Can I retire at age 53 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$191,583$189,877$188,212$186,587$185,000$183,911
2 years$94,843$93,077$91,365$89,705$88,095$86,997
3 years$62,601$60,827$59,119$57,475$55,891$54,817
4 years$46,483$44,714$43,024$41,408$39,862$38,821
5 years$36,814$35,056$33,388$31,805$30,303$29,297
6 years$30,371$28,626$26,983$25,435$23,977$23,009
7 years$25,770$24,040$22,423$20,911$19,500$18,569
8 years$22,321$20,607$19,016$17,542$16,177$15,283
9 years$19,640$17,942$16,379$14,942$13,624$12,767
10 years$17,497$15,815$14,279$12,880$11,608$10,788
11 years$15,744$14,079$12,571$11,209$9,983$9,200
12 years$14,284$12,637$11,157$9,832$8,651$7,903
13 years$13,050$11,420$9,968$8,680$7,544$6,831
14 years$11,994$10,380$8,956$7,705$6,613$5,934
15 years$11,078$9,483$8,086$6,872$5,823$5,177
16 years$10,278$8,700$7,331$6,153$5,146$4,533
17 years$9,573$8,013$6,671$5,528$4,563$3,981
18 years$8,947$7,404$6,090$4,982$4,057$3,505
19 years$8,388$6,862$5,575$4,502$3,616$3,094
20 years$7,885$6,376$5,116$4,077$3,230$2,736
21 years$7,431$5,939$4,706$3,700$2,891$2,423
22 years$7,018$5,544$4,337$3,365$2,591$2,150
23 years$6,642$5,185$4,005$3,064$2,326$1,910
24 years$6,298$4,858$3,704$2,795$2,090$1,699
25 years$5,981$4,559$3,430$2,552$1,881$1,512
26 years$5,690$4,285$3,182$2,334$1,694$1,348
27 years$5,420$4,033$2,954$2,136$1,528$1,202
28 years$5,171$3,800$2,746$1,957$1,378$1,072
29 years$4,939$3,585$2,556$1,795$1,245$958
30 years$4,723$3,386$2,381$1,647$1,125$856
31 years$4,521$3,200$2,219$1,513$1,017$765
32 years$4,332$3,028$2,071$1,390$920$684
33 years$4,155$2,868$1,933$1,278$832$612
34 years$3,989$2,718$1,807$1,176$754$548
35 years$3,832$2,578$1,689$1,083$683$490
36 years$3,685$2,447$1,580$997$618$439
37 years$3,546$2,324$1,479$919$561$393
38 years$3,414$2,209$1,385$847$508$352
39 years$3,290$2,100$1,297$781$461$316
40 years$3,172$1,998$1,216$720$418$283
41 years$3,060$1,902$1,140$665$379$254
42 years$2,954$1,811$1,070$613$344$228
43 years$2,853$1,726$1,004$566$312$204
44 years$2,756$1,645$942$523$283$183
45 years$2,665$1,569$885$483$257$164
46 years$2,577$1,497$831$446$234$147
47 years$2,494$1,428$781$412$212$132
48 years$2,414$1,363$734$381$193$118
49 years$2,338$1,302$690$352$175$106
50 years$2,265$1,244$648$325$159$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,320,000, adding $3,092 every year, while hoping to spend $25,089 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: 74/16/10 Blend
52$2,320,000$2,320,000$2,320,000$2,320,000
53$2,559,829$2,436,869$2,400,909$2,744,351
54$2,794,237$2,529,581$2,454,645$2,959,211
55$3,051,714$2,625,996$2,509,341$3,191,086
56$3,334,586$2,726,267$2,565,001$3,444,420
57$3,645,417$2,830,556$2,621,631$3,721,330
58$3,987,029$2,939,033$2,679,235$4,024,148
59$4,362,534$3,051,874$2,737,817$4,355,441
60$4,775,358$3,169,261$2,797,380$4,718,034
61$5,229,278$3,291,388$2,857,925$5,115,039
62$5,728,452$3,418,454$2,919,454$5,549,882
63$6,277,465$3,550,669$2,981,966$6,026,336
64$6,881,365$3,688,251$3,045,461$6,548,555
65$7,545,717$3,831,427$3,109,936$7,121,114
66$8,276,649$3,980,437$3,175,389$7,749,052
67$9,080,917$4,135,528$3,241,814$8,437,917
68$9,965,962$4,296,960$3,309,206$9,193,822
69$10,939,983$4,465,004$3,377,557$10,023,498
70$12,012,015$4,639,943$3,446,859$10,934,359
71$13,192,014$4,822,073$3,517,102$11,934,572
72$14,490,947$5,011,703$3,588,273$13,033,133
73$15,920,903$5,209,155$3,660,359$14,239,951
74$17,495,197$5,414,767$3,733,344$15,565,941
75$19,228,507$5,628,890$3,807,210$17,023,128
76$21,137,001$5,851,892$3,881,938$18,624,759
77$23,238,498$6,084,157$3,957,506$20,385,425
78$25,552,632$6,326,088$4,033,889$22,321,203
79$28,101,037$6,578,103$4,111,061$24,449,804
80$30,907,554$6,840,641$4,188,993$26,790,739
81$33,998,452$7,114,160$4,267,652$29,365,505
82$37,402,679$7,399,139$4,347,003$32,197,784
83$41,152,133$7,696,077$4,427,009$35,313,669
84$45,281,964$8,005,499$4,507,627$38,741,909
85$49,830,907$8,327,950$4,588,815$42,514,176
86$54,841,642$8,664,003$4,670,523$46,665,369
87$60,361,203$9,014,253$4,752,699$51,233,936
88$66,441,420$9,379,325$4,835,289$56,262,244
89$73,139,406$9,759,873$4,918,231$61,796,969
90$80,518,095$10,156,577$5,001,463$67,889,544
91$88,646,844$10,570,152$5,084,914$74,596,637
92$97,602,075$11,001,343$5,168,512$81,980,690
93$107,468,008$11,450,929$5,252,178$90,110,503
94$118,337,447$11,919,727$5,335,828$99,061,885
95$130,312,661$12,408,588$5,419,373$108,918,370
96$143,506,348$12,918,405$5,502,718$119,771,999
97$158,042,698$13,450,110$5,585,762$131,724,194
98$174,058,565$14,004,676$5,668,397$144,886,708
99$191,704,759$14,583,126$5,750,508$159,382,685
100$211,147,470$15,186,524$5,831,975$175,347,815