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

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$238,653$236,528$234,454$232,429$230,453$227,009
2 years$118,145$115,945$113,812$111,745$109,739$106,278
3 years$77,981$75,771$73,644$71,596$69,623$66,251
4 years$57,903$55,700$53,594$51,581$49,656$46,399
5 years$45,859$43,669$41,591$39,619$37,748$34,616
6 years$37,833$35,659$33,612$31,684$29,868$26,866
7 years$32,102$29,947$27,932$26,049$24,291$21,418
8 years$27,805$25,670$23,688$21,852$20,152$17,408
9 years$24,466$22,350$20,403$18,613$16,971$14,355
10 years$21,795$19,701$17,788$16,044$14,460$11,970
11 years$19,612$17,538$15,660$13,964$12,436$10,070
12 years$17,794$15,741$13,898$12,248$10,777$8,531
13 years$16,257$14,226$12,417$10,813$9,398$7,269
14 years$14,940$12,931$11,156$9,599$8,238$6,224
15 years$13,800$11,812$10,073$8,560$7,253$5,349
16 years$12,804$10,838$9,132$7,665$6,410$4,613
17 years$11,925$9,981$8,310$6,887$5,684$3,990
18 years$11,146$9,223$7,586$6,206$5,054$3,458
19 years$10,449$8,548$6,945$5,608$4,505$3,004
20 years$9,822$7,943$6,374$5,079$4,024$2,614
21 years$9,256$7,399$5,862$4,610$3,601$2,278
22 years$8,742$6,906$5,403$4,191$3,228$1,988
23 years$8,274$6,459$4,989$3,817$2,897$1,736
24 years$7,845$6,052$4,614$3,481$2,604$1,518
25 years$7,451$5,679$4,273$3,179$2,343$1,329
26 years$7,088$5,338$3,963$2,907$2,111$1,164
27 years$6,752$5,024$3,680$2,661$1,903$1,020
28 years$6,441$4,734$3,421$2,438$1,717$894
29 years$6,152$4,466$3,184$2,236$1,551$784
30 years$5,883$4,217$2,966$2,052$1,401$688
31 years$5,631$3,987$2,765$1,884$1,267$604
32 years$5,396$3,772$2,580$1,732$1,146$531
33 years$5,176$3,572$2,409$1,593$1,037$466
34 years$4,968$3,386$2,250$1,465$939$410
35 years$4,774$3,211$2,104$1,349$850$360
36 years$4,590$3,048$1,968$1,242$770$317
37 years$4,417$2,895$1,842$1,145$698$278
38 years$4,253$2,751$1,725$1,055$633$245
39 years$4,098$2,616$1,616$973$574$215
40 years$3,951$2,489$1,515$897$521$189
41 years$3,812$2,369$1,421$828$472$166
42 years$3,679$2,257$1,332$764$429$146
43 years$3,554$2,150$1,250$705$389$129
44 years$3,434$2,049$1,174$651$353$113
45 years$3,320$1,954$1,102$601$321$100
46 years$3,211$1,864$1,035$555$291$88
47 years$3,107$1,779$972$513$264$77
48 years$3,007$1,698$914$474$240$68
49 years$2,913$1,622$859$438$218$60
50 years$2,822$1,549$808$405$198$53

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 $6,728 every year, while hoping to spend $30,082 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: 61/21/18 Blend
52$2,890,000$2,890,000$2,890,000$2,890,000
53$3,191,720$3,038,550$2,993,755$3,371,283
54$3,485,268$3,155,432$3,062,039$3,610,122
55$3,807,750$3,277,033$3,131,602$3,866,708
56$4,162,086$3,403,552$3,202,455$4,146,033
57$4,551,491$3,535,198$3,274,610$4,450,306
58$4,979,508$3,672,189$3,348,074$4,781,960
59$5,450,042$3,814,750$3,422,859$5,143,669
60$5,967,393$3,963,119$3,498,972$5,538,378
61$6,536,300$4,117,545$3,576,420$5,969,330
62$7,161,982$4,278,284$3,655,209$6,440,091
63$7,850,192$4,445,607$3,735,346$6,954,588
64$8,607,266$4,619,797$3,816,835$7,517,145
65$9,440,187$4,801,147$3,899,679$8,132,520
66$10,356,648$4,989,965$3,983,880$8,805,953
67$11,365,125$5,186,572$4,069,439$9,543,214
68$12,474,957$5,391,304$4,156,355$10,350,654
69$13,696,437$5,604,512$4,244,627$11,235,267
70$15,040,901$5,826,561$4,334,250$12,204,757
71$16,520,846$6,057,835$4,425,219$13,267,606
72$18,150,036$6,298,732$4,517,528$14,433,154
73$19,943,642$6,549,672$4,611,167$15,711,689
74$21,918,378$6,811,091$4,706,126$17,114,542
75$24,092,662$7,083,444$4,802,391$18,654,191
76$26,486,789$7,367,209$4,899,947$20,344,383
77$29,123,123$7,662,883$4,998,777$22,200,255
78$32,026,306$7,970,988$5,098,860$24,238,485
79$35,223,490$8,292,068$5,200,173$26,477,441
80$38,744,598$8,626,692$5,302,691$28,937,358
81$42,622,601$8,975,454$5,406,385$31,640,525
82$46,893,831$9,338,976$5,511,224$34,611,498
83$51,598,324$9,717,908$5,617,172$37,877,325
84$56,780,197$10,112,929$5,724,191$41,467,806
85$62,488,065$10,524,750$5,832,238$45,415,770
86$68,775,497$10,954,113$5,941,269$49,757,382
87$75,701,528$11,401,795$6,051,231$54,532,489
88$83,331,209$11,868,607$6,162,072$59,784,987
89$91,736,223$12,355,399$6,273,732$65,563,240
90$100,995,563$12,863,059$6,386,148$71,920,533
91$111,196,276$13,392,515$6,499,250$78,915,573
92$122,434,286$13,944,738$6,612,964$86,613,041
93$134,815,297$14,520,744$6,727,212$95,084,203
94$148,455,791$15,121,594$6,841,908$104,407,580
95$163,484,130$15,748,400$6,956,960$114,669,686
96$180,041,763$16,402,324$7,072,270$125,965,844
97$198,284,566$17,084,581$7,187,734$138,401,087
98$218,384,309$17,796,443$7,303,240$152,091,140
99$240,530,280$18,539,239$7,418,670$167,163,519
100$264,931,068$19,314,362$7,533,895$183,758,724