Can I retire at age 53 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$226,267$224,251$222,285$220,366$218,491$212,950
2 years$112,013$109,927$107,905$105,945$104,044$98,497
3 years$73,934$71,839$69,822$67,880$66,010$60,631
4 years$54,898$52,809$50,812$48,904$47,079$41,909
5 years$43,479$41,403$39,433$37,563$35,788$30,843
6 years$35,869$33,809$31,867$30,039$28,318$23,601
7 years$30,436$28,392$26,482$24,697$23,030$18,542
8 years$26,362$24,337$22,459$20,718$19,106$14,845
9 years$23,196$21,190$19,344$17,647$16,090$12,052
10 years$20,664$18,678$16,864$15,212$13,709$9,890
11 years$18,594$16,628$14,847$13,239$11,790$8,184
12 years$16,870$14,924$13,176$11,612$10,217$6,818
13 years$15,413$13,487$11,772$10,252$8,910$5,710
14 years$14,165$12,260$10,577$9,100$7,810$4,803
15 years$13,084$11,199$9,550$8,116$6,877$4,055
16 years$12,139$10,275$8,658$7,267$6,078$3,433
17 years$11,307$9,463$7,879$6,529$5,389$2,914
18 years$10,567$8,744$7,192$5,884$4,792$2,479
19 years$9,906$8,104$6,584$5,317$4,271$2,112
20 years$9,312$7,531$6,043$4,815$3,815$1,802
21 years$8,776$7,015$5,558$4,370$3,414$1,540
22 years$8,288$6,548$5,123$3,974$3,060$1,317
23 years$7,844$6,124$4,730$3,619$2,747$1,127
24 years$7,438$5,738$4,374$3,301$2,469$966
25 years$7,064$5,385$4,052$3,014$2,222$828
26 years$6,720$5,061$3,758$2,756$2,001$710
27 years$6,402$4,763$3,489$2,523$1,804$609
28 years$6,107$4,488$3,244$2,311$1,628$523
29 years$5,833$4,234$3,019$2,120$1,470$449
30 years$5,577$3,998$2,812$1,945$1,328$386
31 years$5,339$3,780$2,621$1,787$1,201$332
32 years$5,116$3,576$2,446$1,642$1,086$285
33 years$4,907$3,387$2,284$1,510$983$245
34 years$4,711$3,210$2,134$1,389$890$211
35 years$4,526$3,045$1,995$1,279$806$181
36 years$4,352$2,890$1,866$1,178$730$156
37 years$4,187$2,745$1,747$1,085$662$134
38 years$4,032$2,608$1,636$1,000$600$115
39 years$3,885$2,480$1,532$922$544$99
40 years$3,746$2,360$1,436$851$494$85
41 years$3,614$2,246$1,347$785$448$73
42 years$3,488$2,139$1,263$724$406$63
43 years$3,369$2,038$1,185$669$369$54
44 years$3,256$1,943$1,113$617$335$47
45 years$3,147$1,853$1,045$570$304$40
46 years$3,044$1,768$981$527$276$35
47 years$2,946$1,687$922$487$251$30
48 years$2,851$1,610$866$450$228$26
49 years$2,761$1,538$814$416$207$22
50 years$2,675$1,469$766$384$188$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,740,000, adding $2,484 every year, while hoping to spend $51,704 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: 52/25/23 Blend
52$2,740,000$2,740,000$2,740,000$2,740,000
53$3,022,042$2,876,822$2,834,352$3,159,750
54$3,275,278$2,962,774$2,874,290$3,341,102
55$3,552,611$3,051,204$2,913,834$3,532,741
56$3,856,444$3,142,180$2,952,914$3,740,128
57$4,189,424$3,235,770$2,991,460$3,964,781
58$4,554,467$3,332,044$3,029,395$4,208,369
59$4,954,782$3,431,074$3,066,639$4,472,732
60$5,393,906$3,532,933$3,103,108$4,759,896
61$5,875,733$3,637,695$3,138,710$5,072,092
62$6,404,553$3,745,437$3,173,353$5,411,774
63$6,985,092$3,856,239$3,206,935$5,781,649
64$7,622,556$3,970,178$3,239,351$6,184,694
65$8,322,677$4,087,338$3,270,490$6,624,191
66$9,091,773$4,207,801$3,300,235$7,103,754
67$9,936,803$4,331,652$3,328,462$7,627,363
68$10,865,433$4,458,979$3,355,041$8,199,404
69$11,886,108$4,589,869$3,379,835$8,824,707
70$13,008,132$4,724,414$3,402,701$9,508,592
71$14,241,757$4,862,705$3,423,486$10,256,924
72$15,598,275$5,004,837$3,442,032$11,076,160
73$17,090,129$5,150,904$3,458,171$11,973,416
74$18,731,029$5,301,005$3,471,726$12,956,531
75$20,536,079$5,455,239$3,482,513$14,034,144
76$22,521,919$5,613,706$3,490,338$15,215,771
77$24,706,887$5,776,510$3,494,997$16,511,898
78$27,111,186$5,943,755$3,496,275$17,934,079
79$29,757,075$6,115,547$3,493,948$19,495,045
80$32,669,081$6,291,994$3,487,781$21,208,823
81$35,874,232$6,473,206$3,477,526$23,090,871
82$39,402,304$6,659,293$3,462,923$25,158,220
83$43,286,110$6,850,370$3,443,702$27,429,638
84$47,561,804$7,046,549$3,419,577$29,925,806
85$52,269,225$7,247,947$3,390,250$32,669,513
86$57,452,271$7,454,681$3,355,408$35,685,871
87$63,159,313$7,666,870$3,314,724$39,002,551
88$69,443,650$7,884,635$3,267,855$42,650,047
89$76,364,016$8,108,095$3,214,442$46,661,962
90$83,985,128$8,337,374$3,154,108$51,075,325
91$92,378,300$8,572,595$3,086,460$55,930,942
92$101,622,117$8,813,883$3,011,087$61,273,779
93$111,803,173$9,061,362$2,927,558$67,153,388
94$123,016,887$9,315,159$2,835,421$73,624,376
95$135,368,408$9,575,401$2,734,207$80,746,918
96$148,973,605$9,842,215$2,623,422$88,587,329
97$163,960,156$10,115,727$2,502,550$97,218,684
98$180,468,760$10,396,065$2,371,053$106,721,516
99$198,654,458$10,683,357$2,228,369$117,184,569
100$218,688,102$10,977,730$2,073,907$128,705,642