Can I retire at age 53 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$199,841$198,061$196,325$194,629$192,974$191,038
2 years$98,931$97,089$95,303$93,572$91,892$89,943
3 years$65,299$63,449$61,667$59,952$58,300$56,397
4 years$48,486$46,641$44,878$43,192$41,580$39,738
5 years$38,401$36,567$34,827$33,176$31,609$29,833
6 years$31,680$29,860$28,146$26,531$25,011$23,304
7 years$26,881$25,076$23,389$21,813$20,341$18,703
8 years$23,283$21,495$19,836$18,298$16,874$15,307
9 years$20,487$18,715$17,085$15,586$14,211$12,712
10 years$18,251$16,497$14,895$13,435$12,108$10,677
11 years$16,423$14,686$13,113$11,693$10,413$9,050
12 years$14,900$13,181$11,638$10,256$9,024$7,726
13 years$13,613$11,912$10,397$9,055$7,869$6,635
14 years$12,510$10,828$9,342$8,038$6,898$5,726
15 years$11,556$9,891$8,435$7,168$6,074$4,962
16 years$10,722$9,075$7,647$6,418$5,368$4,315
17 years$9,986$8,358$6,959$5,767$4,760$3,763
18 years$9,333$7,723$6,352$5,197$4,232$3,290
19 years$8,749$7,158$5,815$4,696$3,772$2,883
20 years$8,225$6,651$5,337$4,253$3,369$2,531
21 years$7,751$6,195$4,909$3,860$3,015$2,226
22 years$7,320$5,783$4,524$3,510$2,703$1,960
23 years$6,928$5,409$4,177$3,196$2,426$1,728
24 years$6,569$5,068$3,863$2,915$2,181$1,525
25 years$6,239$4,756$3,578$2,662$1,962$1,347
26 years$5,935$4,470$3,319$2,434$1,767$1,191
27 years$5,654$4,207$3,082$2,228$1,594$1,054
28 years$5,394$3,964$2,865$2,041$1,438$933
29 years$5,152$3,739$2,666$1,872$1,298$826
30 years$4,926$3,531$2,483$1,718$1,173$732
31 years$4,716$3,338$2,315$1,578$1,061$649
32 years$4,519$3,159$2,160$1,450$959$576
33 years$4,334$2,991$2,017$1,334$868$511
34 years$4,160$2,835$1,884$1,227$786$454
35 years$3,997$2,689$1,762$1,129$712$403
36 years$3,844$2,552$1,648$1,040$645$358
37 years$3,698$2,424$1,543$958$585$318
38 years$3,561$2,304$1,445$883$530$282
39 years$3,432$2,191$1,353$815$481$251
40 years$3,309$2,084$1,269$751$436$223
41 years$3,192$1,984$1,190$693$396$198
42 years$3,081$1,890$1,116$640$359$176
43 years$2,976$1,800$1,047$591$326$156
44 years$2,875$1,716$983$545$296$139
45 years$2,780$1,636$923$504$268$124
46 years$2,689$1,561$867$465$244$110
47 years$2,602$1,490$814$430$221$98
48 years$2,518$1,422$765$397$201$87
49 years$2,439$1,358$719$367$183$77
50 years$2,363$1,297$676$339$166$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,420,000, adding $3,889 every year, while hoping to spend $37,100 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: 44/30/26 Blend
52$2,420,000$2,420,000$2,420,000$2,420,000
53$2,670,852$2,542,592$2,505,082$2,768,063
54$2,903,804$2,627,704$2,549,528$2,922,714
55$3,159,275$2,715,744$2,594,219$3,086,387
56$3,439,521$2,806,816$2,639,125$3,263,087
57$3,747,029$2,901,026$2,684,213$3,454,046
58$4,084,538$2,998,489$2,729,446$3,660,616
59$4,455,065$3,099,319$2,774,787$3,884,289
60$4,861,934$3,203,639$2,820,195$4,126,701
61$5,308,806$3,311,572$2,865,626$4,389,657
62$5,799,714$3,423,248$2,911,035$4,675,141
63$6,339,101$3,538,804$2,956,371$4,985,335
64$6,931,862$3,658,378$3,001,581$5,322,644
65$7,583,389$3,782,115$3,046,611$5,689,712
66$8,299,622$3,910,167$3,091,401$6,089,452
67$9,087,108$4,042,689$3,135,886$6,525,069
68$9,953,056$4,179,843$3,180,002$7,000,094
69$10,905,411$4,321,799$3,223,675$7,518,412
70$11,952,926$4,468,730$3,266,832$8,084,302
71$13,105,245$4,620,819$3,309,391$8,702,477
72$14,372,995$4,778,254$3,351,270$9,378,125
73$15,767,882$4,941,230$3,392,379$10,116,961
74$17,302,805$5,109,950$3,432,624$10,925,278
75$18,991,979$5,284,625$3,471,904$11,810,008
76$20,851,064$5,465,474$3,510,116$12,778,785
77$22,897,315$5,652,725$3,547,148$13,840,018
78$25,149,747$5,846,614$3,582,882$15,002,969
79$27,629,308$6,047,386$3,617,197$16,277,842
80$30,359,086$6,255,296$3,649,960$17,675,873
81$33,364,515$6,470,608$3,681,037$19,209,446
82$36,673,626$6,693,598$3,710,282$20,892,197
83$40,317,302$6,924,551$3,737,543$22,739,151
84$44,329,577$7,163,764$3,762,661$24,766,862
85$48,747,952$7,411,546$3,785,468$26,993,564
86$53,613,748$7,668,217$3,805,786$29,439,348
87$58,972,501$7,934,111$3,823,431$32,126,347
88$64,874,387$8,209,572$3,838,206$35,078,948
89$71,374,696$8,494,963$3,849,907$38,324,018
90$78,534,354$8,790,656$3,858,319$41,891,159
91$86,420,500$9,097,040$3,863,214$45,812,987
92$95,107,116$9,414,519$3,864,357$50,125,439
93$104,675,726$9,743,515$3,861,497$54,868,109
94$115,216,166$10,084,463$3,854,373$60,084,624
95$126,827,432$10,437,818$3,842,711$65,823,056
96$139,618,612$10,804,053$3,826,224$72,136,370
97$153,709,918$11,183,660$3,804,610$79,082,929
98$169,233,819$11,577,148$3,777,554$86,727,041
99$186,336,291$11,985,051$3,744,724$95,139,565
100$205,178,194$12,407,920$3,705,774$104,398,581