Can I retire at age 53 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$196,538$194,788$193,080$191,412$189,785$183,416
2 years$97,296$95,484$93,728$92,025$90,374$84,020
3 years$64,220$62,400$60,648$58,961$57,337$51,198
4 years$47,685$45,871$44,136$42,478$40,893$35,016
5 years$37,766$35,963$34,252$32,627$31,086$25,486
6 years$31,156$29,367$27,680$26,092$24,597$19,279
7 years$26,437$24,662$23,003$21,452$20,004$14,967
8 years$22,899$21,140$19,508$17,996$16,596$11,835
9 years$20,148$18,406$16,802$15,328$13,976$9,487
10 years$17,949$16,224$14,649$13,213$11,908$7,684
11 years$16,151$14,443$12,896$11,499$10,241$6,273
12 years$14,654$12,964$11,445$10,086$8,875$5,154
13 years$13,388$11,715$10,226$8,905$7,739$4,255
14 years$12,304$10,649$9,188$7,905$6,784$3,528
15 years$11,365$9,728$8,295$7,050$5,973$2,934
16 years$10,544$8,925$7,521$6,312$5,279$2,447
17 years$9,821$8,220$6,844$5,671$4,681$2,046
18 years$9,179$7,595$6,247$5,111$4,162$1,713
19 years$8,605$7,039$5,719$4,618$3,710$1,437
20 years$8,089$6,541$5,249$4,183$3,314$1,207
21 years$7,623$6,093$4,828$3,796$2,965$1,014
22 years$7,199$5,688$4,450$3,452$2,658$853
23 years$6,814$5,319$4,108$3,143$2,386$719
24 years$6,460$4,984$3,800$2,867$2,145$605
25 years$6,136$4,677$3,519$2,618$1,930$510
26 years$5,837$4,396$3,264$2,394$1,738$430
27 years$5,561$4,137$3,031$2,191$1,567$363
28 years$5,305$3,898$2,818$2,008$1,414$306
29 years$5,066$3,678$2,622$1,841$1,277$259
30 years$4,845$3,473$2,442$1,690$1,154$218
31 years$4,638$3,283$2,277$1,552$1,043$184
32 years$4,444$3,107$2,124$1,426$944$156
33 years$4,262$2,942$1,983$1,311$854$132
34 years$4,092$2,788$1,853$1,207$773$111
35 years$3,931$2,645$1,733$1,111$700$94
36 years$3,780$2,510$1,621$1,023$634$79
37 years$3,637$2,384$1,517$943$575$67
38 years$3,502$2,266$1,421$869$521$57
39 years$3,375$2,155$1,331$801$473$48
40 years$3,254$2,050$1,248$739$429$40
41 years$3,139$1,951$1,170$682$389$34
42 years$3,030$1,858$1,097$629$353$29
43 years$2,926$1,771$1,030$581$320$24
44 years$2,828$1,688$967$536$291$21
45 years$2,734$1,609$908$495$264$17
46 years$2,644$1,535$852$457$240$15
47 years$2,559$1,465$801$423$218$12
48 years$2,477$1,399$753$391$198$11
49 years$2,399$1,336$707$361$180$9
50 years$2,324$1,276$665$334$163$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,380,000, adding $3,005 every year, while hoping to spend $47,151 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: 64/13/23 Blend
52$2,380,000$2,380,000$2,380,000$2,380,000
53$2,625,860$2,499,720$2,462,830$2,778,034
54$2,843,529$2,572,038$2,495,166$2,953,328
55$3,081,820$2,646,319$2,527,006$3,139,213
56$3,342,787$2,722,610$2,558,282$3,341,236
57$3,628,692$2,800,958$2,588,924$3,560,980
58$3,942,024$2,881,410$2,618,858$3,800,191
59$4,285,527$2,964,016$2,648,007$4,060,792
60$4,662,221$3,048,823$2,676,286$4,344,901
61$5,075,435$3,135,883$2,703,609$4,654,851
62$5,528,834$3,225,246$2,729,884$4,993,212
63$6,026,454$3,316,962$2,755,014$5,362,815
64$6,572,742$3,411,082$2,778,897$5,766,779
65$7,172,596$3,507,660$2,801,424$6,208,541
66$7,831,413$3,606,747$2,822,484$6,691,886
67$8,555,136$3,708,397$2,841,956$7,220,986
68$9,350,314$3,812,663$2,859,716$7,800,437
69$10,224,161$3,919,598$2,875,631$8,435,303
70$11,184,623$4,029,256$2,889,563$9,131,163
71$12,240,457$4,141,692$2,901,366$9,894,166
72$13,401,309$4,256,960$2,910,886$10,731,087
73$14,677,806$4,375,114$2,917,964$11,649,389
74$16,081,657$4,496,209$2,922,431$12,657,298
75$17,625,762$4,620,300$2,924,108$13,763,878
76$19,324,334$4,747,439$2,922,811$14,979,118
77$21,193,035$4,877,682$2,918,343$16,314,022
78$23,249,118$5,011,082$2,910,501$17,780,720
79$25,511,595$5,147,692$2,899,070$19,392,576
80$28,001,413$5,287,564$2,883,824$21,164,318
81$30,741,653$5,430,751$2,864,528$23,112,175
82$33,757,746$5,577,303$2,840,935$25,254,032
83$37,077,715$5,727,270$2,812,785$27,609,598
84$40,732,437$5,880,700$2,779,808$30,200,593
85$44,755,933$6,037,642$2,741,719$33,050,950
86$49,185,692$6,198,141$2,698,221$36,187,046
87$54,063,023$6,362,240$2,649,002$39,637,947
88$59,433,445$6,529,983$2,593,736$43,435,685
89$65,347,113$6,701,409$2,532,084$47,615,560
90$71,859,296$6,876,556$2,463,686$52,216,470
91$79,030,896$7,055,459$2,388,171$57,281,285
92$86,929,020$7,238,149$2,305,147$62,857,248
93$95,627,617$7,424,656$2,214,207$68,996,419
94$105,208,174$7,615,004$2,114,923$75,756,172
95$115,760,485$7,809,215$2,006,850$83,199,734
96$127,383,494$8,007,307$1,889,519$91,396,781
97$140,186,237$8,209,292$1,762,445$100,424,099
98$154,288,863$8,415,177$1,625,116$110,366,308
99$169,823,771$8,624,965$1,477,002$121,316,660
100$186,936,860$8,838,652$1,317,545$133,377,922