Can I retire at age 53 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$238,653$236,528$234,454$232,429$230,453$229,000
2 years$118,145$115,945$113,812$111,745$109,739$108,274
3 years$77,981$75,771$73,644$71,596$69,623$68,191
4 years$57,903$55,700$53,594$51,581$49,656$48,267
5 years$45,859$43,669$41,591$39,619$37,748$36,407
6 years$37,833$35,659$33,612$31,684$29,868$28,577
7 years$32,102$29,947$27,932$26,049$24,291$23,050
8 years$27,805$25,670$23,688$21,852$20,152$18,961
9 years$24,466$22,350$20,403$18,613$16,971$15,830
10 years$21,795$19,701$17,788$16,044$14,460$13,368
11 years$19,612$17,538$15,660$13,964$12,436$11,393
12 years$17,794$15,741$13,898$12,248$10,777$9,782
13 years$16,257$14,226$12,417$10,813$9,398$8,449
14 years$14,940$12,931$11,156$9,599$8,238$7,335
15 years$13,800$11,812$10,073$8,560$7,253$6,395
16 years$12,804$10,838$9,132$7,665$6,410$5,595
17 years$11,925$9,981$8,310$6,887$5,684$4,910
18 years$11,146$9,223$7,586$6,206$5,054$4,321
19 years$10,449$8,548$6,945$5,608$4,505$3,811
20 years$9,822$7,943$6,374$5,079$4,024$3,367
21 years$9,256$7,399$5,862$4,610$3,601$2,981
22 years$8,742$6,906$5,403$4,191$3,228$2,642
23 years$8,274$6,459$4,989$3,817$2,897$2,346
24 years$7,845$6,052$4,614$3,481$2,604$2,085
25 years$7,451$5,679$4,273$3,179$2,343$1,854
26 years$7,088$5,338$3,963$2,907$2,111$1,651
27 years$6,752$5,024$3,680$2,661$1,903$1,471
28 years$6,441$4,734$3,421$2,438$1,717$1,312
29 years$6,152$4,466$3,184$2,236$1,551$1,171
30 years$5,883$4,217$2,966$2,052$1,401$1,045
31 years$5,631$3,987$2,765$1,884$1,267$934
32 years$5,396$3,772$2,580$1,732$1,146$834
33 years$5,176$3,572$2,409$1,593$1,037$746
34 years$4,968$3,386$2,250$1,465$939$667
35 years$4,774$3,211$2,104$1,349$850$597
36 years$4,590$3,048$1,968$1,242$770$534
37 years$4,417$2,895$1,842$1,145$698$478
38 years$4,253$2,751$1,725$1,055$633$428
39 years$4,098$2,616$1,616$973$574$383
40 years$3,951$2,489$1,515$897$521$343
41 years$3,812$2,369$1,421$828$472$307
42 years$3,679$2,257$1,332$764$429$275
43 years$3,554$2,150$1,250$705$389$246
44 years$3,434$2,049$1,174$651$353$221
45 years$3,320$1,954$1,102$601$321$198
46 years$3,211$1,864$1,035$555$291$177
47 years$3,107$1,779$972$513$264$159
48 years$3,007$1,698$914$474$240$142
49 years$2,913$1,622$859$438$218$128
50 years$2,822$1,549$808$405$198$114

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,890,000, adding $4,388 every year, while hoping to spend $53,278 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: 56/22/22 Blend
52$2,890,000$2,890,000$2,890,000$2,890,000
53$3,189,306$3,036,136$2,991,341$3,348,665
54$3,457,928$3,128,220$3,034,864$3,550,191
55$3,752,164$3,223,029$3,078,059$3,763,605
56$4,074,569$3,320,643$3,120,859$3,994,966
57$4,427,961$3,421,139$3,163,193$4,246,012
58$4,815,438$3,524,601$3,204,985$4,518,658
59$5,240,417$3,631,110$3,246,156$4,815,014
60$5,706,658$3,740,753$3,286,621$5,137,402
61$6,218,305$3,853,618$3,326,290$5,488,378
62$6,779,921$3,969,794$3,365,070$5,870,758
63$7,396,534$4,089,375$3,402,861$6,287,644
64$8,073,680$4,212,454$3,439,557$6,742,450
65$8,817,461$4,339,130$3,475,047$7,238,939
66$9,634,596$4,469,501$3,509,215$7,781,254
67$10,532,487$4,603,669$3,541,936$8,373,959
68$11,519,291$4,741,739$3,573,082$9,022,082
69$12,603,993$4,883,818$3,602,514$9,731,161
70$13,796,490$5,030,016$3,630,088$10,507,299
71$15,107,690$5,180,444$3,655,654$11,357,216
72$16,549,607$5,335,218$3,679,051$12,288,317
73$18,135,478$5,494,455$3,700,110$13,308,762
74$19,879,889$5,658,276$3,718,657$14,427,539
75$21,798,910$5,826,804$3,734,504$15,654,552
76$23,910,247$6,000,165$3,747,457$17,000,711
77$26,233,406$6,178,488$3,757,312$18,478,039
78$28,789,884$6,361,904$3,763,852$20,099,782
79$31,603,364$6,550,549$3,766,853$21,880,538
80$34,699,941$6,744,560$3,766,076$23,836,387
81$38,108,370$6,944,078$3,761,275$25,985,051
82$41,860,334$7,149,248$3,752,187$28,346,055
83$45,990,742$7,360,215$3,738,539$30,940,917
84$50,538,062$7,577,130$3,720,045$33,793,345
85$55,544,681$7,800,147$3,696,404$36,929,463
86$61,057,306$8,029,421$3,667,300$40,378,060
87$67,127,400$8,265,112$3,632,404$44,170,857
88$73,811,675$8,507,382$3,591,370$48,342,813
89$81,172,621$8,756,399$3,543,835$52,932,445
90$89,279,096$9,012,330$3,489,421$57,982,202
91$98,206,977$9,275,348$3,427,731$63,538,860
92$108,039,877$9,545,628$3,358,348$69,653,962
93$118,869,930$9,823,349$3,280,838$76,384,311
94$130,798,663$10,108,694$3,194,746$83,792,498
95$143,937,953$10,401,846$3,099,597$91,947,501
96$158,411,082$10,702,994$2,994,891$100,925,329
97$174,353,901$11,012,329$2,880,108$110,809,747
98$191,916,112$11,330,046$2,754,705$121,693,058
99$211,262,678$11,656,341$2,618,110$133,676,982
100$232,575,385$11,991,416$2,469,731$146,873,613