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

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$191,583$189,877$188,212$186,587$185,000$180,454
2 years$94,843$93,077$91,365$89,705$88,095$83,544
3 years$62,601$60,827$59,119$57,475$55,891$51,476
4 years$46,483$44,714$43,024$41,408$39,862$35,617
5 years$36,814$35,056$33,388$31,805$30,303$26,240
6 years$30,371$28,626$26,983$25,435$23,977$20,101
7 years$25,770$24,040$22,423$20,911$19,500$15,810
8 years$22,321$20,607$19,016$17,542$16,177$12,672
9 years$19,640$17,942$16,379$14,942$13,624$10,301
10 years$17,497$15,815$14,279$12,880$11,608$8,464
11 years$15,744$14,079$12,571$11,209$9,983$7,013
12 years$14,284$12,637$11,157$9,832$8,651$5,849
13 years$13,050$11,420$9,968$8,680$7,544$4,905
14 years$11,994$10,380$8,956$7,705$6,613$4,132
15 years$11,078$9,483$8,086$6,872$5,823$3,493
16 years$10,278$8,700$7,331$6,153$5,146$2,962
17 years$9,573$8,013$6,671$5,528$4,563$2,518
18 years$8,947$7,404$6,090$4,982$4,057$2,145
19 years$8,388$6,862$5,575$4,502$3,616$1,830
20 years$7,885$6,376$5,116$4,077$3,230$1,564
21 years$7,431$5,939$4,706$3,700$2,891$1,338
22 years$7,018$5,544$4,337$3,365$2,591$1,146
23 years$6,642$5,185$4,005$3,064$2,326$983
24 years$6,298$4,858$3,704$2,795$2,090$843
25 years$5,981$4,559$3,430$2,552$1,881$724
26 years$5,690$4,285$3,182$2,334$1,694$622
27 years$5,420$4,033$2,954$2,136$1,528$535
28 years$5,171$3,800$2,746$1,957$1,378$460
29 years$4,939$3,585$2,556$1,795$1,245$395
30 years$4,723$3,386$2,381$1,647$1,125$340
31 years$4,521$3,200$2,219$1,513$1,017$293
32 years$4,332$3,028$2,071$1,390$920$252
33 years$4,155$2,868$1,933$1,278$832$217
34 years$3,989$2,718$1,807$1,176$754$187
35 years$3,832$2,578$1,689$1,083$683$161
36 years$3,685$2,447$1,580$997$618$139
37 years$3,546$2,324$1,479$919$561$119
38 years$3,414$2,209$1,385$847$508$103
39 years$3,290$2,100$1,297$781$461$89
40 years$3,172$1,998$1,216$720$418$76
41 years$3,060$1,902$1,140$665$379$66
42 years$2,954$1,811$1,070$613$344$57
43 years$2,853$1,726$1,004$566$312$49
44 years$2,756$1,645$942$523$283$42
45 years$2,665$1,569$885$483$257$36
46 years$2,577$1,497$831$446$234$31
47 years$2,494$1,428$781$412$212$27
48 years$2,414$1,363$734$381$193$23
49 years$2,338$1,302$690$352$175$20
50 years$2,265$1,244$648$325$159$17

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 $5,224 every year, while hoping to spend $41,463 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: 41/43/16 Blend
52$2,320,000$2,320,000$2,320,000$2,320,000
53$2,562,029$2,439,069$2,403,109$2,654,777
54$2,779,239$2,514,467$2,439,496$2,796,322
55$3,017,216$2,592,169$2,475,714$2,944,978
56$3,278,032$2,672,246$2,511,711$3,104,991
57$3,563,973$2,754,768$2,547,435$3,277,416
58$3,877,556$2,839,809$2,582,831$3,463,415
59$4,221,550$2,927,443$2,617,839$3,664,264
60$4,599,009$3,017,749$2,652,398$3,881,367
61$5,013,295$3,110,805$2,686,440$4,116,268
62$5,468,111$3,206,695$2,719,896$4,370,667
63$5,967,538$3,305,503$2,752,692$4,646,432
64$6,516,069$3,407,315$2,784,749$4,945,620
65$7,118,655$3,512,220$2,815,986$5,270,494
66$7,780,751$3,620,312$2,846,314$5,623,548
67$8,508,364$3,731,683$2,875,642$6,007,521
68$9,308,113$3,846,433$2,903,872$6,425,434
69$10,187,292$3,964,659$2,930,904$6,880,610
70$11,153,935$4,086,466$2,956,627$7,376,706
71$12,216,892$4,211,959$2,980,930$7,917,752
72$13,385,917$4,341,246$3,003,693$8,508,184
73$14,671,753$4,474,440$3,024,790$9,152,884
74$16,086,240$4,611,656$3,044,088$9,857,234
75$17,642,420$4,753,011$3,061,449$10,627,155
76$19,354,666$4,898,627$3,076,726$11,469,173
77$21,238,810$5,048,629$3,089,766$12,390,473
78$23,312,302$5,203,145$3,100,406$13,398,968
79$25,594,365$5,362,307$3,108,477$14,503,377
80$28,106,181$5,526,250$3,113,802$15,713,302
81$30,871,089$5,695,114$3,116,192$17,039,320
82$33,914,807$5,869,042$3,115,452$18,493,084
83$37,265,673$6,048,181$3,111,375$20,087,428
84$40,954,912$6,232,681$3,103,746$21,836,494
85$45,016,929$6,422,699$3,092,337$23,755,859
86$49,489,637$6,618,393$3,076,912$25,862,687
87$54,414,812$6,819,926$3,057,221$28,175,886
88$59,838,488$7,027,468$3,033,003$30,716,286
89$65,811,390$7,241,190$3,003,985$33,506,840
90$72,389,414$7,461,270$2,969,880$36,572,835
91$79,634,151$7,687,889$2,930,388$39,942,133
92$87,613,474$7,921,235$2,885,196$43,645,432
93$96,402,172$8,161,499$2,833,973$47,716,555
94$106,082,658$8,408,878$2,776,376$52,192,771
95$116,745,750$8,663,574$2,712,046$57,115,145
96$128,491,521$8,925,793$2,640,603$62,528,923
97$141,430,248$9,195,749$2,561,656$68,483,962
98$155,683,452$9,473,659$2,474,790$75,035,197
99$171,385,043$9,759,748$2,379,574$82,243,163
100$188,682,586$10,054,244$2,275,559$90,174,560