Can I retire at age 55 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$244,434$242,257$240,132$238,059$236,035$230,048
2 years$121,007$118,753$116,569$114,451$112,397$106,405
3 years$79,870$77,607$75,428$73,330$71,310$65,499
4 years$59,306$57,049$54,892$52,830$50,859$45,274
5 years$46,970$44,727$42,599$40,579$38,662$33,319
6 years$38,749$36,523$34,426$32,451$30,592$25,496
7 years$32,879$30,672$28,608$26,680$24,879$20,031
8 years$28,479$26,292$24,262$22,381$20,640$16,037
9 years$25,058$22,892$20,897$19,064$17,382$13,020
10 years$22,323$20,178$18,218$16,433$14,810$10,684
11 years$20,087$17,963$16,039$14,302$12,737$8,841
12 years$18,225$16,123$14,234$12,545$11,038$7,365
13 years$16,650$14,570$12,717$11,075$9,625$6,168
14 years$15,302$13,244$11,427$9,831$8,437$5,189
15 years$14,135$12,099$10,317$8,768$7,429$4,380
16 years$13,114$11,100$9,354$7,850$6,566$3,709
17 years$12,214$10,223$8,511$7,054$5,822$3,148
18 years$11,416$9,446$7,770$6,357$5,176$2,678
19 years$10,702$8,755$7,113$5,744$4,614$2,282
20 years$10,060$8,135$6,528$5,202$4,121$1,947
21 years$9,480$7,578$6,004$4,721$3,688$1,663
22 years$8,954$7,074$5,534$4,293$3,306$1,423
23 years$8,474$6,616$5,110$3,909$2,967$1,218
24 years$8,035$6,199$4,726$3,566$2,667$1,043
25 years$7,631$5,817$4,377$3,256$2,400$894
26 years$7,260$5,467$4,059$2,977$2,162$767
27 years$6,916$5,145$3,769$2,725$1,949$658
28 years$6,597$4,848$3,504$2,497$1,759$565
29 years$6,301$4,574$3,261$2,290$1,588$485
30 years$6,025$4,319$3,037$2,101$1,435$417
31 years$5,768$4,083$2,832$1,930$1,297$358
32 years$5,527$3,864$2,642$1,774$1,173$308
33 years$5,301$3,659$2,467$1,631$1,062$265
34 years$5,089$3,468$2,305$1,501$962$227
35 years$4,889$3,289$2,155$1,382$871$196
36 years$4,701$3,122$2,016$1,272$789$168
37 years$4,524$2,965$1,887$1,172$715$145
38 years$4,356$2,818$1,767$1,081$648$124
39 years$4,197$2,680$1,655$996$588$107
40 years$4,047$2,549$1,552$919$533$92
41 years$3,904$2,427$1,455$848$484$79
42 years$3,769$2,311$1,365$782$439$68
43 years$3,640$2,202$1,281$722$398$59
44 years$3,517$2,099$1,202$667$362$50
45 years$3,400$2,002$1,129$616$328$43
46 years$3,288$1,909$1,060$569$298$37
47 years$3,182$1,822$996$526$271$32
48 years$3,080$1,740$936$486$246$28
49 years$2,983$1,661$880$449$223$24
50 years$2,890$1,587$827$415$203$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,960,000, adding $4,509 every year, while hoping to spend $38,281 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: 27/45/28 Blend
54$2,960,000$2,960,000$2,960,000$2,960,000
55$3,266,571$3,109,691$3,063,811$3,326,197
56$3,559,031$3,221,335$3,125,718$3,486,507
57$3,880,038$3,337,167$3,188,416$3,654,917
58$4,232,465$3,457,351$3,251,891$3,834,958
59$4,619,474$3,582,059$3,316,127$4,027,646
60$5,044,550$3,711,469$3,381,107$4,234,098
61$5,511,531$3,845,769$3,446,811$4,455,539
62$6,024,646$3,985,150$3,513,218$4,693,311
63$6,588,554$4,129,816$3,580,304$4,948,891
64$7,208,385$4,279,976$3,648,044$5,223,895
65$7,889,796$4,435,850$3,716,408$5,520,102
66$8,639,014$4,597,666$3,785,367$5,839,465
67$9,462,903$4,765,661$3,854,886$6,184,128
68$10,369,024$4,940,083$3,924,930$6,556,446
69$11,365,707$5,121,190$3,995,458$6,959,011
70$12,462,133$5,309,252$4,066,429$7,394,666
71$13,668,413$5,504,548$4,137,797$7,866,542
72$14,995,690$5,707,370$4,209,512$8,378,076
73$16,456,243$5,918,023$4,281,523$8,933,050
74$18,063,598$6,136,825$4,353,773$9,535,623
75$19,832,661$6,364,105$4,426,200$10,190,369
76$21,779,856$6,600,210$4,498,741$10,902,319
77$23,923,278$6,845,498$4,571,327$11,677,007
78$26,282,870$7,100,344$4,643,883$12,520,521
79$28,880,601$7,365,139$4,716,331$13,439,561
80$31,740,682$7,640,291$4,788,588$14,441,500
81$34,889,791$7,926,224$4,860,565$15,534,448
82$38,357,323$8,223,383$4,932,168$16,727,336
83$42,175,669$8,532,228$5,003,295$18,029,990
84$46,380,523$8,853,243$5,073,841$19,453,226
85$51,011,215$9,186,930$5,143,693$21,008,953
86$56,111,083$9,533,813$5,212,730$22,710,278
87$61,727,884$9,894,441$5,280,828$24,571,634
88$67,914,243$10,269,384$5,347,851$26,608,908
89$74,728,150$10,659,238$5,413,658$28,839,595
90$82,233,505$11,064,624$5,478,099$31,282,960
91$90,500,723$11,486,191$5,541,016$33,960,213
92$99,607,399$11,924,617$5,602,242$36,894,713
93$109,639,037$12,380,606$5,661,600$40,112,185
94$120,689,860$12,854,897$5,718,905$43,640,957
95$132,863,698$13,348,259$5,773,960$47,512,230
96$146,274,966$13,861,495$5,826,559$51,760,367
97$161,049,748$14,395,444$5,876,484$56,423,214
98$177,326,982$14,950,980$5,923,506$61,542,460
99$195,259,773$15,529,017$5,967,383$67,164,021
100$215,016,841$16,130,510$6,007,861$73,338,474