Can I retire at age 55 with 2,970,000?

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 $2,970,000?

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$245,260$243,075$240,944$238,863$236,832$229,067
2 years$121,416$119,154$116,963$114,838$112,777$105,029
3 years$80,140$77,869$75,683$73,578$71,550$64,061
4 years$59,506$57,242$55,078$53,009$51,030$43,858
5 years$47,129$44,878$42,743$40,716$38,792$31,955
6 years$38,880$36,646$34,542$32,561$30,695$24,199
7 years$32,990$30,776$28,705$26,770$24,963$18,808
8 years$28,575$26,380$24,344$22,457$20,710$14,890
9 years$25,143$22,969$20,967$19,128$17,440$11,951
10 years$22,399$20,246$18,280$16,489$14,860$9,691
11 years$20,155$18,024$16,093$14,350$12,780$7,922
12 years$18,286$16,177$14,282$12,587$11,075$6,517
13 years$16,707$14,619$12,760$11,112$9,658$5,388
14 years$15,354$13,289$11,465$9,864$8,466$4,473
15 years$14,182$12,139$10,352$8,797$7,454$3,726
16 years$13,158$11,138$9,385$7,877$6,588$3,112
17 years$12,256$10,257$8,540$7,077$5,841$2,605
18 years$11,454$9,478$7,796$6,378$5,194$2,185
19 years$10,738$8,784$7,137$5,763$4,629$1,835
20 years$10,094$8,163$6,550$5,220$4,135$1,544
21 years$9,512$7,603$6,025$4,737$3,700$1,300
22 years$8,984$7,098$5,553$4,307$3,317$1,095
23 years$8,503$6,638$5,127$3,923$2,977$924
24 years$8,062$6,220$4,742$3,578$2,676$779
25 years$7,657$5,837$4,392$3,267$2,408$658
26 years$7,284$5,486$4,073$2,987$2,169$556
27 years$6,939$5,163$3,782$2,735$1,956$470
28 years$6,619$4,865$3,516$2,505$1,765$397
29 years$6,322$4,589$3,272$2,298$1,593$336
30 years$6,046$4,334$3,048$2,109$1,440$284
31 years$5,787$4,097$2,841$1,937$1,302$240
32 years$5,545$3,877$2,651$1,780$1,177$203
33 years$5,319$3,671$2,475$1,637$1,066$172
34 years$5,106$3,480$2,313$1,506$965$145
35 years$4,906$3,300$2,162$1,386$874$123
36 years$4,717$3,132$2,023$1,277$792$104
37 years$4,539$2,975$1,893$1,176$718$88
38 years$4,371$2,827$1,773$1,084$651$75
39 years$4,211$2,689$1,661$1,000$590$63
40 years$4,060$2,558$1,557$922$535$53
41 years$3,917$2,435$1,460$851$485$45
42 years$3,781$2,319$1,369$785$441$38
43 years$3,652$2,210$1,285$725$400$32
44 years$3,529$2,106$1,206$669$363$27
45 years$3,411$2,008$1,133$618$329$23
46 years$3,300$1,916$1,064$571$299$20
47 years$3,193$1,828$999$527$272$17
48 years$3,091$1,745$939$487$247$14
49 years$2,993$1,667$883$450$224$12
50 years$2,900$1,592$830$416$203$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,970,000, adding $4,901 every year, while hoping to spend $27,327 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: 56/32/12 Blend
54$2,970,000$2,970,000$2,970,000$2,970,000
55$3,277,995$3,120,585$3,074,550$3,451,352
56$3,583,275$3,244,418$3,148,472$3,693,104
57$3,918,778$3,373,403$3,223,954$3,952,879
58$4,287,557$3,507,764$3,301,020$4,235,192
59$4,692,977$3,647,733$3,379,694$4,542,202
60$5,138,744$3,793,556$3,459,998$4,876,280
61$5,628,943$3,945,488$3,541,955$5,240,036
62$6,168,073$4,103,794$3,625,588$5,636,339
63$6,761,091$4,268,754$3,710,919$6,068,343
64$7,413,459$4,440,660$3,797,971$6,539,521
65$8,131,194$4,619,815$3,886,766$7,053,691
66$8,920,928$4,806,538$3,977,325$7,615,055
67$9,789,965$5,001,161$4,069,668$8,228,235
68$10,746,356$5,204,032$4,163,817$8,898,318
69$11,798,971$5,415,516$4,259,790$9,630,903
70$12,957,581$5,635,991$4,357,608$10,432,150
71$14,232,955$5,865,856$4,457,290$11,308,842
72$15,636,960$6,105,526$4,558,852$12,268,441
73$17,182,668$6,355,435$4,662,312$13,319,165
74$18,884,487$6,616,038$4,767,686$14,470,058
75$20,758,291$6,887,810$4,874,990$15,731,079
76$22,821,572$7,171,248$4,984,237$17,113,191
77$25,093,604$7,466,872$5,095,441$18,628,465
78$27,595,627$7,775,224$5,208,614$20,290,192
79$30,351,044$8,096,873$5,323,766$22,113,006
80$33,385,645$8,432,414$5,440,906$24,113,025
81$36,727,847$8,782,469$5,560,043$26,307,995
82$40,408,965$9,147,687$5,681,182$28,717,459
83$44,463,506$9,528,750$5,804,328$31,362,943
84$48,929,494$9,926,369$5,929,483$34,268,150
85$53,848,830$10,341,289$6,056,648$37,459,190
86$59,267,687$10,774,288$6,185,822$40,964,817
87$65,236,945$11,226,182$6,317,001$44,816,705
88$71,812,672$11,697,824$6,450,179$49,049,738
89$79,056,652$12,190,105$6,585,348$53,702,346
90$87,036,969$12,703,959$6,722,496$58,816,855
91$95,828,650$13,240,363$6,861,609$64,439,891
92$105,514,370$13,800,338$7,002,671$70,622,819
93$116,185,236$14,384,956$7,145,661$77,422,217
94$127,941,646$14,995,334$7,290,556$84,900,415
95$140,894,233$15,632,644$7,437,329$93,126,080
96$155,164,914$16,298,113$7,585,949$102,174,854
97$170,888,037$16,993,023$7,736,380$112,130,075
98$188,211,653$17,718,717$7,888,585$123,083,553
99$207,298,908$18,476,600$8,042,519$135,136,436
100$228,329,588$19,268,145$8,198,134$148,400,161