Can I retire at age 53 with 2,060,000?

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$170,113$168,598$167,119$165,676$164,267$159,585
2 years$84,214$82,646$81,126$79,652$78,223$73,541
3 years$55,585$54,010$52,494$51,034$49,628$45,094
4 years$41,273$39,703$38,202$36,767$35,395$31,045
5 years$32,689$31,128$29,646$28,241$26,907$22,751
6 years$26,967$25,418$23,959$22,584$21,290$17,333
7 years$22,882$21,346$19,910$18,568$17,315$13,556
8 years$19,820$18,298$16,885$15,576$14,364$10,802
9 years$17,439$15,931$14,543$13,267$12,097$8,728
10 years$15,536$14,043$12,679$11,437$10,307$7,127
11 years$13,980$12,501$11,162$9,953$8,864$5,867
12 years$12,684$11,221$9,906$8,730$7,682$4,862
13 years$11,588$10,140$8,851$7,708$6,699$4,050
14 years$10,649$9,217$7,952$6,842$5,872$3,388
15 years$9,837$8,420$7,180$6,102$5,170$2,844
16 years$9,127$7,725$6,510$5,463$4,569$2,394
17 years$8,501$7,115$5,924$4,909$4,052$2,021
18 years$7,945$6,574$5,407$4,424$3,602$1,709
19 years$7,448$6,093$4,950$3,997$3,211$1,447
20 years$7,001$5,662$4,543$3,620$2,868$1,227
21 years$6,598$5,274$4,179$3,286$2,567$1,042
22 years$6,231$4,923$3,851$2,987$2,301$886
23 years$5,897$4,604$3,556$2,721$2,065$753
24 years$5,592$4,314$3,289$2,481$1,856$641
25 years$5,311$4,048$3,046$2,266$1,670$546
26 years$5,052$3,805$2,825$2,072$1,505$466
27 years$4,813$3,581$2,623$1,897$1,356$397
28 years$4,591$3,374$2,439$1,738$1,224$339
29 years$4,385$3,183$2,269$1,594$1,105$289
30 years$4,193$3,006$2,114$1,462$999$246
31 years$4,014$2,842$1,971$1,343$903$210
32 years$3,846$2,689$1,839$1,234$817$180
33 years$3,689$2,546$1,717$1,135$739$153
34 years$3,542$2,413$1,604$1,044$669$131
35 years$3,403$2,289$1,500$961$606$112
36 years$3,272$2,173$1,403$885$549$96
37 years$3,148$2,064$1,313$816$498$82
38 years$3,032$1,961$1,230$752$451$70
39 years$2,921$1,865$1,152$693$409$60
40 years$2,816$1,774$1,080$640$371$51
41 years$2,717$1,689$1,013$590$337$44
42 years$2,623$1,608$950$545$306$37
43 years$2,533$1,533$891$503$277$32
44 years$2,448$1,461$837$464$252$27
45 years$2,366$1,393$786$429$228$23
46 years$2,289$1,329$738$396$207$20
47 years$2,215$1,268$693$366$188$17
48 years$2,144$1,211$651$338$171$14
49 years$2,076$1,156$612$312$155$12
50 years$2,011$1,104$576$289$141$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,060,000, adding $5,920 every year, while hoping to spend $28,196 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: 53/22/25 Blend
52$2,060,000$2,060,000$2,060,000$2,060,000
53$2,276,226$2,167,046$2,135,116$2,380,777
54$2,478,401$2,243,231$2,176,643$2,529,814
55$2,700,253$2,322,204$2,218,615$2,688,528
56$2,943,759$2,404,072$2,261,018$2,860,671
57$3,211,096$2,488,946$2,303,837$3,047,536
58$3,504,665$2,576,942$2,347,053$3,250,548
59$3,827,109$2,668,179$2,390,646$3,471,272
60$4,181,338$2,762,784$2,434,597$3,711,432
61$4,570,560$2,860,886$2,478,881$3,972,926
62$4,998,308$2,962,621$2,523,475$4,257,844
63$5,468,476$3,068,130$2,568,352$4,568,483
64$5,985,352$3,177,559$2,613,483$4,907,375
65$6,553,660$3,291,062$2,658,837$5,277,308
66$7,178,606$3,408,797$2,704,381$5,681,350
67$7,865,926$3,530,931$2,750,080$6,122,880
68$8,621,939$3,657,634$2,795,896$6,605,619
69$9,453,605$3,789,087$2,841,787$7,133,663
70$10,368,597$3,925,476$2,887,711$7,711,525
71$11,375,366$4,066,997$2,933,622$8,344,174
72$12,483,225$4,213,851$2,979,469$9,037,083
73$13,702,433$4,366,249$3,025,200$9,796,281
74$15,044,297$4,524,411$3,070,761$10,628,408
75$16,521,274$4,688,566$3,116,090$11,540,775
76$18,147,090$4,858,951$3,161,125$12,541,439
77$19,936,870$5,035,816$3,205,799$13,639,275
78$21,907,278$5,219,419$3,250,041$14,844,056
79$24,076,679$5,410,030$3,293,776$16,166,551
80$26,465,307$5,607,928$3,336,924$17,618,622
81$29,095,459$5,813,406$3,379,401$19,213,339
82$31,991,702$6,026,770$3,421,118$20,965,097
83$35,181,111$6,248,337$3,461,981$22,889,759
84$38,693,516$6,478,437$3,501,889$25,004,798
85$42,561,790$6,717,416$3,540,738$27,329,467
86$46,822,157$6,965,633$3,578,416$29,884,977
87$51,514,531$7,223,464$3,614,808$32,694,697
88$56,682,898$7,491,299$3,649,789$35,784,375
89$62,375,726$7,769,544$3,683,229$39,182,380
90$68,646,424$8,058,626$3,714,991$42,919,970
91$75,553,848$8,358,987$3,744,931$47,031,583
92$83,162,851$8,671,088$3,772,897$51,555,168
93$91,544,901$8,995,411$3,798,729$56,532,535
94$100,778,753$9,332,458$3,822,259$62,009,754
95$110,951,191$9,682,753$3,843,309$68,037,587
96$122,157,847$10,046,843$3,861,694$74,671,968
97$134,504,105$10,425,296$3,877,219$81,974,529
98$148,106,096$10,818,707$3,889,678$90,013,181
99$163,091,790$11,227,697$3,898,855$98,862,754
100$179,602,210$11,652,911$3,904,524$108,605,705