Can I retire at age 53 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$240,305$238,165$236,076$234,038$232,047$224,890
2 years$118,963$116,747$114,600$112,518$110,499$103,350
3 years$78,521$76,296$74,154$72,091$70,105$63,189
4 years$58,304$56,085$53,965$51,938$49,999$43,370
5 years$46,177$43,972$41,879$39,893$38,009$31,684
6 years$38,095$35,906$33,845$31,903$30,075$24,060
7 years$32,324$30,154$28,125$26,229$24,459$18,753
8 years$27,998$25,847$23,852$22,003$20,291$14,890
9 years$24,635$22,505$20,544$18,742$17,088$11,987
10 years$21,946$19,837$17,911$16,156$14,560$9,751
11 years$19,748$17,660$15,768$14,060$12,522$7,997
12 years$17,917$15,850$13,994$12,333$10,851$6,600
13 years$16,369$14,324$12,503$10,888$9,463$5,476
14 years$15,044$13,020$11,234$9,665$8,295$4,562
15 years$13,896$11,894$10,142$8,620$7,303$3,813
16 years$12,892$10,913$9,196$7,718$6,455$3,197
17 years$12,008$10,050$8,368$6,934$5,723$2,686
18 years$11,223$9,287$7,639$6,249$5,089$2,261
19 years$10,521$8,607$6,993$5,647$4,536$1,906
20 years$9,890$7,998$6,418$5,114$4,051$1,609
21 years$9,320$7,450$5,903$4,641$3,626$1,360
22 years$8,803$6,954$5,441$4,220$3,250$1,151
23 years$8,331$6,504$5,023$3,843$2,917$974
24 years$7,899$6,094$4,646$3,505$2,622$825
25 years$7,502$5,719$4,303$3,201$2,359$700
26 years$7,137$5,375$3,991$2,927$2,125$593
27 years$6,799$5,058$3,706$2,679$1,916$503
28 years$6,486$4,766$3,445$2,455$1,729$427
29 years$6,195$4,497$3,206$2,251$1,561$363
30 years$5,924$4,246$2,986$2,066$1,411$308
31 years$5,670$4,014$2,784$1,897$1,275$262
32 years$5,433$3,798$2,597$1,744$1,154$222
33 years$5,211$3,597$2,425$1,604$1,044$189
34 years$5,003$3,409$2,266$1,475$945$160
35 years$4,807$3,234$2,119$1,358$856$136
36 years$4,622$3,069$1,982$1,251$776$116
37 years$4,447$2,915$1,855$1,152$703$99
38 years$4,282$2,770$1,737$1,062$637$84
39 years$4,126$2,634$1,627$979$578$71
40 years$3,978$2,506$1,525$903$524$61
41 years$3,838$2,386$1,430$834$476$51
42 years$3,705$2,272$1,342$769$432$44
43 years$3,578$2,165$1,259$710$392$37
44 years$3,457$2,064$1,182$656$356$32
45 years$3,343$1,968$1,110$606$323$27
46 years$3,233$1,877$1,042$559$293$23
47 years$3,128$1,791$979$517$266$19
48 years$3,028$1,710$920$477$242$17
49 years$2,933$1,633$865$441$219$14
50 years$2,841$1,560$813$408$199$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,910,000, adding $6,000 every year, while hoping to spend $35,671 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: 42/31/27 Blend
52$2,910,000$2,910,000$2,910,000$2,910,000
53$3,213,009$3,058,779$3,013,674$3,322,329
54$3,502,782$3,170,706$3,076,678$3,513,387
55$3,820,917$3,286,921$3,140,598$3,716,341
56$4,170,268$3,407,598$3,205,426$3,935,450
57$4,553,981$3,532,915$3,271,153$4,172,226
58$4,975,520$3,663,062$3,337,770$4,428,331
59$5,438,703$3,798,232$3,405,265$4,705,591
60$5,947,735$3,938,629$3,473,625$5,006,017
61$6,507,248$4,084,466$3,542,836$5,331,816
62$7,122,346$4,235,963$3,612,879$5,685,418
63$7,798,651$4,393,351$3,683,737$6,069,495
64$8,542,359$4,556,871$3,755,388$6,486,988
65$9,360,295$4,726,773$3,827,809$6,941,130
66$10,259,979$4,903,319$3,900,974$7,435,480
67$11,249,696$5,086,781$3,974,856$7,973,953
68$12,338,575$5,277,443$4,049,424$8,560,860
69$13,536,675$5,475,603$4,124,644$9,200,941
70$14,855,076$5,681,568$4,200,480$9,899,417
71$16,305,991$5,895,662$4,276,894$10,662,034
72$17,902,874$6,118,221$4,353,841$11,495,117
73$19,660,549$6,349,596$4,431,277$12,405,628
74$21,595,352$6,590,153$4,509,152$13,401,235
75$23,725,282$6,840,275$4,587,412$14,490,376
76$26,070,172$7,100,359$4,666,002$15,682,345
77$28,651,875$7,370,822$4,744,858$16,987,376
78$31,494,472$7,652,098$4,823,917$18,416,736
79$34,624,497$7,944,640$4,903,107$19,982,835
80$38,071,189$8,248,921$4,982,354$21,699,338
81$41,866,766$8,565,433$5,061,579$23,581,297
82$46,046,729$8,894,693$5,140,695$25,645,285
83$50,650,200$9,237,237$5,219,613$27,909,560
84$55,720,286$9,593,627$5,298,235$30,394,230
85$61,304,489$9,964,449$5,376,460$33,121,441
86$67,455,154$10,350,314$5,454,179$36,115,592
87$74,229,962$10,751,862$5,531,276$39,403,552
88$81,692,473$11,169,758$5,607,628$43,014,926
89$89,912,728$11,604,699$5,683,107$46,982,319
90$98,967,909$12,057,413$5,757,574$51,341,655
91$108,943,068$12,528,658$5,830,885$56,132,503
92$119,931,927$13,019,227$5,902,885$61,398,459
93$132,037,764$13,529,950$5,973,412$67,187,547
94$145,374,388$14,061,691$6,042,295$73,552,677
95$160,067,216$14,615,353$6,109,351$80,552,140
96$176,254,447$15,191,881$6,174,390$88,250,154
97$194,088,378$15,792,260$6,237,209$96,717,472
98$213,736,833$16,417,522$6,297,596$106,032,047
99$235,384,751$17,068,741$6,355,327$116,279,763
100$259,235,930$17,747,044$6,410,164$127,555,245