Can I retire at age 53 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$239,479$237,346$235,265$233,234$231,250$226,304
2 years$118,554$116,346$114,206$112,132$110,119$105,160
3 years$78,251$76,033$73,899$71,844$69,864$65,046
4 years$58,103$55,893$53,780$51,759$49,828$45,189
5 years$46,018$43,821$41,735$39,756$37,878$33,432
6 years$37,964$35,783$33,728$31,793$29,972$25,722
7 years$32,213$30,050$28,028$26,139$24,375$20,323
8 years$27,902$25,759$23,770$21,927$20,221$16,366
9 years$24,550$22,428$20,473$18,677$17,029$13,367
10 years$21,871$19,769$17,849$16,100$14,510$11,038
11 years$19,680$17,599$15,714$14,012$12,479$9,192
12 years$17,855$15,796$13,946$12,290$10,814$7,707
13 years$16,313$14,275$12,460$10,850$9,430$6,498
14 years$14,992$12,975$11,195$9,632$8,266$5,504
15 years$13,848$11,853$10,108$8,590$7,278$4,679
16 years$12,848$10,875$9,164$7,691$6,433$3,990
17 years$11,967$10,016$8,339$6,911$5,704$3,411
18 years$11,184$9,255$7,612$6,228$5,071$2,923
19 years$10,485$8,577$6,969$5,627$4,520$2,509
20 years$9,856$7,970$6,396$5,097$4,038$2,157
21 years$9,288$7,424$5,883$4,626$3,613$1,857
22 years$8,772$6,930$5,422$4,206$3,239$1,601
23 years$8,302$6,482$5,006$3,830$2,907$1,381
24 years$7,872$6,073$4,630$3,493$2,613$1,193
25 years$7,477$5,699$4,288$3,190$2,351$1,030
26 years$7,112$5,356$3,977$2,917$2,118$891
27 years$6,776$5,041$3,693$2,670$1,910$771
28 years$6,463$4,750$3,433$2,446$1,723$667
29 years$6,173$4,481$3,195$2,243$1,556$578
30 years$5,903$4,232$2,976$2,059$1,406$500
31 years$5,651$4,001$2,774$1,891$1,271$433
32 years$5,415$3,785$2,588$1,738$1,150$376
33 years$5,193$3,585$2,417$1,598$1,040$326
34 years$4,986$3,398$2,258$1,470$942$282
35 years$4,790$3,223$2,111$1,354$853$245
36 years$4,606$3,059$1,975$1,247$773$212
37 years$4,432$2,905$1,849$1,149$701$184
38 years$4,268$2,761$1,731$1,059$635$160
39 years$4,112$2,625$1,622$976$576$139
40 years$3,965$2,498$1,520$900$522$120
41 years$3,825$2,378$1,425$831$474$104
42 years$3,692$2,264$1,337$767$430$91
43 years$3,566$2,157$1,255$708$390$79
44 years$3,446$2,056$1,178$653$354$68
45 years$3,331$1,961$1,106$603$322$59
46 years$3,222$1,871$1,039$557$292$51
47 years$3,118$1,785$976$515$265$45
48 years$3,018$1,704$917$476$241$39
49 years$2,923$1,628$862$440$219$34
50 years$2,831$1,555$810$406$199$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,900,000, adding $5,361 every year, while hoping to spend $49,889 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: 43/31/26 Blend
52$2,900,000$2,900,000$2,900,000$2,900,000
53$3,201,330$3,047,630$3,002,680$3,314,516
54$3,474,784$3,143,882$3,050,188$3,492,133
55$3,774,458$3,243,179$3,097,616$3,679,285
56$4,102,975$3,345,616$3,144,908$3,881,092
57$4,463,221$3,451,294$3,192,005$4,098,939
58$4,858,377$3,560,315$3,238,844$4,334,351
59$5,291,946$3,672,785$3,285,360$4,589,004
60$5,767,787$3,788,814$3,331,482$4,864,743
61$6,290,149$3,908,514$3,377,135$5,163,598
62$6,863,714$4,032,001$3,422,239$5,487,806
63$7,493,641$4,159,397$3,466,712$5,839,826
64$8,185,609$4,290,824$3,510,464$6,222,367
65$8,945,879$4,426,412$3,553,401$6,638,413
66$9,781,344$4,566,291$3,595,425$7,091,245
67$10,699,600$4,710,599$3,636,432$7,584,480
68$11,709,016$4,859,475$3,676,309$8,122,100
69$12,818,811$5,013,065$3,714,941$8,708,490
70$14,039,143$5,171,518$3,752,205$9,348,477
71$15,381,203$5,334,990$3,787,970$10,047,381
72$16,857,319$5,503,638$3,822,101$10,811,060
73$18,481,077$5,677,628$3,854,453$11,645,965
74$20,267,445$5,857,129$3,884,875$12,559,204
75$22,232,913$6,042,317$3,913,207$13,558,606
76$24,395,651$6,233,372$3,939,280$14,652,794
77$26,775,681$6,430,480$3,962,920$15,851,268
78$29,395,061$6,633,835$3,983,938$17,164,496
79$32,278,099$6,843,634$4,002,141$18,604,007
80$35,451,575$7,060,083$4,017,324$20,182,503
81$38,945,001$7,283,392$4,029,270$21,913,979
82$42,790,894$7,513,781$4,037,753$23,813,856
83$47,025,083$7,751,474$4,042,535$25,899,119
84$51,687,049$7,996,704$4,043,368$28,188,487
85$56,820,297$8,249,711$4,039,989$30,702,582
86$62,472,762$8,510,741$4,032,123$33,464,126
87$68,697,267$8,780,052$4,019,483$36,498,157
88$75,552,019$9,057,905$4,001,767$39,832,259
89$83,101,156$9,344,573$3,978,657$43,496,830
90$91,415,355$9,640,338$3,949,823$47,525,363
91$100,572,494$9,945,488$3,914,915$51,954,764
92$110,658,395$10,260,323$3,873,571$56,825,697
93$121,767,623$10,585,151$3,825,408$62,182,973
94$134,004,389$10,920,291$3,770,027$68,075,969
95$147,483,523$11,266,072$3,707,009$74,559,094
96$162,331,565$11,622,832$3,635,917$81,692,304
97$178,687,957$11,990,923$3,556,292$89,541,663
98$196,706,355$12,370,705$3,467,654$98,179,975
99$216,556,085$12,762,552$3,369,503$107,687,462
100$238,423,737$13,166,848$3,261,312$118,152,526