Can I retire at age 55 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$245,260$243,075$240,944$238,863$236,832$231,861
2 years$121,416$119,154$116,963$114,838$112,777$107,792
3 years$80,140$77,869$75,683$73,578$71,550$66,707
4 years$59,506$57,242$55,078$53,009$51,030$46,366
5 years$47,129$44,878$42,743$40,716$38,792$34,321
6 years$38,880$36,646$34,542$32,561$30,695$26,420
7 years$32,990$30,776$28,705$26,770$24,963$20,886
8 years$28,575$26,380$24,344$22,457$20,710$16,829
9 years$25,143$22,969$20,967$19,128$17,440$13,754
10 years$22,399$20,246$18,280$16,489$14,860$11,364
11 years$20,155$18,024$16,093$14,350$12,780$9,470
12 years$18,286$16,177$14,282$12,587$11,075$7,946
13 years$16,707$14,619$12,760$11,112$9,658$6,704
14 years$15,354$13,289$11,465$9,864$8,466$5,681
15 years$14,182$12,139$10,352$8,797$7,454$4,833
16 years$13,158$11,138$9,385$7,877$6,588$4,124
17 years$12,256$10,257$8,540$7,077$5,841$3,529
18 years$11,454$9,478$7,796$6,378$5,194$3,026
19 years$10,738$8,784$7,137$5,763$4,629$2,599
20 years$10,094$8,163$6,550$5,220$4,135$2,237
21 years$9,512$7,603$6,025$4,737$3,700$1,927
22 years$8,984$7,098$5,553$4,307$3,317$1,662
23 years$8,503$6,638$5,127$3,923$2,977$1,435
24 years$8,062$6,220$4,742$3,578$2,676$1,240
25 years$7,657$5,837$4,392$3,267$2,408$1,073
26 years$7,284$5,486$4,073$2,987$2,169$928
27 years$6,939$5,163$3,782$2,735$1,956$804
28 years$6,619$4,865$3,516$2,505$1,765$696
29 years$6,322$4,589$3,272$2,298$1,593$603
30 years$6,046$4,334$3,048$2,109$1,440$523
31 years$5,787$4,097$2,841$1,937$1,302$453
32 years$5,545$3,877$2,651$1,780$1,177$393
33 years$5,319$3,671$2,475$1,637$1,066$341
34 years$5,106$3,480$2,313$1,506$965$296
35 years$4,906$3,300$2,162$1,386$874$257
36 years$4,717$3,132$2,023$1,277$792$223
37 years$4,539$2,975$1,893$1,176$718$194
38 years$4,371$2,827$1,773$1,084$651$168
39 years$4,211$2,689$1,661$1,000$590$146
40 years$4,060$2,558$1,557$922$535$127
41 years$3,917$2,435$1,460$851$485$110
42 years$3,781$2,319$1,369$785$441$96
43 years$3,652$2,210$1,285$725$400$83
44 years$3,529$2,106$1,206$669$363$72
45 years$3,411$2,008$1,133$618$329$63
46 years$3,300$1,916$1,064$571$299$54
47 years$3,193$1,828$999$527$272$47
48 years$3,091$1,745$939$487$247$41
49 years$2,993$1,667$883$450$224$36
50 years$2,900$1,592$830$416$203$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,970,000, adding $3,952 every year, while hoping to spend $46,741 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: 29/44/27 Blend
54$2,970,000$2,970,000$2,970,000$2,970,000
55$3,277,016$3,119,606$3,073,571$3,344,574
56$3,561,540$3,222,735$3,126,804$3,501,195
57$3,873,519$3,329,351$3,180,253$3,665,115
58$4,215,703$3,439,574$3,233,877$3,840,406
59$4,591,123$3,553,532$3,287,631$4,028,081
60$5,003,117$3,671,354$3,341,466$4,229,254
61$5,455,361$3,793,177$3,395,331$4,445,148
62$5,951,904$3,919,139$3,449,171$4,677,107
63$6,497,208$4,049,386$3,502,928$4,926,606
64$7,096,187$4,184,069$3,556,539$5,195,269
65$7,754,253$4,323,344$3,609,939$5,484,879
66$8,477,372$4,467,373$3,663,056$5,797,398
67$9,272,112$4,616,322$3,715,817$6,134,981
68$10,145,712$4,770,367$3,768,142$6,500,001
69$11,106,147$4,929,687$3,819,946$6,895,065
70$12,162,201$5,094,469$3,871,142$7,323,043
71$13,323,555$5,264,907$3,921,634$7,787,091
72$14,600,872$5,441,202$3,971,324$8,290,682
73$16,005,903$5,623,563$4,020,105$8,837,639
74$17,551,592$5,812,205$4,067,866$9,432,167
75$19,252,204$6,007,352$4,114,489$10,078,896
76$21,123,455$6,209,238$4,159,850$10,782,921
77$23,182,660$6,418,104$4,203,818$11,549,850
78$25,448,899$6,634,199$4,246,254$12,385,858
79$27,943,196$6,857,783$4,287,012$13,297,742
80$30,688,713$7,089,126$4,325,938$14,292,988
81$33,710,976$7,328,508$4,362,871$15,379,836
82$37,038,108$7,576,217$4,397,640$16,567,361
83$40,701,099$7,832,556$4,430,065$17,865,554
84$44,734,096$8,097,835$4,459,956$19,285,421
85$49,174,725$8,372,381$4,487,116$20,839,079
86$54,064,447$8,656,528$4,511,335$22,539,878
87$59,448,949$8,950,626$4,532,393$24,402,516
88$65,378,573$9,255,038$4,550,059$26,443,186
89$71,908,792$9,570,139$4,564,091$28,679,721
90$79,100,734$9,896,321$4,574,234$31,131,767
91$87,021,758$10,233,990$4,580,219$33,820,963
92$95,746,087$10,583,565$4,581,766$36,771,145
93$105,355,514$10,945,486$4,578,581$40,008,573
94$115,940,166$11,320,205$4,570,354$43,562,173
95$127,599,363$11,708,194$4,556,761$47,463,813
96$140,442,547$12,109,944$4,537,461$51,748,600
97$154,590,319$12,525,964$4,512,098$56,455,211
98$170,175,576$12,956,781$4,480,298$61,626,258
99$187,344,767$13,402,945$4,441,670$67,308,688
100$206,259,270$13,865,027$4,395,803$73,554,222