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

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$201,493$199,698$197,947$196,238$194,569$191,110
2 years$99,749$97,891$96,091$94,345$92,652$89,179
3 years$65,839$63,973$62,177$60,448$58,782$55,403
4 years$48,887$47,027$45,249$43,549$41,924$38,665
5 years$38,719$36,870$35,115$33,450$31,870$28,740
6 years$31,942$30,107$28,378$26,750$25,218$22,221
7 years$27,103$25,284$23,582$21,993$20,509$17,646
8 years$23,476$21,673$20,000$18,449$17,014$14,284
9 years$20,656$18,870$17,226$15,715$14,328$11,730
10 years$18,402$16,633$15,018$13,546$12,208$9,740
11 years$16,558$14,807$13,221$11,789$10,500$8,157
12 years$15,023$13,290$11,734$10,341$9,099$6,880
13 years$13,725$12,011$10,483$9,129$7,934$5,835
14 years$12,614$10,917$9,419$8,104$6,955$4,972
15 years$11,651$9,973$8,504$7,227$6,124$4,254
16 years$10,810$9,150$7,710$6,471$5,412$3,650
17 years$10,069$8,427$7,016$5,814$4,799$3,141
18 years$9,410$7,787$6,405$5,240$4,267$2,709
19 years$8,822$7,217$5,863$4,735$3,803$2,341
20 years$8,293$6,706$5,381$4,288$3,397$2,027
21 years$7,815$6,247$4,950$3,892$3,040$1,757
22 years$7,381$5,831$4,562$3,539$2,725$1,525
23 years$6,985$5,454$4,212$3,223$2,446$1,325
24 years$6,623$5,110$3,895$2,939$2,199$1,152
25 years$6,291$4,795$3,608$2,684$1,978$1,003
26 years$5,984$4,507$3,346$2,454$1,782$873
27 years$5,701$4,241$3,107$2,247$1,607$761
28 years$5,438$3,997$2,889$2,058$1,450$663
29 years$5,194$3,770$2,688$1,888$1,309$579
30 years$4,967$3,561$2,504$1,732$1,183$505
31 years$4,754$3,366$2,334$1,591$1,069$441
32 years$4,556$3,185$2,178$1,462$967$385
33 years$4,370$3,016$2,033$1,345$875$336
34 years$4,195$2,859$1,900$1,237$793$294
35 years$4,030$2,711$1,776$1,139$718$256
36 years$3,875$2,573$1,662$1,049$650$224
37 years$3,729$2,444$1,555$966$590$196
38 years$3,591$2,323$1,457$891$534$171
39 years$3,460$2,209$1,365$821$485$150
40 years$3,336$2,102$1,279$758$440$131
41 years$3,218$2,000$1,199$699$399$114
42 years$3,106$1,905$1,125$645$362$100
43 years$3,000$1,815$1,056$595$328$88
44 years$2,899$1,730$991$550$298$77
45 years$2,803$1,650$930$508$271$67
46 years$2,711$1,574$874$469$246$59
47 years$2,623$1,502$821$433$223$51
48 years$2,539$1,434$772$400$203$45
49 years$2,459$1,369$725$370$184$39
50 years$2,382$1,308$682$342$167$34

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 $3,962 every year, while hoping to spend $49,791 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: 72/14/14 Blend
52$2,440,000$2,440,000$2,440,000$2,440,000
53$2,692,967$2,563,647$2,525,827$2,878,319
54$2,914,672$2,636,288$2,557,465$3,074,325
55$3,157,323$2,710,820$2,588,494$3,282,431
56$3,423,002$2,787,283$2,618,841$3,508,998
57$3,714,006$2,865,717$2,648,429$3,755,843
58$4,032,860$2,946,163$2,677,177$4,024,964
59$4,382,348$3,028,661$2,704,999$4,318,563
60$4,765,535$3,113,253$2,731,804$4,639,066
61$5,185,797$3,199,980$2,757,497$4,989,144
62$5,646,852$3,288,883$2,781,977$5,371,739
63$6,152,797$3,380,004$2,805,139$5,790,090
64$6,708,141$3,473,384$2,826,871$6,247,768
65$7,317,856$3,569,063$2,847,054$6,748,705
66$7,987,413$3,667,084$2,865,567$7,297,233
67$8,722,845$3,767,486$2,882,279$7,898,122
68$9,530,793$3,870,311$2,897,053$8,556,631
69$10,418,575$3,975,598$2,909,746$9,278,552
70$11,394,255$4,083,387$2,920,207$10,070,264
71$12,466,712$4,193,716$2,928,278$10,938,798
72$13,645,733$4,306,624$2,933,791$11,891,900
73$14,942,097$4,422,148$2,936,573$12,938,104
74$16,367,683$4,540,325$2,936,439$14,086,812
75$17,935,575$4,661,189$2,933,198$15,348,385
76$19,660,191$4,784,775$2,926,648$16,734,239
77$21,557,416$4,911,115$2,916,577$18,256,951
78$23,644,753$5,040,241$2,902,763$19,930,382
79$25,941,486$5,172,180$2,884,973$21,769,802
80$28,468,861$5,306,961$2,862,964$23,792,040
81$31,250,292$5,444,608$2,836,479$26,015,639
82$34,311,572$5,585,145$2,805,253$28,461,030
83$37,681,127$5,728,592$2,769,003$31,150,729
84$41,390,274$5,874,965$2,727,436$34,109,546
85$45,473,523$6,024,279$2,680,246$37,364,818
86$49,968,898$6,176,544$2,627,111$40,946,674
87$54,918,300$6,331,769$2,567,693$44,888,309
88$60,367,897$6,489,956$2,501,641$49,226,306
89$66,368,562$6,651,104$2,428,586$54,000,977
90$72,976,354$6,815,207$2,348,142$59,256,744
91$80,253,044$6,982,254$2,259,907$65,042,560
92$88,266,700$7,152,229$2,163,459$71,412,369
93$97,092,325$7,325,110$2,058,356$78,425,616
94$106,812,570$7,500,869$1,944,140$86,147,809
95$117,518,511$7,679,470$1,820,326$94,651,135
96$129,310,505$7,860,870$1,686,414$104,015,146
97$142,299,145$8,045,020$1,541,876$114,327,505
98$156,606,292$8,231,861$1,386,164$125,684,816
99$172,366,237$8,421,326$1,218,704$138,193,536
100$189,726,958$8,613,336$1,038,895$151,970,982