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

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$239,479$237,346$235,265$233,234$231,250$229,986
2 years$118,554$116,346$114,206$112,132$110,119$108,843
3 years$78,251$76,033$73,899$71,844$69,864$68,616
4 years$58,103$55,893$53,780$51,759$49,828$48,617
5 years$46,018$43,821$41,735$39,756$37,878$36,709
6 years$37,964$35,783$33,728$31,793$29,972$28,845
7 years$32,213$30,050$28,028$26,139$24,375$23,292
8 years$27,902$25,759$23,770$21,927$20,221$19,182
9 years$24,550$22,428$20,473$18,677$17,029$16,033
10 years$21,871$19,769$17,849$16,100$14,510$13,556
11 years$19,680$17,599$15,714$14,012$12,479$11,567
12 years$17,855$15,796$13,946$12,290$10,814$9,943
13 years$16,313$14,275$12,460$10,850$9,430$8,600
14 years$14,992$12,975$11,195$9,632$8,266$7,476
15 years$13,848$11,853$10,108$8,590$7,278$6,526
16 years$12,848$10,875$9,164$7,691$6,433$5,718
17 years$11,967$10,016$8,339$6,911$5,704$5,025
18 years$11,184$9,255$7,612$6,228$5,071$4,428
19 years$10,485$8,577$6,969$5,627$4,520$3,911
20 years$9,856$7,970$6,396$5,097$4,038$3,461
21 years$9,288$7,424$5,883$4,626$3,613$3,068
22 years$8,772$6,930$5,422$4,206$3,239$2,724
23 years$8,302$6,482$5,006$3,830$2,907$2,421
24 years$7,872$6,073$4,630$3,493$2,613$2,155
25 years$7,477$5,699$4,288$3,190$2,351$1,920
26 years$7,112$5,356$3,977$2,917$2,118$1,712
27 years$6,776$5,041$3,693$2,670$1,910$1,528
28 years$6,463$4,750$3,433$2,446$1,723$1,365
29 years$6,173$4,481$3,195$2,243$1,556$1,220
30 years$5,903$4,232$2,976$2,059$1,406$1,091
31 years$5,651$4,001$2,774$1,891$1,271$976
32 years$5,415$3,785$2,588$1,738$1,150$874
33 years$5,193$3,585$2,417$1,598$1,040$782
34 years$4,986$3,398$2,258$1,470$942$701
35 years$4,790$3,223$2,111$1,354$853$628
36 years$4,606$3,059$1,975$1,247$773$563
37 years$4,432$2,905$1,849$1,149$701$504
38 years$4,268$2,761$1,731$1,059$635$452
39 years$4,112$2,625$1,622$976$576$406
40 years$3,965$2,498$1,520$900$522$364
41 years$3,825$2,378$1,425$831$474$327
42 years$3,692$2,264$1,337$767$430$293
43 years$3,566$2,157$1,255$708$390$263
44 years$3,446$2,056$1,178$653$354$236
45 years$3,331$1,961$1,106$603$322$212
46 years$3,222$1,871$1,039$557$292$190
47 years$3,118$1,785$976$515$265$171
48 years$3,018$1,704$917$476$241$153
49 years$2,923$1,628$862$440$219$138
50 years$2,831$1,555$810$406$199$124

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 $2,859 every year, while hoping to spend $45,790 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: 73/21/6 Blend
52$2,900,000$2,900,000$2,900,000$2,900,000
53$3,198,749$3,045,049$3,000,099$3,429,840
54$3,476,301$3,145,536$3,051,882$3,682,950
55$3,780,629$3,249,413$3,103,865$3,954,009
56$4,114,415$3,356,796$3,156,007$4,249,553
57$4,480,615$3,467,808$3,208,262$4,571,982
58$4,882,482$3,582,576$3,260,584$4,923,941
59$5,323,603$3,701,229$3,312,921$5,308,340
60$5,807,926$3,823,905$3,365,219$5,728,381
61$6,339,801$3,950,743$3,417,421$6,187,592
62$6,924,021$4,081,889$3,469,464$6,689,856
63$7,565,864$4,217,495$3,521,285$7,239,450
64$8,271,147$4,357,717$3,572,812$7,841,082
65$9,046,275$4,502,716$3,623,973$8,499,938
66$9,898,308$4,652,662$3,674,689$9,221,728
67$10,835,022$4,807,729$3,724,877$10,012,742
68$11,864,984$4,968,097$3,774,450$10,879,906
69$12,997,633$5,133,955$3,823,315$11,830,849
70$14,243,368$5,305,495$3,871,372$12,873,974
71$15,613,647$5,482,920$3,918,519$14,018,536
72$17,121,095$5,666,439$3,964,645$15,274,731
73$18,779,620$5,856,268$4,009,635$16,653,788
74$20,604,549$6,052,632$4,053,364$18,168,079
75$22,612,766$6,255,765$4,095,706$19,831,230
76$24,822,878$6,465,907$4,136,522$21,658,256
77$27,255,385$6,683,311$4,175,669$23,665,693
78$29,932,877$6,908,234$4,212,996$25,871,763
79$32,880,241$7,140,949$4,248,342$28,296,536
80$36,124,904$7,381,734$4,281,540$30,962,129
81$39,697,086$7,630,881$4,312,413$33,892,903
82$43,630,085$7,888,690$4,340,775$37,115,702
83$47,960,592$8,155,474$4,366,430$40,660,100
84$52,729,039$8,431,559$4,389,171$44,558,681
85$57,979,975$8,717,280$4,408,783$48,847,345
86$63,762,494$9,012,988$4,425,038$53,565,647
87$70,130,689$9,319,045$4,437,698$58,757,171
88$77,144,169$9,635,828$4,446,510$64,469,936
89$84,868,619$9,963,728$4,451,213$70,756,854
90$93,376,418$10,303,151$4,451,529$77,676,224
91$102,747,326$10,654,518$4,447,169$85,292,283
92$113,069,232$11,018,268$4,437,827$93,675,814
93$124,438,985$11,394,855$4,423,186$102,904,809
94$136,963,309$11,784,750$4,402,910$113,065,205
95$150,759,807$12,188,443$4,376,648$124,251,698
96$165,958,075$12,606,445$4,344,033$136,568,630
97$182,700,920$13,039,282$4,304,680$150,130,979
98$201,145,712$13,487,505$4,258,185$165,065,437
99$221,465,865$13,951,683$4,204,125$181,511,610
100$243,852,478$14,432,410$4,142,058$199,623,333