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%
1 years$241,131$238,983$236,887$234,842$232,845$225,301
2 years$119,372$117,149$114,994$112,905$110,879$103,349
3 years$78,791$76,558$74,409$72,339$70,346$63,067
4 years$58,504$56,278$54,150$52,116$50,171$43,199
5 years$46,335$44,123$42,023$40,030$38,139$31,492
6 years$38,225$36,030$33,961$32,013$30,178$23,862
7 years$32,435$30,258$28,222$26,319$24,543$18,556
8 years$28,094$25,936$23,934$22,079$20,361$14,700
9 years$24,720$22,582$20,614$18,806$17,147$11,805
10 years$22,022$19,905$17,972$16,211$14,610$9,579
11 years$19,816$17,720$15,822$14,108$12,565$7,835
12 years$17,979$15,905$14,042$12,375$10,889$6,450
13 years$16,425$14,373$12,546$10,925$9,495$5,337
14 years$15,095$13,065$11,272$9,698$8,323$4,433
15 years$13,944$11,935$10,177$8,649$7,329$3,696
16 years$12,937$10,950$9,227$7,744$6,477$3,089
17 years$12,049$10,085$8,396$6,958$5,743$2,588
18 years$11,261$9,319$7,665$6,271$5,106$2,172
19 years$10,557$8,637$7,017$5,666$4,551$1,826
20 years$9,924$8,025$6,440$5,132$4,065$1,537
21 years$9,352$7,475$5,923$4,657$3,638$1,295
22 years$8,833$6,978$5,459$4,235$3,261$1,092
23 years$8,360$6,526$5,041$3,857$2,927$922
24 years$7,926$6,115$4,662$3,517$2,631$778
25 years$7,528$5,738$4,318$3,212$2,368$658
26 years$7,161$5,393$4,004$2,937$2,133$556
27 years$6,822$5,076$3,718$2,688$1,923$470
28 years$6,508$4,783$3,457$2,463$1,735$398
29 years$6,216$4,512$3,217$2,259$1,567$337
30 years$5,944$4,261$2,996$2,073$1,416$285
31 years$5,690$4,028$2,793$1,904$1,280$241
32 years$5,452$3,811$2,606$1,750$1,158$204
33 years$5,229$3,609$2,434$1,609$1,048$173
34 years$5,020$3,421$2,274$1,480$949$146
35 years$4,823$3,245$2,126$1,363$859$124
36 years$4,638$3,080$1,989$1,255$778$105
37 years$4,463$2,925$1,861$1,156$706$89
38 years$4,297$2,780$1,743$1,066$640$75
39 years$4,140$2,643$1,633$983$580$64
40 years$3,992$2,515$1,531$907$526$54
41 years$3,851$2,394$1,435$836$477$46
42 years$3,718$2,280$1,346$772$433$39
43 years$3,590$2,172$1,263$713$393$33
44 years$3,469$2,071$1,186$658$357$28
45 years$3,354$1,975$1,113$608$324$24
46 years$3,244$1,884$1,046$561$294$20
47 years$3,139$1,798$983$519$267$17
48 years$3,039$1,716$923$479$243$14
49 years$2,943$1,639$868$443$220$12
50 years$2,851$1,565$816$409$200$10

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 $5,432 every year, while hoping to spend $42,998 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: 63/14/23 Blend
54$2,920,000$2,920,000$2,920,000$2,920,000
55$3,223,443$3,068,683$3,023,423$3,406,816
56$3,506,485$3,173,299$3,078,958$3,635,933
57$3,816,956$3,281,600$3,134,913$3,880,800
58$4,157,608$3,393,721$3,191,255$4,147,277
59$4,531,473$3,509,803$3,247,952$4,437,483
60$4,941,892$3,629,991$3,304,966$4,753,748
61$5,392,541$3,754,437$3,362,259$5,098,639
62$5,887,474$3,883,298$3,419,788$5,474,983
63$6,431,154$4,016,738$3,477,509$5,885,893
64$7,028,499$4,154,925$3,535,372$6,334,795
65$7,684,926$4,298,037$3,593,328$6,825,466
66$8,406,403$4,446,256$3,651,319$7,362,061
67$9,199,507$4,599,772$3,709,289$7,949,161
68$10,071,479$4,758,784$3,767,173$8,591,808
69$11,030,302$4,923,497$3,824,905$9,295,558
70$12,084,769$5,094,123$3,882,415$10,066,531
71$13,244,566$5,270,886$3,939,626$10,911,466
72$14,520,367$5,454,016$3,996,460$11,837,789
73$15,923,934$5,643,751$4,052,830$12,853,679
74$17,468,222$5,840,343$4,108,647$13,968,149
75$19,167,510$6,044,048$4,163,816$15,191,125
76$21,037,527$6,255,137$4,218,235$16,533,544
77$23,095,606$6,473,891$4,271,797$18,007,455
78$25,360,845$6,700,598$4,324,389$19,626,134
79$27,854,287$6,935,564$4,375,893$21,404,205
80$30,599,120$7,179,102$4,426,180$23,357,784
81$33,620,891$7,431,539$4,475,119$25,504,624
82$36,947,755$7,693,217$4,522,567$27,864,288
83$40,610,730$7,964,489$4,568,378$30,458,328
84$44,644,000$8,245,724$4,612,394$33,310,493
85$49,085,229$8,537,306$4,654,450$36,446,950
86$53,975,921$8,839,632$4,694,373$39,896,531
87$59,361,809$9,153,119$4,731,979$43,691,003
88$65,293,289$9,478,197$4,767,075$47,865,373
89$71,825,891$9,815,316$4,799,460$52,458,212
90$79,020,809$10,164,943$4,828,918$57,512,020
91$86,945,472$10,527,566$4,855,228$63,073,631
92$95,674,184$10,903,690$4,878,151$69,194,650
93$105,288,823$11,293,843$4,897,441$75,931,939
94$115,879,615$11,698,573$4,912,837$83,348,159
95$127,545,984$12,118,452$4,924,066$91,512,354
96$140,397,493$12,554,075$4,930,841$100,500,609
97$154,554,873$13,006,060$4,932,860$110,396,763
98$170,151,166$13,475,053$4,929,807$121,293,201
99$187,332,979$13,961,725$4,921,350$133,291,727
100$206,261,869$14,466,775$4,907,141$146,504,523