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

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 $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%12.7%
1 years$160,203$158,776$157,384$156,025$154,698$152,956
2 years$79,309$77,832$76,400$75,012$73,666$71,911
3 years$52,347$50,864$49,436$48,061$46,737$45,025
4 years$38,869$37,390$35,977$34,625$33,333$31,677
5 years$30,784$29,314$27,919$26,596$25,339$23,744
6 years$25,396$23,937$22,563$21,269$20,050$18,518
7 years$21,549$20,103$18,750$17,486$16,306$14,837
8 years$18,665$17,232$15,901$14,669$13,527$12,122
9 years$16,423$15,003$13,696$12,494$11,392$10,049
10 years$14,631$13,225$11,940$10,770$9,707$8,426
11 years$13,165$11,773$10,512$9,373$8,348$7,128
12 years$11,945$10,567$9,329$8,222$7,234$6,073
13 years$10,913$9,549$8,335$7,259$6,308$5,206
14 years$10,029$8,680$7,489$6,443$5,530$4,484
15 years$9,264$7,929$6,762$5,746$4,869$3,877
16 years$8,595$7,275$6,130$5,145$4,303$3,365
17 years$8,005$6,700$5,578$4,623$3,816$2,929
18 years$7,482$6,191$5,092$4,166$3,393$2,555
19 years$7,014$5,738$4,662$3,765$3,024$2,234
20 years$6,593$5,332$4,278$3,409$2,701$1,957
21 years$6,213$4,967$3,935$3,094$2,417$1,717
22 years$5,868$4,636$3,627$2,813$2,167$1,508
23 years$5,554$4,336$3,349$2,562$1,945$1,327
24 years$5,266$4,063$3,097$2,337$1,748$1,168
25 years$5,002$3,813$2,869$2,134$1,573$1,030
26 years$4,758$3,583$2,660$1,951$1,417$908
27 years$4,533$3,372$2,470$1,786$1,277$802
28 years$4,324$3,178$2,297$1,637$1,153$708
29 years$4,130$2,998$2,137$1,501$1,041$626
30 years$3,949$2,831$1,991$1,377$940$553
31 years$3,780$2,676$1,856$1,265$850$489
32 years$3,622$2,532$1,732$1,163$769$433
33 years$3,474$2,398$1,617$1,069$696$383
34 years$3,335$2,273$1,511$984$630$339
35 years$3,204$2,156$1,412$905$571$300
36 years$3,081$2,046$1,321$834$517$266
37 years$2,965$1,943$1,237$768$469$236
38 years$2,855$1,847$1,158$708$425$209
39 years$2,751$1,756$1,085$653$385$185
40 years$2,652$1,671$1,017$602$350$164
41 years$2,559$1,591$954$556$317$145
42 years$2,470$1,515$894$513$288$129
43 years$2,385$1,443$839$473$261$114
44 years$2,305$1,376$788$437$237$101
45 years$2,228$1,312$740$404$215$90
46 years$2,155$1,251$695$373$195$80
47 years$2,086$1,194$653$345$177$71
48 years$2,019$1,140$613$318$161$63
49 years$1,955$1,089$577$294$146$56
50 years$1,894$1,040$542$272$133$49

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 $4,570 every year, while hoping to spend $46,411 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: 56/17/27 Blend
52$1,940,000$1,940,000$1,940,000$1,940,000
53$2,142,594$2,039,774$2,009,704$2,246,437
54$2,311,758$2,090,342$2,027,648$2,368,886
55$2,496,620$2,141,832$2,044,638$2,497,008
56$2,698,735$2,194,241$2,060,592$2,635,654
57$2,919,810$2,247,563$2,075,426$2,785,855
58$3,161,727$2,301,790$2,089,050$2,948,747
59$3,426,559$2,356,914$2,101,369$3,125,579
60$3,716,588$2,412,922$2,112,284$3,317,730
61$4,034,326$2,469,801$2,121,692$3,526,721
62$4,382,540$2,527,535$2,129,481$3,754,224
63$4,764,279$2,586,104$2,135,539$4,002,086
64$5,182,898$2,645,486$2,139,743$4,272,340
65$5,642,096$2,705,657$2,141,966$4,567,229
66$6,145,944$2,766,588$2,142,076$4,889,224
67$6,698,928$2,828,249$2,139,933$5,241,047
68$7,305,988$2,890,602$2,135,391$5,625,701
69$7,972,567$2,953,610$2,128,294$6,046,496
70$8,704,661$3,017,228$2,118,484$6,507,077
71$9,508,872$3,081,409$2,105,789$7,011,466
72$10,392,478$3,146,099$2,090,034$7,564,093
73$11,363,494$3,211,241$2,071,033$8,169,843
74$12,430,749$3,276,770$2,048,591$8,834,099
75$13,603,971$3,342,618$2,022,505$9,562,798
76$14,893,879$3,408,709$1,992,562$10,362,478
77$16,312,280$3,474,961$1,958,538$11,240,352
78$17,872,184$3,541,285$1,920,200$12,204,365
79$19,587,923$3,607,584$1,877,303$13,263,279
80$21,475,290$3,673,755$1,829,591$14,426,749
81$23,551,684$3,739,684$1,776,798$15,705,419
82$25,836,277$3,805,250$1,718,642$17,111,019
83$28,350,192$3,870,321$1,654,831$18,656,480
84$31,116,702$3,934,758$1,585,058$20,356,055
85$34,161,453$3,998,408$1,509,004$22,225,453
86$37,512,699$4,061,108$1,426,334$24,281,990
87$41,201,577$4,122,684$1,336,698$26,544,751
88$45,262,391$4,182,949$1,239,731$29,034,772
89$49,732,943$4,241,701$1,135,050$31,775,238
90$54,654,885$4,298,727$1,022,257$34,791,706
91$60,074,115$4,353,797$900,934$38,112,341
92$66,041,206$4,406,664$770,647$41,768,189
93$72,611,886$4,457,067$630,940$45,793,467
94$79,847,561$4,504,726$481,339$50,225,889
95$87,815,896$4,549,342$321,348$55,107,021
96$96,591,455$4,590,596$150,450$60,482,675
97$106,256,397$4,628,150$0$66,403,345
98$116,901,261$4,661,641$0$72,933,880
99$128,625,813$4,690,684$0$80,173,269
100$141,539,989$4,714,871$0$88,145,894