Can I retire at age 53 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$184,151$182,511$180,911$179,349$177,823$175,601
2 years$91,164$89,466$87,821$86,225$84,678$82,442
3 years$60,172$58,467$56,826$55,245$53,723$51,543
4 years$44,679$42,980$41,355$39,801$38,316$36,208
5 years$35,386$33,696$32,093$30,571$29,127$27,098
6 years$29,193$27,516$25,936$24,448$23,047$21,099
7 years$24,771$23,108$21,553$20,100$18,744$16,877
8 years$21,455$19,808$18,278$16,861$15,550$13,765
9 years$18,878$17,246$15,743$14,362$13,095$11,391
10 years$16,818$15,202$13,725$12,380$11,158$9,533
11 years$15,133$13,533$12,084$10,775$9,596$8,050
12 years$13,730$12,147$10,724$9,451$8,316$6,846
13 years$12,544$10,977$9,581$8,344$7,251$5,856
14 years$11,528$9,978$8,609$7,407$6,357$5,034
15 years$10,649$9,115$7,772$6,605$5,597$4,345
16 years$9,880$8,363$7,047$5,914$4,946$3,762
17 years$9,202$7,702$6,412$5,314$4,386$3,268
18 years$8,600$7,117$5,854$4,789$3,900$2,845
19 years$8,062$6,596$5,359$4,327$3,476$2,482
20 years$7,579$6,129$4,918$3,919$3,105$2,169
21 years$7,142$5,709$4,524$3,557$2,778$1,899
22 years$6,746$5,329$4,169$3,234$2,490$1,665
23 years$6,384$4,984$3,850$2,945$2,236$1,461
24 years$6,053$4,670$3,560$2,686$2,009$1,283
25 years$5,749$4,382$3,297$2,453$1,808$1,128
26 years$5,469$4,119$3,058$2,243$1,629$993
27 years$5,210$3,876$2,840$2,053$1,468$874
28 years$4,970$3,653$2,640$1,881$1,325$770
29 years$4,747$3,446$2,457$1,725$1,196$679
30 years$4,539$3,254$2,288$1,583$1,081$599
31 years$4,345$3,076$2,133$1,454$977$528
32 years$4,164$2,911$1,990$1,336$884$466
33 years$3,994$2,757$1,858$1,229$800$412
34 years$3,834$2,613$1,736$1,131$724$364
35 years$3,683$2,478$1,623$1,041$656$321
36 years$3,542$2,352$1,519$959$594$284
37 years$3,408$2,234$1,421$883$539$251
38 years$3,282$2,123$1,331$814$488$222
39 years$3,162$2,019$1,247$751$443$196
40 years$3,049$1,921$1,169$692$402$173
41 years$2,941$1,828$1,096$639$365$153
42 years$2,839$1,741$1,028$589$331$135
43 years$2,742$1,659$965$544$300$120
44 years$2,650$1,581$906$502$272$106
45 years$2,561$1,508$850$464$247$94
46 years$2,477$1,439$799$429$225$83
47 years$2,397$1,373$750$396$204$73
48 years$2,321$1,311$705$366$185$65
49 years$2,247$1,252$663$338$168$57
50 years$2,177$1,195$623$313$153$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,230,000, adding $3,402 every year, while hoping to spend $28,597 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: 47/24/29 Blend
52$2,230,000$2,230,000$2,230,000$2,230,000
53$2,460,969$2,342,779$2,308,214$2,556,015
54$2,681,561$2,427,148$2,355,112$2,707,921
55$2,923,695$2,514,693$2,402,623$2,869,678
56$3,189,538$2,605,539$2,450,737$3,044,730
57$3,481,477$2,699,817$2,499,443$3,234,340
58$3,802,141$2,797,662$2,548,728$3,439,904
59$4,154,429$2,899,217$2,598,580$3,662,951
60$4,541,531$3,004,628$2,648,982$3,905,169
61$4,966,962$3,114,050$2,699,919$4,168,412
62$5,434,597$3,227,643$2,751,371$4,454,721
63$5,948,702$3,345,574$2,803,318$4,766,341
64$6,513,979$3,468,017$2,855,738$5,105,746
65$7,135,608$3,595,152$2,908,608$5,475,656
66$7,819,294$3,727,168$2,961,900$5,879,067
67$8,571,325$3,864,263$3,015,588$6,319,277
68$9,398,630$4,006,641$3,069,639$6,799,916
69$10,308,839$4,154,516$3,124,021$7,324,981
70$11,310,364$4,308,111$3,178,700$7,898,873
71$12,412,471$4,467,658$3,233,635$8,526,440
72$13,625,368$4,633,398$3,288,787$9,213,017
73$14,960,306$4,805,585$3,344,112$9,964,483
74$16,429,680$4,984,481$3,399,562$10,787,308
75$18,047,147$5,170,361$3,455,088$11,688,622
76$19,827,758$5,363,511$3,510,635$12,676,275
77$21,788,095$5,564,228$3,566,147$13,758,914
78$23,946,431$5,772,825$3,621,563$14,946,064
79$26,322,899$5,989,626$3,676,818$16,248,214
80$28,939,686$6,214,969$3,731,842$17,676,921
81$31,821,238$6,449,207$3,786,563$19,244,914
82$34,994,494$6,692,708$3,840,903$20,966,214
83$38,489,139$6,945,857$3,894,779$22,856,269
84$42,337,881$7,209,054$3,948,105$24,932,095
85$46,576,765$7,482,717$4,000,786$27,212,438
86$51,245,508$7,767,283$4,052,725$29,717,950
87$56,387,877$8,063,207$4,103,819$32,471,384
88$62,052,100$8,370,965$4,153,957$35,497,805
89$68,291,323$8,691,051$4,203,023$38,824,830
90$75,164,109$9,023,983$4,250,895$42,482,885
91$82,734,992$9,370,302$4,297,444$46,505,491
92$91,075,086$9,730,571$4,342,533$50,929,584
93$100,262,754$10,105,379$4,386,017$55,795,856
94$110,384,352$10,495,339$4,427,746$61,149,142
95$121,535,039$10,901,094$4,467,558$67,038,844
96$133,819,678$11,323,312$4,505,286$73,519,393
97$147,353,824$11,762,694$4,540,752$80,650,761
98$162,264,815$12,219,967$4,573,769$88,499,032
99$178,692,977$12,695,896$4,604,141$97,137,017
100$196,792,941$13,191,275$4,631,660$106,644,945