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

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$234,525$232,436$230,397$228,408$226,466$223,358
2 years$116,101$113,939$111,843$109,812$107,841$104,715
3 years$76,632$74,460$72,370$70,357$68,419$65,373
4 years$56,901$54,736$52,667$50,689$48,797$45,854
5 years$45,066$42,914$40,872$38,934$37,094$34,263
6 years$37,178$35,042$33,030$31,136$29,352$26,635
7 years$31,546$29,429$27,448$25,598$23,871$21,270
8 years$27,324$25,226$23,278$21,474$19,803$17,317
9 years$24,042$21,964$20,050$18,291$16,677$14,306
10 years$21,418$19,360$17,480$15,767$14,210$11,951
11 years$19,273$17,235$15,389$13,722$12,221$10,072
12 years$17,486$15,469$13,657$12,036$10,590$8,550
13 years$15,975$13,980$12,202$10,626$9,235$7,299
14 years$14,682$12,707$10,963$9,433$8,095$6,262
15 years$13,561$11,608$9,899$8,412$7,128$5,393
16 years$12,582$10,650$8,974$7,532$6,300$4,661
17 years$11,719$9,808$8,166$6,768$5,586$4,039
18 years$10,953$9,063$7,455$6,099$4,966$3,509
19 years$10,268$8,400$6,825$5,511$4,427$3,055
20 years$9,652$7,806$6,263$4,991$3,954$2,664
21 years$9,096$7,271$5,761$4,530$3,538$2,327
22 years$8,591$6,787$5,310$4,119$3,172$2,035
23 years$8,131$6,348$4,903$3,751$2,847$1,782
24 years$7,709$5,947$4,534$3,421$2,559$1,562
25 years$7,322$5,581$4,199$3,124$2,303$1,370
26 years$6,965$5,245$3,895$2,857$2,074$1,203
27 years$6,635$4,937$3,617$2,615$1,870$1,056
28 years$6,330$4,652$3,362$2,396$1,687$929
29 years$6,046$4,388$3,129$2,197$1,524$817
30 years$5,781$4,144$2,914$2,016$1,377$718
31 years$5,534$3,918$2,717$1,852$1,245$632
32 years$5,303$3,707$2,535$1,702$1,126$557
33 years$5,086$3,511$2,367$1,565$1,019$490
34 years$4,882$3,327$2,211$1,440$923$432
35 years$4,691$3,156$2,068$1,326$836$380
36 years$4,511$2,995$1,934$1,221$757$335
37 years$4,340$2,845$1,810$1,125$686$296
38 years$4,179$2,704$1,695$1,037$622$261
39 years$4,027$2,571$1,588$956$564$230
40 years$3,883$2,446$1,489$882$512$203
41 years$3,746$2,328$1,396$813$464$179
42 years$3,616$2,217$1,309$751$421$158
43 years$3,492$2,113$1,229$693$382$139
44 years$3,374$2,014$1,153$640$347$123
45 years$3,262$1,920$1,083$591$315$108
46 years$3,155$1,832$1,017$546$286$95
47 years$3,053$1,748$956$504$260$84
48 years$2,955$1,669$898$466$236$74
49 years$2,862$1,594$844$431$214$66
50 years$2,773$1,522$794$398$195$58

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 $6,313 every year, while hoping to spend $35,295 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: 51/26/23 Blend
52$2,840,000$2,840,000$2,840,000$2,840,000
53$3,136,192$2,985,672$2,941,652$3,275,688
54$3,418,530$3,094,416$3,002,644$3,481,718
55$3,728,483$3,207,306$3,064,496$3,701,496
56$4,068,832$3,324,507$3,127,199$3,939,737
57$4,442,637$3,446,193$3,190,745$4,198,208
58$4,853,273$3,572,543$3,255,122$4,478,851
59$5,304,454$3,703,744$3,320,315$4,783,802
60$5,800,274$3,839,994$3,386,312$5,115,411
61$6,345,243$3,981,494$3,453,094$5,476,265
62$6,944,328$4,128,458$3,520,644$5,869,209
63$7,603,005$4,281,108$3,588,940$6,297,377
64$8,327,303$4,439,674$3,657,961$6,764,214
65$9,123,866$4,604,396$3,727,681$7,273,514
66$10,000,014$4,775,525$3,798,073$7,829,454
67$10,963,814$4,953,324$3,869,106$8,436,631
68$12,024,151$5,138,065$3,940,749$9,100,106
69$13,190,816$5,330,031$4,012,966$9,825,450
70$14,474,597$5,529,521$4,085,718$10,618,800
71$15,887,380$5,736,842$4,158,964$11,486,909
72$17,442,264$5,952,318$4,232,660$12,437,217
73$19,153,678$6,176,285$4,306,758$13,477,914
74$21,037,524$6,409,094$4,381,205$14,618,020
75$23,111,323$6,651,111$4,455,947$15,867,470
76$25,394,380$6,902,718$4,530,923$17,237,204
77$27,907,969$7,164,313$4,606,071$18,739,271
78$30,675,530$7,436,312$4,681,322$20,386,943
79$33,722,892$7,719,149$4,756,605$22,194,838
80$37,078,516$8,013,277$4,831,840$24,179,056
81$40,773,764$8,319,167$4,906,946$26,357,333
82$44,843,195$8,637,313$4,981,836$28,749,206
83$49,324,889$8,968,229$5,056,415$31,376,193
84$54,260,807$9,312,453$5,130,585$34,262,003
85$59,697,190$9,670,543$5,204,240$37,432,750
86$65,684,990$10,043,086$5,277,269$40,917,204
87$72,280,354$10,430,693$5,349,552$44,747,060
88$79,545,154$10,834,000$5,420,966$48,957,234
89$87,547,567$11,253,674$5,491,376$53,586,195
90$96,362,724$11,690,409$5,560,642$58,676,324
91$106,073,414$12,144,931$5,628,616$64,274,312
92$116,770,868$12,617,998$5,695,140$70,431,602
93$128,555,618$13,110,402$5,760,048$77,204,873
94$141,538,447$13,622,968$5,823,166$84,656,571
95$155,841,435$14,156,559$5,884,309$92,855,498
96$171,599,108$14,712,078$5,943,280$101,877,462
97$188,959,713$15,290,465$5,999,875$111,805,986
98$208,086,610$15,892,705$6,053,878$122,733,102
99$229,159,821$16,519,823$6,105,059$134,760,209
100$252,377,722$17,172,895$6,153,179$147,999,038