Can I retire at age 53 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$611,085$605,642$600,331$595,148$590,086$569,150
2 years$302,517$296,883$291,423$286,129$280,994$260,123
3 years$199,675$194,016$188,570$183,325$178,274$158,126
4 years$148,264$142,623$137,231$132,076$127,146$107,875
5 years$117,425$111,818$106,497$101,447$96,655$78,310
6 years$96,873$91,308$86,065$81,128$76,480$59,075
7 years$82,198$76,680$71,520$66,700$62,198$45,731
8 years$71,197$65,729$60,655$55,953$51,600$36,056
9 years$62,646$57,229$52,242$47,659$43,454$28,813
10 years$55,808$50,444$45,546$41,083$37,025$23,262
11 years$50,218$44,908$40,098$35,754$31,843$18,930
12 years$45,562$40,307$35,586$31,361$27,594$15,500
13 years$41,626$36,426$31,794$27,687$24,063$12,755
14 years$38,255$33,110$28,567$24,578$21,093$10,538
15 years$35,336$30,246$25,792$21,919$18,572$8,734
16 years$32,785$27,751$23,384$19,626$16,414$7,258
17 years$30,536$25,557$21,279$17,634$14,554$6,045
18 years$28,539$23,616$19,425$15,892$12,941$5,043
19 years$26,754$21,887$17,782$14,360$11,534$4,214
20 years$25,150$20,339$16,320$13,005$10,303$3,525
21 years$23,701$18,945$15,011$11,803$9,220$2,952
22 years$22,385$17,684$13,835$10,732$8,264$2,474
23 years$21,185$16,540$12,774$9,774$7,418$2,075
24 years$20,087$15,496$11,814$8,914$6,668$1,741
25 years$19,078$14,543$10,942$8,141$6,000$1,462
26 years$18,149$13,668$10,148$7,444$5,405$1,228
27 years$17,289$12,863$9,423$6,813$4,873$1,032
28 years$16,493$12,121$8,760$6,242$4,397$867
29 years$15,753$11,434$8,152$5,724$3,970$729
30 years$15,063$10,799$7,594$5,254$3,587$613
31 years$14,419$10,208$7,079$4,825$3,243$515
32 years$13,817$9,659$6,605$4,434$2,934$434
33 years$13,252$9,147$6,167$4,078$2,655$365
34 years$12,722$8,670$5,762$3,752$2,404$307
35 years$12,223$8,223$5,387$3,454$2,177$258
36 years$11,753$7,805$5,040$3,181$1,973$217
37 years$11,309$7,413$4,717$2,931$1,788$183
38 years$10,890$7,045$4,417$2,701$1,621$154
39 years$10,493$6,699$4,139$2,491$1,470$129
40 years$10,117$6,373$3,879$2,297$1,333$109
41 years$9,760$6,067$3,637$2,120$1,210$92
42 years$9,421$5,778$3,412$1,956$1,098$77
43 years$9,099$5,505$3,202$1,806$996$65
44 years$8,792$5,248$3,005$1,667$904$55
45 years$8,500$5,004$2,822$1,540$821$46
46 years$8,221$4,774$2,650$1,422$745$39
47 years$7,955$4,556$2,490$1,314$677$33
48 years$7,701$4,349$2,340$1,214$615$27
49 years$7,458$4,153$2,199$1,122$558$23
50 years$7,225$3,967$2,068$1,037$507$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $7,400,000, adding $2,655 every year, while hoping to spend $35,797 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: 56/22/22 Blend
52$7,400,000$7,400,000$7,400,000$7,400,000
53$8,157,539$7,765,339$7,650,639$8,565,585
54$8,951,520$8,107,752$7,868,847$9,187,276
55$9,825,287$8,465,745$8,093,166$9,860,206
56$10,786,942$8,840,041$8,323,762$10,592,566
57$11,845,408$9,231,402$8,560,807$11,390,078
58$13,010,521$9,640,622$8,804,475$12,259,035
59$14,293,118$10,068,536$9,054,949$13,206,357
60$15,705,138$10,516,017$9,312,412$14,239,658
61$17,259,740$10,983,979$9,577,055$15,367,310
62$18,971,420$11,473,380$9,849,073$16,598,527
63$20,856,154$11,985,225$10,128,666$17,943,445
64$22,931,544$12,520,564$10,416,039$19,413,215
65$25,216,989$13,080,499$10,711,403$21,020,110
66$27,733,861$13,666,182$11,014,975$22,777,636
67$30,505,713$14,278,824$11,326,975$24,700,658
68$33,558,499$14,919,689$11,647,632$26,805,535
69$36,920,817$15,590,105$11,977,178$29,110,275
70$40,624,181$16,291,461$12,315,854$31,634,703
71$44,703,318$17,025,212$12,663,906$34,400,639
72$49,196,493$17,792,885$13,021,584$37,432,110
73$54,145,876$18,596,077$13,389,147$40,755,564
74$59,597,933$19,436,462$13,766,861$44,400,125
75$65,603,869$20,315,796$14,154,998$48,397,860
76$72,220,110$21,235,916$14,553,836$52,784,076
77$79,508,833$22,198,748$14,963,662$57,597,656
78$87,538,557$23,206,310$15,384,768$62,881,416
79$96,384,788$24,260,717$15,817,456$68,682,509
80$106,130,730$25,364,185$16,262,033$75,052,862
81$116,868,070$26,519,036$16,718,817$82,049,667
82$128,697,847$27,727,702$17,188,132$89,735,912
83$141,731,402$28,992,735$17,670,309$98,180,971
84$156,091,431$30,316,804$18,165,690$107,461,258
85$171,913,140$31,702,711$18,674,624$117,660,936
86$189,345,526$33,153,390$19,197,469$128,872,713
87$208,552,778$34,671,914$19,734,593$141,198,707
88$229,715,832$36,261,508$20,286,372$154,751,407
89$253,034,073$37,925,548$20,853,192$169,654,724
90$278,727,222$39,667,574$21,435,448$186,045,160
91$307,037,408$41,491,295$22,033,545$204,073,085
92$338,231,454$43,400,598$22,647,898$223,904,154
93$372,603,393$45,399,558$23,278,934$245,720,857
94$410,477,249$47,492,446$23,927,088$269,724,241
95$452,210,089$49,683,738$24,592,806$296,135,794
96$498,195,401$51,978,123$25,276,548$325,199,532
97$548,866,800$54,380,520$25,978,781$357,184,290
98$604,702,130$56,896,081$26,699,986$392,386,253
99$666,227,967$59,530,209$27,440,655$431,131,741
100$734,024,595$62,288,565$28,201,293$473,780,281