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%17.5%
1 years$199,841$198,061$196,325$194,629$192,974$187,097
2 years$98,931$97,089$95,303$93,572$91,892$86,021
3 years$65,299$63,449$61,667$59,952$58,300$52,620
4 years$48,486$46,641$44,878$43,192$41,580$36,134
5 years$38,401$36,567$34,827$33,176$31,609$26,411
6 years$31,680$29,860$28,146$26,531$25,011$20,067
7 years$26,881$25,076$23,389$21,813$20,341$15,650
8 years$23,283$21,495$19,836$18,298$16,874$12,434
9 years$20,487$18,715$17,085$15,586$14,211$10,015
10 years$18,251$16,497$14,895$13,435$12,108$8,152
11 years$16,423$14,686$13,113$11,693$10,413$6,690
12 years$14,900$13,181$11,638$10,256$9,024$5,526
13 years$13,613$11,912$10,397$9,055$7,869$4,587
14 years$12,510$10,828$9,342$8,038$6,898$3,824
15 years$11,556$9,891$8,435$7,168$6,074$3,199
16 years$10,722$9,075$7,647$6,418$5,368$2,684
17 years$9,986$8,358$6,959$5,767$4,760$2,256
18 years$9,333$7,723$6,352$5,197$4,232$1,901
19 years$8,749$7,158$5,815$4,696$3,772$1,604
20 years$8,225$6,651$5,337$4,253$3,369$1,355
21 years$7,751$6,195$4,909$3,860$3,015$1,146
22 years$7,320$5,783$4,524$3,510$2,703$970
23 years$6,928$5,409$4,177$3,196$2,426$822
24 years$6,569$5,068$3,863$2,915$2,181$697
25 years$6,239$4,756$3,578$2,662$1,962$591
26 years$5,935$4,470$3,319$2,434$1,767$502
27 years$5,654$4,207$3,082$2,228$1,594$426
28 years$5,394$3,964$2,865$2,041$1,438$362
29 years$5,152$3,739$2,666$1,872$1,298$308
30 years$4,926$3,531$2,483$1,718$1,173$261
31 years$4,716$3,338$2,315$1,578$1,061$222
32 years$4,519$3,159$2,160$1,450$959$189
33 years$4,334$2,991$2,017$1,334$868$161
34 years$4,160$2,835$1,884$1,227$786$137
35 years$3,997$2,689$1,762$1,129$712$116
36 years$3,844$2,552$1,648$1,040$645$99
37 years$3,698$2,424$1,543$958$585$84
38 years$3,561$2,304$1,445$883$530$72
39 years$3,432$2,191$1,353$815$481$61
40 years$3,309$2,084$1,269$751$436$52
41 years$3,192$1,984$1,190$693$396$44
42 years$3,081$1,890$1,116$640$359$37
43 years$2,976$1,800$1,047$591$326$32
44 years$2,875$1,716$983$545$296$27
45 years$2,780$1,636$923$504$268$23
46 years$2,689$1,561$867$465$244$20
47 years$2,602$1,490$814$430$221$17
48 years$2,518$1,422$765$397$201$14
49 years$2,439$1,358$719$367$183$12
50 years$2,363$1,297$676$339$166$10

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 $5,314 every year, while hoping to spend $39,845 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: 58/29/13 Blend
52$2,420,000$2,420,000$2,420,000$2,420,000
53$2,672,321$2,544,061$2,506,551$2,818,312
54$2,902,503$2,626,326$2,548,126$2,999,767
55$3,154,829$2,711,285$2,589,758$3,192,586
56$3,431,513$2,799,031$2,631,407$3,401,828
57$3,734,999$2,889,655$2,673,031$3,629,075
58$4,067,975$2,983,253$2,714,583$3,876,070
59$4,433,402$3,079,927$2,756,016$4,144,730
60$4,834,544$3,179,778$2,797,277$4,437,164
61$5,274,993$3,282,913$2,838,311$4,755,695
62$5,758,709$3,389,442$2,879,061$5,102,878
63$6,290,052$3,499,480$2,919,465$5,481,528
64$6,873,828$3,613,144$2,959,457$5,894,741
65$7,515,327$3,730,557$2,998,968$6,345,930
66$8,220,380$3,851,845$3,037,923$6,838,849
67$8,995,412$3,977,138$3,076,247$7,377,633
68$9,847,498$4,106,572$3,113,855$7,966,836
69$10,784,436$4,240,287$3,150,662$8,611,472
70$11,814,815$4,378,427$3,186,575$9,317,063
71$12,948,098$4,521,143$3,221,498$10,089,691
72$14,194,715$4,668,589$3,255,329$10,936,054
73$15,566,152$4,820,926$3,287,959$11,863,529
74$17,075,068$4,978,320$3,319,274$12,880,244
75$18,735,411$5,140,944$3,349,156$13,995,148
76$20,562,548$5,308,975$3,377,477$15,218,101
77$22,573,410$5,482,597$3,404,105$16,559,964
78$24,786,655$5,662,001$3,428,899$18,032,702
79$27,222,839$5,847,385$3,451,713$19,649,493
80$29,904,615$6,038,953$3,472,392$21,424,857
81$32,856,941$6,236,917$3,490,772$23,374,790
82$36,107,319$6,441,496$3,506,683$25,516,914
83$39,686,053$6,652,916$3,519,944$27,870,643
84$43,626,535$6,871,414$3,530,367$30,457,367
85$47,965,561$7,097,232$3,537,753$33,300,650
86$52,743,674$7,330,622$3,541,894$36,426,456
87$58,005,551$7,571,846$3,542,570$39,863,391
88$63,800,424$7,821,173$3,539,553$43,642,974
89$70,182,541$8,078,884$3,532,602$47,799,930
90$77,211,680$8,345,269$3,521,463$52,372,522
91$84,953,712$8,620,628$3,505,873$57,402,908
92$93,481,224$8,905,272$3,485,554$62,937,542
93$102,874,203$9,199,525$3,460,214$69,027,605
94$113,220,790$9,503,719$3,429,549$75,729,496
95$124,618,110$9,818,201$3,393,239$83,105,357
96$137,173,195$10,143,331$3,350,950$91,223,661
97$151,003,986$10,479,479$3,302,331$100,159,859
98$166,240,450$10,827,030$3,247,017$109,997,088
99$183,025,805$11,186,385$3,184,622$120,826,958
100$201,517,876$11,557,956$3,114,745$132,750,416