Can I retire at age 55 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$246,911$244,712$242,566$240,472$238,427$229,693
2 years$122,233$119,957$117,751$115,611$113,537$104,835
3 years$80,679$78,393$76,192$74,073$72,032$63,636
4 years$59,907$57,627$55,449$53,366$51,374$43,347
5 years$47,446$45,180$43,030$40,990$39,054$31,418
6 years$39,142$36,893$34,775$32,780$30,902$23,662
7 years$33,213$30,983$28,898$26,950$25,131$18,286
8 years$28,768$26,558$24,508$22,608$20,849$14,391
9 years$25,312$23,124$21,109$19,257$17,558$11,479
10 years$22,550$20,382$18,403$16,600$14,960$9,250
11 years$20,291$18,145$16,202$14,447$12,866$7,513
12 years$18,410$16,286$14,379$12,672$11,150$6,139
13 years$16,819$14,718$12,846$11,187$9,723$5,042
14 years$15,457$13,378$11,542$9,931$8,523$4,157
15 years$14,278$12,221$10,421$8,856$7,504$3,438
16 years$13,247$11,213$9,448$7,930$6,632$2,851
17 years$12,338$10,326$8,598$7,125$5,881$2,369
18 years$11,531$9,542$7,849$6,421$5,229$1,972
19 years$10,810$8,844$7,185$5,802$4,660$1,644
20 years$10,162$8,218$6,594$5,255$4,163$1,372
21 years$9,576$7,655$6,065$4,769$3,725$1,146
22 years$9,045$7,145$5,590$4,336$3,339$958
23 years$8,560$6,683$5,161$3,949$2,997$802
24 years$8,116$6,261$4,773$3,602$2,694$671
25 years$7,709$5,876$4,421$3,289$2,424$562
26 years$7,333$5,523$4,100$3,008$2,184$471
27 years$6,986$5,197$3,808$2,753$1,969$395
28 years$6,664$4,897$3,540$2,522$1,777$331
29 years$6,365$4,620$3,294$2,313$1,604$278
30 years$6,086$4,363$3,068$2,123$1,449$233
31 years$5,826$4,125$2,860$1,950$1,310$195
32 years$5,583$3,903$2,669$1,792$1,185$164
33 years$5,355$3,696$2,492$1,648$1,073$138
34 years$5,140$3,503$2,328$1,516$971$115
35 years$4,939$3,323$2,177$1,396$880$97
36 years$4,749$3,154$2,036$1,285$797$81
37 years$4,570$2,995$1,906$1,184$722$68
38 years$4,400$2,846$1,785$1,091$655$57
39 years$4,240$2,707$1,672$1,006$594$48
40 years$4,088$2,575$1,567$928$539$40
41 years$3,944$2,451$1,470$856$489$34
42 years$3,807$2,335$1,379$790$443$28
43 years$3,676$2,224$1,294$730$402$24
44 years$3,553$2,120$1,214$674$365$20
45 years$3,434$2,022$1,140$622$332$17
46 years$3,322$1,929$1,071$575$301$14
47 years$3,214$1,841$1,006$531$273$12
48 years$3,112$1,757$945$491$248$10
49 years$3,013$1,678$889$453$226$8
50 years$2,919$1,603$835$419$205$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,990,000, adding $2,658 every year, while hoping to spend $39,999 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: 68/22/10 Blend
54$2,990,000$2,990,000$2,990,000$2,990,000
55$3,297,722$3,139,252$3,092,907$3,515,080
56$3,591,531$3,250,516$3,153,960$3,771,019
57$3,913,968$3,365,893$3,215,719$4,045,761
58$4,267,910$3,485,539$3,278,163$4,345,173
59$4,656,529$3,609,622$3,341,274$4,671,665
60$5,083,315$3,738,314$3,405,026$5,027,893
61$5,552,116$3,871,794$3,469,397$5,416,777
62$6,067,168$4,010,249$3,534,359$5,841,535
63$6,633,142$4,153,873$3,599,883$6,305,705
64$7,255,179$4,302,870$3,665,935$6,813,186
65$7,938,946$4,457,449$3,732,483$7,368,268
66$8,690,685$4,617,831$3,799,487$7,975,677
67$9,517,273$4,784,242$3,866,909$8,640,614
68$10,426,288$4,956,923$3,934,703$9,368,808
69$11,426,076$5,136,120$4,002,823$10,166,568
70$12,525,838$5,322,091$4,071,219$11,040,839
71$13,735,705$5,515,105$4,139,836$11,999,274
72$15,066,844$5,715,442$4,208,618$13,050,297
73$16,531,557$5,923,394$4,277,502$14,203,188
74$18,143,400$6,139,264$4,346,422$15,468,170
75$19,917,307$6,363,369$4,415,308$16,856,499
76$21,869,737$6,596,039$4,484,085$18,380,577
77$24,018,822$6,837,616$4,552,673$20,054,063
78$26,384,542$7,088,460$4,620,988$21,892,004
79$28,988,913$7,348,942$4,688,939$23,910,974
80$31,856,194$7,619,453$4,756,431$26,129,232
81$35,013,116$7,900,396$4,823,362$28,566,892
82$38,489,133$8,192,195$4,889,623$31,246,112
83$42,316,702$8,495,289$4,955,102$34,191,305
84$46,531,584$8,810,137$5,019,678$37,429,363
85$51,173,191$9,137,219$5,083,222$40,989,915
86$56,284,946$9,477,032$5,145,599$44,905,603
87$61,914,700$9,830,096$5,206,666$49,212,391
88$68,115,183$10,196,955$5,266,274$53,949,902
89$74,944,499$10,578,173$5,324,261$59,161,791
90$82,466,675$10,974,340$5,380,460$64,896,155
91$90,752,264$11,386,071$5,434,694$71,205,990
92$99,879,014$11,814,007$5,486,775$78,149,684
93$109,932,597$12,258,818$5,536,507$85,791,573
94$121,007,424$12,721,201$5,583,681$94,202,542
95$133,207,526$13,201,885$5,628,079$103,460,695
96$146,647,544$13,701,628$5,669,471$113,652,091
97$161,453,810$14,221,224$5,707,614$124,871,555
98$177,765,533$14,761,499$5,742,254$137,223,572
99$195,736,121$15,323,315$5,773,122$150,823,270
100$215,534,621$15,907,574$5,799,938$165,797,505