Can I retire at age 53 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$168,461$166,961$165,497$164,068$162,672$156,776
2 years$83,397$81,843$80,338$78,879$77,463$71,587
3 years$55,046$53,486$51,984$50,538$49,146$43,475
4 years$40,873$39,318$37,831$36,410$35,051$29,629
5 years$32,371$30,825$29,359$27,966$26,645$21,486
6 years$26,705$25,171$23,726$22,365$21,084$16,191
7 years$22,660$21,139$19,716$18,387$17,147$12,519
8 years$19,627$18,120$16,721$15,425$14,225$9,859
9 years$17,270$15,777$14,402$13,138$11,979$7,869
10 years$15,385$13,906$12,556$11,326$10,207$6,345
11 years$13,844$12,380$11,054$9,857$8,778$5,157
12 years$12,560$11,112$9,810$8,646$7,607$4,217
13 years$11,475$10,042$8,765$7,633$6,634$3,465
14 years$10,546$9,128$7,875$6,775$5,815$2,859
15 years$9,741$8,338$7,110$6,043$5,120$2,366
16 years$9,038$7,650$6,446$5,410$4,525$1,963
17 years$8,418$7,045$5,866$4,861$4,012$1,633
18 years$7,867$6,510$5,355$4,381$3,567$1,360
19 years$7,376$6,034$4,902$3,959$3,180$1,135
20 years$6,933$5,607$4,499$3,585$2,840$948
21 years$6,534$5,223$4,138$3,254$2,542$792
22 years$6,171$4,875$3,814$2,958$2,278$663
23 years$5,840$4,560$3,522$2,694$2,045$555
24 years$5,538$4,272$3,257$2,457$1,838$465
25 years$5,259$4,009$3,016$2,244$1,654$390
26 years$5,003$3,768$2,798$2,052$1,490$327
27 years$4,766$3,546$2,598$1,878$1,343$274
28 years$4,547$3,341$2,415$1,721$1,212$230
29 years$4,343$3,152$2,247$1,578$1,094$193
30 years$4,153$2,977$2,093$1,448$989$162
31 years$3,975$2,814$1,952$1,330$894$136
32 years$3,809$2,663$1,821$1,222$809$114
33 years$3,653$2,522$1,700$1,124$732$96
34 years$3,507$2,390$1,589$1,034$663$81
35 years$3,370$2,267$1,485$952$600$68
36 years$3,240$2,152$1,389$877$544$57
37 years$3,118$2,044$1,300$808$493$48
38 years$3,002$1,942$1,218$745$447$40
39 years$2,893$1,847$1,141$687$405$34
40 years$2,789$1,757$1,069$633$368$28
41 years$2,691$1,673$1,003$584$333$24
42 years$2,597$1,593$941$539$303$20
43 years$2,508$1,518$883$498$275$17
44 years$2,424$1,447$828$460$249$14
45 years$2,343$1,380$778$424$226$12
46 years$2,266$1,316$731$392$205$10
47 years$2,193$1,256$686$362$187$8
48 years$2,123$1,199$645$335$169$7
49 years$2,056$1,145$606$309$154$6
50 years$1,992$1,094$570$286$140$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,040,000, adding $3,576 every year, while hoping to spend $23,656 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: 27/44/29 Blend
52$2,040,000$2,040,000$2,040,000$2,040,000
53$2,251,769$2,143,649$2,112,029$2,292,203
54$2,456,279$2,223,518$2,157,612$2,405,277
55$2,680,857$2,306,507$2,203,929$2,524,331
56$2,927,524$2,392,746$2,250,980$2,651,679
57$3,198,507$2,482,366$2,298,764$2,788,044
58$3,496,261$2,575,508$2,347,278$2,934,219
59$3,823,488$2,672,316$2,396,521$3,091,077
60$4,183,166$2,772,942$2,446,486$3,259,570
61$4,578,576$2,877,543$2,497,171$3,440,747
62$5,013,333$2,986,285$2,548,568$3,635,758
63$5,491,419$3,099,339$2,600,672$3,845,865
64$6,017,222$3,216,885$2,653,472$4,072,454
65$6,595,576$3,339,109$2,706,960$4,317,046
66$7,231,806$3,466,207$2,761,125$4,581,313
67$7,931,782$3,598,383$2,815,954$4,867,091
68$8,701,968$3,735,849$2,871,434$5,176,399
69$9,549,490$3,878,826$2,927,548$5,511,453
70$10,482,196$4,027,547$2,984,279$5,874,692
71$11,508,737$4,182,253$3,041,608$6,268,794
72$12,638,641$4,343,196$3,099,515$6,696,705
73$13,882,409$4,510,640$3,157,976$7,161,664
74$15,251,613$4,684,859$3,216,966$7,667,234
75$16,759,001$4,866,141$3,276,458$8,217,332
76$18,418,622$5,054,785$3,336,423$8,816,268
77$20,245,956$5,251,104$3,396,827$9,468,782
78$22,258,060$5,455,424$3,457,637$10,180,091
79$24,473,730$5,668,088$3,518,816$10,955,932
80$26,913,676$5,889,450$3,580,322$11,802,621
81$29,600,721$6,119,883$3,642,113$12,727,108
82$32,560,013$6,359,776$3,704,142$13,737,039
83$35,819,263$6,609,534$3,766,360$14,840,833
84$39,409,008$6,869,581$3,828,713$16,047,756
85$43,362,897$7,140,360$3,891,144$17,368,007
86$47,718,008$7,422,334$3,953,594$18,812,813
87$52,515,202$7,715,985$4,015,996$20,394,537
88$57,799,503$8,021,819$4,078,283$22,126,787
89$63,620,527$8,340,363$4,140,380$24,024,547
90$70,032,949$8,672,168$4,202,210$26,104,316
91$77,097,015$9,017,810$4,263,690$28,384,262
92$84,879,119$9,377,891$4,324,731$30,884,390
93$93,452,420$9,753,039$4,385,241$33,626,731
94$102,897,541$10,143,912$4,445,121$36,635,546
95$113,303,323$10,551,196$4,504,265$39,937,556
96$124,767,667$10,975,610$4,562,563$43,562,189
97$137,398,457$11,417,903$4,619,897$47,541,854
98$151,314,580$11,878,860$4,676,143$51,912,251
99$166,647,043$12,359,300$4,731,171$56,712,700
100$183,540,217$12,860,081$4,784,840$61,986,509