Can I retire at age 53 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$245,260$243,075$240,944$238,863$236,832$234,067
2 years$121,416$119,154$116,963$114,838$112,777$109,994
3 years$80,140$77,869$75,683$73,578$71,550$68,835
4 years$59,506$57,242$55,078$53,009$51,030$48,405
5 years$47,129$44,878$42,743$40,716$38,792$36,264
6 years$38,880$36,646$34,542$32,561$30,695$28,266
7 years$32,990$30,776$28,705$26,770$24,963$22,635
8 years$28,575$26,380$24,344$22,457$20,710$18,482
9 years$25,143$22,969$20,967$19,128$17,440$15,313
10 years$22,399$20,246$18,280$16,489$14,860$12,831
11 years$20,155$18,024$16,093$14,350$12,780$10,848
12 years$18,286$16,177$14,282$12,587$11,075$9,238
13 years$16,707$14,619$12,760$11,112$9,658$7,912
14 years$15,354$13,289$11,465$9,864$8,466$6,810
15 years$14,182$12,139$10,352$8,797$7,454$5,886
16 years$13,158$11,138$9,385$7,877$6,588$5,104
17 years$12,256$10,257$8,540$7,077$5,841$4,439
18 years$11,454$9,478$7,796$6,378$5,194$3,870
19 years$10,738$8,784$7,137$5,763$4,629$3,382
20 years$10,094$8,163$6,550$5,220$4,135$2,960
21 years$9,512$7,603$6,025$4,737$3,700$2,595
22 years$8,984$7,098$5,553$4,307$3,317$2,278
23 years$8,503$6,638$5,127$3,923$2,977$2,002
24 years$8,062$6,220$4,742$3,578$2,676$1,762
25 years$7,657$5,837$4,392$3,267$2,408$1,551
26 years$7,284$5,486$4,073$2,987$2,169$1,367
27 years$6,939$5,163$3,782$2,735$1,956$1,206
28 years$6,619$4,865$3,516$2,505$1,765$1,064
29 years$6,322$4,589$3,272$2,298$1,593$940
30 years$6,046$4,334$3,048$2,109$1,440$830
31 years$5,787$4,097$2,841$1,937$1,302$734
32 years$5,545$3,877$2,651$1,780$1,177$649
33 years$5,319$3,671$2,475$1,637$1,066$574
34 years$5,106$3,480$2,313$1,506$965$507
35 years$4,906$3,300$2,162$1,386$874$449
36 years$4,717$3,132$2,023$1,277$792$397
37 years$4,539$2,975$1,893$1,176$718$352
38 years$4,371$2,827$1,773$1,084$651$311
39 years$4,211$2,689$1,661$1,000$590$276
40 years$4,060$2,558$1,557$922$535$244
41 years$3,917$2,435$1,460$851$485$216
42 years$3,781$2,319$1,369$785$441$192
43 years$3,652$2,210$1,285$725$400$170
44 years$3,529$2,106$1,206$669$363$150
45 years$3,411$2,008$1,133$618$329$133
46 years$3,300$1,916$1,064$571$299$118
47 years$3,193$1,828$999$527$272$105
48 years$3,091$1,745$939$487$247$93
49 years$2,993$1,667$883$450$224$82
50 years$2,900$1,592$830$416$203$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,970,000, adding $4,074 every year, while hoping to spend $27,882 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: 69/14/17 Blend
52$2,970,000$2,970,000$2,970,000$2,970,000
53$3,277,142$3,119,732$3,073,697$3,489,722
54$3,581,745$3,242,933$3,147,000$3,755,117
55$3,916,482$3,371,236$3,221,824$4,041,710
56$4,284,398$3,504,862$3,298,190$4,354,588
57$4,688,848$3,644,041$3,376,121$4,696,338
58$5,133,526$3,789,015$3,455,636$5,069,809
59$5,622,503$3,940,034$3,536,758$5,478,136
60$6,160,265$4,097,362$3,619,505$5,924,773
61$6,751,753$4,261,273$3,703,899$6,413,522
62$7,402,411$4,432,055$3,789,960$6,948,567
63$8,118,239$4,610,008$3,877,705$7,534,518
64$8,905,846$4,795,445$3,967,155$8,176,451
65$9,772,515$4,988,694$4,058,327$8,879,953
66$10,726,269$5,190,098$4,151,239$9,651,180
67$11,775,951$5,400,015$4,245,908$10,496,910
68$12,931,301$5,618,820$4,342,349$11,424,610
69$14,203,055$5,846,903$4,440,579$12,442,500
70$15,603,039$6,084,674$4,540,611$13,559,638
71$17,144,287$6,332,561$4,642,460$14,785,998
72$18,841,159$6,591,011$4,746,137$16,132,569
73$20,709,479$6,860,492$4,851,654$17,611,452
74$22,766,683$7,141,494$4,959,021$19,235,981
75$25,031,985$7,434,526$5,068,248$21,020,840
76$27,526,554$7,740,125$5,179,342$22,982,208
77$30,273,721$8,058,850$5,292,308$25,137,908
78$33,299,192$8,391,284$5,407,151$27,507,572
79$36,631,293$8,738,041$5,523,875$30,112,831
80$40,301,240$9,099,761$5,642,480$32,977,514
81$44,343,429$9,477,111$5,762,965$36,127,873
82$48,795,761$9,870,792$5,885,327$39,592,831
83$53,700,005$10,281,537$6,009,562$43,404,254
84$59,102,185$10,710,111$6,135,661$47,597,249
85$65,053,017$11,157,316$6,263,615$52,210,497
86$71,608,390$11,623,990$6,393,412$57,286,615
87$78,829,890$12,111,010$6,525,035$62,872,558
88$86,785,383$12,619,293$6,658,468$69,020,061
89$95,549,653$13,149,800$6,793,688$75,786,127
90$105,205,112$13,703,535$6,930,671$83,233,563
91$115,842,574$14,281,548$7,069,389$91,431,572
92$127,562,113$14,884,941$7,209,810$100,456,404
93$140,474,008$15,514,862$7,351,898$110,392,078
94$154,699,784$16,172,518$7,495,614$121,331,167
95$170,373,359$16,859,168$7,640,913$133,375,677
96$187,642,305$17,576,130$7,787,747$146,638,006
97$206,669,245$18,324,786$7,936,062$161,242,002
98$227,633,388$19,106,580$8,085,800$177,324,133
99$250,732,215$19,923,025$8,236,896$195,034,772
100$276,183,350$20,775,702$8,389,281$214,539,617