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%12.6%
1 years$238,653$236,528$234,454$232,429$230,453$227,951
2 years$118,145$115,945$113,812$111,745$109,739$107,221
3 years$77,981$75,771$73,644$71,596$69,623$67,165
4 years$57,903$55,700$53,594$51,581$49,656$47,278
5 years$45,859$43,669$41,591$39,619$37,748$35,457
6 years$37,833$35,659$33,612$31,684$29,868$27,667
7 years$32,102$29,947$27,932$26,049$24,291$22,180
8 years$27,805$25,670$23,688$21,852$20,152$18,131
9 years$24,466$22,350$20,403$18,613$16,971$15,040
10 years$21,795$19,701$17,788$16,044$14,460$12,618
11 years$19,612$17,538$15,660$13,964$12,436$10,681
12 years$17,794$15,741$13,898$12,248$10,777$9,107
13 years$16,257$14,226$12,417$10,813$9,398$7,810
14 years$14,940$12,931$11,156$9,599$8,238$6,732
15 years$13,800$11,812$10,073$8,560$7,253$5,826
16 years$12,804$10,838$9,132$7,665$6,410$5,059
17 years$11,925$9,981$8,310$6,887$5,684$4,406
18 years$11,146$9,223$7,586$6,206$5,054$3,847
19 years$10,449$8,548$6,945$5,608$4,505$3,366
20 years$9,822$7,943$6,374$5,079$4,024$2,951
21 years$9,256$7,399$5,862$4,610$3,601$2,591
22 years$8,742$6,906$5,403$4,191$3,228$2,278
23 years$8,274$6,459$4,989$3,817$2,897$2,005
24 years$7,845$6,052$4,614$3,481$2,604$1,767
25 years$7,451$5,679$4,273$3,179$2,343$1,558
26 years$7,088$5,338$3,963$2,907$2,111$1,376
27 years$6,752$5,024$3,680$2,661$1,903$1,215
28 years$6,441$4,734$3,421$2,438$1,717$1,074
29 years$6,152$4,466$3,184$2,236$1,551$950
30 years$5,883$4,217$2,966$2,052$1,401$841
31 years$5,631$3,987$2,765$1,884$1,267$744
32 years$5,396$3,772$2,580$1,732$1,146$659
33 years$5,176$3,572$2,409$1,593$1,037$584
34 years$4,968$3,386$2,250$1,465$939$517
35 years$4,774$3,211$2,104$1,349$850$458
36 years$4,590$3,048$1,968$1,242$770$406
37 years$4,417$2,895$1,842$1,145$698$360
38 years$4,253$2,751$1,725$1,055$633$320
39 years$4,098$2,616$1,616$973$574$283
40 years$3,951$2,489$1,515$897$521$251
41 years$3,812$2,369$1,421$828$472$223
42 years$3,679$2,257$1,332$764$429$198
43 years$3,554$2,150$1,250$705$389$176
44 years$3,434$2,049$1,174$651$353$156
45 years$3,320$1,954$1,102$601$321$138
46 years$3,211$1,864$1,035$555$291$123
47 years$3,107$1,779$972$513$264$109
48 years$3,007$1,698$914$474$240$97
49 years$2,913$1,622$859$438$218$86
50 years$2,822$1,549$808$405$198$76

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 $6,802 every year, while hoping to spend $28,251 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: 32/39/29 Blend
52$2,890,000$2,890,000$2,890,000$2,890,000
53$3,191,796$3,038,626$2,993,831$3,265,552
54$3,487,301$3,157,460$3,064,066$3,441,704
55$3,812,000$3,281,170$3,135,706$3,628,347
56$4,168,841$3,409,965$3,208,770$3,828,833
57$4,561,073$3,544,063$3,283,274$4,044,403
58$4,992,274$3,683,693$3,359,235$4,276,416
59$5,466,385$3,829,094$3,436,668$4,526,365
60$5,987,749$3,980,513$3,515,590$4,795,888
61$6,561,153$4,138,211$3,596,015$5,086,783
62$7,191,867$4,302,459$3,677,958$5,401,026
63$7,885,700$4,473,543$3,761,433$5,740,785
64$8,649,053$4,651,758$3,846,452$6,108,441
65$9,488,976$4,837,414$3,933,028$6,506,613
66$10,413,240$5,030,835$4,021,173$6,938,176
67$11,430,405$5,232,361$4,110,897$7,406,292
68$12,549,904$5,442,344$4,202,209$7,914,433
69$13,782,130$5,661,155$4,295,119$8,466,419
70$15,138,535$5,889,179$4,389,634$9,066,449
71$16,631,738$6,126,822$4,485,759$9,719,140
72$18,275,644$6,374,505$4,583,501$10,429,570
73$20,085,574$6,632,670$4,682,862$11,203,323
74$22,078,410$6,901,778$4,783,845$12,046,542
75$24,272,754$7,182,311$4,886,450$12,965,985
76$26,689,105$7,474,775$4,990,677$13,969,087
77$29,350,051$7,779,696$5,096,521$15,064,028
78$32,280,481$8,097,626$5,203,980$16,259,808
79$35,507,822$8,429,141$5,313,044$17,566,335
80$39,062,295$8,774,844$5,423,707$18,994,509
81$42,977,204$9,135,367$5,535,956$20,556,329
82$47,289,246$9,511,367$5,649,778$22,265,001
83$52,038,860$9,903,535$5,765,157$24,135,064
84$57,270,607$10,312,591$5,882,073$26,182,521
85$63,033,592$10,739,291$6,000,505$28,424,991
86$69,381,925$11,184,423$6,120,428$30,881,870
87$76,375,233$11,648,811$6,241,814$33,574,514
88$84,079,223$12,133,320$6,364,632$36,526,439
89$92,566,303$12,638,851$6,488,846$39,763,536
90$101,916,261$13,166,350$6,614,417$43,314,319
91$112,217,023$13,716,805$6,741,304$47,210,184
92$123,565,480$14,291,249$6,869,458$51,485,707
93$136,068,403$14,890,764$6,998,829$56,178,969
94$149,843,450$15,516,481$7,129,359$61,331,906
95$165,020,278$16,169,585$7,260,989$66,990,706
96$181,741,765$16,851,313$7,393,651$73,206,242
97$200,165,361$17,562,963$7,527,274$80,034,545
98$220,464,571$18,305,891$7,661,781$87,537,332
99$242,830,594$19,081,517$7,797,087$95,782,583
100$267,474,128$19,891,325$7,933,103$104,845,181