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%15.1%
1 years$241,957$239,801$237,699$235,646$233,642$228,738
2 years$119,781$117,550$115,388$113,292$111,258$106,340
3 years$79,060$76,820$74,664$72,587$70,587$65,809
4 years$58,704$56,471$54,336$52,295$50,343$45,742
5 years$46,494$44,274$42,167$40,167$38,270$33,858
6 years$38,356$36,153$34,077$32,122$30,282$26,064
7 years$32,546$30,361$28,318$26,409$24,627$20,605
8 years$28,190$26,025$24,016$22,154$20,431$16,603
9 years$24,804$22,660$20,685$18,870$17,206$13,569
10 years$22,097$19,973$18,034$16,267$14,660$11,211
11 years$19,884$17,781$15,877$14,157$12,608$9,342
12 years$18,040$15,959$14,090$12,417$10,926$7,839
13 years$16,482$14,423$12,589$10,963$9,528$6,613
14 years$15,147$13,110$11,311$9,731$8,352$5,605
15 years$13,991$11,976$10,212$8,679$7,354$4,768
16 years$12,981$10,988$9,259$7,771$6,499$4,069
17 years$12,091$10,119$8,425$6,982$5,763$3,481
18 years$11,300$9,351$7,691$6,292$5,124$2,985
19 years$10,593$8,666$7,041$5,686$4,567$2,564
20 years$9,958$8,053$6,462$5,149$4,079$2,206
21 years$9,384$7,501$5,944$4,673$3,651$1,901
22 years$8,863$7,002$5,478$4,249$3,272$1,640
23 years$8,388$6,549$5,058$3,870$2,937$1,416
24 years$7,953$6,136$4,678$3,530$2,640$1,224
25 years$7,554$5,758$4,332$3,223$2,376$1,058
26 years$7,186$5,412$4,018$2,947$2,140$916
27 years$6,846$5,093$3,731$2,698$1,929$793
28 years$6,530$4,799$3,469$2,472$1,741$687
29 years$6,237$4,527$3,228$2,267$1,572$595
30 years$5,964$4,276$3,007$2,080$1,420$516
31 years$5,709$4,042$2,803$1,910$1,284$447
32 years$5,471$3,824$2,615$1,756$1,162$388
33 years$5,247$3,622$2,442$1,615$1,051$337
34 years$5,037$3,433$2,282$1,486$952$292
35 years$4,840$3,256$2,133$1,368$862$253
36 years$4,654$3,090$1,995$1,259$781$220
37 years$4,478$2,935$1,868$1,160$708$191
38 years$4,312$2,789$1,749$1,070$642$166
39 years$4,155$2,652$1,639$986$582$144
40 years$4,006$2,524$1,536$910$528$125
41 years$3,865$2,402$1,440$839$479$109
42 years$3,730$2,288$1,351$775$435$94
43 years$3,603$2,180$1,268$715$394$82
44 years$3,481$2,078$1,190$660$358$71
45 years$3,366$1,981$1,117$610$325$62
46 years$3,255$1,890$1,049$563$295$54
47 years$3,150$1,804$986$520$268$47
48 years$3,049$1,722$926$481$243$40
49 years$2,953$1,644$871$444$221$35
50 years$2,861$1,571$819$411$201$31

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 $2,806 every year, while hoping to spend $27,080 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: 65/16/19 Blend
52$2,930,000$2,930,000$2,930,000$2,930,000
53$3,231,754$3,076,464$3,031,049$3,426,218
54$3,532,580$3,198,398$3,103,777$3,678,999
55$3,863,183$3,325,399$3,178,033$3,951,780
56$4,226,571$3,457,687$3,253,840$4,249,239
57$4,626,059$3,595,491$3,331,221$4,573,794
58$5,065,298$3,739,052$3,410,199$4,928,105
59$5,548,313$3,888,619$3,490,794$5,315,101
60$6,079,535$4,044,456$3,573,030$5,738,004
61$6,663,848$4,206,835$3,656,928$6,200,364
62$7,306,634$4,376,043$3,742,508$6,706,088
63$8,013,821$4,552,380$3,829,792$7,259,475
64$8,791,941$4,736,156$3,918,800$7,865,262
65$9,648,192$4,927,701$4,009,553$8,528,663
66$10,590,503$5,127,354$4,102,069$9,255,421
67$11,627,614$5,335,474$4,196,367$10,051,857
68$12,769,151$5,552,433$4,292,466$10,924,934
69$14,025,724$5,778,622$4,390,384$11,882,321
70$15,409,023$6,014,449$4,490,136$12,932,463
71$16,931,927$6,260,340$4,591,739$14,084,662
72$18,608,629$6,516,743$4,695,209$15,349,160
73$20,454,769$6,784,124$4,800,558$16,737,242
74$22,487,580$7,062,969$4,907,801$18,261,336
75$24,726,049$7,353,791$5,016,948$19,935,131
76$27,191,101$7,657,122$5,128,011$21,773,708
77$29,905,793$7,973,521$5,240,999$23,793,678
78$32,895,532$8,303,571$5,355,920$26,013,339
79$36,188,313$8,647,883$5,472,781$28,452,849
80$39,814,987$9,007,095$5,591,585$31,134,413
81$43,809,549$9,381,876$5,712,336$34,082,496
82$48,209,460$9,772,925$5,835,036$37,324,049
83$53,055,999$10,180,972$5,959,684$40,888,761
84$58,394,653$10,606,782$6,086,276$44,809,345
85$64,275,549$11,051,156$6,214,807$49,121,839
86$70,753,922$11,514,930$6,345,271$53,865,947
87$77,890,641$11,998,980$6,477,656$59,085,415
88$85,752,780$12,504,224$6,611,951$64,828,439
89$94,414,252$13,031,619$6,748,139$71,148,122
90$103,956,506$13,582,168$6,886,203$78,102,970
91$114,469,298$14,156,923$7,026,119$85,757,448
92$126,051,536$14,756,982$7,167,863$94,182,582
93$138,812,213$15,383,494$7,311,407$103,456,633
94$152,871,436$16,037,663$7,456,717$113,665,829
95$168,361,562$16,720,748$7,603,756$124,905,182
96$185,428,444$17,434,068$7,752,485$137,279,379
97$204,232,809$18,179,001$7,902,857$150,903,771
98$224,951,776$18,956,991$8,054,822$165,905,463
99$247,780,524$19,769,551$8,208,326$182,424,504
100$272,934,140$20,618,262$8,363,308$200,615,215