Can I retire at age 53 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$241,957$239,801$237,699$235,646$233,642$228,551
2 years$119,781$117,550$115,388$113,292$111,258$106,155
3 years$79,060$76,820$74,664$72,587$70,587$65,630
4 years$58,704$56,471$54,336$52,295$50,343$45,572
5 years$46,494$44,274$42,167$40,167$38,270$33,697
6 years$38,356$36,153$34,077$32,122$30,282$25,912
7 years$32,546$30,361$28,318$26,409$24,627$20,462
8 years$28,190$26,025$24,016$22,154$20,431$16,468
9 years$24,804$22,660$20,685$18,870$17,206$13,442
10 years$22,097$19,973$18,034$16,267$14,660$11,093
11 years$19,884$17,781$15,877$14,157$12,608$9,232
12 years$18,040$15,959$14,090$12,417$10,926$7,736
13 years$16,482$14,423$12,589$10,963$9,528$6,518
14 years$15,147$13,110$11,311$9,731$8,352$5,517
15 years$13,991$11,976$10,212$8,679$7,354$4,687
16 years$12,981$10,988$9,259$7,771$6,499$3,994
17 years$12,091$10,119$8,425$6,982$5,763$3,412
18 years$11,300$9,351$7,691$6,292$5,124$2,921
19 years$10,593$8,666$7,041$5,686$4,567$2,506
20 years$9,958$8,053$6,462$5,149$4,079$2,153
21 years$9,384$7,501$5,944$4,673$3,651$1,852
22 years$8,863$7,002$5,478$4,249$3,272$1,595
23 years$8,388$6,549$5,058$3,870$2,937$1,375
24 years$7,953$6,136$4,678$3,530$2,640$1,186
25 years$7,554$5,758$4,332$3,223$2,376$1,024
26 years$7,186$5,412$4,018$2,947$2,140$885
27 years$6,846$5,093$3,731$2,698$1,929$765
28 years$6,530$4,799$3,469$2,472$1,741$662
29 years$6,237$4,527$3,228$2,267$1,572$572
30 years$5,964$4,276$3,007$2,080$1,420$495
31 years$5,709$4,042$2,803$1,910$1,284$429
32 years$5,471$3,824$2,615$1,756$1,162$371
33 years$5,247$3,622$2,442$1,615$1,051$322
34 years$5,037$3,433$2,282$1,486$952$279
35 years$4,840$3,256$2,133$1,368$862$241
36 years$4,654$3,090$1,995$1,259$781$209
37 years$4,478$2,935$1,868$1,160$708$181
38 years$4,312$2,789$1,749$1,070$642$157
39 years$4,155$2,652$1,639$986$582$136
40 years$4,006$2,524$1,536$910$528$118
41 years$3,865$2,402$1,440$839$479$102
42 years$3,730$2,288$1,351$775$435$89
43 years$3,603$2,180$1,268$715$394$77
44 years$3,481$2,078$1,190$660$358$67
45 years$3,366$1,981$1,117$610$325$58
46 years$3,255$1,890$1,049$563$295$50
47 years$3,150$1,804$986$520$268$43
48 years$3,049$1,722$926$481$243$38
49 years$2,953$1,644$871$444$221$33
50 years$2,861$1,571$819$411$201$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,930,000, adding $2,819 every year, while hoping to spend $42,322 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: 56/32/12 Blend
52$2,930,000$2,930,000$2,930,000$2,930,000
53$3,231,768$3,076,478$3,031,063$3,402,790
54$3,516,378$3,182,195$3,087,573$3,624,606
55$3,828,600$3,291,674$3,144,558$3,861,211
56$4,171,205$3,405,054$3,201,989$4,117,934
57$4,547,247$3,522,480$3,259,834$4,396,704
58$4,960,088$3,644,104$3,318,061$4,699,644
59$5,413,433$3,770,082$3,376,632$5,029,088
60$5,911,364$3,900,576$3,435,510$5,387,604
61$6,458,374$4,035,755$3,494,651$5,778,019
62$7,059,417$4,175,796$3,554,010$6,203,440
63$7,719,949$4,320,881$3,613,541$6,667,293
64$8,445,980$4,471,200$3,673,190$7,173,342
65$9,244,131$4,626,951$3,732,904$7,725,734
66$10,121,699$4,788,338$3,792,623$8,329,032
67$11,086,721$4,955,575$3,852,284$8,988,262
68$12,148,052$5,128,884$3,911,822$9,708,954
69$13,315,450$5,308,496$3,971,164$10,497,198
70$14,599,663$5,494,649$4,030,235$11,359,699
71$16,012,536$5,687,595$4,088,955$12,303,841
72$17,567,119$5,887,591$4,147,240$13,337,753
73$19,277,791$6,094,908$4,204,998$14,470,389
74$21,160,394$6,309,827$4,262,133$15,711,607
75$23,232,385$6,532,640$4,318,546$17,072,267
76$25,512,998$6,763,649$4,374,127$18,564,327
77$28,023,428$7,003,172$4,428,765$20,200,958
78$30,787,027$7,251,537$4,482,337$21,996,667
79$33,829,527$7,509,085$4,534,719$23,967,434
80$37,179,282$7,776,174$4,585,775$26,130,860
81$40,867,535$8,053,173$4,635,365$28,506,332
82$44,928,713$8,340,467$4,683,339$31,115,207
83$49,400,751$8,638,459$4,729,540$33,981,010
84$54,325,450$8,947,566$4,773,802$37,129,658
85$59,748,871$9,268,222$4,815,950$40,589,702
86$65,721,772$9,600,881$4,855,800$44,392,592
87$72,300,081$9,946,013$4,893,158$48,572,980
88$79,545,431$10,304,109$4,927,821$53,169,038
89$87,525,735$10,675,681$4,959,573$58,222,823
90$96,315,830$11,061,259$4,988,188$63,780,669
91$105,998,183$11,461,399$5,013,431$69,893,625
92$116,663,667$11,876,677$5,035,050$76,617,933
93$128,412,421$12,307,694$5,052,784$84,015,561
94$141,354,793$12,755,076$5,066,357$92,154,784
95$155,612,383$13,219,476$5,075,481$101,110,826
96$171,319,188$13,701,572$5,079,852$110,966,570
97$188,622,869$14,202,073$5,079,151$121,813,339
98$207,686,143$14,721,715$5,073,043$133,751,757
99$228,688,318$15,261,268$5,061,179$146,892,692
100$251,826,988$15,821,533$5,043,191$161,358,306