Can I retire at age 55 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$243,608$241,438$239,321$237,255$235,237$230,205
2 years$120,598$118,352$116,175$114,065$112,018$106,973
3 years$79,600$77,344$75,173$73,082$71,069$66,168
4 years$59,105$56,856$54,707$52,652$50,687$45,968
5 years$46,811$44,576$42,455$40,442$38,531$34,008
6 years$38,618$36,400$34,310$32,341$30,488$26,166
7 years$32,768$30,568$28,512$26,590$24,795$20,673
8 years$28,383$26,203$24,180$22,305$20,570$16,648
9 years$24,974$22,814$20,826$18,999$17,323$13,598
10 years$22,248$20,110$18,157$16,378$14,760$11,228
11 years$20,019$17,902$15,985$14,253$12,694$9,351
12 years$18,163$16,068$14,186$12,502$11,000$7,840
13 years$16,594$14,521$12,674$11,038$9,593$6,610
14 years$15,250$13,199$11,388$9,798$8,409$5,599
15 years$14,087$12,058$10,282$8,738$7,404$4,759
16 years$13,070$11,063$9,322$7,824$6,544$4,059
17 years$12,173$10,188$8,483$7,030$5,802$3,470
18 years$11,377$9,414$7,744$6,335$5,159$2,973
19 years$10,666$8,725$7,089$5,724$4,598$2,552
20 years$10,026$8,108$6,506$5,185$4,107$2,194
21 years$9,448$7,552$5,984$4,705$3,675$1,889
22 years$8,924$7,050$5,515$4,278$3,295$1,628
23 years$8,445$6,593$5,092$3,896$2,957$1,405
24 years$8,008$6,178$4,710$3,554$2,658$1,213
25 years$7,606$5,797$4,362$3,245$2,392$1,048
26 years$7,235$5,449$4,046$2,967$2,155$906
27 years$6,892$5,128$3,757$2,716$1,943$784
28 years$6,575$4,832$3,492$2,489$1,753$679
29 years$6,280$4,558$3,250$2,282$1,583$588
30 years$6,005$4,305$3,027$2,094$1,430$509
31 years$5,748$4,070$2,822$1,923$1,293$441
32 years$5,508$3,851$2,633$1,768$1,170$382
33 years$5,283$3,647$2,459$1,626$1,058$331
34 years$5,072$3,456$2,297$1,496$958$287
35 years$4,873$3,278$2,148$1,377$868$249
36 years$4,685$3,111$2,009$1,268$786$216
37 years$4,508$2,955$1,880$1,168$713$187
38 years$4,341$2,808$1,761$1,077$646$162
39 years$4,183$2,671$1,650$993$586$141
40 years$4,033$2,541$1,546$916$531$122
41 years$3,891$2,419$1,450$845$482$106
42 years$3,756$2,303$1,360$780$438$92
43 years$3,627$2,195$1,276$720$397$80
44 years$3,505$2,092$1,198$665$360$69
45 years$3,388$1,995$1,125$614$327$60
46 years$3,277$1,903$1,057$567$297$52
47 years$3,171$1,816$993$524$270$45
48 years$3,070$1,734$933$484$245$39
49 years$2,973$1,656$877$447$223$34
50 years$2,880$1,581$824$414$202$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,950,000, adding $6,145 every year, while hoping to spend $53,668 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: 71/22/7 Blend
54$2,950,000$2,950,000$2,950,000$2,950,000
55$3,257,239$3,100,889$3,055,164$3,484,635
56$3,532,375$3,195,730$3,100,409$3,730,495
57$3,833,776$3,293,419$3,145,372$3,992,269
58$4,164,064$3,394,041$3,189,985$4,277,301
59$4,526,129$3,497,678$3,234,180$4,587,866
60$4,923,149$3,604,420$3,277,880$4,926,467
61$5,358,630$3,714,356$3,321,009$5,295,861
62$5,836,429$3,827,578$3,363,481$5,699,082
63$6,360,797$3,944,182$3,405,210$6,139,472
64$6,936,416$4,064,264$3,446,102$6,620,710
65$7,568,442$4,187,925$3,486,059$7,146,847
66$8,262,558$4,315,268$3,524,976$7,722,344
67$9,025,020$4,446,398$3,562,744$8,352,114
68$9,862,724$4,581,423$3,599,248$9,041,568
69$10,783,264$4,720,454$3,634,364$9,796,666
70$11,795,006$4,863,606$3,667,965$10,623,972
71$12,907,170$5,010,996$3,699,915$11,530,714
72$14,129,910$5,162,744$3,730,071$12,524,858
73$15,474,416$5,318,973$3,758,283$13,615,174
74$16,953,013$5,479,809$3,784,393$14,811,325
75$18,579,284$5,645,384$3,808,233$16,123,957
76$20,368,192$5,815,828$3,829,630$17,564,795
77$22,336,224$5,991,280$3,848,399$19,146,757
78$24,501,545$6,171,880$3,864,347$20,884,076
79$26,884,170$6,357,769$3,877,270$22,792,428
80$29,506,153$6,549,097$3,886,956$24,889,089
81$32,391,791$6,746,013$3,893,179$27,193,089
82$35,567,858$6,948,673$3,895,706$29,725,394
83$39,063,856$7,157,234$3,894,288$32,509,106
84$42,912,290$7,371,859$3,888,667$35,569,678
85$47,148,978$7,592,714$3,878,572$38,935,153
86$51,813,386$7,819,970$3,863,716$42,636,428
87$56,949,003$8,053,800$3,843,803$46,707,551
88$62,603,749$8,294,384$3,818,517$51,186,032
89$68,830,426$8,541,903$3,787,532$56,113,205
90$75,687,218$8,796,546$3,750,504$61,534,612
91$83,238,240$9,058,502$3,707,072$67,500,437
92$91,554,141$9,327,969$3,656,859$74,065,974
93$100,712,770$9,605,146$3,599,470$81,292,154
94$110,799,912$9,890,238$3,534,492$89,246,113
95$121,910,098$10,183,454$3,461,492$98,001,832
96$134,147,493$10,485,009$3,380,018$107,640,829
97$147,626,884$10,795,121$3,289,594$118,252,932
98$162,474,757$11,114,013$3,189,727$129,937,123
99$178,830,497$11,441,913$3,079,897$142,802,473
100$196,847,696$11,779,056$2,959,562$156,969,174