Can I retire at age 55 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$195,712$193,969$192,268$190,608$188,987$182,791
2 years$96,887$95,083$93,334$91,639$89,994$83,811
3 years$63,950$62,138$60,393$58,714$57,096$51,120
4 years$47,484$45,678$43,951$42,300$40,721$34,998
5 years$37,608$35,812$34,108$32,490$30,956$25,500
6 years$31,025$29,243$27,564$25,983$24,494$19,311
7 years$26,326$24,558$22,906$21,362$19,920$15,009
8 years$22,802$21,051$19,426$17,920$16,526$11,882
9 years$20,064$18,329$16,732$15,264$13,917$9,536
10 years$17,874$16,156$14,587$13,158$11,858$7,733
11 years$16,083$14,383$12,842$11,451$10,198$6,322
12 years$14,592$12,909$11,397$10,044$8,838$5,200
13 years$13,332$11,666$10,183$8,867$7,707$4,300
14 years$12,252$10,604$9,149$7,872$6,756$3,570
15 years$11,317$9,687$8,260$7,020$5,948$2,973
16 years$10,500$8,888$7,489$6,286$5,257$2,484
17 years$9,780$8,185$6,815$5,648$4,661$2,079
18 years$9,140$7,564$6,221$5,090$4,145$1,744
19 years$8,569$7,010$5,695$4,599$3,694$1,465
20 years$8,055$6,514$5,227$4,165$3,300$1,232
21 years$7,591$6,067$4,808$3,780$2,953$1,037
22 years$7,169$5,664$4,431$3,437$2,647$874
23 years$6,785$5,297$4,091$3,130$2,376$737
24 years$6,433$4,963$3,784$2,855$2,136$622
25 years$6,110$4,658$3,504$2,607$1,922$525
26 years$5,813$4,377$3,250$2,384$1,731$444
27 years$5,537$4,120$3,018$2,182$1,561$375
28 years$5,282$3,882$2,806$1,999$1,408$317
29 years$5,045$3,662$2,611$1,833$1,272$268
30 years$4,824$3,458$2,432$1,683$1,149$227
31 years$4,618$3,269$2,267$1,545$1,039$192
32 years$4,425$3,094$2,115$1,420$940$162
33 years$4,244$2,930$1,975$1,306$850$137
34 years$4,074$2,777$1,845$1,202$770$116
35 years$3,915$2,634$1,725$1,106$697$98
36 years$3,764$2,500$1,614$1,019$632$83
37 years$3,622$2,374$1,511$939$573$70
38 years$3,488$2,256$1,415$865$519$60
39 years$3,361$2,145$1,325$798$471$50
40 years$3,240$2,041$1,242$736$427$43
41 years$3,126$1,943$1,165$679$387$36
42 years$3,017$1,851$1,093$626$352$31
43 years$2,914$1,763$1,025$578$319$26
44 years$2,816$1,681$963$534$290$22
45 years$2,722$1,603$904$493$263$19
46 years$2,633$1,529$849$456$239$16
47 years$2,548$1,459$797$421$217$13
48 years$2,466$1,393$749$389$197$11
49 years$2,388$1,330$704$359$179$10
50 years$2,314$1,271$662$332$162$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,370,000, adding $2,460 every year, while hoping to spend $24,565 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: 71/21/8 Blend
54$2,370,000$2,370,000$2,370,000$2,370,000
55$2,614,277$2,488,667$2,451,932$2,796,201
56$2,854,797$2,584,475$2,507,935$3,012,572
57$3,119,026$2,684,154$2,564,991$3,246,056
58$3,409,357$2,787,868$2,623,108$3,500,942
59$3,728,426$2,895,788$2,682,297$3,779,330
60$4,079,136$3,008,093$2,742,565$4,083,532
61$4,464,687$3,124,968$2,803,920$4,416,094
62$4,888,602$3,246,609$2,866,368$4,779,815
63$5,354,765$3,373,218$2,929,917$5,177,780
64$5,867,454$3,505,009$2,994,572$5,613,383
65$6,431,382$3,642,202$3,060,338$6,090,362
66$7,051,742$3,785,029$3,127,219$6,612,830
67$7,734,256$3,933,732$3,195,217$7,185,319
68$8,485,229$4,088,563$3,264,335$7,812,816
69$9,311,606$4,249,787$3,334,574$8,500,815
70$10,221,042$4,417,678$3,405,934$9,255,366
71$11,221,969$4,592,525$3,478,414$10,083,130
72$12,323,680$4,774,629$3,552,011$10,991,443
73$13,536,413$4,964,303$3,626,720$11,988,385
74$14,871,449$5,161,876$3,702,538$13,082,855
75$16,341,221$5,367,692$3,779,457$14,284,656
76$17,959,425$5,582,109$3,857,468$15,604,581
77$19,741,155$5,805,501$3,936,562$17,054,524
78$21,703,042$6,038,260$4,016,727$18,647,581
79$23,863,413$6,280,795$4,097,948$20,398,181
80$26,242,462$6,533,535$4,180,209$22,322,217
81$28,862,440$6,796,925$4,263,494$24,437,197
82$31,747,869$7,071,434$4,347,780$26,762,407
83$34,925,767$7,357,550$4,433,047$29,319,094
84$38,425,909$7,655,784$4,519,267$32,130,664
85$42,281,103$7,966,668$4,606,414$35,222,903
86$46,527,504$8,290,763$4,694,457$38,624,218
87$51,204,949$8,628,650$4,783,361$42,365,907
88$56,357,341$8,980,941$4,873,091$46,482,450
89$62,033,055$9,348,273$4,963,605$51,011,835
90$68,285,401$9,731,313$5,054,860$55,995,917
91$75,173,123$10,130,758$5,146,809$61,480,806
92$82,760,955$10,547,339$5,239,400$67,517,310
93$91,120,231$10,981,817$5,332,579$74,161,405
94$100,329,560$11,434,991$5,426,286$81,474,766
95$110,475,565$11,907,695$5,520,456$89,525,350
96$121,653,702$12,400,802$5,615,021$98,388,029
97$133,969,163$12,915,225$5,709,908$108,145,303
98$147,537,865$13,451,918$5,805,037$118,888,070
99$162,487,545$14,011,880$5,900,323$130,716,490
100$178,958,969$14,596,156$5,995,678$143,740,922