Can I retire at age 53 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$243,608$241,438$239,321$237,255$235,237$226,801
2 years$120,598$118,352$116,175$114,065$112,018$103,609
3 years$79,600$77,344$75,173$73,082$71,069$62,953
4 years$59,105$56,856$54,707$52,652$50,687$42,925
5 years$46,811$44,576$42,455$40,442$38,531$31,144
6 years$38,618$36,400$34,310$32,341$30,488$23,482
7 years$32,768$30,568$28,512$26,590$24,795$18,167
8 years$28,383$26,203$24,180$22,305$20,570$14,315
9 years$24,974$22,814$20,826$18,999$17,323$11,433
10 years$22,248$20,110$18,157$16,378$14,760$9,224
11 years$20,019$17,902$15,985$14,253$12,694$7,501
12 years$18,163$16,068$14,186$12,502$11,000$6,138
13 years$16,594$14,521$12,674$11,038$9,593$5,048
14 years$15,250$13,199$11,388$9,798$8,409$4,167
15 years$14,087$12,058$10,282$8,738$7,404$3,452
16 years$13,070$11,063$9,322$7,824$6,544$2,866
17 years$12,173$10,188$8,483$7,030$5,802$2,385
18 years$11,377$9,414$7,744$6,335$5,159$1,989
19 years$10,666$8,725$7,089$5,724$4,598$1,660
20 years$10,026$8,108$6,506$5,185$4,107$1,388
21 years$9,448$7,552$5,984$4,705$3,675$1,161
22 years$8,924$7,050$5,515$4,278$3,295$972
23 years$8,445$6,593$5,092$3,896$2,957$815
24 years$8,008$6,178$4,710$3,554$2,658$683
25 years$7,606$5,797$4,362$3,245$2,392$573
26 years$7,235$5,449$4,046$2,967$2,155$481
27 years$6,892$5,128$3,757$2,716$1,943$404
28 years$6,575$4,832$3,492$2,489$1,753$339
29 years$6,280$4,558$3,250$2,282$1,583$285
30 years$6,005$4,305$3,027$2,094$1,430$239
31 years$5,748$4,070$2,822$1,923$1,293$201
32 years$5,508$3,851$2,633$1,768$1,170$169
33 years$5,283$3,647$2,459$1,626$1,058$142
34 years$5,072$3,456$2,297$1,496$958$119
35 years$4,873$3,278$2,148$1,377$868$100
36 years$4,685$3,111$2,009$1,268$786$84
37 years$4,508$2,955$1,880$1,168$713$71
38 years$4,341$2,808$1,761$1,077$646$60
39 years$4,183$2,671$1,650$993$586$50
40 years$4,033$2,541$1,546$916$531$42
41 years$3,891$2,419$1,450$845$482$35
42 years$3,756$2,303$1,360$780$438$30
43 years$3,627$2,195$1,276$720$397$25
44 years$3,505$2,092$1,198$665$360$21
45 years$3,388$1,995$1,125$614$327$18
46 years$3,277$1,903$1,057$567$297$15
47 years$3,171$1,816$993$524$270$13
48 years$3,070$1,734$933$484$245$11
49 years$2,973$1,656$877$447$223$9
50 years$2,880$1,581$824$414$202$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,950,000, adding $2,553 every year, while hoping to spend $51,069 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: 60/10/30 Blend
52$2,950,000$2,950,000$2,950,000$2,950,000
53$3,253,533$3,097,183$3,051,458$3,422,035
54$3,531,057$3,194,608$3,099,345$3,634,939
55$3,835,176$3,295,096$3,147,125$3,861,508
56$4,168,550$3,398,741$3,194,739$4,107,704
57$4,534,107$3,505,644$3,242,128$4,375,456
58$4,935,072$3,615,907$3,289,225$4,666,886
59$5,374,997$3,729,635$3,335,963$4,984,334
60$5,857,797$3,846,937$3,382,267$5,330,375
61$6,387,780$3,967,925$3,428,061$5,707,847
62$6,969,695$4,092,714$3,473,263$6,119,876
63$7,608,772$4,221,425$3,517,785$6,569,907
64$8,310,772$4,354,180$3,561,536$7,061,732
65$9,082,042$4,491,106$3,604,418$7,599,533
66$9,929,574$4,632,334$3,646,330$8,187,914
67$10,861,070$4,777,999$3,687,162$8,831,949
68$11,885,018$4,928,239$3,726,801$9,537,229
69$13,010,767$5,083,199$3,765,125$10,309,912
70$14,248,616$5,243,027$3,802,008$11,156,787
71$15,609,914$5,407,875$3,837,315$12,085,331
72$17,107,165$5,577,901$3,870,905$13,103,785
73$18,754,144$5,753,266$3,902,628$14,221,227
74$20,566,030$5,934,139$3,932,329$15,447,663
75$22,559,546$6,120,692$3,959,843$16,794,118
76$24,753,117$6,313,104$3,984,995$18,272,739
77$27,167,046$6,511,557$4,007,603$19,896,914
78$29,823,702$6,716,241$4,027,476$21,681,395
79$32,747,735$6,927,352$4,044,412$23,642,436
80$35,966,303$7,145,091$4,058,198$25,797,951
81$39,509,330$7,369,665$4,068,612$28,167,680
82$43,409,793$7,601,290$4,075,422$30,773,375
83$47,704,023$7,840,184$4,078,380$33,639,008
84$52,432,058$8,086,578$4,077,230$36,790,995
85$57,638,012$8,340,704$4,071,701$40,258,446
86$63,370,497$8,602,807$4,061,511$44,073,441
87$69,683,077$8,873,134$4,046,362$48,271,332
88$76,634,778$9,151,945$4,025,942$52,891,075
89$84,290,639$9,439,504$3,999,924$57,975,603
90$92,722,330$9,736,085$3,967,968$63,572,226
91$102,008,826$10,041,971$3,929,713$69,733,082
92$112,237,153$10,357,454$3,884,784$76,515,626
93$123,503,206$10,682,833$3,832,788$83,983,175
94$135,912,660$11,018,419$3,773,314$92,205,505
95$149,581,960$11,364,530$3,705,928$101,259,511
96$164,639,424$11,721,496$3,630,181$111,229,932
97$181,226,453$12,089,657$3,545,600$122,210,150
98$199,498,864$12,469,363$3,451,690$134,303,077
99$219,628,360$12,860,974$3,347,934$147,622,121
100$241,804,155$13,264,864$3,233,792$162,292,262