Can I retire at age 53 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$203,970$202,153$200,381$198,651$196,961$191,270
2 years$100,975$99,095$97,272$95,505$93,791$88,102
3 years$66,648$64,760$62,942$61,191$59,505$53,997
4 years$49,488$47,605$45,805$44,085$42,439$37,154
5 years$39,195$37,323$35,547$33,861$32,262$27,214
6 years$32,335$30,477$28,727$27,079$25,528$20,722
7 years$27,436$25,595$23,872$22,263$20,761$16,198
8 years$23,765$21,939$20,246$18,676$17,223$12,899
9 years$20,910$19,102$17,438$15,908$14,504$10,416
10 years$18,628$16,838$15,202$13,713$12,358$8,500
11 years$16,762$14,989$13,384$11,934$10,629$6,993
12 years$15,208$13,454$11,878$10,468$9,211$5,791
13 years$13,894$12,158$10,612$9,242$8,032$4,821
14 years$12,769$11,052$9,535$8,204$7,041$4,030
15 years$11,795$10,096$8,609$7,316$6,199$3,381
16 years$10,943$9,263$7,805$6,551$5,479$2,844
17 years$10,192$8,531$7,102$5,886$4,858$2,398
18 years$9,526$7,883$6,484$5,304$4,319$2,026
19 years$8,930$7,306$5,935$4,793$3,850$1,715
20 years$8,395$6,789$5,447$4,341$3,439$1,453
21 years$7,911$6,323$5,010$3,940$3,077$1,233
22 years$7,472$5,903$4,618$3,582$2,758$1,047
23 years$7,071$5,521$4,264$3,262$2,476$890
24 years$6,705$5,172$3,943$2,975$2,226$757
25 years$6,368$4,854$3,652$2,717$2,003$644
26 years$6,058$4,562$3,387$2,485$1,804$549
27 years$5,771$4,293$3,145$2,274$1,626$467
28 years$5,505$4,046$2,924$2,084$1,468$398
29 years$5,258$3,817$2,721$1,911$1,325$340
30 years$5,028$3,604$2,535$1,754$1,197$290
31 years$4,813$3,407$2,363$1,611$1,083$247
32 years$4,612$3,224$2,205$1,480$979$211
33 years$4,423$3,053$2,058$1,361$886$180
34 years$4,246$2,894$1,923$1,252$802$153
35 years$4,080$2,745$1,798$1,153$727$131
36 years$3,923$2,605$1,682$1,062$658$112
37 years$3,775$2,474$1,574$978$597$95
38 years$3,635$2,351$1,474$902$541$81
39 years$3,502$2,236$1,381$831$491$69
40 years$3,377$2,127$1,295$767$445$59
41 years$3,258$2,025$1,214$707$404$51
42 years$3,145$1,929$1,139$653$366$43
43 years$3,037$1,838$1,069$603$332$37
44 years$2,935$1,752$1,003$557$302$32
45 years$2,837$1,670$942$514$274$27
46 years$2,744$1,593$885$475$249$23
47 years$2,655$1,521$831$439$226$20
48 years$2,570$1,452$781$405$205$17
49 years$2,489$1,386$734$375$186$14
50 years$2,412$1,324$690$346$169$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,470,000, adding $2,329 every year, while hoping to spend $20,127 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: 40/32/28 Blend
52$2,470,000$2,470,000$2,470,000$2,470,000
53$2,724,342$2,593,432$2,555,147$2,810,704
54$2,980,810$2,699,096$2,619,330$2,979,366
55$3,262,763$2,809,262$2,684,988$3,159,676
56$3,572,780$2,924,130$2,752,150$3,354,371
57$3,913,700$3,043,909$2,820,843$3,564,782
58$4,288,654$3,168,818$2,891,098$3,792,370
59$4,701,090$3,299,083$2,962,943$4,038,740
60$5,154,806$3,434,943$3,036,407$4,305,654
61$5,653,989$3,576,648$3,111,519$4,595,051
62$6,203,251$3,724,458$3,188,309$4,909,059
63$6,807,672$3,878,646$3,266,808$5,250,019
64$7,472,853$4,039,498$3,347,044$5,620,503
65$8,204,962$4,207,312$3,429,048$6,023,339
66$9,010,798$4,382,399$3,512,851$6,461,639
67$9,897,850$4,565,088$3,598,482$6,938,820
68$10,874,372$4,755,718$3,685,972$7,458,647
69$11,949,458$4,954,648$3,775,352$8,025,255
70$13,133,128$5,162,252$3,866,652$8,643,196
71$14,436,425$5,378,920$3,959,903$9,317,478
72$15,871,515$5,605,062$4,055,135$10,053,611
73$17,451,805$5,841,106$4,152,378$10,857,656
74$19,192,070$6,087,500$4,251,662$11,736,285
75$21,108,586$6,344,713$4,353,018$12,696,840
76$23,219,294$6,613,236$4,456,476$13,747,401
77$25,543,959$6,893,581$4,562,065$14,896,863
78$28,104,363$7,186,287$4,669,815$16,155,016
79$30,924,509$7,491,916$4,779,754$17,532,638
80$34,030,844$7,811,056$4,891,912$19,041,592
81$37,452,515$8,144,322$5,006,316$20,694,941
82$41,221,638$8,492,360$5,122,994$22,507,067
83$45,373,604$8,855,845$5,241,973$24,493,804
84$49,947,413$9,235,482$5,363,280$26,672,588
85$54,986,039$9,632,011$5,486,940$29,062,619
86$60,536,841$10,046,205$5,612,978$31,685,038
87$66,652,005$10,478,875$5,741,419$34,563,129
88$73,389,038$10,930,869$5,872,285$37,722,533
89$80,811,312$11,403,074$6,005,599$41,191,487
90$88,988,661$11,896,420$6,141,382$45,001,093
91$97,998,040$12,411,880$6,279,653$49,185,605
92$107,924,250$12,950,471$6,420,432$53,782,751
93$118,860,741$13,513,262$6,563,734$58,834,087
94$130,910,493$14,101,369$6,709,575$64,385,386
95$144,186,987$14,715,960$6,857,970$70,487,067
96$158,815,278$15,358,260$7,008,930$77,194,668
97$174,933,173$16,029,552$7,162,466$84,569,369
98$192,692,534$16,731,177$7,318,586$92,678,563
99$212,260,709$17,464,541$7,477,295$101,596,491
100$233,822,114$18,231,116$7,638,597$111,404,940