Can I retire at age 55 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$238,653$236,528$234,454$232,429$230,453$224,882
2 years$118,145$115,945$113,812$111,745$109,739$104,160
3 years$77,981$75,771$73,644$71,596$69,623$64,210
4 years$57,903$55,700$53,594$51,581$49,656$44,451
5 years$45,859$43,669$41,591$39,619$37,748$32,765
6 years$37,833$35,659$33,612$31,684$29,868$25,113
7 years$32,102$29,947$27,932$26,049$24,291$19,763
8 years$27,805$25,670$23,688$21,852$20,152$15,850
9 years$24,466$22,350$20,403$18,613$16,971$12,892
10 years$21,795$19,701$17,788$16,044$14,460$10,599
11 years$19,612$17,538$15,660$13,964$12,436$8,788
12 years$17,794$15,741$13,898$12,248$10,777$7,335
13 years$16,257$14,226$12,417$10,813$9,398$6,155
14 years$14,940$12,931$11,156$9,599$8,238$5,188
15 years$13,800$11,812$10,073$8,560$7,253$4,389
16 years$12,804$10,838$9,132$7,665$6,410$3,724
17 years$11,925$9,981$8,310$6,887$5,684$3,168
18 years$11,146$9,223$7,586$6,206$5,054$2,701
19 years$10,449$8,548$6,945$5,608$4,505$2,306
20 years$9,822$7,943$6,374$5,079$4,024$1,972
21 years$9,256$7,399$5,862$4,610$3,601$1,689
22 years$8,742$6,906$5,403$4,191$3,228$1,448
23 years$8,274$6,459$4,989$3,817$2,897$1,242
24 years$7,845$6,052$4,614$3,481$2,604$1,067
25 years$7,451$5,679$4,273$3,179$2,343$917
26 years$7,088$5,338$3,963$2,907$2,111$788
27 years$6,752$5,024$3,680$2,661$1,903$678
28 years$6,441$4,734$3,421$2,438$1,717$584
29 years$6,152$4,466$3,184$2,236$1,551$502
30 years$5,883$4,217$2,966$2,052$1,401$433
31 years$5,631$3,987$2,765$1,884$1,267$373
32 years$5,396$3,772$2,580$1,732$1,146$321
33 years$5,176$3,572$2,409$1,593$1,037$277
34 years$4,968$3,386$2,250$1,465$939$238
35 years$4,774$3,211$2,104$1,349$850$206
36 years$4,590$3,048$1,968$1,242$770$177
37 years$4,417$2,895$1,842$1,145$698$153
38 years$4,253$2,751$1,725$1,055$633$132
39 years$4,098$2,616$1,616$973$574$114
40 years$3,951$2,489$1,515$897$521$98
41 years$3,812$2,369$1,421$828$472$85
42 years$3,679$2,257$1,332$764$429$73
43 years$3,554$2,150$1,250$705$389$63
44 years$3,434$2,049$1,174$651$353$54
45 years$3,320$1,954$1,102$601$321$47
46 years$3,211$1,864$1,035$555$291$40
47 years$3,107$1,779$972$513$264$35
48 years$3,007$1,698$914$474$240$30
49 years$2,913$1,622$859$438$218$26
50 years$2,822$1,549$808$405$198$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,890,000, adding $6,765 every year, while hoping to spend $21,927 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: 35/37/28 Blend
54$2,890,000$2,890,000$2,890,000$2,890,000
55$3,191,758$3,038,588$2,993,793$3,276,331
56$3,493,987$3,164,149$3,070,755$3,465,822
57$3,826,309$3,295,127$3,149,560$3,667,686
58$4,191,769$3,431,765$3,230,247$3,885,074
59$4,593,725$3,574,317$3,312,856$4,119,392
60$5,035,873$3,723,046$3,397,425$4,372,179
61$5,522,289$3,878,232$3,483,995$4,645,125
62$6,057,460$4,040,164$3,572,607$4,940,089
63$6,646,334$4,209,145$3,663,302$5,259,105
64$7,294,360$4,385,493$3,756,123$5,604,413
65$8,007,543$4,569,540$3,851,111$5,978,469
66$8,792,499$4,761,634$3,948,310$6,383,973
67$9,656,519$4,962,139$4,047,763$6,823,890
68$10,607,634$5,171,435$4,149,514$7,301,479
69$11,654,698$5,389,919$4,253,607$7,820,322
70$12,807,461$5,618,010$4,360,088$8,384,355
71$14,076,673$5,856,143$4,469,001$8,997,905
72$15,474,173$6,104,774$4,580,392$9,665,731
73$17,013,012$6,364,381$4,694,308$10,393,063
74$18,707,567$6,635,463$4,810,796$11,185,656
75$20,573,682$6,918,544$4,929,901$12,049,837
76$22,628,817$7,214,172$5,051,671$12,992,566
77$24,892,208$7,522,918$5,176,154$14,021,499
78$27,385,056$7,845,384$5,303,398$15,145,060
79$30,130,721$8,182,197$5,433,451$16,372,516
80$33,154,943$8,534,013$5,566,360$17,714,066
81$36,486,089$8,901,522$5,702,175$19,180,930
82$40,155,417$9,285,443$5,840,944$20,785,458
83$44,197,369$9,686,529$5,982,716$22,541,243
84$48,649,903$10,105,572$6,127,540$24,463,245
85$53,554,844$10,543,396$6,275,463$26,567,930
86$58,958,283$11,000,867$6,426,536$28,873,426
87$64,911,009$11,478,891$6,580,806$31,399,689
88$71,468,991$11,978,415$6,738,322$34,168,686
89$78,693,905$12,500,434$6,899,132$37,204,607
90$86,653,714$13,045,987$7,063,284$40,534,083
91$95,423,315$13,616,162$7,230,826$44,186,436
92$105,085,239$14,212,100$7,401,805$48,193,957
93$115,730,435$14,834,994$7,576,267$52,592,201
94$127,459,125$15,486,095$7,754,258$57,420,322
95$140,381,754$16,166,711$7,935,823$62,721,440
96$154,620,028$16,878,215$8,121,008$68,543,042
97$170,308,064$17,622,041$8,309,856$74,937,429
98$187,593,660$18,399,694$8,502,408$81,962,200
99$206,639,682$19,212,748$8,698,708$89,680,797
100$227,625,610$20,062,853$8,898,795$98,163,099