Can I retire at age 55 with 2,020,000?

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 $2,020,000?

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$166,810$165,324$163,874$162,459$161,078$159,995
2 years$82,579$81,041$79,551$78,105$76,704$75,612
3 years$54,506$52,961$51,474$50,043$48,664$47,597
4 years$40,472$38,932$37,460$36,053$34,708$33,673
5 years$32,054$30,523$29,071$27,692$26,384$25,386
6 years$26,444$24,925$23,493$22,146$20,877$19,916
7 years$22,438$20,932$19,523$18,207$16,978$16,055
8 years$19,435$17,942$16,557$15,274$14,085$13,199
9 years$17,101$15,622$14,261$13,010$11,862$11,013
10 years$15,234$13,770$12,433$11,214$10,107$9,295
11 years$13,708$12,259$10,946$9,760$8,692$7,917
12 years$12,437$11,003$9,714$8,561$7,533$6,793
13 years$11,363$9,943$8,679$7,558$6,569$5,864
14 years$10,443$9,038$7,798$6,709$5,758$5,087
15 years$9,646$8,256$7,040$5,983$5,070$4,432
16 years$8,949$7,575$6,383$5,357$4,481$3,875
17 years$8,335$6,976$5,808$4,814$3,973$3,399
18 years$7,790$6,447$5,302$4,338$3,532$2,988
19 years$7,303$5,975$4,854$3,920$3,149$2,634
20 years$6,865$5,552$4,455$3,550$2,812$2,326
21 years$6,470$5,171$4,098$3,222$2,517$2,057
22 years$6,110$4,827$3,777$2,929$2,256$1,822
23 years$5,783$4,515$3,487$2,668$2,025$1,616
24 years$5,483$4,230$3,225$2,433$1,820$1,435
25 years$5,208$3,970$2,987$2,222$1,638$1,276
26 years$4,954$3,731$2,770$2,032$1,475$1,135
27 years$4,720$3,511$2,572$1,860$1,330$1,011
28 years$4,502$3,309$2,391$1,704$1,200$901
29 years$4,300$3,121$2,225$1,563$1,084$803
30 years$4,112$2,948$2,073$1,434$979$716
31 years$3,936$2,787$1,932$1,317$885$639
32 years$3,772$2,637$1,803$1,210$801$571
33 years$3,618$2,497$1,683$1,113$725$510
34 years$3,473$2,367$1,573$1,024$656$456
35 years$3,337$2,245$1,471$943$594$407
36 years$3,208$2,131$1,376$868$538$364
37 years$3,087$2,023$1,288$800$488$325
38 years$2,973$1,923$1,206$737$442$291
39 years$2,864$1,829$1,130$680$401$260
40 years$2,762$1,740$1,059$627$364$233
41 years$2,664$1,656$993$579$330$209
42 years$2,572$1,577$931$534$300$187
43 years$2,484$1,503$874$493$272$167
44 years$2,400$1,432$820$455$247$150
45 years$2,320$1,366$770$420$224$134
46 years$2,244$1,303$723$388$203$120
47 years$2,172$1,244$680$359$185$107
48 years$2,102$1,187$639$331$168$96
49 years$2,036$1,134$600$306$152$86
50 years$1,972$1,083$564$283$138$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,020,000, adding $2,402 every year, while hoping to spend $39,745 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: 69/6/25 Blend
54$2,020,000$2,020,000$2,020,000$2,020,000
55$2,228,518$2,121,458$2,090,148$2,367,884
56$2,413,538$2,183,121$2,117,879$2,523,274
57$2,616,099$2,246,473$2,145,208$2,688,454
58$2,837,946$2,311,556$2,172,078$2,868,293
59$3,081,005$2,378,410$2,198,430$3,064,243
60$3,347,393$2,447,079$2,224,204$3,277,900
61$3,639,446$2,517,604$2,249,333$3,511,025
62$3,959,732$2,590,029$2,273,748$3,765,558
63$4,311,083$2,664,398$2,297,377$4,043,635
64$4,696,616$2,740,757$2,320,142$4,347,611
65$5,119,767$2,819,150$2,341,963$4,680,077
66$5,584,318$2,899,623$2,362,754$5,043,893
67$6,094,437$2,982,223$2,382,424$5,442,207
68$6,654,714$3,066,997$2,400,880$5,878,488
69$7,270,207$3,153,992$2,418,022$6,356,559
70$7,946,486$3,243,256$2,433,744$6,880,632
71$8,689,690$3,334,837$2,447,936$7,455,348
72$9,506,580$3,428,785$2,460,483$8,085,823
73$10,404,604$3,525,149$2,471,262$8,777,691
74$11,391,969$3,623,977$2,480,146$9,537,164
75$12,477,718$3,725,320$2,486,999$10,371,085
76$13,671,813$3,829,228$2,491,680$11,286,996
77$14,985,227$3,935,750$2,494,042$12,293,208
78$16,430,056$4,044,937$2,493,927$13,398,877
79$18,019,621$4,156,838$2,491,173$14,614,098
80$19,768,603$4,271,504$2,485,608$15,949,990
81$21,693,178$4,388,985$2,477,053$17,418,811
82$23,811,166$4,509,330$2,465,319$19,034,066
83$26,142,206$4,632,588$2,450,208$20,810,640
84$28,707,935$4,758,808$2,431,513$22,764,934
85$31,532,193$4,888,038$2,409,018$24,915,024
86$34,641,251$5,020,327$2,382,495$27,280,831
87$38,064,056$5,155,720$2,351,705$29,884,305
88$41,832,502$5,294,263$2,316,400$32,749,639
89$45,981,737$5,436,001$2,276,319$35,903,493
90$50,550,486$5,580,977$2,231,188$39,375,245
91$55,581,424$5,729,234$2,180,721$43,197,274
92$61,121,574$5,880,811$2,124,620$47,405,261
93$67,222,750$6,035,746$2,062,570$52,038,525
94$73,942,050$6,194,077$1,994,246$57,140,401
95$81,342,390$6,355,838$1,919,304$62,758,643
96$89,493,099$6,521,059$1,837,386$68,945,878
97$98,470,575$6,689,771$1,748,118$75,760,102
98$108,359,003$6,861,999$1,651,109$83,265,228
99$119,251,150$7,037,765$1,545,950$91,531,691
100$131,249,241$7,217,090$1,432,213$100,637,112