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

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$168,461$166,961$165,497$164,068$162,672$159,649
2 years$83,397$81,843$80,338$78,879$77,463$74,429
3 years$55,046$53,486$51,984$50,538$49,146$46,194
4 years$40,873$39,318$37,831$36,410$35,051$32,206
5 years$32,371$30,825$29,359$27,966$26,645$23,914
6 years$26,705$25,171$23,726$22,365$21,084$18,469
7 years$22,660$21,139$19,716$18,387$17,147$14,650
8 years$19,627$18,120$16,721$15,425$14,225$11,846
9 years$17,270$15,777$14,402$13,138$11,979$9,716
10 years$15,385$13,906$12,556$11,326$10,207$8,057
11 years$13,844$12,380$11,054$9,857$8,778$6,740
12 years$12,560$11,112$9,810$8,646$7,607$5,677
13 years$11,475$10,042$8,765$7,633$6,634$4,809
14 years$10,546$9,128$7,875$6,775$5,815$4,092
15 years$9,741$8,338$7,110$6,043$5,120$3,496
16 years$9,038$7,650$6,446$5,410$4,525$2,996
17 years$8,418$7,045$5,866$4,861$4,012$2,574
18 years$7,867$6,510$5,355$4,381$3,567$2,217
19 years$7,376$6,034$4,902$3,959$3,180$1,913
20 years$6,933$5,607$4,499$3,585$2,840$1,653
21 years$6,534$5,223$4,138$3,254$2,542$1,431
22 years$6,171$4,875$3,814$2,958$2,278$1,240
23 years$5,840$4,560$3,522$2,694$2,045$1,076
24 years$5,538$4,272$3,257$2,457$1,838$934
25 years$5,259$4,009$3,016$2,244$1,654$812
26 years$5,003$3,768$2,798$2,052$1,490$706
27 years$4,766$3,546$2,598$1,878$1,343$614
28 years$4,547$3,341$2,415$1,721$1,212$534
29 years$4,343$3,152$2,247$1,578$1,094$465
30 years$4,153$2,977$2,093$1,448$989$405
31 years$3,975$2,814$1,952$1,330$894$353
32 years$3,809$2,663$1,821$1,222$809$308
33 years$3,653$2,522$1,700$1,124$732$269
34 years$3,507$2,390$1,589$1,034$663$234
35 years$3,370$2,267$1,485$952$600$204
36 years$3,240$2,152$1,389$877$544$178
37 years$3,118$2,044$1,300$808$493$155
38 years$3,002$1,942$1,218$745$447$136
39 years$2,893$1,847$1,141$687$405$118
40 years$2,789$1,757$1,069$633$368$103
41 years$2,691$1,673$1,003$584$333$90
42 years$2,597$1,593$941$539$303$79
43 years$2,508$1,518$883$498$275$69
44 years$2,424$1,447$828$460$249$60
45 years$2,343$1,380$778$424$226$52
46 years$2,266$1,316$731$392$205$46
47 years$2,193$1,256$686$362$187$40
48 years$2,123$1,199$645$335$169$35
49 years$2,056$1,145$606$309$154$30
50 years$1,992$1,094$570$286$140$27

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 $6,714 every year, while hoping to spend $36,119 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: 31/43/26 Blend
52$2,040,000$2,040,000$2,040,000$2,040,000
53$2,255,005$2,146,885$2,115,265$2,306,718
54$2,446,586$2,213,653$2,147,697$2,413,782
55$2,656,497$2,282,481$2,180,003$2,525,294
56$2,886,570$2,353,433$2,212,144$2,644,609
57$3,138,822$2,426,573$2,244,073$2,772,433
58$3,415,476$2,501,969$2,275,744$2,909,544
59$3,718,978$2,579,689$2,307,104$3,056,795
60$4,052,023$2,659,803$2,338,102$3,215,123
61$4,417,581$2,742,385$2,368,680$3,385,562
62$4,818,922$2,827,510$2,398,778$3,569,245
63$5,259,648$2,915,254$2,428,333$3,767,421
64$5,743,728$3,005,697$2,457,278$3,981,465
65$6,275,533$3,098,921$2,485,542$4,212,887
66$6,859,880$3,195,011$2,513,050$4,463,351
67$7,502,073$3,294,052$2,539,723$4,734,687
68$8,207,959$3,396,135$2,565,478$5,028,910
69$8,983,976$3,501,351$2,590,227$5,348,238
70$9,837,220$3,609,795$2,613,878$5,695,112
71$10,775,506$3,721,564$2,636,332$6,072,221
72$11,807,446$3,836,760$2,657,488$6,482,524
73$12,942,528$3,955,484$2,677,236$6,929,280
74$14,191,207$4,077,843$2,695,465$7,416,079
75$15,565,000$4,203,947$2,712,052$7,946,871
76$17,076,598$4,333,908$2,726,874$8,526,010
77$18,739,983$4,467,843$2,739,797$9,158,289
78$20,570,564$4,605,869$2,750,683$9,848,989
79$22,585,316$4,748,111$2,759,385$10,603,924
80$24,802,943$4,894,694$2,765,750$11,429,501
81$27,244,058$5,045,748$2,769,616$12,332,776
82$29,931,369$5,201,407$2,770,816$13,321,522
83$32,889,901$5,361,809$2,769,171$14,404,304
84$36,147,228$5,527,095$2,764,495$15,590,553
85$39,733,733$5,697,410$2,756,593$16,890,664
86$43,682,895$5,872,904$2,745,260$18,316,086
87$48,031,606$6,053,732$2,730,282$19,879,434
88$52,820,516$6,240,051$2,711,433$21,594,607
89$58,094,421$6,432,025$2,688,478$23,476,917
90$63,902,679$6,629,822$2,661,169$25,543,237
91$70,299,682$6,833,614$2,629,249$27,812,155
92$77,345,367$7,043,577$2,592,445$30,304,154
93$85,105,777$7,259,895$2,550,474$33,041,804
94$93,653,691$7,482,755$2,503,040$36,049,971
95$103,069,307$7,712,349$2,449,832$39,356,056
96$113,440,998$7,948,876$2,390,523$42,990,251
97$124,866,148$8,192,540$2,324,774$46,985,827
98$137,452,070$8,443,549$2,252,229$51,379,440
99$151,317,018$8,702,120$2,172,515$56,211,488
100$166,591,303$8,968,472$2,085,243$61,526,482