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

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$197,364$195,606$193,891$192,217$190,582$186,505
2 years$97,705$95,885$94,122$92,412$90,753$86,666
3 years$64,490$62,662$60,903$59,209$57,578$53,607
4 years$47,885$46,063$44,322$42,657$41,065$37,242
5 years$37,925$36,114$34,396$32,765$31,217$27,552
6 years$31,287$29,490$27,797$26,202$24,701$21,199
7 years$26,548$24,766$23,099$21,542$20,088$16,749
8 years$22,995$21,229$19,590$18,071$16,665$13,488
9 years$20,233$18,483$16,873$15,393$14,035$11,016
10 years$18,025$16,292$14,710$13,269$11,958$9,096
11 years$16,219$14,504$12,951$11,548$10,284$7,575
12 years$14,715$13,018$11,493$10,129$8,912$6,352
13 years$13,444$11,764$10,268$8,942$7,772$5,356
14 years$12,355$10,694$9,226$7,938$6,813$4,536
15 years$11,413$9,769$8,330$7,079$5,998$3,856
16 years$10,589$8,963$7,552$6,339$5,301$3,288
17 years$9,862$8,254$6,872$5,695$4,701$2,811
18 years$9,217$7,627$6,274$5,133$4,180$2,409
19 years$8,641$7,069$5,743$4,638$3,725$2,068
20 years$8,123$6,569$5,271$4,200$3,327$1,778
21 years$7,655$6,119$4,848$3,812$2,978$1,531
22 years$7,230$5,711$4,468$3,466$2,669$1,319
23 years$6,842$5,342$4,126$3,157$2,396$1,138
24 years$6,488$5,005$3,816$2,879$2,154$983
25 years$6,162$4,697$3,534$2,629$1,938$849
26 years$5,862$4,414$3,278$2,404$1,746$734
27 years$5,584$4,154$3,044$2,201$1,574$635
28 years$5,327$3,915$2,829$2,016$1,420$550
29 years$5,088$3,693$2,633$1,849$1,282$476
30 years$4,865$3,488$2,453$1,697$1,159$412
31 years$4,657$3,297$2,286$1,558$1,047$357
32 years$4,463$3,120$2,133$1,432$948$310
33 years$4,280$2,954$1,992$1,317$858$268
34 years$4,109$2,800$1,861$1,212$776$233
35 years$3,948$2,656$1,740$1,115$703$202
36 years$3,796$2,521$1,628$1,027$637$175
37 years$3,653$2,394$1,523$947$577$152
38 years$3,517$2,275$1,427$872$524$132
39 years$3,389$2,164$1,337$804$475$114
40 years$3,268$2,058$1,253$742$431$99
41 years$3,152$1,959$1,175$685$391$86
42 years$3,043$1,866$1,102$632$354$75
43 years$2,939$1,778$1,034$583$322$65
44 years$2,840$1,695$971$538$292$56
45 years$2,745$1,616$911$497$265$49
46 years$2,655$1,542$856$459$241$42
47 years$2,569$1,471$804$424$219$37
48 years$2,487$1,405$756$392$198$32
49 years$2,409$1,341$710$362$180$28
50 years$2,333$1,281$668$335$164$24

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 $4,231 every year, while hoping to spend $37,499 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: 86/9/5 Blend
52$2,390,000$2,390,000$2,390,000$2,390,000
53$2,638,144$2,511,474$2,474,429$2,864,787
54$2,867,336$2,594,638$2,517,424$3,096,222
55$3,118,649$2,680,620$2,560,602$3,344,863
56$3,394,300$2,769,518$2,603,931$3,616,856
57$3,696,729$2,861,435$2,647,373$3,914,523
58$4,028,627$2,956,477$2,690,892$4,240,420
59$4,392,956$3,054,754$2,734,445$4,597,364
60$4,792,978$3,156,378$2,777,990$4,988,456
61$5,232,289$3,261,467$2,821,480$5,417,111
62$5,714,849$3,370,145$2,864,866$5,887,090
63$6,245,018$3,482,537$2,908,094$6,402,538
64$6,827,604$3,598,775$2,951,108$6,968,019
65$7,467,899$3,718,995$2,993,850$7,588,559
66$8,171,736$3,843,337$3,036,256$8,269,696
67$8,945,542$3,971,949$3,078,259$9,017,531
68$9,796,395$4,104,982$3,119,788$9,838,784
69$10,732,095$4,242,594$3,160,769$10,740,856
70$11,761,234$4,384,947$3,201,121$11,731,905
71$12,893,282$4,532,211$3,240,760$12,820,915
72$14,138,669$4,684,562$3,279,598$14,017,783
73$15,508,890$4,842,182$3,317,541$15,333,416
74$17,016,607$5,005,259$3,354,489$16,779,828
75$18,675,774$5,173,990$3,390,337$18,370,255
76$20,501,766$5,348,579$3,424,977$20,119,283
77$22,511,523$5,529,236$3,458,290$22,042,980
78$24,723,709$5,716,180$3,490,154$24,159,051
79$27,158,894$5,909,638$3,520,440$26,487,001
80$29,839,738$6,109,847$3,549,012$29,048,325
81$32,791,213$6,317,052$3,575,725$31,866,703
82$36,040,835$6,531,506$3,600,431$34,968,231
83$39,618,923$6,753,473$3,622,968$38,381,658
84$43,558,887$6,983,227$3,643,172$42,138,666
85$47,897,541$7,221,052$3,660,865$46,274,161
86$52,675,450$7,467,244$3,675,864$50,826,608
87$57,937,316$7,722,108$3,687,975$55,838,388
88$63,732,394$7,985,963$3,696,994$61,356,204
89$70,114,962$8,259,140$3,702,707$67,431,516
90$77,144,831$8,541,981$3,704,891$74,121,029
91$84,887,909$8,834,842$3,703,310$81,487,226
92$93,416,820$9,138,095$3,697,715$89,598,958
93$102,811,597$9,452,122$3,687,850$98,532,097
94$113,160,428$9,777,324$3,673,441$108,370,244
95$124,560,494$10,114,116$3,654,204$119,205,525
96$137,118,885$10,462,928$3,629,840$131,139,455
97$150,953,608$10,824,208$3,600,037$144,283,901
98$166,194,704$11,198,422$3,564,465$158,762,131
99$182,985,472$11,586,053$3,522,783$174,709,982
100$201,483,824$11,987,603$3,474,630$192,277,138