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%11.5%
1 years$193,235$191,514$189,834$188,195$186,595$185,419
2 years$95,661$93,879$92,153$90,479$88,855$87,669
3 years$63,140$61,351$59,629$57,970$56,373$55,213
4 years$46,883$45,100$43,395$41,764$40,206$39,081
5 years$37,132$35,359$33,676$32,079$30,564$29,478
6 years$30,633$28,873$27,215$25,654$24,184$23,139
7 years$25,992$24,247$22,616$21,092$19,668$18,663
8 years$22,514$20,785$19,180$17,693$16,317$15,353
9 years$19,810$18,097$16,520$15,071$13,741$12,817
10 years$17,647$15,951$14,402$12,991$11,708$10,824
11 years$15,880$14,201$12,680$11,306$10,069$9,225
12 years$14,408$12,746$11,253$9,917$8,726$7,920
13 years$13,163$11,518$10,054$8,755$7,609$6,841
14 years$12,097$10,470$9,033$7,772$6,670$5,939
15 years$11,174$9,564$8,156$6,931$5,873$5,178
16 years$10,367$8,775$7,394$6,206$5,190$4,530
17 years$9,656$8,082$6,729$5,576$4,602$3,976
18 years$9,024$7,468$6,142$5,025$4,092$3,499
19 years$8,460$6,921$5,623$4,541$3,647$3,085
20 years$7,953$6,431$5,161$4,112$3,258$2,727
21 years$7,495$5,991$4,747$3,732$2,915$2,414
22 years$7,078$5,592$4,375$3,394$2,613$2,140
23 years$6,699$5,230$4,039$3,091$2,346$1,899
24 years$6,352$4,900$3,736$2,819$2,108$1,688
25 years$6,033$4,599$3,460$2,574$1,897$1,502
26 years$5,739$4,322$3,209$2,354$1,709$1,337
27 years$5,467$4,067$2,980$2,154$1,541$1,191
28 years$5,215$3,833$2,770$1,974$1,390$1,062
29 years$4,981$3,616$2,578$1,810$1,255$948
30 years$4,763$3,415$2,401$1,661$1,134$846
31 years$4,560$3,228$2,239$1,526$1,026$756
32 years$4,369$3,054$2,089$1,402$928$675
33 years$4,191$2,893$1,950$1,289$840$604
34 years$4,023$2,741$1,822$1,186$760$540
35 years$3,865$2,600$1,704$1,092$688$483
36 years$3,716$2,468$1,594$1,006$624$432
37 years$3,576$2,344$1,492$927$565$387
38 years$3,444$2,228$1,397$854$513$346
39 years$3,318$2,118$1,309$788$465$310
40 years$3,199$2,015$1,227$726$422$278
41 years$3,086$1,918$1,150$670$382$249
42 years$2,979$1,827$1,079$619$347$223
43 years$2,877$1,741$1,012$571$315$200
44 years$2,780$1,659$950$527$286$179
45 years$2,688$1,582$892$487$260$160
46 years$2,600$1,510$838$450$236$144
47 years$2,516$1,441$787$416$214$129
48 years$2,435$1,375$740$384$194$115
49 years$2,358$1,313$695$355$177$103
50 years$2,285$1,254$654$328$160$93

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 $3,157 every year, while hoping to spend $40,775 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: 37/44/19 Blend
52$2,340,000$2,340,000$2,340,000$2,340,000
53$2,581,936$2,457,916$2,421,646$2,662,547
54$2,801,910$2,534,970$2,459,387$2,798,278
55$3,042,954$2,614,433$2,497,026$2,940,719
56$3,307,174$2,696,379$2,534,516$3,093,729
57$3,596,891$2,780,887$2,571,807$3,258,282
58$3,914,660$2,868,036$2,608,848$3,435,446
59$4,263,294$2,957,909$2,645,583$3,626,394
60$4,645,892$3,050,589$2,681,953$3,832,419
61$5,065,870$3,146,164$2,717,895$4,054,940
62$5,526,987$3,244,725$2,753,343$4,295,520
63$6,033,387$3,346,363$2,788,227$4,555,877
64$6,589,633$3,451,175$2,822,473$4,837,901
65$7,200,752$3,559,260$2,856,003$5,143,673
66$7,872,284$3,670,718$2,888,734$5,475,481
67$8,610,328$3,785,656$2,920,578$5,835,845
68$9,421,609$3,904,179$2,951,444$6,227,538
69$10,313,530$4,026,401$2,981,235$6,653,611
70$11,294,251$4,152,436$3,009,847$7,117,424
71$12,372,761$4,282,401$3,037,173$7,622,676
72$13,558,963$4,416,420$3,063,099$8,173,439
73$14,863,770$4,554,617$3,087,506$8,774,196
74$16,299,203$4,697,123$3,110,266$9,429,886
75$17,878,510$4,844,069$3,131,248$10,145,944
76$19,616,285$4,995,596$3,150,312$10,928,358
77$21,528,609$5,151,843$3,167,310$11,783,722
78$23,633,201$5,312,957$3,182,089$12,719,298
79$25,949,585$5,479,089$3,194,486$13,743,083
80$28,499,273$5,650,395$3,204,332$14,863,889
81$31,305,968$5,827,033$3,211,446$16,091,418
82$34,395,788$6,009,170$3,215,641$17,436,359
83$37,797,514$6,196,974$3,216,720$18,910,488
84$41,542,856$6,390,622$3,214,476$20,526,773
85$45,666,758$6,590,293$3,208,692$22,299,505
86$50,207,723$6,796,173$3,199,139$24,244,423
87$55,208,180$7,008,455$3,185,580$26,378,870
88$60,714,881$7,227,336$3,167,763$28,721,950
89$66,779,343$7,453,019$3,145,427$31,294,712
90$73,458,333$7,685,714$3,118,296$34,120,344
91$80,814,407$7,925,638$3,086,082$37,224,397
92$88,916,494$8,173,012$3,048,484$40,635,020
93$97,840,554$8,428,067$3,005,186$44,383,228
94$107,670,287$8,691,039$2,955,856$48,503,195
95$118,497,927$8,962,171$2,900,148$53,032,572
96$130,425,113$9,241,715$2,837,700$58,012,847
97$143,563,844$9,529,928$2,768,133$63,489,731
98$158,037,540$9,827,079$2,691,050$69,513,592
99$173,982,204$10,133,440$2,606,035$76,139,931
100$191,547,706$10,449,296$2,512,654$83,429,901