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%18.9%
1 years$160,203$158,776$157,384$156,025$154,698$149,150
2 years$79,309$77,832$76,400$75,012$73,666$68,136
3 years$52,347$50,864$49,436$48,061$46,737$41,399
4 years$38,869$37,390$35,977$34,625$33,333$28,229
5 years$30,784$29,314$27,919$26,596$25,339$20,481
6 years$25,396$23,937$22,563$21,269$20,050$15,442
7 years$21,549$20,103$18,750$17,486$16,306$11,947
8 years$18,665$17,232$15,901$14,669$13,527$9,414
9 years$16,423$15,003$13,696$12,494$11,392$7,518
10 years$14,631$13,225$11,940$10,770$9,707$6,066
11 years$13,165$11,773$10,512$9,373$8,348$4,933
12 years$11,945$10,567$9,329$8,222$7,234$4,037
13 years$10,913$9,549$8,335$7,259$6,308$3,319
14 years$10,029$8,680$7,489$6,443$5,530$2,741
15 years$9,264$7,929$6,762$5,746$4,869$2,270
16 years$8,595$7,275$6,130$5,145$4,303$1,885
17 years$8,005$6,700$5,578$4,623$3,816$1,569
18 years$7,482$6,191$5,092$4,166$3,393$1,308
19 years$7,014$5,738$4,662$3,765$3,024$1,092
20 years$6,593$5,332$4,278$3,409$2,701$913
21 years$6,213$4,967$3,935$3,094$2,417$764
22 years$5,868$4,636$3,627$2,813$2,167$639
23 years$5,554$4,336$3,349$2,562$1,945$536
24 years$5,266$4,063$3,097$2,337$1,748$449
25 years$5,002$3,813$2,869$2,134$1,573$377
26 years$4,758$3,583$2,660$1,951$1,417$316
27 years$4,533$3,372$2,470$1,786$1,277$266
28 years$4,324$3,178$2,297$1,637$1,153$223
29 years$4,130$2,998$2,137$1,501$1,041$187
30 years$3,949$2,831$1,991$1,377$940$157
31 years$3,780$2,676$1,856$1,265$850$132
32 years$3,622$2,532$1,732$1,163$769$111
33 years$3,474$2,398$1,617$1,069$696$93
34 years$3,335$2,273$1,511$984$630$79
35 years$3,204$2,156$1,412$905$571$66
36 years$3,081$2,046$1,321$834$517$56
37 years$2,965$1,943$1,237$768$469$47
38 years$2,855$1,847$1,158$708$425$39
39 years$2,751$1,756$1,085$653$385$33
40 years$2,652$1,671$1,017$602$350$28
41 years$2,559$1,591$954$556$317$23
42 years$2,470$1,515$894$513$288$20
43 years$2,385$1,443$839$473$261$17
44 years$2,305$1,376$788$437$237$14
45 years$2,228$1,312$740$404$215$12
46 years$2,155$1,251$695$373$195$10
47 years$2,086$1,194$653$345$177$8
48 years$2,019$1,140$613$318$161$7
49 years$1,955$1,089$577$294$146$6
50 years$1,894$1,040$542$272$133$5

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 $4,589 every year, while hoping to spend $57,432 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: 81/11/8 Blend
52$1,940,000$1,940,000$1,940,000$1,940,000
53$2,142,614$2,039,794$2,009,724$2,313,646
54$2,300,053$2,078,636$2,015,942$2,465,147
55$2,471,626$2,117,457$2,020,444$2,623,323
56$2,658,715$2,156,195$2,023,111$2,795,192
57$2,862,838$2,194,783$2,023,820$2,982,094
58$3,085,669$2,233,149$2,022,440$3,185,502
59$3,329,050$2,271,216$2,018,834$3,407,041
60$3,595,008$2,308,901$2,012,860$3,648,499
61$3,885,775$2,346,113$2,004,367$3,911,845
62$4,203,809$2,382,758$1,993,198$4,199,250
63$4,551,815$2,418,730$1,979,188$4,513,104
64$4,932,774$2,453,921$1,962,164$4,856,039
65$5,349,965$2,488,212$1,941,945$5,230,955
66$5,807,002$2,521,475$1,918,341$5,641,048
67$6,307,865$2,553,576$1,891,154$6,089,838
68$6,856,934$2,584,368$1,860,175$6,581,201
69$7,459,038$2,613,698$1,825,187$7,119,412
70$8,119,490$2,641,401$1,785,961$7,709,176
71$8,844,148$2,667,298$1,742,260$8,355,682
72$9,639,459$2,691,204$1,693,834$9,064,643
73$10,512,528$2,712,917$1,640,421$9,842,356
74$11,471,180$2,732,224$1,581,750$10,695,759
75$12,524,035$2,748,898$1,517,533$11,632,498
76$13,680,589$2,762,697$1,447,474$12,660,997
77$14,951,304$2,773,364$1,371,259$13,790,537
78$16,347,704$2,780,626$1,288,563$15,031,348
79$17,882,484$2,784,191$1,199,044$16,394,701
80$19,569,632$2,783,751$1,102,347$17,893,017
81$21,424,559$2,778,979$998,099$19,539,982
82$23,464,240$2,769,525$885,912$21,350,680
83$25,707,382$2,755,022$765,380$23,341,730
84$28,174,593$2,735,076$636,078$25,531,449
85$30,888,579$2,709,272$497,564$27,940,019
86$33,874,357$2,677,169$349,375$30,589,684
87$37,159,491$2,638,300$191,029$33,504,955
88$40,774,353$2,592,170$22,022$36,712,842
89$44,752,405$2,538,254$0$40,243,112
90$49,130,518$2,475,997$0$44,142,084
91$53,949,321$2,404,810$0$48,435,276
92$59,253,577$2,324,072$0$53,160,693
93$65,092,613$2,233,122$0$58,362,289
94$71,520,778$2,131,263$0$64,088,495
95$78,597,960$2,017,758$0$70,392,686
96$86,390,150$1,891,826$0$77,333,674
97$94,970,062$1,752,643$0$84,976,272
98$104,417,821$1,599,334$0$93,391,898
99$114,821,716$1,430,980$0$102,659,258
100$126,279,038$1,246,604$0$112,865,079