Can I retire at age 53 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$234,525$232,436$230,397$228,408$226,466$224,850
2 years$116,101$113,939$111,843$109,812$107,841$106,212
3 years$76,632$74,460$72,370$70,357$68,419$66,826
4 years$56,901$54,736$52,667$50,689$48,797$47,254
5 years$45,066$42,914$40,872$38,934$37,094$35,605
6 years$37,178$35,042$33,030$31,136$29,352$27,918
7 years$31,546$29,429$27,448$25,598$23,871$22,493
8 years$27,324$25,226$23,278$21,474$19,803$18,482
9 years$24,042$21,964$20,050$18,291$16,677$15,412
10 years$21,418$19,360$17,480$15,767$14,210$13,000
11 years$19,273$17,235$15,389$13,722$12,221$11,066
12 years$17,486$15,469$13,657$12,036$10,590$9,488
13 years$15,975$13,980$12,202$10,626$9,235$8,185
14 years$14,682$12,707$10,963$9,433$8,095$7,097
15 years$13,561$11,608$9,899$8,412$7,128$6,179
16 years$12,582$10,650$8,974$7,532$6,300$5,399
17 years$11,719$9,808$8,166$6,768$5,586$4,732
18 years$10,953$9,063$7,455$6,099$4,966$4,158
19 years$10,268$8,400$6,825$5,511$4,427$3,662
20 years$9,652$7,806$6,263$4,991$3,954$3,231
21 years$9,096$7,271$5,761$4,530$3,538$2,856
22 years$8,591$6,787$5,310$4,119$3,172$2,528
23 years$8,131$6,348$4,903$3,751$2,847$2,241
24 years$7,709$5,947$4,534$3,421$2,559$1,988
25 years$7,322$5,581$4,199$3,124$2,303$1,766
26 years$6,965$5,245$3,895$2,857$2,074$1,570
27 years$6,635$4,937$3,617$2,615$1,870$1,397
28 years$6,330$4,652$3,362$2,396$1,687$1,244
29 years$6,046$4,388$3,129$2,197$1,524$1,108
30 years$5,781$4,144$2,914$2,016$1,377$987
31 years$5,534$3,918$2,717$1,852$1,245$880
32 years$5,303$3,707$2,535$1,702$1,126$786
33 years$5,086$3,511$2,367$1,565$1,019$701
34 years$4,882$3,327$2,211$1,440$923$626
35 years$4,691$3,156$2,068$1,326$836$559
36 years$4,511$2,995$1,934$1,221$757$499
37 years$4,340$2,845$1,810$1,125$686$446
38 years$4,179$2,704$1,695$1,037$622$399
39 years$4,027$2,571$1,588$956$564$356
40 years$3,883$2,446$1,489$882$512$319
41 years$3,746$2,328$1,396$813$464$285
42 years$3,616$2,217$1,309$751$421$255
43 years$3,492$2,113$1,229$693$382$228
44 years$3,374$2,014$1,153$640$347$204
45 years$3,262$1,920$1,083$591$315$182
46 years$3,155$1,832$1,017$546$286$163
47 years$3,053$1,748$956$504$260$146
48 years$2,955$1,669$898$466$236$131
49 years$2,862$1,594$844$431$214$117
50 years$2,773$1,522$794$398$195$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,840,000, adding $3,733 every year, while hoping to spend $45,615 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: 62/26/12 Blend
52$2,840,000$2,840,000$2,840,000$2,840,000
53$3,133,531$2,983,011$2,938,991$3,318,725
54$3,404,617$3,080,644$2,988,913$3,540,953
55$3,701,825$3,181,533$3,038,979$3,777,865
56$4,027,771$3,285,788$3,089,144$4,035,347
57$4,385,337$3,393,525$3,139,364$4,315,393
58$4,777,697$3,504,864$3,189,589$4,620,199
59$5,208,347$3,619,927$3,239,765$4,952,180
60$5,681,138$3,738,843$3,289,837$5,313,995
61$6,200,313$3,861,744$3,339,744$5,708,573
62$6,770,543$3,988,768$3,389,424$6,139,135
63$7,396,978$4,120,057$3,438,809$6,609,230
64$8,085,288$4,255,758$3,487,828$7,122,763
65$8,841,721$4,396,024$3,536,403$7,684,035
66$9,673,159$4,541,012$3,584,456$8,297,783
67$10,587,187$4,690,887$3,631,900$8,969,221
68$11,592,156$4,845,817$3,678,646$9,704,093
69$12,697,273$5,005,979$3,724,597$10,508,723
70$13,912,678$5,171,555$3,769,654$11,390,078
71$15,249,542$5,342,732$3,813,709$12,355,828
72$16,720,177$5,519,707$3,856,649$13,414,426
73$18,338,144$5,702,682$3,898,356$14,575,176
74$20,118,388$5,891,867$3,938,704$15,848,333
75$22,077,374$6,087,479$3,977,562$17,245,189
76$24,233,245$6,289,744$4,014,788$18,778,183
77$26,605,990$6,498,895$4,050,237$20,461,019
78$29,217,634$6,715,175$4,083,754$22,308,794
79$32,092,448$6,938,834$4,115,175$24,338,137
80$35,257,174$7,170,133$4,144,329$26,567,369
81$38,741,277$7,409,341$4,171,036$29,016,676
82$42,577,227$7,656,738$4,195,105$31,708,293
83$46,800,801$7,912,614$4,216,338$34,666,720
84$51,451,420$8,177,271$4,234,523$37,918,948
85$56,572,527$8,451,019$4,249,442$41,494,715
86$62,211,988$8,734,182$4,260,861$45,426,787
87$68,422,550$9,027,096$4,268,539$49,751,262
88$75,262,334$9,330,108$4,272,219$54,507,917
89$82,795,388$9,643,579$4,271,634$59,740,575
90$91,092,287$9,967,883$4,266,503$65,497,525
91$100,230,800$10,303,410$4,256,531$71,831,971
92$110,296,625$10,650,560$4,241,408$78,802,537
93$121,384,196$11,009,753$4,220,811$86,473,818
94$133,597,575$11,381,422$4,194,399$94,916,990
95$147,051,433$11,766,017$4,161,816$104,210,480
96$161,872,131$12,164,004$4,122,690$114,440,705
97$178,198,917$12,575,868$4,076,628$125,702,888
98$196,185,233$13,002,113$4,023,222$138,101,953
99$216,000,170$13,443,259$3,962,042$151,753,519
100$237,830,057$13,899,848$3,892,641$166,784,989