Can I retire at age 53 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$198,190$196,424$194,702$193,021$191,379$186,074
2 years$98,114$96,286$94,516$92,799$91,133$85,827
3 years$64,759$62,924$61,158$59,457$57,819$52,679
4 years$48,086$46,256$44,507$42,835$41,237$36,303
5 years$38,084$36,265$34,539$32,902$31,347$26,632
6 years$31,418$29,613$27,913$26,312$24,804$20,313
7 years$26,659$24,869$23,196$21,632$20,172$15,904
8 years$23,091$21,318$19,672$18,147$16,735$12,688
9 years$20,318$18,561$16,943$15,457$14,093$10,264
10 years$18,100$16,360$14,772$13,324$12,008$8,391
11 years$16,287$14,565$13,005$11,596$10,327$6,917
12 years$14,777$13,072$11,541$10,171$8,950$5,740
13 years$13,500$11,814$10,311$8,980$7,804$4,788
14 years$12,407$10,738$9,265$7,971$6,841$4,011
15 years$11,460$9,810$8,365$7,109$6,023$3,372
16 years$10,633$9,000$7,584$6,365$5,324$2,843
17 years$9,904$8,289$6,901$5,719$4,720$2,402
18 years$9,256$7,659$6,300$5,154$4,197$2,034
19 years$8,677$7,099$5,767$4,657$3,741$1,725
20 years$8,157$6,596$5,293$4,218$3,341$1,466
21 years$7,687$6,144$4,868$3,828$2,990$1,246
22 years$7,260$5,735$4,487$3,481$2,680$1,061
23 years$6,871$5,364$4,143$3,170$2,406$904
24 years$6,515$5,026$3,832$2,891$2,163$771
25 years$6,188$4,717$3,549$2,640$1,946$658
26 years$5,886$4,433$3,291$2,414$1,753$561
27 years$5,607$4,172$3,056$2,210$1,580$479
28 years$5,349$3,931$2,841$2,025$1,426$409
29 years$5,109$3,708$2,644$1,857$1,288$350
30 years$4,885$3,502$2,463$1,704$1,163$299
31 years$4,677$3,311$2,296$1,565$1,052$256
32 years$4,481$3,133$2,142$1,438$951$219
33 years$4,298$2,967$2,000$1,323$861$187
34 years$4,126$2,812$1,869$1,217$780$160
35 years$3,964$2,667$1,747$1,120$706$137
36 years$3,812$2,531$1,634$1,032$640$117
37 years$3,668$2,404$1,530$951$580$100
38 years$3,532$2,285$1,433$876$526$86
39 years$3,403$2,173$1,342$808$477$73
40 years$3,281$2,067$1,258$745$432$63
41 years$3,165$1,968$1,180$687$392$54
42 years$3,056$1,874$1,107$634$356$46
43 years$2,951$1,785$1,038$586$323$39
44 years$2,852$1,702$975$541$293$34
45 years$2,757$1,623$915$499$266$29
46 years$2,666$1,548$860$461$242$25
47 years$2,580$1,477$808$426$219$21
48 years$2,498$1,410$759$394$199$18
49 years$2,419$1,347$713$364$181$16
50 years$2,343$1,287$671$336$164$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,400,000, adding $3,614 every year, while hoping to spend $58,127 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: 30/48/22 Blend
52$2,400,000$2,400,000$2,400,000$2,400,000
53$2,648,528$2,521,328$2,484,128$2,709,729
54$2,856,831$2,583,026$2,505,499$2,818,552
55$3,084,433$2,645,800$2,525,639$2,930,104
56$3,333,241$2,709,639$2,544,443$3,048,903
57$3,605,354$2,774,535$2,561,805$3,175,615
58$3,903,085$2,840,471$2,577,610$3,310,970
59$4,228,979$2,907,434$2,591,739$3,455,776
60$4,585,839$2,975,402$2,604,067$3,610,920
61$4,976,752$3,044,354$2,614,460$3,777,382
62$5,405,117$3,114,265$2,622,782$3,956,242
63$5,874,680$3,185,104$2,628,885$4,148,690
64$6,389,562$3,256,839$2,632,618$4,356,037
65$6,954,305$3,329,432$2,633,819$4,579,730
66$7,573,913$3,402,843$2,632,320$4,821,363
67$8,253,893$3,477,023$2,627,944$5,082,695
68$9,000,316$3,551,923$2,620,506$5,365,664
69$9,819,867$3,627,486$2,609,811$5,672,408
70$10,719,910$3,703,649$2,595,656$6,005,284
71$11,708,557$3,780,344$2,577,827$6,366,892
72$12,794,745$3,857,497$2,556,100$6,760,096
73$13,988,320$3,935,025$2,530,241$7,188,059
74$15,300,128$4,012,841$2,500,003$7,654,265
75$16,742,118$4,090,847$2,465,130$8,162,558
76$18,327,454$4,168,938$2,425,351$8,717,176
77$20,070,640$4,247,002$2,380,386$9,322,793
78$21,987,655$4,324,915$2,329,939$9,984,564
79$24,096,105$4,402,545$2,273,701$10,708,170
80$26,415,386$4,479,748$2,211,349$11,499,881
81$28,966,871$4,556,371$2,142,544$12,366,608
82$31,774,106$4,632,248$2,066,934$13,315,970
83$34,863,037$4,707,200$1,984,148$14,356,373
84$38,262,250$4,781,035$1,893,800$15,497,083
85$42,003,242$4,853,549$1,795,486$16,748,317
86$46,120,721$4,924,521$1,688,782$18,121,343
87$50,652,926$4,993,714$1,573,248$19,628,585
88$55,641,995$5,060,877$1,448,423$21,283,741
89$61,134,357$5,125,738$1,313,823$23,101,915
90$67,181,172$5,188,010$1,168,947$25,099,760
91$73,838,812$5,247,382$1,013,266$27,295,640
92$81,169,393$5,303,527$846,233$29,709,799
93$89,241,363$5,356,091$667,274$32,364,559
94$98,130,144$5,404,701$475,789$35,284,530
95$107,918,844$5,448,957$271,154$38,496,844
96$118,699,044$5,488,434$52,715$42,031,416
97$130,571,657$5,522,678$0$45,921,226
98$143,647,884$5,551,207$0$50,244,978
99$158,050,260$5,573,509$0$55,016,367
100$173,913,813$5,589,037$0$60,267,372