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

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$241,131$238,983$236,887$234,842$232,845$228,424
2 years$119,372$117,149$114,994$112,905$110,879$106,442
3 years$78,791$76,558$74,409$72,339$70,346$66,032
4 years$58,504$56,278$54,150$52,116$50,171$46,013
5 years$46,335$44,123$42,023$40,030$38,139$34,148
6 years$38,225$36,030$33,961$32,013$30,178$26,359
7 years$32,435$30,258$28,222$26,319$24,543$20,897
8 years$28,094$25,936$23,934$22,079$20,361$16,887
9 years$24,720$22,582$20,614$18,806$17,147$13,842
10 years$22,022$19,905$17,972$16,211$14,610$11,472
11 years$19,816$17,720$15,822$14,108$12,565$9,590
12 years$17,979$15,905$14,042$12,375$10,889$8,073
13 years$16,425$14,373$12,546$10,925$9,495$6,834
14 years$15,095$13,065$11,272$9,698$8,323$5,811
15 years$13,944$11,935$10,177$8,649$7,329$4,961
16 years$12,937$10,950$9,227$7,744$6,477$4,248
17 years$12,049$10,085$8,396$6,958$5,743$3,648
18 years$11,261$9,319$7,665$6,271$5,106$3,139
19 years$10,557$8,637$7,017$5,666$4,551$2,707
20 years$9,924$8,025$6,440$5,132$4,065$2,338
21 years$9,352$7,475$5,923$4,657$3,638$2,022
22 years$8,833$6,978$5,459$4,235$3,261$1,751
23 years$8,360$6,526$5,041$3,857$2,927$1,518
24 years$7,926$6,115$4,662$3,517$2,631$1,317
25 years$7,528$5,738$4,318$3,212$2,368$1,143
26 years$7,161$5,393$4,004$2,937$2,133$993
27 years$6,822$5,076$3,718$2,688$1,923$863
28 years$6,508$4,783$3,457$2,463$1,735$751
29 years$6,216$4,512$3,217$2,259$1,567$653
30 years$5,944$4,261$2,996$2,073$1,416$569
31 years$5,690$4,028$2,793$1,904$1,280$495
32 years$5,452$3,811$2,606$1,750$1,158$431
33 years$5,229$3,609$2,434$1,609$1,048$376
34 years$5,020$3,421$2,274$1,480$949$327
35 years$4,823$3,245$2,126$1,363$859$285
36 years$4,638$3,080$1,989$1,255$778$249
37 years$4,463$2,925$1,861$1,156$706$217
38 years$4,297$2,780$1,743$1,066$640$189
39 years$4,140$2,643$1,633$983$580$165
40 years$3,992$2,515$1,531$907$526$144
41 years$3,851$2,394$1,435$836$477$125
42 years$3,718$2,280$1,346$772$433$109
43 years$3,590$2,172$1,263$713$393$95
44 years$3,469$2,071$1,186$658$357$83
45 years$3,354$1,975$1,113$608$324$73
46 years$3,244$1,884$1,046$561$294$63
47 years$3,139$1,798$983$519$267$55
48 years$3,039$1,716$923$479$243$48
49 years$2,943$1,639$868$443$220$42
50 years$2,851$1,565$816$409$200$37

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 $2,924 every year, while hoping to spend $37,639 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: 53/40/7 Blend
54$2,920,000$2,920,000$2,920,000$2,920,000
55$3,220,856$3,066,096$3,020,836$3,386,020
56$3,509,336$3,176,287$3,081,987$3,608,443
57$3,825,979$3,290,616$3,143,924$3,845,931
58$4,173,618$3,409,246$3,206,635$4,103,386
59$4,555,375$3,532,347$3,270,105$4,382,701
60$4,974,686$3,660,094$3,334,316$4,685,958
61$5,435,339$3,792,674$3,399,251$5,015,443
62$5,941,505$3,930,277$3,464,887$5,373,673
63$6,497,781$4,073,102$3,531,203$5,763,414
64$7,109,230$4,221,359$3,598,173$6,187,710
65$7,781,429$4,375,264$3,665,770$6,649,906
66$8,520,525$4,535,042$3,733,964$7,153,686
67$9,333,289$4,700,930$3,802,722$7,703,100
68$10,227,180$4,873,171$3,872,009$8,302,606
69$11,210,418$5,052,022$3,941,787$8,957,109
70$12,292,058$5,237,748$4,012,014$9,672,007
71$13,482,079$5,430,628$4,082,647$10,453,240
72$14,791,472$5,630,951$4,153,637$11,307,348
73$16,232,352$5,839,017$4,224,933$12,241,528
74$17,818,064$6,055,141$4,296,481$13,263,704
75$19,563,314$6,279,650$4,368,220$14,382,596
76$21,484,305$6,512,886$4,440,089$15,607,808
77$23,598,892$6,755,205$4,512,020$16,949,913
78$25,926,747$7,006,979$4,583,941$18,420,551
79$28,489,548$7,268,593$4,655,775$20,032,541
80$31,311,180$7,540,452$4,727,442$21,799,995
81$34,417,962$7,822,977$4,798,853$23,738,458
82$37,838,898$8,116,606$4,869,918$25,865,046
83$41,605,943$8,421,797$4,940,538$28,198,609
84$45,754,313$8,739,029$5,010,610$30,759,907
85$50,322,810$9,068,798$5,080,022$33,571,804
86$55,354,193$9,411,626$5,148,659$36,659,485
87$60,895,578$9,768,053$5,216,397$40,050,687
88$66,998,885$10,138,646$5,283,104$43,775,962
89$73,721,326$10,523,994$5,348,643$47,868,964
90$81,125,946$10,924,714$5,412,867$52,366,761
91$89,282,215$11,341,448$5,475,621$57,310,189
92$98,266,689$11,774,867$5,536,742$62,744,229
93$108,163,727$12,225,671$5,596,059$68,718,434
94$119,066,288$12,694,590$5,653,388$75,287,392
95$131,076,811$13,182,386$5,708,538$82,511,239
96$144,308,179$13,689,856$5,761,307$90,456,225
97$158,884,785$14,217,831$5,811,482$99,195,336
98$174,943,705$14,767,177$5,858,839$108,808,983
99$192,635,994$15,338,800$5,903,142$119,385,753
100$212,128,110$15,933,646$5,944,141$131,023,245