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%14.2%
1 years$243,608$241,438$239,321$237,255$235,237$231,150
2 years$120,598$118,352$116,175$114,065$112,018$107,913
3 years$79,600$77,344$75,173$73,082$71,069$67,075
4 years$59,105$56,856$54,707$52,652$50,687$46,834
5 years$46,811$44,576$42,455$40,442$38,531$34,831
6 years$38,618$36,400$34,310$32,341$30,488$26,945
7 years$32,768$30,568$28,512$26,590$24,795$21,409
8 years$28,383$26,203$24,180$22,305$20,570$17,340
9 years$24,974$22,814$20,826$18,999$17,323$14,248
10 years$22,248$20,110$18,157$16,378$14,760$11,838
11 years$20,019$17,902$15,985$14,253$12,694$9,921
12 years$18,163$16,068$14,186$12,502$11,000$8,373
13 years$16,594$14,521$12,674$11,038$9,593$7,106
14 years$15,250$13,199$11,388$9,798$8,409$6,059
15 years$14,087$12,058$10,282$8,738$7,404$5,187
16 years$13,070$11,063$9,322$7,824$6,544$4,454
17 years$12,173$10,188$8,483$7,030$5,802$3,836
18 years$11,377$9,414$7,744$6,335$5,159$3,311
19 years$10,666$8,725$7,089$5,724$4,598$2,863
20 years$10,026$8,108$6,506$5,185$4,107$2,480
21 years$9,448$7,552$5,984$4,705$3,675$2,152
22 years$8,924$7,050$5,515$4,278$3,295$1,869
23 years$8,445$6,593$5,092$3,896$2,957$1,625
24 years$8,008$6,178$4,710$3,554$2,658$1,414
25 years$7,606$5,797$4,362$3,245$2,392$1,232
26 years$7,235$5,449$4,046$2,967$2,155$1,074
27 years$6,892$5,128$3,757$2,716$1,943$936
28 years$6,575$4,832$3,492$2,489$1,753$817
29 years$6,280$4,558$3,250$2,282$1,583$713
30 years$6,005$4,305$3,027$2,094$1,430$623
31 years$5,748$4,070$2,822$1,923$1,293$544
32 years$5,508$3,851$2,633$1,768$1,170$475
33 years$5,283$3,647$2,459$1,626$1,058$416
34 years$5,072$3,456$2,297$1,496$958$363
35 years$4,873$3,278$2,148$1,377$868$318
36 years$4,685$3,111$2,009$1,268$786$278
37 years$4,508$2,955$1,880$1,168$713$243
38 years$4,341$2,808$1,761$1,077$646$213
39 years$4,183$2,671$1,650$993$586$186
40 years$4,033$2,541$1,546$916$531$163
41 years$3,891$2,419$1,450$845$482$142
42 years$3,756$2,303$1,360$780$438$125
43 years$3,627$2,195$1,276$720$397$109
44 years$3,505$2,092$1,198$665$360$96
45 years$3,388$1,995$1,125$614$327$84
46 years$3,277$1,903$1,057$567$297$73
47 years$3,171$1,816$993$524$270$64
48 years$3,070$1,734$933$484$245$56
49 years$2,973$1,656$877$447$223$49
50 years$2,880$1,581$824$414$202$43

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 $3,304 every year, while hoping to spend $34,919 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: 43/41/16 Blend
52$2,950,000$2,950,000$2,950,000$2,950,000
53$3,254,308$3,097,958$3,052,233$3,378,968
54$3,549,094$3,212,604$3,117,329$3,581,539
55$3,872,778$3,331,698$3,183,436$3,797,154
56$4,228,270$3,455,420$3,250,550$4,030,001
57$4,618,777$3,583,960$3,318,667$4,281,680
58$5,047,832$3,717,513$3,387,782$4,553,949
59$5,519,325$3,856,285$3,457,887$4,848,740
60$6,037,544$4,000,491$3,528,974$5,168,174
61$6,607,211$4,150,353$3,601,032$5,514,584
62$7,233,530$4,306,104$3,674,051$5,890,534
63$7,922,234$4,467,987$3,748,015$6,298,843
64$8,679,639$4,636,255$3,822,911$6,742,609
65$9,512,703$4,811,173$3,898,719$7,225,241
66$10,429,094$4,993,015$3,975,421$7,750,488
67$11,437,258$5,182,070$4,052,994$8,322,472
68$12,546,504$5,378,636$4,131,415$8,945,730
69$13,767,085$5,583,028$4,210,656$9,625,250
70$15,110,303$5,795,571$4,290,688$10,366,523
71$16,588,607$6,016,607$4,371,478$11,175,590
72$18,215,714$6,246,491$4,452,993$12,059,099
73$20,006,742$6,485,593$4,535,192$13,024,365
74$21,978,344$6,734,302$4,618,036$14,079,441
75$24,148,874$6,993,021$4,701,479$15,233,190
76$26,538,553$7,262,173$4,785,473$16,495,367
77$29,169,664$7,542,198$4,869,964$17,876,714
78$32,066,760$7,833,556$4,954,898$19,389,052
79$35,256,896$8,136,727$5,040,214$21,045,399
80$38,769,885$8,452,212$5,125,846$22,860,087
81$42,638,577$8,780,534$5,211,726$24,848,896
82$46,899,172$9,122,240$5,297,779$27,029,203
83$51,591,558$9,477,901$5,383,926$29,420,142
84$56,759,692$9,848,113$5,470,082$32,042,784
85$62,452,007$10,233,497$5,556,156$34,920,334
86$68,721,878$10,634,704$5,642,053$38,078,346
87$75,628,117$11,052,413$5,727,670$41,544,966
88$83,235,537$11,487,333$5,812,899$45,351,192
89$91,615,554$11,940,205$5,897,623$49,531,165
90$100,846,868$12,411,802$5,981,721$54,122,491
91$111,016,201$12,902,933$6,065,061$59,166,590
92$122,219,119$13,414,442$6,147,506$64,709,089
93$134,560,931$13,947,212$6,228,910$70,800,244
94$148,157,686$14,502,165$6,309,118$77,495,416
95$163,137,263$15,080,264$6,387,966$84,855,592
96$179,640,583$15,682,516$6,465,282$92,947,952
97$197,822,936$16,309,973$6,540,883$101,846,505
98$217,855,448$16,963,734$6,614,575$111,632,780
99$239,926,695$17,644,949$6,686,155$122,396,599
100$264,244,484$18,354,817$6,755,407$134,236,913