Can I retire at age 53 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$184,151$182,511$180,911$179,349$177,823$172,338
2 years$91,164$89,466$87,821$86,225$84,678$79,200
3 years$60,172$58,467$56,826$55,245$53,723$48,424
4 years$44,679$42,980$41,355$39,801$38,316$33,236
5 years$35,386$33,696$32,093$30,571$29,127$24,280
6 years$29,193$27,516$25,936$24,448$23,047$18,437
7 years$24,771$23,108$21,553$20,100$18,744$14,371
8 years$21,455$19,808$18,278$16,861$15,550$11,411
9 years$18,878$17,246$15,743$14,362$13,095$9,186
10 years$16,818$15,202$13,725$12,380$11,158$7,472
11 years$15,133$13,533$12,084$10,775$9,596$6,128
12 years$13,730$12,147$10,724$9,451$8,316$5,058
13 years$12,544$10,977$9,581$8,344$7,251$4,196
14 years$11,528$9,978$8,609$7,407$6,357$3,496
15 years$10,649$9,115$7,772$6,605$5,597$2,922
16 years$9,880$8,363$7,047$5,914$4,946$2,450
17 years$9,202$7,702$6,412$5,314$4,386$2,058
18 years$8,600$7,117$5,854$4,789$3,900$1,733
19 years$8,062$6,596$5,359$4,327$3,476$1,461
20 years$7,579$6,129$4,918$3,919$3,105$1,233
21 years$7,142$5,709$4,524$3,557$2,778$1,042
22 years$6,746$5,329$4,169$3,234$2,490$882
23 years$6,384$4,984$3,850$2,945$2,236$747
24 years$6,053$4,670$3,560$2,686$2,009$633
25 years$5,749$4,382$3,297$2,453$1,808$536
26 years$5,469$4,119$3,058$2,243$1,629$455
27 years$5,210$3,876$2,840$2,053$1,468$386
28 years$4,970$3,653$2,640$1,881$1,325$327
29 years$4,747$3,446$2,457$1,725$1,196$278
30 years$4,539$3,254$2,288$1,583$1,081$236
31 years$4,345$3,076$2,133$1,454$977$201
32 years$4,164$2,911$1,990$1,336$884$170
33 years$3,994$2,757$1,858$1,229$800$145
34 years$3,834$2,613$1,736$1,131$724$123
35 years$3,683$2,478$1,623$1,041$656$105
36 years$3,542$2,352$1,519$959$594$89
37 years$3,408$2,234$1,421$883$539$75
38 years$3,282$2,123$1,331$814$488$64
39 years$3,162$2,019$1,247$751$443$55
40 years$3,049$1,921$1,169$692$402$46
41 years$2,941$1,828$1,096$639$365$39
42 years$2,839$1,741$1,028$589$331$34
43 years$2,742$1,659$965$544$300$28
44 years$2,650$1,581$906$502$272$24
45 years$2,561$1,508$850$464$247$21
46 years$2,477$1,439$799$429$225$18
47 years$2,397$1,373$750$396$204$15
48 years$2,321$1,311$705$366$185$13
49 years$2,247$1,252$663$338$168$11
50 years$2,177$1,195$623$313$153$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,230,000, adding $2,971 every year, while hoping to spend $28,027 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: 55/17/28 Blend
52$2,230,000$2,230,000$2,230,000$2,230,000
53$2,460,525$2,342,335$2,307,770$2,576,629
54$2,681,678$2,427,288$2,355,259$2,741,989
55$2,924,449$2,515,466$2,403,401$2,918,858
56$3,191,014$2,606,995$2,452,186$3,110,934
57$3,483,769$2,702,009$2,501,606$3,319,692
58$3,805,354$2,800,649$2,551,650$3,546,753
59$4,158,678$2,903,058$2,602,308$3,793,903
60$4,546,943$3,009,388$2,653,566$4,063,107
61$4,973,681$3,119,797$2,705,409$4,356,527
62$5,442,778$3,234,449$2,757,822$4,676,547
63$5,958,519$3,353,515$2,810,788$5,025,786
64$6,525,625$3,477,174$2,864,285$5,407,134
65$7,149,294$3,605,610$2,918,294$5,823,767
66$7,835,256$3,739,019$2,972,791$6,279,188
67$8,589,823$3,877,603$3,027,751$6,777,249
68$9,419,950$4,021,571$3,083,146$7,322,197
69$10,333,301$4,171,143$3,138,947$7,918,707
70$11,338,317$4,326,548$3,195,121$8,571,926
71$12,444,302$4,488,026$3,251,634$9,287,528
72$13,661,506$4,655,824$3,308,449$10,071,757
73$15,001,223$4,830,203$3,365,526$10,931,495
74$16,475,898$5,011,433$3,422,821$11,874,319
75$18,099,243$5,199,797$3,480,289$12,908,579
76$19,886,368$5,395,589$3,537,880$14,043,469
77$21,853,921$5,599,116$3,595,543$15,289,122
78$24,020,247$5,810,700$3,653,220$16,656,696
79$26,405,561$6,030,673$3,710,852$18,158,486
80$29,032,138$6,259,385$3,768,375$19,808,037
81$31,924,521$6,497,201$3,825,721$21,620,271
82$35,109,758$6,744,499$3,882,818$23,611,626
83$38,617,650$7,001,676$3,939,589$25,800,216
84$42,481,038$7,269,146$3,995,953$28,205,994
85$46,736,110$7,547,340$4,051,824$30,850,947
86$51,422,742$7,836,709$4,107,109$33,759,298
87$56,584,877$8,137,723$4,161,712$36,957,736
88$62,270,936$8,450,872$4,215,530$40,475,666
89$68,534,276$8,776,670$4,268,455$44,345,491
90$75,433,695$9,115,650$4,320,372$48,602,908
91$83,033,986$9,468,371$4,371,159$53,287,254
92$91,406,548$9,835,416$4,420,688$58,441,870
93$100,630,058$10,217,394$4,468,823$64,114,512
94$110,791,218$10,614,940$4,515,423$70,357,803
95$121,985,568$11,028,718$4,560,335$77,229,724
96$134,318,392$11,459,422$4,603,402$84,794,166
97$147,905,709$11,907,773$4,644,457$93,121,528
98$162,875,367$12,374,530$4,683,322$102,289,385
99$179,368,253$12,860,481$4,719,812$112,383,214
100$197,539,621$13,366,451$4,753,732$123,497,205