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

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$241,957$239,801$237,699$235,646$233,642$226,254
2 years$119,781$117,550$115,388$113,292$111,258$103,881
3 years$79,060$76,820$74,664$72,587$70,587$63,453
4 years$58,704$56,471$54,336$52,295$50,343$43,507
5 years$46,494$44,274$42,167$40,167$38,270$31,750
6 years$38,356$36,153$34,077$32,122$30,282$24,084
7 years$32,546$30,361$28,318$26,409$24,627$18,750
8 years$28,190$26,025$24,016$22,154$20,431$14,871
9 years$24,804$22,660$20,685$18,870$17,206$11,957
10 years$22,097$19,973$18,034$16,267$14,660$9,714
11 years$19,884$17,781$15,877$14,157$12,608$7,956
12 years$18,040$15,959$14,090$12,417$10,926$6,558
13 years$16,482$14,423$12,589$10,963$9,528$5,434
14 years$15,147$13,110$11,311$9,731$8,352$4,520
15 years$13,991$11,976$10,212$8,679$7,354$3,773
16 years$12,981$10,988$9,259$7,771$6,499$3,159
17 years$12,091$10,119$8,425$6,982$5,763$2,650
18 years$11,300$9,351$7,691$6,292$5,124$2,227
19 years$10,593$8,666$7,041$5,686$4,567$1,875
20 years$9,958$8,053$6,462$5,149$4,079$1,581
21 years$9,384$7,501$5,944$4,673$3,651$1,334
22 years$8,863$7,002$5,478$4,249$3,272$1,127
23 years$8,388$6,549$5,058$3,870$2,937$952
24 years$7,953$6,136$4,678$3,530$2,640$806
25 years$7,554$5,758$4,332$3,223$2,376$682
26 years$7,186$5,412$4,018$2,947$2,140$577
27 years$6,846$5,093$3,731$2,698$1,929$489
28 years$6,530$4,799$3,469$2,472$1,741$414
29 years$6,237$4,527$3,228$2,267$1,572$351
30 years$5,964$4,276$3,007$2,080$1,420$298
31 years$5,709$4,042$2,803$1,910$1,284$252
32 years$5,471$3,824$2,615$1,756$1,162$214
33 years$5,247$3,622$2,442$1,615$1,051$182
34 years$5,037$3,433$2,282$1,486$952$154
35 years$4,840$3,256$2,133$1,368$862$131
36 years$4,654$3,090$1,995$1,259$781$111
37 years$4,478$2,935$1,868$1,160$708$94
38 years$4,312$2,789$1,749$1,070$642$80
39 years$4,155$2,652$1,639$986$582$68
40 years$4,006$2,524$1,536$910$528$58
41 years$3,865$2,402$1,440$839$479$49
42 years$3,730$2,288$1,351$775$435$41
43 years$3,603$2,180$1,268$715$394$35
44 years$3,481$2,078$1,190$660$358$30
45 years$3,366$1,981$1,117$610$325$25
46 years$3,255$1,890$1,049$563$295$22
47 years$3,150$1,804$986$520$268$18
48 years$3,049$1,722$926$481$243$15
49 years$2,953$1,644$871$444$221$13
50 years$2,861$1,571$819$411$201$11

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 $6,826 every year, while hoping to spend $54,393 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: 60/22/18 Blend
54$2,930,000$2,930,000$2,930,000$2,930,000
55$3,235,901$3,080,611$3,035,196$3,414,609
56$3,508,089$3,173,687$3,079,001$3,629,273
57$3,806,218$3,269,501$3,122,451$3,856,733
58$4,132,875$3,368,130$3,165,476$4,103,631
59$4,490,911$3,469,651$3,208,003$4,371,856
60$4,883,466$3,574,146$3,249,953$4,663,489
61$5,313,998$3,681,698$3,291,245$4,980,820
62$5,786,316$3,792,391$3,331,791$5,326,371
63$6,304,614$3,906,312$3,371,500$5,702,919
64$6,873,513$4,023,550$3,410,274$6,113,521
65$7,498,104$4,144,196$3,448,011$6,561,546
66$8,183,993$4,268,344$3,484,602$7,050,701
67$8,937,357$4,396,090$3,519,932$7,585,073
68$9,764,999$4,527,530$3,553,882$8,169,160
69$10,674,417$4,662,767$3,586,325$8,807,918
70$11,673,866$4,801,901$3,617,126$9,506,806
71$12,772,445$4,945,039$3,646,144$10,271,838
72$13,980,176$5,092,288$3,673,232$11,109,638
73$15,308,102$5,243,758$3,698,233$12,027,503
74$16,768,387$5,399,561$3,720,982$13,033,473
75$18,374,436$5,559,812$3,741,308$14,136,405
76$20,141,015$5,724,629$3,759,029$15,346,056
77$22,084,395$5,894,133$3,773,953$16,673,178
78$24,222,504$6,068,446$3,785,881$18,129,615
79$26,575,093$6,247,693$3,794,601$19,728,417
80$29,163,925$6,432,003$3,799,893$21,483,963
81$32,012,981$6,621,507$3,801,526$23,412,096
82$35,148,683$6,816,338$3,799,254$25,530,270
83$38,600,142$7,016,633$3,792,823$27,857,722
84$42,399,439$7,222,530$3,781,965$30,415,642
85$46,581,920$7,434,172$3,766,398$33,227,384
86$51,186,532$7,651,703$3,745,829$36,318,679
87$56,256,193$7,875,271$3,719,949$39,717,880
88$61,838,191$8,105,025$3,688,433$43,456,229
89$67,984,634$8,341,119$3,650,944$47,568,152
90$74,752,941$8,583,709$3,607,125$52,091,586
91$82,206,383$8,832,953$3,556,606$57,068,333
92$90,414,679$9,089,012$3,498,996$62,544,455
93$99,454,652$9,352,049$3,433,889$68,570,711
94$109,410,960$9,622,233$3,360,858$75,203,037
95$120,376,887$9,899,731$3,279,455$82,503,068
96$132,455,228$10,184,717$3,189,215$90,538,725
97$145,759,256$10,477,363$3,089,649$99,384,855
98$160,413,793$10,777,847$2,980,246$109,123,936
99$176,556,387$11,086,348$2,860,471$119,846,856
100$194,338,607$11,403,048$2,729,766$131,653,773