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

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$184,977$183,329$181,722$180,153$178,621$174,515
2 years$91,573$89,867$88,215$86,612$85,057$80,944
3 years$60,442$58,729$57,081$55,493$53,964$49,971
4 years$44,880$43,172$41,540$39,980$38,488$34,646
5 years$35,545$33,848$32,237$30,708$29,258$25,578
6 years$29,324$27,639$26,052$24,558$23,151$19,636
7 years$24,882$23,211$21,649$20,190$18,828$15,480
8 years$21,552$19,896$18,360$16,937$15,619$12,437
9 years$18,963$17,323$15,814$14,427$13,154$10,134
10 years$16,893$15,270$13,787$12,436$11,208$8,347
11 years$15,201$13,594$12,138$10,823$9,639$6,934
12 years$13,792$12,201$10,772$9,493$8,353$5,799
13 years$12,600$11,026$9,624$8,381$7,284$4,876
14 years$11,580$10,022$8,647$7,440$6,385$4,118
15 years$10,696$9,156$7,807$6,635$5,622$3,491
16 years$9,924$8,400$7,078$5,941$4,969$2,969
17 years$9,243$7,736$6,441$5,338$4,406$2,531
18 years$8,639$7,149$5,880$4,810$3,917$2,162
19 years$8,099$6,625$5,383$4,347$3,491$1,851
20 years$7,613$6,157$4,940$3,937$3,119$1,586
21 years$7,174$5,735$4,544$3,573$2,791$1,362
22 years$6,776$5,353$4,188$3,249$2,502$1,170
23 years$6,413$5,007$3,867$2,959$2,246$1,006
24 years$6,080$4,691$3,576$2,698$2,018$866
25 years$5,775$4,402$3,312$2,464$1,816$746
26 years$5,494$4,137$3,072$2,253$1,636$643
27 years$5,234$3,894$2,853$2,062$1,475$554
28 years$4,992$3,669$2,652$1,890$1,331$478
29 years$4,768$3,461$2,468$1,733$1,202$413
30 years$4,560$3,269$2,299$1,590$1,086$356
31 years$4,365$3,090$2,143$1,461$982$308
32 years$4,182$2,924$1,999$1,342$888$266
33 years$4,012$2,769$1,867$1,234$804$230
34 years$3,851$2,624$1,744$1,136$728$198
35 years$3,700$2,489$1,631$1,045$659$171
36 years$3,558$2,363$1,526$963$597$148
37 years$3,423$2,244$1,428$887$541$128
38 years$3,296$2,132$1,337$818$491$111
39 years$3,176$2,028$1,253$754$445$96
40 years$3,062$1,929$1,174$695$404$83
41 years$2,954$1,836$1,101$642$366$72
42 years$2,852$1,749$1,033$592$332$62
43 years$2,754$1,666$969$547$302$54
44 years$2,661$1,588$910$505$274$46
45 years$2,573$1,515$854$466$248$40
46 years$2,489$1,445$802$431$226$35
47 years$2,408$1,379$754$398$205$30
48 years$2,331$1,316$708$368$186$26
49 years$2,257$1,257$666$340$169$22
50 years$2,187$1,201$626$314$153$19

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 $3,377 every year, while hoping to spend $44,123 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: 41/50/9 Blend
52$2,240,000$2,240,000$2,240,000$2,240,000
53$2,471,963$2,353,243$2,318,523$2,566,575
54$2,677,157$2,421,606$2,349,247$2,701,496
55$2,901,802$2,491,839$2,379,522$2,842,750
56$3,147,835$2,563,988$2,409,285$2,994,630
57$3,417,390$2,638,100$2,438,472$3,158,115
58$3,712,816$2,714,219$2,467,014$3,334,287
59$4,036,702$2,792,395$2,494,837$3,524,332
60$4,391,898$2,872,674$2,521,866$3,729,557
61$4,781,542$2,955,105$2,548,019$3,951,397
62$5,209,092$3,039,739$2,573,211$4,191,434
63$5,678,357$3,126,624$2,597,351$4,451,405
64$6,193,533$3,215,811$2,620,345$4,733,225
65$6,759,240$3,307,353$2,642,093$5,038,999
66$7,380,568$3,401,299$2,662,490$5,371,044
67$8,063,127$3,497,704$2,681,424$5,731,912
68$8,813,094$3,596,619$2,698,779$6,124,410
69$9,637,274$3,698,098$2,714,433$6,551,631
70$10,543,166$3,802,194$2,728,256$7,016,979
71$11,539,030$3,908,963$2,740,114$7,524,202
72$12,633,966$4,018,457$2,749,863$8,077,427
73$13,838,002$4,130,733$2,757,355$8,681,198
74$15,162,183$4,245,844$2,762,431$9,340,523
75$16,618,681$4,363,846$2,764,928$10,060,913
76$18,220,906$4,484,793$2,764,672$10,848,440
77$19,983,631$4,608,742$2,761,482$11,709,791
78$21,923,137$4,735,745$2,755,167$12,652,334
79$24,057,360$4,865,859$2,745,528$13,684,182
80$26,406,062$4,999,138$2,732,354$14,814,275
81$28,991,019$5,135,635$2,715,428$16,052,458
82$31,836,226$5,275,403$2,694,517$17,409,580
83$34,968,119$5,418,497$2,669,382$18,897,591
84$38,415,831$5,564,966$2,639,770$20,529,657
85$42,211,459$5,714,864$2,605,416$22,320,284
86$46,390,374$5,868,238$2,566,043$24,285,452
87$50,991,549$6,025,138$2,521,362$26,442,769
88$56,057,928$6,185,611$2,471,069$28,811,636
89$61,636,833$6,349,702$2,414,846$31,413,427
90$67,780,407$6,517,455$2,352,361$34,271,695
91$74,546,110$6,688,911$2,283,266$37,412,390
92$81,997,255$6,864,110$2,207,197$40,864,106
93$90,203,612$7,043,088$2,123,775$44,658,350
94$99,242,060$7,225,879$2,032,601$48,829,838
95$109,197,317$7,412,514$1,933,260$53,416,827
96$120,162,736$7,603,020$1,825,317$58,461,468
97$132,241,187$7,797,420$1,708,317$64,010,211
98$145,546,029$7,995,734$1,581,786$70,114,240
99$160,202,176$8,197,977$1,445,228$76,829,956
100$176,347,279$8,404,159$1,298,125$84,219,511