Can I retire at age 53 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$193,235$191,514$189,834$188,195$186,595$180,477
2 years$95,661$93,879$92,153$90,479$88,855$82,750
3 years$63,140$61,351$59,629$57,970$56,373$50,472
4 years$46,883$45,100$43,395$41,764$40,206$34,555
5 years$37,132$35,359$33,676$32,079$30,564$25,177
6 years$30,633$28,873$27,215$25,654$24,184$19,066
7 years$25,992$24,247$22,616$21,092$19,668$14,819
8 years$22,514$20,785$19,180$17,693$16,317$11,732
9 years$19,810$18,097$16,520$15,071$13,741$9,416
10 years$17,647$15,951$14,402$12,991$11,708$7,635
11 years$15,880$14,201$12,680$11,306$10,069$6,242
12 years$14,408$12,746$11,253$9,917$8,726$5,135
13 years$13,163$11,518$10,054$8,755$7,609$4,245
14 years$12,097$10,470$9,033$7,772$6,670$3,525
15 years$11,174$9,564$8,156$6,931$5,873$2,936
16 years$10,367$8,775$7,394$6,206$5,190$2,452
17 years$9,656$8,082$6,729$5,576$4,602$2,053
18 years$9,024$7,468$6,142$5,025$4,092$1,722
19 years$8,460$6,921$5,623$4,541$3,647$1,446
20 years$7,953$6,431$5,161$4,112$3,258$1,216
21 years$7,495$5,991$4,747$3,732$2,915$1,024
22 years$7,078$5,592$4,375$3,394$2,613$863
23 years$6,699$5,230$4,039$3,091$2,346$728
24 years$6,352$4,900$3,736$2,819$2,108$614
25 years$6,033$4,599$3,460$2,574$1,897$518
26 years$5,739$4,322$3,209$2,354$1,709$438
27 years$5,467$4,067$2,980$2,154$1,541$370
28 years$5,215$3,833$2,770$1,974$1,390$313
29 years$4,981$3,616$2,578$1,810$1,255$264
30 years$4,763$3,415$2,401$1,661$1,134$224
31 years$4,560$3,228$2,239$1,526$1,026$189
32 years$4,369$3,054$2,089$1,402$928$160
33 years$4,191$2,893$1,950$1,289$840$135
34 years$4,023$2,741$1,822$1,186$760$115
35 years$3,865$2,600$1,704$1,092$688$97
36 years$3,716$2,468$1,594$1,006$624$82
37 years$3,576$2,344$1,492$927$565$69
38 years$3,444$2,228$1,397$854$513$59
39 years$3,318$2,118$1,309$788$465$50
40 years$3,199$2,015$1,227$726$422$42
41 years$3,086$1,918$1,150$670$382$36
42 years$2,979$1,827$1,079$619$347$30
43 years$2,877$1,741$1,012$571$315$26
44 years$2,780$1,659$950$527$286$22
45 years$2,688$1,582$892$487$260$18
46 years$2,600$1,510$838$450$236$16
47 years$2,516$1,441$787$416$214$13
48 years$2,435$1,375$740$384$194$11
49 years$2,358$1,313$695$355$177$9
50 years$2,285$1,254$654$328$160$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,340,000, adding $5,905 every year, while hoping to spend $29,224 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: 52/28/20 Blend
52$2,340,000$2,340,000$2,340,000$2,340,000
53$2,584,771$2,460,751$2,424,481$2,704,642
54$2,817,324$2,550,234$2,474,607$2,877,279
55$3,072,617$2,643,122$2,525,433$3,061,433
56$3,352,940$2,739,551$2,576,951$3,261,116
57$3,660,814$2,839,663$2,629,153$3,477,811
58$3,999,016$2,943,605$2,682,028$3,713,153
59$4,370,606$3,051,532$2,735,566$3,968,937
60$4,778,954$3,163,603$2,789,754$4,247,139
61$5,227,774$3,279,987$2,844,578$4,549,933
62$5,721,156$3,400,856$2,900,021$4,879,712
63$6,263,609$3,526,392$2,956,066$5,239,109
64$6,860,096$3,656,785$3,012,694$5,631,019
65$7,516,090$3,792,231$3,069,883$6,058,632
66$8,237,617$3,932,937$3,127,610$6,525,457
67$9,031,320$4,079,116$3,185,850$7,035,359
68$9,904,514$4,230,992$3,244,575$7,592,589
69$10,865,261$4,388,797$3,303,756$8,201,830
70$11,922,446$4,552,776$3,363,359$8,868,238
71$13,085,854$4,723,181$3,423,351$9,597,487
72$14,366,270$4,900,276$3,483,693$10,395,828
73$15,775,578$5,084,338$3,544,344$11,270,142
74$17,326,869$5,275,652$3,605,262$12,228,008
75$19,034,570$5,474,520$3,666,399$13,277,772
76$20,914,578$5,681,254$3,727,705$14,428,623
77$22,984,409$5,896,179$3,789,127$15,690,686
78$25,263,365$6,119,638$3,850,609$17,075,108
79$27,772,712$6,351,983$3,912,088$18,594,167
80$30,535,885$6,593,587$3,973,500$20,261,390
81$33,578,708$6,844,836$4,034,775$22,091,674
82$36,929,637$7,106,134$4,095,840$24,101,426
83$40,620,026$7,377,900$4,156,617$26,308,724
84$44,684,427$7,660,576$4,217,022$28,733,479
85$49,160,914$7,954,619$4,276,967$31,397,624
86$54,091,440$8,260,509$4,336,359$34,325,323
87$59,522,238$8,578,744$4,395,098$37,543,195
88$65,504,251$8,909,848$4,453,079$41,080,565
89$72,093,618$9,254,364$4,510,190$44,969,738
90$79,352,201$9,612,861$4,566,315$49,246,308
91$87,348,167$9,985,934$4,621,329$53,949,487
92$96,156,637$10,374,201$4,675,100$59,122,475
93$105,860,387$10,778,310$4,727,489$64,812,870
94$116,550,637$11,198,938$4,778,350$71,073,112
95$128,327,906$11,636,789$4,827,529$77,960,978
96$141,302,963$12,092,603$4,874,862$85,540,126
97$155,597,873$12,567,147$4,920,177$93,880,696
98$171,347,146$13,061,228$4,963,293$103,059,966
99$188,699,012$13,575,685$5,004,020$113,163,085
100$207,816,813$14,111,396$5,042,157$124,283,872