Can I retire at age 53 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$204,796$202,972$201,192$199,455$197,759$192,432
2 years$101,384$99,496$97,666$95,892$94,171$88,842
3 years$66,918$65,022$63,196$61,439$59,746$54,582
4 years$49,688$47,798$45,991$44,263$42,611$37,652
5 years$39,353$37,474$35,691$33,998$32,392$27,651
6 years$32,465$30,600$28,843$27,189$25,631$21,113
7 years$27,548$25,698$23,969$22,353$20,845$16,550
8 years$23,861$22,028$20,328$18,752$17,293$13,219
9 years$20,995$19,179$17,508$15,972$14,563$10,706
10 years$18,703$16,906$15,264$13,768$12,408$8,764
11 years$16,830$15,050$13,438$11,983$10,672$7,234
12 years$15,270$13,508$11,926$10,510$9,248$6,010
13 years$13,950$12,207$10,655$9,279$8,064$5,020
14 years$12,821$11,096$9,574$8,237$7,069$4,211
15 years$11,842$10,137$8,644$7,346$6,224$3,545
16 years$10,987$9,300$7,837$6,577$5,501$2,993
17 years$10,234$8,565$7,131$5,910$4,878$2,533
18 years$9,564$7,915$6,510$5,326$4,337$2,148
19 years$8,966$7,335$5,959$4,812$3,866$1,825
20 years$8,429$6,816$5,469$4,359$3,453$1,552
21 years$7,943$6,349$5,031$3,956$3,090$1,322
22 years$7,502$5,927$4,637$3,597$2,770$1,127
23 years$7,100$5,543$4,281$3,275$2,486$962
24 years$6,732$5,193$3,959$2,987$2,235$822
25 years$6,394$4,874$3,667$2,728$2,011$702
26 years$6,082$4,581$3,401$2,495$1,811$600
27 years$5,794$4,311$3,158$2,283$1,633$513
28 years$5,527$4,062$2,936$2,092$1,474$439
29 years$5,279$3,832$2,732$1,918$1,331$376
30 years$5,048$3,619$2,545$1,761$1,202$322
31 years$4,832$3,421$2,373$1,617$1,087$276
32 years$4,631$3,237$2,214$1,486$983$236
33 years$4,441$3,066$2,067$1,367$890$202
34 years$4,264$2,905$1,931$1,257$806$173
35 years$4,096$2,756$1,805$1,157$730$149
36 years$3,939$2,616$1,689$1,066$661$127
37 years$3,790$2,484$1,581$982$599$109
38 years$3,650$2,361$1,480$905$543$94
39 years$3,517$2,245$1,387$835$493$80
40 years$3,391$2,136$1,300$770$447$69
41 years$3,271$2,033$1,219$710$405$59
42 years$3,157$1,936$1,143$656$368$51
43 years$3,049$1,845$1,073$605$334$43
44 years$2,947$1,759$1,007$559$303$37
45 years$2,849$1,677$946$516$275$32
46 years$2,755$1,600$888$477$250$27
47 years$2,666$1,527$834$440$227$23
48 years$2,581$1,457$784$407$206$20
49 years$2,499$1,392$737$376$187$17
50 years$2,421$1,330$693$348$170$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,480,000, adding $2,224 every year, while hoping to spend $54,790 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: 39/50/11 Blend
52$2,480,000$2,480,000$2,480,000$2,480,000
53$2,735,254$2,603,814$2,565,374$2,832,747
54$2,955,954$2,673,105$2,593,018$2,971,203
55$3,197,329$2,743,954$2,619,752$3,115,265
56$3,461,430$2,816,382$2,645,487$3,269,813
57$3,750,515$2,890,404$2,670,130$3,435,815
58$4,067,072$2,966,038$2,693,583$3,614,338
59$4,413,838$3,043,299$2,715,744$3,806,556
60$4,793,831$3,122,201$2,736,502$4,013,759
61$5,210,370$3,202,758$2,755,744$4,237,369
62$5,667,115$3,284,981$2,773,349$4,478,951
63$6,168,095$3,368,879$2,789,190$4,740,228
64$6,717,747$3,454,460$2,803,134$5,023,095
65$7,320,960$3,541,731$2,815,042$5,329,641
66$7,983,117$3,630,696$2,824,765$5,662,166
67$8,710,150$3,721,355$2,832,150$6,023,202
68$9,508,593$3,813,708$2,837,034$6,415,538
69$10,385,641$3,907,752$2,839,246$6,842,246
70$11,349,225$4,003,480$2,838,609$7,306,710
71$12,408,078$4,100,882$2,834,935$7,812,659
72$13,571,822$4,199,946$2,828,026$8,364,198
73$14,851,060$4,300,655$2,817,676$8,965,852
74$16,257,469$4,402,989$2,803,669$9,622,605
75$17,803,917$4,506,922$2,785,779$10,339,949
76$19,504,582$4,612,425$2,763,767$11,123,934
77$21,375,080$4,719,466$2,737,385$11,981,227
78$23,432,622$4,828,004$2,706,371$12,919,175
79$25,696,168$4,937,994$2,670,453$13,945,871
80$28,186,609$5,049,387$2,629,344$15,070,235
81$30,926,961$5,162,125$2,582,745$16,302,097
82$33,942,587$5,276,145$2,530,343$17,652,287
83$37,261,430$5,391,375$2,471,809$19,132,741
84$40,914,281$5,507,738$2,406,800$20,756,612
85$44,935,068$5,625,147$2,334,958$22,538,395
86$49,361,171$5,743,506$2,255,905$24,494,065
87$54,233,783$5,862,710$2,169,251$26,641,224
88$59,598,291$5,982,645$2,074,583$28,999,273
89$65,504,708$6,103,186$1,971,473$31,589,593
90$72,008,142$6,224,196$1,859,471$34,435,745
91$79,169,318$6,345,528$1,738,109$37,563,698
92$87,055,149$6,467,019$1,606,896$41,002,069
93$95,739,368$6,588,496$1,465,320$44,782,397
94$105,303,221$6,709,770$1,312,846$48,939,443
95$115,836,238$6,830,637$1,148,915$53,511,513
96$127,437,074$6,950,878$972,943$58,540,826
97$140,214,439$7,070,255$784,321$64,073,911
98$154,288,128$7,188,513$582,411$70,162,047
99$169,790,145$7,305,378$366,549$76,861,747
100$186,865,953$7,420,555$136,042$84,235,297