Can I retire at age 53 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$191,583$189,877$188,212$186,587$185,000$183,373
2 years$94,843$93,077$91,365$89,705$88,095$86,456
3 years$62,601$60,827$59,119$57,475$55,891$54,290
4 years$46,483$44,714$43,024$41,408$39,862$38,312
5 years$36,814$35,056$33,388$31,805$30,303$28,807
6 years$30,371$28,626$26,983$25,435$23,977$22,539
7 years$25,770$24,040$22,423$20,911$19,500$18,120
8 years$22,321$20,607$19,016$17,542$16,177$14,854
9 years$19,640$17,942$16,379$14,942$13,624$12,358
10 years$17,497$15,815$14,279$12,880$11,608$10,399
11 years$15,744$14,079$12,571$11,209$9,983$8,830
12 years$14,284$12,637$11,157$9,832$8,651$7,552
13 years$13,050$11,420$9,968$8,680$7,544$6,498
14 years$11,994$10,380$8,956$7,705$6,613$5,619
15 years$11,078$9,483$8,086$6,872$5,823$4,879
16 years$10,278$8,700$7,331$6,153$5,146$4,252
17 years$9,573$8,013$6,671$5,528$4,563$3,716
18 years$8,947$7,404$6,090$4,982$4,057$3,256
19 years$8,388$6,862$5,575$4,502$3,616$2,859
20 years$7,885$6,376$5,116$4,077$3,230$2,516
21 years$7,431$5,939$4,706$3,700$2,891$2,217
22 years$7,018$5,544$4,337$3,365$2,591$1,957
23 years$6,642$5,185$4,005$3,064$2,326$1,729
24 years$6,298$4,858$3,704$2,795$2,090$1,529
25 years$5,981$4,559$3,430$2,552$1,881$1,354
26 years$5,690$4,285$3,182$2,334$1,694$1,200
27 years$5,420$4,033$2,954$2,136$1,528$1,064
28 years$5,171$3,800$2,746$1,957$1,378$945
29 years$4,939$3,585$2,556$1,795$1,245$839
30 years$4,723$3,386$2,381$1,647$1,125$745
31 years$4,521$3,200$2,219$1,513$1,017$662
32 years$4,332$3,028$2,071$1,390$920$589
33 years$4,155$2,868$1,933$1,278$832$524
34 years$3,989$2,718$1,807$1,176$754$466
35 years$3,832$2,578$1,689$1,083$683$415
36 years$3,685$2,447$1,580$997$618$369
37 years$3,546$2,324$1,479$919$561$329
38 years$3,414$2,209$1,385$847$508$293
39 years$3,290$2,100$1,297$781$461$261
40 years$3,172$1,998$1,216$720$418$233
41 years$3,060$1,902$1,140$665$379$207
42 years$2,954$1,811$1,070$613$344$185
43 years$2,853$1,726$1,004$566$312$165
44 years$2,756$1,645$942$523$283$147
45 years$2,665$1,569$885$483$257$131
46 years$2,577$1,497$831$446$234$117
47 years$2,494$1,428$781$412$212$104
48 years$2,414$1,363$734$381$193$93
49 years$2,338$1,302$690$352$175$83
50 years$2,265$1,244$648$325$159$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,320,000, adding $4,203 every year, while hoping to spend $24,218 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: 87/7/6 Blend
52$2,320,000$2,320,000$2,320,000$2,320,000
53$2,560,975$2,438,015$2,402,055$2,782,876
54$2,796,427$2,531,710$2,456,756$3,021,720
55$3,055,083$2,629,185$2,512,478$3,280,394
56$3,339,285$2,730,598$2,569,230$3,563,914
57$3,651,612$2,836,117$2,627,019$3,874,767
58$3,994,905$2,945,916$2,685,853$4,215,691
59$4,372,295$3,060,175$2,745,739$4,589,700
60$4,787,232$3,179,086$2,806,683$5,000,116
61$5,243,514$3,302,846$2,868,691$5,450,597
62$5,745,328$3,431,661$2,931,768$5,945,172
63$6,297,287$3,565,748$2,995,918$6,488,279
64$6,904,473$3,705,333$3,061,144$7,084,808
65$7,572,485$3,850,650$3,127,448$7,740,144
66$8,307,493$4,001,946$3,194,832$8,460,221
67$9,116,293$4,159,477$3,263,295$9,251,574
68$10,006,377$4,323,514$3,332,837$10,121,405
69$10,985,996$4,494,334$3,403,456$11,077,645
70$12,064,244$4,672,233$3,475,148$12,129,035
71$13,251,140$4,857,516$3,547,909$13,285,202
72$14,557,724$5,050,502$3,621,731$14,556,755
73$15,996,161$5,251,525$3,696,609$15,955,380
74$17,579,855$5,460,936$3,772,531$17,493,954
75$19,323,578$5,679,099$3,849,488$19,186,664
76$21,243,602$5,906,395$3,927,466$21,049,141
77$23,357,864$6,143,222$4,006,450$23,098,608
78$25,686,124$6,389,998$4,086,424$25,354,040
79$28,250,158$6,647,157$4,167,368$27,836,345
80$31,073,960$6,915,154$4,249,261$30,568,560
81$34,183,973$7,194,465$4,332,080$33,576,071
82$37,609,331$7,485,588$4,415,798$36,886,844
83$41,382,142$7,789,040$4,500,386$40,531,699
84$45,537,784$8,105,367$4,585,813$44,544,592
85$50,115,244$8,435,136$4,672,044$48,962,942
86$55,157,482$8,778,940$4,759,040$53,827,977
87$60,711,838$9,137,401$4,846,761$59,185,128
88$66,830,480$9,511,168$4,935,162$65,084,455
89$73,570,893$9,900,920$5,024,194$71,581,118
90$80,996,425$10,307,366$5,113,805$78,735,902
91$89,176,883$10,731,249$5,203,940$86,615,782
92$98,189,190$11,173,345$5,294,537$95,294,563
93$108,118,114$11,634,466$5,385,531$104,853,571
94$119,057,068$12,115,462$5,476,853$115,382,422
95$131,108,989$12,617,219$5,568,427$126,979,868
96$144,387,311$13,140,668$5,660,175$139,754,725
97$159,017,036$13,686,780$5,752,010$153,826,905
98$175,135,913$14,256,571$5,843,841$169,328,541
99$192,895,738$14,851,105$5,935,572$186,405,240
100$212,463,788$15,471,494$6,027,098$205,217,452