Can I retire at age 53 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$734,954$728,407$722,020$715,786$709,698$699,960
2 years$363,838$357,062$350,495$344,128$337,952$328,158
3 years$240,150$233,344$226,794$220,486$214,410$204,865
4 years$178,317$171,533$165,048$158,848$152,919$143,696
5 years$141,228$134,484$128,084$122,010$116,247$107,373
6 years$116,509$109,816$103,511$97,573$91,982$83,468
7 years$98,860$92,223$86,018$80,220$74,806$66,654
8 years$85,629$79,052$72,950$67,294$62,059$54,269
9 years$75,344$68,829$62,832$57,320$52,263$44,831
10 years$67,121$60,670$54,778$49,410$44,530$37,451
11 years$60,397$54,011$48,226$43,002$38,298$31,564
12 years$54,798$48,477$42,799$37,718$33,188$26,793
13 years$50,064$43,809$38,238$33,300$28,940$22,875
14 years$46,010$39,821$34,357$29,560$25,369$19,623
15 years$42,499$36,377$31,020$26,362$22,337$16,902
16 years$39,430$33,376$28,124$23,604$19,741$14,606
17 years$36,726$30,738$25,592$21,208$17,504$12,659
18 years$34,324$28,403$23,362$19,113$15,564$10,997
19 years$32,178$26,324$21,387$17,270$13,872$9,573
20 years$30,248$24,461$19,628$15,642$12,391$8,349
21 years$28,505$22,785$18,054$14,196$11,089$7,292
22 years$26,922$21,269$16,639$12,907$9,939$6,377
23 years$25,479$19,892$15,363$11,755$8,922$5,584
24 years$24,159$18,638$14,209$10,721$8,019$4,894
25 years$22,946$17,490$13,160$9,791$7,216$4,293
26 years$21,828$16,438$12,205$8,952$6,500$3,769
27 years$20,794$15,470$11,334$8,194$5,860$3,310
28 years$19,836$14,578$10,536$7,508$5,288$2,910
29 years$18,946$13,752$9,805$6,885$4,775$2,559
30 years$18,117$12,988$9,133$6,319$4,314$2,251
31 years$17,342$12,278$8,514$5,803$3,901$1,981
32 years$16,618$11,617$7,944$5,333$3,528$1,744
33 years$15,939$11,002$7,417$4,904$3,193$1,536
34 years$15,301$10,427$6,930$4,512$2,891$1,353
35 years$14,701$9,890$6,479$4,154$2,619$1,192
36 years$14,135$9,387$6,061$3,826$2,373$1,051
37 years$13,602$8,915$5,673$3,525$2,150$926
38 years$13,097$8,473$5,313$3,249$1,949$817
39 years$12,620$8,057$4,977$2,996$1,768$720
40 years$12,168$7,665$4,665$2,763$1,604$635
41 years$11,739$7,297$4,375$2,549$1,455$560
42 years$11,331$6,949$4,104$2,353$1,320$494
43 years$10,943$6,621$3,851$2,172$1,198$436
44 years$10,574$6,311$3,614$2,005$1,087$384
45 years$10,223$6,018$3,394$1,852$987$339
46 years$9,888$5,741$3,188$1,711$896$299
47 years$9,568$5,479$2,995$1,580$814$264
48 years$9,262$5,230$2,814$1,460$739$233
49 years$8,969$4,995$2,645$1,350$671$205
50 years$8,690$4,771$2,487$1,248$610$181

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $8,900,000, adding $3,124 every year, while hoping to spend $53,565 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: 32/45/23 Blend
52$8,900,000$8,900,000$8,900,000$8,900,000
53$9,811,022$9,339,322$9,201,372$10,055,397
54$10,754,754$9,739,956$9,452,626$10,640,795
55$11,792,951$10,158,426$9,710,501$11,265,854
56$12,935,192$10,595,549$9,975,163$11,938,025
57$14,192,032$11,052,181$10,246,780$12,661,474
58$15,575,098$11,529,218$10,525,527$13,440,766
59$17,097,206$12,027,597$10,811,580$14,280,905
60$18,772,472$12,548,300$11,105,119$15,187,375
61$20,616,452$13,092,355$11,406,328$16,166,192
62$22,646,288$13,660,838$11,715,398$17,223,952
63$24,880,867$14,254,876$12,032,521$18,367,895
64$27,340,999$14,875,649$12,357,894$19,605,962
65$30,049,616$15,524,392$12,691,720$20,946,873
66$33,031,988$16,202,397$13,034,203$22,400,196
67$36,315,956$16,911,021$13,385,554$23,976,441
68$39,932,203$17,651,680$13,745,989$25,687,147
69$43,914,535$18,425,860$14,115,728$27,544,990
70$48,300,207$19,235,116$14,494,993$29,563,894
71$53,130,268$20,081,076$14,884,016$31,759,160
72$58,449,954$20,965,448$15,283,029$34,147,598
73$64,309,110$21,890,016$15,692,271$36,747,688
74$70,762,664$22,856,651$16,111,987$39,579,740
75$77,871,142$23,867,314$16,542,425$42,666,083
76$85,701,242$24,924,055$16,983,840$46,031,265
77$94,326,460$26,029,025$17,436,490$49,702,282
78$103,827,787$27,184,475$17,900,640$53,708,820
79$114,294,470$28,392,763$18,376,560$58,083,527
80$125,824,856$29,656,359$18,864,525$62,862,318
81$138,527,320$30,977,850$19,364,816$68,084,697
82$152,521,289$32,359,946$19,877,719$73,794,128
83$167,938,364$33,805,487$20,403,526$80,038,426
84$184,923,567$35,317,446$20,942,535$86,870,209
85$203,636,710$36,898,940$21,495,048$94,347,375
86$224,253,897$38,553,231$22,061,375$102,533,640
87$246,969,194$40,283,739$22,641,831$111,499,128
88$271,996,456$42,094,045$23,236,736$121,321,020
89$299,571,345$43,987,904$23,846,417$132,084,271
90$329,953,557$45,969,246$24,471,207$143,882,394
91$363,429,271$48,042,191$25,111,444$156,818,333
92$400,313,853$50,211,054$25,767,473$171,005,418
93$440,954,828$52,480,358$26,439,646$186,568,419
94$485,735,165$54,854,840$27,128,318$203,644,708
95$535,076,889$57,339,464$27,833,854$222,385,537
96$589,445,065$59,939,432$28,556,622$242,957,451
97$649,352,192$62,660,194$29,296,999$265,543,839
98$715,363,033$65,507,461$30,055,366$290,346,647
99$788,099,953$68,487,217$30,832,111$317,588,263
100$868,248,790$71,605,733$31,627,628$347,513,595