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%18%
1 years$203,970$202,153$200,381$198,651$196,961$190,580
2 years$100,975$99,095$97,272$95,505$93,791$87,422
3 years$66,648$64,760$62,942$61,191$59,505$53,348
4 years$49,488$47,605$45,805$44,085$42,439$36,542
5 years$39,195$37,323$35,547$33,861$32,262$26,639
6 years$32,335$30,477$28,727$27,079$25,528$20,184
7 years$27,436$25,595$23,872$22,263$20,761$15,697
8 years$23,765$21,939$20,246$18,676$17,223$12,434
9 years$20,910$19,102$17,438$15,908$14,504$9,985
10 years$18,628$16,838$15,202$13,713$12,358$8,102
11 years$16,762$14,989$13,384$11,934$10,629$6,628
12 years$15,208$13,454$11,878$10,468$9,211$5,456
13 years$13,894$12,158$10,612$9,242$8,032$4,514
14 years$12,769$11,052$9,535$8,204$7,041$3,750
15 years$11,795$10,096$8,609$7,316$6,199$3,126
16 years$10,943$9,263$7,805$6,551$5,479$2,613
17 years$10,192$8,531$7,102$5,886$4,858$2,189
18 years$9,526$7,883$6,484$5,304$4,319$1,837
19 years$8,930$7,306$5,935$4,793$3,850$1,544
20 years$8,395$6,789$5,447$4,341$3,439$1,300
21 years$7,911$6,323$5,010$3,940$3,077$1,095
22 years$7,472$5,903$4,618$3,582$2,758$924
23 years$7,071$5,521$4,264$3,262$2,476$780
24 years$6,705$5,172$3,943$2,975$2,226$658
25 years$6,368$4,854$3,652$2,717$2,003$556
26 years$6,058$4,562$3,387$2,485$1,804$470
27 years$5,771$4,293$3,145$2,274$1,626$398
28 years$5,505$4,046$2,924$2,084$1,468$336
29 years$5,258$3,817$2,721$1,911$1,325$285
30 years$5,028$3,604$2,535$1,754$1,197$241
31 years$4,813$3,407$2,363$1,611$1,083$204
32 years$4,612$3,224$2,205$1,480$979$173
33 years$4,423$3,053$2,058$1,361$886$146
34 years$4,246$2,894$1,923$1,252$802$124
35 years$4,080$2,745$1,798$1,153$727$105
36 years$3,923$2,605$1,682$1,062$658$89
37 years$3,775$2,474$1,574$978$597$75
38 years$3,635$2,351$1,474$902$541$64
39 years$3,502$2,236$1,381$831$491$54
40 years$3,377$2,127$1,295$767$445$46
41 years$3,258$2,025$1,214$707$404$39
42 years$3,145$1,929$1,139$653$366$33
43 years$3,037$1,838$1,069$603$332$28
44 years$2,935$1,752$1,003$557$302$24
45 years$2,837$1,670$942$514$274$20
46 years$2,744$1,593$885$475$249$17
47 years$2,655$1,521$831$439$226$14
48 years$2,570$1,452$781$405$205$12
49 years$2,489$1,386$734$375$186$10
50 years$2,412$1,324$690$346$169$9

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 $4,092 every year, while hoping to spend $56,139 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: 31/50/19 Blend
52$2,470,000$2,470,000$2,470,000$2,470,000
53$2,726,161$2,595,251$2,556,966$2,794,355
54$2,944,498$2,662,687$2,582,893$2,913,401
55$3,183,224$2,731,545$2,607,807$3,036,080
56$3,444,359$2,801,837$2,631,614$3,166,954
57$3,730,127$2,873,572$2,654,218$3,306,766
58$4,042,980$2,946,756$2,675,513$3,456,339
59$4,385,613$3,021,396$2,695,392$3,616,574
60$4,760,997$3,097,496$2,713,740$3,788,468
61$5,172,405$3,175,059$2,730,436$3,973,115
62$5,623,438$3,254,085$2,745,353$4,171,721
63$6,118,065$3,334,572$2,758,359$4,385,616
64$6,660,657$3,416,515$2,769,313$4,616,262
65$7,256,027$3,499,908$2,778,069$4,865,271
66$7,909,479$3,584,740$2,784,471$5,134,420
67$8,626,853$3,671,000$2,788,358$5,425,667
68$9,414,583$3,758,670$2,789,559$5,741,166
69$10,279,758$3,847,731$2,787,896$6,083,294
70$11,230,183$3,938,161$2,783,181$6,454,670
71$12,274,462$4,029,931$2,775,218$6,858,180
72$13,422,070$4,123,010$2,763,800$7,297,002
73$14,683,445$4,217,361$2,748,711$7,774,643
74$16,070,088$4,312,944$2,729,725$8,294,965
75$17,594,671$4,409,712$2,706,605$8,862,227
76$19,271,152$4,507,613$2,679,101$9,481,120
77$21,114,912$4,606,588$2,646,953$10,156,818
78$23,142,896$4,706,574$2,609,889$10,895,021
79$25,373,773$4,807,497$2,567,622$11,702,016
80$27,828,114$4,909,281$2,519,853$12,584,729
81$30,528,584$5,011,838$2,466,270$13,550,796
82$33,500,155$5,115,073$2,406,546$14,608,635
83$36,770,342$5,218,883$2,340,336$15,767,523
84$40,369,463$5,323,155$2,267,284$17,037,689
85$44,330,923$5,427,765$2,187,013$18,430,407
86$48,691,532$5,532,580$2,099,133$19,958,104
87$53,491,846$5,637,454$2,003,232$21,634,480
88$58,776,557$5,742,232$1,898,882$23,474,636
89$64,594,907$5,846,742$1,785,636$25,495,216
90$71,001,158$5,950,803$1,663,025$27,714,571
91$78,055,100$6,054,216$1,530,560$30,152,926
92$85,822,617$6,156,769$1,387,730$32,832,578
93$94,376,305$6,258,233$1,234,001$35,778,102
94$103,796,164$6,358,361$1,068,816$39,016,589
95$114,170,342$6,456,891$891,590$42,577,900
96$125,595,976$6,553,537$701,718$46,494,951
97$138,180,103$6,647,998$498,563$50,804,025
98$152,040,670$6,739,947$281,462$55,545,115
99$167,307,651$6,829,037$49,723$60,762,303
100$184,124,268$6,914,896$0$66,504,182