Can I retire at age 53 with 7,100,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$586,311$581,089$575,993$571,020$566,164$556,556
2 years$290,253$284,847$279,608$274,529$269,602$259,951
3 years$191,580$186,151$180,925$175,893$171,047$161,654
4 years$142,253$136,841$131,667$126,721$121,992$112,930
5 years$112,665$107,285$102,179$97,334$92,736$84,031
6 years$92,945$87,606$82,576$77,839$73,379$65,040
7 years$78,866$73,571$68,621$63,996$59,677$51,707
8 years$68,311$63,064$58,196$53,684$49,508$41,905
9 years$60,106$54,909$50,124$45,727$41,693$34,453
10 years$53,546$48,399$43,699$39,417$35,524$28,642
11 years$48,182$43,087$38,472$34,305$30,552$24,019
12 years$43,715$38,673$34,143$30,090$26,476$20,284
13 years$39,939$34,949$30,505$26,565$23,087$17,227
14 years$36,704$31,768$27,409$23,581$20,238$14,699
15 years$33,904$29,020$24,746$21,030$17,819$12,591
16 years$31,456$26,625$22,436$18,830$15,749$10,821
17 years$29,298$24,521$20,416$16,919$13,964$9,325
18 years$27,382$22,659$18,637$15,247$12,416$8,054
19 years$25,670$21,000$17,061$13,777$11,067$6,970
20 years$24,131$19,514$15,658$12,478$9,885$6,043
21 years$22,740$18,177$14,402$11,325$8,846$5,246
22 years$21,477$16,967$13,274$10,297$7,929$4,560
23 years$20,326$15,869$12,256$9,377$7,118$3,968
24 years$19,273$14,868$11,335$8,553$6,398$3,456
25 years$18,305$13,953$10,498$7,811$5,757$3,013
26 years$17,413$13,114$9,737$7,142$5,186$2,628
27 years$16,589$12,341$9,041$6,537$4,675$2,294
28 years$15,824$11,629$8,405$5,989$4,218$2,003
29 years$15,114$10,971$7,822$5,492$3,809$1,750
30 years$14,453$10,361$7,286$5,041$3,442$1,529
31 years$13,835$9,794$6,792$4,629$3,112$1,337
32 years$13,257$9,268$6,337$4,255$2,815$1,170
33 years$12,715$8,777$5,917$3,912$2,547$1,023
34 years$12,206$8,318$5,529$3,600$2,306$895
35 years$11,728$7,890$5,169$3,314$2,089$784
36 years$11,276$7,488$4,835$3,052$1,893$686
37 years$10,851$7,112$4,526$2,812$1,715$600
38 years$10,448$6,759$4,238$2,592$1,555$526
39 years$10,068$6,427$3,971$2,390$1,410$460
40 years$9,707$6,115$3,722$2,204$1,279$403
41 years$9,364$5,821$3,490$2,034$1,161$353
42 years$9,039$5,544$3,274$1,877$1,053$309
43 years$8,730$5,282$3,072$1,733$956$271
44 years$8,436$5,035$2,883$1,600$867$237
45 years$8,155$4,801$2,707$1,477$788$208
46 years$7,888$4,580$2,543$1,365$715$182
47 years$7,633$4,371$2,389$1,261$649$160
48 years$7,389$4,173$2,245$1,165$590$140
49 years$7,155$3,985$2,110$1,077$536$123
50 years$6,932$3,806$1,984$995$486$107

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $7,100,000, adding $6,878 every year, while hoping to spend $36,329 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: 46/35/19 Blend
52$7,100,000$7,100,000$7,100,000$7,100,000
53$7,831,295$7,454,995$7,344,945$8,148,732
54$8,591,433$7,781,636$7,552,347$8,697,936
55$9,427,888$8,123,064$7,765,479$9,289,245
56$10,348,405$8,479,967$7,984,495$9,930,006
57$11,361,519$8,853,063$8,209,553$10,624,840
58$12,476,635$9,243,104$8,440,814$11,378,824
59$13,704,115$9,650,878$8,678,443$12,197,531
60$15,055,375$10,077,212$8,922,612$13,087,087
61$16,542,997$10,522,969$9,173,493$14,054,220
62$18,180,844$10,989,056$9,431,266$15,106,325
63$19,984,191$11,476,420$9,696,115$16,251,530
64$21,969,869$11,986,056$9,968,225$17,498,770
65$24,156,427$12,519,004$10,247,792$18,857,865
66$26,564,300$13,076,353$10,535,011$20,339,616
67$29,216,010$13,659,246$10,830,085$21,955,896
68$32,136,373$14,268,878$11,133,222$23,719,767
69$35,352,732$14,906,503$11,444,635$25,645,591
70$38,895,222$15,573,432$11,764,541$27,749,167
71$42,797,045$16,271,041$12,093,164$30,047,878
72$47,094,792$17,000,770$12,430,733$32,560,844
73$51,828,781$17,764,128$12,777,483$35,309,104
74$57,043,442$18,562,696$13,133,654$38,315,808
75$62,787,734$19,398,129$13,499,492$41,606,431
76$69,115,609$20,272,163$13,875,251$45,209,009
77$76,086,518$21,186,616$14,261,189$49,154,398
78$83,765,975$22,143,392$14,657,571$53,476,559
79$92,226,173$23,144,487$15,064,668$58,212,875
80$101,546,668$24,191,992$15,482,760$63,404,497
81$111,815,126$25,288,098$15,912,130$69,096,724
82$123,128,154$26,435,099$16,353,072$75,339,429
83$135,592,209$27,635,403$16,805,883$82,187,520
84$149,324,604$28,891,528$17,270,870$89,701,451
85$164,454,617$30,206,116$17,748,348$97,947,785
86$181,124,706$31,581,934$18,238,636$106,999,818
87$199,491,860$33,021,882$18,742,064$116,938,259
88$219,729,075$34,529,000$19,258,968$127,851,987
89$242,026,991$36,106,471$19,789,694$139,838,877
90$266,595,689$37,757,633$20,334,593$153,006,719
91$293,666,675$39,485,983$20,894,029$167,474,223
92$323,495,067$41,295,187$21,468,369$183,372,131
93$356,361,997$43,189,085$22,057,993$200,844,440
94$392,577,273$45,171,702$22,663,288$220,049,752
95$432,482,298$47,247,258$23,284,651$241,162,758
96$476,453,292$49,420,174$23,922,487$264,375,875
97$524,904,849$51,695,083$24,577,211$289,901,051
98$578,293,843$54,076,842$25,249,247$317,971,753
99$637,123,750$56,570,542$25,939,032$348,845,156
100$701,949,391$59,181,517$26,647,007$382,804,557