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%18.7%
1 years$234,525$232,436$230,397$228,408$226,466$218,517
2 years$116,101$113,939$111,843$109,812$107,841$99,916
3 years$76,632$74,460$72,370$70,357$68,419$60,767
4 years$56,901$54,736$52,667$50,689$48,797$41,477
5 years$45,066$42,914$40,872$38,934$37,094$30,125
6 years$37,178$35,042$33,030$31,136$29,352$22,738
7 years$31,546$29,429$27,448$25,598$23,871$17,612
8 years$27,324$25,226$23,278$21,474$19,803$13,894
9 years$24,042$21,964$20,050$18,291$16,677$11,110
10 years$21,418$19,360$17,480$15,767$14,210$8,975
11 years$19,273$17,235$15,389$13,722$12,221$7,309
12 years$17,486$15,469$13,657$12,036$10,590$5,988
13 years$15,975$13,980$12,202$10,626$9,235$4,931
14 years$14,682$12,707$10,963$9,433$8,095$4,077
15 years$13,561$11,608$9,899$8,412$7,128$3,381
16 years$12,582$10,650$8,974$7,532$6,300$2,812
17 years$11,719$9,808$8,166$6,768$5,586$2,344
18 years$10,953$9,063$7,455$6,099$4,966$1,957
19 years$10,268$8,400$6,825$5,511$4,427$1,636
20 years$9,652$7,806$6,263$4,991$3,954$1,370
21 years$9,096$7,271$5,761$4,530$3,538$1,148
22 years$8,591$6,787$5,310$4,119$3,172$963
23 years$8,131$6,348$4,903$3,751$2,847$808
24 years$7,709$5,947$4,534$3,421$2,559$679
25 years$7,322$5,581$4,199$3,124$2,303$570
26 years$6,965$5,245$3,895$2,857$2,074$479
27 years$6,635$4,937$3,617$2,615$1,870$403
28 years$6,330$4,652$3,362$2,396$1,687$339
29 years$6,046$4,388$3,129$2,197$1,524$285
30 years$5,781$4,144$2,914$2,016$1,377$240
31 years$5,534$3,918$2,717$1,852$1,245$202
32 years$5,303$3,707$2,535$1,702$1,126$170
33 years$5,086$3,511$2,367$1,565$1,019$143
34 years$4,882$3,327$2,211$1,440$923$121
35 years$4,691$3,156$2,068$1,326$836$102
36 years$4,511$2,995$1,934$1,221$757$86
37 years$4,340$2,845$1,810$1,125$686$72
38 years$4,179$2,704$1,695$1,037$622$61
39 years$4,027$2,571$1,588$956$564$51
40 years$3,883$2,446$1,489$882$512$43
41 years$3,746$2,328$1,396$813$464$36
42 years$3,616$2,217$1,309$751$421$31
43 years$3,492$2,113$1,229$693$382$26
44 years$3,374$2,014$1,153$640$347$22
45 years$3,262$1,920$1,083$591$315$18
46 years$3,155$1,832$1,017$546$286$15
47 years$3,053$1,748$956$504$260$13
48 years$2,955$1,669$898$466$236$11
49 years$2,862$1,594$844$431$214$9
50 years$2,773$1,522$794$398$195$8

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 $4,563 every year, while hoping to spend $44,353 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: 67/10/23 Blend
52$2,840,000$2,840,000$2,840,000$2,840,000
53$3,134,387$2,983,867$2,939,847$3,325,686
54$3,406,903$3,082,885$2,991,140$3,553,676
55$3,705,729$3,185,269$3,042,666$3,797,420
56$4,033,503$3,291,136$3,094,384$4,062,951
57$4,393,127$3,400,608$3,146,253$4,352,418
58$4,787,802$3,513,814$3,198,228$4,668,184
59$5,221,050$3,630,884$3,250,262$5,012,854
60$5,696,755$3,751,954$3,302,303$5,389,297
61$6,219,190$3,877,166$3,354,296$5,800,671
62$6,793,067$4,006,667$3,406,185$6,250,455
63$7,423,574$4,140,608$3,457,906$6,742,483
64$8,116,428$4,279,147$3,509,395$7,280,976
65$8,877,926$4,422,447$3,560,582$7,870,583
66$9,715,005$4,570,679$3,611,393$8,516,430
67$10,635,310$4,724,016$3,661,749$9,224,157
68$11,647,262$4,882,643$3,711,568$9,999,984
69$12,760,138$5,046,748$3,760,760$10,850,758
70$13,984,160$5,216,526$3,809,234$11,784,026
71$15,330,590$5,392,182$3,856,889$12,808,102
72$16,811,838$5,573,927$3,903,623$13,932,144
73$18,441,576$5,761,979$3,949,324$15,166,245
74$20,234,866$5,956,566$3,993,877$16,521,522
75$22,208,309$6,157,924$4,037,158$18,010,228
76$24,380,191$6,366,298$4,079,037$19,645,860
77$26,770,665$6,581,940$4,119,379$21,443,291
78$29,401,933$6,805,115$4,158,038$23,418,907
79$32,298,461$7,036,097$4,194,864$25,590,767
80$35,487,207$7,275,169$4,229,695$27,978,765
81$38,997,876$7,522,626$4,262,363$30,604,826
82$42,863,199$7,778,774$4,292,692$33,493,105
83$47,119,242$8,043,931$4,320,494$36,670,223
84$51,805,748$8,318,427$4,345,574$40,165,509
85$56,966,508$8,602,603$4,367,724$44,011,285
86$62,649,778$8,896,817$4,386,729$48,243,166
87$68,908,730$9,201,436$4,402,360$52,900,396
88$75,801,960$9,516,845$4,414,377$58,026,220
89$83,394,031$9,843,442$4,422,531$63,668,294
90$91,756,092$10,181,641$4,426,555$69,879,128
91$100,966,544$10,531,872$4,426,175$76,716,589
92$111,111,778$10,894,580$4,421,099$84,244,443
93$122,286,996$11,270,231$4,411,022$92,532,954
94$134,597,103$11,659,306$4,395,625$101,659,556
95$148,157,702$12,062,306$4,374,572$111,709,575
96$163,096,180$12,479,751$4,347,513$122,777,037
97$179,552,914$12,912,183$4,314,078$134,965,559
98$197,682,593$13,360,162$4,273,882$148,389,322
99$217,655,682$13,824,274$4,226,521$163,174,151
100$239,660,024$14,305,126$4,171,572$179,458,702