Can I retire at age 55 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$241,131$238,983$236,887$234,842$232,845$230,605
2 years$119,372$117,149$114,994$112,905$110,879$108,622
3 years$78,791$76,558$74,409$72,339$70,346$68,143
4 years$58,504$56,278$54,150$52,116$50,171$48,039
5 years$46,335$44,123$42,023$40,030$38,139$36,084
6 years$38,225$36,030$33,961$32,013$30,178$28,202
7 years$32,435$30,258$28,222$26,319$24,543$22,647
8 years$28,094$25,936$23,934$22,079$20,361$18,545
9 years$24,720$22,582$20,614$18,806$17,147$15,410
10 years$22,022$19,905$17,972$16,211$14,610$12,951
11 years$19,816$17,720$15,822$14,108$12,565$10,984
12 years$17,979$15,905$14,042$12,375$10,889$9,383
13 years$16,425$14,373$12,546$10,925$9,495$8,063
14 years$15,095$13,065$11,272$9,698$8,323$6,963
15 years$13,944$11,935$10,177$8,649$7,329$6,038
16 years$12,937$10,950$9,227$7,744$6,477$5,254
17 years$12,049$10,085$8,396$6,958$5,743$4,586
18 years$11,261$9,319$7,665$6,271$5,106$4,012
19 years$10,557$8,637$7,017$5,666$4,551$3,518
20 years$9,924$8,025$6,440$5,132$4,065$3,091
21 years$9,352$7,475$5,923$4,657$3,638$2,720
22 years$8,833$6,978$5,459$4,235$3,261$2,397
23 years$8,360$6,526$5,041$3,857$2,927$2,115
24 years$7,926$6,115$4,662$3,517$2,631$1,868
25 years$7,528$5,738$4,318$3,212$2,368$1,651
26 years$7,161$5,393$4,004$2,937$2,133$1,461
27 years$6,822$5,076$3,718$2,688$1,923$1,294
28 years$6,508$4,783$3,457$2,463$1,735$1,146
29 years$6,216$4,512$3,217$2,259$1,567$1,016
30 years$5,944$4,261$2,996$2,073$1,416$902
31 years$5,690$4,028$2,793$1,904$1,280$800
32 years$5,452$3,811$2,606$1,750$1,158$710
33 years$5,229$3,609$2,434$1,609$1,048$631
34 years$5,020$3,421$2,274$1,480$949$560
35 years$4,823$3,245$2,126$1,363$859$498
36 years$4,638$3,080$1,989$1,255$778$442
37 years$4,463$2,925$1,861$1,156$706$393
38 years$4,297$2,780$1,743$1,066$640$350
39 years$4,140$2,643$1,633$983$580$311
40 years$3,992$2,515$1,531$907$526$277
41 years$3,851$2,394$1,435$836$477$246
42 years$3,718$2,280$1,346$772$433$219
43 years$3,590$2,172$1,263$713$393$195
44 years$3,469$2,071$1,186$658$357$173
45 years$3,354$1,975$1,113$608$324$154
46 years$3,244$1,884$1,046$561$294$137
47 years$3,139$1,798$983$519$267$122
48 years$3,039$1,716$923$479$243$109
49 years$2,943$1,639$868$443$220$97
50 years$2,851$1,565$816$409$200$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,920,000, adding $2,103 every year, while hoping to spend $37,912 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: 42/32/26 Blend
54$2,920,000$2,920,000$2,920,000$2,920,000
55$3,220,009$3,065,249$3,019,989$3,330,647
56$3,508,112$3,175,108$3,080,821$3,520,074
57$3,824,331$3,289,080$3,142,420$3,721,329
58$4,171,493$3,407,325$3,204,771$3,938,544
59$4,552,714$3,530,013$3,267,860$4,173,216
60$4,971,425$3,657,318$3,331,667$4,426,985
61$5,431,406$3,789,422$3,396,174$4,701,658
62$5,936,821$3,926,516$3,461,357$4,999,219
63$6,492,258$4,068,796$3,527,194$5,321,852
64$7,102,771$4,216,470$3,593,658$5,671,959
65$7,773,928$4,369,751$3,660,719$6,052,180
66$8,511,863$4,528,863$3,728,348$6,465,422
67$9,323,335$4,694,039$3,796,509$6,914,882
68$10,215,789$4,865,521$3,865,166$7,404,078
69$11,197,431$5,043,562$3,934,280$7,936,881
70$12,277,298$5,228,426$4,003,808$8,517,552
71$13,465,350$5,420,387$4,073,703$9,150,781
72$14,772,560$5,619,730$4,143,916$9,841,729
73$16,211,018$5,826,754$4,214,395$10,596,077
74$17,794,046$6,041,770$4,285,082$11,420,081
75$19,536,323$6,265,100$4,355,916$12,320,627
76$21,454,021$6,497,083$4,426,832$13,305,297
77$23,564,962$6,738,071$4,497,762$14,382,438
78$25,888,782$6,988,430$4,568,630$15,561,242
79$28,447,117$7,248,543$4,639,359$16,851,831
80$31,263,810$7,518,808$4,709,864$18,265,351
81$34,365,130$7,799,641$4,780,056$19,814,078
82$37,780,026$8,091,476$4,849,841$21,511,529
83$41,540,395$8,394,766$4,919,117$23,372,593
84$45,681,387$8,709,980$4,987,779$25,413,668
85$50,241,731$9,037,612$5,055,713$27,652,815
86$55,264,108$9,378,175$5,122,799$30,109,929
87$60,795,544$9,732,203$5,188,910$32,806,921
88$66,887,864$10,100,256$5,253,913$35,767,928
89$73,598,173$10,482,915$5,317,666$39,019,540
90$80,989,397$10,880,788$5,380,018$42,591,045
91$89,130,879$11,294,510$5,440,812$46,514,708
92$98,099,030$11,724,742$5,499,880$50,826,072
93$107,978,051$12,172,174$5,557,046$55,564,294
94$118,860,729$12,637,528$5,612,124$60,772,512
95$130,849,311$13,121,555$5,664,919$66,498,249
96$144,056,470$13,625,040$5,715,222$72,793,864
97$158,606,365$14,148,803$5,762,818$79,717,039
98$174,635,818$14,693,698$5,807,476$87,331,326
99$192,295,601$15,260,618$5,848,955$95,706,744
100$211,751,860$15,850,496$5,887,003$104,920,437