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%14.1%
1 years$243,608$241,438$239,321$237,255$235,237$231,245
2 years$120,598$118,352$116,175$114,065$112,018$108,008
3 years$79,600$77,344$75,173$73,082$71,069$67,166
4 years$59,105$56,856$54,707$52,652$50,687$46,922
5 years$46,811$44,576$42,455$40,442$38,531$34,914
6 years$38,618$36,400$34,310$32,341$30,488$27,024
7 years$32,768$30,568$28,512$26,590$24,795$21,484
8 years$28,383$26,203$24,180$22,305$20,570$17,411
9 years$24,974$22,814$20,826$18,999$17,323$14,315
10 years$22,248$20,110$18,157$16,378$14,760$11,900
11 years$20,019$17,902$15,985$14,253$12,694$9,980
12 years$18,163$16,068$14,186$12,502$11,000$8,428
13 years$16,594$14,521$12,674$11,038$9,593$7,158
14 years$15,250$13,199$11,388$9,798$8,409$6,107
15 years$14,087$12,058$10,282$8,738$7,404$5,232
16 years$13,070$11,063$9,322$7,824$6,544$4,496
17 years$12,173$10,188$8,483$7,030$5,802$3,874
18 years$11,377$9,414$7,744$6,335$5,159$3,346
19 years$10,666$8,725$7,089$5,724$4,598$2,896
20 years$10,026$8,108$6,506$5,185$4,107$2,511
21 years$9,448$7,552$5,984$4,705$3,675$2,180
22 years$8,924$7,050$5,515$4,278$3,295$1,895
23 years$8,445$6,593$5,092$3,896$2,957$1,649
24 years$8,008$6,178$4,710$3,554$2,658$1,436
25 years$7,606$5,797$4,362$3,245$2,392$1,252
26 years$7,235$5,449$4,046$2,967$2,155$1,092
27 years$6,892$5,128$3,757$2,716$1,943$953
28 years$6,575$4,832$3,492$2,489$1,753$832
29 years$6,280$4,558$3,250$2,282$1,583$727
30 years$6,005$4,305$3,027$2,094$1,430$635
31 years$5,748$4,070$2,822$1,923$1,293$556
32 years$5,508$3,851$2,633$1,768$1,170$486
33 years$5,283$3,647$2,459$1,626$1,058$425
34 years$5,072$3,456$2,297$1,496$958$372
35 years$4,873$3,278$2,148$1,377$868$326
36 years$4,685$3,111$2,009$1,268$786$285
37 years$4,508$2,955$1,880$1,168$713$249
38 years$4,341$2,808$1,761$1,077$646$218
39 years$4,183$2,671$1,650$993$586$191
40 years$4,033$2,541$1,546$916$531$168
41 years$3,891$2,419$1,450$845$482$147
42 years$3,756$2,303$1,360$780$438$129
43 years$3,627$2,195$1,276$720$397$113
44 years$3,505$2,092$1,198$665$360$99
45 years$3,388$1,995$1,125$614$327$86
46 years$3,277$1,903$1,057$567$297$76
47 years$3,171$1,816$993$524$270$66
48 years$3,070$1,734$933$484$245$58
49 years$2,973$1,656$877$447$223$51
50 years$2,880$1,581$824$414$202$45

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 $6,170 every year, while hoping to spend $33,503 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: 39/34/27 Blend
54$2,950,000$2,950,000$2,950,000$2,950,000
55$3,257,264$3,100,914$3,055,189$3,357,998
56$3,553,858$3,217,212$3,121,891$3,548,311
57$3,879,582$3,338,086$3,189,705$3,750,408
58$4,237,371$3,463,724$3,258,632$3,968,298
59$4,630,461$3,594,324$3,328,673$4,203,442
60$5,062,412$3,730,090$3,399,829$4,457,445
61$5,537,152$3,871,238$3,472,097$4,732,070
62$6,059,004$4,017,992$3,545,474$5,029,254
63$6,632,732$4,170,583$3,619,957$5,351,127
64$7,263,586$4,329,256$3,695,541$5,700,030
65$7,957,347$4,494,266$3,772,217$6,078,538
66$8,720,388$4,665,876$3,849,978$6,489,480
67$9,559,727$4,844,364$3,928,812$6,935,969
68$10,483,100$5,030,018$4,008,708$7,421,430
69$11,499,028$5,223,141$4,089,651$7,949,628
70$12,616,900$5,424,046$4,171,625$8,524,706
71$13,847,061$5,633,061$4,254,612$9,151,223
72$15,200,911$5,850,531$4,338,591$9,834,194
73$16,691,009$6,076,812$4,423,540$10,579,139
74$18,331,195$6,312,279$4,509,431$11,392,132
75$20,136,718$6,557,321$4,596,237$12,279,858
76$22,124,379$6,812,346$4,683,928$13,249,674
77$24,312,694$7,077,779$4,772,468$14,309,681
78$26,722,063$7,354,065$4,861,820$15,468,794
79$29,374,967$7,641,668$4,951,944$16,736,829
80$32,296,175$7,941,071$5,042,796$18,124,593
81$35,512,983$8,252,781$5,134,327$19,643,984
82$39,055,467$8,577,327$5,226,487$21,308,101
83$42,956,769$8,915,261$5,319,219$23,131,372
84$47,253,410$9,267,159$5,412,463$25,129,679
85$51,985,633$9,633,625$5,506,155$27,320,517
86$57,197,782$10,015,287$5,600,226$29,723,149
87$62,938,723$10,412,803$5,694,601$32,358,790
88$69,262,303$10,826,861$5,789,200$35,250,806
89$76,227,859$11,258,178$5,883,940$38,424,931
90$83,900,777$11,707,505$5,978,728$41,909,509
91$92,353,109$12,175,626$6,073,469$45,735,761
92$101,664,255$12,663,360$6,168,058$49,938,073
93$111,921,708$13,171,564$6,262,387$54,554,323
94$123,221,883$13,701,132$6,356,338$59,626,237
95$135,671,028$14,253,000$6,449,788$65,199,775
96$149,386,222$14,828,146$6,542,605$71,325,569
97$164,496,482$15,427,591$6,634,649$78,059,394
98$181,143,985$16,052,404$6,725,771$85,462,693
99$199,485,402$16,703,703$6,815,815$93,603,156
100$219,693,383$17,382,654$6,904,615$102,555,355