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%11.6%
1 years$246,911$244,712$242,566$240,472$238,427$236,825
2 years$122,233$119,957$117,751$115,611$113,537$111,921
3 years$80,679$78,393$76,192$74,073$72,032$70,453
4 years$59,907$57,627$55,449$53,366$51,374$49,843
5 years$47,446$45,180$43,030$40,990$39,054$37,576
6 years$39,142$36,893$34,775$32,780$30,902$29,479
7 years$33,213$30,983$28,898$26,950$25,131$23,764
8 years$28,768$26,558$24,508$22,608$20,849$19,538
9 years$25,312$23,124$21,109$19,257$17,558$16,302
10 years$22,550$20,382$18,403$16,600$14,960$13,759
11 years$20,291$18,145$16,202$14,447$12,866$11,718
12 years$18,410$16,286$14,379$12,672$11,150$10,055
13 years$16,819$14,718$12,846$11,187$9,723$8,679
14 years$15,457$13,378$11,542$9,931$8,523$7,530
15 years$14,278$12,221$10,421$8,856$7,504$6,560
16 years$13,247$11,213$9,448$7,930$6,632$5,736
17 years$12,338$10,326$8,598$7,125$5,881$5,031
18 years$11,531$9,542$7,849$6,421$5,229$4,424
19 years$10,810$8,844$7,185$5,802$4,660$3,898
20 years$10,162$8,218$6,594$5,255$4,163$3,443
21 years$9,576$7,655$6,065$4,769$3,725$3,045
22 years$9,045$7,145$5,590$4,336$3,339$2,697
23 years$8,560$6,683$5,161$3,949$2,997$2,393
24 years$8,116$6,261$4,773$3,602$2,694$2,125
25 years$7,709$5,876$4,421$3,289$2,424$1,889
26 years$7,333$5,523$4,100$3,008$2,184$1,680
27 years$6,986$5,197$3,808$2,753$1,969$1,496
28 years$6,664$4,897$3,540$2,522$1,777$1,333
29 years$6,365$4,620$3,294$2,313$1,604$1,189
30 years$6,086$4,363$3,068$2,123$1,449$1,060
31 years$5,826$4,125$2,860$1,950$1,310$946
32 years$5,583$3,903$2,669$1,792$1,185$845
33 years$5,355$3,696$2,492$1,648$1,073$755
34 years$5,140$3,503$2,328$1,516$971$674
35 years$4,939$3,323$2,177$1,396$880$603
36 years$4,749$3,154$2,036$1,285$797$539
37 years$4,570$2,995$1,906$1,184$722$482
38 years$4,400$2,846$1,785$1,091$655$431
39 years$4,240$2,707$1,672$1,006$594$386
40 years$4,088$2,575$1,567$928$539$345
41 years$3,944$2,451$1,470$856$489$309
42 years$3,807$2,335$1,379$790$443$276
43 years$3,676$2,224$1,294$730$402$247
44 years$3,553$2,120$1,214$674$365$221
45 years$3,434$2,022$1,140$622$332$198
46 years$3,322$1,929$1,071$575$301$177
47 years$3,214$1,841$1,006$531$273$159
48 years$3,112$1,757$945$491$248$142
49 years$3,013$1,678$889$453$226$127
50 years$2,919$1,603$835$419$205$114

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 $4,374 every year, while hoping to spend $36,933 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: 52/25/23 Blend
54$2,990,000$2,990,000$2,990,000$2,990,000
55$3,299,492$3,141,022$3,094,677$3,449,765
56$3,596,744$3,255,635$3,159,052$3,668,659
57$3,923,077$3,374,627$3,224,346$3,902,478
58$4,281,420$3,498,173$3,290,551$4,156,053
59$4,674,997$3,626,455$3,357,656$4,431,278
60$5,107,360$3,759,665$3,425,651$4,730,235
61$5,582,422$3,898,000$3,494,522$5,055,217
62$6,104,496$4,041,669$3,564,255$5,408,744
63$6,678,330$4,190,886$3,634,833$5,793,592
64$7,309,157$4,345,877$3,706,237$6,212,813
65$8,002,742$4,506,876$3,778,447$6,669,768
66$8,765,437$4,674,128$3,851,440$7,168,154
67$9,604,238$4,847,887$3,925,190$7,712,043
68$10,526,856$5,028,419$3,999,670$8,305,916
69$11,541,785$5,216,002$4,074,848$8,954,706
70$12,658,384$5,410,923$4,150,693$9,663,844
71$13,886,966$5,613,484$4,227,168$10,439,310
72$15,238,892$5,824,000$4,304,233$11,287,688
73$16,726,681$6,042,799$4,381,847$12,216,228
74$18,364,127$6,270,221$4,459,964$13,232,913
75$20,166,430$6,506,623$4,538,534$14,346,536
76$22,150,336$6,752,378$4,617,505$15,566,777
77$24,334,298$7,007,873$4,696,820$16,904,300
78$26,738,651$7,273,513$4,776,418$18,370,849
79$29,385,799$7,549,721$4,856,234$19,979,357
80$32,300,430$7,836,936$4,936,197$21,744,071
81$35,509,747$8,135,619$5,016,233$23,680,684
82$39,043,727$8,446,251$5,096,262$25,806,478
83$42,935,400$8,769,330$5,176,200$28,140,494
84$47,221,165$9,105,381$5,255,956$30,703,705
85$51,941,127$9,454,948$5,335,435$33,519,214
86$57,139,483$9,818,601$5,414,533$36,612,472
87$62,864,932$10,196,935$5,493,142$40,011,517
88$69,171,140$10,590,570$5,571,147$43,747,235
89$76,117,242$11,000,153$5,648,425$47,853,655
90$83,768,401$11,426,361$5,724,848$52,368,266
91$92,196,425$11,869,900$5,800,278$57,332,369
92$101,480,443$12,331,507$5,874,569$62,791,466
93$111,707,650$12,811,953$5,947,569$68,795,690
94$122,974,132$13,312,041$6,019,115$75,400,274
95$135,385,773$13,832,610$6,089,035$82,666,074
96$149,059,252$14,374,538$6,157,148$90,660,139
97$164,123,146$14,938,741$6,223,263$99,456,344
98$180,719,143$15,526,175$6,287,178$109,136,083
99$199,003,378$16,137,840$6,348,680$119,789,042
100$219,147,907$16,774,779$6,407,546$131,514,036