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%11%
1 years$198,190$196,424$194,702$193,021$191,379$190,573
2 years$98,114$96,286$94,516$92,799$91,133$90,319
3 years$64,759$62,924$61,158$59,457$57,819$57,022
4 years$48,086$46,256$44,507$42,835$41,237$40,464
5 years$38,084$36,265$34,539$32,902$31,347$30,600
6 years$31,418$29,613$27,913$26,312$24,804$24,084
7 years$26,659$24,869$23,196$21,632$20,172$19,479
8 years$23,091$21,318$19,672$18,147$16,735$16,069
9 years$20,318$18,561$16,943$15,457$14,093$13,455
10 years$18,100$16,360$14,772$13,324$12,008$11,397
11 years$16,287$14,565$13,005$11,596$10,327$9,742
12 years$14,777$13,072$11,541$10,171$8,950$8,390
13 years$13,500$11,814$10,311$8,980$7,804$7,271
14 years$12,407$10,738$9,265$7,971$6,841$6,332
15 years$11,460$9,810$8,365$7,109$6,023$5,539
16 years$10,633$9,000$7,584$6,365$5,324$4,863
17 years$9,904$8,289$6,901$5,719$4,720$4,282
18 years$9,256$7,659$6,300$5,154$4,197$3,782
19 years$8,677$7,099$5,767$4,657$3,741$3,347
20 years$8,157$6,596$5,293$4,218$3,341$2,968
21 years$7,687$6,144$4,868$3,828$2,990$2,637
22 years$7,260$5,735$4,487$3,481$2,680$2,347
23 years$6,871$5,364$4,143$3,170$2,406$2,091
24 years$6,515$5,026$3,832$2,891$2,163$1,865
25 years$6,188$4,717$3,549$2,640$1,946$1,666
26 years$5,886$4,433$3,291$2,414$1,753$1,489
27 years$5,607$4,172$3,056$2,210$1,580$1,332
28 years$5,349$3,931$2,841$2,025$1,426$1,192
29 years$5,109$3,708$2,644$1,857$1,288$1,068
30 years$4,885$3,502$2,463$1,704$1,163$958
31 years$4,677$3,311$2,296$1,565$1,052$859
32 years$4,481$3,133$2,142$1,438$951$771
33 years$4,298$2,967$2,000$1,323$861$692
34 years$4,126$2,812$1,869$1,217$780$621
35 years$3,964$2,667$1,747$1,120$706$558
36 years$3,812$2,531$1,634$1,032$640$501
37 years$3,668$2,404$1,530$951$580$451
38 years$3,532$2,285$1,433$876$526$405
39 years$3,403$2,173$1,342$808$477$364
40 years$3,281$2,067$1,258$745$432$328
41 years$3,165$1,968$1,180$687$392$295
42 years$3,056$1,874$1,107$634$356$265
43 years$2,951$1,785$1,038$586$323$238
44 years$2,852$1,702$975$541$293$215
45 years$2,757$1,623$915$499$266$193
46 years$2,666$1,548$860$461$242$174
47 years$2,580$1,477$808$426$219$156
48 years$2,498$1,410$759$394$199$141
49 years$2,419$1,347$713$364$181$127
50 years$2,343$1,287$671$336$164$114

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 $3,424 every year, while hoping to spend $23,635 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: 57/24/19 Blend
52$2,400,000$2,400,000$2,400,000$2,400,000
53$2,648,332$2,521,132$2,483,932$2,785,731
54$2,893,314$2,619,520$2,541,996$2,977,974
55$3,162,493$2,721,937$2,601,213$3,184,529
56$3,458,310$2,828,555$2,661,597$3,409,105
57$3,783,458$2,939,555$2,723,161$3,653,442
58$4,140,902$3,055,124$2,785,918$3,919,452
59$4,533,909$3,175,459$2,849,881$4,209,239
60$4,966,076$3,300,766$2,915,061$4,525,118
61$5,441,371$3,431,259$2,981,471$4,869,636
62$5,964,162$3,567,161$3,049,121$5,245,596
63$6,539,262$3,708,708$3,118,022$5,656,082
64$7,171,976$3,856,143$3,188,185$6,104,491
65$7,868,146$4,009,722$3,259,617$6,594,557
66$8,634,211$4,169,713$3,332,328$7,130,395
67$9,477,265$4,336,394$3,406,326$7,716,533
68$10,405,125$4,510,056$3,481,617$8,357,956
69$11,426,404$4,691,005$3,558,208$9,060,151
70$12,550,593$4,879,560$3,636,103$9,829,161
71$13,788,147$5,076,052$3,715,306$10,671,639
72$15,150,590$5,280,831$3,795,821$11,594,912
73$16,650,618$5,494,259$3,877,649$12,607,045
74$18,302,220$5,716,717$3,960,789$13,716,924
75$20,120,813$5,948,603$4,045,242$14,934,331
76$22,123,384$6,190,332$4,131,005$16,270,039
77$24,328,649$6,442,338$4,218,074$17,735,916
78$26,757,234$6,705,076$4,306,443$19,345,031
79$29,431,868$6,979,021$4,396,105$21,111,777
80$32,377,595$7,264,668$4,487,050$23,052,010
81$35,622,011$7,562,539$4,579,268$25,183,194
82$39,195,528$7,873,175$4,672,745$27,524,563
83$43,131,656$8,197,144$4,767,466$30,097,309
84$47,467,321$8,535,041$4,863,413$32,924,772
85$52,243,216$8,887,486$4,960,565$36,032,665
86$57,504,180$9,255,129$5,058,900$39,449,312
87$63,299,626$9,638,650$5,158,393$43,205,918
88$69,684,003$10,038,759$5,259,014$47,336,859
89$76,717,312$10,456,199$5,360,732$51,880,004
90$84,465,673$10,891,748$5,463,512$56,877,074
91$93,001,948$11,346,220$5,567,316$62,374,036
92$102,406,427$11,820,465$5,672,101$68,421,528
93$112,767,590$12,315,375$5,777,823$75,075,343
94$124,182,935$12,831,879$5,884,432$82,396,950
95$136,759,907$13,370,954$5,991,873$90,454,073
96$150,616,904$13,933,618$6,100,087$99,321,329
97$165,884,402$14,520,938$6,209,013$109,080,930
98$182,706,178$15,134,031$6,318,582$119,823,458
99$201,240,674$15,774,065$6,428,721$131,648,715
100$221,662,491$16,442,262$6,539,352$144,666,668