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%14.3%
1 years$199,841$198,061$196,325$194,629$192,974$189,543
2 years$98,931$97,089$95,303$93,572$91,892$88,448
3 years$65,299$63,449$61,667$59,952$58,300$54,949
4 years$48,486$46,641$44,878$43,192$41,580$38,348
5 years$38,401$36,567$34,827$33,176$31,609$28,505
6 years$31,680$29,860$28,146$26,531$25,011$22,039
7 years$26,881$25,076$23,389$21,813$20,341$17,501
8 years$23,283$21,495$19,836$18,298$16,874$14,167
9 years$20,487$18,715$17,085$15,586$14,211$11,634
10 years$18,251$16,497$14,895$13,435$12,108$9,660
11 years$16,423$14,686$13,113$11,693$10,413$8,090
12 years$14,900$13,181$11,638$10,256$9,024$6,823
13 years$13,613$11,912$10,397$9,055$7,869$5,788
14 years$12,510$10,828$9,342$8,038$6,898$4,932
15 years$11,556$9,891$8,435$7,168$6,074$4,219
16 years$10,722$9,075$7,647$6,418$5,368$3,620
17 years$9,986$8,358$6,959$5,767$4,760$3,115
18 years$9,333$7,723$6,352$5,197$4,232$2,687
19 years$8,749$7,158$5,815$4,696$3,772$2,322
20 years$8,225$6,651$5,337$4,253$3,369$2,010
21 years$7,751$6,195$4,909$3,860$3,015$1,742
22 years$7,320$5,783$4,524$3,510$2,703$1,512
23 years$6,928$5,409$4,177$3,196$2,426$1,314
24 years$6,569$5,068$3,863$2,915$2,181$1,143
25 years$6,239$4,756$3,578$2,662$1,962$994
26 years$5,935$4,470$3,319$2,434$1,767$866
27 years$5,654$4,207$3,082$2,228$1,594$755
28 years$5,394$3,964$2,865$2,041$1,438$658
29 years$5,152$3,739$2,666$1,872$1,298$574
30 years$4,926$3,531$2,483$1,718$1,173$501
31 years$4,716$3,338$2,315$1,578$1,061$437
32 years$4,519$3,159$2,160$1,450$959$382
33 years$4,334$2,991$2,017$1,334$868$333
34 years$4,160$2,835$1,884$1,227$786$291
35 years$3,997$2,689$1,762$1,129$712$254
36 years$3,844$2,552$1,648$1,040$645$222
37 years$3,698$2,424$1,543$958$585$194
38 years$3,561$2,304$1,445$883$530$170
39 years$3,432$2,191$1,353$815$481$148
40 years$3,309$2,084$1,269$751$436$130
41 years$3,192$1,984$1,190$693$396$113
42 years$3,081$1,890$1,116$640$359$99
43 years$2,976$1,800$1,047$591$326$87
44 years$2,875$1,716$983$545$296$76
45 years$2,780$1,636$923$504$268$66
46 years$2,689$1,561$867$465$244$58
47 years$2,602$1,490$814$430$221$51
48 years$2,518$1,422$765$397$201$44
49 years$2,439$1,358$719$367$183$39
50 years$2,363$1,297$676$339$166$34

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 $4,395 every year, while hoping to spend $42,525 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: 76/6/18 Blend
52$2,420,000$2,420,000$2,420,000$2,420,000
53$2,671,373$2,543,113$2,505,603$2,863,118
54$2,898,607$2,622,480$2,544,295$3,069,929
55$3,147,594$2,704,310$2,582,857$3,290,907
56$3,420,507$2,788,679$2,621,241$3,532,055
57$3,719,740$2,875,666$2,659,395$3,795,373
58$4,047,931$2,965,352$2,697,262$4,083,064
59$4,407,984$3,057,818$2,734,784$4,397,556
60$4,803,098$3,153,151$2,771,900$4,741,521
61$5,236,798$3,251,438$2,808,541$5,117,903
62$5,712,963$3,352,771$2,844,640$5,529,948
63$6,235,871$3,457,242$2,880,121$5,981,228
64$6,810,231$3,564,949$2,914,906$6,475,679
65$7,441,233$3,675,989$2,948,913$7,017,639
66$8,134,592$3,790,466$2,982,055$7,611,885
67$8,896,605$3,908,484$3,014,239$8,263,680
68$9,734,211$4,030,152$3,045,369$8,978,825
69$10,655,053$4,155,581$3,075,341$9,763,709
70$11,667,551$4,284,887$3,104,047$10,625,372
71$12,780,983$4,418,189$3,131,374$11,571,569
72$14,005,570$4,555,607$3,157,202$12,610,848
73$15,352,574$4,697,267$3,181,404$13,752,625
74$16,834,403$4,843,300$3,203,848$15,007,275
75$18,464,729$4,993,839$3,224,394$16,386,232
76$20,258,615$5,149,020$3,242,894$17,902,092
77$22,232,656$5,308,985$3,259,194$19,568,736
78$24,405,142$5,473,880$3,273,131$21,401,459
79$26,796,221$5,643,854$3,284,536$23,417,114
80$29,428,095$5,819,062$3,293,227$25,634,274
81$32,325,228$5,999,664$3,299,018$28,073,401
82$35,514,575$6,185,822$3,301,709$30,757,046
83$39,025,840$6,377,705$3,301,095$33,710,057
84$42,891,750$6,575,487$3,296,956$36,959,815
85$47,148,370$6,779,347$3,289,065$40,536,494
86$51,835,436$6,989,468$3,277,181$44,473,343
87$56,996,739$7,206,040$3,261,055$48,807,001
88$62,680,528$7,429,257$3,240,422$53,577,842
89$68,939,972$7,659,321$3,215,006$58,830,358
90$75,833,660$7,896,438$3,184,519$64,613,577
91$83,426,150$8,140,821$3,148,658$70,981,526
92$91,788,585$8,392,689$3,107,106$77,993,743
93$100,999,357$8,652,267$3,059,530$85,715,837
94$111,144,850$8,919,786$3,005,582$94,220,105
95$122,320,255$9,195,486$2,944,900$103,586,220
96$134,630,468$9,479,613$2,877,102$113,901,980
97$148,191,080$9,772,418$2,801,789$125,264,136
98$163,129,466$10,074,162$2,718,544$137,779,307
99$179,585,988$10,385,113$2,626,933$151,564,985
100$197,715,322$10,705,546$2,526,497$166,750,646