Can I retire at age 53 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$143,688$142,408$141,159$139,940$138,750$137,415
2 years$71,132$69,808$68,524$67,279$66,071$64,727
3 years$46,951$45,620$44,339$43,106$41,918$40,606
4 years$34,862$33,536$32,268$31,056$29,897$28,626
5 years$27,611$26,292$25,041$23,854$22,727$21,502
6 years$22,778$21,470$20,237$19,076$17,983$16,805
7 years$19,328$18,030$16,817$15,683$14,625$13,495
8 years$16,741$15,455$14,262$13,156$12,133$11,051
9 years$14,730$13,457$12,284$11,206$10,218$9,183
10 years$13,122$11,861$10,709$9,660$8,706$7,718
11 years$11,808$10,559$9,428$8,407$7,487$6,545
12 years$10,713$9,478$8,367$7,374$6,488$5,591
13 years$9,788$8,565$7,476$6,510$5,658$4,805
14 years$8,995$7,785$6,717$5,779$4,960$4,149
15 years$8,309$7,112$6,065$5,154$4,367$3,598
16 years$7,709$6,525$5,498$4,615$3,860$3,131
17 years$7,180$6,009$5,003$4,146$3,422$2,733
18 years$6,711$5,553$4,567$3,737$3,043$2,391
19 years$6,291$5,146$4,181$3,376$2,712$2,097
20 years$5,914$4,782$3,837$3,058$2,423$1,842
21 years$5,573$4,455$3,530$2,775$2,168$1,621
22 years$5,263$4,158$3,253$2,523$1,943$1,428
23 years$4,981$3,889$3,004$2,298$1,744$1,260
24 years$4,723$3,644$2,778$2,096$1,568$1,113
25 years$4,486$3,419$2,573$1,914$1,411$984
26 years$4,267$3,214$2,386$1,750$1,271$871
27 years$4,065$3,025$2,216$1,602$1,146$771
28 years$3,878$2,850$2,060$1,468$1,034$683
29 years$3,704$2,689$1,917$1,346$934$606
30 years$3,542$2,539$1,786$1,235$843$537
31 years$3,391$2,400$1,665$1,135$763$477
32 years$3,249$2,271$1,553$1,043$690$423
33 years$3,116$2,151$1,450$959$624$376
34 years$2,991$2,039$1,355$882$565$334
35 years$2,874$1,934$1,267$812$512$297
36 years$2,764$1,835$1,185$748$464$264
37 years$2,659$1,743$1,109$689$420$234
38 years$2,561$1,656$1,039$635$381$208
39 years$2,467$1,575$973$586$346$185
40 years$2,379$1,499$912$540$313$165
41 years$2,295$1,427$855$498$284$147
42 years$2,215$1,359$802$460$258$130
43 years$2,139$1,294$753$425$234$116
44 years$2,067$1,234$707$392$213$103
45 years$1,999$1,177$664$362$193$92
46 years$1,933$1,122$623$334$175$82
47 years$1,871$1,071$585$309$159$73
48 years$1,811$1,023$550$286$145$65
49 years$1,754$977$517$264$131$58
50 years$1,699$933$486$244$119$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,740,000, adding $2,427 every year, while hoping to spend $34,629 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: 73/14/13 Blend
52$1,740,000$1,740,000$1,740,000$1,740,000
53$1,919,983$1,827,763$1,800,793$2,054,706
54$2,078,977$1,880,479$1,824,275$2,196,878
55$2,253,027$1,934,617$1,847,383$2,348,049
56$2,443,633$1,990,210$1,870,067$2,512,699
57$2,652,446$2,047,293$1,892,277$2,692,153
58$2,881,284$2,105,899$1,913,957$2,887,873
59$3,132,149$2,166,062$1,935,049$3,101,466
60$3,407,248$2,227,819$1,955,492$3,334,704
61$3,709,008$2,291,203$1,975,223$3,589,538
62$4,040,107$2,356,251$1,994,172$3,868,116
63$4,403,489$2,423,000$2,012,268$4,172,804
64$4,802,403$2,491,484$2,029,437$4,506,210
65$5,240,423$2,561,742$2,045,598$4,871,204
66$5,721,488$2,633,810$2,060,668$5,270,951
67$6,249,939$2,707,725$2,074,559$5,708,934
68$6,830,554$2,783,525$2,087,178$6,188,992
69$7,468,600$2,861,248$2,098,429$6,715,354
70$8,169,879$2,940,930$2,108,208$7,292,679
71$8,940,782$3,022,611$2,116,408$7,926,101
72$9,788,351$3,106,329$2,122,917$8,621,274
73$10,720,344$3,192,119$2,127,615$9,384,429
74$11,745,308$3,280,022$2,130,379$10,222,431
75$12,872,659$3,370,073$2,131,077$11,142,844
76$14,112,775$3,462,311$2,129,573$12,154,002
77$15,477,086$3,556,773$2,125,722$13,265,088
78$16,978,189$3,653,494$2,119,373$14,486,219
79$18,629,960$3,752,512$2,110,368$15,828,545
80$20,447,693$3,853,861$2,098,542$17,304,349
81$22,448,234$3,957,577$2,083,720$18,927,167
82$24,650,149$4,063,694$2,065,720$20,711,916
83$27,073,894$4,172,245$2,044,351$22,675,029
84$29,742,008$4,283,261$2,019,414$24,834,618
85$32,679,327$4,396,775$1,990,698$27,210,638
86$35,913,216$4,512,815$1,957,985$29,825,079
87$39,473,832$4,631,410$1,921,044$32,702,174
88$43,394,400$4,752,587$1,879,636$35,868,624
89$47,711,534$4,876,369$1,833,510$39,353,853
90$52,465,580$5,002,781$1,782,402$43,190,285
91$57,700,994$5,131,842$1,726,037$47,413,651
92$63,466,764$5,263,570$1,664,128$52,063,323
93$69,816,871$5,397,982$1,596,373$57,182,689
94$76,810,798$5,535,089$1,522,458$62,819,562
95$84,514,093$5,674,902$1,442,053$69,026,628
96$92,998,984$5,817,427$1,354,816$75,861,949
97$102,345,065$5,962,665$1,260,387$83,389,506
98$112,640,042$6,110,616$1,158,390$91,679,805
99$123,980,564$6,261,274$1,048,434$100,810,542
100$136,473,132$6,414,627$930,108$110,867,340