Can I retire at age 53 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$246,911$244,712$242,566$240,472$238,427$229,693
2 years$122,233$119,957$117,751$115,611$113,537$104,835
3 years$80,679$78,393$76,192$74,073$72,032$63,636
4 years$59,907$57,627$55,449$53,366$51,374$43,347
5 years$47,446$45,180$43,030$40,990$39,054$31,418
6 years$39,142$36,893$34,775$32,780$30,902$23,662
7 years$33,213$30,983$28,898$26,950$25,131$18,286
8 years$28,768$26,558$24,508$22,608$20,849$14,391
9 years$25,312$23,124$21,109$19,257$17,558$11,479
10 years$22,550$20,382$18,403$16,600$14,960$9,250
11 years$20,291$18,145$16,202$14,447$12,866$7,513
12 years$18,410$16,286$14,379$12,672$11,150$6,139
13 years$16,819$14,718$12,846$11,187$9,723$5,042
14 years$15,457$13,378$11,542$9,931$8,523$4,157
15 years$14,278$12,221$10,421$8,856$7,504$3,438
16 years$13,247$11,213$9,448$7,930$6,632$2,851
17 years$12,338$10,326$8,598$7,125$5,881$2,369
18 years$11,531$9,542$7,849$6,421$5,229$1,972
19 years$10,810$8,844$7,185$5,802$4,660$1,644
20 years$10,162$8,218$6,594$5,255$4,163$1,372
21 years$9,576$7,655$6,065$4,769$3,725$1,146
22 years$9,045$7,145$5,590$4,336$3,339$958
23 years$8,560$6,683$5,161$3,949$2,997$802
24 years$8,116$6,261$4,773$3,602$2,694$671
25 years$7,709$5,876$4,421$3,289$2,424$562
26 years$7,333$5,523$4,100$3,008$2,184$471
27 years$6,986$5,197$3,808$2,753$1,969$395
28 years$6,664$4,897$3,540$2,522$1,777$331
29 years$6,365$4,620$3,294$2,313$1,604$278
30 years$6,086$4,363$3,068$2,123$1,449$233
31 years$5,826$4,125$2,860$1,950$1,310$195
32 years$5,583$3,903$2,669$1,792$1,185$164
33 years$5,355$3,696$2,492$1,648$1,073$138
34 years$5,140$3,503$2,328$1,516$971$115
35 years$4,939$3,323$2,177$1,396$880$97
36 years$4,749$3,154$2,036$1,285$797$81
37 years$4,570$2,995$1,906$1,184$722$68
38 years$4,400$2,846$1,785$1,091$655$57
39 years$4,240$2,707$1,672$1,006$594$48
40 years$4,088$2,575$1,567$928$539$40
41 years$3,944$2,451$1,470$856$489$34
42 years$3,807$2,335$1,379$790$443$28
43 years$3,676$2,224$1,294$730$402$24
44 years$3,553$2,120$1,214$674$365$20
45 years$3,434$2,022$1,140$622$332$17
46 years$3,322$1,929$1,071$575$301$14
47 years$3,214$1,841$1,006$531$273$12
48 years$3,112$1,757$945$491$248$10
49 years$3,013$1,678$889$453$226$8
50 years$2,919$1,603$835$419$205$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,990,000, adding $6,039 every year, while hoping to spend $21,313 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: 80/12/8 Blend
52$2,990,000$2,990,000$2,990,000$2,990,000
53$3,301,209$3,142,739$3,096,394$3,561,402
54$3,615,256$3,274,057$3,177,447$3,864,103
55$3,960,621$3,411,094$3,260,500$4,192,759
56$4,340,476$3,554,110$3,345,599$4,552,744
57$4,758,316$3,703,373$3,432,788$4,947,179
58$5,217,993$3,859,166$3,522,114$5,379,497
59$5,723,747$4,021,785$3,613,625$5,853,480
60$6,280,255$4,191,537$3,707,366$6,373,291
61$6,892,665$4,368,748$3,803,388$6,943,516
62$7,566,654$4,553,753$3,901,738$7,569,205
63$8,308,475$4,746,909$4,002,468$8,255,919
64$9,125,017$4,948,585$4,105,629$9,009,784
65$10,023,872$5,159,169$4,211,271$9,837,545
66$11,013,405$5,379,067$4,319,447$10,746,633
67$12,102,835$5,608,704$4,430,210$11,745,233
68$13,302,317$5,848,523$4,543,616$12,842,358
69$14,623,044$6,098,991$4,659,717$14,047,938
70$16,077,348$6,360,595$4,778,571$15,372,912
71$17,678,817$6,633,844$4,900,233$16,829,329
72$19,442,426$6,919,272$5,024,760$18,430,461
73$21,384,675$7,217,437$5,152,211$20,190,931
74$23,523,745$7,528,925$5,282,643$22,126,845
75$25,879,672$7,854,348$5,416,117$24,255,950
76$28,474,534$8,194,346$5,552,692$26,597,795
77$31,332,658$8,549,591$5,692,429$29,173,917
78$34,480,854$8,920,785$5,835,390$32,008,043
79$37,948,661$9,308,664$5,981,636$35,126,315
80$41,768,634$9,713,998$6,131,230$38,557,535
81$45,976,644$10,137,593$6,284,236$42,333,434
82$50,612,221$10,580,295$6,440,717$46,488,973
83$55,718,925$11,042,986$6,600,738$51,062,670
84$61,344,756$11,526,593$6,764,364$56,096,966
85$67,542,611$12,032,086$6,931,660$61,638,622
86$74,370,779$12,560,480$7,102,692$67,739,158
87$81,893,493$13,112,838$7,277,526$74,455,343
88$90,181,536$13,690,274$7,456,230$81,849,723
89$99,312,908$14,293,953$7,638,870$89,991,218
90$109,373,566$14,925,098$7,825,513$98,955,765
91$120,458,229$15,584,987$8,016,227$108,827,036
92$132,671,278$16,274,961$8,211,080$119,697,227
93$146,127,736$16,996,422$8,410,139$131,667,925
94$160,954,359$17,750,840$8,613,472$144,851,069
95$177,290,827$18,539,755$8,821,147$159,370,002
96$195,291,067$19,364,779$9,033,232$175,360,632
97$215,124,704$20,227,601$9,249,793$192,972,721
98$236,978,662$21,129,991$9,470,899$212,371,288
99$261,058,927$22,073,802$9,696,615$233,738,171
100$287,592,495$23,060,976$9,927,010$257,273,739