Can I retire at age 53 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$167,636$166,142$164,685$163,264$161,875$160,922
2 years$82,988$81,442$79,944$78,492$77,083$76,122
3 years$54,776$53,223$51,729$50,291$48,905$47,965
4 years$40,672$39,125$37,646$36,232$34,879$33,968
5 years$32,213$30,674$29,215$27,829$26,515$25,635
6 years$26,575$25,048$23,610$22,255$20,980$20,132
7 years$22,549$21,035$19,620$18,297$17,063$16,248
8 years$19,531$18,031$16,639$15,349$14,155$13,373
9 years$17,185$15,699$14,331$13,074$11,921$11,171
10 years$15,310$13,838$12,494$11,270$10,157$9,440
11 years$13,776$12,319$11,000$9,808$8,735$8,050
12 years$12,499$11,057$9,762$8,603$7,570$6,915
13 years$11,419$9,992$8,722$7,595$6,601$5,977
14 years$10,494$9,083$7,837$6,742$5,786$5,192
15 years$9,694$8,297$7,075$6,013$5,095$4,530
16 years$8,994$7,613$6,415$5,384$4,503$3,966
17 years$8,377$7,011$5,837$4,837$3,993$3,483
18 years$7,829$6,478$5,329$4,359$3,550$3,067
19 years$7,339$6,004$4,878$3,939$3,164$2,707
20 years$6,899$5,579$4,477$3,568$2,826$2,394
21 years$6,502$5,197$4,118$3,238$2,529$2,120
22 years$6,141$4,851$3,795$2,944$2,267$1,881
23 years$5,812$4,537$3,504$2,681$2,035$1,671
24 years$5,510$4,251$3,241$2,445$1,829$1,486
25 years$5,234$3,989$3,002$2,233$1,646$1,323
26 years$4,979$3,749$2,784$2,042$1,483$1,179
27 years$4,743$3,529$2,585$1,869$1,337$1,052
28 years$4,524$3,325$2,403$1,712$1,206$938
29 years$4,321$3,137$2,236$1,570$1,089$838
30 years$4,132$2,962$2,083$1,441$984$749
31 years$3,956$2,800$1,942$1,324$890$669
32 years$3,790$2,650$1,812$1,216$805$599
33 years$3,635$2,509$1,692$1,119$728$536
34 years$3,490$2,378$1,581$1,029$659$479
35 years$3,353$2,256$1,478$947$597$429
36 years$3,224$2,141$1,383$873$541$384
37 years$3,102$2,034$1,294$804$490$344
38 years$2,987$1,933$1,212$741$445$308
39 years$2,878$1,838$1,135$683$403$276
40 years$2,775$1,748$1,064$630$366$248
41 years$2,677$1,664$998$581$332$222
42 years$2,584$1,585$936$537$301$199
43 years$2,496$1,510$878$495$273$179
44 years$2,412$1,440$824$457$248$160
45 years$2,332$1,373$774$422$225$144
46 years$2,255$1,310$727$390$204$129
47 years$2,182$1,250$683$360$186$116
48 years$2,113$1,193$642$333$169$104
49 years$2,046$1,139$603$308$153$93
50 years$1,982$1,088$567$285$139$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,030,000, adding $6,931 every year, while hoping to spend $48,562 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: 56/23/21 Blend
52$2,030,000$2,030,000$2,030,000$2,030,000
53$2,244,209$2,136,619$2,105,154$2,356,802
54$2,421,449$2,189,644$2,124,007$2,487,501
55$2,615,140$2,243,639$2,141,864$2,624,057
56$2,826,908$2,298,602$2,158,641$2,771,772
57$3,058,545$2,354,525$2,174,248$2,931,730
58$3,312,022$2,411,403$2,188,591$3,105,127
59$3,589,512$2,469,225$2,201,572$3,293,279
60$3,893,405$2,527,980$2,213,087$3,497,635
61$4,226,334$2,587,653$2,223,028$3,719,796
62$4,591,200$2,648,228$2,231,279$3,961,520
63$4,991,197$2,709,686$2,237,721$4,224,749
64$5,429,842$2,772,003$2,242,228$4,511,621
65$5,911,009$2,835,154$2,244,665$4,824,492
66$6,438,965$2,899,110$2,244,895$5,165,958
67$7,018,412$2,963,839$2,242,772$5,538,880
68$7,654,526$3,029,303$2,238,141$5,946,412
69$8,353,012$3,095,463$2,230,843$6,392,030
70$9,120,152$3,162,273$2,220,708$6,879,562
71$9,962,866$3,229,684$2,207,561$7,413,230
72$10,888,780$3,297,639$2,191,215$7,997,686
73$11,906,292$3,366,081$2,171,478$8,638,057
74$13,024,657$3,434,942$2,148,146$9,339,994
75$14,254,068$3,504,150$2,121,005$10,109,724
76$15,605,758$3,573,628$2,089,833$10,954,112
77$17,092,100$3,643,291$2,054,397$11,880,723
78$18,726,727$3,713,045$2,014,453$12,897,895
79$20,524,660$3,782,791$1,969,744$14,014,818
80$22,502,449$3,852,421$1,920,003$15,241,621
81$24,678,326$3,921,817$1,864,951$16,589,469
82$27,072,382$3,990,853$1,804,294$18,070,664
83$29,706,754$4,059,394$1,737,727$19,698,769
84$32,605,831$4,127,292$1,664,928$21,488,731
85$35,796,486$4,194,390$1,585,564$23,457,024
86$39,308,332$4,260,519$1,499,284$25,621,804
87$43,173,995$4,325,498$1,405,723$28,003,085
88$47,429,426$4,389,131$1,304,499$30,622,921
89$52,114,239$4,451,210$1,195,211$33,505,624
90$57,272,084$4,511,512$1,077,443$36,677,986
91$62,951,058$4,569,797$950,759$40,169,538
92$69,204,160$4,625,812$814,704$44,012,824
93$76,089,790$4,679,281$668,802$48,243,718
94$83,672,298$4,729,916$512,556$52,901,752
95$92,022,594$4,777,403$345,449$58,030,501
96$101,218,816$4,821,413$166,938$63,677,986
97$111,347,065$4,861,592$0$69,897,137
98$122,502,218$4,897,564$0$76,751,564
99$134,788,827$4,928,927$0$84,340,541
100$148,322,099$4,955,256$0$92,697,615