Can I retire at age 53 with 1,940,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$160,203$158,776$157,384$156,025$154,698$149,447
2 years$79,309$77,832$76,400$75,012$73,666$68,428
3 years$52,347$50,864$49,436$48,061$46,737$41,677
4 years$38,869$37,390$35,977$34,625$33,333$28,490
5 years$30,784$29,314$27,919$26,596$25,339$20,725
6 years$25,396$23,937$22,563$21,269$20,050$15,669
7 years$21,549$20,103$18,750$17,486$16,306$12,158
8 years$18,665$17,232$15,901$14,669$13,527$9,608
9 years$16,423$15,003$13,696$12,494$11,392$7,697
10 years$14,631$13,225$11,940$10,770$9,707$6,230
11 years$13,165$11,773$10,512$9,373$8,348$5,083
12 years$11,945$10,567$9,329$8,222$7,234$4,173
13 years$10,913$9,549$8,335$7,259$6,308$3,443
14 years$10,029$8,680$7,489$6,443$5,530$2,853
15 years$9,264$7,929$6,762$5,746$4,869$2,371
16 years$8,595$7,275$6,130$5,145$4,303$1,976
17 years$8,005$6,700$5,578$4,623$3,816$1,651
18 years$7,482$6,191$5,092$4,166$3,393$1,381
19 years$7,014$5,738$4,662$3,765$3,024$1,158
20 years$6,593$5,332$4,278$3,409$2,701$971
21 years$6,213$4,967$3,935$3,094$2,417$816
22 years$5,868$4,636$3,627$2,813$2,167$686
23 years$5,554$4,336$3,349$2,562$1,945$577
24 years$5,266$4,063$3,097$2,337$1,748$486
25 years$5,002$3,813$2,869$2,134$1,573$409
26 years$4,758$3,583$2,660$1,951$1,417$345
27 years$4,533$3,372$2,470$1,786$1,277$291
28 years$4,324$3,178$2,297$1,637$1,153$245
29 years$4,130$2,998$2,137$1,501$1,041$207
30 years$3,949$2,831$1,991$1,377$940$174
31 years$3,780$2,676$1,856$1,265$850$147
32 years$3,622$2,532$1,732$1,163$769$124
33 years$3,474$2,398$1,617$1,069$696$105
34 years$3,335$2,273$1,511$984$630$88
35 years$3,204$2,156$1,412$905$571$75
36 years$3,081$2,046$1,321$834$517$63
37 years$2,965$1,943$1,237$768$469$53
38 years$2,855$1,847$1,158$708$425$45
39 years$2,751$1,756$1,085$653$385$38
40 years$2,652$1,671$1,017$602$350$32
41 years$2,559$1,591$954$556$317$27
42 years$2,470$1,515$894$513$288$23
43 years$2,385$1,443$839$473$261$19
44 years$2,305$1,376$788$437$237$16
45 years$2,228$1,312$740$404$215$14
46 years$2,155$1,251$695$373$195$12
47 years$2,086$1,194$653$345$177$10
48 years$2,019$1,140$613$318$161$8
49 years$1,955$1,089$577$294$146$7
50 years$1,894$1,040$542$272$133$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,940,000, adding $4,263 every year, while hoping to spend $27,972 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: 42/29/29 Blend
52$1,940,000$1,940,000$1,940,000$1,940,000
53$2,142,277$2,039,457$2,009,387$2,213,905
54$2,331,028$2,109,629$2,046,940$2,336,149
55$2,538,093$2,182,301$2,084,813$2,465,508
56$2,765,312$2,257,567$2,122,987$2,605,077
57$3,014,710$2,335,524$2,161,444$2,755,816
58$3,288,517$2,416,272$2,200,159$2,918,781
59$3,589,192$2,499,915$2,239,110$3,095,136
60$3,919,440$2,586,562$2,278,271$3,286,157
61$4,282,245$2,676,325$2,317,615$3,493,252
62$4,680,891$2,769,322$2,357,112$3,717,967
63$5,118,997$2,865,674$2,396,731$3,962,006
64$5,600,550$2,965,508$2,436,437$4,227,242
65$6,129,944$3,068,955$2,476,195$4,515,738
66$6,712,018$3,176,153$2,515,967$4,829,764
67$7,352,102$3,287,244$2,555,711$5,171,818
68$8,056,072$3,402,374$2,595,383$5,544,651
69$8,830,400$3,521,699$2,634,937$5,951,293
70$9,682,217$3,645,378$2,674,323$6,395,076
71$10,619,379$3,773,577$2,713,488$6,879,673
72$11,650,543$3,906,470$2,752,378$7,409,126
73$12,785,247$4,044,236$2,790,931$7,987,887
74$14,034,001$4,187,063$2,829,086$8,620,858
75$15,408,385$4,335,145$2,866,777$9,313,439
76$16,921,158$4,488,684$2,903,931$10,071,575
77$18,586,379$4,647,893$2,940,476$10,901,815
78$20,419,540$4,812,989$2,976,331$11,811,373
79$22,437,709$4,984,202$3,011,415$12,808,194
80$24,659,696$5,161,768$3,045,638$13,901,029
81$27,106,225$5,345,936$3,078,907$15,099,518
82$29,800,135$5,536,961$3,111,125$16,414,280
83$32,766,590$5,735,113$3,142,189$17,857,013
84$36,033,318$5,940,670$3,171,988$19,440,603
85$39,630,875$6,153,922$3,200,409$21,179,246
86$43,592,932$6,375,171$3,227,330$23,088,583
87$47,956,589$6,604,732$3,252,623$25,185,842
88$52,762,729$6,842,933$3,276,155$27,490,007
89$58,056,406$7,090,114$3,297,784$30,021,989
90$63,887,261$7,346,632$3,317,362$32,804,831
91$70,310,000$7,612,855$3,334,732$35,863,917
92$77,384,906$7,889,171$3,349,731$39,227,216
93$85,178,405$8,175,979$3,362,185$42,925,545
94$93,763,698$8,473,698$3,371,915$46,992,858
95$103,221,450$8,782,764$3,378,729$51,466,563
96$113,640,549$9,103,630$3,382,427$56,387,882
97$125,118,948$9,436,771$3,382,801$61,802,230
98$137,764,585$9,782,677$3,379,630$67,759,652
99$151,696,408$10,141,864$3,372,682$74,315,288
100$167,045,492$10,514,865$3,361,717$81,529,895