Can I retire at age 53 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$693,664$687,485$681,457$675,573$669,828$649,687
2 years$343,398$337,003$330,804$324,795$318,966$298,844
3 years$226,658$220,235$214,052$208,099$202,365$182,893
4 years$168,299$161,896$155,775$149,924$144,328$125,656
5 years$133,293$126,928$120,888$115,156$109,716$91,893
6 years$109,964$103,647$97,695$92,091$86,815$69,857
7 years$93,306$87,042$81,185$75,713$70,604$54,511
8 years$80,819$74,611$68,852$63,514$58,572$43,335
9 years$71,111$64,963$59,302$54,100$49,326$34,928
10 years$63,350$57,261$51,701$46,634$42,029$28,448
11 years$57,004$50,976$45,517$40,586$36,146$23,361
12 years$51,719$45,754$40,395$35,599$31,323$19,307
13 years$47,251$41,348$36,090$31,429$27,315$16,040
14 years$43,425$37,584$32,427$27,899$23,944$13,381
15 years$40,111$34,334$29,277$24,881$21,082$11,201
16 years$37,215$31,501$26,544$22,278$18,632$9,403
17 years$34,662$29,011$24,154$20,017$16,521$7,912
18 years$32,396$26,807$22,050$18,039$14,689$6,670
19 years$30,370$24,845$20,185$16,300$13,093$5,632
20 years$28,549$23,087$18,525$14,763$11,695$4,762
21 years$26,904$21,505$17,040$13,398$10,466$4,031
22 years$25,410$20,074$15,705$12,182$9,381$3,416
23 years$24,048$18,775$14,500$11,094$8,421$2,897
24 years$22,802$17,591$13,410$10,119$7,569$2,458
25 years$21,656$16,508$12,421$9,241$6,811$2,087
26 years$20,601$15,515$11,520$8,449$6,135$1,773
27 years$19,626$14,601$10,697$7,734$5,531$1,506
28 years$18,722$13,759$9,944$7,086$4,991$1,281
29 years$17,882$12,980$9,254$6,498$4,507$1,089
30 years$17,099$12,258$8,620$5,964$4,072$926
31 years$16,368$11,588$8,036$5,477$3,682$788
32 years$15,684$10,964$7,498$5,034$3,330$671
33 years$15,043$10,383$7,001$4,629$3,014$571
34 years$14,441$9,841$6,541$4,259$2,729$486
35 years$13,875$9,334$6,115$3,921$2,471$413
36 years$13,341$8,860$5,721$3,611$2,239$352
37 years$12,837$8,415$5,354$3,327$2,030$300
38 years$12,361$7,997$5,014$3,066$1,840$255
39 years$11,911$7,604$4,698$2,827$1,669$217
40 years$11,484$7,235$4,403$2,608$1,513$185
41 years$11,079$6,887$4,129$2,406$1,373$158
42 years$10,694$6,559$3,873$2,221$1,246$134
43 years$10,329$6,249$3,634$2,050$1,131$114
44 years$9,980$5,957$3,411$1,893$1,026$97
45 years$9,649$5,680$3,203$1,748$932$83
46 years$9,332$5,419$3,009$1,615$846$71
47 years$9,030$5,171$2,826$1,492$768$60
48 years$8,741$4,937$2,656$1,378$698$51
49 years$8,465$4,714$2,497$1,274$634$44
50 years$8,201$4,503$2,347$1,177$575$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $8,400,000, adding $6,161 every year, while hoping to spend $53,501 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: 48/45/7 Blend
52$8,400,000$8,400,000$8,400,000$8,400,000
53$9,263,155$8,817,955$8,687,755$9,690,404
54$10,151,072$9,193,110$8,921,870$10,358,747
55$11,127,764$9,584,855$9,162,035$11,077,807
56$12,202,228$9,993,945$9,408,396$11,857,226
57$13,384,380$10,421,173$9,661,102$12,702,632
58$14,685,144$10,867,368$9,920,306$13,620,206
59$16,116,555$11,333,396$10,186,163$14,616,737
60$17,691,877$11,820,165$10,458,832$15,699,678
61$19,425,722$12,328,626$10,738,476$16,877,221
62$21,334,190$12,859,774$11,025,260$18,158,363
63$23,435,025$13,414,650$11,319,353$19,552,995
64$25,747,774$13,994,344$11,620,928$21,071,983
65$28,293,978$14,599,998$11,930,161$22,727,273
66$31,097,373$15,232,808$12,247,230$24,531,998
67$34,184,113$15,894,023$12,572,320$26,500,596
68$37,583,017$16,584,954$12,905,617$28,648,943
69$41,325,840$17,306,973$13,247,311$30,994,499
70$45,447,577$18,061,515$13,597,597$33,556,465
71$49,986,785$18,850,085$13,956,672$36,355,963
72$54,985,955$19,674,257$14,324,738$39,416,224
73$60,491,906$20,535,679$14,702,001$42,762,810
74$66,556,232$21,436,079$15,088,669$46,423,840
75$73,235,785$22,377,264$15,484,957$50,430,257
76$80,593,213$23,361,128$15,891,081$54,816,108
77$88,697,551$24,389,654$16,307,262$59,618,863
78$97,624,872$25,464,918$16,733,727$64,879,758
79$107,459,006$26,589,095$17,170,703$70,644,179
80$118,292,327$27,764,464$17,618,424$76,962,082
81$130,226,631$28,993,409$18,077,128$83,888,454
82$143,374,092$30,278,430$18,547,056$91,483,830
83$157,858,320$31,622,144$19,028,453$99,814,848
84$173,815,531$33,027,292$19,521,570$108,954,873
85$191,395,832$34,496,746$20,026,659$118,984,678
86$210,764,634$36,033,513$20,543,978$129,993,200
87$232,104,216$37,640,744$21,073,791$142,078,363
88$255,615,445$39,321,740$21,616,362$155,347,995
89$281,519,672$41,079,957$22,171,962$169,920,834
90$310,060,821$42,919,018$22,740,866$185,927,636
91$341,507,691$44,842,716$23,323,351$203,512,396
92$376,156,493$46,855,027$23,919,700$222,833,694
93$414,333,646$48,960,113$24,530,201$244,066,181
94$456,398,858$51,162,339$25,155,142$267,402,208
95$502,748,521$53,466,273$25,794,819$293,053,631
96$553,819,455$55,876,705$26,449,531$321,253,791
97$610,093,028$58,398,652$27,119,578$352,259,703
98$672,099,700$61,037,370$27,805,268$386,354,465
99$740,424,035$63,798,366$28,506,910$423,849,908
100$815,710,212$66,687,412$29,224,817$465,089,526