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

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$241,957$239,801$237,699$235,646$233,642$229,206
2 years$119,781$117,550$115,388$113,292$111,258$106,806
3 years$79,060$76,820$74,664$72,587$70,587$66,258
4 years$58,704$56,471$54,336$52,295$50,343$46,170
5 years$46,494$44,274$42,167$40,167$38,270$34,265
6 years$38,356$36,153$34,077$32,122$30,282$26,450
7 years$32,546$30,361$28,318$26,409$24,627$20,968
8 years$28,190$26,025$24,016$22,154$20,431$16,944
9 years$24,804$22,660$20,685$18,870$17,206$13,890
10 years$22,097$19,973$18,034$16,267$14,660$11,511
11 years$19,884$17,781$15,877$14,157$12,608$9,623
12 years$18,040$15,959$14,090$12,417$10,926$8,100
13 years$16,482$14,423$12,589$10,963$9,528$6,857
14 years$15,147$13,110$11,311$9,731$8,352$5,831
15 years$13,991$11,976$10,212$8,679$7,354$4,978
16 years$12,981$10,988$9,259$7,771$6,499$4,263
17 years$12,091$10,119$8,425$6,982$5,763$3,660
18 years$11,300$9,351$7,691$6,292$5,124$3,150
19 years$10,593$8,666$7,041$5,686$4,567$2,716
20 years$9,958$8,053$6,462$5,149$4,079$2,346
21 years$9,384$7,501$5,944$4,673$3,651$2,029
22 years$8,863$7,002$5,478$4,249$3,272$1,757
23 years$8,388$6,549$5,058$3,870$2,937$1,523
24 years$7,953$6,136$4,678$3,530$2,640$1,321
25 years$7,554$5,758$4,332$3,223$2,376$1,147
26 years$7,186$5,412$4,018$2,947$2,140$997
27 years$6,846$5,093$3,731$2,698$1,929$866
28 years$6,530$4,799$3,469$2,472$1,741$753
29 years$6,237$4,527$3,228$2,267$1,572$656
30 years$5,964$4,276$3,007$2,080$1,420$571
31 years$5,709$4,042$2,803$1,910$1,284$497
32 years$5,471$3,824$2,615$1,756$1,162$433
33 years$5,247$3,622$2,442$1,615$1,051$377
34 years$5,037$3,433$2,282$1,486$952$329
35 years$4,840$3,256$2,133$1,368$862$286
36 years$4,654$3,090$1,995$1,259$781$250
37 years$4,478$2,935$1,868$1,160$708$218
38 years$4,312$2,789$1,749$1,070$642$190
39 years$4,155$2,652$1,639$986$582$165
40 years$4,006$2,524$1,536$910$528$144
41 years$3,865$2,402$1,440$839$479$126
42 years$3,730$2,288$1,351$775$435$110
43 years$3,603$2,180$1,268$715$394$96
44 years$3,481$2,078$1,190$660$358$83
45 years$3,366$1,981$1,117$610$325$73
46 years$3,255$1,890$1,049$563$295$64
47 years$3,150$1,804$986$520$268$55
48 years$3,049$1,722$926$481$243$48
49 years$2,953$1,644$871$444$221$42
50 years$2,861$1,571$819$411$201$37

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 $4,495 every year, while hoping to spend $55,162 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: 70/21/9 Blend
52$2,930,000$2,930,000$2,930,000$2,930,000
53$3,233,497$3,078,207$3,032,792$3,454,120
54$3,504,621$3,170,347$3,075,698$3,692,918
55$3,801,552$3,265,153$3,118,193$3,946,965
56$4,126,862$3,362,698$3,160,205$4,223,467
57$4,483,388$3,463,055$3,201,657$4,524,620
58$4,874,249$3,566,301$3,242,469$4,852,843
59$5,302,886$3,672,513$3,282,554$5,210,796
60$5,773,084$3,781,770$3,321,824$5,601,411
61$6,289,016$3,894,154$3,360,182$6,027,914
62$6,855,276$4,009,748$3,397,529$6,493,860
63$7,476,925$4,128,636$3,433,757$7,003,160
64$8,159,538$4,250,906$3,468,754$7,560,125
65$8,909,256$4,376,646$3,502,403$8,169,500
66$9,732,845$4,505,947$3,534,579$8,836,514
67$10,637,758$4,638,901$3,565,150$9,566,923
68$11,632,206$4,775,603$3,593,978$10,367,070
69$12,725,233$4,916,149$3,620,919$11,243,939
70$13,926,804$5,060,639$3,645,817$12,205,226
71$15,247,900$5,209,171$3,668,514$13,259,408
72$16,700,614$5,361,850$3,688,838$14,415,821
73$18,298,275$5,518,778$3,706,612$15,684,754
74$20,055,564$5,680,064$3,721,649$17,077,537
75$21,988,659$5,845,814$3,733,751$18,606,657
76$24,115,384$6,016,141$3,742,713$20,285,867
77$26,455,377$6,191,155$3,748,318$22,130,323
78$29,030,276$6,370,973$3,750,337$24,156,720
79$31,863,923$6,555,709$3,748,533$26,383,452
80$34,982,588$6,745,484$3,742,653$28,830,789
81$38,415,216$6,940,416$3,732,436$31,521,060
82$42,193,700$7,140,629$3,717,605$34,478,870
83$46,353,184$7,346,246$3,697,871$37,731,329
84$50,932,391$7,557,394$3,672,932$41,308,308
85$55,973,989$7,774,201$3,642,469$45,242,721
86$61,524,995$7,996,796$3,606,151$49,570,834
87$67,637,216$8,225,310$3,563,628$54,332,607
88$74,367,738$8,459,876$3,514,536$59,572,074
89$81,779,466$8,700,629$3,458,492$65,337,754
90$89,941,717$8,947,705$3,395,097$71,683,109
91$98,930,871$9,201,241$3,323,931$78,667,053
92$108,831,094$9,461,376$3,244,557$86,354,501
93$119,735,132$9,728,250$3,156,516$94,816,985
94$131,745,185$10,002,004$3,059,329$104,133,330
95$144,973,871$10,282,779$2,952,493$114,390,394
96$159,545,289$10,570,719$2,835,485$125,683,891
97$175,596,190$10,865,966$2,707,756$138,119,292
98$193,277,268$11,168,664$2,568,732$151,812,820
99$212,754,579$11,478,959$2,417,814$166,892,548
100$234,211,111$11,796,993$2,254,376$183,499,606