2,334$1,591$1,069$210
32 years$4,556$3,185$2,178$1,462$967$178
33 years$4,370$3,016$2,033$1,345$875$151
34 years$4,195$2,859$1,900$1,237$793$128
35 years$4,030$2,711$1,776$1,139$718$109
36 years$3,875$2,573$1,662$1,049$650$92
37 years$3,729$2,444$1,555$966$590$78
38 years$3,591$2,323$1,457$891$534$67
39 years$3,460$2,209$1,365$821$485$56
40 years$3,336$2,102$1,279$758$440$48
41 years$3,218$2,000$1,199$699$399$41
42 years$3,106$1,905$1,125$645$362$35
43 years$3,000$1,815$1,056$595$328$29
44 years$2,899$1,730$991$550$298$25
45 years$2,803$1,650$930$508$271$21
46 years$2,711$1,574$874$469$246$18
47 years$2,623$1,502$821$433$223$15
48 years$2,539$1,434$772$400$203$13
49 years$2,459$1,369$725$370$184$11
50 years$2,382$1,308$682$342$167$9

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 $3,407 every year, while hoping to spend $47,113 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: 70/8/22 Blend
54$2,440,000$2,440,000$2,440,000$2,440,000
55$2,692,394$2,563,074$2,525,254$2,865,883
56$2,916,891$2,638,537$2,559,722$3,057,665
57$3,162,707$2,716,119$2,593,766$3,261,669
58$3,431,967$2,795,873$2,627,322$3,483,833
59$3,727,012$2,877,855$2,660,321$3,725,953
60$4,050,418$2,962,121$2,692,693$3,990,004
61$4,405,025$3,048,728$2,724,362$4,278,164
62$4,793,957$3,137,736$2,755,248$4,592,831
63$5,220,659$3,229,203$2,785,267$4,936,647
64$5,688,922$3,323,190$2,814,329$5,312,523
65$6,202,924$3,419,758$2,842,341$5,723,664
66$6,767,267$3,518,971$2,869,205$6,173,605
67$7,387,020$3,620,892$2,894,815$6,666,237
68$8,067,766$3,725,587$2,919,062$7,205,847
69$8,815,658$3,833,120$2,941,830$7,797,161
70$9,637,472$3,943,559$2,962,998$8,445,385
71$10,540,673$4,056,973$2,982,437$9,156,253
72$11,533,486$4,173,429$3,000,013$9,936,087
73$12,624,973$4,292,998$3,015,584$10,791,848
74$13,825,115$4,415,750$3,029,002$11,731,212
75$15,144,913$4,541,758$3,040,110$12,762,633
76$16,596,484$4,671,094$3,048,743$13,895,427
77$18,193,179$4,803,832$3,054,730$15,139,860
78$19,949,708$4,940,044$3,057,888$16,507,246
79$21,882,280$5,079,807$3,058,028$18,010,051
80$24,008,751$5,223,196$3,054,951$19,662,011
81$26,348,798$5,370,288$3,048,446$21,478,263
82$28,924,101$5,521,158$3,038,295$23,475,488
83$31,758,549$5,675,884$3,024,268$25,672,069
84$34,878,462$5,834,543$3,006,122$28,088,261
85$38,312,844$5,997,214$2,983,605$30,746,386
86$42,093,651$6,163,975$2,956,453$33,671,042
87$46,256,096$6,334,903$2,924,387$36,889,337
88$50,838,981$6,510,076$2,887,118$40,431,143
89$55,885,061$6,689,573$2,844,339$44,329,377
90$61,441,446$6,873,472$2,795,734$48,620,318
91$67,560,050$7,061,848$2,740,968$53,343,940
92$74,298,077$7,254,780$2,679,691$58,544,299
93$81,718,559$7,452,343$2,611,540$64,269,942
94$89,890,956$7,654,612$2,536,130$70,574,369
95$98,891,807$7,861,661$2,453,064$77,516,538
96$108,805,451$8,073,562$2,361,921$85,161,420
97$119,724,828$8,290,387$2,262,266$93,580,616
98$131,752,349$8,512,205$2,153,641$102,853,029
99$145,000,869$8,739,083$2,035,568$113,065,610
100$159,594,745$8,971,086$1,907,547$124,314,184