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%17.7%
1 years$244,434$242,257$240,132$238,059$236,035$228,662
2 years$121,007$118,753$116,569$114,451$112,397$105,035
3 years$79,870$77,607$75,428$73,330$71,310$64,189
4 years$59,306$57,049$54,892$52,830$50,859$44,034
5 years$46,970$44,727$42,599$40,579$38,662$32,152
6 years$38,749$36,523$34,426$32,451$30,592$24,401
7 years$32,879$30,672$28,608$26,680$24,879$19,009
8 years$28,479$26,292$24,262$22,381$20,640$15,085
9 years$25,058$22,892$20,897$19,064$17,382$12,136
10 years$22,323$20,178$18,218$16,433$14,810$9,866
11 years$20,087$17,963$16,039$14,302$12,737$8,086
12 years$18,225$16,123$14,234$12,545$11,038$6,670
13 years$16,650$14,570$12,717$11,075$9,625$5,530
14 years$15,302$13,244$11,427$9,831$8,437$4,603
15 years$14,135$12,099$10,317$8,768$7,429$3,845
16 years$13,114$11,100$9,354$7,850$6,566$3,221
17 years$12,214$10,223$8,511$7,054$5,822$2,704
18 years$11,416$9,446$7,770$6,357$5,176$2,275
19 years$10,702$8,755$7,113$5,744$4,614$1,916
20 years$10,060$8,135$6,528$5,202$4,121$1,617
21 years$9,480$7,578$6,004$4,721$3,688$1,365
22 years$8,954$7,074$5,534$4,293$3,306$1,154
23 years$8,474$6,616$5,110$3,909$2,967$976
24 years$8,035$6,199$4,726$3,566$2,667$827
25 years$7,631$5,817$4,377$3,256$2,400$700
26 years$7,260$5,467$4,059$2,977$2,162$593
27 years$6,916$5,145$3,769$2,725$1,949$503
28 years$6,597$4,848$3,504$2,497$1,759$427
29 years$6,301$4,574$3,261$2,290$1,588$362
30 years$6,025$4,319$3,037$2,101$1,435$307
31 years$5,768$4,083$2,832$1,930$1,297$261
32 years$5,527$3,864$2,642$1,774$1,173$221
33 years$5,301$3,659$2,467$1,631$1,062$188
34 years$5,089$3,468$2,305$1,501$962$159
35 years$4,889$3,289$2,155$1,382$871$135
36 years$4,701$3,122$2,016$1,272$789$115
37 years$4,524$2,965$1,887$1,172$715$98
38 years$4,356$2,818$1,767$1,081$648$83
39 years$4,197$2,680$1,655$996$588$70
40 years$4,047$2,549$1,552$919$533$60
41 years$3,904$2,427$1,455$848$484$51
42 years$3,769$2,311$1,365$782$439$43
43 years$3,640$2,202$1,281$722$398$37
44 years$3,517$2,099$1,202$667$362$31
45 years$3,400$2,002$1,129$616$328$26
46 years$3,288$1,909$1,060$569$298$22
47 years$3,182$1,822$996$526$271$19
48 years$3,080$1,740$936$486$246$16
49 years$2,983$1,661$880$449$223$14
50 years$2,890$1,587$827$415$203$12

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 $4,352 every year, while hoping to spend $36,850 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: 57/23/20 Blend
54$2,960,000$2,960,000$2,960,000$2,960,000
55$3,266,409$3,109,529$3,063,649$3,434,913
56$3,560,375$3,222,688$3,127,073$3,663,302
57$3,883,090$3,340,156$3,191,387$3,907,741
58$4,237,448$3,462,107$3,256,581$4,173,323
59$4,626,636$3,588,719$3,322,646$4,462,091
60$5,054,166$3,720,180$3,389,568$4,776,294
61$5,523,907$3,856,683$3,457,333$5,118,404
62$6,040,118$3,998,434$3,525,927$5,491,145
63$6,607,495$4,145,642$3,595,330$5,897,514
64$7,231,210$4,298,530$3,665,525$6,340,807
65$7,916,962$4,457,325$3,736,488$6,824,656
66$8,671,027$4,622,269$3,808,195$7,353,057
67$9,500,323$4,793,612$3,880,621$7,930,409
68$10,412,469$4,971,612$3,953,735$8,561,556
69$11,415,863$5,156,543$4,027,507$9,251,831
70$12,519,755$5,348,688$4,101,902$10,007,107
71$13,734,337$5,548,340$4,176,883$10,833,848
72$15,070,839$5,755,809$4,252,409$11,739,176
73$16,541,637$5,971,416$4,328,437$12,730,931
74$18,160,363$6,195,494$4,404,918$13,817,749
75$19,942,041$6,428,394$4,481,804$15,009,141
76$21,903,224$6,670,480$4,559,039$16,315,580
77$24,062,150$6,922,131$4,636,565$17,748,603
78$26,438,919$7,183,745$4,714,319$19,320,918
79$29,055,674$7,455,734$4,792,234$21,046,521
80$31,936,818$7,738,530$4,870,239$22,940,828
81$35,109,238$8,032,583$4,948,257$25,020,823
82$38,602,564$8,338,363$5,026,207$27,305,212
83$42,449,443$8,656,361$5,104,002$29,814,605
84$46,685,850$8,987,086$5,181,550$32,571,702
85$51,351,428$9,331,074$5,258,753$35,601,514
86$56,489,858$9,688,882$5,335,506$38,931,592
87$62,149,277$10,061,090$5,411,699$42,592,289
88$68,382,726$10,448,306$5,487,214$46,617,046
89$75,248,655$10,851,164$5,561,926$51,042,705
90$82,811,472$11,270,325$5,635,705$55,909,855
91$91,142,151$11,706,480$5,708,410$61,263,217
92$100,318,902$12,160,350$5,779,894$67,152,061
93$110,427,910$12,632,687$5,850,000$73,630,672
94$121,564,146$13,124,277$5,918,564$80,758,862
95$133,832,265$13,635,943$5,985,411$88,602,530
96$147,347,591$14,168,540$6,050,358$97,234,286
97$162,237,211$14,722,963$6,113,211$106,734,135
98$178,641,167$15,300,149$6,173,764$117,190,225
99$196,713,784$15,901,074$6,231,802$128,699,685
100$216,625,120$16,526,757$6,287,098$141,369,537