Can I retire at age 53 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$246,086$243,894$241,755$239,668$237,629$235,246
2 years$121,825$119,556$117,357$115,225$113,157$110,756
3 years$80,410$78,131$75,938$73,826$71,791$69,448
4 years$59,706$57,435$55,263$53,187$51,202$48,934
5 years$47,287$45,029$42,886$40,853$38,923$36,737
6 years$39,011$36,770$34,659$32,670$30,799$28,697
7 years$33,101$30,879$28,801$26,860$25,047$23,032
8 years$28,671$26,469$24,426$22,532$20,779$18,849
9 years$25,228$23,046$21,038$19,193$17,499$15,654
10 years$22,474$20,314$18,341$16,544$14,910$13,148
11 years$20,223$18,084$16,148$14,398$12,823$11,144
12 years$18,348$16,232$14,331$12,629$11,112$9,513
13 years$16,763$14,669$12,803$11,150$9,690$8,170
14 years$15,405$13,333$11,504$9,898$8,494$7,051
15 years$14,230$12,180$10,386$8,827$7,479$6,110
16 years$13,203$11,175$9,417$7,903$6,610$5,313
17 years$12,297$10,292$8,569$7,101$5,861$4,634
18 years$11,493$9,510$7,822$6,400$5,211$4,052
19 years$10,774$8,814$7,161$5,783$4,645$3,550
20 years$10,128$8,190$6,572$5,237$4,149$3,117
21 years$9,544$7,629$6,045$4,753$3,713$2,741
22 years$9,014$7,121$5,571$4,322$3,328$2,413
23 years$8,531$6,661$5,144$3,936$2,987$2,128
24 years$8,089$6,240$4,757$3,590$2,685$1,878
25 years$7,683$5,856$4,406$3,278$2,416$1,659
26 years$7,309$5,504$4,087$2,998$2,176$1,467
27 years$6,963$5,180$3,795$2,744$1,962$1,298
28 years$6,642$4,881$3,528$2,514$1,771$1,149
29 years$6,344$4,605$3,283$2,305$1,599$1,018
30 years$6,066$4,349$3,058$2,116$1,445$902
31 years$5,807$4,111$2,851$1,943$1,306$800
32 years$5,564$3,890$2,660$1,786$1,181$709
33 years$5,337$3,684$2,484$1,642$1,069$629
34 years$5,123$3,491$2,320$1,511$968$559
35 years$4,922$3,311$2,169$1,391$877$496
36 years$4,733$3,143$2,029$1,281$794$440
37 years$4,554$2,985$1,900$1,180$720$391
38 years$4,385$2,837$1,779$1,088$653$348
39 years$4,226$2,698$1,667$1,003$592$309
40 years$4,074$2,567$1,562$925$537$274
41 years$3,930$2,443$1,465$854$487$244
42 years$3,794$2,327$1,374$788$442$217
43 years$3,664$2,217$1,289$727$401$193
44 years$3,541$2,113$1,210$671$364$171
45 years$3,423$2,015$1,136$620$331$152
46 years$3,311$1,922$1,067$573$300$135
47 years$3,204$1,835$1,003$529$273$120
48 years$3,101$1,751$942$489$247$107
49 years$3,003$1,672$886$452$225$95
50 years$2,910$1,598$833$418$204$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,980,000, adding $4,362 every year, while hoping to spend $42,915 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: 31/43/26 Blend
52$2,980,000$2,980,000$2,980,000$2,980,000
53$3,288,459$3,130,519$3,084,329$3,364,001
54$3,578,221$3,238,254$3,141,993$3,530,160
55$3,896,100$3,349,828$3,200,150$3,704,797
56$4,244,919$3,465,387$3,258,772$3,891,929
57$4,627,787$3,585,077$3,317,828$4,092,676
58$5,048,129$3,709,054$3,377,283$4,308,268
59$5,509,718$3,837,477$3,437,101$4,540,058
60$6,016,709$3,970,513$3,497,244$4,789,529
61$6,573,681$4,108,336$3,557,669$5,058,313
62$7,185,677$4,251,125$3,618,331$5,348,201
63$7,858,253$4,399,067$3,679,183$5,661,163
64$8,597,530$4,552,357$3,740,171$5,999,364
65$9,410,253$4,711,197$3,801,241$6,365,185
66$10,303,850$4,875,797$3,862,334$6,761,242
67$11,286,507$5,046,375$3,923,386$7,190,414
68$12,367,242$5,223,159$3,984,331$7,655,865
69$13,555,992$5,406,385$4,045,098$8,161,079
70$14,863,705$5,596,299$4,105,609$8,709,885
71$16,302,441$5,793,156$4,165,786$9,306,497
72$17,885,492$5,997,223$4,225,541$9,955,554
73$19,627,500$6,208,774$4,284,785$10,662,157
74$21,544,600$6,428,100$4,343,421$11,431,923
75$23,654,570$6,655,497$4,401,346$12,271,032
76$25,976,998$6,891,279$4,458,453$13,186,289
77$28,533,468$7,135,767$4,514,627$14,185,181
78$31,347,763$7,389,301$4,569,748$15,275,954
79$34,446,088$7,652,230$4,623,688$16,467,683
80$37,857,319$7,924,920$4,676,312$17,770,362
81$41,613,274$8,207,749$4,727,477$19,194,994
82$45,749,014$8,501,115$4,777,033$20,753,694
83$50,303,171$8,805,427$4,824,822$22,459,803
84$55,318,317$9,121,116$4,870,676$24,328,013
85$60,841,361$9,448,626$4,914,419$26,374,503
86$66,923,993$9,788,422$4,955,865$28,617,092
87$73,623,174$10,140,988$4,994,820$31,075,404
88$81,001,668$10,506,827$5,031,077$33,771,052
89$89,128,640$10,886,463$5,064,420$36,727,844
90$98,080,304$11,280,443$5,094,621$39,972,001
91$107,940,645$11,689,335$5,121,441$43,532,406
92$118,802,210$12,113,731$5,144,628$47,440,875
93$130,766,981$12,554,249$5,163,918$51,732,455
94$143,947,336$13,011,531$5,179,033$56,445,752
95$158,467,115$13,486,246$5,189,682$61,623,295
96$174,462,782$13,979,093$5,195,557$67,311,937
97$192,084,715$14,490,799$5,196,338$73,563,292
98$211,498,628$15,022,119$5,191,686$80,434,220
99$232,887,129$15,573,845$5,181,249$87,987,368
100$256,451,451$16,146,797$5,164,656$96,291,751