Can I retire at age 53 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$198,190$196,424$194,702$193,021$191,379$187,592
2 years$98,114$96,286$94,516$92,799$91,133$87,333
3 years$64,759$62,924$61,158$59,457$57,819$54,125
4 years$48,086$46,256$44,507$42,835$41,237$37,678
5 years$38,084$36,265$34,539$32,902$31,347$27,933
6 years$31,418$29,613$27,913$26,312$24,804$21,538
7 years$26,659$24,869$23,196$21,632$20,172$17,056
8 years$23,091$21,318$19,672$18,147$16,735$13,767
9 years$20,318$18,561$16,943$15,457$14,093$11,271
10 years$18,100$16,360$14,772$13,324$12,008$9,330
11 years$16,287$14,565$13,005$11,596$10,327$7,790
12 years$14,777$13,072$11,541$10,171$8,950$6,549
13 years$13,500$11,814$10,311$8,980$7,804$5,536
14 years$12,407$10,738$9,265$7,971$6,841$4,701
15 years$11,460$9,810$8,365$7,109$6,023$4,008
16 years$10,633$9,000$7,584$6,365$5,324$3,427
17 years$9,904$8,289$6,901$5,719$4,720$2,939
18 years$9,256$7,659$6,300$5,154$4,197$2,525
19 years$8,677$7,099$5,767$4,657$3,741$2,174
20 years$8,157$6,596$5,293$4,218$3,341$1,875
21 years$7,687$6,144$4,868$3,828$2,990$1,619
22 years$7,260$5,735$4,487$3,481$2,680$1,400
23 years$6,871$5,364$4,143$3,170$2,406$1,212
24 years$6,515$5,026$3,832$2,891$2,163$1,050
25 years$6,188$4,717$3,549$2,640$1,946$910
26 years$5,886$4,433$3,291$2,414$1,753$789
27 years$5,607$4,172$3,056$2,210$1,580$685
28 years$5,349$3,931$2,841$2,025$1,426$595
29 years$5,109$3,708$2,644$1,857$1,288$517
30 years$4,885$3,502$2,463$1,704$1,163$449
31 years$4,677$3,311$2,296$1,565$1,052$390
32 years$4,481$3,133$2,142$1,438$951$339
33 years$4,298$2,967$2,000$1,323$861$295
34 years$4,126$2,812$1,869$1,217$780$257
35 years$3,964$2,667$1,747$1,120$706$223
36 years$3,812$2,531$1,634$1,032$640$194
37 years$3,668$2,404$1,530$951$580$169
38 years$3,532$2,285$1,433$876$526$147
39 years$3,403$2,173$1,342$808$477$128
40 years$3,281$2,067$1,258$745$432$112
41 years$3,165$1,968$1,180$687$392$97
42 years$3,056$1,874$1,107$634$356$85
43 years$2,951$1,785$1,038$586$323$74
44 years$2,852$1,702$975$541$293$64
45 years$2,757$1,623$915$499$266$56
46 years$2,666$1,548$860$461$242$49
47 years$2,580$1,477$808$426$219$42
48 years$2,498$1,410$759$394$199$37
49 years$2,419$1,347$713$364$181$32
50 years$2,343$1,287$671$336$164$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,400,000, adding $5,383 every year, while hoping to spend $24,537 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: 57/24/19 Blend
52$2,400,000$2,400,000$2,400,000$2,400,000
53$2,650,353$2,523,153$2,485,953$2,787,752
54$2,894,581$2,620,680$2,543,125$2,979,356
55$3,162,899$2,722,164$2,601,390$3,184,951
56$3,457,737$2,827,772$2,660,759$3,408,461
57$3,781,773$2,937,680$2,721,241$3,651,615
58$4,137,959$3,052,071$2,782,847$3,916,315
59$4,529,544$3,171,136$2,845,586$4,204,652
60$4,960,111$3,295,075$2,909,467$4,518,928
61$5,433,605$3,424,096$2,974,497$4,861,676
62$5,954,374$3,558,418$3,040,683$5,235,683
63$6,527,207$3,698,267$3,108,033$5,644,016
64$7,157,382$3,843,882$3,176,552$6,090,052
65$7,850,713$3,995,511$3,246,245$6,577,506
66$8,613,607$4,153,412$3,317,116$7,110,469
67$9,453,124$4,317,858$3,389,168$7,693,443
68$10,377,040$4,489,131$3,462,403$8,331,386
69$11,393,927$4,667,527$3,536,821$9,029,756
70$12,513,226$4,853,354$3,612,424$9,794,562
71$13,745,343$5,046,936$3,689,208$10,632,421
72$15,101,742$5,248,611$3,767,171$11,550,619
73$16,595,058$5,458,730$3,846,309$12,557,179
74$18,239,208$5,677,663$3,926,615$13,660,937
75$20,049,534$5,905,794$4,008,082$14,871,623
76$22,042,934$6,143,527$4,090,702$16,199,953
77$24,238,035$6,391,281$4,174,462$17,657,730
78$26,655,358$6,649,497$4,259,349$19,257,952
79$29,317,517$6,918,635$4,345,349$21,014,938
80$32,249,430$7,199,174$4,432,445$22,944,457
81$35,478,556$7,491,618$4,520,616$25,063,881
82$39,035,153$7,796,492$4,609,842$27,392,342
83$42,952,564$8,114,345$4,700,096$29,950,919
84$47,267,528$8,445,751$4,791,352$32,762,830
85$52,020,534$8,791,311$4,883,581$35,853,651
86$57,256,196$9,151,652$4,976,748$39,251,557
87$63,023,676$9,527,431$5,070,817$42,987,590
88$69,377,151$9,919,335$5,165,750$47,095,943
89$76,376,320$10,328,082$5,261,502$51,614,290
90$84,086,969$10,754,423$5,358,026$56,584,132
91$92,581,593$11,199,142$5,455,273$62,051,195
92$101,940,077$11,663,062$5,553,187$68,065,854
93$112,250,454$12,147,042$5,651,708$74,683,611
94$123,609,734$12,651,980$5,750,773$81,965,615
95$136,124,816$13,178,816$5,850,313$89,979,239
96$149,913,504$13,728,535$5,950,256$98,798,711
97$165,105,612$14,302,164$6,050,520$108,505,818
98$181,844,195$14,900,781$6,151,023$119,190,673
99$200,286,895$15,525,511$6,251,674$130,952,562
100$220,607,429$16,177,532$6,352,376$143,900,883