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

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$193,235$191,514$189,834$188,195$186,595$183,579
2 years$95,661$93,879$92,153$90,479$88,855$85,825
3 years$63,140$61,351$59,629$57,970$56,373$53,423
4 years$46,883$45,100$43,395$41,764$40,206$37,359
5 years$37,132$35,359$33,676$32,079$30,564$27,828
6 years$30,633$28,873$27,215$25,654$24,184$21,562
7 years$25,992$24,247$22,616$21,092$19,668$17,161
8 years$22,514$20,785$19,180$17,693$16,317$13,924
9 years$19,810$18,097$16,520$15,071$13,741$11,462
10 years$17,647$15,951$14,402$12,991$11,708$9,540
11 years$15,880$14,201$12,680$11,306$10,069$8,010
12 years$14,408$12,746$11,253$9,917$8,726$6,773
13 years$13,163$11,518$10,054$8,755$7,609$5,760
14 years$12,097$10,470$9,033$7,772$6,670$4,922
15 years$11,174$9,564$8,156$6,931$5,873$4,222
16 years$10,367$8,775$7,394$6,206$5,190$3,633
17 years$9,656$8,082$6,729$5,576$4,602$3,135
18 years$9,024$7,468$6,142$5,025$4,092$2,712
19 years$8,460$6,921$5,623$4,541$3,647$2,350
20 years$7,953$6,431$5,161$4,112$3,258$2,041
21 years$7,495$5,991$4,747$3,732$2,915$1,774
22 years$7,078$5,592$4,375$3,394$2,613$1,545
23 years$6,699$5,230$4,039$3,091$2,346$1,346
24 years$6,352$4,900$3,736$2,819$2,108$1,174
25 years$6,033$4,599$3,460$2,574$1,897$1,025
26 years$5,739$4,322$3,209$2,354$1,709$896
27 years$5,467$4,067$2,980$2,154$1,541$783
28 years$5,215$3,833$2,770$1,974$1,390$685
29 years$4,981$3,616$2,578$1,810$1,255$599
30 years$4,763$3,415$2,401$1,661$1,134$525
31 years$4,560$3,228$2,239$1,526$1,026$460
32 years$4,369$3,054$2,089$1,402$928$403
33 years$4,191$2,893$1,950$1,289$840$353
34 years$4,023$2,741$1,822$1,186$760$309
35 years$3,865$2,600$1,704$1,092$688$271
36 years$3,716$2,468$1,594$1,006$624$238
37 years$3,576$2,344$1,492$927$565$208
38 years$3,444$2,228$1,397$854$513$183
39 years$3,318$2,118$1,309$788$465$160
40 years$3,199$2,015$1,227$726$422$141
41 years$3,086$1,918$1,150$670$382$123
42 years$2,979$1,827$1,079$619$347$108
43 years$2,877$1,741$1,012$571$315$95
44 years$2,780$1,659$950$527$286$83
45 years$2,688$1,582$892$487$260$73
46 years$2,600$1,510$838$450$236$64
47 years$2,516$1,441$787$416$214$56
48 years$2,435$1,375$740$384$194$49
49 years$2,358$1,313$695$355$177$43
50 years$2,285$1,254$654$328$160$38

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 $6,331 every year, while hoping to spend $30,939 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: 57/28/15 Blend
52$2,340,000$2,340,000$2,340,000$2,340,000
53$2,585,210$2,461,190$2,424,920$2,722,196
54$2,815,983$2,548,870$2,473,236$2,903,430
55$3,069,258$2,639,809$2,522,134$3,096,893
56$3,347,296$2,734,134$2,571,600$3,306,996
57$3,652,592$2,831,978$2,621,620$3,535,342
58$3,987,889$2,933,478$2,672,178$3,783,694
59$4,356,214$3,038,778$2,723,255$4,053,990
60$4,760,896$3,148,026$2,774,832$4,348,364
61$5,205,607$3,261,379$2,826,889$4,669,165
62$5,694,390$3,378,998$2,879,400$5,018,976
63$6,231,699$3,501,051$2,932,342$5,400,640
64$6,822,444$3,627,713$2,985,687$5,817,289
65$7,472,031$3,759,169$3,039,405$6,272,368
66$8,186,416$3,895,607$3,093,464$6,769,670
67$8,972,165$4,037,226$3,147,829$7,313,370
68$9,836,509$4,184,232$3,202,464$7,908,066
69$10,787,414$4,336,841$3,257,328$8,558,821
70$11,833,661$4,495,277$3,312,379$9,271,207
71$12,984,921$4,659,773$3,367,571$10,051,363
72$14,251,854$4,830,572$3,422,855$10,906,046
73$15,646,201$5,007,928$3,478,179$11,842,701
74$17,180,903$5,192,106$3,533,487$12,869,523
75$18,870,216$5,383,380$3,588,720$13,995,539
76$20,729,850$5,582,038$3,643,814$15,230,694
77$22,777,115$5,788,378$3,698,702$16,585,936
78$25,031,085$6,002,713$3,753,313$18,073,328
79$27,512,777$6,225,367$3,807,570$19,706,155
80$30,245,350$6,456,680$3,861,394$21,499,052
81$33,254,323$6,697,005$3,914,698$23,468,138
82$36,567,816$6,946,710$3,967,392$25,631,172
83$40,216,814$7,206,179$4,019,380$28,007,714
84$44,235,461$7,475,814$4,070,561$30,619,314
85$48,661,380$7,756,031$4,120,828$33,489,712
86$53,536,031$8,047,267$4,170,066$36,645,058
87$58,905,099$8,349,976$4,218,156$40,114,167
88$64,818,927$8,664,632$4,264,971$43,928,778
89$71,332,988$8,991,729$4,310,378$48,123,864
90$78,508,413$9,331,784$4,354,236$52,737,952
91$86,412,565$9,685,335$4,396,397$57,813,490
92$95,119,673$10,052,943$4,436,703$63,397,246
93$104,711,536$10,435,195$4,474,989$69,540,749
94$115,278,294$10,832,700$4,511,083$76,300,770
95$126,919,276$11,246,099$4,544,800$83,739,862
96$139,743,940$11,676,055$4,575,948$91,926,947
97$153,872,905$12,123,265$4,604,325$100,937,962
98$169,439,089$12,588,453$4,629,718$110,856,579
99$186,588,966$13,072,376$4,651,903$121,774,991
100$205,483,943$13,575,825$4,670,644$133,794,782