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%18.6%
1 years$241,131$238,983$236,887$234,842$232,845$224,762
2 years$119,372$117,149$114,994$112,905$110,879$102,819
3 years$78,791$76,558$74,409$72,339$70,346$62,563
4 years$58,504$56,278$54,150$52,116$50,171$42,724
5 years$46,335$44,123$42,023$40,030$38,139$31,047
6 years$38,225$36,030$33,961$32,013$30,178$23,447
7 years$32,435$30,258$28,222$26,319$24,543$18,172
8 years$28,094$25,936$23,934$22,079$20,361$14,344
9 years$24,720$22,582$20,614$18,806$17,147$11,477
10 years$22,022$19,905$17,972$16,211$14,610$9,278
11 years$19,816$17,720$15,822$14,108$12,565$7,559
12 years$17,979$15,905$14,042$12,375$10,889$6,198
13 years$16,425$14,373$12,546$10,925$9,495$5,107
14 years$15,095$13,065$11,272$9,698$8,323$4,225
15 years$13,944$11,935$10,177$8,649$7,329$3,507
16 years$12,937$10,950$9,227$7,744$6,477$2,919
17 years$12,049$10,085$8,396$6,958$5,743$2,434
18 years$11,261$9,319$7,665$6,271$5,106$2,034
19 years$10,557$8,637$7,017$5,666$4,551$1,702
20 years$9,924$8,025$6,440$5,132$4,065$1,426
21 years$9,352$7,475$5,923$4,657$3,638$1,196
22 years$8,833$6,978$5,459$4,235$3,261$1,004
23 years$8,360$6,526$5,041$3,857$2,927$843
24 years$7,926$6,115$4,662$3,517$2,631$709
25 years$7,528$5,738$4,318$3,212$2,368$596
26 years$7,161$5,393$4,004$2,937$2,133$501
27 years$6,822$5,076$3,718$2,688$1,923$422
28 years$6,508$4,783$3,457$2,463$1,735$355
29 years$6,216$4,512$3,217$2,259$1,567$299
30 years$5,944$4,261$2,996$2,073$1,416$252
31 years$5,690$4,028$2,793$1,904$1,280$212
32 years$5,452$3,811$2,606$1,750$1,158$179
33 years$5,229$3,609$2,434$1,609$1,048$151
34 years$5,020$3,421$2,274$1,480$949$127
35 years$4,823$3,245$2,126$1,363$859$107
36 years$4,638$3,080$1,989$1,255$778$90
37 years$4,463$2,925$1,861$1,156$706$76
38 years$4,297$2,780$1,743$1,066$640$64
39 years$4,140$2,643$1,633$983$580$54
40 years$3,992$2,515$1,531$907$526$46
41 years$3,851$2,394$1,435$836$477$38
42 years$3,718$2,280$1,346$772$433$32
43 years$3,590$2,172$1,263$713$393$27
44 years$3,469$2,071$1,186$658$357$23
45 years$3,354$1,975$1,113$608$324$19
46 years$3,244$1,884$1,046$561$294$16
47 years$3,139$1,798$983$519$267$14
48 years$3,039$1,716$923$479$243$12
49 years$2,943$1,639$868$443$220$10
50 years$2,851$1,565$816$409$200$8

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 $6,118 every year, while hoping to spend $55,369 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: 46/32/22 Blend
54$2,920,000$2,920,000$2,920,000$2,920,000
55$3,224,151$3,069,391$3,024,131$3,351,875
56$3,494,102$3,160,879$3,066,527$3,533,632
57$3,789,732$3,254,994$3,108,488$3,724,756
58$4,113,603$3,351,806$3,149,940$3,930,990
59$4,468,534$3,451,388$3,190,806$4,153,769
60$4,857,631$3,553,813$3,231,005$4,394,674
61$5,284,315$3,659,156$3,270,450$4,655,446
62$5,752,354$3,767,493$3,309,048$4,937,999
63$6,265,898$3,878,904$3,346,705$5,244,441
64$6,829,518$3,993,468$3,383,318$5,577,094
65$7,448,248$4,111,268$3,418,778$5,938,513
66$8,127,636$4,232,386$3,452,974$6,331,512
67$8,873,790$4,356,909$3,485,784$6,759,190
68$9,693,443$4,484,923$3,517,084$7,224,959
69$10,594,007$4,616,518$3,546,739$7,732,578
70$11,583,651$4,751,783$3,574,611$8,286,186
71$12,671,375$4,890,811$3,600,552$8,890,342
72$13,867,092$5,033,697$3,624,406$9,550,069
73$15,181,723$5,180,537$3,646,012$10,270,899
74$16,627,303$5,331,427$3,665,198$11,058,926
75$18,217,089$5,486,468$3,681,783$11,920,862
76$19,965,687$5,645,761$3,695,578$12,864,104
77$21,889,193$5,809,408$3,706,385$13,896,799
78$24,005,336$5,977,515$3,713,995$15,027,923
79$26,333,655$6,150,187$3,718,188$16,267,368
80$28,895,674$6,327,533$3,718,734$17,626,027
81$31,715,114$6,509,663$3,715,392$19,115,909
82$34,818,107$6,696,688$3,707,909$20,750,239
83$38,233,449$6,888,721$3,696,019$22,543,593
84$41,992,868$7,085,876$3,679,443$24,512,030
85$46,131,326$7,288,269$3,657,890$26,673,245
86$50,687,345$7,496,018$3,631,053$29,046,736
87$55,703,372$7,709,241$3,598,611$31,653,989
88$61,226,181$7,928,058$3,560,229$34,518,676
89$67,307,309$8,152,591$3,515,555$37,666,886
90$74,003,549$8,382,962$3,464,220$41,127,364
91$81,377,478$8,619,294$3,405,839$44,931,786
92$89,498,053$8,861,712$3,340,007$49,115,059
93$98,441,259$9,110,341$3,266,302$53,715,647
94$108,290,826$9,365,306$3,184,282$58,775,937
95$119,139,019$9,626,734$3,093,483$64,342,636
96$131,087,506$9,894,752$2,993,423$70,467,216
97$144,248,323$10,169,486$2,883,594$77,206,397
98$158,744,925$10,451,064$2,763,467$84,622,685
99$174,713,354$10,739,613$2,632,490$92,784,958
100$192,303,520$11,035,258$2,490,082$101,769,121