Can I retire at age 53 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$233,699$231,617$229,586$227,604$225,668$223,498
2 years$115,692$113,538$111,450$109,425$107,461$105,274
3 years$76,362$74,198$72,115$70,110$68,178$66,043
4 years$56,701$54,544$52,481$50,510$48,625$46,558
5 years$44,907$42,763$40,728$38,797$36,964$34,972
6 years$37,047$34,919$32,914$31,026$29,248$27,333
7 years$31,435$29,325$27,352$25,508$23,787$21,949
8 years$27,228$25,137$23,196$21,398$19,733$17,973
9 years$23,958$21,886$19,979$18,226$16,618$14,935
10 years$21,343$19,292$17,418$15,711$14,160$12,552
11 years$19,205$17,174$15,335$13,674$12,178$10,645
12 years$17,424$15,415$13,609$11,994$10,553$9,093
13 years$15,919$13,930$12,159$10,589$9,202$7,814
14 years$14,630$12,662$10,925$9,399$8,067$6,748
15 years$13,514$11,567$9,864$8,383$7,103$5,852
16 years$12,538$10,613$8,943$7,506$6,277$5,092
17 years$11,678$9,774$8,138$6,744$5,566$4,444
18 years$10,914$9,032$7,429$6,077$4,949$3,889
19 years$10,232$8,370$6,801$5,492$4,411$3,410
20 years$9,618$7,778$6,241$4,974$3,940$2,996
21 years$9,064$7,245$5,741$4,514$3,526$2,636
22 years$8,561$6,763$5,291$4,104$3,160$2,323
23 years$8,102$6,325$4,885$3,738$2,837$2,050
24 years$7,682$5,926$4,518$3,409$2,550$1,810
25 years$7,296$5,562$4,185$3,113$2,295$1,601
26 years$6,941$5,227$3,881$2,847$2,067$1,416
27 years$6,612$4,919$3,604$2,606$1,863$1,254
28 years$6,307$4,635$3,350$2,387$1,681$1,111
29 years$6,024$4,373$3,118$2,189$1,518$985
30 years$5,761$4,130$2,904$2,009$1,372$874
31 years$5,514$3,904$2,707$1,845$1,240$775
32 years$5,284$3,694$2,526$1,696$1,122$688
33 years$5,068$3,498$2,359$1,559$1,015$611
34 years$4,865$3,316$2,204$1,435$919$543
35 years$4,674$3,145$2,060$1,321$833$482
36 years$4,495$2,985$1,927$1,216$754$429
37 years$4,325$2,835$1,804$1,121$684$381
38 years$4,165$2,694$1,689$1,033$620$339
39 years$4,013$2,562$1,583$953$562$301
40 years$3,869$2,437$1,483$879$510$268
41 years$3,733$2,320$1,391$811$463$238
42 years$3,603$2,210$1,305$748$420$212
43 years$3,480$2,105$1,224$691$381$189
44 years$3,362$2,007$1,149$638$346$168
45 years$3,251$1,914$1,079$589$314$149
46 years$3,144$1,826$1,014$544$285$133
47 years$3,042$1,742$952$503$259$118
48 years$2,945$1,663$895$464$235$105
49 years$2,852$1,588$841$429$213$94
50 years$2,763$1,517$791$397$194$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,830,000, adding $6,943 every year, while hoping to spend $40,086 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: 40/38/22 Blend
52$2,830,000$2,830,000$2,830,000$2,830,000
53$3,125,822$2,975,832$2,931,967$3,230,251
54$3,402,004$3,078,996$2,987,536$3,409,078
55$3,705,014$3,185,872$3,043,624$3,598,090
56$4,037,545$3,296,600$3,100,205$3,801,765
57$4,402,565$3,411,323$3,157,252$4,021,463
58$4,803,342$3,530,193$3,214,735$4,258,678
59$5,243,477$3,653,367$3,272,623$4,515,053
60$5,726,937$3,781,008$3,330,882$4,792,393
61$6,258,092$3,913,285$3,389,474$5,092,684
62$6,841,756$4,050,374$3,448,359$5,418,110
63$7,483,231$4,192,458$3,507,495$5,771,071
64$8,188,360$4,339,729$3,566,837$6,154,208
65$8,963,581$4,492,383$3,626,334$6,570,427
66$9,815,985$4,650,628$3,685,934$7,022,924
67$10,753,384$4,814,678$3,745,582$7,515,215
68$11,784,388$4,984,756$3,805,218$8,051,172
69$12,918,480$5,161,093$3,864,777$8,635,051
70$14,166,110$5,343,932$3,924,192$9,271,542
71$15,538,792$5,533,523$3,983,391$9,965,802
72$17,049,210$5,730,128$4,042,296$10,723,511
73$18,711,344$5,934,018$4,100,827$11,550,919
74$20,540,593$6,145,477$4,158,897$12,454,909
75$22,553,928$6,364,800$4,216,414$13,443,058
76$24,770,046$6,592,292$4,273,281$14,523,707
77$27,209,549$6,828,273$4,329,395$15,706,044
78$29,895,141$7,073,076$4,384,647$17,000,181
79$32,851,834$7,327,046$4,438,922$18,417,259
80$36,107,193$7,590,543$4,492,098$19,969,541
81$39,691,589$7,863,942$4,544,046$21,670,538
82$43,638,490$8,147,634$4,594,630$23,535,126
83$47,984,773$8,442,025$4,643,707$25,579,690
84$52,771,075$8,747,539$4,691,126$27,822,278
85$58,042,172$9,064,617$4,736,727$30,282,767
86$63,847,408$9,393,717$4,780,341$32,983,052
87$70,241,153$9,735,319$4,821,792$35,947,251
88$77,283,322$10,089,920$4,860,893$39,201,930
89$85,039,935$10,458,040$4,897,447$42,776,355
90$93,583,744$10,840,221$4,931,248$46,702,761
91$102,994,919$11,237,024$4,962,078$51,016,665
92$113,361,802$11,649,039$4,989,708$55,757,189
93$124,781,740$12,076,876$5,013,897$60,967,434
94$137,362,008$12,521,174$5,034,394$66,694,883
95$151,220,819$12,982,598$5,050,932$72,991,850
96$166,488,437$13,461,839$5,063,233$79,915,968
97$183,308,409$13,959,621$5,071,003$87,530,734
98$201,838,920$14,476,696$5,073,935$95,906,107
99$222,254,285$15,013,849$5,071,706$105,119,164
100$244,746,592$15,571,897$5,063,978$115,254,828