Can I retire at age 55 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$246,086$243,894$241,755$239,668$237,629$230,115
2 years$121,825$119,556$117,357$115,225$113,157$105,654
3 years$80,410$78,131$75,938$73,826$71,791$64,536
4 years$59,706$57,435$55,263$53,187$51,202$44,250
5 years$47,287$45,029$42,886$40,853$38,923$32,292
6 years$39,011$36,770$34,659$32,670$30,799$24,495
7 years$33,101$30,879$28,801$26,860$25,047$19,070
8 years$28,671$26,469$24,426$22,532$20,779$15,125
9 years$25,228$23,046$21,038$19,193$17,499$12,161
10 years$22,474$20,314$18,341$16,544$14,910$9,880
11 years$20,223$18,084$16,148$14,398$12,823$8,092
12 years$18,348$16,232$14,331$12,629$11,112$6,670
13 years$16,763$14,669$12,803$11,150$9,690$5,526
14 years$15,405$13,333$11,504$9,898$8,494$4,598
15 years$14,230$12,180$10,386$8,827$7,479$3,838
16 years$13,203$11,175$9,417$7,903$6,610$3,212
17 years$12,297$10,292$8,569$7,101$5,861$2,695
18 years$11,493$9,510$7,822$6,400$5,211$2,265
19 years$10,774$8,814$7,161$5,783$4,645$1,907
20 years$10,128$8,190$6,572$5,237$4,149$1,608
21 years$9,544$7,629$6,045$4,753$3,713$1,357
22 years$9,014$7,121$5,571$4,322$3,328$1,146
23 years$8,531$6,661$5,144$3,936$2,987$969
24 years$8,089$6,240$4,757$3,590$2,685$819
25 years$7,683$5,856$4,406$3,278$2,416$693
26 years$7,309$5,504$4,087$2,998$2,176$587
27 years$6,963$5,180$3,795$2,744$1,962$497
28 years$6,642$4,881$3,528$2,514$1,771$421
29 years$6,344$4,605$3,283$2,305$1,599$357
30 years$6,066$4,349$3,058$2,116$1,445$303
31 years$5,807$4,111$2,851$1,943$1,306$257
32 years$5,564$3,890$2,660$1,786$1,181$218
33 years$5,337$3,684$2,484$1,642$1,069$185
34 years$5,123$3,491$2,320$1,511$968$157
35 years$4,922$3,311$2,169$1,391$877$133
36 years$4,733$3,143$2,029$1,281$794$113
37 years$4,554$2,985$1,900$1,180$720$96
38 years$4,385$2,837$1,779$1,088$653$81
39 years$4,226$2,698$1,667$1,003$592$69
40 years$4,074$2,567$1,562$925$537$59
41 years$3,930$2,443$1,465$854$487$50
42 years$3,794$2,327$1,374$788$442$42
43 years$3,664$2,217$1,289$727$401$36
44 years$3,541$2,113$1,210$671$364$30
45 years$3,423$2,015$1,136$620$331$26
46 years$3,311$1,922$1,067$573$300$22
47 years$3,204$1,835$1,003$529$273$19
48 years$3,101$1,751$942$489$247$16
49 years$3,003$1,672$886$452$225$13
50 years$2,910$1,598$833$418$204$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $2,980,000, adding $4,436 every year, while hoping to spend $36,220 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: 79/16/5 Blend
54$2,980,000$2,980,000$2,980,000$2,980,000
55$3,288,536$3,130,596$3,084,406$3,547,347
56$3,585,429$3,245,457$3,149,196$3,832,327
57$3,911,391$3,364,733$3,214,942$4,139,629
58$4,269,348$3,488,601$3,281,638$4,475,609
59$4,662,526$3,617,247$3,349,278$4,843,106
60$5,094,476$3,750,864$3,417,851$5,245,242
61$5,569,111$3,889,654$3,487,347$5,685,459
62$6,090,740$4,033,827$3,557,753$6,167,543
63$6,664,114$4,183,603$3,629,056$6,695,666
64$7,294,463$4,339,209$3,701,239$7,274,418
65$7,987,553$4,500,885$3,774,285$7,908,858
66$8,749,732$4,668,877$3,848,172$8,604,555
67$9,587,999$4,843,446$3,922,880$9,367,643
68$10,510,061$5,024,861$3,998,383$10,204,876
69$11,524,412$5,213,405$4,074,654$11,123,695
70$12,640,411$5,409,370$4,151,663$12,132,295
71$13,868,367$5,613,063$4,229,378$13,239,701
72$15,219,642$5,824,805$4,307,763$14,455,858
73$16,706,753$6,044,928$4,386,781$15,791,715
74$18,343,492$6,273,780$4,466,389$17,259,337
75$20,145,058$6,511,724$4,546,542$18,872,013
76$22,128,194$6,759,139$4,627,192$20,644,384
77$24,311,354$7,016,421$4,708,287$22,592,575
78$26,714,867$7,283,981$4,789,769$24,734,353
79$29,361,137$7,562,249$4,871,580$27,089,291
80$32,274,849$7,851,676$4,953,654$29,678,952
81$35,483,204$8,152,729$5,035,923$32,527,092
82$39,016,176$8,465,897$5,118,311$35,659,884
83$42,906,792$8,791,692$5,200,740$39,106,162
84$47,191,446$9,130,646$5,283,126$42,897,697
85$51,910,242$9,483,316$5,365,379$47,069,489
86$57,107,371$9,850,283$5,447,404$51,660,105
87$62,831,530$10,232,154$5,529,098$56,712,035
88$69,136,377$10,629,560$5,610,355$62,272,095
89$76,081,044$11,043,165$5,691,058$68,391,867
90$83,730,688$11,473,659$5,771,087$75,128,189
91$92,157,112$11,921,761$5,850,311$82,543,682
92$101,439,437$12,388,227$5,928,596$90,707,349
93$111,664,851$12,873,842$6,005,796$99,695,219
94$122,929,433$13,379,427$6,081,757$109,591,067
95$135,339,058$13,905,842$6,156,319$120,487,199
96$149,010,395$14,453,981$6,229,309$132,485,330
97$164,072,011$15,024,782$6,300,547$145,697,535
98$180,665,583$15,619,223$6,369,842$160,247,309
99$198,947,234$16,238,326$6,436,992$176,270,730
100$219,089,006$16,883,158$6,501,785$193,917,746