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

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$243,608$241,438$239,321$237,255$235,237$228,808
2 years$120,598$118,352$116,175$114,065$112,018$105,588
3 years$79,600$77,344$75,173$73,082$71,069$64,839
4 years$59,105$56,856$54,707$52,652$50,687$44,705
5 years$46,811$44,576$42,455$40,442$38,531$32,814
6 years$38,618$36,400$34,310$32,341$30,488$25,041
7 years$32,768$30,568$28,512$26,590$24,795$19,618
8 years$28,383$26,203$24,180$22,305$20,570$15,660
9 years$24,974$22,814$20,826$18,999$17,323$12,675
10 years$22,248$20,110$18,157$16,378$14,760$10,369
11 years$20,019$17,902$15,985$14,253$12,694$8,553
12 years$18,163$16,068$14,186$12,502$11,000$7,102
13 years$16,594$14,521$12,674$11,038$9,593$5,928
14 years$15,250$13,199$11,388$9,798$8,409$4,969
15 years$14,087$12,058$10,282$8,738$7,404$4,180
16 years$13,070$11,063$9,322$7,824$6,544$3,527
17 years$12,173$10,188$8,483$7,030$5,802$2,983
18 years$11,377$9,414$7,744$6,335$5,159$2,528
19 years$10,666$8,725$7,089$5,724$4,598$2,146
20 years$10,026$8,108$6,506$5,185$4,107$1,824
21 years$9,448$7,552$5,984$4,705$3,675$1,552
22 years$8,924$7,050$5,515$4,278$3,295$1,323
23 years$8,445$6,593$5,092$3,896$2,957$1,128
24 years$8,008$6,178$4,710$3,554$2,658$962
25 years$7,606$5,797$4,362$3,245$2,392$822
26 years$7,235$5,449$4,046$2,967$2,155$702
27 years$6,892$5,128$3,757$2,716$1,943$600
28 years$6,575$4,832$3,492$2,489$1,753$513
29 years$6,280$4,558$3,250$2,282$1,583$439
30 years$6,005$4,305$3,027$2,094$1,430$375
31 years$5,748$4,070$2,822$1,923$1,293$321
32 years$5,508$3,851$2,633$1,768$1,170$275
33 years$5,283$3,647$2,459$1,626$1,058$235
34 years$5,072$3,456$2,297$1,496$958$201
35 years$4,873$3,278$2,148$1,377$868$172
36 years$4,685$3,111$2,009$1,268$786$148
37 years$4,508$2,955$1,880$1,168$713$126
38 years$4,341$2,808$1,761$1,077$646$108
39 years$4,183$2,671$1,650$993$586$93
40 years$4,033$2,541$1,546$916$531$79
41 years$3,891$2,419$1,450$845$482$68
42 years$3,756$2,303$1,360$780$438$58
43 years$3,627$2,195$1,276$720$397$50
44 years$3,505$2,092$1,198$665$360$43
45 years$3,388$1,995$1,125$614$327$37
46 years$3,277$1,903$1,057$567$297$31
47 years$3,171$1,816$993$524$270$27
48 years$3,070$1,734$933$484$245$23
49 years$2,973$1,656$877$447$223$20
50 years$2,880$1,581$824$414$202$17

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 $3,055 every year, while hoping to spend $58,060 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: 59/15/26 Blend
54$2,950,000$2,950,000$2,950,000$2,950,000
55$3,254,051$3,097,701$3,051,976$3,422,999
56$3,524,189$3,187,713$3,092,442$3,628,624
57$3,819,935$3,280,190$3,132,318$3,846,326
58$4,143,840$3,375,191$3,171,522$4,082,559
59$4,498,713$3,472,776$3,209,969$4,339,134
60$4,887,647$3,573,007$3,247,568$4,618,049
61$5,314,049$3,675,947$3,284,224$4,921,502
62$5,781,672$3,781,659$3,319,835$5,251,917
63$6,294,649$3,890,206$3,354,296$5,611,963
64$6,857,531$4,001,654$3,387,493$6,004,579
65$7,475,334$4,116,070$3,419,309$6,433,005
66$8,153,580$4,233,520$3,449,618$6,900,808
67$8,898,354$4,354,071$3,478,289$7,411,920
68$9,716,357$4,477,791$3,505,183$7,970,673
69$10,614,974$4,604,751$3,530,155$8,581,838
70$11,602,337$4,735,020$3,553,051$9,250,674
71$12,687,408$4,868,668$3,573,710$9,982,975
72$13,880,057$5,005,766$3,591,962$10,785,125
73$15,191,160$5,146,386$3,607,630$11,664,158
74$16,632,698$5,290,599$3,620,526$12,627,826
75$18,217,873$5,438,478$3,630,453$13,684,670
76$19,961,228$5,590,095$3,637,205$14,844,104
77$21,878,786$5,745,523$3,640,565$16,116,497
78$23,988,203$5,904,835$3,640,305$17,513,280
79$26,308,931$6,068,103$3,636,186$19,047,048
80$28,862,402$6,235,400$3,627,959$20,731,680
81$31,672,231$6,406,798$3,615,359$22,582,471
82$34,764,437$6,582,370$3,598,112$24,616,275
83$38,167,690$6,762,186$3,575,929$26,851,667
84$41,913,578$6,946,317$3,548,507$29,309,116
85$46,036,910$7,134,834$3,515,529$32,011,180
86$50,576,039$7,327,805$3,476,663$34,982,715
87$55,573,225$7,525,297$3,431,560$38,251,117
88$61,075,034$7,727,376$3,379,858$41,846,576
89$67,132,777$7,934,108$3,321,173$45,802,360
90$73,802,996$8,145,555$3,255,108$50,155,134
91$81,147,991$8,361,776$3,181,244$54,945,303
92$89,236,414$8,582,831$3,099,143$60,217,395
93$98,143,913$8,808,775$3,008,349$66,020,481
94$107,953,846$9,039,659$2,908,383$72,408,639
95$118,758,069$9,275,533$2,798,745$79,441,464
96$130,657,800$9,516,442$2,678,911$87,184,635
97$143,764,576$9,762,428$2,548,334$95,710,530
98$158,201,303$10,013,527$2,406,443$105,098,913
99$174,103,417$10,269,771$2,252,640$115,437,687
100$191,620,162$10,531,186$2,086,301$126,823,724