Can I retire at age 55 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$160,203$158,776$157,384$156,025$154,698$153,338
2 years$79,309$77,832$76,400$75,012$73,666$72,295
3 years$52,347$50,864$49,436$48,061$46,737$45,398
4 years$38,869$37,390$35,977$34,625$33,333$32,037
5 years$30,784$29,314$27,919$26,596$25,339$24,089
6 years$25,396$23,937$22,563$21,269$20,050$18,848
7 years$21,549$20,103$18,750$17,486$16,306$15,152
8 years$18,665$17,232$15,901$14,669$13,527$12,421
9 years$16,423$15,003$13,696$12,494$11,392$10,334
10 years$14,631$13,225$11,940$10,770$9,707$8,696
11 years$13,165$11,773$10,512$9,373$8,348$7,384
12 years$11,945$10,567$9,329$8,222$7,234$6,315
13 years$10,913$9,549$8,335$7,259$6,308$5,434
14 years$10,029$8,680$7,489$6,443$5,530$4,699
15 years$9,264$7,929$6,762$5,746$4,869$4,080
16 years$8,595$7,275$6,130$5,145$4,303$3,555
17 years$8,005$6,700$5,578$4,623$3,816$3,107
18 years$7,482$6,191$5,092$4,166$3,393$2,723
19 years$7,014$5,738$4,662$3,765$3,024$2,391
20 years$6,593$5,332$4,278$3,409$2,701$2,104
21 years$6,213$4,967$3,935$3,094$2,417$1,854
22 years$5,868$4,636$3,627$2,813$2,167$1,636
23 years$5,554$4,336$3,349$2,562$1,945$1,446
24 years$5,266$4,063$3,097$2,337$1,748$1,279
25 years$5,002$3,813$2,869$2,134$1,573$1,132
26 years$4,758$3,583$2,660$1,951$1,417$1,004
27 years$4,533$3,372$2,470$1,786$1,277$890
28 years$4,324$3,178$2,297$1,637$1,153$790
29 years$4,130$2,998$2,137$1,501$1,041$701
30 years$3,949$2,831$1,991$1,377$940$623
31 years$3,780$2,676$1,856$1,265$850$554
32 years$3,622$2,532$1,732$1,163$769$493
33 years$3,474$2,398$1,617$1,069$696$438
34 years$3,335$2,273$1,511$984$630$390
35 years$3,204$2,156$1,412$905$571$347
36 years$3,081$2,046$1,321$834$517$309
37 years$2,965$1,943$1,237$768$469$275
38 years$2,855$1,847$1,158$708$425$245
39 years$2,751$1,756$1,085$653$385$218
40 years$2,652$1,671$1,017$602$350$194
41 years$2,559$1,591$954$556$317$173
42 years$2,470$1,515$894$513$288$154
43 years$2,385$1,443$839$473$261$138
44 years$2,305$1,376$788$437$237$123
45 years$2,228$1,312$740$404$215$109
46 years$2,155$1,251$695$373$195$97
47 years$2,086$1,194$653$345$177$87
48 years$2,019$1,140$613$318$161$77
49 years$1,955$1,089$577$294$146$69
50 years$1,894$1,040$542$272$133$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $1,940,000, adding $4,527 every year, while hoping to spend $29,817 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: 43/33/24 Blend
54$1,940,000$1,940,000$1,940,000$1,940,000
55$2,142,550$2,039,730$2,009,660$2,219,520
56$2,329,365$2,107,951$2,045,258$2,342,968
57$2,534,235$2,178,517$2,081,050$2,473,421
58$2,758,972$2,251,509$2,117,010$2,614,172
59$3,005,569$2,327,014$2,153,111$2,766,189
60$3,276,222$2,405,122$2,189,325$2,930,537
61$3,573,350$2,485,927$2,225,621$3,108,385
62$3,899,618$2,569,524$2,261,966$3,301,024
63$4,257,961$2,656,013$2,298,324$3,509,869
64$4,651,614$2,745,499$2,334,659$3,736,480
65$5,084,139$2,838,088$2,370,930$3,982,572
66$5,559,461$2,933,894$2,407,096$4,250,033
67$6,081,902$3,033,031$2,443,110$4,540,941
68$6,656,227$3,135,620$2,478,925$4,857,583
69$7,287,683$3,241,787$2,514,490$5,202,477
70$7,982,052$3,351,660$2,549,751$5,578,393
71$8,745,704$3,465,374$2,584,650$5,988,383
72$9,585,657$3,583,068$2,619,127$6,435,806
73$10,509,644$3,704,888$2,653,118$6,924,359
74$11,526,185$3,830,985$2,686,554$7,458,117
75$12,644,666$3,961,513$2,719,364$8,041,562
76$13,875,430$4,096,636$2,751,471$8,679,634
77$15,229,875$4,236,522$2,782,796$9,377,772
78$16,720,556$4,381,345$2,813,253$10,141,965
79$18,361,309$4,531,288$2,842,754$10,978,810
80$20,167,380$4,686,539$2,871,204$11,895,573
81$22,155,567$4,847,293$2,898,503$12,900,258
82$24,344,378$5,013,754$2,924,546$14,001,679
83$26,754,210$5,186,133$2,949,224$15,209,548
84$29,407,536$5,364,650$2,972,420$16,534,561
85$32,329,120$5,549,533$2,994,011$17,988,502
86$35,546,249$5,741,019$3,013,869$19,584,350
87$39,088,991$5,939,354$3,031,858$21,336,406
88$42,990,480$6,144,793$3,047,837$23,260,423
89$47,287,224$6,357,603$3,061,654$25,373,757
90$52,019,454$6,578,059$3,073,153$27,695,529
91$57,231,504$6,806,450$3,082,169$30,246,805
92$62,972,224$7,043,072$3,088,529$33,050,793
93$69,295,445$7,288,237$3,092,049$36,133,064
94$76,260,487$7,542,267$3,092,538$39,521,791
95$83,932,715$7,805,496$3,089,797$43,248,017
96$92,384,160$8,078,275$3,083,614$47,345,941
97$101,694,198$8,360,964$3,073,769$51,853,247
98$111,950,296$8,653,940$3,060,029$56,811,456
99$123,248,839$8,957,596$3,042,153$62,266,317
100$135,696,042$9,272,339$3,019,886$68,268,238