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%19.6%
1 years$234,525$232,436$230,397$228,408$226,466$217,738
2 years$116,101$113,939$111,843$109,812$107,841$99,152
3 years$76,632$74,460$72,370$70,357$68,419$60,042
4 years$56,901$54,736$52,667$50,689$48,797$40,796
5 years$45,066$42,914$40,872$38,934$37,094$29,491
6 years$37,178$35,042$33,030$31,136$29,352$22,149
7 years$31,546$29,429$27,448$25,598$23,871$17,068
8 years$27,324$25,226$23,278$21,474$19,803$13,393
9 years$24,042$21,964$20,050$18,291$16,677$10,650
10 years$21,418$19,360$17,480$15,767$14,210$8,555
11 years$19,273$17,235$15,389$13,722$12,221$6,926
12 years$17,486$15,469$13,657$12,036$10,590$5,641
13 years$15,975$13,980$12,202$10,626$9,235$4,616
14 years$14,682$12,707$10,963$9,433$8,095$3,793
15 years$13,561$11,608$9,899$8,412$7,128$3,125
16 years$12,582$10,650$8,974$7,532$6,300$2,582
17 years$11,719$9,808$8,166$6,768$5,586$2,138
18 years$10,953$9,063$7,455$6,099$4,966$1,773
19 years$10,268$8,400$6,825$5,511$4,427$1,472
20 years$9,652$7,806$6,263$4,991$3,954$1,224
21 years$9,096$7,271$5,761$4,530$3,538$1,019
22 years$8,591$6,787$5,310$4,119$3,172$849
23 years$8,131$6,348$4,903$3,751$2,847$707
24 years$7,709$5,947$4,534$3,421$2,559$590
25 years$7,322$5,581$4,199$3,124$2,303$492
26 years$6,965$5,245$3,895$2,857$2,074$411
27 years$6,635$4,937$3,617$2,615$1,870$343
28 years$6,330$4,652$3,362$2,396$1,687$286
29 years$6,046$4,388$3,129$2,197$1,524$239
30 years$5,781$4,144$2,914$2,016$1,377$200
31 years$5,534$3,918$2,717$1,852$1,245$167
32 years$5,303$3,707$2,535$1,702$1,126$139
33 years$5,086$3,511$2,367$1,565$1,019$116
34 years$4,882$3,327$2,211$1,440$923$97
35 years$4,691$3,156$2,068$1,326$836$81
36 years$4,511$2,995$1,934$1,221$757$68
37 years$4,340$2,845$1,810$1,125$686$57
38 years$4,179$2,704$1,695$1,037$622$48
39 years$4,027$2,571$1,588$956$564$40
40 years$3,883$2,446$1,489$882$512$33
41 years$3,746$2,328$1,396$813$464$28
42 years$3,616$2,217$1,309$751$421$23
43 years$3,492$2,113$1,229$693$382$19
44 years$3,374$2,014$1,153$640$347$16
45 years$3,262$1,920$1,083$591$315$14
46 years$3,155$1,832$1,017$546$286$11
47 years$3,053$1,748$956$504$260$9
48 years$2,955$1,669$898$466$236$8
49 years$2,862$1,594$844$431$214$7
50 years$2,773$1,522$794$398$195$6

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 $5,307 every year, while hoping to spend $52,284 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: 62/23/15 Blend
52$2,840,000$2,840,000$2,840,000$2,840,000
53$3,135,154$2,984,634$2,940,614$3,317,599
54$3,399,310$3,075,251$2,983,495$3,531,451
55$3,688,658$3,168,557$3,026,060$3,758,395
56$4,005,711$3,264,626$3,068,243$4,004,881
57$4,353,239$3,363,539$3,109,975$4,272,808
58$4,734,293$3,465,375$3,151,182$4,564,270
59$5,152,229$3,570,217$3,191,786$4,881,569
60$5,610,749$3,678,150$3,231,703$5,227,240
61$6,113,928$3,789,262$3,270,847$5,604,075
62$6,666,253$3,903,640$3,309,125$6,015,150
63$7,272,670$4,021,377$3,346,440$6,463,847
64$7,938,624$4,142,567$3,382,688$6,953,897
65$8,670,117$4,267,306$3,417,761$7,489,405
66$9,473,757$4,395,692$3,451,544$8,074,893
67$10,356,825$4,527,826$3,483,916$8,715,342
68$11,327,345$4,663,813$3,514,750$9,416,237
69$12,394,152$4,803,758$3,543,912$10,183,623
70$13,566,983$4,947,769$3,571,261$11,024,156
71$14,856,564$5,095,960$3,596,647$11,945,168
72$16,274,714$5,248,442$3,619,916$12,954,737
73$17,834,453$5,405,334$3,640,901$14,061,763
74$19,550,127$5,566,754$3,659,430$15,276,050
75$21,437,541$5,732,826$3,675,322$16,608,397
76$23,514,109$5,903,674$3,688,385$18,070,705
77$25,799,022$6,079,427$3,698,419$19,676,084
78$28,313,419$6,260,216$3,705,213$21,438,977
79$31,080,595$6,446,175$3,708,545$23,375,299
80$34,126,219$6,637,440$3,708,185$25,502,584
81$37,478,572$6,834,153$3,703,887$27,840,152
82$41,168,816$7,036,456$3,695,397$30,409,290
83$45,231,289$7,244,497$3,682,447$33,233,453
84$49,703,827$7,458,423$3,664,755$36,338,484
85$54,628,120$7,678,389$3,642,028$39,752,859
86$60,050,109$7,904,550$3,613,956$43,507,957
87$66,020,412$8,137,066$3,580,216$47,638,352
88$72,594,810$8,376,098$3,540,469$52,182,141
89$79,834,767$8,621,813$3,494,361$57,181,305
90$87,808,011$8,874,379$3,441,519$62,682,102
91$96,589,173$9,133,970$3,381,556$68,735,504
92$106,260,494$9,400,759$3,314,063$75,397,682
93$116,912,595$9,674,927$3,238,615$82,730,528
94$128,645,337$9,956,656$3,154,765$90,802,248
95$141,568,760$10,246,130$3,062,048$99,687,997
96$155,804,122$10,543,539$2,959,975$109,470,595
97$171,485,044$10,849,074$2,848,036$120,241,304
98$188,758,771$11,162,931$2,725,698$132,100,693
99$207,787,559$11,485,308$2,592,402$145,159,583
100$228,750,208$11,816,406$2,447,566$159,540,097