Can I retire at age 55 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$243,608$241,438$239,321$237,255$235,237$233,169
2 years$120,598$118,352$116,175$114,065$112,018$109,933
3 years$79,600$77,344$75,173$73,082$71,069$69,033
4 years$59,105$56,856$54,707$52,652$50,687$48,716
5 years$46,811$44,576$42,455$40,442$38,531$36,630
6 years$38,618$36,400$34,310$32,341$30,488$28,660
7 years$32,768$30,568$28,512$26,590$24,795$23,040
8 years$28,383$26,203$24,180$22,305$20,570$18,888
9 years$24,974$22,814$20,826$18,999$17,323$15,714
10 years$22,248$20,110$18,157$16,378$14,760$13,223
11 years$20,019$17,902$15,985$14,253$12,694$11,228
12 years$18,163$16,068$14,186$12,502$11,000$9,603
13 years$16,594$14,521$12,674$11,038$9,593$8,263
14 years$15,250$13,199$11,388$9,798$8,409$7,145
15 years$14,087$12,058$10,282$8,738$7,404$6,204
16 years$13,070$11,063$9,322$7,824$6,544$5,406
17 years$12,173$10,188$8,483$7,030$5,802$4,725
18 years$11,377$9,414$7,744$6,335$5,159$4,140
19 years$10,666$8,725$7,089$5,724$4,598$3,636
20 years$10,026$8,108$6,506$5,185$4,107$3,199
21 years$9,448$7,552$5,984$4,705$3,675$2,819
22 years$8,924$7,050$5,515$4,278$3,295$2,488
23 years$8,445$6,593$5,092$3,896$2,957$2,198
24 years$8,008$6,178$4,710$3,554$2,658$1,945
25 years$7,606$5,797$4,362$3,245$2,392$1,722
26 years$7,235$5,449$4,046$2,967$2,155$1,526
27 years$6,892$5,128$3,757$2,716$1,943$1,353
28 years$6,575$4,832$3,492$2,489$1,753$1,201
29 years$6,280$4,558$3,250$2,282$1,583$1,067
30 years$6,005$4,305$3,027$2,094$1,430$948
31 years$5,748$4,070$2,822$1,923$1,293$842
32 years$5,508$3,851$2,633$1,768$1,170$749
33 years$5,283$3,647$2,459$1,626$1,058$666
34 years$5,072$3,456$2,297$1,496$958$593
35 years$4,873$3,278$2,148$1,377$868$528
36 years$4,685$3,111$2,009$1,268$786$470
37 years$4,508$2,955$1,880$1,168$713$418
38 years$4,341$2,808$1,761$1,077$646$373
39 years$4,183$2,671$1,650$993$586$332
40 years$4,033$2,541$1,546$916$531$296
41 years$3,891$2,419$1,450$845$482$263
42 years$3,756$2,303$1,360$780$438$235
43 years$3,627$2,195$1,276$720$397$209
44 years$3,505$2,092$1,198$665$360$186
45 years$3,388$1,995$1,125$614$327$166
46 years$3,277$1,903$1,057$567$297$148
47 years$3,171$1,816$993$524$270$132
48 years$3,070$1,734$933$484$245$118
49 years$2,973$1,656$877$447$223$105
50 years$2,880$1,581$824$414$202$94

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,950,000, adding $5,695 every year, while hoping to spend $48,693 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: 68/16/16 Blend
54$2,950,000$2,950,000$2,950,000$2,950,000
55$3,256,774$3,100,424$3,054,699$3,465,512
56$3,537,156$3,200,536$3,105,223$3,705,539
57$3,844,505$3,303,922$3,155,807$3,961,705
58$4,181,521$3,410,689$3,206,402$4,240,676
59$4,551,175$3,520,952$3,256,956$4,544,690
60$4,956,743$3,634,827$3,307,412$4,876,210
61$5,401,831$3,752,434$3,357,711$5,237,951
62$5,890,413$3,873,898$3,407,789$5,632,899
63$6,426,864$3,999,349$3,457,579$6,064,345
64$7,016,006$4,128,918$3,507,009$6,535,913
65$7,663,148$4,262,745$3,556,004$7,051,591
66$8,374,142$4,400,972$3,604,482$7,615,776
67$9,155,431$4,543,746$3,652,360$8,233,307
68$10,014,117$4,691,221$3,699,545$8,909,516
69$10,958,020$4,843,555$3,745,944$9,650,275
70$11,995,760$5,000,911$3,791,454$10,462,053
71$13,136,829$5,163,457$3,835,970$11,351,976
72$14,391,689$5,331,370$3,879,378$12,327,893
73$15,771,864$5,504,830$3,921,560$13,398,451
74$17,290,052$5,684,024$3,962,390$14,573,176
75$18,960,243$5,869,147$4,001,736$15,862,563
76$20,797,851$6,060,399$4,039,458$17,278,173
77$22,819,861$6,257,988$4,075,409$18,832,746
78$25,044,986$6,462,128$4,109,434$20,540,313
79$27,493,845$6,673,043$4,141,370$22,416,337
80$30,189,157$6,890,961$4,171,046$24,477,854
81$33,155,955$7,116,123$4,198,280$26,743,632
82$36,421,823$7,348,774$4,222,883$29,234,352
83$40,017,155$7,589,169$4,244,655$31,972,799
84$43,975,440$7,837,573$4,263,386$34,984,081
85$48,333,581$8,094,260$4,278,856$38,295,859
86$53,132,240$8,359,513$4,290,832$41,938,614
87$58,416,225$8,633,626$4,299,071$45,945,932
88$64,234,908$8,916,902$4,303,318$50,354,819
89$70,642,693$9,209,655$4,303,304$55,206,055
90$77,699,532$9,512,211$4,298,748$60,544,570
91$85,471,483$9,824,909$4,289,355$66,419,876
92$94,031,341$10,148,096$4,274,816$72,886,530
93$103,459,321$10,482,136$4,254,805$80,004,648
94$113,843,812$10,827,401$4,228,982$87,840,474
95$125,282,219$11,184,282$4,196,990$96,467,006
96$137,881,873$11,553,179$4,158,457$105,964,678
97$151,761,049$11,934,510$4,112,990$116,422,127
98$167,050,080$12,328,705$4,060,180$127,937,025
99$183,892,589$12,736,213$3,999,597$140,617,001
100$202,446,841$13,157,495$3,930,791$154,580,657