Can I retire at age 53 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$237,828$235,709$233,642$231,625$229,655$227,636
2 years$117,736$115,544$113,419$111,358$109,360$107,325
3 years$77,711$75,509$73,389$71,348$69,382$67,395
4 years$57,703$55,507$53,409$51,402$49,484$47,560
5 years$45,701$43,518$41,447$39,482$37,617$35,761
6 years$37,702$35,536$33,496$31,574$29,765$27,980
7 years$31,991$29,843$27,835$25,959$24,207$22,493
8 years$27,709$25,581$23,606$21,776$20,082$18,440
9 years$24,381$22,273$20,332$18,548$16,912$15,341
10 years$21,720$19,632$17,726$15,989$14,410$12,909
11 years$19,544$17,478$15,606$13,915$12,393$10,961
12 years$17,732$15,687$13,850$12,205$10,739$9,375
13 years$16,200$14,176$12,374$10,776$9,365$8,067
14 years$14,888$12,886$11,118$9,565$8,209$6,976
15 years$13,752$11,772$10,038$8,531$7,228$6,057
16 years$12,759$10,800$9,101$7,638$6,388$5,278
17 years$11,884$9,947$8,281$6,863$5,664$4,613
18 years$11,107$9,191$7,560$6,185$5,036$4,042
19 years$10,413$8,518$6,921$5,589$4,489$3,549
20 years$9,788$7,916$6,351$5,062$4,010$3,123
21 years$9,224$7,373$5,842$4,594$3,588$2,752
22 years$8,712$6,882$5,384$4,177$3,216$2,429
23 years$8,245$6,437$4,972$3,804$2,887$2,146
24 years$7,818$6,031$4,598$3,469$2,595$1,899
25 years$7,425$5,660$4,259$3,168$2,335$1,681
26 years$7,063$5,319$3,950$2,897$2,103$1,490
27 years$6,729$5,006$3,668$2,652$1,896$1,321
28 years$6,419$4,717$3,409$2,429$1,711$1,173
29 years$6,131$4,450$3,173$2,228$1,545$1,041
30 years$5,862$4,203$2,955$2,045$1,396$925
31 years$5,612$3,973$2,755$1,878$1,262$822
32 years$5,377$3,759$2,571$1,726$1,142$731
33 years$5,158$3,560$2,400$1,587$1,033$650
34 years$4,951$3,374$2,243$1,460$936$579
35 years$4,757$3,200$2,097$1,344$847$515
36 years$4,574$3,038$1,961$1,238$768$459
37 years$4,401$2,885$1,836$1,141$696$408
38 years$4,238$2,742$1,719$1,051$631$364
39 years$4,084$2,607$1,611$969$572$324
40 years$3,937$2,480$1,510$894$519$289
41 years$3,799$2,361$1,416$825$471$257
42 years$3,667$2,249$1,328$761$427$229
43 years$3,541$2,143$1,246$703$388$204
44 years$3,422$2,042$1,170$649$352$182
45 years$3,308$1,948$1,098$599$319$162
46 years$3,200$1,858$1,031$554$290$145
47 years$3,096$1,773$969$511$263$129
48 years$2,997$1,693$911$473$239$115
49 years$2,902$1,616$856$437$217$103
50 years$2,812$1,544$805$404$197$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $2,880,000, adding $6,523 every year, while hoping to spend $36,469 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: 49/44/7 Blend
52$2,880,000$2,880,000$2,880,000$2,880,000
53$3,180,488$3,027,848$2,983,208$3,330,257
54$3,466,096$3,137,410$3,044,343$3,542,835
55$3,779,612$3,251,118$3,106,304$3,769,184
56$4,123,847$3,369,137$3,169,079$4,014,171
57$4,501,893$3,491,639$3,232,657$4,279,546
58$4,917,158$3,618,801$3,297,023$4,567,230
59$5,373,397$3,750,811$3,362,162$4,879,335
60$5,874,745$3,887,862$3,428,056$5,218,182
61$6,425,758$4,030,156$3,494,684$5,586,324
62$7,031,455$4,177,904$3,562,026$5,986,568
63$7,697,367$4,331,325$3,630,058$6,421,997
64$8,429,587$4,490,648$3,698,753$6,896,007
65$9,234,826$4,656,111$3,768,082$7,412,330
66$10,120,480$4,827,962$3,838,015$7,975,072
67$11,094,697$5,006,461$3,908,517$8,588,749
68$12,166,456$5,191,877$3,979,552$9,258,332
69$13,345,647$5,384,492$4,051,079$9,989,289
70$14,643,169$5,584,598$4,123,057$10,787,637
71$16,071,031$5,792,502$4,195,438$11,659,999
72$17,642,464$6,008,522$4,268,173$12,613,662
73$19,372,047$6,232,991$4,341,208$13,656,650
74$21,275,844$6,466,256$4,414,487$14,797,792
75$23,371,555$6,708,678$4,487,947$16,046,809
76$25,678,685$6,960,634$4,561,525$17,414,402
77$28,218,723$7,222,518$4,635,149$18,912,352
78$31,015,352$7,494,740$4,708,745$20,553,631
79$34,094,663$7,777,728$4,782,233$22,352,520
80$37,485,410$8,071,928$4,855,529$24,324,745
81$41,219,276$8,377,806$4,928,543$26,487,624
82$45,331,172$8,695,849$5,001,180$28,860,225
83$49,859,569$9,026,563$5,073,336$31,463,548
84$54,846,857$9,370,477$5,144,906$34,320,721
85$60,339,750$9,728,144$5,215,774$37,457,214
86$66,389,721$10,100,139$5,285,819$40,901,079
87$73,053,492$10,487,065$5,354,913$44,683,214
88$80,393,566$10,889,549$5,422,920$48,837,649
89$88,478,819$11,308,246$5,489,697$53,401,868
90$97,385,148$11,743,840$5,555,092$58,417,159
91$107,196,191$12,197,045$5,618,944$63,929,002
92$118,004,108$12,668,607$5,681,085$69,987,495
93$129,910,462$13,159,303$5,741,336$76,647,826
94$143,027,166$13,669,946$5,799,508$83,970,788
95$157,477,549$14,201,385$5,855,403$92,023,352
96$173,397,511$14,754,505$5,908,811$100,879,297
97$190,936,812$15,330,231$5,959,512$110,619,901
98$210,260,484$15,929,530$6,007,273$121,334,708
99$231,550,386$16,553,409$6,051,849$133,122,366
100$255,006,924$17,202,924$6,092,984$146,091,557