Can I retire at age 53 with 2,920,000?

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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$241,131$238,983$236,887$234,842$232,845$228,050
2 years$119,372$117,149$114,994$112,905$110,879$106,070
3 years$78,791$76,558$74,409$72,339$70,346$65,673
4 years$58,504$56,278$54,150$52,116$50,171$45,671
5 years$46,335$44,123$42,023$40,030$38,139$33,823
6 years$38,225$36,030$33,961$32,013$30,178$26,052
7 years$32,435$30,258$28,222$26,319$24,543$20,607
8 years$28,094$25,936$23,934$22,079$20,361$16,613
9 years$24,720$22,582$20,614$18,806$17,147$13,586
10 years$22,022$19,905$17,972$16,211$14,610$11,232
11 years$19,816$17,720$15,822$14,108$12,565$9,366
12 years$17,979$15,905$14,042$12,375$10,889$7,863
13 years$16,425$14,373$12,546$10,925$9,495$6,639
14 years$15,095$13,065$11,272$9,698$8,323$5,630
15 years$13,944$11,935$10,177$8,649$7,329$4,793
16 years$12,937$10,950$9,227$7,744$6,477$4,093
17 years$12,049$10,085$8,396$6,958$5,743$3,504
18 years$11,261$9,319$7,665$6,271$5,106$3,007
19 years$10,557$8,637$7,017$5,666$4,551$2,585
20 years$9,924$8,025$6,440$5,132$4,065$2,226
21 years$9,352$7,475$5,923$4,657$3,638$1,919
22 years$8,833$6,978$5,459$4,235$3,261$1,657
23 years$8,360$6,526$5,041$3,857$2,927$1,432
24 years$7,926$6,115$4,662$3,517$2,631$1,238
25 years$7,528$5,738$4,318$3,212$2,368$1,072
26 years$7,161$5,393$4,004$2,937$2,133$928
27 years$6,822$5,076$3,718$2,688$1,923$804
28 years$6,508$4,783$3,457$2,463$1,735$697
29 years$6,216$4,512$3,217$2,259$1,567$605
30 years$5,944$4,261$2,996$2,073$1,416$525
31 years$5,690$4,028$2,793$1,904$1,280$455
32 years$5,452$3,811$2,606$1,750$1,158$395
33 years$5,229$3,609$2,434$1,609$1,048$343
34 years$5,020$3,421$2,274$1,480$949$298
35 years$4,823$3,245$2,126$1,363$859$259
36 years$4,638$3,080$1,989$1,255$778$225
37 years$4,463$2,925$1,861$1,156$706$195
38 years$4,297$2,780$1,743$1,066$640$170
39 years$4,140$2,643$1,633$983$580$147
40 years$3,992$2,515$1,531$907$526$128
41 years$3,851$2,394$1,435$836$477$111
42 years$3,718$2,280$1,346$772$433$97
43 years$3,590$2,172$1,263$713$393$84
44 years$3,469$2,071$1,186$658$357$73
45 years$3,354$1,975$1,113$608$324$64
46 years$3,244$1,884$1,046$561$294$55
47 years$3,139$1,798$983$519$267$48
48 years$3,039$1,716$923$479$243$42
49 years$2,943$1,639$868$443$220$36
50 years$2,851$1,565$816$409$200$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,920,000, adding $2,968 every year, while hoping to spend $58,061 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: 41/40/19 Blend
52$2,920,000$2,920,000$2,920,000$2,920,000
53$3,220,901$3,066,141$3,020,881$3,334,809
54$3,487,657$3,154,606$3,060,305$3,504,590
55$3,779,676$3,245,459$3,099,102$3,682,402
56$4,099,473$3,338,757$3,137,193$3,873,657
57$4,449,819$3,434,556$3,174,488$4,079,611
58$4,833,765$3,532,913$3,210,898$4,301,651
59$5,254,670$3,633,887$3,246,324$4,541,298
60$5,716,235$3,737,537$3,280,665$4,800,231
61$6,222,536$3,843,921$3,313,812$5,080,295
62$6,778,061$3,953,100$3,345,652$5,383,520
63$7,387,757$4,065,135$3,376,064$5,712,143
64$8,057,068$4,180,087$3,404,923$6,068,627
65$8,791,996$4,298,018$3,432,095$6,455,682
66$9,599,150$4,418,991$3,457,440$6,876,292
67$10,485,810$4,543,068$3,480,811$7,333,746
68$11,459,997$4,670,313$3,502,052$7,831,664
69$12,530,547$4,800,789$3,521,001$8,374,032
70$13,707,194$4,934,559$3,537,486$8,965,242
71$15,000,663$5,071,688$3,551,328$9,610,131
72$16,422,769$5,212,239$3,562,335$10,314,027
73$17,986,530$5,356,276$3,570,311$11,082,800
74$19,706,285$5,503,863$3,575,046$11,922,915
75$21,597,838$5,655,064$3,576,322$12,841,496
76$23,678,596$5,809,941$3,573,908$13,846,390
77$25,967,742$5,968,557$3,567,562$14,946,242
78$28,486,409$6,130,974$3,557,034$16,150,578
79$31,257,884$6,297,253$3,542,056$17,469,893
80$34,307,825$6,467,455$3,522,350$18,915,751
81$37,664,500$6,641,638$3,497,627$20,500,892
82$41,359,061$6,819,860$3,467,579$22,239,355
83$45,425,830$7,002,177$3,431,887$24,146,608
84$49,902,625$7,188,645$3,390,217$26,239,697
85$54,831,120$7,379,315$3,342,216$28,537,404
86$60,257,232$7,574,239$3,287,517$31,060,424
87$66,231,557$7,773,464$3,225,736$33,831,562
88$72,809,848$7,977,036$3,156,471$36,875,950
89$80,053,539$8,184,997$3,079,299$40,221,280
90$88,030,324$8,397,387$2,993,780$43,898,068
91$96,814,798$8,614,240$2,899,453$47,939,941
92$106,489,159$8,835,589$2,795,835$52,383,957
93$117,143,980$9,061,460$2,682,423$57,270,952
94$128,879,070$9,291,876$2,558,689$62,645,928
95$141,804,412$9,526,854$2,424,081$68,558,476
96$156,041,198$9,766,406$2,278,024$75,063,247
97$171,722,977$10,010,537$2,119,915$82,220,464
98$188,996,913$10,259,246$1,949,125$90,096,496
99$208,025,175$10,512,525$1,764,996$98,764,480
100$228,986,461$10,770,357$1,566,842$108,305,018