Can I retire at age 53 with 2,710,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,710,000?

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$223,789$221,796$219,851$217,953$216,099$211,823
2 years$110,787$108,723$106,724$104,785$102,904$98,614
3 years$73,124$71,052$69,057$67,137$65,287$61,116
4 years$54,297$52,231$50,256$48,368$46,563$42,544
5 years$43,003$40,950$39,001$37,151$35,397$31,541
6 years$35,476$33,438$31,518$29,710$28,008$24,320
7 years$30,102$28,081$26,192$24,426$22,778$19,259
8 years$26,074$24,071$22,213$20,491$18,897$15,545
9 years$22,942$20,958$19,132$17,454$15,914$12,727
10 years$20,438$18,474$16,680$15,045$13,559$10,535
11 years$18,391$16,446$14,684$13,094$11,661$8,796
12 years$16,686$14,761$13,032$11,485$10,106$7,394
13 years$15,244$13,340$11,643$10,140$8,812$6,251
14 years$14,010$12,125$10,462$9,001$7,725$5,309
15 years$12,941$11,077$9,445$8,027$6,801$4,526
16 years$12,006$10,163$8,564$7,187$6,011$3,870
17 years$11,183$9,359$7,793$6,458$5,330$3,318
18 years$10,451$8,649$7,114$5,820$4,739$2,852
19 years$9,798$8,015$6,512$5,259$4,224$2,455
20 years$9,210$7,448$5,977$4,763$3,773$2,117
21 years$8,680$6,938$5,497$4,322$3,376$1,828
22 years$8,198$6,476$5,067$3,930$3,026$1,581
23 years$7,758$6,057$4,678$3,579$2,717$1,368
24 years$7,356$5,675$4,326$3,264$2,442$1,185
25 years$6,987$5,326$4,007$2,981$2,197$1,027
26 years$6,646$5,005$3,716$2,726$1,979$891
27 years$6,332$4,711$3,451$2,495$1,784$773
28 years$6,040$4,439$3,208$2,286$1,610$672
29 years$5,769$4,187$2,985$2,096$1,454$583
30 years$5,516$3,955$2,781$1,924$1,314$507
31 years$5,281$3,738$2,593$1,767$1,188$441
32 years$5,060$3,537$2,419$1,624$1,074$383
33 years$4,853$3,350$2,259$1,493$972$333
34 years$4,659$3,175$2,110$1,374$880$290
35 years$4,476$3,011$1,973$1,265$797$252
36 years$4,304$2,858$1,846$1,165$722$219
37 years$4,142$2,715$1,727$1,073$655$191
38 years$3,988$2,580$1,618$989$594$166
39 years$3,843$2,453$1,516$912$538$145
40 years$3,705$2,334$1,421$841$488$126
41 years$3,574$2,222$1,332$776$443$110
42 years$3,450$2,116$1,250$716$402$95
43 years$3,332$2,016$1,172$661$365$83
44 years$3,220$1,922$1,101$611$331$72
45 years$3,113$1,833$1,033$564$301$63
46 years$3,011$1,748$971$521$273$55
47 years$2,913$1,668$912$481$248$48
48 years$2,820$1,593$857$445$225$42
49 years$2,731$1,521$805$411$204$36
50 years$2,646$1,453$757$380$186$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,710,000, adding $6,665 every year, while hoping to spend $24,141 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: 79/16/5 Blend
52$2,710,000$2,710,000$2,710,000$2,710,000
53$2,993,295$2,849,665$2,807,660$3,228,657
54$3,272,925$2,963,613$2,876,031$3,497,689
55$3,580,269$3,082,335$2,945,883$3,788,865
56$3,918,126$3,206,040$3,017,240$4,107,522
57$4,289,585$3,334,945$3,090,127$4,456,386
58$4,698,044$3,469,279$3,164,568$4,838,456
59$5,147,250$3,609,279$3,240,587$5,257,034
60$5,641,331$3,755,195$3,318,207$5,715,757
61$6,184,833$3,907,286$3,397,454$6,218,629
62$6,782,767$4,065,824$3,478,349$6,770,058
63$7,440,653$4,231,093$3,560,918$7,374,900
64$8,164,574$4,403,391$3,645,183$8,038,500
65$8,961,231$4,583,028$3,731,168$8,766,747
66$9,838,010$4,770,329$3,818,895$9,566,126
67$10,803,046$4,965,635$3,908,387$10,443,777
68$11,865,305$5,169,299$3,999,666$11,407,567
69$13,034,665$5,381,694$4,092,754$12,466,160
70$14,322,012$5,603,207$4,187,672$13,629,098
71$15,739,339$5,834,246$4,284,441$14,906,893
72$17,299,862$6,075,236$4,383,081$16,311,121
73$19,018,145$6,326,619$4,483,611$17,854,539
74$20,910,234$6,588,862$4,586,050$19,551,194
75$22,993,812$6,862,450$4,690,417$21,416,562
76$25,288,363$7,147,892$4,796,728$23,467,695
77$27,815,357$7,445,720$4,905,000$25,723,372
78$30,598,454$7,756,491$5,015,247$28,204,286
79$33,663,723$8,080,786$5,127,485$30,933,231
80$37,039,893$8,419,214$5,241,726$33,935,320
81$40,758,620$8,772,414$5,357,982$37,238,221
82$44,854,788$9,141,050$5,476,263$40,872,416
83$49,366,837$9,525,822$5,596,578$44,871,486
84$54,337,126$9,927,459$5,718,935$49,272,433
85$59,812,332$10,346,725$5,843,339$54,116,022
86$65,843,894$10,784,418$5,969,795$59,447,167
87$72,488,492$11,241,376$6,098,304$65,315,354
88$79,808,588$11,718,472$6,228,867$71,775,108
89$87,873,011$12,216,625$6,361,481$78,886,506
90$96,757,609$12,736,790$6,496,141$86,715,738
91$106,545,966$13,279,973$6,632,842$95,335,740
92$117,330,185$13,847,223$6,771,574$104,826,872
93$129,211,766$14,439,639$6,912,323$115,277,680
94$142,302,556$15,058,371$7,055,076$126,785,728
95$156,725,809$15,704,623$7,199,813$139,458,522
96$172,617,348$16,379,656$7,346,513$153,414,517
97$190,126,848$17,084,790$7,495,152$168,784,236
98$209,419,246$17,821,404$7,645,699$185,711,501
99$230,676,302$18,590,946$7,798,123$204,354,790
100$254,098,310$19,394,928$7,952,386$224,888,729