Can I retire at age 53 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$197,364$195,606$193,891$192,217$190,582$189,699
2 years$97,705$95,885$94,122$92,412$90,753$89,862
3 years$64,490$62,662$60,903$59,209$57,578$56,706
4 years$47,885$46,063$44,322$42,657$41,065$40,219
5 years$37,925$36,114$34,396$32,765$31,217$30,400
6 years$31,287$29,490$27,797$26,202$24,701$23,913
7 years$26,548$24,766$23,099$21,542$20,088$19,331
8 years$22,995$21,229$19,590$18,071$16,665$15,937
9 years$20,233$18,483$16,873$15,393$14,035$13,337
10 years$18,025$16,292$14,710$13,269$11,958$11,290
11 years$16,219$14,504$12,951$11,548$10,284$9,645
12 years$14,715$13,018$11,493$10,129$8,912$8,302
13 years$13,444$11,764$10,268$8,942$7,772$7,189
14 years$12,355$10,694$9,226$7,938$6,813$6,257
15 years$11,413$9,769$8,330$7,079$5,998$5,470
16 years$10,589$8,963$7,552$6,339$5,301$4,799
17 years$9,862$8,254$6,872$5,695$4,701$4,223
18 years$9,217$7,627$6,274$5,133$4,180$3,727
19 years$8,641$7,069$5,743$4,638$3,725$3,296
20 years$8,123$6,569$5,271$4,200$3,327$2,921
21 years$7,655$6,119$4,848$3,812$2,978$2,593
22 years$7,230$5,711$4,468$3,466$2,669$2,306
23 years$6,842$5,342$4,126$3,157$2,396$2,053
24 years$6,488$5,005$3,816$2,879$2,154$1,830
25 years$6,162$4,697$3,534$2,629$1,938$1,633
26 years$5,862$4,414$3,278$2,404$1,746$1,459
27 years$5,584$4,154$3,044$2,201$1,574$1,304
28 years$5,327$3,915$2,829$2,016$1,420$1,166
29 years$5,088$3,693$2,633$1,849$1,282$1,044
30 years$4,865$3,488$2,453$1,697$1,159$935
31 years$4,657$3,297$2,286$1,558$1,047$838
32 years$4,463$3,120$2,133$1,432$948$751
33 years$4,280$2,954$1,992$1,317$858$674
34 years$4,109$2,800$1,861$1,212$776$605
35 years$3,948$2,656$1,740$1,115$703$543
36 years$3,796$2,521$1,628$1,027$637$487
37 years$3,653$2,394$1,523$947$577$437
38 years$3,517$2,275$1,427$872$524$393
39 years$3,389$2,164$1,337$804$475$353
40 years$3,268$2,058$1,253$742$431$317
41 years$3,152$1,959$1,175$685$391$285
42 years$3,043$1,866$1,102$632$354$256
43 years$2,939$1,778$1,034$583$322$230
44 years$2,840$1,695$971$538$292$207
45 years$2,745$1,616$911$497$265$186
46 years$2,655$1,542$856$459$241$167
47 years$2,569$1,471$804$424$219$151
48 years$2,487$1,405$756$392$198$135
49 years$2,409$1,341$710$362$180$122
50 years$2,333$1,281$668$335$164$110

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,390,000, adding $6,190 every year, while hoping to spend $48,680 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: 57/31/12 Blend
52$2,390,000$2,390,000$2,390,000$2,390,000
53$2,640,165$2,513,495$2,476,450$2,782,392
54$2,857,667$2,584,861$2,507,616$2,950,587
55$3,095,722$2,658,093$2,538,194$3,127,851
56$3,356,376$2,733,230$2,568,114$3,319,853
57$3,641,881$2,810,312$2,597,300$3,528,011
58$3,954,716$2,889,381$2,625,674$3,753,885
59$4,297,614$2,970,478$2,653,151$3,999,195
60$4,673,582$3,053,643$2,679,643$4,265,833
61$5,085,934$3,138,917$2,705,057$4,555,882
62$5,538,318$3,226,343$2,729,296$4,871,636
63$6,034,755$3,315,962$2,752,255$5,215,620
64$6,579,671$3,407,816$2,773,827$5,590,616
65$7,177,944$3,501,945$2,793,897$5,999,686
66$7,834,946$3,598,392$2,812,344$6,446,204
67$8,556,595$3,697,198$2,829,042$6,933,885
68$9,349,411$3,798,403$2,843,857$7,466,821
69$10,220,574$3,902,049$2,856,650$8,049,520
70$11,177,999$4,008,175$2,867,274$8,686,947
71$12,230,401$4,116,822$2,875,574$9,384,570
72$13,387,384$4,228,028$2,881,388$10,148,415
73$14,659,528$4,341,832$2,884,545$10,985,120
74$16,058,489$4,458,272$2,884,867$11,901,995
75$17,597,111$4,577,383$2,882,165$12,907,099
76$19,289,542$4,699,201$2,876,244$14,009,304
77$21,151,374$4,823,760$2,866,897$15,218,391
78$23,199,783$4,951,093$2,853,907$16,545,133
79$25,453,695$5,081,231$2,837,047$18,001,400
80$27,933,964$5,214,203$2,816,080$19,600,270
81$30,663,566$5,350,037$2,790,756$21,356,156
82$33,667,817$5,488,756$2,760,814$23,284,935
83$36,974,615$5,630,385$2,725,982$25,404,104
84$40,614,695$5,774,944$2,685,971$27,732,941
85$44,621,926$5,922,448$2,640,484$30,292,689
86$49,033,628$6,072,914$2,589,205$33,106,756
87$53,890,921$6,226,350$2,531,807$36,200,934
88$59,239,119$6,382,764$2,467,946$39,603,646
89$65,128,149$6,542,160$2,397,262$43,346,211
90$71,613,029$6,704,535$2,319,380$47,463,141
91$78,754,384$6,869,883$2,233,905$51,992,467
92$86,619,018$7,038,194$2,140,427$56,976,095
93$95,280,542$7,209,449$2,038,516$62,460,206
94$104,820,072$7,383,628$1,927,721$68,495,690
95$115,326,994$7,560,700$1,807,574$75,138,626
96$126,899,803$7,740,629$1,677,583$82,450,810
97$139,647,036$7,923,373$1,537,235$90,500,342
98$153,688,295$8,108,881$1,385,995$99,362,265
99$169,155,377$8,297,091$1,223,301$109,119,279
100$186,193,514$8,487,937$1,048,570$119,862,515