Can I retire at age 53 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$201,493$199,698$197,947$196,238$194,569$189,481
2 years$99,749$97,891$96,091$94,345$92,652$87,561
3 years$65,839$63,973$62,177$60,448$58,782$53,847
4 years$48,887$47,027$45,249$43,549$41,924$37,182
5 years$38,719$36,870$35,115$33,450$31,870$27,335
6 years$31,942$30,107$28,378$26,750$25,218$20,894
7 years$27,103$25,284$23,582$21,993$20,509$16,397
8 years$23,476$21,673$20,000$18,449$17,014$13,112
9 years$20,656$18,870$17,226$15,715$14,328$10,633
10 years$18,402$16,633$15,018$13,546$12,208$8,714
11 years$16,558$14,807$13,221$11,789$10,500$7,202
12 years$15,023$13,290$11,734$10,341$9,099$5,992
13 years$13,725$12,011$10,483$9,129$7,934$5,011
14 years$12,614$10,917$9,419$8,104$6,955$4,210
15 years$11,651$9,973$8,504$7,227$6,124$3,549
16 years$10,810$9,150$7,710$6,471$5,412$3,000
17 years$10,069$8,427$7,016$5,814$4,799$2,543
18 years$9,410$7,787$6,405$5,240$4,267$2,160
19 years$8,822$7,217$5,863$4,735$3,803$1,838
20 years$8,293$6,706$5,381$4,288$3,397$1,566
21 years$7,815$6,247$4,950$3,892$3,040$1,336
22 years$7,381$5,831$4,562$3,539$2,725$1,141
23 years$6,985$5,454$4,212$3,223$2,446$975
24 years$6,623$5,110$3,895$2,939$2,199$834
25 years$6,291$4,795$3,608$2,684$1,978$714
26 years$5,984$4,507$3,346$2,454$1,782$611
27 years$5,701$4,241$3,107$2,247$1,607$524
28 years$5,438$3,997$2,889$2,058$1,450$449
29 years$5,194$3,770$2,688$1,888$1,309$385
30 years$4,967$3,561$2,504$1,732$1,183$330
31 years$4,754$3,366$2,334$1,591$1,069$283
32 years$4,556$3,185$2,178$1,462$967$243
33 years$4,370$3,016$2,033$1,345$875$208
34 years$4,195$2,859$1,900$1,237$793$179
35 years$4,030$2,711$1,776$1,139$718$154
36 years$3,875$2,573$1,662$1,049$650$132
37 years$3,729$2,444$1,555$966$590$113
38 years$3,591$2,323$1,457$891$534$97
39 years$3,460$2,209$1,365$821$485$83
40 years$3,336$2,102$1,279$758$440$72
41 years$3,218$2,000$1,199$699$399$62
42 years$3,106$1,905$1,125$645$362$53
43 years$3,000$1,815$1,056$595$328$45
44 years$2,899$1,730$991$550$298$39
45 years$2,803$1,650$930$508$271$33
46 years$2,711$1,574$874$469$246$29
47 years$2,623$1,502$821$433$223$25
48 years$2,539$1,434$772$400$203$21
49 years$2,459$1,369$725$370$184$18
50 years$2,382$1,308$682$342$167$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,440,000, adding $4,769 every year, while hoping to spend $34,276 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: 74/5/21 Blend
52$2,440,000$2,440,000$2,440,000$2,440,000
53$2,693,799$2,564,479$2,526,659$2,879,202
54$2,932,097$2,653,669$2,574,833$3,092,179
55$3,193,553$2,746,081$2,623,472$3,320,892
56$3,480,492$2,841,836$2,672,555$3,570,661
57$3,795,477$2,941,060$2,722,060$3,843,577
58$4,141,330$3,043,886$2,771,963$4,141,944
59$4,521,158$3,150,450$2,822,237$4,468,298
60$4,938,388$3,260,893$2,872,853$4,825,433
61$5,396,792$3,375,365$2,923,782$5,216,427
62$5,900,525$3,494,019$2,974,989$5,644,670
63$6,454,167$3,617,014$3,026,440$6,113,896
64$7,062,762$3,744,517$3,078,095$6,628,221
65$7,731,867$3,876,702$3,129,915$7,192,175
66$8,467,605$4,013,748$3,181,854$7,810,753
67$9,276,721$4,155,842$3,233,867$8,489,454
68$10,166,648$4,303,180$3,285,903$9,234,339
69$11,145,574$4,455,963$3,337,908$10,052,085
70$12,222,521$4,614,404$3,389,827$10,950,048
71$13,407,430$4,778,722$3,441,598$11,936,332
72$14,711,254$4,949,145$3,493,157$13,019,868
73$16,146,059$5,125,911$3,544,436$14,210,495
74$17,725,144$5,309,267$3,595,361$15,519,053
75$19,463,160$5,499,472$3,645,857$16,957,487
76$21,376,250$5,696,794$3,695,840$18,538,958
77$23,482,202$5,901,511$3,745,226$20,277,969
78$25,800,617$6,113,915$3,793,921$22,190,498
79$28,353,091$6,334,309$3,841,829$24,294,153
80$31,163,424$6,563,008$3,888,848$26,608,335
81$34,257,838$6,800,340$3,934,869$29,154,423
82$37,665,228$7,046,647$3,979,778$31,955,972
83$41,417,434$7,302,286$4,023,453$35,038,941
84$45,549,542$7,567,627$4,065,768$38,431,933
85$50,100,211$7,843,057$4,106,587$42,166,466
86$55,112,044$8,128,978$4,145,769$46,277,271
87$60,631,985$8,425,810$4,183,165$50,802,621
88$66,711,763$8,733,990$4,218,617$55,784,688
89$73,408,381$9,053,974$4,251,958$61,269,946
90$80,784,652$9,386,235$4,283,015$67,309,604
91$88,909,794$9,731,269$4,311,604$73,960,095
92$97,860,082$10,089,589$4,337,532$81,283,604
93$107,719,566$10,461,735$4,360,595$89,348,658
94$118,580,867$10,848,265$4,380,580$98,230,770
95$130,546,049$11,249,763$4,397,262$108,013,153
96$143,727,581$11,666,837$4,410,406$118,787,505
97$158,249,404$12,100,122$4,419,765$130,654,878
98$174,248,094$12,550,278$4,425,077$143,726,623
99$191,874,154$13,017,996$4,426,071$158,125,452
100$211,293,433$13,503,993$4,422,460$173,986,586