Can I retire at age 55 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$246,086$243,894$241,755$239,668$237,629$230,115
2 years$121,825$119,556$117,357$115,225$113,157$105,654
3 years$80,410$78,131$75,938$73,826$71,791$64,536
4 years$59,706$57,435$55,263$53,187$51,202$44,250
5 years$47,287$45,029$42,886$40,853$38,923$32,292
6 years$39,011$36,770$34,659$32,670$30,799$24,495
7 years$33,101$30,879$28,801$26,860$25,047$19,070
8 years$28,671$26,469$24,426$22,532$20,779$15,125
9 years$25,228$23,046$21,038$19,193$17,499$12,161
10 years$22,474$20,314$18,341$16,544$14,910$9,880
11 years$20,223$18,084$16,148$14,398$12,823$8,092
12 years$18,348$16,232$14,331$12,629$11,112$6,670
13 years$16,763$14,669$12,803$11,150$9,690$5,526
14 years$15,405$13,333$11,504$9,898$8,494$4,598
15 years$14,230$12,180$10,386$8,827$7,479$3,838
16 years$13,203$11,175$9,417$7,903$6,610$3,212
17 years$12,297$10,292$8,569$7,101$5,861$2,695
18 years$11,493$9,510$7,822$6,400$5,211$2,265
19 years$10,774$8,814$7,161$5,783$4,645$1,907
20 years$10,128$8,190$6,572$5,237$4,149$1,608
21 years$9,544$7,629$6,045$4,753$3,713$1,357
22 years$9,014$7,121$5,571$4,322$3,328$1,146
23 years$8,531$6,661$5,144$3,936$2,987$969
24 years$8,089$6,240$4,757$3,590$2,685$819
25 years$7,683$5,856$4,406$3,278$2,416$693
26 years$7,309$5,504$4,087$2,998$2,176$587
27 years$6,963$5,180$3,795$2,744$1,962$497
28 years$6,642$4,881$3,528$2,514$1,771$421
29 years$6,344$4,605$3,283$2,305$1,599$357
30 years$6,066$4,349$3,058$2,116$1,445$303
31 years$5,807$4,111$2,851$1,943$1,306$257
32 years$5,564$3,890$2,660$1,786$1,181$218
33 years$5,337$3,684$2,484$1,642$1,069$185
34 years$5,123$3,491$2,320$1,511$968$157
35 years$4,922$3,311$2,169$1,391$877$133
36 years$4,733$3,143$2,029$1,281$794$113
37 years$4,554$2,985$1,900$1,180$720$96
38 years$4,385$2,837$1,779$1,088$653$81
39 years$4,226$2,698$1,667$1,003$592$69
40 years$4,074$2,567$1,562$925$537$59
41 years$3,930$2,443$1,465$854$487$50
42 years$3,794$2,327$1,374$788$442$42
43 years$3,664$2,217$1,289$727$401$36
44 years$3,541$2,113$1,210$671$364$30
45 years$3,423$2,015$1,136$620$331$26
46 years$3,311$1,922$1,067$573$300$22
47 years$3,204$1,835$1,003$529$273$19
48 years$3,101$1,751$942$489$247$16
49 years$3,003$1,672$886$452$225$13
50 years$2,910$1,598$833$418$204$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,980,000, adding $3,840 every year, while hoping to spend $30,424 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: 80/8/12 Blend
54$2,980,000$2,980,000$2,980,000$2,980,000
55$3,287,921$3,129,981$3,083,791$3,543,396
56$3,590,918$3,250,979$3,154,727$3,832,723
57$3,923,801$3,376,887$3,227,020$4,145,816
58$4,289,586$3,507,912$3,300,683$4,488,518
59$4,691,597$3,644,272$3,375,728$4,863,778
60$5,133,493$3,786,195$3,452,169$5,274,844
61$5,619,309$3,933,918$3,530,015$5,725,294
62$6,153,487$4,087,688$3,609,279$6,219,067
63$6,740,923$4,247,765$3,689,971$6,760,501
64$7,387,010$4,414,419$3,772,098$7,354,376
65$8,097,692$4,587,932$3,855,670$8,005,956
66$8,879,515$4,768,599$3,940,693$8,721,038
67$9,739,693$4,956,728$4,027,174$9,506,009
68$10,686,176$5,152,642$4,115,119$10,367,905
69$11,727,720$5,356,676$4,204,529$11,314,474
70$12,873,976$5,569,181$4,295,409$12,354,254
71$14,135,576$5,790,525$4,387,760$13,496,650
72$15,524,235$6,021,091$4,481,580$14,752,022
73$17,052,862$6,261,280$4,576,869$16,131,784
74$18,735,682$6,511,511$4,673,622$17,648,512
75$20,588,368$6,772,221$4,771,834$19,316,058
76$22,628,190$7,043,868$4,871,499$21,149,686
77$24,874,177$7,326,930$4,972,606$23,166,212
78$27,347,299$7,621,905$5,075,144$25,384,163
79$30,070,662$7,929,317$5,179,100$27,823,951
80$33,069,727$8,249,712$5,284,458$30,508,067
81$36,372,551$8,583,659$5,391,199$33,461,291
82$40,010,048$8,931,755$5,499,301$36,710,927
83$44,016,286$9,294,625$5,608,741$40,287,055
84$48,428,805$9,672,919$5,719,491$44,222,825
85$53,288,971$10,067,319$5,831,522$48,554,756
86$58,642,367$10,478,539$5,944,799$53,323,093
87$64,539,224$10,907,323$6,059,285$58,572,176
88$71,034,893$11,354,450$6,174,940$64,350,863
89$78,190,370$11,820,736$6,291,718$70,712,991
90$86,072,868$12,307,032$6,409,571$77,717,882
91$94,756,454$12,814,230$6,528,444$85,430,900
92$104,322,746$13,343,261$6,648,281$93,924,072
93$114,861,686$13,895,101$6,769,018$103,276,764
94$126,472,385$14,470,768$6,890,588$113,576,431
95$139,264,062$15,071,330$7,012,916$124,919,441
96$153,357,072$15,697,900$7,135,925$137,411,982
97$168,884,044$16,351,648$7,259,528$151,171,067
98$185,991,130$17,033,792$7,383,636$166,325,637
99$204,839,387$17,745,610$7,508,150$183,017,775
100$225,606,298$18,488,438$7,632,966$201,404,048