Can I retire at age 55 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$193,235$191,514$189,834$188,195$186,595$183,958
2 years$95,661$93,879$92,153$90,479$88,855$86,204
3 years$63,140$61,351$59,629$57,970$56,373$53,790
4 years$46,883$45,100$43,395$41,764$40,206$37,710
5 years$37,132$35,359$33,676$32,079$30,564$28,163
6 years$30,633$28,873$27,215$25,654$24,184$21,881
7 years$25,992$24,247$22,616$21,092$19,668$17,464
8 years$22,514$20,785$19,180$17,693$16,317$14,210
9 years$19,810$18,097$16,520$15,071$13,741$11,732
10 years$17,647$15,951$14,402$12,991$11,708$9,795
11 years$15,880$14,201$12,680$11,306$10,069$8,250
12 years$14,408$12,746$11,253$9,917$8,726$6,998
13 years$13,163$11,518$10,054$8,755$7,609$5,971
14 years$12,097$10,470$9,033$7,772$6,670$5,119
15 years$11,174$9,564$8,156$6,931$5,873$4,406
16 years$10,367$8,775$7,394$6,206$5,190$3,805
17 years$9,656$8,082$6,729$5,576$4,602$3,295
18 years$9,024$7,468$6,142$5,025$4,092$2,861
19 years$8,460$6,921$5,623$4,541$3,647$2,489
20 years$7,953$6,431$5,161$4,112$3,258$2,169
21 years$7,495$5,991$4,747$3,732$2,915$1,893
22 years$7,078$5,592$4,375$3,394$2,613$1,654
23 years$6,699$5,230$4,039$3,091$2,346$1,447
24 years$6,352$4,900$3,736$2,819$2,108$1,267
25 years$6,033$4,599$3,460$2,574$1,897$1,111
26 years$5,739$4,322$3,209$2,354$1,709$974
27 years$5,467$4,067$2,980$2,154$1,541$855
28 years$5,215$3,833$2,770$1,974$1,390$751
29 years$4,981$3,616$2,578$1,810$1,255$660
30 years$4,763$3,415$2,401$1,661$1,134$580
31 years$4,560$3,228$2,239$1,526$1,026$510
32 years$4,369$3,054$2,089$1,402$928$449
33 years$4,191$2,893$1,950$1,289$840$395
34 years$4,023$2,741$1,822$1,186$760$348
35 years$3,865$2,600$1,704$1,092$688$306
36 years$3,716$2,468$1,594$1,006$624$269
37 years$3,576$2,344$1,492$927$565$237
38 years$3,444$2,228$1,397$854$513$209
39 years$3,318$2,118$1,309$788$465$184
40 years$3,199$2,015$1,227$726$422$162
41 years$3,086$1,918$1,150$670$382$143
42 years$2,979$1,827$1,079$619$347$126
43 years$2,877$1,741$1,012$571$315$111
44 years$2,780$1,659$950$527$286$98
45 years$2,688$1,582$892$487$260$86
46 years$2,600$1,510$838$450$236$76
47 years$2,516$1,441$787$416$214$67
48 years$2,435$1,375$740$384$194$59
49 years$2,358$1,313$695$355$177$52
50 years$2,285$1,254$654$328$160$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,340,000, adding $5,054 every year, while hoping to spend $49,643 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: 36/47/17 Blend
54$2,340,000$2,340,000$2,340,000$2,340,000
55$2,583,893$2,459,873$2,423,603$2,663,347
56$2,794,631$2,527,587$2,451,974$2,789,119
57$3,025,199$2,596,955$2,479,632$2,919,759
58$3,277,570$2,668,006$2,506,500$3,059,742
59$3,553,912$2,740,769$2,532,497$3,209,930
60$3,856,615$2,815,270$2,557,540$3,371,269
61$4,188,310$2,891,539$2,581,537$3,544,801
62$4,551,894$2,969,601$2,604,396$3,731,673
63$4,950,561$3,049,485$2,626,017$3,933,147
64$5,387,824$3,131,216$2,646,294$4,150,612
65$5,867,556$3,214,819$2,665,119$4,385,597
66$6,394,020$3,300,319$2,682,374$4,639,786
67$6,971,916$3,387,740$2,697,939$4,915,033
68$7,606,416$3,477,104$2,711,685$5,213,379
69$8,303,222$3,568,433$2,723,478$5,537,074
70$9,068,611$3,661,747$2,733,175$5,888,592
71$9,909,502$3,757,066$2,740,629$6,270,663
72$10,833,514$3,854,405$2,745,683$6,686,290
73$11,849,043$3,953,781$2,748,173$7,138,782
74$12,965,337$4,055,207$2,747,929$7,631,786
75$14,192,585$4,158,696$2,744,768$8,169,318
76$15,542,012$4,264,257$2,738,502$8,755,802
77$17,025,988$4,371,896$2,728,932$9,396,116
78$18,658,138$4,481,618$2,715,850$10,095,629
79$20,453,476$4,593,424$2,699,039$10,860,261
80$22,428,542$4,707,314$2,678,269$11,696,533
81$24,601,563$4,823,282$2,653,300$12,611,632
82$26,992,619$4,941,320$2,623,882$13,613,476
83$29,623,837$5,061,415$2,589,753$14,710,791
84$32,519,594$5,183,550$2,550,636$15,913,191
85$35,706,754$5,307,705$2,506,243$17,231,273
86$39,214,914$5,433,854$2,456,274$18,676,714
87$43,076,688$5,561,966$2,400,412$20,262,381
88$47,328,011$5,692,003$2,338,326$22,002,455
89$52,008,481$5,823,924$2,269,673$23,912,563
90$57,161,728$5,957,678$2,194,089$26,009,928
91$62,835,831$6,093,210$2,111,197$28,313,528
92$69,083,765$6,230,457$2,020,602$30,844,281
93$75,963,907$6,369,348$1,921,890$33,625,238
94$83,540,582$6,509,802$1,814,630$36,681,802
95$91,884,671$6,651,733$1,698,370$40,041,973
96$101,074,281$6,795,040$1,572,638$43,736,604
97$111,195,477$6,939,617$1,436,941$47,799,701
98$122,343,102$7,085,344$1,290,765$52,268,740
99$134,621,663$7,232,091$1,133,570$57,185,024
100$148,146,324$7,379,715$964,796$62,594,071