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%16.5%
1 years$201,493$199,698$197,947$196,238$194,569$189,404
2 years$99,749$97,891$96,091$94,345$92,652$87,485
3 years$65,839$63,973$62,177$60,448$58,782$53,774
4 years$48,887$47,027$45,249$43,549$41,924$37,113
5 years$38,719$36,870$35,115$33,450$31,870$27,270
6 years$31,942$30,107$28,378$26,750$25,218$20,833
7 years$27,103$25,284$23,582$21,993$20,509$16,340
8 years$23,476$21,673$20,000$18,449$17,014$13,059
9 years$20,656$18,870$17,226$15,715$14,328$10,583
10 years$18,402$16,633$15,018$13,546$12,208$8,668
11 years$16,558$14,807$13,221$11,789$10,500$7,159
12 years$15,023$13,290$11,734$10,341$9,099$5,952
13 years$13,725$12,011$10,483$9,129$7,934$4,975
14 years$12,614$10,917$9,419$8,104$6,955$4,176
15 years$11,651$9,973$8,504$7,227$6,124$3,518
16 years$10,810$9,150$7,710$6,471$5,412$2,972
17 years$10,069$8,427$7,016$5,814$4,799$2,518
18 years$9,410$7,787$6,405$5,240$4,267$2,137
19 years$8,822$7,217$5,863$4,735$3,803$1,816
20 years$8,293$6,706$5,381$4,288$3,397$1,546
21 years$7,815$6,247$4,950$3,892$3,040$1,318
22 years$7,381$5,831$4,562$3,539$2,725$1,125
23 years$6,985$5,454$4,212$3,223$2,446$961
24 years$6,623$5,110$3,895$2,939$2,199$821
25 years$6,291$4,795$3,608$2,684$1,978$702
26 years$5,984$4,507$3,346$2,454$1,782$601
27 years$5,701$4,241$3,107$2,247$1,607$514
28 years$5,438$3,997$2,889$2,058$1,450$440
29 years$5,194$3,770$2,688$1,888$1,309$377
30 years$4,967$3,561$2,504$1,732$1,183$323
31 years$4,754$3,366$2,334$1,591$1,069$277
32 years$4,556$3,185$2,178$1,462$967$238
33 years$4,370$3,016$2,033$1,345$875$204
34 years$4,195$2,859$1,900$1,237$793$175
35 years$4,030$2,711$1,776$1,139$718$150
36 years$3,875$2,573$1,662$1,049$650$129
37 years$3,729$2,444$1,555$966$590$110
38 years$3,591$2,323$1,457$891$534$95
39 years$3,460$2,209$1,365$821$485$81
40 years$3,336$2,102$1,279$758$440$70
41 years$3,218$2,000$1,199$699$399$60
42 years$3,106$1,905$1,125$645$362$51
43 years$3,000$1,815$1,056$595$328$44
44 years$2,899$1,730$991$550$298$38
45 years$2,803$1,650$930$508$271$32
46 years$2,711$1,574$874$469$246$28
47 years$2,623$1,502$821$433$223$24
48 years$2,539$1,434$772$400$203$20
49 years$2,459$1,369$725$370$184$18
50 years$2,382$1,308$682$342$167$15

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 $5,097 every year, while hoping to spend $33,168 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: 62/12/26 Blend
52$2,440,000$2,440,000$2,440,000$2,440,000
53$2,694,138$2,564,818$2,526,998$2,842,222
54$2,933,649$2,655,203$2,576,361$3,033,664
55$3,196,479$2,748,906$2,626,267$3,238,532
56$3,484,971$2,846,054$2,676,699$3,461,511
57$3,801,707$2,946,779$2,727,636$3,704,376
58$4,149,529$3,051,219$2,779,061$3,969,083
59$4,531,571$3,159,519$2,830,949$4,257,782
60$4,951,283$3,271,827$2,883,278$4,572,846
61$5,412,467$3,388,299$2,936,020$4,916,883
62$5,919,310$3,509,097$2,989,148$5,292,769
63$6,476,426$3,634,390$3,042,632$5,703,667
64$7,088,899$3,764,352$3,096,437$6,153,065
65$7,762,328$3,899,167$3,150,529$6,644,802
66$8,502,883$4,039,024$3,204,870$7,183,108
67$9,317,362$4,184,121$3,259,418$7,772,641
68$10,213,255$4,334,664$3,314,130$8,418,531
69$11,198,812$4,490,868$3,368,958$9,126,433
70$12,283,126$4,652,956$3,423,853$9,902,572
71$13,476,214$4,821,160$3,478,761$10,753,807
72$14,789,113$4,995,722$3,533,626$11,687,696
73$16,233,986$5,176,896$3,588,385$12,712,562
74$17,824,231$5,364,943$3,642,975$13,837,578
75$19,574,615$5,560,137$3,697,327$15,072,847
76$21,501,405$5,762,763$3,751,367$16,429,501
77$23,622,529$5,973,119$3,805,018$17,919,805
78$25,957,739$6,191,514$3,858,198$19,557,272
79$28,528,800$6,418,270$3,910,820$21,356,790
80$31,359,696$6,653,723$3,962,790$23,334,763
81$34,476,853$6,898,224$4,014,012$25,509,264
82$37,909,392$7,152,137$4,064,381$27,900,209
83$41,689,401$7,415,842$4,113,789$30,529,540
84$45,852,238$7,689,737$4,162,119$33,421,434
85$50,436,866$7,974,233$4,209,250$36,602,532
86$55,486,218$8,269,763$4,255,051$40,102,186
87$61,047,605$8,576,774$4,299,389$43,952,742
88$67,173,161$8,895,736$4,342,118$48,189,840
89$73,920,331$9,227,135$4,383,087$52,852,751
90$81,352,422$9,571,482$4,422,138$57,984,748
91$89,539,191$9,929,306$4,459,101$63,633,516
92$98,557,508$10,301,162$4,493,801$69,851,597
93$108,492,082$10,687,626$4,526,050$76,696,890
94$119,436,255$11,089,301$4,555,654$84,233,195
95$131,492,891$11,506,814$4,582,406$92,530,815
96$144,775,338$11,940,821$4,606,090$101,667,220
97$159,408,506$12,392,005$4,626,477$111,727,777
98$175,530,039$12,861,078$4,643,329$122,806,556
99$193,291,616$13,348,784$4,656,394$135,007,218
100$212,860,387$13,855,900$4,665,409$148,443,992