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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.2%
1 years$226,267$224,251$222,285$220,366$218,491$215,582
2 years$112,013$109,927$107,905$105,945$104,044$101,117
3 years$73,934$71,839$69,822$67,880$66,010$63,157
4 years$54,898$52,809$50,812$48,904$47,079$44,322
5 years$43,479$41,403$39,433$37,563$35,788$33,136
6 years$35,869$33,809$31,867$30,039$28,318$25,772
7 years$30,436$28,392$26,482$24,697$23,030$20,592
8 years$26,362$24,337$22,459$20,718$19,106$16,776
9 years$23,196$21,190$19,344$17,647$16,090$13,866
10 years$20,664$18,678$16,864$15,212$13,709$11,591
11 years$18,594$16,628$14,847$13,239$11,790$9,775
12 years$16,870$14,924$13,176$11,612$10,217$8,303
13 years$15,413$13,487$11,772$10,252$8,910$7,093
14 years$14,165$12,260$10,577$9,100$7,810$6,089
15 years$13,084$11,199$9,550$8,116$6,877$5,248
16 years$12,139$10,275$8,658$7,267$6,078$4,538
17 years$11,307$9,463$7,879$6,529$5,389$3,936
18 years$10,567$8,744$7,192$5,884$4,792$3,422
19 years$9,906$8,104$6,584$5,317$4,271$2,981
20 years$9,312$7,531$6,043$4,815$3,815$2,602
21 years$8,776$7,015$5,558$4,370$3,414$2,274
22 years$8,288$6,548$5,123$3,974$3,060$1,990
23 years$7,844$6,124$4,730$3,619$2,747$1,744
24 years$7,438$5,738$4,374$3,301$2,469$1,530
25 years$7,064$5,385$4,052$3,014$2,222$1,343
26 years$6,720$5,061$3,758$2,756$2,001$1,180
27 years$6,402$4,763$3,489$2,523$1,804$1,037
28 years$6,107$4,488$3,244$2,311$1,628$912
29 years$5,833$4,234$3,019$2,120$1,470$803
30 years$5,577$3,998$2,812$1,945$1,328$707
31 years$5,339$3,780$2,621$1,787$1,201$623
32 years$5,116$3,576$2,446$1,642$1,086$549
33 years$4,907$3,387$2,284$1,510$983$484
34 years$4,711$3,210$2,134$1,389$890$426
35 years$4,526$3,045$1,995$1,279$806$376
36 years$4,352$2,890$1,866$1,178$730$332
37 years$4,187$2,745$1,747$1,085$662$293
38 years$4,032$2,608$1,636$1,000$600$258
39 years$3,885$2,480$1,532$922$544$228
40 years$3,746$2,360$1,436$851$494$201
41 years$3,614$2,246$1,347$785$448$177
42 years$3,488$2,139$1,263$724$406$157
43 years$3,369$2,038$1,185$669$369$138
44 years$3,256$1,943$1,113$617$335$122
45 years$3,147$1,853$1,045$570$304$108
46 years$3,044$1,768$981$527$276$95
47 years$2,946$1,687$922$487$251$84
48 years$2,851$1,610$866$450$228$74
49 years$2,761$1,538$814$416$207$66
50 years$2,675$1,469$766$384$188$58

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 $3,572 every year, while hoping to spend $34,834 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: 52/37/11 Blend
52$2,740,000$2,740,000$2,740,000$2,740,000
53$3,023,165$2,877,945$2,835,475$3,171,486
54$3,294,464$2,981,901$2,893,400$3,376,935
55$3,592,269$3,089,783$2,952,098$3,596,222
56$3,919,246$3,201,748$3,011,559$3,833,900
57$4,278,332$3,317,956$3,071,769$4,091,712
58$4,672,763$3,438,578$3,132,715$4,371,579
59$5,106,105$3,563,788$3,194,380$4,675,608
60$5,582,284$3,693,770$3,256,749$5,006,120
61$6,105,627$3,828,715$3,319,800$5,365,666
62$6,680,901$3,968,822$3,383,513$5,757,053
63$7,313,356$4,114,298$3,447,864$6,183,366
64$8,008,779$4,265,359$3,512,828$6,648,003
65$8,773,543$4,422,229$3,578,376$7,154,701
66$9,614,670$4,585,145$3,644,478$7,707,570
67$10,539,898$4,754,349$3,711,100$8,311,137
68$11,557,753$4,930,097$3,778,206$8,970,381
69$12,677,626$5,112,654$3,845,759$9,690,784
70$13,909,867$5,302,298$3,913,715$10,478,379
71$15,265,880$5,499,316$3,982,031$11,339,807
72$16,758,227$5,704,011$4,050,656$12,282,380
73$18,400,754$5,916,695$4,119,541$13,314,146
74$20,208,714$6,137,696$4,188,629$14,443,968
75$22,198,915$6,367,355$4,257,860$15,681,604
76$24,389,877$6,606,028$4,327,171$17,037,796
77$26,802,008$6,854,086$4,396,494$18,524,376
78$29,457,793$7,111,917$4,465,757$20,154,372
79$32,382,011$7,379,924$4,534,883$21,942,130
80$35,601,964$7,658,528$4,603,789$23,903,449
81$39,147,737$7,948,169$4,672,389$26,055,732
82$43,052,482$8,249,305$4,740,590$28,418,142
83$47,352,728$8,562,414$4,808,293$31,011,788
84$52,088,730$8,887,996$4,875,395$33,859,918
85$57,304,844$9,226,571$4,941,784$36,988,140
86$63,049,948$9,578,683$5,007,343$40,424,661
87$69,377,903$9,944,899$5,071,949$44,200,552
88$76,348,060$10,325,810$5,135,471$48,350,039
89$84,025,822$10,722,035$5,197,769$52,910,823
90$92,483,259$11,134,217$5,258,698$57,924,439
91$101,799,789$11,563,032$5,318,102$63,436,639
92$112,062,927$12,009,180$5,375,817$69,497,828
93$123,369,111$12,473,395$5,431,673$76,163,534
94$135,824,613$12,956,444$5,485,486$83,494,931
95$149,546,539$13,459,125$5,537,065$91,559,415
96$164,663,938$13,982,274$5,586,209$100,431,237
97$181,319,016$14,526,762$5,632,704$110,192,203
98$199,668,482$15,093,500$5,676,326$120,932,440
99$219,885,024$15,683,438$5,716,839$132,751,248
100$242,158,940$16,297,569$5,753,996$145,758,032