Can I retire at age 53 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$244,434$242,257$240,132$238,059$236,035$228,114
2 years$121,007$118,753$116,569$114,451$112,397$104,496
3 years$79,870$77,607$75,428$73,330$71,310$63,675
4 years$59,306$57,049$54,892$52,830$50,859$43,549
5 years$46,970$44,727$42,599$40,579$38,662$31,697
6 years$38,749$36,523$34,426$32,451$30,592$23,978
7 years$32,879$30,672$28,608$26,680$24,879$18,614
8 years$28,479$26,292$24,262$22,381$20,640$14,720
9 years$25,058$22,892$20,897$19,064$17,382$11,799
10 years$22,323$20,178$18,218$16,433$14,810$9,556
11 years$20,087$17,963$16,039$14,302$12,737$7,802
12 years$18,225$16,123$14,234$12,545$11,038$6,409
13 years$16,650$14,570$12,717$11,075$9,625$5,292
14 years$15,302$13,244$11,427$9,831$8,437$4,388
15 years$14,135$12,099$10,317$8,768$7,429$3,649
16 years$13,114$11,100$9,354$7,850$6,566$3,044
17 years$12,214$10,223$8,511$7,054$5,822$2,544
18 years$11,416$9,446$7,770$6,357$5,176$2,131
19 years$10,702$8,755$7,113$5,744$4,614$1,787
20 years$10,060$8,135$6,528$5,202$4,121$1,501
21 years$9,480$7,578$6,004$4,721$3,688$1,261
22 years$8,954$7,074$5,534$4,293$3,306$1,061
23 years$8,474$6,616$5,110$3,909$2,967$894
24 years$8,035$6,199$4,726$3,566$2,667$753
25 years$7,631$5,817$4,377$3,256$2,400$635
26 years$7,260$5,467$4,059$2,977$2,162$535
27 years$6,916$5,145$3,769$2,725$1,949$452
28 years$6,597$4,848$3,504$2,497$1,759$381
29 years$6,301$4,574$3,261$2,290$1,588$322
30 years$6,025$4,319$3,037$2,101$1,435$272
31 years$5,768$4,083$2,832$1,930$1,297$229
32 years$5,527$3,864$2,642$1,774$1,173$194
33 years$5,301$3,659$2,467$1,631$1,062$164
34 years$5,089$3,468$2,305$1,501$962$138
35 years$4,889$3,289$2,155$1,382$871$117
36 years$4,701$3,122$2,016$1,272$789$99
37 years$4,524$2,965$1,887$1,172$715$83
38 years$4,356$2,818$1,767$1,081$648$70
39 years$4,197$2,680$1,655$996$588$60
40 years$4,047$2,549$1,552$919$533$50
41 years$3,904$2,427$1,455$848$484$43
42 years$3,769$2,311$1,365$782$439$36
43 years$3,640$2,202$1,281$722$398$30
44 years$3,517$2,099$1,202$667$362$26
45 years$3,400$2,002$1,129$616$328$22
46 years$3,288$1,909$1,060$569$298$18
47 years$3,182$1,822$996$526$271$16
48 years$3,080$1,740$936$486$246$13
49 years$2,983$1,661$880$449$223$11
50 years$2,890$1,587$827$415$203$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,960,000, adding $3,783 every year, while hoping to spend $26,316 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: 51/28/21 Blend
52$2,960,000$2,960,000$2,960,000$2,960,000
53$3,265,822$3,108,942$3,063,062$3,413,124
54$3,570,936$3,233,280$3,137,675$3,639,639
55$3,906,289$3,362,829$3,213,905$3,882,775
56$4,274,939$3,497,816$3,291,779$4,146,579
57$4,680,253$3,638,479$3,371,323$4,433,021
58$5,125,940$3,785,066$3,452,564$4,744,265
59$5,616,089$3,937,837$3,535,528$5,082,689
60$6,155,204$4,097,065$3,620,242$5,450,911
61$6,748,246$4,263,032$3,706,731$5,851,809
62$7,400,682$4,436,035$3,795,021$6,288,547
63$8,118,536$4,616,386$3,885,139$6,764,609
64$8,908,445$4,804,407$3,977,110$7,283,826
65$9,777,723$5,000,439$4,070,959$7,850,412
66$10,734,426$5,204,836$4,166,712$8,469,005
67$11,787,433$5,417,969$4,264,393$9,144,711
68$12,946,527$5,640,225$4,364,025$9,883,146
69$14,222,487$5,872,010$4,465,634$10,690,493
70$15,627,190$6,113,749$4,569,243$11,573,556
71$17,173,724$6,365,883$4,674,874$12,539,827
72$18,876,511$6,628,878$4,782,549$13,597,552
73$20,751,441$6,903,219$4,892,289$14,755,809
74$22,816,023$7,189,412$5,004,116$16,024,592
75$25,089,552$7,487,988$5,118,049$17,414,906
76$27,593,290$7,799,503$5,234,108$18,938,867
77$30,350,665$8,124,537$5,352,309$20,609,816
78$33,387,491$8,463,698$5,472,670$22,442,446
79$36,732,217$8,817,622$5,595,206$24,452,933
80$40,416,190$9,186,972$5,719,933$26,659,094
81$44,473,953$9,572,445$5,846,862$29,080,551
82$48,943,570$9,974,769$5,976,006$31,738,913
83$53,866,986$10,394,704$6,107,374$34,657,979
84$59,290,422$10,833,048$6,240,974$37,863,963
85$65,264,813$11,290,635$6,376,814$41,385,737
86$71,846,284$11,768,337$6,514,898$45,255,103
87$79,096,686$12,267,066$6,655,228$49,507,090
88$87,084,175$12,787,779$6,797,805$54,180,285
89$95,883,856$13,331,475$6,942,626$59,317,192
90$105,578,492$13,899,201$7,089,688$64,964,631
91$116,259,288$14,492,051$7,238,982$71,174,182
92$128,026,746$15,111,173$7,390,499$78,002,664
93$140,991,619$15,757,765$7,544,225$85,512,672
94$155,275,953$16,433,084$7,700,145$93,773,163
95$171,014,239$17,138,444$7,858,239$102,860,106
96$188,354,684$17,875,220$8,018,483$112,857,197
97$207,460,611$18,644,855$8,180,851$123,856,642
98$228,511,994$19,448,854$8,345,311$135,960,029
99$251,707,167$20,288,797$8,511,828$149,279,279
100$277,264,686$21,166,336$8,680,362$163,937,704