Can I retire at age 55 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$241,957$239,801$237,699$235,646$233,642$232,462
2 years$119,781$117,550$115,388$113,292$111,258$110,067
3 years$79,060$76,820$74,664$72,587$70,587$69,422
4 years$58,704$56,471$54,336$52,295$50,343$49,213
5 years$46,494$44,274$42,167$40,167$38,270$37,178
6 years$38,356$36,153$34,077$32,122$30,282$29,230
7 years$32,546$30,361$28,318$26,409$24,627$23,615
8 years$28,190$26,025$24,016$22,154$20,431$19,459
9 years$24,804$22,660$20,685$18,870$17,206$16,274
10 years$22,097$19,973$18,034$16,267$14,660$13,768
11 years$19,884$17,781$15,877$14,157$12,608$11,755
12 years$18,040$15,959$14,090$12,417$10,926$10,112
13 years$16,482$14,423$12,589$10,963$9,528$8,751
14 years$15,147$13,110$11,311$9,731$8,352$7,612
15 years$13,991$11,976$10,212$8,679$7,354$6,649
16 years$12,981$10,988$9,259$7,771$6,499$5,830
17 years$12,091$10,119$8,425$6,982$5,763$5,127
18 years$11,300$9,351$7,691$6,292$5,124$4,521
19 years$10,593$8,666$7,041$5,686$4,567$3,996
20 years$9,958$8,053$6,462$5,149$4,079$3,538
21 years$9,384$7,501$5,944$4,673$3,651$3,139
22 years$8,863$7,002$5,478$4,249$3,272$2,789
23 years$8,388$6,549$5,058$3,870$2,937$2,481
24 years$7,953$6,136$4,678$3,530$2,640$2,210
25 years$7,554$5,758$4,332$3,223$2,376$1,971
26 years$7,186$5,412$4,018$2,947$2,140$1,759
27 years$6,846$5,093$3,731$2,698$1,929$1,571
28 years$6,530$4,799$3,469$2,472$1,741$1,404
29 years$6,237$4,527$3,228$2,267$1,572$1,256
30 years$5,964$4,276$3,007$2,080$1,420$1,124
31 years$5,709$4,042$2,803$1,910$1,284$1,006
32 years$5,471$3,824$2,615$1,756$1,162$902
33 years$5,247$3,622$2,442$1,615$1,051$808
34 years$5,037$3,433$2,282$1,486$952$724
35 years$4,840$3,256$2,133$1,368$862$650
36 years$4,654$3,090$1,995$1,259$781$583
37 years$4,478$2,935$1,868$1,160$708$523
38 years$4,312$2,789$1,749$1,070$642$469
39 years$4,155$2,652$1,639$986$582$421
40 years$4,006$2,524$1,536$910$528$378
41 years$3,865$2,402$1,440$839$479$340
42 years$3,730$2,288$1,351$775$435$305
43 years$3,603$2,180$1,268$715$394$274
44 years$3,481$2,078$1,190$660$358$246
45 years$3,366$1,981$1,117$610$325$221
46 years$3,255$1,890$1,049$563$295$199
47 years$3,150$1,804$986$520$268$178
48 years$3,049$1,722$926$481$243$160
49 years$2,953$1,644$871$444$221$144
50 years$2,861$1,571$819$411$201$130

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,930,000, adding $3,896 every year, while hoping to spend $44,503 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: 68/6/26 Blend
54$2,930,000$2,930,000$2,930,000$2,930,000
55$3,232,879$3,077,589$3,032,174$3,430,743
56$3,515,282$3,181,040$3,086,401$3,667,609
57$3,824,998$3,288,068$3,140,953$3,921,214
58$4,164,767$3,398,803$3,195,794$4,197,653
59$4,537,605$3,513,376$3,250,885$4,499,187
60$4,946,836$3,631,927$3,306,185$4,828,302
61$5,396,119$3,754,598$3,361,648$5,187,738
62$5,889,488$3,881,538$3,417,228$5,580,515
63$6,431,384$4,012,901$3,472,874$6,009,956
64$7,026,701$4,148,848$3,528,530$6,479,724
65$7,680,827$4,289,545$3,584,139$6,993,854
66$8,399,703$4,435,164$3,639,639$7,556,789
67$9,189,871$4,585,885$3,694,965$8,173,427
68$10,058,537$4,741,893$3,750,046$8,849,161
69$11,013,644$4,903,382$3,804,808$9,589,934
70$12,063,939$5,070,551$3,859,173$10,402,294
71$13,219,062$5,243,609$3,913,056$11,293,454
72$14,489,632$5,422,771$3,966,369$12,271,363
73$15,887,350$5,608,263$4,019,018$13,344,778
74$17,425,109$5,800,317$4,070,904$14,523,348
75$19,117,112$5,999,175$4,121,922$15,817,704
76$20,979,011$6,205,088$4,171,959$17,239,560
77$23,028,050$6,418,317$4,220,900$18,801,824
78$25,283,230$6,639,133$4,268,619$20,518,718
79$27,765,488$6,867,819$4,314,986$22,405,915
80$30,497,892$7,104,667$4,359,863$24,480,681
81$33,505,861$7,349,980$4,403,103$26,762,047
82$36,817,405$7,604,075$4,444,552$29,270,978
83$40,463,386$7,867,279$4,484,050$32,030,580
84$44,477,810$8,139,935$4,521,425$35,066,313
85$48,898,151$8,422,397$4,556,497$38,406,230
86$53,765,701$8,715,032$4,589,078$42,081,247
87$59,125,959$9,018,225$4,618,968$46,125,431
88$65,029,062$9,332,374$4,645,959$50,576,322
89$71,530,257$9,657,891$4,669,830$55,475,286
90$78,690,424$9,995,208$4,690,350$60,867,909
91$86,576,647$10,344,773$4,707,276$66,804,426
92$95,262,847$10,707,049$4,720,352$73,340,190
93$104,830,485$11,082,522$4,729,311$80,536,204
94$115,369,323$11,471,694$4,733,871$88,459,688
95$126,978,275$11,875,088$4,733,738$97,184,719
96$139,766,341$12,293,249$4,728,600$106,792,927
97$153,853,632$12,726,743$4,718,132$117,374,269
98$169,372,508$13,176,159$4,701,995$129,027,875
99$186,468,822$13,642,109$4,679,830$141,862,984
100$205,303,299$14,125,230$4,651,262$155,999,978