Can I retire at age 53 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$183,326$181,693$180,099$178,544$177,026$175,323
2 years$90,755$89,065$87,427$85,839$84,298$82,583
3 years$59,902$58,205$56,571$54,998$53,482$51,807
4 years$44,479$42,787$41,169$39,623$38,144$36,523
5 years$35,228$33,545$31,949$30,434$28,996$27,434
6 years$29,062$27,392$25,820$24,338$22,944$21,441
7 years$24,659$23,004$21,456$20,010$18,660$17,218
8 years$21,359$19,719$18,197$16,786$15,480$14,099
9 years$18,794$17,169$15,673$14,298$13,036$11,716
10 years$16,742$15,133$13,664$12,325$11,108$9,847
11 years$15,065$13,472$12,029$10,726$9,553$8,351
12 years$13,669$12,092$10,676$9,408$8,278$7,133
13 years$12,488$10,928$9,538$8,306$7,219$6,130
14 years$11,477$9,933$8,570$7,373$6,328$5,294
15 years$10,601$9,074$7,738$6,576$5,572$4,591
16 years$9,835$8,325$7,015$5,888$4,924$3,995
17 years$9,161$7,667$6,384$5,290$4,366$3,486
18 years$8,562$7,085$5,827$4,768$3,882$3,050
19 years$8,026$6,566$5,335$4,308$3,460$2,675
20 years$7,545$6,102$4,896$3,902$3,091$2,350
21 years$7,110$5,683$4,503$3,541$2,766$2,068
22 years$6,715$5,305$4,150$3,220$2,479$1,822
23 years$6,356$4,962$3,832$2,932$2,226$1,608
24 years$6,026$4,649$3,544$2,674$2,000$1,420
25 years$5,724$4,363$3,283$2,442$1,800$1,256
26 years$5,445$4,100$3,044$2,233$1,621$1,111
27 years$5,187$3,859$2,827$2,044$1,462$984
28 years$4,948$3,636$2,628$1,873$1,319$872
29 years$4,726$3,430$2,446$1,717$1,191$773
30 years$4,519$3,240$2,278$1,576$1,076$685
31 years$4,326$3,062$2,124$1,448$973$608
32 years$4,145$2,898$1,982$1,330$880$540
33 years$3,976$2,744$1,850$1,223$797$479
34 years$3,817$2,601$1,729$1,126$721$426
35 years$3,667$2,467$1,616$1,036$653$378
36 years$3,526$2,341$1,512$954$592$336
37 years$3,393$2,224$1,415$879$536$299
38 years$3,267$2,113$1,325$810$486$266
39 years$3,148$2,010$1,242$747$441$236
40 years$3,035$1,912$1,164$689$400$210
41 years$2,928$1,820$1,091$636$363$187
42 years$2,826$1,733$1,024$587$329$166
43 years$2,730$1,652$960$542$299$148
44 years$2,638$1,574$902$500$271$132
45 years$2,550$1,501$847$462$246$117
46 years$2,466$1,432$795$427$224$104
47 years$2,387$1,367$747$394$203$93
48 years$2,310$1,305$702$364$184$83
49 years$2,237$1,246$660$337$167$74
50 years$2,167$1,190$620$311$152$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,220,000, adding $2,592 every year, while hoping to spend $26,449 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: 47/36/17 Blend
52$2,220,000$2,220,000$2,220,000$2,220,000
53$2,449,114$2,331,454$2,297,044$2,552,333
54$2,670,782$2,417,553$2,345,853$2,710,430
55$2,914,173$2,506,985$2,395,411$2,879,036
56$3,181,477$2,599,885$2,445,715$3,061,469
57$3,475,102$2,696,394$2,496,761$3,259,030
58$3,797,704$2,796,659$2,548,544$3,473,150
59$4,152,208$2,900,833$2,601,058$3,705,400
60$4,541,836$3,009,077$2,654,297$3,957,509
61$4,970,138$3,121,557$2,708,251$4,231,376
62$5,441,026$3,238,447$2,762,911$4,529,092
63$5,958,808$3,359,928$2,818,266$4,852,955
64$6,528,232$3,486,191$2,874,303$5,205,493
65$7,154,529$3,617,431$2,931,010$5,589,488
66$7,843,461$3,753,855$2,988,368$6,007,999
67$8,601,378$3,895,678$3,046,363$6,464,394
68$9,435,275$4,043,124$3,104,973$6,962,376
69$10,352,862$4,196,425$3,164,179$7,506,024
70$11,362,632$4,355,828$3,223,956$8,099,824
71$12,473,941$4,521,584$3,284,280$8,748,714
72$13,697,103$4,693,961$3,345,122$9,458,132
73$15,043,477$4,873,236$3,406,454$10,234,060
74$16,525,584$5,059,696$3,468,243$11,083,087
75$18,157,218$5,253,645$3,530,453$12,012,466
76$19,953,578$5,455,398$3,593,046$13,030,181
77$21,931,412$5,665,282$3,655,983$14,145,024
78$24,109,177$5,883,642$3,719,220$15,366,676
79$26,507,208$6,110,835$3,782,708$16,705,797
80$29,147,913$6,347,236$3,846,399$18,174,126
81$32,055,985$6,593,235$3,910,238$19,784,589
82$35,258,632$6,849,240$3,974,167$21,551,424
83$38,785,836$7,115,676$4,038,126$23,490,309
84$42,670,637$7,392,990$4,102,048$25,618,513
85$46,949,439$7,681,643$4,165,864$27,955,056
86$51,662,360$7,982,123$4,229,499$30,520,885
87$56,853,608$8,294,934$4,292,875$33,339,075
88$62,571,897$8,620,606$4,355,906$36,435,043
89$68,870,906$8,959,692$4,418,505$39,836,783
90$75,809,790$9,312,768$4,480,576$43,575,137
91$83,453,732$9,680,437$4,542,019$47,684,075
92$91,874,564$10,063,330$4,602,728$52,201,022
93$101,151,440$10,462,103$4,662,590$57,167,202
94$111,371,586$10,877,445$4,721,485$62,628,034
95$122,631,122$11,310,074$4,779,289$68,633,550
96$135,035,969$11,760,740$4,835,868$75,238,872
97$148,702,849$12,230,228$4,891,081$82,504,727
98$163,760,387$12,719,357$4,944,780$90,498,017
99$180,350,324$13,228,983$4,996,808$99,292,453
100$198,628,856$13,760,002$5,047,000$108,969,243