Can I retire at age 53 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$184,977$183,329$181,722$180,153$178,621$177,272
2 years$91,573$89,867$88,215$86,612$85,057$83,698
3 years$60,442$58,729$57,081$55,493$53,964$52,635
4 years$44,880$43,172$41,540$39,980$38,488$37,200
5 years$35,545$33,848$32,237$30,708$29,258$28,015
6 years$29,324$27,639$26,052$24,558$23,151$21,955
7 years$24,882$23,211$21,649$20,190$18,828$17,679
8 years$21,552$19,896$18,360$16,937$15,619$14,518
9 years$18,963$17,323$15,814$14,427$13,154$12,100
10 years$16,893$15,270$13,787$12,436$11,208$10,200
11 years$15,201$13,594$12,138$10,823$9,639$8,677
12 years$13,792$12,201$10,772$9,493$8,353$7,435
13 years$12,600$11,026$9,624$8,381$7,284$6,410
14 years$11,580$10,022$8,647$7,440$6,385$5,554
15 years$10,696$9,156$7,807$6,635$5,622$4,832
16 years$9,924$8,400$7,078$5,941$4,969$4,219
17 years$9,243$7,736$6,441$5,338$4,406$3,695
18 years$8,639$7,149$5,880$4,810$3,917$3,245
19 years$8,099$6,625$5,383$4,347$3,491$2,856
20 years$7,613$6,157$4,940$3,937$3,119$2,518
21 years$7,174$5,735$4,544$3,573$2,791$2,224
22 years$6,776$5,353$4,188$3,249$2,502$1,967
23 years$6,413$5,007$3,867$2,959$2,246$1,742
24 years$6,080$4,691$3,576$2,698$2,018$1,545
25 years$5,775$4,402$3,312$2,464$1,816$1,371
26 years$5,494$4,137$3,072$2,253$1,636$1,218
27 years$5,234$3,894$2,853$2,062$1,475$1,083
28 years$4,992$3,669$2,652$1,890$1,331$963
29 years$4,768$3,461$2,468$1,733$1,202$857
30 years$4,560$3,269$2,299$1,590$1,086$764
31 years$4,365$3,090$2,143$1,461$982$680
32 years$4,182$2,924$1,999$1,342$888$606
33 years$4,012$2,769$1,867$1,234$804$541
34 years$3,851$2,624$1,744$1,136$728$482
35 years$3,700$2,489$1,631$1,045$659$430
36 years$3,558$2,363$1,526$963$597$384
37 years$3,423$2,244$1,428$887$541$343
38 years$3,296$2,132$1,337$818$491$306
39 years$3,176$2,028$1,253$754$445$273
40 years$3,062$1,929$1,174$695$404$244
41 years$2,954$1,836$1,101$642$366$218
42 years$2,852$1,749$1,033$592$332$195
43 years$2,754$1,666$969$547$302$174
44 years$2,661$1,588$910$505$274$156
45 years$2,573$1,515$854$466$248$139
46 years$2,489$1,445$802$431$226$124
47 years$2,408$1,379$754$398$205$111
48 years$2,331$1,316$708$368$186$99
49 years$2,257$1,257$666$340$169$89
50 years$2,187$1,201$626$314$153$79

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,240,000, adding $5,596 every year, while hoping to spend $23,261 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: 36/36/28 Blend
52$2,240,000$2,240,000$2,240,000$2,240,000
53$2,474,252$2,355,532$2,320,812$2,542,357
54$2,701,876$2,446,204$2,373,810$2,684,184
55$2,951,939$2,540,539$2,427,803$2,834,687
56$3,226,703$2,638,692$2,482,802$2,996,725
57$3,528,664$2,740,825$2,538,813$3,171,350
58$3,860,569$2,847,107$2,595,844$3,359,718
59$4,225,447$2,957,714$2,653,904$3,563,099
60$4,626,631$3,072,831$2,712,999$3,782,888
61$5,067,797$3,192,649$2,773,134$4,020,618
62$5,552,993$3,317,370$2,834,314$4,277,970
63$6,086,680$3,447,203$2,896,546$4,556,797
64$6,673,772$3,582,367$2,959,831$4,859,131
65$7,319,685$3,723,091$3,024,174$5,187,208
66$8,030,384$3,869,614$3,089,575$5,543,485
67$8,812,444$4,022,185$3,156,036$5,930,665
68$9,673,107$4,181,066$3,223,557$6,351,721
69$10,620,354$4,346,528$3,292,136$6,809,920
70$11,662,979$4,518,856$3,361,771$7,308,858
71$12,810,671$4,698,349$3,432,459$7,852,491
72$14,074,106$4,885,315$3,504,193$8,445,170
73$15,465,050$5,080,080$3,576,969$9,091,683
74$16,996,464$5,282,984$3,650,777$9,797,298
75$18,682,634$5,494,380$3,725,608$10,567,814
76$20,539,297$5,714,639$3,801,450$11,409,611
77$22,583,797$5,944,148$3,878,291$12,329,711
78$24,835,246$6,183,313$3,956,115$13,335,846
79$27,314,701$6,432,555$4,034,904$14,436,524
80$30,045,367$6,692,317$4,114,641$15,641,113
81$33,052,816$6,963,062$4,195,302$16,959,925
82$36,365,223$7,245,272$4,276,865$18,404,314
83$40,013,638$7,539,452$4,359,302$19,986,782
84$44,032,275$7,846,131$4,442,584$21,721,092
85$48,458,836$8,165,860$4,526,680$23,622,401
86$53,334,867$8,499,217$4,611,553$25,707,400
87$58,706,150$8,846,806$4,697,167$27,994,468
88$64,623,134$9,209,256$4,783,479$30,503,845
89$71,141,413$9,587,229$4,870,445$33,257,823
90$78,322,248$9,981,414$4,958,016$36,280,952
91$86,233,147$10,392,533$5,046,139$39,600,272
92$94,948,502$10,821,341$5,134,759$43,245,564
93$104,550,289$11,268,627$5,223,813$47,249,630
94$115,128,846$11,735,217$5,313,238$51,648,602
95$126,783,720$12,221,974$5,402,963$56,482,279
96$139,624,610$12,729,802$5,492,914$61,794,501
97$153,772,404$13,259,646$5,583,009$67,633,558
98$169,360,314$13,812,493$5,673,165$74,052,649
99$186,535,139$14,389,378$5,763,289$81,110,375
100$205,458,648$14,991,383$5,853,285$88,871,294