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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.7%
1 years$199,841$198,061$196,325$194,629$192,974$190,012
2 years$98,931$97,089$95,303$93,572$91,892$88,915
3 years$65,299$63,449$61,667$59,952$58,300$55,401
4 years$48,486$46,641$44,878$43,192$41,580$38,781
5 years$38,401$36,567$34,827$33,176$31,609$28,917
6 years$31,680$29,860$28,146$26,531$25,011$22,431
7 years$26,881$25,076$23,389$21,813$20,341$17,872
8 years$23,283$21,495$19,836$18,298$16,874$14,518
9 years$20,487$18,715$17,085$15,586$14,211$11,965
10 years$18,251$16,497$14,895$13,435$12,108$9,971
11 years$16,423$14,686$13,113$11,693$10,413$8,382
12 years$14,900$13,181$11,638$10,256$9,024$7,097
13 years$13,613$11,912$10,397$9,055$7,869$6,043
14 years$12,510$10,828$9,342$8,038$6,898$5,171
15 years$11,556$9,891$8,435$7,168$6,074$4,441
16 years$10,722$9,075$7,647$6,418$5,368$3,827
17 years$9,986$8,358$6,959$5,767$4,760$3,308
18 years$9,333$7,723$6,352$5,197$4,232$2,865
19 years$8,749$7,158$5,815$4,696$3,772$2,487
20 years$8,225$6,651$5,337$4,253$3,369$2,162
21 years$7,751$6,195$4,909$3,860$3,015$1,883
22 years$7,320$5,783$4,524$3,510$2,703$1,642
23 years$6,928$5,409$4,177$3,196$2,426$1,433
24 years$6,569$5,068$3,863$2,915$2,181$1,252
25 years$6,239$4,756$3,578$2,662$1,962$1,095
26 years$5,935$4,470$3,319$2,434$1,767$958
27 years$5,654$4,207$3,082$2,228$1,594$839
28 years$5,394$3,964$2,865$2,041$1,438$735
29 years$5,152$3,739$2,666$1,872$1,298$644
30 years$4,926$3,531$2,483$1,718$1,173$565
31 years$4,716$3,338$2,315$1,578$1,061$496
32 years$4,519$3,159$2,160$1,450$959$435
33 years$4,334$2,991$2,017$1,334$868$382
34 years$4,160$2,835$1,884$1,227$786$335
35 years$3,997$2,689$1,762$1,129$712$294
36 years$3,844$2,552$1,648$1,040$645$258
37 years$3,698$2,424$1,543$958$585$227
38 years$3,561$2,304$1,445$883$530$199
39 years$3,432$2,191$1,353$815$481$175
40 years$3,309$2,084$1,269$751$436$154
41 years$3,192$1,984$1,190$693$396$135
42 years$3,081$1,890$1,116$640$359$119
43 years$2,976$1,800$1,047$591$326$105
44 years$2,875$1,716$983$545$296$92
45 years$2,780$1,636$923$504$268$81
46 years$2,689$1,561$867$465$244$71
47 years$2,602$1,490$814$430$221$62
48 years$2,518$1,422$765$397$201$55
49 years$2,439$1,358$719$367$183$48
50 years$2,363$1,297$676$339$166$42

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 $2,647 every year, while hoping to spend $52,905 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: 47/47/6 Blend
52$2,420,000$2,420,000$2,420,000$2,420,000
53$2,669,570$2,541,310$2,503,800$2,790,681
54$2,885,576$2,609,544$2,531,387$2,942,218
55$3,121,841$2,679,348$2,558,125$3,100,792
56$3,380,376$2,750,743$2,583,930$3,271,632
57$3,663,395$2,823,751$2,608,712$3,455,888
58$3,973,336$2,898,389$2,632,378$3,654,827
59$4,312,884$2,974,677$2,654,830$3,869,844
60$4,684,995$3,052,633$2,675,964$4,102,471
61$5,092,925$3,132,273$2,695,670$4,354,397
62$5,540,262$3,213,613$2,713,832$4,627,480
63$6,030,954$3,296,665$2,730,331$4,923,765
64$6,569,352$3,381,443$2,745,039$5,245,505
65$7,160,250$3,467,957$2,757,821$5,595,177
66$7,808,924$3,556,216$2,768,537$5,975,513
67$8,521,191$3,646,228$2,777,040$6,389,518
68$9,303,456$3,737,996$2,783,174$6,840,502
69$10,162,774$3,831,523$2,786,776$7,332,113
70$11,106,920$3,926,810$2,787,675$7,868,365
71$12,144,455$4,023,854$2,785,692$8,453,681
72$13,284,816$4,122,649$2,780,639$9,092,934
73$14,538,394$4,223,185$2,772,317$9,791,490
74$15,916,640$4,325,452$2,760,520$10,555,261
75$17,432,171$4,429,433$2,745,031$11,390,761
76$19,098,885$4,535,107$2,725,622$12,305,164
77$20,932,096$4,642,452$2,702,055$13,306,376
78$22,948,676$4,751,438$2,674,080$14,403,106
79$25,167,214$4,862,032$2,641,435$15,604,950
80$27,608,193$4,974,195$2,603,846$16,922,480
81$30,294,180$5,087,882$2,561,027$18,367,347
82$33,250,042$5,203,044$2,512,677$19,952,384
83$36,503,176$5,319,622$2,458,481$21,691,737
84$40,083,771$5,437,555$2,398,111$23,600,989
85$44,025,091$5,556,770$2,331,223$25,697,314
86$48,363,787$5,677,189$2,257,456$27,999,633
87$53,140,248$5,798,726$2,176,435$30,528,798
88$58,398,972$5,921,283$2,087,765$33,307,788
89$64,188,997$6,044,755$1,991,035$36,361,922
90$70,564,354$6,169,028$1,885,814$39,719,103
91$77,584,583$6,293,974$1,771,653$43,410,079
92$85,315,288$6,419,457$1,648,081$47,468,732
93$93,828,763$6,545,326$1,514,608$51,932,403
94$103,204,670$6,671,419$1,370,719$56,842,239
95$113,530,787$6,797,561$1,215,880$62,243,585
96$124,903,845$6,923,559$1,049,530$68,186,414
97$137,430,432$7,049,208$871,084$74,725,794
98$151,228,003$7,174,285$679,931$81,922,412
99$166,425,984$7,298,550$475,434$89,843,147
100$183,167,001$7,421,746$256,928$98,561,701