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%16.7%
1 years$245,260$243,075$240,944$238,863$236,832$230,359
2 years$121,416$119,154$116,963$114,838$112,777$106,303
3 years$80,140$77,869$75,683$73,578$71,550$65,278
4 years$59,506$57,242$55,078$53,009$51,030$45,008
5 years$47,129$44,878$42,743$40,716$38,792$33,036
6 years$38,880$36,646$34,542$32,561$30,695$25,210
7 years$32,990$30,776$28,705$26,770$24,963$19,751
8 years$28,575$26,380$24,344$22,457$20,710$15,766
9 years$25,143$22,969$20,967$19,128$17,440$12,761
10 years$22,399$20,246$18,280$16,489$14,860$10,440
11 years$20,155$18,024$16,093$14,350$12,780$8,611
12 years$18,286$16,177$14,282$12,587$11,075$7,150
13 years$16,707$14,619$12,760$11,112$9,658$5,968
14 years$15,354$13,289$11,465$9,864$8,466$5,003
15 years$14,182$12,139$10,352$8,797$7,454$4,209
16 years$13,158$11,138$9,385$7,877$6,588$3,551
17 years$12,256$10,257$8,540$7,077$5,841$3,003
18 years$11,454$9,478$7,796$6,378$5,194$2,545
19 years$10,738$8,784$7,137$5,763$4,629$2,160
20 years$10,094$8,163$6,550$5,220$4,135$1,836
21 years$9,512$7,603$6,025$4,737$3,700$1,563
22 years$8,984$7,098$5,553$4,307$3,317$1,331
23 years$8,503$6,638$5,127$3,923$2,977$1,135
24 years$8,062$6,220$4,742$3,578$2,676$969
25 years$7,657$5,837$4,392$3,267$2,408$827
26 years$7,284$5,486$4,073$2,987$2,169$707
27 years$6,939$5,163$3,782$2,735$1,956$604
28 years$6,619$4,865$3,516$2,505$1,765$516
29 years$6,322$4,589$3,272$2,298$1,593$442
30 years$6,046$4,334$3,048$2,109$1,440$378
31 years$5,787$4,097$2,841$1,937$1,302$323
32 years$5,545$3,877$2,651$1,780$1,177$277
33 years$5,319$3,671$2,475$1,637$1,066$237
34 years$5,106$3,480$2,313$1,506$965$203
35 years$4,906$3,300$2,162$1,386$874$174
36 years$4,717$3,132$2,023$1,277$792$149
37 years$4,539$2,975$1,893$1,176$718$127
38 years$4,371$2,827$1,773$1,084$651$109
39 years$4,211$2,689$1,661$1,000$590$93
40 years$4,060$2,558$1,557$922$535$80
41 years$3,917$2,435$1,460$851$485$69
42 years$3,781$2,319$1,369$785$441$59
43 years$3,652$2,210$1,285$725$400$50
44 years$3,529$2,106$1,206$669$363$43
45 years$3,411$2,008$1,133$618$329$37
46 years$3,300$1,916$1,064$571$299$32
47 years$3,193$1,828$999$527$272$27
48 years$3,091$1,745$939$487$247$23
49 years$2,993$1,667$883$450$224$20
50 years$2,900$1,592$830$416$203$17

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 $2,328 every year, while hoping to spend $51,895 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: 47/36/17 Blend
54$2,970,000$2,970,000$2,970,000$2,970,000
55$3,275,341$3,117,931$3,071,896$3,413,432
56$3,554,210$3,215,494$3,119,589$3,607,199
57$3,859,785$3,316,098$3,167,140$3,811,938
58$4,194,733$3,419,838$3,214,490$4,033,045
59$4,561,996$3,526,810$3,261,576$4,272,067
60$4,964,811$3,637,115$3,308,330$4,530,707
61$5,406,744$3,750,856$3,354,681$4,810,838
62$5,891,723$3,868,139$3,400,554$5,114,524
63$6,424,075$3,989,074$3,445,868$5,444,031
64$7,008,566$4,113,773$3,490,540$5,801,856
65$7,650,445$4,242,354$3,534,479$6,190,747
66$8,355,498$4,374,936$3,577,591$6,613,729
67$9,130,093$4,511,643$3,619,775$7,074,129
68$9,981,251$4,652,602$3,660,926$7,575,614
69$10,916,704$4,797,945$3,700,932$8,122,219
70$11,944,970$4,947,806$3,739,676$8,718,385
71$13,075,434$5,102,325$3,777,032$9,369,005
72$14,318,435$5,261,647$3,812,870$10,079,465
73$15,685,366$5,425,918$3,847,051$10,855,698
74$17,188,778$5,595,292$3,879,431$11,704,236
75$18,842,497$5,769,925$3,909,857$12,632,274
76$20,661,761$5,949,981$3,938,166$13,647,737
77$22,663,355$6,135,624$3,964,189$14,759,352
78$24,865,776$6,327,029$3,987,748$15,976,732
79$27,289,402$6,524,370$4,008,655$17,310,468
80$29,956,689$6,727,833$4,026,713$18,772,224
81$32,892,378$6,937,603$4,041,714$20,374,849
82$36,123,731$7,153,876$4,053,442$22,132,499
83$39,680,786$7,376,850$4,061,667$24,060,767
84$43,596,642$7,606,732$4,066,149$26,176,832
85$47,907,771$7,843,733$4,066,636$28,499,620
86$52,654,360$8,088,072$4,062,864$31,049,982
87$57,880,690$8,339,973$4,054,556$33,850,891
88$63,635,557$8,599,669$4,041,420$36,927,654
89$69,972,728$8,867,397$4,023,152$40,308,158
90$76,951,451$9,143,403$3,999,432$44,023,126
91$84,637,010$9,427,942$3,969,924$48,106,410
92$93,101,347$9,721,272$3,934,278$52,595,306
93$102,423,734$10,023,664$3,892,126$57,530,911
94$112,691,525$10,335,394$3,843,083$62,958,506
95$124,000,979$10,656,746$3,786,744$68,927,984
96$136,458,166$10,988,015$3,722,688$75,494,322
97$150,179,974$11,329,502$3,650,472$82,718,094
98$165,295,202$11,681,518$3,569,634$90,666,050
99$181,945,785$12,044,385$3,479,689$99,411,740
100$200,288,128$12,418,433$3,380,131$109,036,206