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%15%
1 years$184,977$183,329$181,722$180,153$178,621$174,943
2 years$91,573$89,867$88,215$86,612$85,057$81,369
3 years$60,442$58,729$57,081$55,493$53,964$50,379
4 years$44,880$43,172$41,540$39,980$38,488$35,035
5 years$35,545$33,848$32,237$30,708$29,258$25,947
6 years$29,324$27,639$26,052$24,558$23,151$19,985
7 years$24,882$23,211$21,649$20,190$18,828$15,808
8 years$21,552$19,896$18,360$16,937$15,619$12,745
9 years$18,963$17,323$15,814$14,427$13,154$10,422
10 years$16,893$15,270$13,787$12,436$11,208$8,616
11 years$15,201$13,594$12,138$10,823$9,639$7,185
12 years$13,792$12,201$10,772$9,493$8,353$6,032
13 years$12,600$11,026$9,624$8,381$7,284$5,093
14 years$11,580$10,022$8,647$7,440$6,385$4,319
15 years$10,696$9,156$7,807$6,635$5,622$3,677
16 years$9,924$8,400$7,078$5,941$4,969$3,140
17 years$9,243$7,736$6,441$5,338$4,406$2,688
18 years$8,639$7,149$5,880$4,810$3,917$2,307
19 years$8,099$6,625$5,383$4,347$3,491$1,983
20 years$7,613$6,157$4,940$3,937$3,119$1,708
21 years$7,174$5,735$4,544$3,573$2,791$1,472
22 years$6,776$5,353$4,188$3,249$2,502$1,271
23 years$6,413$5,007$3,867$2,959$2,246$1,098
24 years$6,080$4,691$3,576$2,698$2,018$950
25 years$5,775$4,402$3,312$2,464$1,816$822
26 years$5,494$4,137$3,072$2,253$1,636$712
27 years$5,234$3,894$2,853$2,062$1,475$617
28 years$4,992$3,669$2,652$1,890$1,331$535
29 years$4,768$3,461$2,468$1,733$1,202$464
30 years$4,560$3,269$2,299$1,590$1,086$402
31 years$4,365$3,090$2,143$1,461$982$349
32 years$4,182$2,924$1,999$1,342$888$303
33 years$4,012$2,769$1,867$1,234$804$263
34 years$3,851$2,624$1,744$1,136$728$229
35 years$3,700$2,489$1,631$1,045$659$199
36 years$3,558$2,363$1,526$963$597$172
37 years$3,423$2,244$1,428$887$541$150
38 years$3,296$2,132$1,337$818$491$130
39 years$3,176$2,028$1,253$754$445$113
40 years$3,062$1,929$1,174$695$404$98
41 years$2,954$1,836$1,101$642$366$85
42 years$2,852$1,749$1,033$592$332$74
43 years$2,754$1,666$969$547$302$65
44 years$2,661$1,588$910$505$274$56
45 years$2,573$1,515$854$466$248$49
46 years$2,489$1,445$802$431$226$42
47 years$2,408$1,379$754$398$205$37
48 years$2,331$1,316$708$368$186$32
49 years$2,257$1,257$666$340$169$28
50 years$2,187$1,201$626$314$153$24

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 $4,064 every year, while hoping to spend $46,373 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: 41/41/18 Blend
52$2,240,000$2,240,000$2,240,000$2,240,000
53$2,472,672$2,353,952$2,319,232$2,560,776
54$2,675,544$2,419,955$2,347,586$2,689,736
55$2,897,555$2,487,638$2,375,335$2,824,423
56$3,140,607$2,557,035$2,402,411$2,969,231
57$3,406,798$2,628,178$2,428,740$3,125,110
58$3,698,434$2,701,101$2,454,246$3,293,101
59$4,018,057$2,775,838$2,478,846$3,474,353
60$4,368,467$2,852,422$2,502,455$3,670,129
61$4,752,747$2,930,887$2,524,984$3,881,819
62$5,174,292$3,011,266$2,546,336$4,110,955
63$5,636,843$3,093,591$2,566,411$4,359,222
64$6,144,519$3,177,895$2,585,104$4,628,476
65$6,701,859$3,264,211$2,602,304$4,920,760
66$7,313,862$3,352,570$2,617,894$5,238,327
67$7,986,034$3,443,004$2,631,752$5,583,653
68$8,724,441$3,535,543$2,643,748$5,959,470
69$9,535,767$3,630,218$2,653,746$6,368,785
70$10,427,373$3,727,056$2,661,604$6,814,909
71$11,407,370$3,826,087$2,667,173$7,301,493
72$12,484,694$3,927,337$2,670,295$7,832,556
73$13,669,188$4,030,832$2,670,805$8,412,526
74$14,971,699$4,136,596$2,668,531$9,046,282
75$16,404,176$4,244,653$2,663,290$9,739,199
76$17,979,784$4,355,024$2,654,893$10,497,200
77$19,713,030$4,467,728$2,643,140$11,326,811
78$21,619,895$4,582,782$2,627,821$12,235,220
79$23,717,989$4,700,203$2,608,717$13,230,350
80$26,026,713$4,820,002$2,585,599$14,320,931
81$28,567,446$4,942,191$2,558,225$15,516,581
82$31,363,743$5,066,776$2,526,343$16,827,900
83$34,441,559$5,193,762$2,489,689$18,266,567
84$37,829,491$5,323,149$2,447,987$19,845,453
85$41,559,052$5,454,936$2,400,947$21,578,740
86$45,664,962$5,589,115$2,348,266$23,482,057
87$50,185,483$5,725,676$2,289,627$25,572,629
88$55,162,771$5,864,604$2,224,699$27,869,434
89$60,643,282$6,005,877$2,153,134$30,393,388
90$66,678,203$6,149,471$2,074,570$33,167,542
91$73,323,938$6,295,354$1,988,628$36,217,296
92$80,642,643$6,443,489$1,894,909$39,570,643
93$88,702,805$6,593,832$1,793,001$43,258,431
94$97,579,893$6,746,333$1,682,469$47,314,658
95$107,357,071$6,900,931$1,562,860$51,776,788
96$118,125,977$7,057,562$1,433,701$56,686,110
97$129,987,595$7,216,151$1,294,498$62,088,125
98$143,053,199$7,376,612$1,144,734$68,032,980
99$157,445,412$7,538,852$983,869$74,575,935
100$173,299,355$7,702,767$811,339$81,777,892