Can I retire at age 53 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$160,203$158,776$157,384$156,025$154,698$153,019
2 years$79,309$77,832$76,400$75,012$73,666$71,975
3 years$52,347$50,864$49,436$48,061$46,737$45,087
4 years$38,869$37,390$35,977$34,625$33,333$31,737
5 years$30,784$29,314$27,919$26,596$25,339$23,801
6 years$25,396$23,937$22,563$21,269$20,050$18,572
7 years$21,549$20,103$18,750$17,486$16,306$14,889
8 years$18,665$17,232$15,901$14,669$13,527$12,171
9 years$16,423$15,003$13,696$12,494$11,392$10,096
10 years$14,631$13,225$11,940$10,770$9,707$8,470
11 years$13,165$11,773$10,512$9,373$8,348$7,170
12 years$11,945$10,567$9,329$8,222$7,234$6,113
13 years$10,913$9,549$8,335$7,259$6,308$5,243
14 years$10,029$8,680$7,489$6,443$5,530$4,519
15 years$9,264$7,929$6,762$5,746$4,869$3,911
16 years$8,595$7,275$6,130$5,145$4,303$3,396
17 years$8,005$6,700$5,578$4,623$3,816$2,958
18 years$7,482$6,191$5,092$4,166$3,393$2,582
19 years$7,014$5,738$4,662$3,765$3,024$2,260
20 years$6,593$5,332$4,278$3,409$2,701$1,981
21 years$6,213$4,967$3,935$3,094$2,417$1,739
22 years$5,868$4,636$3,627$2,813$2,167$1,529
23 years$5,554$4,336$3,349$2,562$1,945$1,346
24 years$5,266$4,063$3,097$2,337$1,748$1,186
25 years$5,002$3,813$2,869$2,134$1,573$1,046
26 years$4,758$3,583$2,660$1,951$1,417$924
27 years$4,533$3,372$2,470$1,786$1,277$816
28 years$4,324$3,178$2,297$1,637$1,153$721
29 years$4,130$2,998$2,137$1,501$1,041$638
30 years$3,949$2,831$1,991$1,377$940$564
31 years$3,780$2,676$1,856$1,265$850$499
32 years$3,622$2,532$1,732$1,163$769$442
33 years$3,474$2,398$1,617$1,069$696$392
34 years$3,335$2,273$1,511$984$630$347
35 years$3,204$2,156$1,412$905$571$308
36 years$3,081$2,046$1,321$834$517$273
37 years$2,965$1,943$1,237$768$469$242
38 years$2,855$1,847$1,158$708$425$215
39 years$2,751$1,756$1,085$653$385$190
40 years$2,652$1,671$1,017$602$350$169
41 years$2,559$1,591$954$556$317$150
42 years$2,470$1,515$894$513$288$133
43 years$2,385$1,443$839$473$261$118
44 years$2,305$1,376$788$437$237$105
45 years$2,228$1,312$740$404$215$93
46 years$2,155$1,251$695$373$195$82
47 years$2,086$1,194$653$345$177$73
48 years$2,019$1,140$613$318$161$65
49 years$1,955$1,089$577$294$146$58
50 years$1,894$1,040$542$272$133$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $1,940,000, adding $4,269 every year, while hoping to spend $45,661 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: 71/24/5 Blend
52$1,940,000$1,940,000$1,940,000$1,940,000
53$2,142,283$2,039,463$2,009,393$2,293,078
54$2,312,213$2,090,814$2,028,125$2,444,480
55$2,497,946$2,143,151$2,045,954$2,604,030
56$2,701,044$2,196,473$2,062,802$2,777,369
57$2,923,231$2,250,780$2,078,585$2,965,839
58$3,166,401$2,306,069$2,093,218$3,170,920
59$3,432,641$2,362,334$2,106,609$3,394,238
60$3,724,251$2,419,569$2,118,661$3,637,585
61$4,043,762$2,477,765$2,129,273$3,902,935
62$4,393,962$2,536,912$2,138,340$4,192,461
63$4,777,921$2,596,995$2,145,749$4,508,556
64$5,199,020$2,657,999$2,151,383$4,853,856
65$5,660,985$2,719,906$2,155,119$5,231,264
66$6,167,917$2,782,693$2,156,827$5,643,978
67$6,724,337$2,846,337$2,156,373$6,095,522
68$7,335,220$2,910,809$2,153,613$6,589,775
69$8,006,052$2,976,077$2,148,398$7,131,012
70$8,742,871$3,042,107$2,140,571$7,723,943
71$9,552,332$3,108,859$2,129,969$8,373,755
72$10,441,766$3,176,288$2,116,418$9,086,164
73$11,419,247$3,244,348$2,099,739$9,867,467
74$12,493,673$3,312,983$2,079,743$10,724,603
75$13,674,844$3,382,136$2,056,231$11,665,214
76$14,973,560$3,451,742$2,028,996$12,697,724
77$16,401,716$3,521,731$1,997,822$13,831,412
78$17,972,422$3,592,027$1,962,479$15,076,503
79$19,700,118$3,662,545$1,922,732$16,444,263
80$21,600,717$3,733,196$1,878,329$17,947,107
81$23,691,748$3,803,882$1,829,012$19,598,714
82$25,992,530$3,874,495$1,774,507$21,414,156
83$28,524,344$3,944,921$1,714,529$23,410,042
84$31,310,641$4,015,036$1,648,780$25,604,674
85$34,377,260$4,084,707$1,576,947$28,018,220
86$37,752,672$4,153,789$1,498,706$30,672,902
87$41,468,247$4,222,127$1,413,716$33,593,210
88$45,558,552$4,289,555$1,321,619$36,806,128
89$50,061,675$4,355,894$1,222,044$40,341,395
90$55,019,586$4,420,953$1,114,602$44,231,780
91$60,478,529$4,484,525$998,887$48,513,393
92$66,489,464$4,546,391$874,474$53,226,028
93$73,108,540$4,606,316$740,921$58,413,539
94$80,397,633$4,664,047$597,763$64,124,248
95$88,424,922$4,719,316$444,519$70,411,409
96$97,265,537$4,771,835$280,682$77,333,707
97$107,002,264$4,821,297$105,728$84,955,813
98$117,726,330$4,867,376$0$93,348,992
99$129,538,261$4,909,722$0$102,596,102
100$142,548,829$4,947,965$0$112,785,670