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%20%
1 years$168,461$166,961$165,497$164,068$162,672$156,157
2 years$83,397$81,843$80,338$78,879$77,463$70,980
3 years$55,046$53,486$51,984$50,538$49,146$42,900
4 years$40,873$39,318$37,831$36,410$35,051$29,090
5 years$32,371$30,825$29,359$27,966$26,645$20,984
6 years$26,705$25,171$23,726$22,365$21,084$15,726
7 years$22,660$21,139$19,716$18,387$17,147$12,090
8 years$19,627$18,120$16,721$15,425$14,225$9,465
9 years$17,270$15,777$14,402$13,138$11,979$7,508
10 years$15,385$13,906$12,556$11,326$10,207$6,016
11 years$13,844$12,380$11,054$9,857$8,778$4,857
12 years$12,560$11,112$9,810$8,646$7,607$3,945
13 years$11,475$10,042$8,765$7,633$6,634$3,220
14 years$10,546$9,128$7,875$6,775$5,815$2,638
15 years$9,741$8,338$7,110$6,043$5,120$2,168
16 years$9,038$7,650$6,446$5,410$4,525$1,786
17 years$8,418$7,045$5,866$4,861$4,012$1,474
18 years$7,867$6,510$5,355$4,381$3,567$1,219
19 years$7,376$6,034$4,902$3,959$3,180$1,009
20 years$6,933$5,607$4,499$3,585$2,840$836
21 years$6,534$5,223$4,138$3,254$2,542$694
22 years$6,171$4,875$3,814$2,958$2,278$576
23 years$5,840$4,560$3,522$2,694$2,045$479
24 years$5,538$4,272$3,257$2,457$1,838$398
25 years$5,259$4,009$3,016$2,244$1,654$331
26 years$5,003$3,768$2,798$2,052$1,490$275
27 years$4,766$3,546$2,598$1,878$1,343$229
28 years$4,547$3,341$2,415$1,721$1,212$191
29 years$4,343$3,152$2,247$1,578$1,094$159
30 years$4,153$2,977$2,093$1,448$989$132
31 years$3,975$2,814$1,952$1,330$894$110
32 years$3,809$2,663$1,821$1,222$809$92
33 years$3,653$2,522$1,700$1,124$732$76
34 years$3,507$2,390$1,589$1,034$663$64
35 years$3,370$2,267$1,485$952$600$53
36 years$3,240$2,152$1,389$877$544$44
37 years$3,118$2,044$1,300$808$493$37
38 years$3,002$1,942$1,218$745$447$31
39 years$2,893$1,847$1,141$687$405$26
40 years$2,789$1,757$1,069$633$368$21
41 years$2,691$1,673$1,003$584$333$18
42 years$2,597$1,593$941$539$303$15
43 years$2,508$1,518$883$498$275$12
44 years$2,424$1,447$828$460$249$10
45 years$2,343$1,380$778$424$226$9
46 years$2,266$1,316$731$392$205$7
47 years$2,193$1,256$686$362$187$6
48 years$2,123$1,199$645$335$169$5
49 years$2,056$1,145$606$309$154$4
50 years$1,992$1,094$570$286$140$3

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 $4,388 every year, while hoping to spend $29,641 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: 85/7/8 Blend
52$2,040,000$2,040,000$2,040,000$2,040,000
53$2,252,606$2,144,486$2,112,866$2,441,758
54$2,450,834$2,218,028$2,152,109$2,639,430
55$2,668,288$2,294,180$2,191,674$2,852,074
56$2,906,898$2,373,039$2,231,539$3,084,761
57$3,168,788$2,454,705$2,271,683$3,339,488
58$3,456,301$2,539,282$2,312,081$3,618,453
59$3,772,016$2,626,879$2,352,707$3,924,079
60$4,118,774$2,717,608$2,393,535$4,259,032
61$4,499,704$2,811,587$2,434,534$4,626,251
62$4,918,255$2,908,935$2,475,672$5,028,972
63$5,378,224$3,009,781$2,516,915$5,470,759
64$5,883,798$3,114,255$2,558,226$5,955,539
65$6,439,585$3,222,493$2,599,566$6,487,636
66$7,050,665$3,334,638$2,640,894$7,071,817
67$7,722,634$3,450,836$2,682,165$7,713,329
68$8,461,658$3,571,242$2,723,332$8,417,955
69$9,274,527$3,696,013$2,764,345$9,192,065
70$10,168,728$3,825,317$2,805,149$10,042,678
71$11,152,506$3,959,325$2,845,689$10,977,526
72$12,234,945$4,098,216$2,885,903$12,005,127
73$13,426,057$4,242,176$2,925,729$13,134,867
74$14,736,872$4,391,400$2,965,098$14,377,086
75$16,179,543$4,546,088$3,003,939$15,743,177
76$17,767,461$4,706,451$3,042,175$17,245,693
77$19,515,381$4,872,706$3,079,727$18,898,465
78$21,439,561$5,045,080$3,116,509$20,716,731
79$23,557,916$5,223,809$3,152,432$22,717,283
80$25,890,187$5,409,139$3,187,402$24,918,621
81$28,458,124$5,601,324$3,221,318$27,341,131
82$31,285,696$5,800,632$3,254,075$30,007,274
83$34,399,312$6,007,339$3,285,562$32,941,800
84$37,828,075$6,221,732$3,315,662$36,171,981
85$41,604,054$6,444,111$3,344,251$39,727,866
86$45,762,583$6,674,789$3,371,199$43,642,569
87$50,342,603$6,914,090$3,396,371$47,952,575
88$55,387,020$7,162,351$3,419,621$52,698,089
89$60,943,116$7,419,927$3,440,798$57,923,414
90$67,062,992$7,687,181$3,459,743$63,677,366
91$73,804,062$7,964,498$3,476,289$70,013,738
92$81,229,590$8,252,272$3,490,259$76,991,808
93$89,409,295$8,550,920$3,501,469$84,676,893
94$98,419,999$8,860,871$3,509,724$93,140,971
95$108,346,361$9,182,576$3,514,822$102,463,357
96$119,281,668$9,516,500$3,516,546$112,731,451
97$131,328,722$9,863,132$3,514,674$124,041,564
98$144,600,805$10,222,980$3,508,970$136,499,826
99$159,222,752$10,596,571$3,499,186$150,223,189
100$175,332,127$10,984,457$3,485,063$165,340,528