Can I retire at age 53 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$199,841$198,061$196,325$194,629$192,974$189,233
2 years$98,931$97,089$95,303$93,572$91,892$88,138
3 years$65,299$63,449$61,667$59,952$58,300$54,650
4 years$48,486$46,641$44,878$43,192$41,580$38,063
5 years$38,401$36,567$34,827$33,176$31,609$28,233
6 years$31,680$29,860$28,146$26,531$25,011$21,782
7 years$26,881$25,076$23,389$21,813$20,341$17,258
8 years$23,283$21,495$19,836$18,298$16,874$13,938
9 years$20,487$18,715$17,085$15,586$14,211$11,419
10 years$18,251$16,497$14,895$13,435$12,108$9,458
11 years$16,423$14,686$13,113$11,693$10,413$7,901
12 years$14,900$13,181$11,638$10,256$9,024$6,647
13 years$13,613$11,912$10,397$9,055$7,869$5,623
14 years$12,510$10,828$9,342$8,038$6,898$4,778
15 years$11,556$9,891$8,435$7,168$6,074$4,076
16 years$10,722$9,075$7,647$6,418$5,368$3,488
17 years$9,986$8,358$6,959$5,767$4,760$2,993
18 years$9,333$7,723$6,352$5,197$4,232$2,574
19 years$8,749$7,158$5,815$4,696$3,772$2,218
20 years$8,225$6,651$5,337$4,253$3,369$1,914
21 years$7,751$6,195$4,909$3,860$3,015$1,654
22 years$7,320$5,783$4,524$3,510$2,703$1,431
23 years$6,928$5,409$4,177$3,196$2,426$1,240
24 years$6,569$5,068$3,863$2,915$2,181$1,075
25 years$6,239$4,756$3,578$2,662$1,962$932
26 years$5,935$4,470$3,319$2,434$1,767$809
27 years$5,654$4,207$3,082$2,228$1,594$703
28 years$5,394$3,964$2,865$2,041$1,438$611
29 years$5,152$3,739$2,666$1,872$1,298$531
30 years$4,926$3,531$2,483$1,718$1,173$462
31 years$4,716$3,338$2,315$1,578$1,061$402
32 years$4,519$3,159$2,160$1,450$959$350
33 years$4,334$2,991$2,017$1,334$868$304
34 years$4,160$2,835$1,884$1,227$786$265
35 years$3,997$2,689$1,762$1,129$712$231
36 years$3,844$2,552$1,648$1,040$645$201
37 years$3,698$2,424$1,543$958$585$175
38 years$3,561$2,304$1,445$883$530$153
39 years$3,432$2,191$1,353$815$481$133
40 years$3,309$2,084$1,269$751$436$116
41 years$3,192$1,984$1,190$693$396$101
42 years$3,081$1,890$1,116$640$359$88
43 years$2,976$1,800$1,047$591$326$77
44 years$2,875$1,716$983$545$296$67
45 years$2,780$1,636$923$504$268$58
46 years$2,689$1,561$867$465$244$51
47 years$2,602$1,490$814$430$221$44
48 years$2,518$1,422$765$397$201$39
49 years$2,439$1,358$719$367$183$34
50 years$2,363$1,297$676$339$166$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,420,000, adding $5,201 every year, while hoping to spend $58,141 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: 55/34/11 Blend
52$2,420,000$2,420,000$2,420,000$2,420,000
53$2,672,205$2,543,945$2,506,435$2,811,481
54$2,882,908$2,606,737$2,528,539$2,969,235
55$3,113,155$2,670,656$2,549,435$3,134,110
56$3,364,876$2,735,698$2,569,020$3,312,256
57$3,640,200$2,801,854$2,587,189$3,504,949
58$3,941,468$2,869,113$2,603,828$3,713,591
59$4,271,260$2,937,461$2,618,818$3,939,728
60$4,632,414$3,006,883$2,632,034$4,185,060
61$5,028,060$3,077,359$2,643,347$4,451,462
62$5,461,640$3,148,868$2,652,617$4,740,998
63$5,936,948$3,221,383$2,659,700$5,055,942
64$6,458,161$3,294,875$2,664,444$5,398,797
65$7,029,880$3,369,311$2,666,691$5,772,323
66$7,657,175$3,444,654$2,666,271$6,179,560
67$8,345,626$3,520,861$2,663,010$6,623,856
68$9,101,382$3,597,886$2,656,724$7,108,900
69$9,931,218$3,675,677$2,647,219$7,638,758
70$10,842,594$3,754,177$2,634,293$8,217,908
71$11,843,730$3,833,323$2,617,733$8,851,287
72$12,943,680$3,913,046$2,597,317$9,544,332
73$14,152,420$3,993,269$2,572,811$10,303,036
74$15,480,938$4,073,911$2,543,971$11,134,002
75$16,941,342$4,154,881$2,510,543$12,044,508
76$18,546,969$4,236,080$2,472,256$13,042,573
77$20,312,515$4,317,403$2,428,832$14,137,033
78$22,254,170$4,398,735$2,379,977$15,337,628
79$24,389,772$4,479,949$2,325,382$16,655,089
80$26,738,974$4,560,912$2,264,728$18,101,245
81$29,323,430$4,641,478$2,197,677$19,689,129
82$32,166,999$4,721,489$2,123,878$21,433,107
83$35,295,968$4,800,777$2,042,964$23,349,011
84$38,739,302$4,879,161$1,954,548$25,454,286
85$42,528,915$4,956,444$1,858,230$27,768,162
86$46,699,972$5,032,417$1,753,588$30,311,830
87$51,291,220$5,106,856$1,640,184$33,108,644
88$56,345,352$5,179,520$1,517,558$36,184,344
89$61,909,413$5,250,151$1,385,230$39,567,296
90$68,035,237$5,318,473$1,242,700$43,288,763
91$74,779,945$5,384,191$1,089,444$47,383,202
92$82,206,473$5,446,991$924,914$51,888,583
93$90,384,176$5,506,535$748,541$56,846,759
94$99,389,472$5,562,465$559,727$62,303,851
95$109,306,570$5,614,399$357,850$68,310,692
96$120,228,263$5,661,927$142,261$74,923,303
97$132,256,800$5,704,616$0$82,203,428
98$145,504,853$5,742,001$0$90,229,417
99$160,096,581$5,773,592$0$99,084,445
100$176,168,796$5,798,862$0$108,834,535