Can I retire at age 55 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$203,970$202,153$200,381$198,651$196,961$195,802
2 years$100,975$99,095$97,272$95,505$93,791$92,622
3 years$66,648$64,760$62,942$61,191$59,505$58,361
4 years$49,488$47,605$45,805$44,085$42,439$41,331
5 years$39,195$37,323$35,547$33,861$32,262$31,191
6 years$32,335$30,477$28,727$27,079$25,528$24,496
7 years$27,436$25,595$23,872$22,263$20,761$19,769
8 years$23,765$21,939$20,246$18,676$17,223$16,271
9 years$20,910$19,102$17,438$15,908$14,504$13,592
10 years$18,628$16,838$15,202$13,713$12,358$11,486
11 years$16,762$14,989$13,384$11,934$10,629$9,795
12 years$15,208$13,454$11,878$10,468$9,211$8,414
13 years$13,894$12,158$10,612$9,242$8,032$7,273
14 years$12,769$11,052$9,535$8,204$7,041$6,318
15 years$11,795$10,096$8,609$7,316$6,199$5,512
16 years$10,943$9,263$7,805$6,551$5,479$4,826
17 years$10,192$8,531$7,102$5,886$4,858$4,238
18 years$9,526$7,883$6,484$5,304$4,319$3,732
19 years$8,930$7,306$5,935$4,793$3,850$3,294
20 years$8,395$6,789$5,447$4,341$3,439$2,913
21 years$7,911$6,323$5,010$3,940$3,077$2,580
22 years$7,472$5,903$4,618$3,582$2,758$2,289
23 years$7,071$5,521$4,264$3,262$2,476$2,033
24 years$6,705$5,172$3,943$2,975$2,226$1,808
25 years$6,368$4,854$3,652$2,717$2,003$1,610
26 years$6,058$4,562$3,387$2,485$1,804$1,435
27 years$5,771$4,293$3,145$2,274$1,626$1,279
28 years$5,505$4,046$2,924$2,084$1,468$1,142
29 years$5,258$3,817$2,721$1,911$1,325$1,020
30 years$5,028$3,604$2,535$1,754$1,197$911
31 years$4,813$3,407$2,363$1,611$1,083$814
32 years$4,612$3,224$2,205$1,480$979$728
33 years$4,423$3,053$2,058$1,361$886$652
34 years$4,246$2,894$1,923$1,252$802$583
35 years$4,080$2,745$1,798$1,153$727$522
36 years$3,923$2,605$1,682$1,062$658$468
37 years$3,775$2,474$1,574$978$597$419
38 years$3,635$2,351$1,474$902$541$375
39 years$3,502$2,236$1,381$831$491$336
40 years$3,377$2,127$1,295$767$445$301
41 years$3,258$2,025$1,214$707$404$270
42 years$3,145$1,929$1,139$653$366$242
43 years$3,037$1,838$1,069$603$332$217
44 years$2,935$1,752$1,003$557$302$195
45 years$2,837$1,670$942$514$274$175
46 years$2,744$1,593$885$475$249$157
47 years$2,655$1,521$831$439$226$141
48 years$2,570$1,452$781$405$205$126
49 years$2,489$1,386$734$375$186$113
50 years$2,412$1,324$690$346$169$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,470,000, adding $2,175 every year, while hoping to spend $58,837 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: 41/40/19 Blend
54$2,470,000$2,470,000$2,470,000$2,470,000
55$2,724,184$2,593,274$2,554,989$2,820,536
56$2,939,448$2,657,742$2,577,979$2,953,758
57$3,174,698$2,723,397$2,599,767$3,092,010
58$3,431,909$2,790,235$2,620,251$3,240,428
59$3,713,257$2,858,251$2,639,323$3,399,974
60$4,021,139$2,927,434$2,656,870$3,571,703
61$4,358,192$2,997,776$2,672,772$3,756,779
62$4,727,322$3,069,261$2,686,904$3,956,486
63$5,131,728$3,141,874$2,699,134$4,172,235
64$5,574,933$3,215,594$2,709,324$4,405,584
65$6,060,817$3,290,400$2,717,328$4,658,248
66$6,593,656$3,366,264$2,722,993$4,932,117
67$7,178,154$3,443,157$2,726,159$5,229,273
68$7,819,498$3,521,044$2,726,657$5,552,012
69$8,523,398$3,599,886$2,724,311$5,902,864
70$9,296,144$3,679,640$2,718,935$6,284,615
71$10,144,666$3,760,258$2,710,335$6,700,339
72$11,076,597$3,841,686$2,698,307$7,153,423
73$12,100,347$3,923,865$2,682,637$7,647,598
74$13,225,178$4,006,730$2,663,101$8,186,979
75$14,461,295$4,090,209$2,639,464$8,776,102
76$15,819,942$4,174,224$2,611,480$9,419,964
77$17,313,503$4,258,688$2,578,893$10,124,076
78$18,955,626$4,343,509$2,541,431$10,894,511
79$20,761,344$4,428,585$2,498,813$11,737,964
80$22,747,221$4,513,806$2,450,743$12,661,815
81$24,931,506$4,599,051$2,396,911$13,674,198
82$27,334,306$4,684,191$2,336,995$14,784,081
83$29,977,776$4,769,086$2,270,654$16,001,348
84$32,886,323$4,853,586$2,197,535$17,336,895
85$36,086,843$4,937,526$2,117,267$18,802,732
86$39,608,968$5,020,733$2,029,463$20,412,099
87$43,485,350$5,103,016$1,933,718$22,179,589
88$47,751,966$5,184,174$1,829,607$24,121,291
89$52,448,456$5,263,988$1,716,689$26,254,937
90$57,618,501$5,342,225$1,594,500$28,600,073
91$63,310,229$5,418,636$1,462,557$31,178,247
92$69,576,676$5,492,952$1,320,356$34,013,208
93$76,476,277$5,564,887$1,167,368$37,131,137
94$84,073,425$5,634,134$1,003,042$40,560,889
95$92,439,074$5,700,366$826,804$44,334,275
96$101,651,409$5,763,234$638,052$48,486,355
97$111,796,584$5,822,364$436,158$53,055,777
98$122,969,534$5,877,358$220,468$58,085,137
99$135,274,870$5,927,793$0$63,621,391
100$148,827,868$5,973,216$0$69,718,262