Can I retire at age 55 with 2,930,000?

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 $2,930,000?

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 years$241,957$239,801$237,699$235,646$233,642$231,685
2 years$119,781$117,550$115,388$113,292$111,258$109,285
3 years$79,060$76,820$74,664$72,587$70,587$68,660
4 years$58,704$56,471$54,336$52,295$50,343$48,476
5 years$46,494$44,274$42,167$40,167$38,270$36,469
6 years$38,356$36,153$34,077$32,122$30,282$28,550
7 years$32,546$30,361$28,318$26,409$24,627$22,964
8 years$28,190$26,025$24,016$22,154$20,431$18,837
9 years$24,804$22,660$20,685$18,870$17,206$15,680
10 years$22,097$19,973$18,034$16,267$14,660$13,202
11 years$19,884$17,781$15,877$14,157$12,608$11,217
12 years$18,040$15,959$14,090$12,417$10,926$9,600
13 years$16,482$14,423$12,589$10,963$9,528$8,266
14 years$15,147$13,110$11,311$9,731$8,352$7,152
15 years$13,991$11,976$10,212$8,679$7,354$6,215
16 years$12,981$10,988$9,259$7,771$6,499$5,419
17 years$12,091$10,119$8,425$6,982$5,763$4,740
18 years$11,300$9,351$7,691$6,292$5,124$4,156
19 years$10,593$8,666$7,041$5,686$4,567$3,652
20 years$9,958$8,053$6,462$5,149$4,079$3,216
21 years$9,384$7,501$5,944$4,673$3,651$2,836
22 years$8,863$7,002$5,478$4,249$3,272$2,505
23 years$8,388$6,549$5,058$3,870$2,937$2,215
24 years$7,953$6,136$4,678$3,530$2,640$1,961
25 years$7,554$5,758$4,332$3,223$2,376$1,738
26 years$7,186$5,412$4,018$2,947$2,140$1,541
27 years$6,846$5,093$3,731$2,698$1,929$1,368
28 years$6,530$4,799$3,469$2,472$1,741$1,215
29 years$6,237$4,527$3,228$2,267$1,572$1,080
30 years$5,964$4,276$3,007$2,080$1,420$960
31 years$5,709$4,042$2,803$1,910$1,284$854
32 years$5,471$3,824$2,615$1,756$1,162$760
33 years$5,247$3,622$2,442$1,615$1,051$677
34 years$5,037$3,433$2,282$1,486$952$603
35 years$4,840$3,256$2,133$1,368$862$537
36 years$4,654$3,090$1,995$1,259$781$478
37 years$4,478$2,935$1,868$1,160$708$426
38 years$4,312$2,789$1,749$1,070$642$380
39 years$4,155$2,652$1,639$986$582$339
40 years$4,006$2,524$1,536$910$528$302
41 years$3,865$2,402$1,440$839$479$269
42 years$3,730$2,288$1,351$775$435$240
43 years$3,603$2,180$1,268$715$394$214
44 years$3,481$2,078$1,190$660$358$191
45 years$3,366$1,981$1,117$610$325$171
46 years$3,255$1,890$1,049$563$295$152
47 years$3,150$1,804$986$520$268$136
48 years$3,049$1,722$926$481$243$121
49 years$2,953$1,644$871$444$221$108
50 years$2,861$1,571$819$411$201$97

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,930,000, adding $2,653 every year, while hoping to spend $50,995 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: 40/42/18 Blend
54$2,930,000$2,930,000$2,930,000$2,930,000
55$3,231,597$3,076,307$3,030,892$3,343,499
56$3,506,961$3,172,787$3,078,168$3,520,024
57$3,808,704$3,272,286$3,125,319$3,705,757
58$4,139,461$3,374,898$3,172,287$3,905,619
59$4,502,137$3,480,719$3,219,010$4,120,924
60$4,899,931$3,589,850$3,265,422$4,353,113
61$5,336,364$3,702,393$3,311,454$4,603,770
62$5,815,318$3,818,455$3,357,032$4,874,641
63$6,341,066$3,938,145$3,402,079$5,167,643
64$6,918,317$4,061,576$3,446,511$5,484,885
65$7,552,257$4,188,866$3,490,241$5,828,690
66$8,248,600$4,320,132$3,533,177$6,201,611
67$9,013,639$4,455,501$3,575,220$6,606,459
68$9,854,308$4,595,098$3,616,268$7,046,328
69$10,778,246$4,739,056$3,656,211$7,524,623
70$11,793,867$4,887,510$3,694,934$8,045,091
71$12,910,443$5,040,600$3,732,316$8,611,858
72$14,138,189$5,198,470$3,768,229$9,229,467
73$15,488,357$5,361,268$3,802,538$9,902,918
74$16,973,347$5,529,147$3,835,100$10,637,719
75$18,606,819$5,702,266$3,865,766$11,439,932
76$20,403,824$5,880,786$3,894,379$12,316,235
77$22,380,945$6,064,876$3,920,772$13,273,980
78$24,556,455$6,254,708$3,944,771$14,321,266
79$26,950,485$6,450,461$3,966,192$15,467,013
80$29,585,218$6,652,317$3,984,844$16,721,042
81$32,485,096$6,860,466$4,000,522$18,094,174
82$35,677,051$7,075,104$4,013,014$19,598,327
83$39,190,757$7,296,431$4,022,097$21,246,628
84$43,058,912$7,524,654$4,027,536$23,053,539
85$47,317,547$7,759,988$4,029,083$25,034,991
86$52,006,360$8,002,651$4,026,481$27,208,532
87$57,169,099$8,252,871$4,019,459$29,593,495
88$62,853,967$8,510,882$4,007,731$32,211,179
89$69,114,081$8,776,924$3,990,999$35,085,048
90$76,007,970$9,051,246$3,968,950$38,240,954
91$83,600,130$9,334,104$3,941,257$41,707,379
92$91,961,630$9,625,762$3,907,575$45,515,702
93$101,170,782$9,926,490$3,867,545$49,700,496
94$111,313,884$10,236,570$3,820,790$54,299,855
95$122,486,028$10,556,290$3,766,914$59,355,751
96$134,792,002$10,885,947$3,705,505$64,914,426
97$148,347,275$11,225,848$3,636,129$71,026,837
98$163,279,091$11,576,309$3,558,333$77,749,126
99$179,727,665$11,937,654$3,471,644$85,143,156
100$197,847,508$12,310,220$3,375,564$93,277,091