Can I retire at age 55 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$241,131$238,983$236,887$234,842$232,845$225,391
2 years$119,372$117,149$114,994$112,905$110,879$103,438
3 years$78,791$76,558$74,409$72,339$70,346$63,152
4 years$58,504$56,278$54,150$52,116$50,171$43,279
5 years$46,335$44,123$42,023$40,030$38,139$31,567
6 years$38,225$36,030$33,961$32,013$30,178$23,931
7 years$32,435$30,258$28,222$26,319$24,543$18,621
8 years$28,094$25,936$23,934$22,079$20,361$14,760
9 years$24,720$22,582$20,614$18,806$17,147$11,860
10 years$22,022$19,905$17,972$16,211$14,610$9,630
11 years$19,816$17,720$15,822$14,108$12,565$7,882
12 years$17,979$15,905$14,042$12,375$10,889$6,493
13 years$16,425$14,373$12,546$10,925$9,495$5,376
14 years$15,095$13,065$11,272$9,698$8,323$4,469
15 years$13,944$11,935$10,177$8,649$7,329$3,728
16 years$12,937$10,950$9,227$7,744$6,477$3,118
17 years$12,049$10,085$8,396$6,958$5,743$2,614
18 years$11,261$9,319$7,665$6,271$5,106$2,196
19 years$10,557$8,637$7,017$5,666$4,551$1,847
20 years$9,924$8,025$6,440$5,132$4,065$1,556
21 years$9,352$7,475$5,923$4,657$3,638$1,312
22 years$8,833$6,978$5,459$4,235$3,261$1,107
23 years$8,360$6,526$5,041$3,857$2,927$935
24 years$7,926$6,115$4,662$3,517$2,631$790
25 years$7,528$5,738$4,318$3,212$2,368$668
26 years$7,161$5,393$4,004$2,937$2,133$566
27 years$6,822$5,076$3,718$2,688$1,923$479
28 years$6,508$4,783$3,457$2,463$1,735$405
29 years$6,216$4,512$3,217$2,259$1,567$343
30 years$5,944$4,261$2,996$2,073$1,416$291
31 years$5,690$4,028$2,793$1,904$1,280$246
32 years$5,452$3,811$2,606$1,750$1,158$209
33 years$5,229$3,609$2,434$1,609$1,048$177
34 years$5,020$3,421$2,274$1,480$949$150
35 years$4,823$3,245$2,126$1,363$859$127
36 years$4,638$3,080$1,989$1,255$778$108
37 years$4,463$2,925$1,861$1,156$706$91
38 years$4,297$2,780$1,743$1,066$640$77
39 years$4,140$2,643$1,633$983$580$66
40 years$3,992$2,515$1,531$907$526$56
41 years$3,851$2,394$1,435$836$477$47
42 years$3,718$2,280$1,346$772$433$40
43 years$3,590$2,172$1,263$713$393$34
44 years$3,469$2,071$1,186$658$357$29
45 years$3,354$1,975$1,113$608$324$24
46 years$3,244$1,884$1,046$561$294$21
47 years$3,139$1,798$983$519$267$18
48 years$3,039$1,716$923$479$243$15
49 years$2,943$1,639$868$443$220$13
50 years$2,851$1,565$816$409$200$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,920,000, adding $6,910 every year, while hoping to spend $40,549 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: 80/7/13 Blend
54$2,920,000$2,920,000$2,920,000$2,920,000
55$3,224,968$3,070,208$3,024,948$3,474,357
56$3,510,771$3,177,504$3,083,140$3,746,511
57$3,824,366$3,288,699$3,141,922$4,039,161
58$4,168,547$3,403,940$3,201,272$4,359,152
59$4,546,388$3,523,383$3,261,164$4,709,204
60$4,961,277$3,647,186$3,321,570$5,092,310
61$5,416,947$3,775,518$3,382,462$5,511,771
62$5,917,508$3,908,550$3,443,807$5,971,217
63$6,467,489$4,046,465$3,505,570$6,474,652
64$7,071,879$4,189,448$3,567,713$7,026,482
65$7,736,176$4,337,696$3,630,196$7,631,563
66$8,466,434$4,491,411$3,692,976$8,295,241
67$9,269,326$4,650,806$3,756,006$9,023,409
68$10,152,201$4,816,099$3,819,236$9,822,555
69$11,123,157$4,987,519$3,882,612$10,699,828
70$12,191,117$5,165,306$3,946,077$11,663,105
71$13,365,911$5,349,706$4,009,571$12,721,062
72$14,658,369$5,540,977$4,073,028$13,883,258
73$16,080,427$5,739,389$4,136,378$15,160,224
74$17,645,231$5,945,220$4,199,547$16,563,563
75$19,367,271$6,158,762$4,262,458$18,106,059
76$21,262,509$6,380,317$4,325,027$19,801,794
77$23,348,534$6,610,202$4,387,164$21,666,289
78$25,644,727$6,848,744$4,448,777$23,716,640
79$28,172,443$7,096,287$4,509,765$25,971,685
80$30,955,212$7,353,185$4,570,022$28,452,183
81$34,018,964$7,619,810$4,629,437$31,181,003
82$37,392,266$7,896,550$4,687,892$34,183,345
83$41,106,602$8,183,805$4,745,261$37,486,976
84$45,196,660$8,481,996$4,801,412$41,122,493
85$49,700,666$8,791,560$4,856,205$45,123,606
86$54,660,739$9,112,952$4,909,494$49,527,465
87$60,123,294$9,446,647$4,961,121$54,375,001
88$66,139,475$9,793,137$5,010,924$59,711,318
89$72,765,641$10,152,940$5,058,729$65,586,116
90$80,063,893$10,526,590$5,104,353$72,054,160
91$88,102,665$10,914,649$5,147,604$79,175,797
92$96,957,369$11,317,699$5,188,281$87,017,524
93$106,711,101$11,736,347$5,226,169$95,652,618
94$117,455,433$12,171,227$5,261,045$105,161,823
95$129,291,271$12,623,001$5,292,673$115,634,115
96$142,329,808$13,092,355$5,320,806$127,167,541
97$156,693,577$13,580,010$5,345,182$139,870,144
98$172,517,604$14,086,712$5,365,527$153,860,980
99$189,950,682$14,613,243$5,381,555$169,271,245
100$209,156,777$15,160,418$5,392,962$186,245,510