Can I retire at age 53 with 2,440,000?

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 $2,440,000?

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%
1 years$201,493$199,698$197,947$196,238$194,569$193,668
2 years$99,749$97,891$96,091$94,345$92,652$91,742
3 years$65,839$63,973$62,177$60,448$58,782$57,892
4 years$48,887$47,027$45,249$43,549$41,924$41,060
5 years$38,719$36,870$35,115$33,450$31,870$31,035
6 years$31,942$30,107$28,378$26,750$25,218$24,413
7 years$27,103$25,284$23,582$21,993$20,509$19,735
8 years$23,476$21,673$20,000$18,449$17,014$16,271
9 years$20,656$18,870$17,226$15,715$14,328$13,616
10 years$18,402$16,633$15,018$13,546$12,208$11,526
11 years$16,558$14,807$13,221$11,789$10,500$9,847
12 years$15,023$13,290$11,734$10,341$9,099$8,475
13 years$13,725$12,011$10,483$9,129$7,934$7,339
14 years$12,614$10,917$9,419$8,104$6,955$6,388
15 years$11,651$9,973$8,504$7,227$6,124$5,584
16 years$10,810$9,150$7,710$6,471$5,412$4,899
17 years$10,069$8,427$7,016$5,814$4,799$4,311
18 years$9,410$7,787$6,405$5,240$4,267$3,804
19 years$8,822$7,217$5,863$4,735$3,803$3,365
20 years$8,293$6,706$5,381$4,288$3,397$2,982
21 years$7,815$6,247$4,950$3,892$3,040$2,647
22 years$7,381$5,831$4,562$3,539$2,725$2,354
23 years$6,985$5,454$4,212$3,223$2,446$2,096
24 years$6,623$5,110$3,895$2,939$2,199$1,868
25 years$6,291$4,795$3,608$2,684$1,978$1,667
26 years$5,984$4,507$3,346$2,454$1,782$1,489
27 years$5,701$4,241$3,107$2,247$1,607$1,331
28 years$5,438$3,997$2,889$2,058$1,450$1,191
29 years$5,194$3,770$2,688$1,888$1,309$1,066
30 years$4,967$3,561$2,504$1,732$1,183$955
31 years$4,754$3,366$2,334$1,591$1,069$855
32 years$4,556$3,185$2,178$1,462$967$767
33 years$4,370$3,016$2,033$1,345$875$688
34 years$4,195$2,859$1,900$1,237$793$617
35 years$4,030$2,711$1,776$1,139$718$554
36 years$3,875$2,573$1,662$1,049$650$497
37 years$3,729$2,444$1,555$966$590$447
38 years$3,591$2,323$1,457$891$534$401
39 years$3,460$2,209$1,365$821$485$360
40 years$3,336$2,102$1,279$758$440$324
41 years$3,218$2,000$1,199$699$399$291
42 years$3,106$1,905$1,125$645$362$262
43 years$3,000$1,815$1,056$595$328$235
44 years$2,899$1,730$991$550$298$211
45 years$2,803$1,650$930$508$271$190
46 years$2,711$1,574$874$469$246$171
47 years$2,623$1,502$821$433$223$154
48 years$2,539$1,434$772$400$203$138
49 years$2,459$1,369$725$370$184$124
50 years$2,382$1,308$682$342$167$112

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,440,000, adding $5,921 every year, while hoping to spend $43,349 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: 67/6/27 Blend
52$2,440,000$2,440,000$2,440,000$2,440,000
53$2,694,988$2,565,668$2,527,848$2,856,193
54$2,923,753$2,645,262$2,566,407$3,045,065
55$3,174,400$2,727,304$2,604,806$3,246,123
56$3,449,114$2,811,868$2,642,993$3,465,054
57$3,750,304$2,899,029$2,680,913$3,703,626
58$4,080,620$2,988,866$2,718,508$3,963,784
59$4,442,983$3,081,461$2,755,719$4,247,675
60$4,840,612$3,176,896$2,792,479$4,557,661
61$5,277,048$3,275,258$2,828,721$4,896,344
62$5,756,195$3,376,634$2,864,371$5,266,591
63$6,282,354$3,481,116$2,899,354$5,671,562
64$6,860,259$3,588,796$2,933,589$6,114,738
65$7,495,131$3,699,772$2,966,989$6,599,953
66$8,192,715$3,814,142$2,999,464$7,131,432
67$8,959,345$3,932,008$3,030,919$7,713,831
68$9,801,997$4,053,476$3,061,254$8,352,279
69$10,728,357$4,178,652$3,090,362$9,052,429
70$11,746,892$4,307,649$3,118,132$9,820,508
71$12,866,931$4,440,580$3,144,445$10,663,379
72$14,098,753$4,577,563$3,169,179$11,588,603
73$15,453,682$4,718,719$3,192,202$12,604,514
74$16,944,194$4,864,173$3,213,377$13,720,293
75$18,584,036$5,014,052$3,232,560$14,946,058
76$20,388,357$5,168,489$3,249,600$16,292,958
77$22,373,843$5,327,619$3,264,335$17,773,281
78$24,558,884$5,491,581$3,276,599$19,400,564
79$26,963,741$5,660,519$3,286,216$21,189,728
80$29,610,738$5,834,581$3,293,000$23,157,214
81$32,524,475$6,013,917$3,296,757$25,321,140
82$35,732,057$6,198,684$3,297,284$27,701,471
83$39,263,349$6,389,042$3,294,366$30,320,211
84$43,151,263$6,585,157$3,287,779$33,201,605
85$47,432,059$6,787,197$3,277,287$36,372,373
86$52,145,697$6,995,338$3,262,644$39,861,960
87$57,336,206$7,209,758$3,243,590$43,702,814
88$63,052,104$7,430,641$3,219,856$47,930,694
89$69,346,853$7,658,177$3,191,156$52,585,007
90$76,279,365$7,892,560$3,157,192$57,709,178
91$83,914,556$8,133,991$3,117,653$63,351,064
92$92,323,959$8,382,675$3,072,213$69,563,402
93$101,586,400$8,638,823$3,020,530$76,404,312
94$111,788,740$8,902,653$2,962,244$83,937,840
95$123,026,695$9,174,386$2,896,983$92,234,568
96$135,405,740$9,454,253$2,824,354$101,372,276
97$149,042,103$9,742,489$2,743,947$111,436,682
98$164,063,861$10,039,335$2,655,334$122,522,246
99$180,612,152$10,345,040$2,558,064$134,733,067
100$198,842,503$10,659,858$2,451,671$148,183,861